The Burning Bush Trustees, Report The trustees present the annual report togeth¢r with the financial stat¢m¢nts of the charity for the year ended 31 August 2023. Objectives and activities Public benef The trustees main responsibilities are to increase knowledge of God's word through the Bible and other resources, mainly in Dungannon and Soutb Tyrone are4 to offer comfort and support to fatnilies and persons in need through sickness, death and other issues, and to help support missions in treland and overseas. The charity raises funds through the sale of books and other religious resources in their bookshop & holding events such as concerts & bTeakfast mornings. This enables them to increase religious knowledge within the Dungannon and South Tyrone Area , to offer con]fort to persons in ill health or nearing death, or people with family problems. This also enables them to increase capacity amongst missionaries to see the Christian faith improved, advanced and spread thTough tbe income derived from the sale of these resources being Te-distributed to the religious organisations. The trustees confirm that they have complied with the requirements of the Charities Act (Nortbern Ireland) 2008 to have due regard to the public benefit guidance published by the Charity Con]mission for Nortbern treland. Achievements and perforniance A challenging year with ongoing fll)anciaJ issues facing so many. people still calling into shop seeking help and advice with so many issues and strnggles. As in previous years the shop has trÈed to help local missions and tract producers etc. Strueturey governance and management Financial instruments objec11v andpolicies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity Tisk. The use of fmancial derivatives is governed by the charity's policies approved by the board of trustees. which provide written principles on th¢ use of fmancial derivatives to manage these risks. The charity does not use derivative fJnaDcial instruments for speculative purposes. Cashflow risk The charity's activities expose it primarily to the fjnancial risks of changes in foreign currency exchange rates and interest rates. The Charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of c&sh flows. Page 2
The Burning Bush Trustees, Report (continued) Credil risk The charity's principal financial assets are baDk balances and cash, trade and other receivables, and investrnents. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubt[ receivabl¢s. An allowance for impairnient is made where there 15 an identified loss event which, based on previous experience, is cvidence of a reduction in the recoverability of th¢ cash flows. Th¢ credit risk on liquid funds and derivative financial instnunents is limited because the counterparties are baDks with high credit-ratings assigned by international cr¢dit-Tating agencies. The charity h&$ Tro significant concentration of credit risk, with exposure spread over a large number of counterparties and custo]neTS. Liquidity rlsk order to maintain liquidity to ensure that sufficient funds are available for ongoing operntions and future developments, the cFLarity uses a mixture of long-tern] and short-terni debt fmance. Further details regarding liquidity risk can be found in tbe Statement of ac¢ounting policies in the financial statem¢nts. The annual report was approved by the trtres of the charity on 30 May 2024 and signed on its behalf by: Mrs Ruth Neill TrStee Mr Billie Neill Tntee Page 3