Charity Registration No. NIC1009831XR91653
Company Registration No. N1058233 (Northern Ireland)
THE BLACK BOX TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

THE BLACK BOX TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms R Mccarthy
Mr S Watson
Ms S Dickson
Mr N Sinclair
Ms S Murray (Appointed 16th December 2022)
Mr P Boitel-Gill {Appointed 16th December 2022)
Mr C Flynn (Appointed 16th December 2022)
Mr B Stafford (Appointed 16th December 2022)
Ms S Jones (Co-opt)
Secretary
Mr B Stratford
Charity number
NIC100983/XR91653
Company nurnber
N1058233
Registered office
18-22 Hill Street
Belfast
Co. Antrim
Northern Ireland
BT1 2LA
Auditor
FPM Accountants Limited
1 3 Arthur Street
Belfast
Co. Antrim
Northern Ireland
BT14GA

THE BLACK BOX TRUST
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
12
Independent auditor's report
13-18
Statement of financial activities
19
Balance sheet
20-21
Statement of cash flows
22
Notes to the financial statements

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report and financial statements for the year ended 31 March 2023.
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 charity's governing document, the Companies Act 2006 and
"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102). (as amended for accounting periods commencing from 1 January 2019)
Chair Comments
The Board presents the Trustees Report for the year 2022/23. We are reporting on a year that has followed
significant period which created huge financial pressures on Northern Ireland's arts and creative sectors. The
challenges presented by slow recovery from COVID-19 related venue closures as well as the increased cost
of living have had an impact on the organisation.
In the last number of years through various external factors, The Black Box Trust, along with the rest of
society went through series of changes, challenges, adaptstions and getting used to 'new normals,. The
turbulence of Brexit, COVID-19, a cost-of-living crisis, and a lack of a sitting Executive caused a call to action
for the arts sector to show its resilience and to continue to operate in challenging times.
Multi-faceted challenges with the arts sector as a whole in Northern Ireland are ongoing. As Inflation rises,
the full impact of the cost-of-living crisis was felt in the winter months of 2022.
As well as external factors, the organisation went through a significant period of staff change, wth the
resignation of the previous Director and appointing of a new Director, a change in Gig Buddies Coordinator
staff, and the resignation of the Outreach Officer following a gap in project funding. Despite this, the
manner in which the organisation has responded to this is testimony to the diligence and resourcefulness of
the staff and Board and support of our funders.
In an ever-changing Cathedral Quarter, it is important to maintain and support creative communitis,
particularly in an area now regarded as a leading Cultural Quarter far beyond Belfast. The Black Box
continues to bring that invaluable offer and sense of 'destination' to visitors with its diverse proJramme of
innovative music, comedy, science, visual arts, disability arts, left-field festivals, and queer arts. The
organisation continues to provide a necessary space and voice positively supporting the development and
success of arts and artists in this cultural quarter.
The dedication of staff, the continuation of artistic programming and promotion, the loyalty of festivals,
artists and audiences alike continues to inspire and remind the Board of Trustees of the importance of not
just the venue space, but the cultural impact of The Black BOK and how it is a vital part of the Belfast and
Northern Ireland arts ecosystem.
Activities as follows:
Full return of annual programming back to pre-COVID-19 levels
Resignation of Rachael Campbell-Palmer as Director
Resignation of Aoife O'Reilly as Gig Buddies Co-ordinator
Appointment of Isabella Koban as Gig Buddies Co-ordinator
Appointment of Kathryn Mcshane as Director
Resignation of Seonaid Murray as Outreach Officer
Full Return of Programming Partnerships and Festivals
Continuation of Management Mentoring
Growth of Finance sub-committee to include operations manager and financial administrator.
Strategic Analysis & Planning for 2023/24 and beyond begun

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR fHE YEAR ENDED 31 MARCH 2023
Funding:
Dormant Funds - Continuation into Year 2 of the 2 Year fvnding
The National Lottery People & Communities- Granted £129,449.01 over 3 years (2023 - 2026)
Belfast City Council Core Multi-Annual Grant- Year 3 of £60,000 per year over 4 years
Arts Council Northern Ireland Annual Funding Programme - Awarded standstill amount of £24,500
Belfast City Council Gig Buddies-year 2 of approx. £45,000 over 4 years
ACNI Health & Safety Capital Grant - Awarded £7588
Nationwide Community Fund - awarded £4856
British Science Association - Awarded £500
Film Hub Nl Exhibition Fund - Awarded £2565
Film Hub Midlands BFI Major Programmes - Awarded £4145
Music Venue Trust Pipeline Investment Fund - Awarded £4200
The continued support from our core funders Belfast City Council, The National Lottery and the Arts Council
Northern Ireland is vital in safeguarding the organisation for the future, The sUPPOrt from funders
throughout the year for project and capital costs has helped build back the organisation post Cov1￿19 and
allow to keep the wheels turning during a challenging economic and political landscape.
This report relate5 to The Black Box Trust Financial year 01 April 2022 to 31 March 2023.
As per our constitution, the Vision and Mission of The Black Box Trust read5:
Vision
The Black Box will be the leading, alternative venue for use by festivals, promoters, community gtDUPS and
individuals in the greater Belfast area for innovative, grassroots, radical and accessible work.
Mission
The Black Box is a vibrant arts space in the heart of Belfast's cultural cathedral Quarter. Affordability,
accessibility, and quality are key to the work and events we present. We believe in removing Barriers to
audiences and improving the ability of all to experience, enjoy and engage with the arts. We present work
across the sectors including music, literature, theatre, film, comedy, live art, and cabaret,, and provide a high-
perfonmance incubation space for emerging artists, curators, and promoters to experiment and present their
art form to audiences. As a not-for-profit arts venue, the Black Box has strong links with both CoM￿nity
initiatives as well as Belfast's highest profile festivals. We aim to continue to encourage the growth of
Belfast's creative talent, play a role in the city's arts offer to all of its audiences and be a valued employer
throughout the sector.

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Purpose of The Charity and Charity's Objectives:
To provide a cultural space within the Cathedral Quarter in Belfast to advance arts, CLSlture and
sciences and promote the public's knowledge, understanding and appreciation of these purposes by
providing facilities, venues, seNices, and staff and by developing and establishing programmes for
live music, theatre, literature, comedy, film, visual, abstract, conceptual and performance art amonJst
others.
To advance citizenship and community development by supporting social and community
infrastructure, promoting social inclusion and volunteering through engagement with arts,
To promote the effectiveness of charities and the effective use of charitable resources by providing
office space for administrative purposes including event organisation and festival launches,
To advance creative education in arts and drama by fostering, improving, and encouraging new and
developing artistic talent to improve individual and group competences and skills,
To promote relief of those in need by reason of age or disability by providing facilities, developing,
and operating programmes to engage with persons of 16 years or over, older adults and/or adults
with learning disabilities to promote social inclusion, learn new skills including advocacy and
encourage the use of their creative abilities
Artistic and Organisational Values:
Through our values we will create a space that celebrates arts and culture through visual arL music, theatre,
science, literature, and everything in be￿een. The unique selling points of the venue are its pragmatic and
proactive approach, welcoming and safe atmosphere, and alternative programming, and this should be
maintained.
Adventurous Taking creative risk - risk benefitl
Alternative A Platform for original, unusual, emerging, left-of-centre work
Creative Working creatively and with creative people
Collaborative Working with other artists, organisations, sharing our ideas & resources
Accountable Open, answerable, and responsible practices and processes
Innovative Inventive, brave, original new ways of working and producing
Provoking Stimulate debate
Stimulating Generating ideas and responses and inspiring new work
Curious Asking questions, allowing audiences to discover and wonder
Radical An imaginative edge of creative change, social change through arts engagement
Welcoming Create a safe, welcoming space for audience and artist alike
The Black Box remains a safe and welcoming space for all. The venue is one of the most LGBTQ+ friendly
spaces in the city, with staff trained in LGBTQ+ awareness and a policy of supporting queer arts. As well as
being home to the award-winning annual Outburst Queer Arts Festival which would not have been able to
grow without the support of the venue - the Box is home to many Pride events and LGBTQ+ film screenings,
talks and workshops.

THE BLACK BOX TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR EIVDED 31 MARCH 2023
What makes The Black Box unique is its core ethos of supporting equitable access, and social inclusion for
participants, audiences, and the creative community of the city. The venue is a hot bed of innovative arts
and cultural practice, much of this coming from those who are marginalized, underrepresented and under-
resourced in wider arts provision and cultural development.
Within the 2022/23 Financial Year, The Black Box hosted, produced and programmed 655 events, involving
1600 artists and welcoming an audience of 43,355 people from Belfast, wider Northern Ireland, the Republic
of Ireland and the UK as well as international audiences. While audiences are still lower than pre COVID-19
levels, this number has increased from 2021122.
Feedback from audiences, participants, clients and stakeholders continues to be positive. The 81ack Box was
in the top 3 of venues mentioned as favourite places to visit, in The Audience Panel 2021 (The Audience
Panel, Thrive, 2021), just behind The Lyric and The Grand Opera House. As a 300-capacity venue, we are
more than punching above our weight.
Maln Actlvities:
Our main activities and programme are fully aligned to our Strategic Aims 2019-2024 as follows..
Creative Social Change,. using creativity to support social inclusion, integration and equality and
empower people, especially underrepresented groups by developing ski115 and social experiences
Creative Space: creating shared spaces and opportunities for artist, producers and performers to
experiment test ideas, be innovative and build audiences,
Creative Innovation & Partnership: being champions for partnership working, shared learning, and
connecting others. We have an open and welcoming approach and invest in developing
relationships to support others to fulfill their potential and contribute to the critical mass of artistic
endeavor and performance in Belfast.
Creative Destinatlon: being an Ou￿ard looking and progressive organisation and believing in the
benefits of connecting with and sharing knowledge with international communities
Central to the cultural significance of the Black Box is our commitment to community and partnership
working, and building on this commitment in a strategic manner is key to building to a place of financial
stability following a few years of multi-faceted challenges, both intemal and external.
This is achieved through:
Core Partnerships
The Black Box Trust is a champion of the arts and promotes access and inclusion for all. The Black Box
continues to be funded annually as an anchor client by Belfast City Council via the Core Multi-Annual Grant
and by Arts Council Northern Ireland through the Annual Funding Programme. The Black Box Trust's
strategic aims are aligned with the Strategic Framework for Developing the Arts {2019- 2024), The Belfast
Agenda (2023-2027), and A City Imagining (2019-2024) cultural strategies.
2022123 Core Partnerships:
Belfast City Council, The National Lottery, Arts Council of Northern Ireland, Music Venue Trust

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Festival Partnership5
The Black Box has been known to audiences as home to 27 key festivals annually (including Cathedral
Quarter Arts Festival, Belfast Film Festival, Outburst Queer Arts Festival, Out to Lunch and Nl sc1￿Ce Festival
as being most notable); the venue's most vital work is in creating spaces and opportunities for new artists
and producers and social opportunities for some of our most vulnerable and socially isolated communities.
These connections can be made with audiences and artists alike, through working with Festivals.
Our 2022/23 Festival Partners:
Out To Lunch Festival, Independent Venue Weel Nl Science Festival, XR Festival, Brilliant Corners Festival of
Jau St. Patricks Day, Imagine Festival of Ideas & Politics, Sonorities Festival, Cathedral Quarter Arts Festival,
Hit the North, Nl Mental Health Arts Festival, OUTPUT, Belfast City Blues Festival, Learning Disabilty Pride
Festival, Stendhal Festival, AVA, Belfast Trad Festival, Belfast PRIDE, Film Devour Short Film Festival,
Cinemagic, Bounce Disability Arts Festival, Belfast International Arts Festival, Docs Ireland, Belfast Film
Festival, Outburst Queer Arts Festival, Sounds of Belfast.
Programming Partnerships
Working with promoters and partner programmers, we are able to continue to deliver high quality arts to
our audiences while sharing the workload of programming and producing events. These partnerships are
vital to continuing to present new and exciting work to audiences.
Our 2022123 Programming Partnerships:
Strange Victory, Sound Culture, Table It, Music Capital, Ghouls on Film, Seedhead Arts, Moving On Music,
Cathedral Quarter Arts Festival, Shine, Tenx9, CQ BID.
Black Box Programme & Promotlons
Through in-house programming, the Black Box hosts a year-round selection of gigs, workshops, DJ nights,
talks, debates, lectures, and open forums that promote active citizenship, support engagement, provide an
outlet to engage with challenging new work, and remind people that at our core we want everyone to have
good time.
Our 2022/23 Black Box Programme & Promotions (highlights):
The First Slip, SKULL Overboard, DJ Residencies, Late Night Art Exhibitions Programme, NOT, Fem Brady,
Sarah Keyworth.
Black Box Projects & Outreach
The Black Box Projects are visible, through bringing our community of Adults with Learning Disabilities to
the heart of the City Centre. We offer a shared space and reduce stigma, through ensuring all of our events
are equitably acce55ible, not just our outreach projects. We will continue to do what we do well, while
enhancing our offering along the way. Key events and activities are.. Black Moon Disco, Creating
Connections, Moon Music, Mini Moon and Gig Buddies.
Our 2022123 Project5 & Outreach Partnerships:
Belfast City Council, Gig Buddies, Attitude is Everything, Learning Disability Pride, Mencap, Now Group,
Orchardville, University of Ulster, University of Atypical, Nl Science Festival, Beat Carnival, Creative Lives,
Moving on Music, L'Arche, Feile an Phobal, Fonacab.

THE BLACK BOX TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Hire Offer
An affordable and accessible venue to hire for hundreds of independent promoters, producers, artists,
performers, SME'S, community groups and charities every year.
Milestones & Achievements:
Organisational restructuring & hiring of an Operations Manager
The Audience Panel (Thrive, 2021) suNey results ranking The Black Box 3rd favourite venue in
Belfast, behind Grand Opera House & The Lyric Theatre
Recruitment of a new Director
Successfully awarded National Lottery People & Communities Funding
Beginning the process of conducting strategic analysis of organization with staff.
Key Prloritle5 for 2023124
We will..
Continue to work on our strategic analysis and the development of our new 4 Year Strategic Plan.
Take stock of our position now 12 months removed from COVID-19 restrictions.
Ensure effective planning for rising costs of living which will affect us as an organization as well as
our audiences
Commit to a renewed and realistic reserves policy
Carry out a skills audit of Board and Staff to identify strengths and areas for improvement
Financial Review:
A review of the charity's f inancial position at the end of the year 2022123 has been another challenging year,
due to increased cost of living and significant staffing change. The Director has been working closely with
the finance staff, board, and third-party consultants to continue to improve our financial systems and
position. Within the process of strategic analysis, it has been identified that a more realistic reserves policy is
to be developed by the director and the board of trustees, and a Business Development Sub-committee
should be formed to assist the Director in diversifying income.
Steps to reduce Deficit:
Continued outsourcing of financial management role to Christine Whiteman.
Manage strategic funding targets with core funders ACNI AFP & Belfast City Council CMAG
programme and build on partnership with The National Lottery.
Review Direct Debits & Subscriptions to identify where spend can be reduced
Review utilities to identify if better rates can be achieved.
Manage strategic funding targets with project funders Garfield Weston, Arts & Business, MW.
Deliver fundraising programmes through membership schemes, donations, fundraising events, and
online crowd-funding donations with a particular focus on recharging the membership programme.
Develop Business Development Sub-committee to identify income generation streams and
sponsorship,
Deliver a structure review to cover accountable reporting and review arrangements.
Review organisation expenditure formally on a monthly basis.
Review board as outlined above to identify skills & experience gaps aligned to strategic priority
areas.

THE BLACK BOX TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR EIVDED 31 MARCH 2023
Trustees Serving at the time of the Report:
Norman Sinclair- Chair
Chris Flynn - Treasurer
Brian Stratford - Secretary
Sandra Murray
Pierre Boitel-Gill
Sheena Dixon (Maternity Leave)
Ruth Mccarthy
Stuart Watson
Sarah Jones (Co-opted)
Maurane Ramon (Co-opted)
Trustees servlng 2022123..
Norman Sinclair - Chair
Chris Flynn - Treasurer
Brian Stratford - Secretary
Sandra Murray
Pierre Boitel-Gill
Sheena Dixon (Maternity Leave)
Ruth Mccarthy
Stuart Watson
Sarah Jones (Co-opted)
Professional Advisors & Service5:
Ban￿. Bank of Ireland,
Solicitors: Higgins, Hollywood Deazley
Flnance Services: Christine Whiteman

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
stsff Structure 2022123:
Rachael Campbell-Palmer, Director (Outgoing Sept 20221 {
Kathryn Mcshane, Director (Incoming November 20221 (m
Neil Jacques. Operations Manager {FT)
Niall Dougherty, Admin & Comms Officer (32hr per/w contract)
Seonaid Murray, Outreach Officer (Outgoing December 2022) 132hr per/w contract)
Aoife O'Reilly, Gig Buddies Project Coordinator (Outgoing August 2022) {24hr perlw)
Isabella Koban, Gig Buddies Project Coordinator {Incoming September 2022) (24hr per/w)
Addison Paterson, Promotions & Social Media (16hr perlw External Contractor)
Darren McGuigan, Venue Manager (FT)
Paul McLaughlin, Aisling Kelly Duty Managers (PT)
Up to 12 venue staff (PT, casual hours)
Door supeNisors IPT, casuall
The Black Box team are highly experienced and motivated and hold a wide and varied range of skills
between them. Skills held include:
Excellent customer care
First Aid
Health & Safety
Fire Safety
Child Protection and Adults at Risk Safeguarding
Considerable technical expertise
Fo￿ard thinking
Self-motivated
Management skills - events, budget5, people, time
Marketing and PR
Finance and Accountancy
Creativity and Imagination
Years of programming expertise
Culturé of the Organisation:
We have worked on developing user-centered Design Thinking techniques to implement a set of goals to
encourage all staff members:
Communication. Good team communication is key for healthy day to day operations, and job
satisfaction. Ensure the team are aware the value they add to the organization.
Share the "big picture" with employees. Staff are consulted on this Report, as well as the Black Box
Strategic Analysis, Business Planning and the Black Box 4 Year Strategic Plan. We hold regular staff
meetings and opportunities for feedback and discussion.
Work with employees to set challenging, yet attainable goals. Ensure Appraisals are held for staff to
give opportunity to reflect and set annual goals.
Give them a real voice in the Black Box's future. Advice will be tsken from employees and rewarded,
for example a 'duvet day,, staff feedback box.

THE BLACK BOX TRUST
TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Encourage employees to be innovative. Give people space to think, try out ideas, visit other venues
and businesses to get inspired.
Put systems in place for measuring productivity. Look at who is working where, attaining the highest
product sales or producing the best customer feedback and reward.
Give feedback, both formal and real time. Establish ongoing evaluative processes so people can gel
feedback on how well they're meeting their goals both in real time and at scheduled assessment
times.
Salary Policy Statement:
Salaries for the organisation are set and reviewed in line with Government legislation by the Dir&tor and
approved by the Board of Trustees. Staff are reviewed continuously by line management with formal annual
appraisals, staff are paid weekly or monthly depending on job roles and in line with internal financial policy
and procedures. Salaries for senior staff and management are determined and reviewed by the Board of
Trustees.
How the Charity Is Constituted and Governing Documents:
The Black Box Trust is a Company Limited by Guarantee and not having share capital. Governing documents
Memorandum & Articles of Association 21.08.2015.
Auditor FPM Accountants Limited were appointed as auditor to the company and a resolution proposing
that they be re-appointed will be put at a General Meeting,
The trustees, report was approved by the Board of Trustees.
The trustees, who are also the directors of The Black Box Trust for the purpose of company law, 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).
Company Law 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 the incoming resources and application of
resources. including the income and expenditure, of the charitable company for that year.
In preparing these financial statements. the trustees are required to:
Select suitable accounting policies and then apply them consistently
ObseNe the methods and principles in the Charities SORP,.
Make judgements and estimates that are reasonable and prudent,.
State whether applicable UK Accounting Stsndards have been followed, subject to any material
departu￿$ disclosed and explained in the financial 5tstements,' and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statanents
comply with the Companies Act 2006. 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.

THE BLACK BOX TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Inducting Trustees:
Trustees interested in joining the Board must complete an application and interview. Applications are
reviewed by the Board and on approval, new trustees go through an induction, and probationary period (of
three months) following this, successful candidates are formally appointed to the Committee at the next
coming AGM, or at an EGM, Trustee induction packs include information from the last AGM; minutes and
annual report, minutes from the last three Committee meetings, a copy of the Black Box Trustee Code of
Conduct and are appointed a mentor within the current Committee for support and supervision. Our
processes and policy are developed in line with The Code of Good Governance handbook created by the
Developing Governance Group and with ongoing support from Arts & Business.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year
and up to the date of signature of the financial statements were:
Ms R Mccarthy
Mr S Watson
Ms S Dickson
Mr N Sinclair
Ms S Murray (Appointed 16th December 2022)
Mr P Boitel-Gill (Appointed 16th December 2022)
Mr C Flynn (Appointed 16th December 2022)
Mr B Stratford (Appointed 16th December 2022)
Ms J Barkley (Resigned 12th February 2023)
Ms S Jones (Co-opt)
Audltor
FPM Accountants Limited were appointed as auditor to the company and a resolution proposing that they
be re-appointed will be put at a General Meeting.
10-

THE BLACK BOX TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Disclosure of infonnation to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to
the audit, but of which the auditor is unaware. They have further confirmed that they have taken apFropriate
steps to identify such relevant information and to estsblish that the auditor is aware of such infomiation.
The trustees, report was approved by the Board of Trustees.
Mr N Sinclalr
Trustee
Dated:
20/1.¥..wL
11

THE BLACK BOX TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2023
The trustees, who are also the directors of The Black Box Trust for the purpose of company law, ¥e
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).
Company Law requires the trustees to prepare financial statements for each financial year which gve a true
and fair view of the state of affairs of the charity and of the incoming resources and application cl resources,
including the income and expenditure, of the charitable company for that year.
In preparing these fi nancial statements, the trustees are required to;
select suitable accounting policies and then apply them consistentlyi
observe the methods and principles in the Charities SORP,.
make judgements and estimate5 that are reasonable and prudent and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statemerts comply
with the Companies Act 2006. 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.
12-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE BLACK BOX TRUST
Opinion
We have audited the financial statements of The Black Box Trust (the 'charity') for the
year ended 31 March 2023 which comprise the statement of financial activities, the
balance sheet the statement of cash flows and the notes to the financial statements,
including significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including FRS 102 The Financial Reporting Standard applicable in the UK ano
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31
March 2023 and of its incoming resources and application of resources, for the
year then ended,.
have been properly prepared in accordance with United Kingdom Generally
Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act
2006.
Basls for oplnlon
We condurted our audit in accordance with International Standards on Auditing (UK)
IISAS (UK)) and applicable law. Our responsibilities under those standards are further
described in the Auditors respon5ibi/ities for the audit of thé financial statements
section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK
including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
13-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BLACK BOX TRUST
Conclusions relating to going concern
We draw attention to note 1.2 in the financial statements, which indicates that the
Balance Sheet of The Black Box Trust shows a position of net current liabilities, which
indicates that a material uncertainty exists that may cast significant doubt on the
company's ability to continue as a going concern. Our opinion is not modified in respect
of this matter.
In auditing the financial statements, we have concluded that the trustees, use of the
going concem basis of accounting in the preparation of the financial statements is
appropriate. Our evaluation of the directors, assessment of the entity's ability to
continue to adopt the going concem basis of accounting included reviewing positive
post year end funding position and results.
Our responsibilities and the responsibilities of the trustees with respect to going
concern are described in the relevant sections of this report.
Other infonnation
The other information comprise5 the information included in the annual report other
than the financial statements and our auditor's report thereon. The trustees are
responsible for the other information contained within the annual report. Our opinion
on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon. Our responsibility is to read the other
information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of
the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
14-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BLACK BOX TRUST
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the
Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in oui
opinion:
the infonnation given in the financial statements is inconsistent in any material
respect with the trustees, reporL or
sufficient accounting records have not been kept; or
the financial statements are not in a9reement with the accounting records,. or
we have not received all the information and explanations we require for our
audit.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees, who
are also the diredors of the charity for the purpose of company law, are responsible for
the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such internal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatemen(
whether due to fraud or error. In preparing the financial statements, the trustees are
responsible for assessing the charity's ability to continue as a going concern, disclosing,
as applicable, matters related to going concern and using the going concern basis of
accounting unles5 the trustees either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
15-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BLACK BOX TRUST
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditors under section 65 of the Charities Act (Northern
Ireland) 2008 and report in accordance with the Act and relevant regulations made or
having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, whether due to fraud 01
error, and to issue an auditor's report that includes our opinion. Reasonable assurance is
a high level of assurance but is not a guarantee that an audit condutted in accordance
with ISAS (UK} will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations.
We design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our
procedures are capable of detecting irregularities, including fraud, is detailed below.
16-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BLACK BOX TRUST
We obtained an understanding of the legal and regulatory framework applicable to the
company through enquiry of managemen( sector research and the application ol
cumulative audit knowledge. We identified the following principal laws and regulations
relevant to the company - Companies Act 2006, Charitie5 Act (Northern Ireland) 2008
and the Accounting and Reporting by Charities; Statement of Recommended Practice
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).
We developed an understanding of the key fraud risks to the entity (including how
fraud might occur), the controls in place to help mitigate those risks, and the accounts,
balances and disclosures within the financial statements which may be susceptible to
management bias. Our understanding was obtained through review of the financial
statements for significant accounting estimates, analysis of journal entries, walkthrough
of the key controls cycles in place and enquiry of management.
Our procedures to respond to those risks identified included, but were not limited to..
Enquiry of management, and the entity's solicitors around actual and potential
litigation and claims.
Enquiry of management to identify any instances of non-compliance with laws
and regulation5.
Reviewing minutes of meetings of those charged with governance.
Reviewing financial statement disclosures and testing to supporting
documentation to assess compliance with applicable laws and regulations.
Auditing the risk of management override of controls, includi ng through testing
journal entries and other adjustments for appropriateness, and evaluating the
business rationale of significant transactions outside the normal course of
business.
A further description of our responsibilities is available on the Financial Reporting
Council's website at- httPs'.//www,frc.org.uVauditors responsibilities. This description
forms part of our auditor's reporL

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BLACK BOX TRUST
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with part 4
of the Charities (Accounts and Reports) Regulations 2(X)8. Our audit work has been
undertaken so that we might state to the charity's trustees those matters we are
required to state to them in an auditors, report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other
than the charity and the charity's trustees as a body, for our audit work, for this report,
or for the opinions we have formed.
Lowry Grant (Senior Statutory Auditor)
for and on behalf of FPM Accountants Ltd
Chartered Accountants
Statutory Auditor5
1 3 Arthur Street
Belfast
Co. Antrim
Northem Ireland
BT1 4GA
FPM Accountants Limited is eligible for appointment as auditor of the charity by virtue
of its eligibility for appointment as auditor of a company under of section 1212 of the
Companies Act 2006.
18-

THE BLACK BOX TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 3 7 MARCH 2023
Unrestricted Restricted
funds
funds
2023
2023
Total Unrestricted
funds
2022
Restricted
funds
2022
Total
2023
2022
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Other income
1,087
444,073
8,649
60,000
139,632
61,087
583,705
8,649
32,444
285,531
78
60,000
108,147
92,444
393,678
78
Total income
453,809
199,632
653,441
318,053
168,147
486,200
Ex •nditure on:
Charitable activities
456,441
223,316
679,757
312,005
203,186
515,191
Net expenditure for the
year/
Net movement in funds
(2,632)
{23,684}
(26,316)
6,048
(35,039)
(28,991)
Fund balances at 1
April 2022
192,192)
59,691
(32,501)
(98,240)
94,730
(3,510)
Fund balances at 31
March 2023
{94,824)
36,007
(58,817)
{92,1921
59,691
(32,501)
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities,
The statement of financial activities also complies with the requirements for an income and expenditure
account under the Companies Act 2006.
19-

THE BLACK BOX TRUST
BALANCE SHEET
ASA T37 MARCH 2023
2023
2022
Notes
Fixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand
36,385
35,048
13,470
23,704
3,512
11,382
19,175
6,382
11
40,686
36,939
Creditors: amount5 falling due within
one year
13
(92,9841
161,584)
Net current liabilities
(52,298)
(24,645)
Total assets less current liabilities
(1 S,913)
10,403
Creditors: amounts falling due after
more than one year
14
{42,904)
(42,904)
Net liabilities
{58,817}
(32,501)
Income funds
Restricted funds
Unrestricted funds
1S
36,007
{94,824)
59,691
(92,192)
(58,817)
(32,501)
-20-

THE BLACK BOX TRUST
BALANCE SHEET (CONTINUED)
ASA T31 MARCH 2023
The company is entitled to the exemption from the audit requirement contained in section 477 of the
Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section
65 of the Charities Act {Northern Ireland) 2008. No member of the company has deposited a notice, pursuant
to section 476, requiring an audit of these financial statements under the requirements of the Companies Act
2006.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which
comply with section 386 of the Act and for preparing financial statements which give a true and fair view of
the state of affairs of the company as at the end of the financial year and of its incoming resources and
application of resources, including its income and expenditure, for the financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies
Act 2006 relating to financial Statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements under the
requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the Trustees on
Mr N Sinclair
Trustee
Company Registration No. N1058233
21

THE BLACK BOX TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Notes
Cash flows from operating activities
Cash generated from operations
18
894
18,645
Investing artivities
Purchase of tangible fixed assets
(13,335)
(9,775)
Net cash used in investing activlties
(13,335)
(9,775)
Financing activities
Repayment of borrowings
(2,739)
Net cash {used in)/generated from
financing activities
(2,739)
Net (decrease)fincrease in cash and cash
equivalents
(15,180)
8,871
Cash and cash equivalents at beginning of year
6,382
(2,488)
Cash and cash equivalents at end of year
{8,798)
6,382
Relating to:
Cash at bank and in hand
Bank overdrafts included in creditors
payable within one year
3,512
6,382
(12,310)
22-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
Charity inforniation
The Black Box Trust 15 a private company limited by guarantee incorporated in Northern Ireland. The
registered office is 18-22 Hill Street, Belfas( Co. Antrim, BT12L4 Northern Ireland.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102). {as amended for accounting periods commencing
from l January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
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
These financial statements are prepared on the going concern basis. The trustees have a reasonable
expectation that the charity will continue in operational existence for the foreseeable future, however, the
trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to
continue as a going concern. In the year to 31 March 23 the charity generated a deficit of £2,312 in their
unrestricted reseNes. However, the charity has continued in the current year with its improvements in
systems and structures and also the development of new fund-raising opportunities. Whilst going
concern remains a challenge, in light of actual activity since the year end, the Trustees are confident that
they can continue to reduce the net current liabilities deficit and as such the Trustees have a reasonable
expectation that the charity will continue in operational existence for the foreseeable future.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted fund5 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 to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained bythe
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions hwe been
met, the amounts can be measured reliably, and it is probable that income will be received.
-23-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
(Continued)
Cash donations are recogni5ed on receipt. Other donations are recogni5ed once the charity has been
notified of the donation, unless performance conditions require deferral of the amount Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
paty, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings:
Expenditure on charitable activities includes the promotion and development of music and
activities undertaken to further the purposes of the charity and their associated support costs
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over
their useful lives on the following bases..
Leasehold land and buildings
Plant and equipment
10% Straight Line
20% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in net income/lexpenditure) for the year.
1.7 Impainnent of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any).
1.8 Stocks
Stocks are ststed at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no
or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be
incurred in marketing, selling and distribution.
1.9 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 within borrowings in current liabilities.
-24-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
(Continued)
1.10 Financial instruments
The charity has elected to apply the provisions of Section I I 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments,
Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle
on a net basis or to realise the asset and settle the liability simultaneously.
Bawc 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 nterest.
Financial asset5 classified as receivable within one year are not amortised.
Basic financial liabilitles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price
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 COSL using the effective interest rate method.
Trade creditors are obligations to pay for goods or seNices 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 transaction price and subsequently measured at amortised cost using the effective interest
method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices
are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged a5 an expense as they fall due.
-25-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the 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,
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate 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.
Donations and legacies
Unrestricted Restricted
funds
funds
Total Unrestricted Restricted
funds
funds
Totsl
2023
2023
2023
2022
2022
2022
Donations and gifts
HMRC Job Retention
Scheme
1,087
60,000
61,087
2,766
60,000
62,766
29,678
29,678
1,087
60,000
61,087
32,444
60,000
92,444
Donatlons and gifts
Donations
Belfast City Council
Stephen Clark Fund
Crowd Funder
1,087
1,087
60,000
60,000
60,000
60,000
1,000
1,766
1,000
1,766
1,087
60,000
61,087
2,766
60,000
62,766
-26-

THE BLACK BOX TRUST
NOTES TO•THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitsble activltles
Unrestrtrted
Fund
2023
Restricted
Fund
2023
Total Unre5trirted
2023
Fund
2022
Restricted
Fund
2022
Totsl
2022
Sales within charitable
activities
Performance related
grants
444,073
444,073
203,302
203,302
139,632
139,632
82,229
108,147
190,376
444,073
139,632
583,705
285,531
108,147
393,678
Analysis by fund
Unrestricted funds
Restricted funds
444,073
444,073
139,632
285,531
285,531
108,147
139,632
108,147
444,073
139,632
583,705
285,531
108,147
393,678
Perforniance related grants
ACNI - Programme
ACNI Other Funding
QQUB Film Hub
Department of Finance
Belfast City Council Gig
Buddies
Arts and Business
Whitemountain
Programme
Belfast City Council
Belfast Music Grant
Dormant Funds
Public Health Authority
Other
24,500
7,390
3,317
24,500
7,390
3,317
24,500
24,500
47,087
47,087
35,142
35,142
45,609
45,609
24,489
900
24,489
900
7,005
7,005
1,500
35,480
4,909
9,364
1,500
35,480
4.909
9,364
49,971
49,971
8,845
8,845
139,632
139,632
82,229
108,147
190,376
-27-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Other income
Unrestricted Unrestricted
funds
funds
2023
2022
Other Income
8,649
78
-28-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitable activities
Unrestricted Restricted
Fund
Fund
2023
2023
Total
2023
Total
2022
Staff costs
Direct Costs
Opening Stock
Closing Stock
Artistic Costs
Performance Fees
Production Costs
Door Security
Training
Outside Venue Hire
ITMebsite Costs
116,063
149,763
11,382
(13,4701
36,938
4,850
11,292
13,335
815
116,063
153,523
11,382
(13,470)
48,831
4,850
13,596
14,145
2,785
3,760
81,135
3,058
(11,382)
22,779
4,372
7,290
7,886
915
660
2,776
11,893
2,304
810
1,970
2,624
655
3,279
333,592
21,392
354,984
119,489
Share of support costs (see note 7)
Share of governance costs (see note 7)
116,310
6,539
183,1 S4
18,770
299,464
25,309
350,707
44,995
456,441
223,316
679,757
515,191
Analysis by fund
Unrestricted funds
Restricted funds
456,441
456,441
223,316
312.005
203,186
223,316
456,441
223,316
679,757
515,191
For the year ended 31 March 2022
Unrestricted funds
Restricted funds
312,005
312,005
203,186
203,186
312,005
203,186
515,191
-29-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIVDED 3 7 MARCH 2023
Support costs
Support Governance
costs
osts
2023
Support Governance
costs
costs
2022
Staff costs
Depreciation
Rent
Premises Expenses
Memberships
Finance Charges
Insurance
Travel & Subsistence
Office Expenses
Repairs & Maintenance
Advertising
General Expenses
118,104
11,998
82,428
27,521
5,299
10,729
4,629
2,161
359
12,711
20,012
3,513
118,104
11,998
82,428
27,521
5,299
10,729
4,629
2,161
359
12,711
20,012
3,513
192,844
10,578
81,445
16,896
11,332
4,795
2,064
711
639
20,181
6,969
2,253
192,844
10,578
81,445
16,896
11,332
4,795
2,064
711
639
20,181
6,969
2,253
Audit & accounting fees
Legal and professional
3,063
22,246
3,063
22,246
6,S63
38,432
6,563
38,432
299,464
25,309
324,773
350,707
44,995
395,702
Analysed between
Charitable activities
299,464
25,309
324,773
350,707
44,995
395,702
Govemance costs includes payments to the auditors of £3,500 (2022- £3,500) for audit fees.
Employees
The average monthly number of employees during the year was;
2023
Number
2022
Number
28
25
30-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Employees
Icontinued)
Employment costs
2023
2022
Wages and salaries
Social security costs
Other pension costs
221,994
9,303
2,870
183,242
7,1 $8
234,167
192,844
No employee received remuneration of more than £60,000 during the year {2022-NIL)
Tangible fixed assets
Leasehold land
and bulldlngs
Plant and
equlpmont
Totsl
Cost
At 1 April 2022
Additions
222,664
135,255
13,335
357,919
13,335
At 31 March 2023
222,664
148,590
371,254
Depreclatlon and impairment
At 1 April 2022
Depreciation charged in the year
222,664
100,207
11,998
322,871
11,998
At 31 March 2023
222,664
112,205
334,869
Carrying amount
At 31 March 2023
36,385
36,385
At 31 March 2022
35,048
35,048
10 Stocks
2023
2022
Finished goods and goods for resale
13,470
11,382
31

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
11 Debtors
2023
2022
Amounts falling due within on• year.
Trade debtors
Other debtors
13,365
10,339
2,391
16,784
23,704
19,175
12 Loans and overdrafts
2023
2022
Bank overdrafts
Other loans
12,310
53,862
56,601
66,172
56,601
Payable within one year
Payable after one year
23,268
42,904
13,697
42,904
13 Creditors: amounts falling due wlthin one year
2023
2022
Notes
Bank overdrafts
Other borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals
12
12,310
10,958
13,587
49,529
780
5,820
13,697
5,256
31,666
10,965
92,984
61,584
14 Creditors: amounts falling due after more than one year
2023
2022
Borrowings
42,904
42,904
32-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 3 7 MARCH 2023
15 Restricted 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:
Movement in funds
Incoming Resources Balance at 31
resources
expended March 2023
Balance at 1
April 2022
Capital
ACNI Small Capital
ACNI Resilience
ACNI Health & Safety
Community Leaders BSA
HSBC
Dormant Funds TNL
Nationwide Community Fund Grant
ACNI AFP
QUB Film Hub Funding
Gig Buddies
Paul Hamlyn
Whitemountain Programme
Belfast City Council Music Grant
Other
6,809
10,183
19
2,438
154
253
24,329
4,856
(6,405)
(1,320)
119)
(8,000)
1154)
1253)
(58,822)
(4,856)
(24,500)
(4,838)
(43,207}
192)
(2,005)
160,000)
(8,845)
404
8,863
7,390
1,828
49,971
15,478
24,500
3,317
45,609
1,846
325
2,402
370
6,338
462
8,343
60,000
8,845
59,691
199,632
(223,316)
36,007
16 Anaty515 of net assets between funds
Unrestricted Restrlcted
Funds
Funds
2023
2023
Total Unrestricted Restricted
Funds
Funds
2022
2022
Total
2023
2022
Fund balances at 31
March 2023 are
represented by..
Tangible assets
Current assets/(liabilitiesl
Long term liabilitie5
14,418
(66,338)
(42,904)
21,967
14,040
36,385
(52,298)
{42,904)
2,153
(51,4411
{42,9041
32,895
26,796
35,048
(24,645)
(42,904)
(94,824)
36,007
(58,817)
{92,192)
59,691
(32,501)
-33-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
17 Related party transactions
Remuneration of key management personnel
2023
2022
Aggregate compensation
31,193
52,512
The charity was under the control of the board of trustees throughout the year. There are no related
paty transactions to disclose under FRS 102.
None of the Trustees receive any reimbursement of expense, remuneration or other benefit from ther
work with the charity. Any connection between a Trustee or senior manager of the charity with
organisations the charity works with must be disclosed to the full Board of Trustees in the same way as
any other contractual relationship with a related party.
18 Cash generated from operations
2023
2022
Deficit for the year
(26,316)
(28,991)
Adjustments for.
Depreciation and impairment of tangible fixed assets
11,998
10,579
Movements in working capital..
(Increase) in stocks
(Increase)/decrease in debtors
Increase/ldecrease) in creditors
(2,088)
(4,529)
21,829
(8,324)
45,768
(387)
Cash generated from operations
894
18,645
19 Going Concern
These financial statements are prepared on the going concern basis. The trustees have a reasonable
expectation that the charity will continue in operational existence for the foreseeable future, however, the
trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to
continue as a going concern. As at 31 March 2023, the Balance Sheet of The Black Box Trust shows a
position of net current liabilities. Going concern remains a challenge, as well as overcoming the existing
deficit however, having reviewed the business plans and actual activity since the year end, we are content
that these actions will go some way to addressing the ongoing going concern challenge.

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
20 Analysis of changes in net (debt)/fvnds
At 1 Aprll 2022
Cash flows
At 31 March
2023
Cash at bank and in hand
Bank overdrafts
6,382
(2,870)
(12,310)
3,512
(12,310)
6,382
(15,180)
(8,798)
Loans falling due within one year
Loans falling due after more than one year
(13,697)
(42,904)
2,739
(10,958)
(42,904)
(50,219)
(12,441)
(62,660)
-35-