REGISTERED CHAIUTY NUMBER: 101391 Report of the Trustees and Financial Statements for the Period 6 April 2022 to 31 March 2023 for The Black Charitable Trust Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP
The Black Charitable Trust Contents of the Financial Statements for the Period 6 April 2022 to 31 March 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 12 Detailed Statement of Financial Activities 13 to 14
The Black Charitable Trust Report of the Trustees for the Period 6 April 2022 to 31 March 2023 The trustees present their report with the financial statements of the charity for the period 6 April 2022 to 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims. To advance the work of evangelical missionary societies, whose doctrinal bases are founded on the verbal inspiration of the scriptures of the old and new testaments, as originally given and whose aim is to call sinners in repentance to God to be saved by grace alone, thiough faith alone in the Lord Jesus Cl]rist. To fund religious activities, provide overseas aid/famine relief, to assist with poverty relief, to finance the supply of medicines and medical care and to provide health and general education for both adults and children. Significant activities The Charity finances missionary societies work in the provision of hospitals and schools and provides assistance with the publication of literature and Provision of supplies for such publications. It also provides financial support for translation of the bible and other religious literature and foi the care of orphans and others in need. FINANCIAL REVIEW Going Concern The Trustee's believe that the Charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding and support will be more than adequate for the Charity's needs. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. REFEREINCE AND ADMINISTRATIVE DETAILS Registered Charity number 101391 Principal address 125 Saintfield Road Lisburn Co. Down BT27 5PG Trustees Mr William Desmond Black Mrs Laura Black Page I
The Black Charitsble Trust Report of the Trustees for the Period 6 April 2022 to 31 March 2023 REFERENCE AND ADMIINISTRATIVE DETAILS Independent Examiner John Mccleary, FCA Chartered Accountants Ireland Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Appioved by order of the board of trustees on 16 May 2023 and signed on its behalf by: Mr William Desmond Black - Trustee Page 2
Independent Examiner's Report to the Trustees of The Black Charitable Trust I report on the accounts of the charity for the period 6 April 2022 to 31 March 2023, which are set out on pages four to twelve. Respective responsibilities of charity trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008 ('the Act,). I have examined your charity's accounts as required under Section 65 of the Charities Act. In canying out my examination I have followed the Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. It is my responsibility to, examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those Tecords. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of the Act That there is further infornjation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters ( l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I hav¢ found no matters that require drawing to your attention. Mccleary, FCA Chartered Accountants Ireland Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP 16 May 2023 Page 3
The B12ck Charitable Trust Statement of Financial Activities for the Period 6 April 2022 to 31 March 2023 Period 6.4.22 to 31.3.23 Unrestricted Total fund Year Ended 5.4.22 funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 52,565 69,204 Investment income 21,689 9,784 Total 74,254 78,988 EXPENDITURE ON Raising funds 7,061 4,952 Charitable activities Charitable activities 196,200 226,324 Other 53 47 Total 203,314 231,323 Net gains on investments 9,680 17,117 NET INCOMEI{EXPENDITURE) (119,380) (135,218) RECONCILIATION OF FUNDS Total funds brought forward 1,981,557 2,116,775 TOTAL FUNDS CARIUED FORWARD 1,862,177 1,981,557 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes forni part of these financial statements Page 4
The Black Charitable Trust Balance Sheet 31 March 2023 31.3.23 Unrestricted Total fund 5.4.22 funds Notes FIXED ASSETS Investment pioperty 75,750 75,750 CURRENT ASSETS Debtors Investments Cash at bank 4,735 338,954 1,443,998 200 310,293 1,596,514 1,787,687 1,907,007 CREDITORS Amounts falling due within one year (1,260) (1,200) NET CURRENT ASSETS 1,786,427 1,905,807 TOTAL ASSETS LESS CURRENT LIABILITIES 1.862,177 1,981,557 NET ASSETS 1,862.177 1,981.557 FUNDS Unrestricted funds 10 1,862,177 1,981,557 TOTAL FUNDS 1,862,177 1,981,557 The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2023 and were signed on its behalf by.. Mr William Desmond Black - Trnstee Mrs Laura Black - Trustee Thc notes fonn part of these financial statements Page 5
The Black Charitable Trust Notes to the Financial Statements for the Period 6 April 2022 to 31 March 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act (Northern Ireland) 2008. The financial statements have been prepared under the historical cost convention. Income All income is Tecognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constrnctive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost ielated to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Charitable activities Charitable expenditure comprises those costs InCued by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grant Provisions Provisions for grants are made when the intention to make a allt has been communicated to the recipient but there is unccrtainty about either the timing of the grant or the amount of grant payable. Investment Properties Investment properties held by the Charity are included in the financial statements at fair value, as per the trustee's valuations. The fair value assertion is deemed not to be materially diffeient from open market value. Current Asset Investments Current asset investments are included at the lower of cost and net realisable valuelmarket value. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 6 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 ACCOUNTING POLICIES- continued Fund accounting Restricted ndS can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when llds are raised for particular restricted purposes. Financial instruments Financial assets and flnancial liabilities are recognised when the Charity becomes a paty to the contractual provisions of the instriiment. Financial liabilities and equity instruments are Classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities. Recognition and measurement. All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is notmally the transaction price excluding transaction costs), unless the aangernent constitutes a financing transaction. If an arrangement constitutes a fLnancing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of fInancial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Chlty intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled. b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transfeTTed control of the ass¢t to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. INVESTMENT INCOME Period 6.4.22 to 31.3.23 Year Ended 5.4.22 Rents received Deposit account interest 7,020 14,669 7,605 2,179 21,689 9.784 Page 7 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 RAISING FUNDS Raising donations and legacies Period 6.4.22 to 31.3.23 Year Ended 5.4.22 Support costs 1,380 1,628 Investment management costs Period 6.4.22 to 31.3.23 Year Ended 5.4.22 Investment advice Propety repairs Insurance 2,660 2,714 420 190 617 3,277 3,324 Aggregate amounts 7,061 4,952 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the period ended 31 March 2023 nor for the year ended 5 April 2022. Trustees, expenses There were no trustees, expenses paid for the period ended 31 March 2023 nor for the year ended 5 April 2022. Page 8 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Untestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 69,204 Investment income 9,784 Total 78,988 EXPEINDITURE ON Raising funds 4,952 Charitable activities Charitable activities 226,324 Other 47 Total 231,323 Net gains on investments 17,117 NET INCOMEI(EXPENDITURE) (135,218) RECONCILIATION OF FUNDS Total funds brought forward 2,116,775 TOTAL FUNDS CARRIED FORWARD 1,981,557 Page 9 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 INVESTMENT PROPERTY FAIR VALUE At 6 April 2022 and 31 March 2023 NET BOOK VALUE At 31 March 2023 75,750 At 5 April 2022 75,750 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 5.4.22 Prepayments and accrued income 4,735 200 CURRENT ASSET INVESTMENTS 31.3.23 5.4.22 Unlisted investments 338.954 310,293 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 5.4.22 Other creditors 1,260 1,200 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.23 At 6.4.22 Unrestricted funds General fund 1,981,557 (119,380) 1,862,177 TOTAL FUNDS 1,981,557 119,380) 1,862,177 Page 10 continued..
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 10. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in nds. Unrestricted funds General fund 74,254 (203,314) 9,680 (119,380) TOTAL FUNDS 74,254 203,314) 9,680 119,380) Comparatives for movement in funds Net movement in funds At 5.4.22 At 6.4.21 Unrestricted funds General fund 2,116,775 (135,218) 1,981,557 TOTAL FUNDS 2,116,775 135,218) 1,981,557 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fvnd 78,988 {231,323) 17,117 (135,218) TOTAL FUNDS 78,988 231,323) 17.117 135,218) Page Il continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Period 6 April 2022 to 31 March 2023 11. RELATED PARTY DISCLOSURES During the year the trustee's made donations to the charity of £35,000. (2022: £35,000). Page E2
The Black Charitable Trust Detailed Statement of Financial Activities for the Period 6 April 2022 to 31 March 2023 Period 6.4.22 to Year Ended 5.4.22 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Dividends received 35,000 35,000 17,500 16,704 17,565 52,565 69,204 Investment income Rents received Deposit account interest 7,020 14,669 7,605 2,179 21,689 9,784 Total incoming resources 74,254 78,988 EXPENDITURE Other trading activities Loss on salc of investment property 2,404 Investment management costs Investment advice Property repairs Insurance 2,660 2,714 420 190 617 3,277 3,324 Charitable activities Charitable donations 196,200 226,324 Other Bank interest 53 47 Support costs Governance costs Accountancy and legal fees 1,380 1,628 This page does not forn] part of the statutory financial statements Page 13
The Black Charitable Trust Detailed Statement of Financial Activities for the Period 6 April 2022 to 31 March 2023 Period 6.4.22 to Year Ended 5.4.22 31.3.23 Total resources expended 203,314 231,323 Net expenditure 129,060) 152,335) This page does not forni part of the statutory financial statements Page 14