REGISTERED CHAIUTY NUMBER: 101391 Report of the Trustees and Financial Statements for the Year Ended 31 Marth 2024 for The Black Charitable Trust Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Li5burn Co. Antrim BT28 ITP The Blaek Charitsble Trust Contents of the Winancial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Finantial Statements 6 to 11 Detailed St&temeDt of Financial Activities 12 The Black Charitable Trust Report of the Trustees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trnstees 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). ORIECTIVES AND ACTIVITIES Objectives and atms. To advance the work of evangelical missionary societie& 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 sinner5 in repentance to God to be saved by grace alone. through faith alone in the Lord Jesus Christ. To fL￿d religious activities, provide over5ea5 aidlfamine relief. to assist with poverty relief, to finanee the supply of medicines and meth'cal care and to provide health and general education for both adults and children. Significant actlvities The Charity finances missionary societies WO￿ in the provision of hospita15 and schools and Aids wilh the publication of literature and provision of supplie5 for such publications. It also provides financial support for translation of the bible and other religious literdt[￿c and for the care of 0￿ha￿S and others in need. FINANCL4L REVIEW Going Concern The Trustee's believe that the Cbarity's fll)ancial statements should be prepared on a going concern basis on the grounds that current and ￿tUre sources of funding and support will be more than adequate for the Charity's needs. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The clwity is controlled by its governing d￿umellL a deed of trust and constitutes an uninco￿0￿ted cbaTity. REFERENCE AND ADMINISTRATtVE DETAILS Registered Charity number 101391 Principal addre55 125 Saintfield Road Lisburn Co. Down BT27 5PG Trustees Mr William Desmond Black Mrs Laura Black Page I The Blaek Charitable Trust Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examine John Mccleary FCA Chartered Accountants Ireland Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Approved by order of the board of tn￿tee$ on 17 May 2024 and signed on its behalf by: Mr William Desmond Black- Trustee Page 2 Independent Exarniner's Report to the Trustees of The Black Charitable Trust I report on the accounts of the ehaTity for the year ended 31 March 2024, wbich are set out on pages four to eleven. Respective responsibilities of charity trustees and examiner As the charity's trustees you are responsible for tbe preparation of the accounts in accordance with the requirements of the Charities Act (Northem freland) 2008 ('the Aev). I have examined your charity's accounts as required under Section 65 of the Ch￿itieS Act. In carrying 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. li is my responsibility to. - examine the accounts under Section 65 of the cbarits.es Act - follow the procedures laid down in the generaI Directions given by the Charity Commission for Northern Ireland under Section 65(9){b) of the Charitie5 Act - State wheiher particular rnatters have come to my attention. Basis of the independent examiner'5 report I have exarnined your charity accounts as required under Section 65 of the CA￿ltieS Act and my examination was carried out in accordance with the genernl Directions given by the Charity Commission for Northern Ireland under Section 65{9Xb) of the Charili&s Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity tmstees concerning any such matters. My role is to stafr whether any material matters have come to my attention giving me cause to believe.. l. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Act 4. That there is further infomiation needed for a proper understanding of the accounts to be rwhed. Independent examiner's statement I have completed my exarnination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Corntnission for Northern Ireland, I have found no matters that require drawing to your attention. John Mccleary, FCA Chartered Accountants Ireland Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Date.. 17 May 2024 Page 3 The Black Charitable Trust Statement of Financial Activities for the Year Ended 31 March 2024 Period 6.4.22 lo 31.3.23 Total fi￿dS Year Ended 31.3.24 Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 66,402 52,565 Investment income 43.311 21,689 Total 109.713 74.254 EXPENDITURE ON Raising fijnds (2.283) 7.061 Charitable activities Charitable activities 182.000 196,200 Other 82 53 Total 179.799 203.314 Net gains on investments 14.695 9,680 NET IIYCOMEI(EXPENDITURE) (55,391) (119,380) RECONCILIATION OF FUNDS Total funds brought forward 1.862.177 1,981,557 TOTAL FUNDS CARRIED FORWARD 1.806,786 1.862,177 CONTINUING OPERATIONS All income and expenditure has aTi5en from continuing activities. The notes fomi part of these financial statements Page 4 The Black Charitable Trust Balance Shert 31 March 2024 31.3.24 Unrestricted fiind 31.3.23 Total fijnds Notes FIXED ASSETS Inveslment property 75.750 75,750 CURRENT ASSETS Debtors Investment5 Cath at bank 10.692 978.956 742 713 4.735 338,954 1.443,998 1.732.361 1.787.687 CREDITORS Amounts falling due withm one year (1,325) (1,260) NET cuRRE￿r ASSETS 1.731036 1.786 427 TOTAL ASSETS LESS CURRENT LIABtLITIES 1.806,786 1.862,177 NET ASSETS 1.806,786 1862,177 FUNDS UnrestTiCted fimds io 1,806.786 1.862.177 TOTAL FUNDS 1.806,786 1.862.177 The financial statements were approved and authorised for issu¢ by the Board of Trustees on 17 May 2024 and were signed on its behalf by.. Mr William Desmond Black _ Trustee Mrs Laura Black- Trustee The nots forni part of these fmancial statements Page 5 The BIack Charitsble Trust Notes to the Finaneial Stgtements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing tbe 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) 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable io clwities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applieable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convenlion. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fimds. it is probable that the income will be received and the amount can be measured reliably. Expendithre Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be Tequired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has ￿en classifI¢d under beadings that aggregate all cost related to the category. Where costs cannot bc 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 incurred by the charity in the delivery of its activities and services for its beneficiarics. It includes both costs that can be allocated d￿eCtlY to such activities and those costs of an indirect nature necessary to support them. Grant Provision5 Provisions for grants are made when the intention to make a grant bas been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Investment Properties Investment properties beld by the Charity are included in the fina￿la1 statements at fair value, as per the trustce's valuations. The fair value assertion is deemed not to be materially different from open market value. Current Asset Investments Current asset investments are included at the lower of cost and net reaIisable valuelmarket value. Donations 2nd legacies Donations and legacie5 are recognised on a receivable basis when receipt is probable and the amount can b¢ reliably rn¢asured. Taxation The clwity is exempt from tax on its chaTitsble activiti¢s. Fund accounting. Unrestricted fimds can be used in accordance with the charitable objectives at th¢ discretion of the trustees. Page 6 continued... The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Fund accounting. Restricted funds can only be used for particular rtstricted purposes within the objects of the charity. Restrictions arise when specified by the donor OT when funds are rdised for particular restricted purposes. Financial instruments Financial assets and fmancial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instrnments are classified according to the substance of the Contrac￿￿1 atrdngements entered into. An equity instrument is any contract tbat evidence5 a residual interest in tlie assets of the Charity after deducting all of its liabilities. Recognition and measurement. All fitthucial 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 nom]ally the trdnsaction price excluding transaction cost5), unless the a￿angernent constitutes a f￿anCIng transaction. If an arrangen]ent constitutes a flnancing tr2nsaclion, the financial asset or financial liability is measured at the present value of the future payments discounkd at a market rate of interest for a sÈmilar debt instrnment. Financial assets and liabilities are only offset in the statement of financial position Whe￿ and only when there exists a legally enforceable right to sel off the recognised amounts and the Charity intends either to settle on a net basis. or to realise the a&set and settle the liability simultsneously. Financial assets are derecognised when and only when a) the contractual rights to th¢ cash flows from the financial asset expire or are settled. b) the Charity transfers to another party substantially all of the risks and reward5 of ownership of the financial asscl or c) the Charity, despite having retained some, but not all. significant risks and rewards of ownetship. has transferred control of the &sset to another paty. Financial liabilities are derecogDi5ed only when the obligdtion specified ill the contract is discharged, cancelled or expires. INVESTMENT INCOME Period 6.4.22 to 31.3.23 Year Ended 31.3.24 Rents received Deposit account interest 7.020 36.291 7.020 14.669 43.311 21,689 Page 7 continued... The B12¢k Charitable Trust Notes to the Financial Statements - Continued for the Year Ended 31 March 2024 RAISING FUNDS Raising donations 2nd legacie5 Period 6.4.22 Year Ended 31.3.24 31.3.23 Support costs 1.385 Investment management eosts Period 6.4.22 Year Ended 31.3.24 31.3.23 Investment advice Insurance 3.316 710 2,660 617 4,026 3.277 Aggregate amounts 2.283) 7,061 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, rernuneration or other benefits for the year ended 31 March 2024 nor for the period ended 31 March 2023. Trustees, expenses There were no tntstees, expenses paid for the year ended 31 March 2024 nor for the period ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FtNANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donation5 and legacies 52.565 Inveslment income 21,689 Total 74.254 EXPENDITURE ON Raising fvnds 7.061 Page 8 continued... The Black Charitsble Trust Notes to the Financial Statements- continued for the Year Ended 31 Mareh 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted fund Charitable activities Charitable activities 196,200 Other 53 Total 203 314 Net gains on investments NET INCOMEI{EXPENDITURE) {119.380) RECONCILIATION OF FUNDS Total ￿ndS brought forward 1.981.557 TOTAL FUNDS CARRIED FORWARD 1.862,177 INVESTMENT PROPERTY FAIR VALUE At l April 2023 and 31 March 2024 75.750 NET BOOK VALUE At 31 March 2024 75,750 At 31 March 2023 75.750 Page 9 continued... The Black Charitable Trust Notes to the Financial Statements - eontinued ror the YeaT Ended 31 March 2024 DEBTORS.. AMOUNfs FALLING DUE WITHiN ONE YEAR 31.3.24 31.3.23 Prepayments and accrued income 10.692 4,735 CURRENT ASSET INVESTMENTS 31.3.24 31.3.23 Unlisted investments 978.956 338,954 CREDITORS: AMouNfs FALLING DUE wfrHIN ONE YEAR 31.3.24 31.3.23 Other ¢T￿ltO[S 1.325 1,260 10. MOVEMENT IN FUNDS Net movement in funds At 1.4.23 31.3.24 Unrestricted funds General fijnd 1.862.177 (55.391) 1.806,786 TOTAL FUNDS 1.862,177 55.391 1,806.786 Net movement in funds, included in the a￿ve are as follows: Incoming reSoUr￿S Resources expended Gains and Movement losses in fimds. Unrestricted funds General fund 109.713 {179,799) 14.695 (55,391) TOTAL FUNDS I09.713 (179.799) 14,695 55.391) Page 10 Continued... The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 10. mOVE1￿￿NT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 6.4.22 Unre$tricted funds General fund .981,557 (119,380) 1.862,177 TOTAL FUNDS 1.981.557 119 380) 1,862.177 Comparative net movement in fullds. included in the above are as follows.. Incorning resources Resources expcnd¢d Gains and Movement losses in funds Unrestricted funds Geneial fund 74,254 (203,314) 9.680 (119,380) TOTAL FUNDS 74.254 203.314} 9.680 119,380) I I. RELATED PARTY DISCLOSURES During the year the trustee's made donations to the charity of £35.0(KJ. (2023: £35,000). Pagell The Black Charltsble Trust Detailed Staternent of Finallcial Activities for the Year Ended 31 March 2024 Period 6.4.22 to 31.3.23 Year Ended 31.3.24 INCOME AND ENDOWMENTS Donations and legaeie5 Donations Gift aid Dividends received 35,1100 17,500 13.902 35.000 17,565 66,402 52.565 Investment income Rents received Deposit account interest 7.020 36.291 7,020 14,669 43.311 Total in¢omiDg resources 109,713 74,254 EXPENDITURE Other trading 2ctivities Gain on sale of investment propety (7.694) 2,404 Investment management costs Investment advice Insurance 3.316 710 2.660 617 4,026 3.277 Charitable activitie$ Charitable donations 182,000 196,200 Other Bank interest 82 53 Support costs Governance costs Accountancy and legal fees 1.385 1,380 Total Tesources expended 179.799 203.314 Net expenditure (70,086) 129,060 This page does not forni part of the slatutory financial statements Page 12