Tb¢ Burning Bush Trustees, Report The trustees present the annual report together with the finan¢ial statements of tbe charity for the Ye ended 31 August 2023. Obj¢ctive5 and activitRes Pthblle benef The Ist¢es main responsibilities 4r¢ to inease knowledge of God'5 word through the Bible and other resources, mainly in Dgannon and South TOne are4 to offer conthrt and support to familie5 and persoDS in need through sickn¢ss, death and other issues, and to help support tnissions in Ireland 8nd overse&8. The chaxity raises fijnds through the sale of book5 and other religious re50ur¢es in their bookshop & holding events such as concerts & breakf&%t morning5. This enables them to increase religiou5 knowl¢dg¢ within tbe Dungannon and South Twne Area , to offer comfort to persons ill ill bealth or nearing deat or people with family problerns. This also enables then) to increase capacity amongst missionaries to see the Christian faith improve¢l advanced and spread througb the incom¢ derived frts the sal¢ of thes¢ Trsour¢es being re-distributed to the religious organisations. Tbe trustee5 ¢onfimi that they have complied with the requirements of the Charities Act (Northern Jreland) 2008 to bave due regard to th¢ public benefit guidance published by the Charity Commission for Northern Ireland. Achievements and performance A challenging year with ongoing financial issue5 facing so many- people still ¢alling iuto shop seeking help and advice with so many issues and stsuggles. As in previous yeors the shop bas tried to help local missions and tract producers etc. Structure* governance and management FiD#lleial instruments Objectiwes t7ndpolicies The charity's activitie5 expose it to a number of financial risks including edit rssK e&%h flow risk and liquidity risk. The use of fu)ancial derivatives 15 governed by the charity's policies approved by the board of ttustees. which provide written principles on the use of fjnancial derivative5 to nlanage these risks. The ¢harity does not use derivative financial ins1rnments for speculative purposes. Cashflow rtsk The cbaxity's activities expose it prirnarily to the fjnancial risks of changes in foreign currency exchang¢ rates and interest rates. The charity uses foreigll exchallge forward eontraets and interest rate swap contracts to hedg¢ these exposures. Inter¢st beartng assets and liabilities are held at fixed rate to ensure certainty of cash t]ows. Page 2
The Burning Bush Trusteesl Report (continued) Credil risk Th¢ oharity's principal finallcial &%sets are bank balances and cash trad¢ and other receivables, and investtllents. The ¢harity'S ¢redit risk is primarily attril)utable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubrful r¢oeivables. An allowance for irapainn¢nt ts made where there is all identified loss event whicty based on previous ¢xp¢rien¢¢, is evidence of a reduction in th¢ recoverability of the cash flows. The credit risk oll liquid fijnds and derivative financial instrummts is limited because tb¢ ¢ou]tterparties are bal5 with high cr¢dit-rating5 a5sign¢d by international credit-rating agencies. The chlty has no 5igllificant ¢on¢entration of ¢r¢dit risk. with exposure $PTead over a large nutnber of counterparties and custojners. Llquldty rtsk Ill order to maintain liquidity to ensure that sufficienl funds are available for ongoing operation$ and fijture developments, the clwity uses a Jnixture of long-terrn and short-terni debt fjnance. Further details regarding ]iquidity risk can be found in the Statement of accounting policies in the fmancial statenL¢nts. The annual report was approved by the tswtees of the Charity on 30 May 2024 and signed on its behalf by.. Mrs Ruth Neill Tntee Mr Billi¢ Neill Trustee Page 3