The Blackburn Trust Statement of ffftancial activities For the year ended 30 June 2023 Restricted fuiids Total fiinds 2023 Totlll funds 2022 2023 Note Income from: Investments 11,835 11,835 10,762 Total Income 11,835 11,835 10,762 Expenditure on: Charitable activities: Direct costs GoiTernance cost5 6,662 6,790 6.662 6,790 9,942 2.003 Total expenditure 13,452 13,452 11,945 Net expenditure before net losses on investments Net losses on initestments (1,617) (13,785) (1,617) (13,785) (1,183) (36,061) Net movement In funds (15,402) (15,402) (37,244) Reconciliation of funds: Total funds biought foThvard Net movement in fiinds 335,919 (15,402) 335,919 (15,402) 373,163 (37,244) Total funds carrled forward 320,517 320,517 335.919 All amounts relte to continuou5 operations. ie Statement of financial activtties includes all gains And losses recogtwed in the yeu. Tkie notes on pages 9 to 15 lorm part ol these fin2nciAI statements. PaJe 7
The Blackburn Trust Balance sheet For the year ended 30 June 2023 2023 2022 Note Fixed assets Investments 309,010 321.616 Casl) 2t bank and in hand 13,907 17,861 13,907 17,861 Ctcditors: amounts falling due ivithin onc }pcat (2,400) (3.558) Net current a55ets 11,507 14,303 Total net assets 320,517 335,919 Charity funds liestrictcd funds io 320,517 335,919 Total funds 320,517 335,919 'riie financial stteMentS l)ave been prepared ift accordance widi the provtslons of fRS 102 Section IA _ small entities. Tlie fth2ncial statements ivere approved 2nd authorised for issue b), tl)e Trustees on 29 April 2024 and signed on tlieir belialf b),: Clcavet Fiilto (rrustee) nkin Triistees limited Tlie notes on pages 9 to 15 form pArt OE these financial statements. P8Je 8
The Blackburn Trust Notes to the fmancial statements For the year ended 30 June 2023 General Information Tlie Blickburn Trust is an unincorpoiated trust. Its ptincipal office is 50 Bedfoid Strcct, Belfist. BT2 7FIYI and it lias a cliarity registration number of 101303. Aecountlng policiès 2.1 Basxs of preparation of financial stateftnents The financial statements are prepared on a going concern basis. under tlie histoiic21 cost convention unless otlicThvi5C notcd in the Accouniing policics bdoiv. The), Iiave been prePed in accordance Trvith Applicable laiv and accounting standaids issued by die Finaacial Reporting Council, induding FRS102 "The Financial Reporting Stafkdard Applic*ble in tl)e UK and RepublAC of Ireland" ("FIRS102'?, gnd tl)e Statement OF Recommended Practice - Accounting and Reporting by clIritiCS, cflccti&Fe l January 2019 C'SORP.?. The financial statements are presented in Sterling (Q. The Blackburn Trnst constitutes pubjic benefit entityp as defined by FRS 102. 2.2 Going concern The trustees have assessed that The Blackburn Trnst IIR5 Adequate resource5 to meet die ongoing costs OF the cntity lor A minimum of 12 months from the date OE signtng tlie financial statements. for t1115 reason tlic financi stAtcments IiaiFe been prepared on A going concern b25is Ivliidi piesunies die realisation oEassets and liabilities in the noimAI course of busAness. 2.3 Income All income is rccognised once the Tnt has entidement to the income, it is probable tliat die income vill be Ieceived and the amount of incomc IcccivAblc can bc measured tcliabl),. Income tax iecoverable in relation to investment income i5 iecognised 2t the time tlie investment income is ieceivAbk. Investment iThcome 15 induded Ivl)en receAv?ble. 2.4 Exponditurg Expenditure is tecogniscd once tliere ts a legal or con5tructiir obli£ation to trao5fcr cconotnic bcneFit to third party, it is probable that A transleI of economLC benefits ivill be iequired in settlement and tlie Amount OE the obligAtion can be meAsured reliabl).. Expenditure is da5sificd by activity. Tlie costs ol each 2CtiVity are made up of the total ol direct costs and shared costs, including support costs ioiyolired in undertaking cach actiipit),. Dect costs attributablc to A single actiiuty ATC allocated directl>r to diat ctiVAty,. Sh2Ked costs ivhich contribute to more than one 2ctiiryt)t and suppoit costs ivhicli aic not Attributable to a single activity are apportioned bettveen diose activities on a basis consistent ivitli tlie use of iesources. Central stalf costs arc allocated on the basis of time spent. and dcptcciAtion cl)arges allocated on the poition ol the assevs us Goirernance costs include those costs associated with mecting the constitution21 and statutory requirements of die trust. All expenditure A5 indu5ive of iErecover2ble VAT. PaJe 9
The Blackburn Trust Notes to the fmancial statements For the year ended 30 June 2023 Accounting policies (continued) 2.5 Invastments Fixed asset investmcnts Arc A Foitn OE financial instrLiinent and 2re Alliti2lls1 reco[sed at tlieir transaction Cost And Subsequently measured at f2ir v31ue at tlie Balance slieet date. unlcs5 tEie iTaluc cannot be mellsured Ieli11bl)' in ivl]ich ckse it is meqsured At cost less Jtnpairmenc. Jniresiment gains 1¢ nd losses, vhcdicr rcali5cd or unrealised, 2re combined and presented as 'Gains/(Lo ) on invc5UncAts' in thc 5SCS Statement OF financial activitics. 2.6 Cash at bank and in hand C*sli at bank and in hand includes cash And short-terin l]iglil}' liquid investsnents ivid) 2 slioit m41turity of diree months or less from the date ol acquisition or opening ol thc dcposit ot siii]ilRr accoiint. 2.7 Liabilities and provisions Liabilities are recogoised ivhcn tlicrc is an obligation at the Balance slieet dite as a result OE a pist eiFent, it is probable tliat 2 transfer of cconomic bcncfit ivill bc rcquitcd in 5cttlennt, and die allut OE die settlement C2n be estitnated rcliably. Liabilttics arc rccogoised At die Aiiiount tl)At tlie Trust anticipates it i¥ill PA), to setde tlie debt oi tlie ainount it lias receiired as advanced payments fr)r tlie good5 or scrvicc5 It inust proiFide. Provisions are tneisured at the best estimate of tlic aniounts reqiiired to setde die obligation. Illhere the eFfect of tlic timc ITAlue of money ts Mater1, tlie provision is based on die piescnt IT411uc of tliose Imounts, dtscounted t die pre-tax discount rAte that reflects tlie rtsks specific to tlie liability. Tlie univinding OF tlie discount is recognised die Statement of fanCIal activities as a fu)14 nce cost. 2.8 Fund accountSng Gcnerql fund5 Arc unrestricted funds ivhicli are airaiiable For use at dic discretion of tlic TIu5tCC5 i luitherance of the geTheral objcctiVC5 of thc TIu5t And ivl)tcli liave not been design2ted for odier PUfP05CS. Restricted funds are funds ivhich are to be used in Accordance ividi speclfic restrictions imposed by donois or ivhlcli havc bccn raiscd by die Trust for p2rticu12r purposes. The costs of rliising and administering sucli Eunds are cl)atged against the specific Eund. Thc aim and use of eacli restLiCtcd fund is set out in tlie notcs to tlic [&[1clAI statements. Page 10
The Blackburn Trust Notes to the Fancial statements For the year ended 30 June 2023 Crltlcal accountln9 estlmates and areas of judgement EstimAtes And judgements are required ivhen applying Accounting poIicfic5. Thesc arc continuall}T ClTaluated nd based on lllstorical expienCe ind otlier factots. including expectations of events dJAt are believed to be rvdsonlble under tlie circum5tanCC5. Tlie trust makes estimates and assumptions concerning thc future. Ivhich can involve a l)igli dwee OF judgement oi complexity. The rcsulting Accountiag estimates ivill, b). de£ItiOn, sddom equtd die related actual results. The estimates 2nd Assumptions diat liairc a significant risk of c2using a materfial adju5tmcnt to dic cArr)Ting amount5 01 asscts and liabiltties ivithin the next financial }iear are addiessed beloiw. Fair valiie of investments Uses vArious valuation techniques to deterniine the f#kr value of [ancIal insttuments (Ivhere active market quotes are not kvailable) and non-financial Assets. This involves developing estimAtes and assumptions consi5tcnt ivitli IioTrv inarket partictPntS ivold price tlie instrument. llie trvstee bases its assumptions on obseivablc datA as FaI as possible but diis ts not alivi)Is available. In diat case, min2gement uses tlie best inlormation available. Estimated faix values m2y v%w. fiom the Actual prices tliat ivould be kchieired in an Arn]'s length transactiOlI at the reporting date. Investment income Restticted fiinds 2023 Total fiinds 2023 Listed investments Intciest recetved 10.042 1.793 10,042 1,793 Total 2023 11.835 11,835 Restricted Funds 2022 Total funds 2022 Li5tcd investsnents Interest reccivcd 10,759 10,759 Total 2022 10,762 10,762 Page11
The Blackburn Trust Notes to the fmancial statements For the year ended 30 June 2023 Analysis of expenditure on charitable activities Siimmary by fund type Restrlcted fijnds 2023 Total 2023 Disbursements to benefici2ry Inirestment expcnses Le1 1¢ nd professional fees 6.810 2J28 4.314 6,810 2,328 4,314 Total 2023 13,452 13,452 Restrlcted fi]nds 2022 Total 2022 Disbursements to beneficiary niTestment expenses Legal and professional fees 9.942 2,573 (570) 9,942 2,573 (570) Totil 2022 11,945 11,945 Resources expended DurEThg tl)e )year, no Trustees received An). remunciation (2022 - £NIL). Diiritig tl)e }Tear, no Trustee5 received any benefits in kind (2022 - £NIL). During tlie }TcAr, no Trustees received 2ny reimbursement ofexpenses (2022 - £NIL). 115 dctliilcd in Notc 12, tlic Trnstces received iemuneration foI seThFices ieThdered to tlie Trust in tlie crent year. Independent examiner'5 remuneration 2023 2022 Fees P42)Tible to tlie Trust's independent cNaminer loI dic indepcndcnt cxamioation of d]e Trust's 2nnu21 accounts J,800 600 Page 12
The Blackburn Trust Notes to the financial statements For the year ended 30 June 2023 Fixed asset investments Listed investments Cost or valiiation At l July 2022 AddLtion5 321,616 43,636 (42,456) (13,785) Disposals Cliange m market value At 30 June 2023 309,010 Net book valile At 30 Junc 2023 309,010 At 30 June 2022 321,616 Creditors: Amounts falling due within one year 2023 2022 Accruals and delerrcd income 2,400 3.558 Page 13
The Blackburn Trust Notes to the fmincial statements For the year ended 30 June 2023 40. statement of funds statgmgnt of funds- current year Balance at I Jiily 2022 Gains/ Balance at (Loi>l>Cb) 30 Jiinc 2023 InLomc Expcnditiirc Re5tticted fiinds Restticted Funds - all fund5 335,919 11,835 (13,452) (13,785) 320,517 Statement of funds - prior year B212nce at Gaxns/ Balance at (Losses) 30 June 2022 l Jul}, 2021 Income Eypenditure Restricted fiinds Restticted Funds - ldl funds 380,963 .800) 10,762 (19,745) 7.800 (36,061) 335,919 Odier Restricted funds 373,163 10,762 (11,945) (36,061) 335,919 Page 14
The Blackburn Trust Notes to the fmancial statements For the year ended 30 June 2023 11. Analysis of net assets between funds Analysis of net assets between funds - current year Restticted fiinds Total Aiiids 2023 2023 FiNed asset investments 309,010 13.907 (2,400) 309,010 13,907 (2,400) Current assets editors due ivithin one star Toial 320,517 320,517 Analysis of net assets between funds - prior year RestrLCted lunds 2022 Total funds 2022 Fiked asset inirestments Current assets 321,616 17,861 (3.558) 321,616 17,861 (3.558) Cieditors due ivitl]in one year Total 335,919 335,919 12. Ralated party transactions During dic year to 30 Junc 2023, legal fees of £5,400 (2022: D.600) Ivere paid to Cleaver Fulton Rankin sollcitors. Cleairer Fulton Rankin Trustees IAmited is the AdministratiiFe Tiustee of die tru5L Page15