Charity number: 1193982
THE BLACK FUND
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE BLACK FUND
CONTENTS
Roforonco and admlnlstrallve detalls of Iho charlty. Its Tru8ts08 and advl8Orn
TnMtee•' rnport
ststoment of Ilnanclal actlvltl•s
Balonco •h••t
Notm to th• flnanclal stat•m•nts
7-13

THE BLACK FUND
REFERENCE AND ADMINISTRATfrfE DETAILS OF THE CHARITY, ITS TRUSTEES ANO ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Tru¥t•ets
L Gray. Chair
J Bl&Je8. Trustea
S Pinn￿k, Trustee
A Gray, Trustee
Charlty regl8t•red
numb•r
1193982
Prfnclpal offlco
A81on Hou8e
Cornwall Avenue
London
N31LF
Accountant•
Adl&r Shln• LLP
Chartered Accountants
A81on House
Comwall Avonuo
London
N3 1LF
Page 1

THE BLACK FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present Iholr annual report together with the financial statements of the charty for the year 1 Aprll
2023 10 31 March 2024.
ObJectlve¥ and activitle8
a. Pollcles and oblectlve•
Th¢ obl¢¢l of the charity 18 the prevention or relief of poverty of the African and Caribbean diaspora in the Unil8d
Kingdom by making grants to charth'es and eommunity groups.
In settlng oblo¢tlveo and planning for acllvilies, the tru8tee8 hav8 given due ¢onsider8lK)n lo general guidanc6
published by the Charity Commisslon relating lo public benefll, in¢luding the guidance 'Public benefll.. running a
charity IPB21'.
b. Strat•g188 for a¢hlovlng ¢bJectlvg¥
Tho Iruslee5 overall 61ralegy for achlevlng the ch8rty'8 oblo¢llvo8 Is through seeklng and building now and
existing relalion8hip8 With buslnesseg who are passionate 8boul BUPPOrtlng the Black communlly and tackling
racial inequalilie5. a8 well 8$ developing initiatives that support the Black community.
Thg chorty's approach to change al80 includes creating pèrtnerships that cr88te and provide opportunIt￿5, and
use the Iruste88' 80cial platfom to help 8hKt p$r$peGlives and increase education.
c. Actlvltl•s und•rtak•n to •Ghlevfj obJoctlvo•
Thtr Irusleeg consider the best way lo increase the eharily's reach ond impact wa8 to priontise funding by
focuging on 2 theme8 or c8mpaign8 throughout each year. This allows the charity Ic focug Its lun¢ting rounds,
beller target supportars ènd org8nisations and in turn, enables more funding to be inv6slgd in Ih95e specrfic
areas. making a foGu$ed and mea8urable impact.
AB part ol thi8 the charrty made donations to organisations across the year..
Ebonista, whose mission is to support, empower and advocate for vlomen and children who have been
subjected lo domestic abuse., and
Milk Honey Bees - a Black Girl led. expre88ive safe space that allow5 young women & glr18 to flourish and
put H.E.R (Healing, Empowement and R88llieneel first.
d. Grant-making pollclos
Grant8 are made thrgugh the chartys Give Back scherne and are made to registered UK-based Charitie5,
Communty Interest Companies, and Not For Profit Organisalions, that support and empowor blath people, and
that have an annual incom8 of le88 than £200.000.
The project should have at least one adivg SOCi81 media account, an up404ale safeguaTdiw policy and be able
to 8ubmrt previous year's acwunls for the Iruslees lo hav9 a look al as part of the application proc8S5.
Applications are received through the chartys web3119 Ihobla¢kfund.co.uk and all quality'ng applications are
reviewed by the truste85 lo determine whether the proj8cI will advance the objeclwes of thg chanty, is achievable
and measurable. The prqecl will need to bg fully funded by the grant or be able to demonstrate that all funds
required have been obtsined.
Page 2

THE BLACK FUND
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Achlov•m•nts and p•rformance
a. Main achiov•ments of th• Charlty
The charity has m&Je donations lotslling £6,500 to charitsble organisalion$ which the Iruslees believe lo
advance the charity's oblaclives.
Grants have been made lo projects 8cross the UK. The grants have been mada for a diverse array of charitable
tNilie8, such 8s providing 8 personal support system lo women and children fleeing domestic abuse. provldlng
enrichment aclimties through music lo reduce social exclusion. ant￿SoCIal behaviour, and crime., as well as
supporting roadshow8 acr08S the UK speaklng lo youThJ people who feel unable to ac¢e59 higher education and
aGa(lemic succe88.
These ar6 all activities which go towards the charitys objecllve of the prevention and relief of poverty of the
African and Caribbean diaspora in the Uni18d Kingdorn.
Flnonclal ievlow
. Golng ¢oncom
After making appropriate enquirie8, the trustees hav• a rg•$onable expectation that th8 charity has adequate
resources lo continue in operational exlslènce for the foreseeable future. For this reason, Ihgy continue lo adopt
the going concern basi8 in preparing the financial Slalemenls. Further d618i18 regarding the adoption ol the going
concern basls can bg found in the 8ccounling policies.
8tructur•i goYernanc• and manag•m•nt
•. Constbtutlon
The Black Fund16 a wislered charity, number 1193982, and is ¢on5ti1uted under 8 CIO Conslltullon.
b. M•thod• of •ppolntm•nt or electlon of tru8t•••
The management of the charity i¥ the rgspon8ibilty of the Iruslees who are el6dgd and ¢￿0P18d under the lemis
of the CIO Constitution.
11 is the duly of each charity Irustèè..
a. lo exercise his or her powers and lo perform his or her functions In his OT her cgpacity a8 a tru8tee of the
CIO in the way he or she decides in good faith would be most likoly to further the purposes ol th8 CIO., and
b. lo exercise, in the perfomiance of those funthons, such Ca￿ and skill as reasonable in thg Gircum8lances
having regard in particular lo..
any sp9GI81 knowledge or experience that he or She has or hold$ himse￿ or her8elf out a8 h8￿ng., and,
if ho or she acts as a charfly trustee of thè CIO in the course of a business or profession, lo any $p¢¢ial
knowledge or experience that it 18 reasonabl¢ to 8xpgcI of a person acting in tho coursè of that kind of
busine88 or profession.
c. Flnanclal r18k management
The trustees have assessed the major risks to wh￿h the charty is exposed. in particular those related lo the
operatlons and finances of the charity, and aro satisfied that sy81ems and procedures are in place to mib'gale
exposure to the major n8ks.
Page 3

THE BLACK FUND
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Momb•rs' liabS11ty
The Member8 of the charty have no liabilty lo ¢onlribule to ts assets and no personal responsibility for settling
its deb18 and liabilrties.
Statement of trusteos. rnsponslblllths
The tru8tee8 are re8ponslblg for preparing Ihe Iru$tee¥' report and the financial slalemenl8 in accordance with
applicabl¢ law and Unlted Kingdom Accountlng Slandar(18 (United Kingdom Generally A¢cept8d Accounting
Praclicel.
The law applicable lo charities in England & Wales requires the trustees lo prepare financial slalemenl$ for each
financial which give a true and fair view of the slate of affairs ef th¢ Chafity and of its incoming reBources and
opplicalion of resource8, including ils income and expenditur•. for that period. In preparing these financial
statements, the Iruslee8 ar¢ required lo..
8elecl suitable ac¢ounting policies and then apply them con8i81enlly'.
obseN8 the melhodB and Pfincipl88 of th& Charities SORP IFRS 102}',
m8ke judgments and accounting eslimal&$ that are reasonable and prudent,.
8tal8 whother applicgble UK Accounting Standards IFRS 1021 have begn fo1h￿¥ed, subject to any material
¢Jepartures disclosed and explained in tha financial slatemenl8,'
prepaie the financial stalamenls on the golng concern basis unle$$ it 18 inapproprkqte lo presume that the
charity will ¢onlinue in business.
Tho Iru8lee8 are responsible for keeping adequate accounting reGords that are sufficient to 6how and explain th8
cha￿ty,8 Iran38Ctlons and disclose with rea80nAblè 8CCLbf8cy al any time the financi￿ position of the charity ond
enable them to ensure that the fin8ncial 8latement$ cornply with the Charitie5 Act 2011, the Charity IAGcounls
and Reports) Regulation8 2008 and the provisions of the CIO Constilulion. They are also responsible for
safeguarding the assets ol the charity and hencè for taking re8wn8ble slep8 for the prevention and detection of
fraud and other irregularities.
Approved by ordef of the members ol the board of tru81ee8 and 8KJned on their behatf by..
L Gray
Trustee
Date.. kll0il￿L
Page 4

THE BLACK FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unre8trlctod
fund•
2024
Total
funds
2024
Total
lunds
2023
Note
Incom• from:
Charitable aclivitl68
9,839
9,839
30.249
Total Income
9,839
9.839
30,249
Ex￿ndItur0 on:
Charitable aclivi1188
16,606
16,506
37,822
Total •xp•ndltur•
16,$06
16.506
37,822
Nat mov•mont In funds
16,667)
16.6671
f7,573)
R0¢0nclllatlon ol funds:
Total fund8 brought foNard
Net mov¢monl in funds
20,331
16,667)
20.331
16.6671
27,904
f7,573)
Total funds carrlod fotward
13,864
13.664
20,331
The Ststement of financial 8ct6vltlo$ In¢ludes all galn8 and108se8 r8¢ogni¥ed in the year.
The notes on pages 710 13 fomi part of Ih88e Ilnan¢lal $l018menl8.
Page 5

THE BLACK FUND
8ALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Flxèd a￿@t8
Currnnt •88•t8
Cash at bank 8nd in hand
18,164
24,855
18,164
24.855
Cred6tors'. amount8 falllng due wlhln one
year
12.6001
(4,524)
N•t ¢urr•nt ••s•t•
13.664
20,331
Total not •19ots
13,864
20,331
Charlty fund8
Unre8trfcled fund8
13,664
20,331
Tol•l fund•
13.664
20,331
Th• financial 8talemon18 Were approved and aulhori88d for issue by the Iru$1008 and 8lgned on Ihelr behall ty..
L Gray
Tru8lee
Dat8.. Z+IoiitoL
The notes on pag88 7 10 13 form part of these financial 8tatement8.
Page 8

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General informallon
The Black Fund is a Charitable Incorporatgd Organisalion, registered in England and Wales. The
regislerod office address is Aston House, Cornwall Avenue, London, N3 1LF. The registered charity
number is 1193982.
The flnoncial Btatemenls are Pres￿ted in Slerfing 1£). rounded lo the ne8r88t £1
Accountlng pollcl•s
2.1 Bas18 of praparntlon of fln•n¢lal #tat•ments
The flnancial slalemenls have been prepared in accordance with the Charklg$ SORP {FRS 1021
Accounting and Reporting by Charitie8'. Slalemenl of Recommended Practice applicable to ch8rilie&
preparing Ihoir 8¢wunl$ in accordance with the Financial Reporting Standard appltable in the UK
and Republ￿ of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard
applicable in the UK and Republk of Iraland IFRS 1021 and Ihg Charrties Act 2011.
The financial slalemenls have been prgpared lo give a 'lrue and fail v*w and have d6part¢d from
th& Charities (Accounts and Reports) Regulation8 2008 ¢)nly to th6 extent required lo provide a 'true
and fair, view. This departure ha8 involved followlng thè Charitios SORP IFRS 1021 published in
October 2019 ralhei than the Accounting and Reporting by Charitses.. Statement of Recommended
Practic• •ffeGliv• fiom 1 April 2005 which has since been withdrawn.
The Black Fund meets thè delinilion of a public benelil enlrty under FRS 102. A8$el8 and liabilities
are Initially recognised 81 historical co81 or Ir9n3aclion value unle88 otherwi88 $101gd in the relevant
accounting polKy.
2.2 Golng concern
The tru81ees COnSKler that there are no material unc8rtainlio$ about the Charills ability lo continue a8
going concem.
2.3 Incom•
All income is recognised once the charlty has entit￿ment lo the incomg, it 15 prcbable that the income
will be received and the amount ol Incsjme re¢eNable can bg measured reliably.
In¢ome lax recoverable in relatson to donations recelved undèr Gift Aid or deed8 of covenant is
rpxognised at the tlme of the don81ion.
2A Exponditurg
Expenditure is recogni8ed 0￿e there is 8 legal or con51ructlVg obligation lo transfer economic benefrt
to a third party. r( is probable that a transfèr of ecor￿MiC benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is cl885rfied by activlly. The co$1¥
of each activity are made up of the total of direct costs and shared costs, including support cos18
involved in undertaking each activity. Direct costs allribulable to a single activity are allocate(I directly
to that activity. Shared costs which contribute lo more than one activity and support costs which are
not aitribulable to a single activity are apportioned be￿een those activities on a basis consislenl wlh
the use of resour¢e$, Central staff costs are allocated on the basis of lime spent, and depr8ciation
harg8s allocated on the portion of tho gssel's use.
Page 7

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng polle1￿ Icontlnuedl
14 Expondlture Icontlnugdl
Expenditure on charrtable activities is incurred on directly undertaking the aclivrties Ithich further the
charitys oty'eetiv¢$. a$ well a5 any associated support costs.
Grant8 payable are charged In th¢ year when the offer is made except In those ca809 wher6 thè offer
is conditional, such grant$ being recognised as expenditure wh8n the conditions attaching are
fulfilled. Grants offered subject lo conditions which have not b88n met at the year are noted as a
commknient. bul not accrugd as expenditurè.
All expenditure 18 incluslve of irrecovgrable VAT.
2.6 Ca•h at bank and In hand
Caoh al bank and in hand includes ¢a$h and short-lerm highly Ilquid investments wrth a Short m8lurlly
of three months or le85 from the dale of acquisition or o￿nIng of the deposit or simllar account.
2.6 Uabllltl88 and proYl¥lon8
Liabilities are recognl$¢d when Iherg is an obllgallon al the balance shoet dale 88 a result of a past
event, il is probable th818 transfer ol economic bènefit will be requirgd in 88tllemenl, and the amount
of tho $ettlemgnl cgn be e8tim8led reliably.
Liabilitses are rec&)nised at the ￿OUnt thot the charrty 8nlicipales It will poy lo Sett￿ the debt or the
amount rt ha$ r¢¢¢ived a8 advanced paymen18 for tha good8 or 8ervice8 rt mu81 provKIe.
2.7 FIDancl•l Instium•nt•
The charity only hos financlal assets and finanelal liabilities of a kind that qualify as basic hnanci81
Inslrumenls. B8sic fin8nclal in81rumenls are initl8lly recogni8ed al transaction value and $ub$equenlly
measured al Ihelr s¢ttlèmenl value wrth the exception of b8nk loans which are 8ub8equently
measured at 8morti5gd cost using th8 effecuve interest meththl.
2.8 Fund accountlng
General fund$ a￿ unreslriGled funds which are available for use al the discrelon of the Iru81ee8 in
furtheran¢e of th• general objecllve8 of the charty and whl¢h have not been designated for other
purposes.
Page 8

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENT8
FOR THE YEAR ENDED 31 MARCH 2024
Incom• from charltable Jctlviths
Unre8trlct•d
funds
2024
Total
fund8
2024
Inc￿ne from charflable aclivitie8- The pr8v8nllon or rglyaf of poverty
9,839
9.839
Unre8tAict8d
funds
2023
Tol81
funds
2023
Income from Char￿ble actlvlllos- The prevenllon or rellof of povety
30,249
30,249
An•ly•l8 of grant•
Grnnt8 10
Instltutlon8
2024
Total
fund8
2024
Gr8nts. The prwention or relief of pov•ty
6,500
6,600
Grants to
Institutions
2023
Total
funds
2023
Grants. Thg prevenlbn or r8lbf of poverty
25,811
25,811
Page 9

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analy818 of expendlture on charltable actlvltles
8umm•ry by fund ty
Unrfjstrlctod
fund•
2024
Total
2024
Tho prevention or rel￿ ol poverty
16,506
16,506
unrestr￿ted
funds
2023
Tot81
2023
The prevgnlion or r8li8f of povoty
37,822
37,822
Analysls ol •xpondlturo by aGtlYlti
Grant
funding of
•ctivltl83
2024
Support
eo•t•
2024
Total
fund•
2024
The prevenlbn OT relief of poverty
6,500
10,006
16,506
Granl
funding ol
acliviligs
2023
Support
costs
2023
Total
lunds
2Q23
The preventlon or relief of povgrty
25,811
12,011
37,822
Page 10

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysls ol expanditurn by adiviti•s (contlnu￿l
Analysls ol Support C0818
Total
fundi
2024
Total
fijnds
2023
Accountancy
Markellng
Computer co8t8
TT8vel expenses
Govemance c08t8
3,424
6,150
2, T48
5. T74
489
432
10.006
12,011
Tru•to0•' romuneratlon and oxp•n••8
During the year, no tNstees re¢￿Ved any remunèration or other benofits f2023- £NILJ.
Ouring th8 yoar ondad 31 March 2024, expenses totalling £432 ware reimbursed or p8id directly to 1
Iru81ee (2023 - £NM). These were for travel and other adminl$lratlv¢ ¢osts incurred on behall of the
Ghailly.
Credltor4: Amount• falllng du• wlthln on• yèar
2024
2023
Trade creditors
Accruals and deferred Inc¢m8
1,524
3,000
4,524
Page11

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
8tatern8nt of fund*
Stat8mont of fund8 - currènt yoar
8alanc• al
31 March
2024
Balance at 1
April 2023
In¢omo Expèndlturg
Unr••tilct•d fund•
Genoral Funds- all fund8
Gèneral Funds
20.331
9,839
116,6081
13,664
20,331
9.839
116,106}
13,664
Statoment of fvnd8- prlof year
8818nce 81
31 March
2023
Balance al
l Apnl 2022
Income Expenditure
Goneral Fund8- all funds
27,904
30,249
(37,822)
20,331
10. Analy81• ol nol a•8ets b•tw••n fund•
Anal￿19 ol nét 48•ets b•twegn fund• - current perlod
Unre8trlctod
funds
2024
Totjl
funds
2024
Current a88ets
Credllor8 due wrthin one year
16,164
2,5WI
16.164
12.5001
Total
13,864
13,664
Pag¢ 12

THE BLACK FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Analy$l• of net between funds lcontinuodl
Analysls ol nat a•$•ts between funds- prlor perlod
Unrestrtcl8d
funds
2023
Tol
funds
2023
Current assets
Credttors due wkhln ¢)ne year
24,855
{4,524}
24,855
(4,524)
Total
20,331
20,331
11. Relatod party tran¥actlons
The charity has not enlerad Into any related party lran5aGt￿jn during the yèar. nor 8Te there any
ou181anding balan¢¢$ owng btheen related p8rtie8 and the charty al 31 March 2024.
Page 13