Charity number: 245207
THE BERTIE BLACK FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

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
Balance Sheet
Notes to the Financial Statements
7-16

THE BERTIE BLACK FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees
Mrs C Black
Mr H S Black
Mrs l R Seddon
Mr I Seddon
Charity registered
number
245207
Registered Address
Ground Floor
4 Portsdown Mews
London
NW117HD
Independent Examiner
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Bank
Barclays Bank plc
Cornwall Street
Plymouth
Devon
PL12HA
Solicitors
Charles Russell Speechlys LLP
6 New Street Square
London
EC4A 3LX
Page 1

THE BERTIE BLACK FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present their annual report together with the financial statements of the charity for the 6 April 2023
to 5 April 2024.
Objectives and activities
a. Policies and objectives
The objectives of the Foundation are-
the relief and assistance of poor and needy persons-
- the advancement of education;
the advancement of religion.,
- other purposes beneficial to the community"
The charity's main activity in the year was to satisfy the purposes of the foundation and to ensure financial
stability in a period of continuing economic uncertianty-
There is a review of the grant making policy annually to ensure that it reflects the charity'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 to a range of UK charities with the value of grants totalling £88,473
(2023 - £70,411).
Achievements and performance
a. Investment policy and perforniance
Our stock market investment advisors are instructed to invest to maximise the total 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 property investment is monitored regularly by the
trustees.
Financial review
. Going concern
Although the Charity faced a fall in the value in its investment portfolio at the year-end, this has since been
partially recovered. The Charity also 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 at the year end.
The Trustees therefore consider that based on the circUmstan￿S existing at the date of signature of the
accounts the operations of the charity are not likely to be affected in a material manner by the current
Coronavirus outbreak.
b. Financial perforniance
Investments during the year generated income of £148,312 (2023 - £124,311). Costs of generating income
totalled £31,078 {2023 - £30,027). The charity made a deficit before revaluation of investments for the year of
£20,357 (2023 - £15,393).
Page 2

THE BERTIE BLACK FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
c. Reserves policy
The trustees have a reserves policy whereby cash is kept at a level which will enable three months of operational
costs to be met. Reserves in the form of investments are to be kept to a level which will allow the charity to
generate income for the grant making program, whilst preserving sufficient capital to enable grant making in
future periods.
Structure, governance and management
a. Constitution
The Bertie Black Foundation is a registered charity, number 245207. and is constituted under a Trust deed dated
31 March 1965 and is an unincorporated association.
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.
. Organisational structure and decision making
The Foundation was established by an initial gift from Mr Bertie Black. The foundation is managed entirely by the
trustees, there being no employees. The trustees are related to or are family members of the descendants of the
founder. Mr Bertie Black. Decisions are taken by a majority of trustees including the power of appointment of
new trustees.
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordan￿ with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practi￿).
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 state of affairs of the charity and of its incoming resources
and application of reSoUr￿s, 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 con￿rn 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 disdose 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..
Mr H S Black
Trustee
Date: 2110312025
Page 3

THE BERTIE BLACK FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Independent Examiner's Report to the Trustees of The Bertie Black Foundation {'the charity.)
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the charitys 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)Ib) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confimi 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 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 fairf view which is not a matter considered as part of an independent
examination.
I have no COn￿rnS 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. SaMhs18kSQ
Dated: 2110312025
lan Saunderson, FCA
BKL Audit LLP
Chartered Accountants
London
Page 4

THE BERTIE BLACK FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Investments
1,000
148.312
1,000
148.312
1,000
124,311
Total income
149.312
149.312
125,311
Expenditure on:
Raising funds
Charitable activities
31.078
97,877
31.078
97,877
30,027
79,891
Total expenditure
128,955
128,955
109,918
Net gainsl(losses) on investments
235.525
235.525
(235,245J
Net movement in funds
255.882
255.882
(219, 852J
Reconciliation of funds:
Total funds brought forward
Net movement in funds
4,792.817
255,882
4.792.817
255,882
5,012,669
(219, 852)
Total funds carried forward
5,048,699
5,048,699
4, 792,817
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 16 form part of these financial statements.
Page 5

THE BERTIE BLACK FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Note
Fixed assets
Investments
10
4,715,221
300.000
4, 506,279
300,000
Investment propety
5,015,221
4, 806,279
Current assets
Debtors
1.393
43,605
Cash at bank and in hand
51
44.998
51
Creditors.. amounts falling due within one
year
12
{11.520)
(13,513J
Net current assets I liabilites
33,478
(13,462)
Total net assets
5,048.699
4, 792,817
Charity funds
Unrestricted funds
13
5,048,699
4, 792,817
Total funds
5,048.699
4, 792,817
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Mr H S Black
Trustee
Date: 2110312025
The notes on pages 7 to 16 form part of these financial statements.
Page 6

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with the Charities SORP {FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) 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 fairf view. This departure has involved following the Charities SORP (FRS 102} published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practi￿ effective from 1 April 2005 which has Sin￿ been withdrawn.
The Bertie Black Foundation constitutes a public benefit entity as defined by FRS 102.
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 at the year end.
As such, the trustees consider that the Charity is able to continue its activities for a period of at least
elve months from the date of signature of these accounts and the accounts have therefore been
prepared on a going con￿rn basis.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the amount of income receivable can be measured reliably.
1A 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. Expenditure 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
involved in undertaking each activity- Direct costs attributable to 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 to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. 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 fvnds includes all expenditure incurred by the charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
charity's objectives, as well as any associated support costs.
Page 7

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting policies (continued)
1A Expenditure (continued)
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 met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on fijnds held on deposit is included when re￿1vable and the amount can be measured
reliably by the charity- this is nomially upon notification of the interest paid or payable by the Bank.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl on
investments, in the Statement of Financial Activities.
1.7 Investment property
Investment propety 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 indudes 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.
1.9 Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the
amount it has re￿IVed as advanced payments for the goods or ServI￿S it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The
unwinding of the discount is recognised within interest payable and similar charges.
Page 8

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting policies (continued)
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 at their settlement value with the ex￿ptIOn of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.11 Fund accounting
General funds are unrestricted fijnds 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
2024
Total
funds
2024
Donations
1,000
1.000
Unrestricted
funds
2023
Total
funds
2023
Donations
1,000
1,000
Investment income
Unrestricted
funds
2024
Total
funds
2024
Rental income
34,676
104,758
8,878
34,676
104.758
8,878
Investment {dividend and interest) income
Bank interest
148,312
148,312
Page 9

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Investment income (continued)
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
Cost of raising funds
Unrestricted
funds
2024
Total
funds
2024
Investment management fees and overseas withholding taxes
Property management costs
30,078
1,000
30,078
1,000
31,078
31,078
Unrestricted
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
Page 10

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Anatysis of grants
Grants to
Institutions
2024
Total
funds
2024
Supporting good causes
88,473
88,473
Grants to
Institutions
2023
Total
funds
2023
Supporting good causes
70,411
70,411
Page11

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Anatysis of grants (continued)
The charity has made the following material grants to institutions during the year:
2024
2023
Main recipients of institutional grants
Chai Cancer Care
7,500
15.000
7,500
6.325
7,500
7,500
16,500
7,500
6,000
7,500
5,000
Jewish Care
UK Jewish Film
World Jewish Relief
Food bank aid
GIFT
British Friends of Jaffa Institute
British Emunah
7,500
5.000
32,148
Total of all grants under £5.000
20,411
88.473
70,411
Anatysis of charitsble expenditure
2024
2023
Community
Culture
Health
75,748
10,325
2,400
55,093
6,568
8, 750
88,473
70,411
Anatysis of expenditure by activities
Grant
funding of
activities
2024
Support
costs
2024
Total
funds
2024
Supporting good causes
88,473
9,404
97,877
Page 12

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Anatysis of expenditure by activities (continued)
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Supporting good causes
70,411
9,480
79,891
Anatysis of support costs
Supporting
good
causes
2024
Total
funds
2024
Trustee expenses
Bank charges
Valuation expenses
Accountancy fees
66
66
242
6,000
3,096
242
6.000
3,096
9,404
9,404
Supporting
good causes
2023
Total
funds
2023
Trustee expenses
Accountancy fees
3,000
6,480
3,000
6,480
9,480
9,480
Independent examiner's remuneration
The Independent Examination fee amounts to £5,880 {2023- £5,640}.
Page 13

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Net incomelexpenditure
During the year, no Trustees received any renumeration {2023 - £NIL)
During the year, no Trustees received any benefits in kind (2023 - £NIL).
During the year, 1 Trustee received £66 of reimbursement of expenses (2023- £3,000).
Investment property
Freehold
investment
property
Valuation
At 6 April 2023
300,000
At 5 April 2024
300,000
The trustees 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.
10. Fixed asset investments
Listed
investments
Cash
Total
Cost or valuation
At 6 April 2023
Additions
4,494,779
11,552
4,506,331
969.336
1,247,615
2.216,951
11,015,704) (1,227,882) 12,243,586
235.525
235.525
Disposals
Revaluations
At 5 April 2024
4,683,936
31,285
4,715,221
Net book value
At 5 April 2024
4,683.936
31,285
4.715.221
At 5 Apnl 2023
4,494, 779
11.552
4, 506,331
Fixed asset investments are held in the UK, Europe. North America, in the Far East and Australia.
Page 14

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
11.
Debtors
2024
2023
Due within one year
Prepayments and accrued income
1.393
1,393
12. Creditors: Amounts falling due within one year
2024
2023
Bank overdrafts
Accruals and deferred income
2,495
11,018
11.520
11,520
13,513
13. Ststement of funds
ststement of funds - current year
Balance at 6
April 2023
Gainsl Balance at S
(Losses) April 2024
Income Expenditure
Unrestricted funds
General Funds- all funds
4,792,817
149,312
1128,955)
235,525
5,048,699
ststement of funds - prior year
Balan￿ at
6 Apnl 2022
Gain
Balance at
(Losses) 5 April 2023
Income Expenditure
Unrestricted funds
General Funds- all funds
5,012,669
124,311
(108,918)
(235, 245)
4, 792, 817
Page 15

THE BERTIE BLACK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
14.
Analysis of net assets between funds
Anatysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
4,715,221
300,000
44,998
(11,5201
4.715,221
300,000
44,998
(11,520)
Investment property
Current assets
Creditors due within one year
Total
5,048,699
5,048,699
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
4, 506,279
300, 000
51
4, 506,279
300,000
51
Investment propety
Current assets
Creditors due within one year
(13,513)
(13,513)
Total
4, 792,817
4, 792, 817
15. Related party transactions
Administrative overheads are provided at Nil cost by Yelverton Properties Limited, an associate company
of the Trustees. These services are valued at £1.000 (2023.. £1,000) and included in donations (note 21
and costs of raising funds.
During the year, the charity had paid £7.200 of expenses to Yelverton Properties Limited (2023.. £Nil)
Page 16