2021-03-31-accounts - Bury St Edmunds Ecumenical Centre Trust

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CHARITY REGISTRATION NUMBER: 1099687

Bury St Edmunds Ecumenical Centre Trust Unaudited financial statements 31 March 2021

Bury St Edmunds Ecumenical Centre Trust

Financial statements

Year ended 31 March 2021

	Pages
Trustees’ annual report	1to4
Independent examiner's report to the trustees	5
Statement of financial activities	6
Balance sheet	7
Notestothefinancialstatements	8to18

Bury St Edmunds Ecumenical Centre Trust

Trustees‘ annual report

Year ended 31 March 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to	The financial statements have been prepared in accordance with the accounting policies set out in notes to	The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts and comply with the charity's governing document, the Charities Act 2011 and 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
published in October 2019.
Reference and administrative details
Registered charity name Bury St Edmunds Ecumenical Centre Trust
Charity registration number 1099687
Principal office St John's Centre
St John's Street
Bury St Edmunds
IP331SN

The trustees

The trustees who served during the year and at the date of approval were as follows:

		A Mann
		G Dunham
		Rev M Edge (Appointed	01/04/2020)
		S Harper
		D Wakeford
		J Wakelam
		B Wesley
Bankers		CAF Bank Limited
		25 Kings Hill Avenue
		Kings Hill
		West Mailing
		Kent	;
		ME19 4TA
Independent	examiner	L Thurston FCCA
		Lovewell Blake LLP
		Chartered accountants
		First Floor Suite
		2 Hillside Business Park
		Bury St Edmunds
		IP327EA

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Bury St Edmunds Ecumenical Centre Trust

Trustees’ annual report (continuea)

Year ended 31 March 2021

Objectives and activities

The charity's objects are:

¢ the advancement of the Christian religion;
e the advancement of education of the inhabitants of Bury St Edmunds and elsewhere;
the provision of facilities for recreation or other leisure time occupation in the interests of social welfare, for persons in need of such facilities with the object of improving the conditions of life for such people;
the relief of poverty, in particular in developing countries.

The charity is known locally and throughout these financial statements as BECT, its principal activity is to support The Centre in St John's Street, Bury St Edmunds, a local education and community centre. The Centre aims to meets the needs of many community groups providing a much needed town centre location for various educational and recreational activities.

Public benefit reporting

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on Public Benefit including, The Public Benefit Requirement (PB1), Running a Charity (PB2) and Reporting (PB3).

Achievements and performance

Following the successful redevelopment of The Centre a number of years ago, for which BECT obtained a twenty year lease from the St John's School Centre Trustees, considerable progress has been made in achieving the outcomes sought by the Big Lottery and other funders. Sue Szymanski our Community Development Manager, must take much credit for the strong community feel achieved and the wide range of activities undertaken.

The number of people and range of organisations accessing services The Centre remained high up to the introduction of the coronavirus lockdown in late March 2020, with a considerable proportion being from disadvantaged groups. Due to the lockdown no activities took place at The Centre from April to August 2020 and the three part-time staff were placed on furlough under the Coronavirus Job Retention Scheme.

Following a detailed risk assessment and the introduction of a wide range of precautionary measures which restricted the level of activity, the building reopened in September 2020. Since then in a changing situation The Centre has been open for part of the time in accordance with what was possible in accordance with national restrictions and our own risk assessments.

Plans for future periods

The trustees aim is to raise sufficient funding to enable The Centre to meet sustainably the identified education, recreation and hospitality needs of the community in the future and to contribute to the relief of poverty in developing countries.

It therefore remains our policy to provide a wide variety of educational, training and recreational outcomes and to reach a good level of usage, helping to make The Centre financially sustainable.

The coronavirus pandemic has created much uncertainty, with our risk assessments indicating the need to operate at a reduced level and the staff and trustees continue to monitor the situation closely.

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Bury St Edmunds Ecumenical Centre Trust

Trustees’ annual report (continueg)

Year ended 31 March 2021

Financial review

As reflected in the Statement of Financial Activities the running costs of The Centre are funded by donations and rental income. The original expenditure on The Centre redevelopment was funded by grant income from the Big Lottery and matched funding from a wide range of other sources. This is now being depreciated over the period of the lease, with continuing support received from the Saxham Trust in this and the previous year.

The pandemic has seriously affected activity and income, but the effect of this has been mitigated by the furlough scheme and the grants received during the year from trusts and through local government. These sources of income are shown in note 4 on page 12.

Income from the year saw a small decrease to £52,846 (2020: £61,057) with expenditure also decreasing at £88,622 (2020: £105,468). The resulting net expenditure on funds of £35,776 (2020: £44,411) is expected as this relates to restricted funds being spent as planned and for the purposes of the fund. It is anticipated that future activities will remain inline with this and the previous financial year.

Reserves policy

The charities reserves policy is to hold six months unrestricted expenditure as free reserves which would amount to £26,823 (2020: £30,651) based on current expenditure levels. The policy is set to hold enough free reserves to enable the charity to fulfill statutory and legal obligations and to provide a contingency fund to meet unforeseen falls in income or increases in expenditure.

The charities actual free reserves amounted to £51,062 as at the year end (2020: £51,861). The trustees feel that it is prudent to hold a small surplus given the current financial climate, this is reviewed annually with the intention to spend excess reserves in due course. :

Structure, governance and management

Bury St Edmunds Ecumenical Centre Trust is an unincorporated charity established under a declaration of trust dated 23 June 2003. It is governed by its trustees who meet on a regular basis during the year. The existing trustees are shown on the reference and administration details of the accounts, some of whom have held office for several years.

Further trustees may be appointed at any time, at the discretion of the trustees. A new trustee would receive copies of the declaration of trust, the previous year's annual report and accounts and relevant guidance publications from the Charity Commission.

The trustees have identified the major risks facing the charity and have assessed their potential impact. Appropriate systems have been established to monitor and mitigate these risks.

True and fair override

The financial statements have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair view". This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice from 1 Apri! 2005 which has since been withdrawn.

Independent examiner reappointment

A resolution to appoint L Thurston FCCA of Lovewell Blake LLP as independent examiner will be proposed at the next meeting.

Bury St Edmunds Ecumenical Centre Trust

Trustees’ annual report (continuea)

Year ended 31 March 2021

oa 2 The trustees' annual report was approved on [10 [ene and signed on behalf of the board of trustees by:

A Mann Chair

a ee

Bury St Edmunds Ecumenical Centre Trust Independent examiner's report to the trustees of Bury St Edmunds Ecumenical Centre Trust

Year ended 31 March 2021

| report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
— the financial statements do not accord with those records; or
_ the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

| understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. LThued 1/19 [2

L Thurston FCCA Independent Examiner

Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA

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Bury St Edmunds Ecumenical Centre Trust

Statement of financial activities

Year ended 31 March 2021

			2021		2020
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	44,572	-	44,572	17,708
Charitable activities	5	8,265	-	8,265	42,308
Investment income	6	9	-	9	180
Otherincome	rs	-	-	-	861
Total income		52,846	=	52,846	61,057
Expenditure
Charitable activities	8	53,645	34,977	88,622	105,468
Total expenditure		53,645	34,977	88,622	105,468
Netexpenditure and netmovement in funds		(799)	(34,977)	(35,776)	(44,411)
Reconciliation offunds
Total funds brought forward		51,861	305,615	357,476	401,887
Totalfundscarriedforward		51,062	270,638	321,700	357,476

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 18 form part of these financial statements.

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Bury St Edmunds Ecumenical Centre Trust

Balance sheet

31 March 2021

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||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |Note|£|£|£|£| |Fixed|assets| |Tangible|fixed|assets|12|341,022|375,999| |Investments|13|1|1| |341,023|376,000| |Current|assets| |Debtors|14|2,266|4,691| |Cash|at|bank|and|in|hand|14,079|17,266| |16,345|21,957| |Creditors:|Amounts|falling|due|within| |one|year|15|(5,043)|(6,356)| |Net current assets|11,302|15,601| |Total|assets|less|current|liabilities|352,525|391,601| |Creditors:|Amounts|falling|due|after| |more|than|one|year|16|(30,625)|(34,125)| |Net assets|321,700|357,476| |Funds|of the|charity| |Restricted|funds|270,638|305,615| |Unrestricted|funds|51,062|51,861| |Total|charity funds|17|321,700|357,476|

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These financial statements were approved by the board of trustees and authorised for issue on ;Sfrofrer and are signed on behalf of the board by: js

----- Start of picture text -----
A Mann
Chair
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The notes on pages 8 to 18 form part of these financial statements.

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Bury St Edmunds Ecumenical Centre Trust Notes to the financial statements Year ended 31 March 2021

General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Bury St Edmunds Ecumenical Trust, St John's Centre, St John's Street, Bury St Edmunds, Suffolk, 1P33 1SJ. 2. Statement of compliance The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), . the Charities Act 2011and UK UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a “true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a “true and fair view”. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice from 1 April 2005 which has since been withdrawn.

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on the on going concern basis and the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statement. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Trustees have taken into account the impact of Covid-19 when assessing going concern.

Income tax

The charity is not liable to tax on its activities for the year.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds, where necessary are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continueg

Year ended 31 March 2021

3. Accounting policies (continued)

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impracticle to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates, grouped in aggregate to all costs related to that category:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a Straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property . straight line over the term of the lease Centre furniture, fixtures and - straight line over 3 to 5 years fittings

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continueg

Year ended 31 March 2021

Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	2
Donations
Donations (less than £1,000 each)	215	-	215
Grants Saxham Trust	3,000	_	3,000
Suffolk Community Foundation	-	-	=
Co-op Community Fund	-	-	_
The Lathbury Institute	4,000	-	4,000
St John's Centre	4,000	-	4,000
CJRS grant	21,807	=	21,807
West Suffolk covid-19 grant	11,550	-	11,550
	44,572	-	44,572
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	a	=	£
Donations
Donations(lessthan£1,000each)	250	-	250

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continueq)

Year ended 31 March 2021

4.	Donations and legacies (continued)
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Grants
	Saxham Trust		10,000		10,000
	Suffolk Community Foundation		~	2,000	2,000
	Co-op Community Fund		5,458	-	5,458
	The Lathbury Institute		-	-	-
	St John's Centre		_	-	~
	CJRS grant		=	_	-
	West Suffolkcovid-19 grant		-	-	-
			15,708	2,000	17,708
5.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Users' contributions	8,265	8,265	42,308	42,308
6.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Bank interest receivable	9	9	180	180
7.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Otherincome	=	_	861	861

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continuea)

Year ended 31 March 2021

8. Expenditure on charitable activities

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2021| |£|£|£| |Staff|costs|32,905|-|32,905| |Rent,|service|charge|and|water|rates|6,364|-|6,364| |Heat and|light|2,448|-|2,448| |Consultancy|and|training|1,559|-|1,559| |Repair|and|renewals|3,134|-|3,134| |Cleaning|750|-|750| |Depreciation|-|34,977|34,977| |Support|costs|6,485|-|6,485| |53,645|34,977|88,622| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2020| |E|£|£| |Staff|costs|31,648|2,000|33,648| |Rent,|service|charge|and|water|rates|6,006|-|6,006| |Heat and|light|5,346|-|5,346| |Consultancy|and|training|388|-|388| |Repair|and|renewals|8,799|-|8,799| |Cleaning|1,202|-|1,202| |Depreciation|14|42,068|42,082| |Support|costs|7,898|99|7,997| |61,301|44,167|105,468| |Analysis|of Support|costs| |2021|2020| |£|£| |Postage,|stationery|and|printing|103|751| |Computer|costs|241|274| |Bookkeeping|fees|1,247|1,140| |Telephone|and|mobiles|554|680| |Insurance|2,980|3,001| |Travel|expenses|as|24| |Independent|examination|fee|889|774| |Sundry|expenses|471|1,353| |6,485|7,997| |9.|Net expenditure| |Net|expenditure|is|stated|after|charging/(crediting):| |2021|2020| |£|:|£| |Depreciation|of tangible|fixed|assets|34,977|42,082|

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continued)

Year ended 31 March 2021

10. Staff costs

|The total staffcosts and employee benefits for the reporting period are analysed as follows:|The total staffcosts and employee benefits for the reporting period are analysed as follows:|||| |---|---|---|---| ||2021||2020| ||ze||£| |Wages and salaries|32,509||33,290| |Employer contributions to pension plans|396||358| ||32,905||33,648|

The average head count of employees during the year was 3 (2020: 3).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

11. Trustee remuneration and expenses

The key management personnel of the charity comprise the trustees and the senior management as listed on the reference and administration details of the accounts . The trustees neither received nor waived any remuneration during the year (2020: £Nil). The total amount of employee benefits received by senior management for services to the charity was £19,398 (2020: £19,472).

Two trustee's received reimbursement of expenses during the year amounting to £1,941 (2020: ENil).

12. Tangible fixed assets

			Centre
		Short	furniture,
		leasehold	fixtures and
		property	fittings	Total
	‘	£	£	£
Cost
At1 April 2020 and 31 March 2021		699,532	23,701	723,233
Depreciation
At 1 April 2020		323,533	23,701	347,234
Charge forthe	year	34,977	=	34,977
At31 March 2021		358,510	23,701	382,211
Carrying amount
At 31 March 2021		341,022	-	341,022
At31March2020		375,999	~	375,999

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continueq

Year ended 31 March 2021

Investments
	Shares	in
	group
	undertakings
	£
Cost orvaluation
At1 April 2020 and 31 March 2021		tf
Impairment
At1 April 2020and 31 March 2021		=
Carrying amount
At 31 March 2021		1
At 31 March 2020		1
Allinvestmentsshownaboveareheldatvaluation.

14.	Debtors
			2021	2020
			£	£
	Trade debtors		1,396	2,996
	Prepayments and accrued income		870	834
	Other debtors		-	861
			2,266	4,691
15.	Creditors: Amounts falling due within oneyear	year
			2021	2020
			£	£
	Accruals and deferred income		882	773
	Other creditors		661	2,083
	Loan	;	3,500	3,500
			5,043	6,356
16.	Creditors: Amounts falling due after more	than one year
			2021	2020
	,		£	£
	Loan		30,625	34,125

Included within creditors: amounts falling due after more than one year is an amount of £16,625 (2020: £20,125) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continued

Year ended 31 March 2021

17. Analysis of charitable funds

Restricted funds

		At1 April 2020	Income	Expenditure	Transfers	Transfers	At 31 March 2021
Centre	redevelopment	(3 305,615	£ -	£ (34,977)	£	-	£ 270,638
		At 1 April					At 31 March
		2019	Income	Expenditure	Transfers		2020
		£	£	£	£		£
Centre	redevelopment	347,683	-	(42,068)		-	305,615
Artisticworkshops	workshops	99	-	(99)		-	_
Garden	projectfund	-	2,000	(2,000)		-	_
		347,782	2,000	(44,167)		-	305,615

Purpose of restricted funds:

Centre redevelopment represents funding received for the redevelopment of The Centre building and facilities, occasionally in order to maintain the upkeep of The Centre, restricted costs are expensed out of unrestricted funds.

Artistic workshops represents funding from Suffolk Community Foundation and Art Group Bury St Edmunds for artistic workshops for older people to provide a stimulating and rewarding regular activity.

The garden project fund represents funding received from Suffolk Community Foundation for a drawing and gardening project for disadvantaged people, the amount was fully expensed in the year to 31 March 2020.

Unrestricted funds

		At 1 April				At	31 March
		2020	Income	Expenditure	Transfers		2021
		£	£	£	£		£
General	funds	51,861	52,846	(53,645)	-		51,062
		At1 April				At	31 March
		2019	Income	Expenditure	Transfers		2020
		£	£	£	£		£
General	funds	54,105	59,057	(61,301)	-		51,861

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Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continueg

Year ended 31 March 2021

18. Analysis of net assets between funds

As at 31 March 2021
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
	!	£	£	£
Tangiblefixed assets		1	341,022	341,023
Net current assets		81,686	(70,384)	11,302
Creditors due afterone year		(30,625)	-	(30,625)
NetAssets		51,062	270,638	321,700
As at 31 March 2020
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Tangible fixed assets		1	375,999	376,000
Net current assets		85,985	(70,384)	15,601
Creditors due afterone year		(34,125)	-	(34,125)
NetAssets		51,861	305,615	357,476
Defined contribution plans
The amount recognised in income	or expenditure as an expense in		relation to defined	contribution
plans was£396 (2020: £358).
				.

19. Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £396 (2020: £358).

20. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2021	2020
	£	£
Not laterthan 1 year	4,750	4,750
Laterthan 1 year and not laterthan 5 years	19,000	19,000
Laterthan 5 years	11,479	16,229
	35,229	39,979

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& :

Bury St Edmunds Ecumenical Centre Trust

Notes to the financial statements (continued)

Year ended 31 March 2021.

21. Related parties

At the year end there was no longer an outstanding creditor owed to Just Traid (Bury St Edmunds) Limited (2020: £382). Just Traid (Bury St Edmunds) Limited is the subsidiary charity of Bury St Edmunds Ecumenical Centre Trust.

At the year end there was a loan outstanding to The St. John's School Centre, who also lease the building for which Bury St Edmunds Ecumenical Centre Trust operate. S Harper and A Mann held a position of trustee in both charities throughout this and the prior year. The loan is interest free and the amount outstanding at the year end was £34,125 (2020: £37,625). Total rent paid during the year was £1,000 (2020: £1,000).

Total donations received from related parties were £11,000 (2020: £10,000).

Their were no other related party transactions during this or[the][prior][year.]

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