REGISTERED CHAIUTY NUMBER: 101391 Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 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 Year Ended 31 March 2025 Page Report of the Trustees IndependeDt Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detailed Statement of Financial Activities 12
The Black CharitabIe Trust Report of the Trustees for the Year Ended 31 March 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 bascs are founded on the verbal inspiration of the scrlptures 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, through faith alone in thc Lord Jesus Christ. To fund religious activities, provide overseas aid/famiiie relief, to asslst 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 actlVAties The Charity finances missionary societies work in the provision of hospitals and schools and aids 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 for the care of orphans and others in need. FINANCIAL REVIEW Going Concern The Trustee's believe that the Charity's flnancial statcments should be prepared on a going concern basis on the grounds that current and futurc sources of funding and support will be more than adequate for the Charity's needs. STRUCTURE, GOVERNANCE AND MANAGEMENT GovernAng document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 101391 Principal address 3 Ballymullen Road Lisburn Co. Down BT27 5PJ Trustees Mr William Desmond Black Mrs Laura Black Page I
The BIack Charitable Trust Report of the Trustees for the Year Ended 31 March 2025 REFERENCE AND ADIWllNISTRATIVE DETAILS 11 Independent Examiner Elizabeth Chambers 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 trustees on 25 June 2025 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 year ended 31 March 2025, which are set out on pages four to eleven. Respective responsibilities of charity trustees and examiner As tlie 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 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. 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 givcn by the Charity Commission for Northerii 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 records. 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.. 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 inforniation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no conccrns 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 have found no matters that requirc drawing to your attention. Elizabeth Chambers FCA Chartered Accountants Ireland Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Date: 25 June 2025 Page 3
The Black Charitable Trust Statement of Financial Activities for the Year Ended 31 March 2025 Year Ended Year Ended 31.3.25 31.3.24 Unrestricted Total fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 57,226 66,402 Investment income 30,854 43,311 Total 88,080 109,713 EXPENDITURE ON Raising funds (20,573) (2,283) Charitable activities Charitable activities 218,000 182,000 Other 52 82 Total 197,479 179,799 Net (loss)/gains on investments 14,695 NET INCOME/(EXPENDITURE) (117,344) (55,391) RECONCILIATION OF FUNDS Total funds brought forward 1,806,786 1,862,177 TOTAL FUNDS CARRIED FORWARD 1,689,442 1,806,786 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 4
The Black Charitable Trust Balance Sheet 31 March 2025 31.3.25 Unrestricted fund 31.3.24 Total funds Notes FIXED ASSETS Investment property 75,750 75,750 CURRENT ASSETS Debtors Investments Cash at bank 6,205 1,002,846 606,031 10,692 978,956 742,713 1,615,082 1,732,361 CREDITORS Amounts falling due within one year (1,390) {1,325) NET CURRENT ASSETS 1,613,692 1,731,036 TOTAL ASSETS LESS CURRENT LIABILITIES 1.689,442 1,806,786 NET ASSETS 1,689,442 1,806,786 FUNDS Unrcstricted funds 10 1,689,442 1,806,786 TOTAL FUNDS 1.689,442 1,806,786 The financial statements were approved and authorised for issue by the Board of Trustees on 25 June 2025 and were signed on its bchalf by.. Mr William Desmond Black - Trustee Mrs Laura Black - Trustee The notes forni part of these financial statements Page 5
The Black Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2025 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 Rccommended Practice applicable to charities preparlng 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 applicable in the UK and Republic of Ireland, aiid the Charities Act 201 l. The financial statements have been prepared under the historical cost convention. Income All income is recognised 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 constructive 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 beeii classified under headings that aggregate all Cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with th¢ use of resources. Charitable activities Charitable expeIiditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allo¢at¢d 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 grant has 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 propertics held by the Charity are included in the financial statements at fair value, as per the trustee's valuations. The fair value assertion is de¢med not to be materially different from open market value. Current Asset Investments Current asset investments are included at the lower of cost and net realisable value/market value. Donations and legacies Donations and Icgacies arc recognised on a receivable basis when receipt is probabl¢ 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 discietion of the trustees. Page 6 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTtNG POLICIES - continued Fund accounting Restricted funds can only be used for particular restricted purposcs within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Financial instruments Financial assets and financial liabilities are recognised when the Charlty becomes a party to the contractual provisions of the instrument. Financial liabillties 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 inittally measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a flnancing transaction. If an arrangement constitutes a financing 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 th¢ Charity intends eitlier to settle on a nct 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 paty 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 transferred coiitrol of the asset to another paty Financial liabilitics are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. INVESTMENT INCOME Year Ended Year Ended 31.3.25 31.3.24 Rents received Deposit account interest 7,020 23,834 7,020 36,291 30,854 43,311 Page 7 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 RAISING FUNDS Raising donations and legacies Year Ended Year Ended 31.3.25 31.3.24 Support costs 1,385 1,385 Investment management costs Year Ended Year Ended 31.3.25 31.3.24 Investment advice Insurance 5,231 665 3,316 710 5,896 4,026 TRUSTEES, RElVtUNERATION AND BENEFITS Thcre were no trustees, rcmuneration or other benefits for the year ended 31 March 2025 nor for the period ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the period ended 31 March 2024. COIIIPARATIVES FOR THE STATEMENT OF FrfANcIAL ACTIVITIES Unrestricted fund INCOME ATID EIYDOWMENTS FROM Donations and legacies 66,402 Investment income 43,311 Total 109,713 EXPEIYDITURE ON Raising funds (2,283) Page 8 continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund Charitable activities Charitable activities 182,000 Other 82 Total 179,799 Net gains on investments 14,695 NET INCOMEI{EXPENDITURE) (55,391) RECONCILIATION OF FUNDS Total funds brought fonvard 1,862,177 TOTAL FUNDS CARRIED FORWARD 1,806,786 INVESTMENT PROPERTY FAIR VALUE At l April 2024 and 31 March 2025 75,750 NET BOOK VALUE At 31 March 2025 75,750 At 31 March 2024 75,750 Page 9 continued...
The Black Cbaritable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Prepayments and accrued income 6,205 10,692 CURRENT ASSET INVESTMENTS 31.3.25 31.3.24 Unlisted investments 1,002,846 978,956 CREDITORS.. AMOUNTS FALLING DUE wITHrf ONE YEAR 31.3.25 31.3.24 Other creditors 1,390 1,325 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 1,806,786 (117,344) 1,689,442 TOTAL FUNDS 1,806,786 117,344) 1,689,442 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds. Unrestricted funds General fund 88,080 (197,479) (7,945) (117,344) TOTAL FUNDS 88,080 197,479) Page lo continued...
The Black Charitable Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31.3.24 At 6.4.23 Unrestricted funds General fund 1,862,177 (55,391) 1,806,786 TOTAL FUNDS 1,862,177 55,391) 1,806,786 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 fund 109,713 (179,799) 14,695 (55,391) TOTAL FUNDS 109,713 179,799) 14,695 55,391) 11. RELATED PARTY DISCLOSURES During the year the trustee's made donations to the charity of £40,000. (2024.. £35,000). Pagell
The Black Charitable Trust Detailed Statenlent of Financial Activities for the Year Ended 31 March 2025 Year Ended Year Ended 31.3.25 31.3.24 INCOIVIE AND ENDOWIWIENTS Donations and Iegacies Donations Gift aid Dividends receÉved 40,000 35,000 17,500 13,902 57,226 66,402 Investment income Rents received Deposit account interest 7,020 23,834 7,020 36,291 30.854 43,311 Total incoming resources 88,080 109,713 EXPENDITURE Other trading activities Gain on sale of investment property (27,854) (7,694) Investment management costs Investment advice Insurance 5,231 665 3,316 710 5,896 4,026 Charitable activities Charitable donations 218,000 182,000 Other Bank interest 52 82 Support costs Governance costs Accountancy and legal fees 1,385 1,385 Total resources expended 197.479 179,799 Net expenditure 109,399) 70,086 This page does not forn] part of the statutory financial statements Page 12