Charity number: 245207
THE BERTIE BLACK FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

THE BERTIE BLACK FOUNDATION
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
statement of Financial Activities
Balanco Sheot
Notes to the Financial Statements
8-17

THE BERTIE BLACK FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED S APRIL 2023
Trustees
Mrs C Black
Mr H S Black
Mrs l R Seddon
Mr I Seddon
Mrs D Black
Charlty reglstered
number
245207
Reglstered Address
Ground Floor
4 Portsdown Mews
London
NW117HD
Independent Examlner
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Bank
Barclays Bank plc
Cornwall Street
Plymouth
Devon
PL12HA
Sollcltors
Chades Russell Speechlys LLP
6 New Street Square
London
EC4A 3LX
Page 1

THE BERTIE BLACK FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED S APRIL 2023
The Trustees present their annual report together with the financial statements of the charity for the 6 April 2022
lo S April 2023.
Objectives and activities
a. Polieies and objectives
The objectives of the Foundation are.,
the relief and assistan￿ of poor and needy persons.,
the advancement of education.,
the advancement of religion.,
other purposes beneficial lo the community.,
The charity's main activity in the year was to satisfy the purposes of the foundation and to ensure financial
stability in 8 period of continuing economic uncertianty-
There is a review of the grant making policy 8nnually to ensu￿ that it reflects the eh8rity's objectives and thereby
advances public benefits.
b. Main activities undertaken to further the charity's purposes for public benefit
The foundation has continued its established grant making policy to achieve its objects for the public benefit.
During the year the charity made donations lo a range of UK charities with the value of grants totalling £70,411
12022 - £75,690).
Achievements and performance
Investment policy and perfomiance
Our stock market investment advisors are instructed to invest lo maximise the lolal return within the constraints
of a medium to low risk investment portfolio. The high level of stock market volatility, Brexit risks and the
continuing uncertainty regarding world economic prospects continues to make the management of investments
difficult.
The rental income and market value of the Foundation's propety investment is monitored regulady by the
Iruslees.
Financial review
a. Going concem
Although the Charity faced a fall in the value in ils investment portfolio at the year*nd, this has since been
partially recovered. The Charity also has minimal fixed costs, with the main source of expenditure being gfftnls
made to institutions which can be made 8t the discretion of the Trustees. Furthermore, the Charity had a healthy
net asset position at the year end.
The Trustees therefore consider that based on the circumstances existing at the date of signature of the
accounts the operations of the charity are not likely to be affected in 8 material manner by the current
Coronavirus outbreak.
b. Financial perfomiance
Investments during the year generated ineome of £124,311 12022 - £110,705). Costs of generating income
lotalled £30,02712022 - £30,3771. The charity made a surplus before revaluation of investments for the year of
£1 S,39312022 £116 deficit).
Page 2

THE BERTIE BLACK FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED S APRIL 2023
c. Reserves policy
The Iruslees have a reserves policy whereby cash is kept at a level which will enable three months of operational
costs lo be mel. Reserves in the form of investments are lo be kept to a level which will allow the charity lo
generate income for the grant making program, whilst preserving sufficient capital lo enable grant making in
fvture periods.
Structure, govemance and management
Constitution
The Bertie Black Foundation is 8 registered charity, number 245207, and is constituted under a Trust deed dated
31 March 1965 and is 8n unincorporated 8SSOCi8tion.
b. Methods 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.
c. Oryanisational structure and decision making
The Foundab'on was established by 8n initi81 gift from Mr Bertie Black. The foundation is managed entirely by the
Iruslees, there being no employees. The trustees a￿ related lo or are family members of the descendants of the
founder. Mr Bertie Black. Decisions are taken by a majority of trustees induding the power of appointment of
new trustees.
statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financi81 statements in accordance with
applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Ac￿pIed Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the slate of affairs of the charity and of ils incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are reqUI￿d to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent",
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
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 lo show and explain
the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity
and enable them lo 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 hen￿ for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Page 3

THE BERTIE BLACK FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED S APRIL 2023
Approved by order of the members of the board of Trustees and signed on their behalf by".
Mr H S Black
Trustee
Dale. 2110112025
Page 4

THE BERTIE BLACK FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2023
Independent Examiner's Report to the Trustees of The Bertie Black Foundation Ilhe charity'l
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2023.
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 I'lhe 2011 ACVI.
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 14515llbl of the 2011 Act.
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".
accounting records 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 records., or
the accounts do not comply with the applicable requirements con￿mIng the form and content of
accounts set out in the Charities (Accounts and Reports) Regu18tions 2008 other than any requirement
that the accounts give a 'true and f81¢ view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other mallers in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
Signed..
Dated.. 2110112025
lan Saunderson, FCA
BKL Audit LLP
Chartered Accountants
London
Page 5

THE BERTIE BLACK FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
1,000
124,311
1,000
124,311
1.000
170,705
Total income
125,311
125,311
111,705
Expenditure on:
Raising funds
Charitable activities
30.027
79,891
30.027
79,891
30,37T
81,212
Total expenditure
109,918
109,918
171,589
Nel gainslllossesl on investments
{235.2451
{235.2451
463,834
Net movement in funds
{219,8521
{219,8521
463.950
Reconciliation of funds:
Total funds brought forward
Nel movement in funds
5.012.669
{219.8521
5,012.669
{219.8521
4,548,719
463,950
Total fund$ carried forward
4,792,817
4,792,817
5,072,669
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 10 17 form part of these financial slalemenls.
Page 6

THE BERTIE BLACK FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2023
2023
2022
Note
Flxed assets
Investments
Investment property
10
4,506,279
300,000
4, 729.393
300,000
4,806,279
5,029,393
Current assets
Cash al bank and in hand
51
51
Creditors.. amounts falling due within one
year
{13,513)
(16, 724)
Net current liabilities
113.4621
f76, 724)
Total net assets
4,792,817
5,012,669
Charity funds
Unrestricted funds
12
4.792,817
5,012,669
Total funds
4,792,817
5,012,669
The financial stslemenls were approved and authorised for issue by the Trustees and signed on their behalf by..
It. Ekck
Mr H S Black
Dale.. 2110112025
The notes on pages 8 10 17 form part of these financial slatemenls.
Page 7

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Accounting policies
1.1 Basis of preparation of financial ststements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities." Statement of Recommended
Practice effective from 1 April 2005 which has Sin￿ been withdrawn.
The Bertie Black Foundation conslitules a public benefit entity as defined by FRS 102 as issued on
31 January 2022.
1.2 Going concern
The Charity has minimal fixed costs, with the main source of expenditure being grants made to
institutions which can be made at the discretion of the Trustees. Furthermore, the Charity had a
healthy net asset position al the year end.
As such, the Iruslees consider that the Charity is able to continue ils activities for a period of al least
twelve months from the dale of signature of these accounts and the accounts have therefore been
prepared on a going concem basis.
1.3 Income
All income is recognised once the charity has entitlement lo the income, it is probable that the income
will be received and the amoLJnt of income receivable can be measured reliably.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. ExpenditLJre is classified by activity.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, Including support costs
inVo￿ed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resoLJrces. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for ils
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 8

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Accounting policies Icontinuedl
1.4 Expenditure {continued)
Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the
charity's objectives, as well as any associated support costs.
Grants 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 when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a
commitment, bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon nolificalion of the interest paid or payable by the Bank.
1.6 Investments
Fixed asset investments are a fomi of financial instrument and are initially recognised al their
transaction cost and subsequently measured al fair value at the Balance Sheet dale, unless the value
cannot be measured reliably in which case it is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on
inveslmenls, in the Slalement of Financial Activities.
1.7 Investment property
Investment property is carried at fair value determined annually and derived from the current market
rents and investment property yields for comparable real estate, adjusted if necessary for any
difference in the nature, location or condition of the specific asset. No depreciation is provided.
Changes in fair value are recognised in the Statement of Financial Activities.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
1.9 Liabilities
Liabilities are recognised when there is an obligation at the Balan￿ Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the selllement can be eslimaled reliably.
Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debt or the
amount il has re￿iVed as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required lo sellle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rale that reflects the risks specific to the liability. The
unwinding of the discount is recognised within interest payable and similar charges.
Page 9

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Accounting policies Icontinuedl
1.10 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their selllemenl value with the ex￿ptIOn of bank loans which are subsequently
measured al amortised cost using the effective interest method.
1.11 Fund accounting
General fvnds are unreslricled fvnds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Income from donations and legacies
Unrestricted
funds
2023
Total
funds
2023
Donations
1,000
1,000
Unrestricted
funds
2022
Total
funds
2022
Donations
I,(X70
1,000
Investment income
Unrestricted
funds
2023
Total
funds
2023
Rental income
Investment (dividend and interest) income
Bank interest
33,352
90,814
145
33,352
90,814
145
124,311
124,311
Page 10

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Investment income Icontinuedl
Unrestricted
funds
2022
Total
funds
2022
Rental income
Investment (dividend and interest) income
35,472
75,233
35,472
75,233
110, 705
110,705
Cost of ralslng funds
Unrestrlcted
funds
2023
Total
funds
2023
Investment management fees and overseas withholding taxes
Bank charges
Propety management costs
28,777
250
28,777
250
1,000
1,000
30,027
30,027
Unrestrict8d
funds
2022
Total
funds
2022
Investment management fees and overseas withholding taxes
Propety management costs
29,377
7,000
29,377
1,000
30,377
30,37T
Page11

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Analysis of grants
Grants to
Institutions
2023
Total
funds
2023
Supporting good causes
70,411
70,411
Grants to
Institutions
2022
Total
funds
2022
Supporting good causes
75,690
75,690
The charity has made the following material grants to institutions during the year..
2023
2022
Main recipients of institutional grants
Chai Cancer Care
7,500
16.500
7.500
6,000
7,500
15.000
Jewish Care
UK Jewish Film
7,500
5,000
10,000
World Jewish Relief
JW3 Development
Food bank aid
GIFT
Totsl of all grants under £5,000
7.500
5.000
20,411
5,000
25,690
70,411
75,690
Analysis of charitable exponditure
2023
2022
Community
Culture
Health
55.093
6.568
8,750
37,716
13,224
24, 750
70,411
75,690
Page 12

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Analysis of expenditure by activities
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Supporting good causes
70,411
9,480
79,891
Grant
funding ol
activities
2022
Support
Gosts
2022
Total
funds
2022
Supporting good causes
75,690
5,522
81,212
Analysis of support costs
Supporting
good
causes
2023
Total
funds
2023
Trustee expenses
Accountancy fees
3,000
6,480
3,000
6,480
9,480
9,480
Supporting
good causes
2022
Total
funds
2022
Accountancy fees
5,522
5,522
Page 13

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Independent examiner's remuneration
The Independent Examination fee amounts to £5,52012021- £4,800).
Net incomelexpendituro
During the year, no Trustees re￿iVed any renumeralion12022 - £NILI
During the year, no Trustees re￿iVed any benefits In kind12022 - £NILI.
During the year, One Trustee re￿iVed £3,000 of reimbursement of expenses12022 - £NILI.
Investment property
Freehold
Investment
property
Valuation
At 6 April 2022
300,000
At S April 2023
300,000
The Iruslees have considered the market value of the investment propety at the year end and believe
there to be no material change from the prior year.
Page 14

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
10.
Fixed asset investments
Listed
investments
Cash
Total
Cost or valuatlon
At 6 April 2022
Additions
Disposals
Revaluations
4,689,134
470.165
1429.275}
1235,245}
40,259
1548.9411
520.182
4,729,393
178.7761
90,907
{235,2451
At 5 April 2023
4,494,779
11,500
4,506,279
Net book value
At 5 April 2023
4,494,779
11,500
4,506,279
At 5 April 2022
4,689. 134
40.259
4, 729.393
Fixed asset investments are held in the UK, Europe. North America, in the Far East and Australia.
11. Creditors: Amounts falling due within one year
2023
2022
Bank overdrafts
Accruals and deferred income
2.495
11.018
9,380
7,344
13,513
16,724
Page 15

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
12. Statement of funds
statement of funds - current year
Balance at 6
April 2022
Gainsl Balance at 5
(Losses) April 2023
Income Expenditure
Unrestricted funds
General Funds - all funds
5.012,669
125.311
{109.9181
1235.245} 4.792,817
Statement of funds - prior year
Balan￿ at
6 Apnl 2021
Gains/ Balan￿ at
(Losses) 5 Apnl 2022
Income Expenditure
Unrestricted funds
General Funds - all fvnds
4,548,719
111.705
{17 1.589)
463.834
5.072.669
Page 16

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
13.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
4,506,279
300,000
51
4.506,279
300,000
51
Investment property
Current assets
Creditors due within one year
113,5131
113.5131
Totsl
4,792,817
4,792,817
Anatysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Fixed asset investments
Investment propety
Creditors due within one year
4, 729.393
300,(X70
(16, 724)
4. 729.393
300,000
(16, 724)
Totsl
5,012,669
5,072,669
14. Related party transactions
Administrative overheads are provided al Nil cost by Yelverton Properties Limited, an associate company
of the Trustees. These serVI￿S are valued al £1,000 12022.. £1,000) and included in donations (note 21
and costs of raising funds (note 41.
Page 17