I consider this a ten slip-up, because how can Black Beauty be a male horse and female horse at once!!!?!?
In the beginning of the movie, Black Beauty begins to tell his story. When he is in the field with his mother and talks about how he wanted to be near her all the time but all she does is stand around and eat, Beauty is shown as a foal with his hind end toward the camera. When he swishes his tail..it is very evident that he is actually played by a she. If you're not completely certain of this..do a search for external female equine genitalia versus external male equine genitalia! It is obvious that our beloved gelding who tells the story is played by a little filly at this point of the movie.
It's kind of funny, as far as I can tell, the directors of the movie did a fine job casting the rest of the roles. Well, that is all.