Charity registration number NIC100983
Company registratlon number N1058233 (Northern Ireland)
THE BLACK BOX TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE BLACK BOX TRUST
LEGALAND ADMINISTRATIVE INFORMATION
Directors
Mr P BoitekGill Isecrelaryl
Ms S Dickson Imatemity Leave)
Mr C Ftynn (Treasurer)
Ms SAJones
(Appointed 20 December
20231
Mr N Sinclair (Chair)
Ms M Ramon
(Appointed 20 Decernber
2023)
Ms S Murray
Secretsry
Mr P Boitel-Gill
Charity number
NIC100983
Company number
N1058233
Principal address
18-22 Hill Street
Belfast
BT12LA
Registered office
18-22 Hill Street
Belfast
BT12LA
Auditor
GMCG Lisbum
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
Bankers
Bank of Ireland
P.0. BOx 13
Donegall Place
Belfast
BT1 5BX

THE BLACK BOX TRUST
CONTENTS
Page
Directors, report
Independent audttorf5 report
10-15
Statement of finanaal activitie$
16
Balar¢ce sheet
17
Statement of cash flows
18
Notes to the financial slatemenls
19-33

THE BLACK BOX TRUST
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The directors present their annual ￿pOrt and financial statements for the year ended 31 March 2024.
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 Practi￿ applicable to charities preparing their accounts in
accordance with th& Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"
leffeclive 1 January 2019)-
Chair comments
The Board presents the Trustees RepDrt for the year 2023124. We are reporting on a year that has seen a positive
increase in audience engagement and cuttural connèctivtty for Belfast, despite this the se¢tor as a whole continues
to face challenges. Despite the resilience and creat¢vity demonstrated, funding cuts have continued to place a heavy
strain on our sector. Public funding has not kept pace with inflation, creating an environment where it becomes
increasingty challenging tD maintsin programs and services. This has perpetuated a climate of Un￿rtainty,
particulaty for freelance artists and smaller venues. The cosl-of-jNing crisis has on]y exacerbated this issue,
impacting both audiences and artists alike, making it more expensive on a whole for indNiduals lo parttcipate in the
night time economy.
Moreover. the arts sector in Northern Ireland continues to face significant challenges in building and maintsining a
dNerse, inclusive audience base. Many marginalised groups still fa* barriers to access, whether due to
socioeconomic factors, geographic isolation, or a lack of engagement from mainstream cuttural instttutions.
Overcoming these barriers requires substantial investment and policy review at a departmentsl level relating to
ine]usive practice. As we move forward into 202412025, CDllaboralion across sectors will be critical, alongside a
renewed commitment to investing in the cultural infrastructure that has long been a comerstone of Northem
Ireland's identity.
Despite the challenges faced by the arts sector, The Black Box Trust has underpinned its commitment by being a
key player in inclusive creative and soryal change for Belfast and beyond. The Black Box along with local arttsts and
organisations have demonstrated incredible ¢reativity. resilience and adaptability. The city's festivals and
performances have continued to thrive, with several events su¢¢essfully attracting both lo¢al and intèmational
visitors. Collaborative efftirts betseen arts organisalions and community groups have led to increased participation.
Additionally, initiatives focused on mental health and social Cohesion have 9ained momentum, illustrating how the
arts can serve as a vital tool for community healing and resilience. These posttive outcomes underscore Belfasvs
growing strength as a cu]tural hub, and the key role The Black Box has played in this showcasing the potential for
arts and culture to drive both social and economic regeneration in the city.
Activtties as follows-.
Resignation of Niall Dougherty as AdministralNe Officer
Appointment of Jessie Fletcher as Booking and Communications Officer
Formation of the Business and Commercial DevelDpmenl Sub Committee
Drafling of the 2024-2028 Business development and strategic plan.
Increase in Festival Partnerships
Increase in Organisational Partnerships
Increase in total events held
Funding Received..
The National Lottery People and Communities
Belfast City Council Core Mulli-Annual Grant
Arts Council Northern Ireland Annual Funding PTogramme
Film Hub
Music Venue Trust Pipeline Investment Fund
Arts Council Northem Ireland Health & Safety Capital Grant
Department for Communities AC￿$$ & Inclusion Capital Grant
The National Lottery DomiantAccounts Funds Nl
The continued support from our core fvnders, Belfast City Council. The National Lottery and the Arts Council
Northern Ireland is vital in supporting the work The Black Box produces. The support from funders throughout the
year for project and capital costs has helped us lo ensure we are continuing to build towards a sustainable future.

THE BLACK BOX TRUST
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Public benertt
The diiectors have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Vision
Be a progressive arts space for taking creative risks
Mission
Be the leading, alternative venue for use by festivals, promoters, community groups and individuals in the greatsr
Belfast area for innovative, grassroots, radical and accessible work.
Aims
1. Ensure that the Black Box is an equitably accessible and safe space for all peL)ple through the promotion of
socially inclusive arts engagement
2. To develop and provide programmes for people who idenlfy as disabled andlor neurodiverse to learn new
skills including advocacy and encourage the use of their creative abilities.
3. To provide an affordable venue space in Belfast for the use of fesltvals. promoters, arttsts and event
organisers for the promotion of artistic practice.
4. To provide high-quality risk-taking work, from a variety of genres, for the greater Belfast area and beyond.
5. To en¢ourage and foster the crealivity of new and developing talent.
6. Ensure that the Black Box exists in another 20 years.
Purpose of The Charity and Charity's Objectives
lo provide a cultural space within the Cathedral Quarter in Belfrdst to advan* arts, culture and sciences
and promote the PL¢blic's knowledge, understanding and appreciation of these purposes by providing
facilities, venues, servI￿s, and staff and by developing and establishing programmes for live music.
theatre, literature, comedy, film, visual, abstract. conceptual and performance art amongst olhers.
to advance cthzenship and community development by supporting social and communty infrastructure,
pmmoting social inclusion and volunteering through engagement with arts.
to prornDle the èffectiveness of charities and the effective use of charitable resources by providing office
space for administrative purposes including event organisation and festival launches,
to advan￿ creative education in arts and drama by fostering, irnproving. and encouraging new and
developing artistic talent lo improve inolividual 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 lo engage with persons of 16 yèars or over, older adults andlor adults with leaming
disabilities lo promote social inclusion. leam new skills including advocacy and encourage the use of their
creative abilities.

THE BLACK BOX TRUST
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Artistic and Oryanisational Values:
Through our values we will create a space that celebrates arts and cuiture through visual art, music, theat￿,
sciènce, literature. and everything in between. The unique selling points of the venue are tts pragmatic and
proactive approach. welcoming and safe atmosphere. and alternative programming, and this should be maintained.
Adventurous
Taking creatwe risk
Alternative
Creative
A PlaffoTh for original. unusual, emerging, left-of-eentre work
Working creatively and with creative people
Collaborative Working with other artists, organisalions, sharing our ideas & resources
Accountable
Innovative
Open, answèrable, and responsible practices and processes
Provoking
Inventive, brave, original new ways of working and producing
Stimulate debate
Stimulating
Curious
Generating ideas and responses and inspiring new work
Radical
Asking questions, allowiny audiences to discover and wonder
Welcoming
An imaginative edge of creative change, social change through arts engagement
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 Ihe most LGBTQ+ friendty 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 lo grow without the
support of the venue - the Box is home to many Pride events and LGB TQ+ film screenings, talks and workshops.
What makes The Black Box unique 1$ its core ethos of supporting equitable access, and social indusion for
participants, audiences, and the creative community of the cty- The venue is 8 hot bed of innovative arts and
cultural practice, much of this coming from those who are marginalized, underrepresented and under-resour¢ed in
wider arts provision and cultural development.
Within the 2023124 Financial Year, The Black Box hosted, produced and programrned 717 events, involving
approximateiy 2147 artists and welcoming an audience of 55,187 people from Belfast, wider Northern Ireland, the
Republic of Ireland and the UK, as well as intemational audienTrs. While aucliences are still lower than pre COVID-
19 levels, this number has incTeased year on year.

THE BLACK BOX TRUST
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Main Activities:
Our main activities and programme are fulty aligned lo our StrategicAim5 2019-2024 as follows..
Creative Social Change.. using creativity lo support social inclusion. integration and equalty and
empower people, especialty underrepresented groups by developing skills and social experiences
Creative Space.. creating shared spa￿S and opportunities for artist. producers and performers lo
experiment, test ideas. be innovative and build audiences,
Creative Innovation & Partnership.. being champions for partnership working, shared leaming, and
connecting others. We have an open and welcoming approach and invest in developing relationships to
support others to fijifil their potential and contribute to the critical mass of artistic endeavour and
performance in Belfast.
Creative Destination.. bèing an Ou￿ard looking and progressive organisalion ancl believing in the
beneffls of connecting with and sharing knowledge with international communities.
Central to the cultural significance of the Black Box is our commitment lo communty and partnership working. and
building on this commitment in a strategic manner is key to building lo a place of financial stability following a few
years of multi-faceted challenge5. both internal and external.
This is achieved through:
2023124 Core Partnershi
Belfast City Council. The National Lottery, Arts Council of Northern Ireland, Film Hub. Arts & Business Nl,
Department for Communities.
Festival Partnershi
The Black Box has been known lo audiences as home to 27 key festivals annualty (including Cathedral Quarter Arts
Festival, Belfast Film Festival, Outburst Queèr Arts Festival. Out to Lunch and Nl Science Festival as being most
notablel- the venue's rnost 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.

THE BLACK BOX TRUST
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Our 2023124 Festival Partners
Out To Lunch Festival, Independent Venue Week. Ml Science Festival. XR Festival, Brilliant Corners Feslival of
Jazz, St. Patricks Day. Imagine Festival of Ideas & Politics, Sonorities Festival, Cathedral Quarter Arts Festival, Hit
the North, Nl Mental Health Arts Festival, OUTPUT, Belfast Cty Blues Festival, Leaming Disability Pride Festival.
Stendhal Festival, AVA, Belfast Trad Festival, Belfast PRIDE, Film Devour Short Film Festival, Cinemagic, Bounce
Disability Arts Festival. Belfast International Arts FestNal. Docs Ireland, Belfast Film Festival, Oulbursl Queer Arts
Festival. Sounds of Bèlfast.
Programming Partnerships
Working wilh promoters and partner programmers, wè are able to continue to deliver high qualty 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 2023124 Pro
ramrnin
Partnershi
Strange Victory, Sound Culture, Music Capital, Ghouls on Film. Seedhead Arts, Moving On Music. Cathedral
QuarteT Arts Festival, Shine, Tenx9, CQ BID, Nl Science Festival, Zeppo Arts, The Thin Air.
Black Box Programme & Prornotions
Through inthouse programming, the Black Box hosts a year-round sèlection of gigs. workshops. DJ nights, talks,
debates, lectures, and open forums that promote active citizenship, support engagement, provide an outlet to
engage wtth challenging new work, and remind people that at our core we want everyone to have a good time.
Black Box Projects & Outreach
The Black Box Projects are visible, through bringing our eornmunity of Adults with Learning Disabiliknes lo the heart
of the Cty Centre. We offer a shared space and reduce stigma, through ensuring all of our events are equitably
accessible, 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 2023124 Pro'ects & Outreach Partnershi
Belfast City Council, Gig Buddies, Attitude is Everything. Leaming Disability Pride, Mencap, Now Group, Nerve
Centre, Tuned-ln Project, Orchardville. UnNersity of Ulster. University of Atypical, Nl Science Festival. Beal
Carnival, Creative Lives. Moving on Musio L'Arche, Faile an Phobal, Fonacab.
Hire Offer
An affordable and accessible venue to hire for hundreds of independent promoters, producers. artists, perfomiers.
SME'S. community groups and Charities every year.
Milestones & Achievements:
Carrying out a full strategic anatysis and slrategic planning process for 2024- 2028
Formation of the Business Development Subcommittee
Recruitment of New Projects & Outreach Officer
Recruitment of Nèw Gig Buddies Coordinator
Recruitment of New Bookings & Communications Officer
64 Million Artists Creative Champion Award
Key Priorities for 2024125
We wll:
Make our ¢onlribulion to 2024 grassroots by nature, be for and by our audiences. participants, and
community.
2. Ensure we remain an equitably accessible venue both physically, socially, and economicalty.
3. Strengthen our organisation through diversifying fvnding and building reserves.
4. Invest in The Black Box Team in order lo reach their fvll potential.

THE BLACK BOX TRUST
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Flnancial review
Al 31 March 2024 the balance of unrestrTCted reseTves was a deficit of £27.62612023 - £94,824). Restrtcted fvnds
are restricted for the purpose specified in lettèrs of offer provided by the funding bodies. Al 31 March 2024 the
balance of restricted funds totsled £16.96412023- £36.0071.
Going concem
The charity has seen a significant improvement towards building the unrestricted surplus at the year end. Despite
challenges associated with increased cost of living and continued staffing changes, the Director has worked
closety wth finance staff, the Board, Financial Subcommittee and Business Development S￿￿0Mmittee lo
continue to improve our financial systems and position.
The chaTty has developed more robust cashflow management systems an(J implemented a more realistic and
achievable reserves policy through increased funding received in 202312024 versus 202212023 and is committed
to conlinualty improving the financial position of the charity-
Steps lo reduce deficit-
Continued outsourcing of financial management role to Christine Whiteman.
Manage strategic funding targets with core funders ACNI AFP & Belfast Cty Council CMAG programme
and build on partnership with The National Lottery.
Continue to review and to identify areas where spend can be reducèd
Review contracts with 3rd party service providers to see if better rates can be achieved.
Deliver fundraising efforts through membership schemes, donations, fundraising events, and online
rowd-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 ￿Ver accountable reporting and review arrangements.
Review organisation expenditure formaliy on a monthty basis.
Review board as outlined above to identfy skills & experience gaps aligned to slrategic priority areas.
Res&Nes policy
After making enquiries, the difectors have a reasonable expectation that the charity has adequate resources to
ontinue operational existence for the foreseeable future. Accordingty they continue to adopt the going concern
basis in prepar¢ng the financial statements.
Structure, governance and management
The Charty is a company limited by guarantee governed by its Memorandum and Articles of A550cialion.
The directors who served during the year and up to the date of signature of the financial statements were=
Mr P Boitel-Gill (Secretary)
Ms S Dickson (Maternity Leave)
Mr C Flynn (Treasurer)
Ms S A Jones
Ms R Mccarthy
Mr N Sinclair (Chairl
Ms M Ramon
Ms S Murray
Mr B Slratford
Mr P Watson
(Appointed 20 December 2023)
(Resigned 20 December 2023)
(Appointecl 20 December 2D231
(Resigned 20 December 2023)
(Resigned 20 December 2023)

THE BLACK BOX TRUST
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Trustees interested in joining the Board must eornplete an application and interview. Applicaligns are reviewed by
the Board and on approval, new trustees go through an induction, and probationary period lof 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 thè
last three Committee meetings, a copy of the Black Box Truste& 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 Goveman¢e Group and with ongoing support from
Arts & Business.
Organisalional stwctu
Kathryn Mcshane
Neil Jacques
Niall Doughety
Jessie Flelcher
Deirdre McKenna
Isabella Koban
Aislinn Kelly
Isabella Koban
Darren McGuigan
Director Ilncoming November 2022) IFT)
Operations Manager IFT)
Admin & Comms Officer132hr perlw contract) (Outgoing October 20231
Bookings & Comms OfficeT132hr perlw contract) Ilncoming November 2023)
Projects & Outreach Officer Ilncoming May 2023} IFn
Gig Buddies Project Coordinator (Outgoing June 20231 {24hr perlwl
Gig Buddies Project Coordinator Ilncoming July 2023)124hr perhMI
Exhibitions Coordinator110hr perlwl
Venue Manager (Fr)
Other staff inclLtdes',
Two Duty Managers IPT)
Up lo fifteen venue staff (PT. casual hours)
Door supervisors IPT, casual)
The Black Box team are highty experienced and motwated and hold a wide and varied range of skills be￿een them.
Skills held include:
Excellent customer care
FirstAid
Health & Safety
Flre Safety
Child Protedion and Adults at Risk Safeguarding
Technical expertise
FotW8rd thinking
Self-motivaled
Management skills- events. budgets. people, time
Marketing and PR
Finance and Accountancy
Creativity and Imagination
Years of programming expertise

THE BLACK BOX TRUST
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Culture ofthe Or9anlsation:
We are an equitably accessible, safe, forward thinking and most importantty, unique space. We encourage everyone
to be Ihemsetves and break down barriers associated with participating in arts and cultural activty.
Communication
Good team communication is key and we ensure the team is aware of the value they add to the organizalion.
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 lo give opportunty to reflect and set annual goals.
Give them a real voi¢e in the Black Box's future
Advice will be taken from employees via the staff feedback box.
Encourage employees to be innovative
Give people space lo think, try out ideas, visit other venues and businesses to gel inspired.
Put sy$tems 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 forn)al and real time
Establish ongoing evaluative processès so people can get fèedback on how well they're meeting their goals both in
real time and at scheduled assessment times.
Remuneration policy
Salaries for the organisation are set and reviewed in line with Governmenl legislation by the Director and approved
by the Board of Trustees. Staff are reviewed continuously by line management with formal annual appraisals, staff
are paid weekly or monlhty depending on job roles and in line with intemal financial policy and procedures. Salaries
for senior staff and management are detemined and reviewed by the Board of Trustees.
Statement of directors, responsibilities
The directors, who also act as trustees for the charitable activities of The Black Box Trust. are responsible for
preparing the Directors. 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 directors lo prepare financial statements for each financial year which give a true and
fair view of the state of affair5 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 directors are required to:
- select suitable accounting policies and then appty them consistentty-.
obs2rve the methods and principles in the Charities SORP (FRS 1021-,
make judgements and estimates that are reasonable and prudent., and
prepare the financial ststements on the going con￿rn basis unless it is inappropriate to presume that the charity
will continue in operation.
The directors are responsible for keeping adequate accounting records that disclgse with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements compfy with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charty and hen￿ for taking
reasonable steps for the prevention and detection of fraud and olher irregularilie5.
Auditor
GMCG Lisbum were appointed as auditor to the company and a resolution proposing that they be re-appointed will
be pul at a General Meeting.

THE BLACK BOX TRUST
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Disclosure of information to audrtor
Each of the directors has confimed that there is no information of which they are aware which is relevant to the
audtt, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the audilor is aware of such information.
The directors, report was approved by the Board of Directors.
Norman Sincl.
Mr N Sinclair (Chair)
Director
Date..

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS 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 2024
which comprise the ststement of financial activities, the balance sheet, the statement of cash ffows and notes lo the
financial slatements. including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applioable in the UK and Republic of Ireland {United
Kingdom Generaliy Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the stale of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources. including its income and expenditure. for the year then
ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance wtth Intèmational Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audilorts responsibilities for the audit of
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audTt of the financial slalements in the UK, including Ihe FRC'S Ethical
Standard. and we have fijlfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we hav& obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We draw attention to note 1.2 in the financial ststements, which indicates that the balance sheet of the charity
shows a position of net current liabilities, which indicates that a material uncertainty exists that may cast signfficanl
doubt on the Charity'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 directors, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors, assessment
of the char￿$ abilty to continue lo adopt the going cgncem basis of accounting induded the review of positive post
year end funding position and results.
Our responsibilities anrl the responsibilities of the directors with respect lo going concern are des¢ribed in the
relevant sections of this report.
10-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BLACK BOX TRUST
Other infomiation
The other information comprises the infomation included in the annual report other than the financial ststements
and our auditorfs report thereon. The directors are responsible for the other information contained within the annual
report. Our opinion on the financial ststements does not cover the other information and, except to the extent
othèrwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is lo read the other infomation and, in doing so, Consider whether the other information is malerially
inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears
to be materialty misstated. If we idenlfy 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 infonmation,
we are required to report that fact.
We have nothing lo report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of our audit..
the information given in the directors. report for the financial year for which the financial slalements are
prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the
financial statements.. and
the directDrs' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knovAedge and understanding of the charity and its environment oblained in the course of the
aud¢t, we have not identified material misstalements in the directors, report included wtthin the directors. report.
We have nothing to report in respect of the following matter5 in relation to which the Companie5 Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not been received
from branches not visited by us. or
the financial statements are not in agreernènt with the accounting records and retums- or
certain disclosures of trustees, remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the directors were not entiued to prepare the financial statements in a¢¢ordance with the Small companies
regime and take advantage of the small companies, exemptions in preparing the directors, report and from the
requirement to prepare a strategic reporL
11

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BLACK BOX TRUST
Responsibilities of directors
As explained more ful￿ in the Statement of directors. responsibilities. the directors are responsible for the
preparation of the financial ststements and for bèing satisfied that they give a true and fair view, and for such
internal control as the directors dètermine is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors
are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicabte, matters
related to going concern and using the going concern basis of accounting unless the direolors either intend to
liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so.
Audltor's ￿SPOnsIbl11t[es for the audit of the finan¢ial statements
Our objectives are to obtain reasonable assurance about whether the financial slalements as a whole are free from
material misstatement, whether due lo fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assuran￿ bLrt is not a guarantee that an audit conducted in accordance
with ISAS (UK) will a￿ayS 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 reasonabty be expected to influence
the economic decisions of Users taken on the basis of these financial statsments.
The extent to which our procedu￿$ are capable of detecting irregularities. induding fraud, is detailed below.
12-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BLACK BOX TRUST
Extent to which the audtt was considered Capable of detscting irregularttles, including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error.
and then design and perform audit procedures responsive to those risks, including obtsining audit evidence that is
sufficient and appropriate to prc)vide a basis for our opinion.
In identifying and assessing potential risks of material misstatement in respect of irregulaTities, including fraud and
non-compliances with laws and regulations, we conside￿d the following-
The nature of the industry and sector, control environrDenl and business performance. including the
charitable company's remuneration policies for directors, bonus levels and performance targets. if any-,
Results of our enquiries of management about their own identification and assessment of the risks of
irregularities.,
Any matters we identified having obtained and reviewed the charitable company's documentation of their
policies and procedures relating to=
Identfying, evaluating and complying with laws and regulations and whether they were aware of
any instance of non-compliance:
Detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud,. and
The intemal controls established to mitigate risks of fraud or non-compliance with laws and
regulations.,
The matters discussed among the audit engagemenl team regarding how and wheTr fraud might occur in
the financial statements and potential indicators of fraud.
As a resutt of these procedures, we ￿nsidered the opportunities and incentives that may exist Wtthin the charitable
company for fraud and idenlified the greatest potential for fraud in revenue recognition
In common with all audits
under ISAS IUKI, we are also required to perfom specific procedures to respond to the risk of management
override.
We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statèmèftts. The key laws and regulations we ¢onsidered in this context
included the Companies Act 2006, and local tax legislation.
In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements bul compliance with which may be fundamental to the charitsble company's ability to operate or to avoid
a material penalty.
13-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE BLACK BOX TRUST
Audit response to risks identified
Our procedures lo respond to the risks identified induded the following..
Reviewing the financial statement disclosures and testing to supporttng documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the
financial ststements..
Enquiring of management conceming actual and potential litigation and claims-
Performing analytical procedures to identity any unusual or unexpected retationships that may indicate
risks of material misstatement due to fraud.,
Reading minutes of meetinys of Ihose charged with governanTr and reviewing Corresponden￿ with tax
aulhorilies., and
In addressing the risk of fraud through management override of controls, lesting the appropriateness of
journal entries and other adjustments.. assessing whether the judgements made in making accounting
estimates are indicative of a potential bias,. and evaluating thè business rationale of any significant
transactions that are unusual or outside the normal course of business.
We also communicated relevant identffied laws and regulations and potential fraud risks to all engagement team
members and remained alert to any indicalions of fraud or non-compliance with laws and regulations throughout the
audit.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our audit
in accordan￿ with auditing standards. In addition, as wilh any audit, there remains a higher risk of non-delection of
irregularilies, as they may involve collusion, forgery, intention81 Dmissions. misrepresentstions, or the override of
internal controls. We are not responsible for preventin9 nonw¢ompliance and cannot be expected to detect non-
complianTr with all laws and regulations.
A further description of our responsibilities is available on the Financi81 Reportin9 Council's website at.. http5'.11
w.frc.org.uklaudilorsresponsibilities. This description fom15 part of our auditorfs report.
14-

THE BLACK BOX TRUST
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF THE BLACK BOX TRUST
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's
members those matter5 we are required to state to them in an auditor's report and for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charitable
company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we
have formed.
Mr Stephen Houston FCA (Senior StatutoryAuditor)
for and on behalf of GMCG Lisburn
Chartered Accountsnts
Statutory Auditor
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
15

THE BLACK BOX TRUST
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income and endowrnents from:
Donations and legacies
Charitable aclivilies
other income
1,503
543,788
6,681
1,503
781,686
6,681
1,087
444,073
8,649
60,000
139,632
61,087
583.705
8,649
237,898
Total income
551,972
237,898
789,870
453,809
199,632
653,441
Expendlture on:
Charitable activities
524,691
217.024
741.715
456,441
223,316
679.757
Totsl expenditure
524,691
217,024
741,715
456,441
223,316
679,757
Net incomellexpenditurel
27.281
20,874
48,155
(2,6321
123,6841
126,3161
Transfers be￿een
funds
12
39,917
139,917)
Net movement in
funds
67,198
(19,0431
48,155
(2,6321
(23.6841
{26.316}
Reconciliation of funds:
Fund balan￿$ at 1 April 2023
(94,824)
36,007
158.8171
(92,192)
59,691
132.501)
Fund balances at 31 March
2024
{27,6261
16,964
110,6621
{94.824)
36,007
158,81n
The statement of financial activities includes all gain5 and losses recognised in the year. All income and expenditure
derive from continuing actwities.
16-

THE BLACK BOX TRUST
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
13
61,124
36.384
Current assets
Stocks
Debtors
Cash at bank and in hand
14
15
11,058
31,939
8,236
13,470
23,7D5
3,512
51,233
40,687
Creditor5: amounts falling due within
one year
16
{81,0321
{86,384)
Net current liabilities
129,7991
(45,6971
Total assets less current liabilities
31.325
19,313)
Creditors: amounts falling due after
more than one year
17
141,987)
149,504)
Net assetsl{liabilitiesl
110,6621
(58.8171
The funds of the charity
Restricted income funols
Unrestricted fLtnds
20
16.964
127.626)
36.007
194.824)
110,662}
{58,8171
These financial statements have been prepared in accordance with the provisions appli(xble to companies subject
to the small companies regime.
The financial statements were approved by the directors on ..1 O
and signed on their behalf by
Norman Sincl;
Mr N Sinclair (Chairl
Director
Company registration number N1058233 (Northern Ireland)
17-

THE BLACK BOX TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating a￿1VItieS
Cash generated from operations
25
55,123
893
Investing activities
Purchase of tsngible fixed assets
143,6691
(13,335)
Net ush used in investing activities
143,669}
{13,3351
Financing activities
Repayment of bank loans
15,875)
{2,738)
Net cash used in financing activities
(5,8751
12,7381
Net increasellde¢rease} in cash and cash
equivalents
5,579
115,1801
Cash and cash equivalents at beginning of year
(8,7981
6.382
Cash and cash equivalents at end of year
13,2191
18,798)
Relating to:
Cash al bank and in hand
Bank overdrafts included in creditors payable
within one year
8,236
3,512
111,4551
112,3101
18-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity inforniation
The Black Box Trust is a private company limited by guarantee incorporated in Northem Ireland. The
registered office is 18-22 Hill Street. Belfast, B T12LA.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charivs memorandum and Articles of
Association. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities= Statement
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 102)" (effective 1 January 20191. The
charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling. which is the functional c￿￿enCY of the charty. Monetary
amounts in these financial statements are rounded to the neare51 £.
The financial ststements have been PrePa￿d under the histL)rical cost convention. The principal accountin9
policies adopted are set out below.
1.2 Golng concern
The Board has continued to implement steps to ensure improvements in the systems and strudures within the
charity to ensure that costs are controlled, new fund-raising opportuntties are explored and income generation
can be grown where possible.
The Charity meets its day lo day working capital requirements through the facility provided by the charity's
bank. with existing facilities being recently renewed with the bank.. The directors have considered future
financial projections and future cash flow requirements and are confident that the charity will continue
operations for the foreseeable future. On this basis, the directors consider it appropriate to prepare the
financial ststements on the going concern basis.
1.3 Charitable funds
Unrestricted fvnds are available for use at the discretion of the directors in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial ststements.
1.4 Income
Inwme is recognised when the charity is legalty entitled to it after any perfomiance conditions have been met,
the amounts can be measured reliably, and il is probable Ihat income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations recesved under GiftAid or deeds of covenant is recognised at the time of the donation.
The charity receNes grants in respect of the provision of specified services, projects and activities. Income
from govemment and other grants are recognised at fair value when the charity has entttlement after any
performan¢e conditions have been met. it is probable that Ihe income will be received and the amount can be
measured reliabty. If entitlement is not met then these amounts are deferred.
Interest on fvrsds held on deposti is included when receivable and the amount can be measured reliabty by the
charity. this is nomialty upon notification of the interest paid or payable by the bank.
19-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Atcountiny policies (Continued)
1.5 Expenditure
All expenditure is a¢counted for on an accruals basis and has been classffied under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments to third parties, it is probable that the settlemenl will be required and the amount of the
obligation can be measured reliabty. It is categDrised under one of the following headings: Costs of raising
funds, Expendtture on charitable activities and Other expenditure.
Irrecoverable VAT is charged as an expense against the activity fDr which expendf(ure arose.
Support costs are those that assist the work of the chaFty but do not directly represent charitsble activities
and include office costs. governance costs, depreciation costs and administratwe payroll costs. They are
incurred dire¢ty in support of expenditure on the objects of the charity and include project management
carried out at the office. Office costs, depreciation costs, governance costs and payroll costs are allocated to
charitable activities based on useage. The allocation of the support costs is anatysed in note 6.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at ￿$t or valuation, net of
depreciation and any impaimient losses.
Depreciation is recognised so as to write off the cost or valuation of asset5 les5 their residual values over their
usefijl lives on the following bases..
Leasehold improvement5
Plant and machinery
Fixtures and rrttings
Computers
10 /D Straight Line
20ts/0 Straight Line
200/0 Straight Line
200/0 Straight Line
The gain or loss arising on the disposal of an asset is detemined as the drfference bètween the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impaimient of fixed assets
At each reporting end date, the charity reviews the carrying amounts of ils 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 lif any).
1.8 stocks
stocks are staled 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 rèplacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of compEetion and costs to be
incurred in mart(eting. selling and distribution.
1.9 Cash and cash equivalen15
Cash and cash equivalents include cash in hand, deposits held at C311 with banks, other short-temi liquid
investments with original maturities of three months or less, and bank overdrdfis. Bank overdrafts are shown
within borrowings in current liabilities.
-20-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (Continued)
1.10 Financial instruments
The charity has elècled to apply the provisions of Sertion 11 '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 chartty's balance sheet when the chatity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabifities are offset, with the nel amounts presented in the financial statements, when
there is a legally enfor￿able right to sel 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.
BasiTC r
InanciTal assets
Basic financial ass&ls, which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequenty carried at amortised cost using the effectwe
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the future receipts discounted at a market rate of interest. Financial assets
ciassified as receivable within orie year aTr not amortised.
Basic financial liabiTlities
Basic financial liabilities, including creditors and bank loans are initialty recognised al transaction price unless
the arrangemenl constitutes a financirsg transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financtal li8bilities classtfied as payable
within one year are not amortised.
Debt instruments are subsequentty carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary coursè 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 subsequentty measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities a￿ derecognised when the charivs contractual obligations expiTr 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 services are
received.
Termination beneffts are recogni5ed immediately as an expense when the charty is demonstrabty committed
to terminate the employmenl L)f an employee or to provide termination benefrts.
1.12 Rptirement benefrts
Payments lo defined contribution retirement benefrt schemes are charged as an expense as they fall due.
-21

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estimates and Judgements
In the application of the charity's accounling policies, the directors are required lo make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other Sour￿$. The estimates and associated assumptions are based on historical experience and other
factors that are considered lo be relevant. Actual results May differ from these estimates.
The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting
Èstimates 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 fvture pertods where the revision affects both current and future
periods.
Key sources of estimation uncèrtainty
Fixed assets
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset
and estimates of residual values. The trustees regularly review these assets lives and change them as
necessary to reflect current thinking on remaining INes in light of prospective economic utiltsation and physical
condition of the assets concemed. Changes in assets lives can have a significant impact on depreciation
charges for the period. Detail of the useful lives is included in the accounting policies.
Restrictsd and unrestricted funds
Judgements are madè in relation to allocation of income and expenditure lo restricted and unrestrictèd funds.
The trustees consider it appropriate lo allocate these funds based on interpretation of donations received.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Rèstricted
funds
funds
2023
2023
Total
2024
2023
Donation5 and gifts
1,503
1,503
1,D87
60,000
61,087
Donations and gifts
Donations
Belfast city council
1.503
1,503
1,087
1,087
60.000
60,000
1,503
1,503
1,087
60.000
61.087

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from charitable activitles
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Event income
Performance related
grants
543,788
543,788
444,073
444.073
237,898
237,898
139.632
139.632
543,788
237,898
781,686
444.073
139,632
583,705
Performance related grants analysis
2024
2023
ACNI- Hearth & Safety
ACNI-AFP
Belfast City Council- CMAG
Belfast City Council- Gig Buddies
BSA
Department for commun(ties-
DFC - Access & lftclusion
NL Community Funds- Domantfunds account Nl
Midlands- Film hub
Music Venture
NL Community fund- People and Communities
QUB- Film hub
8,899
25,112
60,000
40,500
7,390
24,500
45.609
500
1,299
24,500
14,491
49.971
4.145
4.200
4,951
54,840
3,306
3,317
237,898
139,632
Other income
Unrestrictsd Unrestricted
funds
funds
2024
2023
Other income
6.681
8,649
-23-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on charitable activities
2024
2023
Staff CDSts
Direct Costs
Opening stock
Closing stock
Artistic costs
Perft)rmance fees
Production costs
Door security
Training
ITIWebsite costs
137,997
172.292
13.470
111,058}
50,427
5,200
14.804
17,644
1,714
3,269
116,063
153.523
11,382
113,470)
48,831
4.850
13,596
14,145
2,785
3.279
405,759
354,984
Share of support and governance costs (see note 7)
Support
Governance
319.793
16,163
299,464
25,309
741,715
679.757
Analysis by fund
Unrestricted funds
Restricted funds
524.691
217,024
456,441
223,316
741,715
679,757
-24-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs allo¢ated to activities
Totsl
2024
Total
2023
Staff costs
Depreciation
Rent
Premises expenses
Memberships
Finan¢e charges
Insurance
Travel & subsistence
Office expenses
Repairs & maintenance
Advertising
General expenses
Governance
136,606
18,929
83,974
23,797
118,104
11,998
82.428
27,521
li
4,728
10,924
5,029
3,349
627
18,428
5,839
7,563
16,163
5,299
10,729
4,629
2.161
359
12,711
20.012
3,513
25,309
335,956
324.773
2024
2023
Governance costs comprise:
AudTt & accountancy fees
Legal and profession81
3,563
12,600
3,063
22,246
16,163
25,309
Net movement in funds
2024
2023
The net movemenl in fvnds is Stated after chargingllcrediting)..
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
3,000
18,929
3.500
11,998
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
-25-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Employees
The average monthly number of employees during the year was-
2024
Number
2023
Number
19
28
Employment costs
2024
2023
Wages and salaries
Social security costs
Othèr pension costs
260,542
10,518
3,543
221.994
9,303
2,870
274,603
234,167
There were no employees whose annual remuneration was more than £60.000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows..
2024
2023
Agg￿gate compensation
87,897
31.193
The Key management personnel are considered lo be the Director. Operations manager and Venue manager.
11 Taxation
The charty is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Transfers
At the year end the directors took the decision to Feclassify funds in relation to the fLxed assets from restricted
funds to unrestricted funds due to the fact that all letter of offer conditions had been satisfied.
-26-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Tangible fixed assets
Leasehold
Improvements
Plant and Fixtures and
machlnery
rittings
Computers
TotaI
Cost
Al 1 April 2023
Additions
Disposals
222,664
27,140
91,697
11,839
131,1061
34.776
22,117
4,690
{1,478)
371,254
43.669
136.793)
14,209}
At 31 March 2024
249,804
72.430
30,567
25,329
378,130
DepreciatSon and irnpalnnent
Al 1 April 2023
Depreciation charged in the year
Eliminated in respect of disposals
222,664
1.312
62,907
10,610
131,1061
29,883
4,893
14,2091
19,416
2,114
{1,4781
334,870
18,929
136.793)
At 31 March 2024
223,976
42.411
30,567
20,052
317,006
Carrying amount
At31 March 2024
25,828
30,019
5,277
61,124
At 31 March 2023
28,790
4,893
2,701
36,384
14 Stocks
2024
2023
Finished goods and goods for resale
11,058
13,470
15 Debtors
2024
2023
Amounts falling due wrthin one year:
Trade debtors
Other debtors
Prepayments and accrued income
10.897
6,087
14,955
13,366
3,595
6.744
31,939
23,705
-27-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Creditors: amounts falling due within one year
2024
2023
Notes
Bank loans and overdrafts
Other taxation and social security
Trade creditors
other creditors
Accruals and deferred income
18
17,455
10,130
42,672
4,798
5,977
16,668
13,587
49,529
6.600
81,032
86,384
17 Creditors: amounts falling due after more than one year
2024
2023
Notes
Bank loans
Other borrowings
18
35,387
6.600
42.904
6.600
41,987
49,5C)4
18 Loans and overdrafts
2024
2023
Bank overdrafts
Bank loans
Other loans
11,455
41,387
6,600
12,310
47,262
6,600
59,442
66,172
Payable within one year
Payable after one year
17,455
41,987
16,668
49,504
19 Re￿rement benefit schemes
2024
2023
Defined contribution schemes
Charge to profrt or loss in respect of defined contribution schemes
3,543
2,870
The charity operates a defined contribution pension scheme for all qualfying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
-28-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on tTUSt
subject to specific conditions by donors as to how they may be used.
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
ACNI- Heatth & Safrty
ACNI-AFP
ACNI - Small Capital
Belfast City Council- CMAG
Belfast City Council - Gig
Buddies
Capital
CFNI- New needs
Department for Communities
DFC-Access & Inclusion
HSBC
Music Venture
NL Community Funds-
Dom)anl funds account Nl
NL Community funds- People
and Communities
Paul Hamlyn
QUB - Film Hub Funding
hitemounlain Programme
1.828
8,899
25,112
{2,2911
125,1121
(1,3201
160,0001
{8.436)
8,863
{7.5431
60,000
2.402
404
40.500
134,4501
16,227)
11781
12601
(2,4581
14981
16871
8.452
5,823
178
(1,D39)
122,042)
498
(2.745)
1,299
24,500
4.951
1.519
15.477
14,491
129,9681
54.840
147,847)
193)
(3,631)
{2,D041
6,993
37D
325
6,338
(27n
3,306
14,334)
36,007
237,898
1217,0241
139,91n
16,964
-29-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Restricted funds (Continued)
Previous year".
At 1 April
2022
Incoming
resources
Resources
expended
Transfers At 31 March
2023
ACNI-AFP
ACNI- Health & Safety
ACNI - Small Capttal
ACNI - Resilience
Belfast City Council- CMAG
Capital
Community Leaders BSA
NL Community Funds-
Dormant funds account Nl
Belfast City Council- Gig
Buddies
HSBC
Nationwide Communty Fund
Grant
Paul Hamtyn
QUB Film Hub Funding
Miiternountain Programme
Other
24,50D
7.390
(24,5001
18,000)
11.3201
119)
160,0001
16,4051
11541
2.438
10,183
1,828
8.863
60,000
6,809
154
404
24.328
49,971
158,8221
15,477
45,609
143,207)
1253)
2,402
253
4,856
462
1,846
8.343
{4,8561
1921
{4,8381
12,0051
18,8451
370
325
6,338
3.317
8,845
59,691
199.632
1223,3161
36.007
-30-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Restricted funds (Continued)
ACNI- Health and Safety
This fund relates lo a grant received in order to purchase health and safety equipment for the venue.
ACNI- AFP
This fund relates to 8 grant re￿iVed in relation to njnning costs for the charity.
ACNI - Resilience
This fund relates to a grant received in relation to running costs for the chartty.
ACNI - Small Capital
This fund relates to a grant re￿iVed in order lo purchase small capital items.
Belfast City Council- CMAG
This fvnds relates to a grant received in order lo cover running costs of the charity.
Belfast City Council- Gig Buddies
This fund relates lo a grant received in order to cover costs in relation lo gig buddy project.
Capital
This fund relates to a grant received in order to purchase capital item5.
CFNI - New needs
This fund relates to a grant re￿iVed in order to purchase capital items.
Department for communities
This fund relates to a grant re￿iVed in order to purchase capital items.
DFC Access & Inclusion
This fvnd relates to a grant re￿iVed in order to purchase capital item5.
HSBC
This fund relates to a grant received in order to pur¢ha5e capital items.
Music Venture
This fund relates to a grant re¢eived in order to purchase capital items.
Nationwide Community Fund Grant
This funds relates to a grant received in order to cover running costs of the charity.
NL Community Funds- Domant funds account Nl
This funds Telales to a yrant received in order to cover running costs of the chartty.
NL Comrnunity funds - People and communities
This funds retates lo a grant received in order to cover running costs of the charity.
Paul Hamtyn
This fund relates to a gr8nt re￿Ned in order to purchase capital items.
QUB- Film hub
This funds relates to a grant received in order to cover running costs of the charity.
Whitemountain Programme
This fund relates to a grant re￿￿￿ed in order to purchase capital items.
31

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 Unrestricted funds
The unreslricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These in¢lude
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
General funds
194,824)
551.972
1524,6911
39,917
127.626)
Previous year:
At 1 April
2022
Incoming
resources
Resources
expended
Transfers At 31 March
2023
General fvnd5
192,192}
453.809
1456,4411
194,824)
22 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 Mareh 2024:
Tangible assels
Current asselsllliabililies)
Long term liabilities
61,124
146,7631
141.9871
61,124
129,799)
141.987)
16,964
127,8261
16,964
110,662)
Unrestri¢ted
nd$
2023
Restricted
funds
2023
Total
2023
At 31 March 2023:
Tangible assets
Current assetsllliabilitiesl
Long term liabilities
14,417
159,7371
149,5041
21,967
14,040
36,384
145,6971
(49,5041
194,8241
36,007
158,81n
-32-

THE BLACK BOX TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
23 Operating lease commitments
Lessee
At the reporting end date the charity had outstanding commitments for fLrture minimum lease payments under
nOn￿nCer[able operating leases, which fall due as follows-
2024
2023
Within one year
Betsveen ￿0 and five years
73.442
374,208
70,000
355,833
447,650
425,833
24 Related party transactions
There were no disclosable related party transactions during the year12023 - none).
25 Cash generated from operations
2024
2023
Surpluslldefictt) for the year
48,155
126,3161
Adjustments for:
Depreciation and impairment of tangible fixed assets
18,929
11,998
Movements in working capital..
Decreasellincreasel in stocks
Iln¢reasel in debtors
IDecrea5ellincrease in creditors
2,412
18,234)
16,139)
{2.088}
{4.530}
21.829
Cash generated from operations
55,123
893
26 Analysis of changes in net (dèbtllfunds
At l Aprll 2023
Cash flowsAt 31 March 2024
Cash al bank and in hand
Bank overdrafts
3,512
(12,3101
4,724
855
8,236
111,455)
18,798)
5,579
{3,219}
Loans falling due wÉthin one year
Loans falling due after more than one year
14,358)
149,504)
11,642)
7.517
16.0001
(41,9871
162,6601
11,454
151,2D61
-33-

Signature:
Email: norman.dm.5inclair@gmail.com