The Burning Bush Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2022. Objectiv¢$ and activities Public benef The trnstees maiTh responsibilitie5 ar¢ to increas¢ knowledg¢ of God's word through the Bible and other resources, mainly in Dungannon and South TJTone are< to offer comfort and support to families and persons in need through sickness, death and other i5su¢s, and to h¢lp support mission5 in Ireland and overseas. The charity raise5 fullds through the sale of books and oth¢r religious resources in their bookshop & holding events Sh as concerts & breakfast mornings. This enables them to increase religious knowledge within the Dungannon and Soutb Tyone Area , to offer ¢omfort to persons in ill health or nearing deati or people with family problems. This also enables theEll to Incre capacity amongst missionaries to see the Christian faith improved, advanced and spr¢ad through th¢ income derived from the sale of these resources being re-dsstributed to the religiou5 organi5ations. The trnstees ¢onfirm thai they have complied the r¢quirements of the Charities Act (Northern Ireland) 2008 to have due regard to the publi¢ benefit guidance published by the Charity Commission for Northern Ireland. Achievements and performance A very tougb 2nd cha]lenging year with ongoing fantIal issues facing 50 many. people still calling into the shop seeking help and adyise with som many issues. As with previou5 years the shop ha5 tried to help local mission and tract produters. Structurey governance alld managernent Finan¢i#l Instruments Objecthies andpolicles The charity's activities expos¢ it to a number tsf financial risks including credit risK cash flow risk and liquidity risk. The use of finallcial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of finallcial derivatives to llwiage th¢5e risks. The charity does not use derivative financial instnllnents for speculative purposes. Ctuhflow risk The chaxity'5 #¢tivities expose it primarily to the f]nancial risks of changes in foreign cuencY exchang¢ rates and interest rates. The charity use5 for¢igll exchang¢ forward ¢ontrdcts and interest rat¢ swap contrdcts to h¢dge these exposures. Inierest be&ing ass¢ts 2nd Siabiliti¢s are held at fix¢d rate to ensure certainty of cash flows. Page 2
The Burning Bush Trn5teest Report (conlinued) Credil rlsk The charity'5 principal finaTLcial assets are bank balances and cash. trade and other receivables, and invesknents. Th¢ chaxity's edit risk is primarily atiributable to its trade receivabl¢s. The arThounts pr¢gented in the balance 5h¢et are net of allowances for doubtfijl rec¢ivables. AD allowance for impaimient Is made where there is an identified loss event which based on previous experience, is evidence of a reduction in the recoverabiltry of the cash flows. The credit risk on liquid funds and derivative financial ]nstrlcnts is limited because the coulltetparties are banks witb high edIt-ratings 215igned by intemational credit-rnting agen¢ies. The charity h&8 no significant concentration of credit risl with exposure spread over a large number of countejyarties and customers. LlqHidity Ttsk In order t(Tr aintain liquidity to ensure that sufficient fimds 8Je available for ongoing operation5 8Dd tUre developments, the charity uses a mixtur¢ of long-teTm and short-tenn debt finance. Further details regarding liquidity risk ¢8n be found in the Statement of accounting poli¢ies in the financial statements. The aDnual repoTt was approv¢d by the tntss of th¢ charity on 14 June 2023 and siglled on its behalf by.. Mrs Ruth N¢ill TTUStee Mr Billie Neill Trustee Page 3