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2023-01-31-accounts

REGISTERED COMPANY NUMBER: 08366365 (England and Wales) REGISTERED CHARITY NUMBER: 1155555

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BC TRUST

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

BC TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 6
Statement of Financial Activities 7
Statement of Financial Position 8 to 9
Statement of Cash Flows 10
Notes to the Statement of Cash Flows 11
Notes to the Financial Statements 12 to 19

BC TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activities of the charitable company in the year under review were that of the advancement of education and religious practice in accordance with the teachings of the Orthodox Jewish faith, and the relief of poverty.

The financial results of the Charitable Company's activities for the year ended 31 January 2023 are fully reflected in the attached financial statements together with the notes thereon.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.

Grantmaking

Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charitable company.

STRATEGIC REPORT

Achievement and performance

Charitable activities

During the year under review the charity received donations that amounted to £2,669,105 (2022: £1,711,939) and paid grants to institutions that amounted to £2,563,787 (2022: £1,639,652).

Investment performance

During the year under review the charity received rental income of £238,986 (2022: £276,943).

Financial review

Principal funding sources

The charity is financially dependent on income from investment property and charitable donations.

Investment policy and objectives

The company's memorandum and articles of association, which permit the company's funds to be invested in securities or properties of any kind and situated anywhere in the world, control the trustees' investment powers.

The trustees will consider suitable investments as and when they arise.

Reserves policy

The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.

Going concern

The trustees are confident that the charity will continue to operate in the foreseeable future.

Future plans

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

BC TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Related parties

Details of transactions with related parties are disclosed in the notes to the financial statements.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08366365 (England and Wales)

Registered Charity number

1155555

Registered office

50 Wellington Avenue London N15 6BA

Trustees

M Rothfeld B D Rudzinski N Rudzinski Y Y Silberstein

Company Secretary

N Rudzinski

Auditors

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of BC Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Page 2

BC TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Venitt and Greaves, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29 January 2024 and signed on the board's behalf by:

N Rudzinski - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BC TRUST

Opinion

We have audited the financial statements of BC Trust (the 'charitable company') for the year ended 31 January 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BC TRUST

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BC TRUST

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Venitt and Greaves Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 115 Craven Park Road

South Tottenham London N15 6BL

29 January 2024

Page 6

BC TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.1.23
Unrestricted
fund
£
2,669,106
238,986
2,908,092
113,507
3,488,099
7,200
3,608,806
(700,714)
4,790,895
4,090,181		 31.1.22
Total
funds
£
1,711,939
276,943
1,988,882
267,111
1,639,652
12,929
1,919,692
69,190
4,721,705
4,790,895

The notes form part of these financial statements

Page 7

BC TRUST

STATEMENT OF FINANCIAL POSITION 31 JANUARY 2023

Notes
FIXED ASSETS
Investment property
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
17
Unrestricted funds
TOTAL FUNDS		 31.1.23
Unrestricted
fund
£
9,032,823
270,760
64,773
335,533
(454,044)
(118,511)
8,914,312
(4,824,131 )
4,090,181
4,090,181
4,090,181		 31.1.22
Total
funds
£
10,491,035
270,760
66,739
337,499
(1,385,028 )
(1,047,529 )
9,443,506
(4,652,611 )
4,790,895
4,790,895
4,790,895

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 29 January 2024 and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 8

BC TRUST

STATEMENT OF FINANCIAL POSITION - continued 31 JANUARY 2023

B D Rudzinski - Trustee

N Rudzinski - Trustee

The notes form part of these financial statements

Page 9

BC TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Sale of tangible fixed assets
Sale of investment property
Net cash provided by investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the end of
the reporting period
2		 31.1.23
£
(721,453)
(721,453)
(910,562)
1,458,212
547,650
495,899
(324,379)
171,520
(2,283)
66,739
64,456		 31.1.22
£
41,391
41,391
-
-
-
-
(83,381)
(83,381)
(41,990)
108,729
66,739

The notes form part of these financial statements

Page 10

BC TRUST

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Loss on disposal of fixed assets
Decrease in creditors
Net cash (used in)/provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents		 31.1.23
£
(700,714)
910,562
(931,301)
(721,453)
31.1.23
£
64,773
(317)
64,456		 31.1.22
£
69,190
-
(27,799)
41,391
31.1.22
£
66,739
-
66,739

3. ANALYSIS OF CHANGES IN NET DEBT

Net cash
Cash at bank
Bank overdraft
Debt
Debts falling due after 1 year
Total		 At 1.2.22
£
66,739
-
66,739
(4,652,611 )
(4,652,611 )
(4,585,872 )		 Cash flow
£
(1,966)
(317)
(2,283)
(171,520)
(171,520)
(173,803)		 At 31.1.23
£
64,773
(317)
64,456
(4,824,131 )
(4,824,131 )
(4,759,675 )

The notes form part of these financial statements

Page 11

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

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 been 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 the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

continued...

Page 12

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity’s accounting policies, the trustees are required to make judgements,estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. DONATIONS AND LEGACIES

Donations
4.
INVESTMENT INCOME
Rents received
5.
RAISING FUNDS
Raising donations and legacies
Fund raising events
Investment management costs
Management commissions
Property repairs
Bank loan interest
Legal and professional fees
Insurance
Utilities
Office expenses
Aggregate amounts		 31.1.23
£
2,669,106
31.1.23
£
238,986
31.1.23
£
16,300
31.1.23
£
6,000
19,300
-
22,470
2,257
1,418
45,762
97,207
113,507		 31.1.22
£
1,711,939		 31.1.22
£
1,711,939
31.1.22
£
276,943
31.1.22
£
33,714
31.1.22
£
10,579
55,916
144,922
5,441
9,586
6,953
-
233,397
267,111

continued...

Page 13

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

6. CHARITABLE ACTIVITIES COSTS

7.

CHARITABLE ACTIVITIES COSTS
Charitable
GRANTS PAYABLE
Charitable		 Direct
Costs
£
910,562		 Grant
funding of
activities
(see note
7)
£
2,562,319		 Support
costs (see
note 8)
£
15,218
31.1.23
£
2,562,319		 Totals
£
3,488,099
31.1.22
£
1,639,652

Grants payable to institutions during the year were:

Charity Amount (£)
Amud Hatzdokoh Trust 193,939
Beis Aharon TT Activity Centre 20,136
Ben Amram Charitable Trust 10,301
Bnei Zion Community Nursery 28,112
Boinei Olam Limited 11,234
Care All Limited 16,645
Success Stories 23,475
Chasdei Aharon Limited 41,665
Chevras Mo'oz Ladol 122,242
Edupoor Ltd 53,028
ETC Youth Ltd 15,670
Ezer Bekovoid Limited 20,500
Friends of Yeshiva Luzern 22,727
Gitter Foundation Ltd 11,600
Kids in the Castle 10,000
Kollel Grocery 20,000
Kollel Pshevorsk 18,080
Kollel Shefa Chaim 22,560
Kollel Veyoel Moishe 39,470
Low Cost Living 17,500
Mesifta Talmudical College 17,864
Mosdos Bobov 12,616
PPC Trust 21,000
Sharei Chesed Beis Yisroel 16,892
String of Pearls 11,502
Support the Charity Worker 12,084
Beis Aharon Trust 16,515
Tchabe Kollel Limited 21,880
The Rehabilitation Trust 12,910
WST Charity Ltd 14,501
Yesamach Levav 25,135
Donations less than £10,000 418,889
Total 1,320,672

continued...

Page 14

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

8. SUPPORT COSTS

Other resources expended
Charitable
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Deficit on disposal of fixed assets		 Governance
Finance
costs
Totals
£
£
£
-
7,200
7,200
15,218
-
15,218
15,218
7,200
22,418
31.1.23
31.1.22
£
£
7,200
7,200
910,562
-		 Totals
£
7,200
15,218
22,418

9. NET INCOME/(EXPENDITURE)

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward		 Unrestricted
fund
£
1,711,939
276,943
1,988,882
267,111
1,639,652
12,929
1,919,692
69,190
4,721,705

Page 15

continued...

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
TOTAL FUNDS CARRIED FORWARD
12.
INVESTMENT PROPERTY
FAIR VALUE
At 1 February 2022
Disposals
At 31 January 2023
NET BOOK VALUE
At 31 January 2023
At 31 January 2022		 Unrestricted
fund
£
4,790,895
£
10,491,035
(1,458,212 )
9,032,823
9,032,823
10,491,035		 Unrestricted
fund
£
4,790,895

The investment properties were valued on an open market basis on 31 January 2021 by the trustees.

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Other creditors
Accrued expenses		 31.1.23
£
270,760
31.1.23
£
317
427,927
25,800
454,044		 31.1.22
£
270,760
31.1.22
£
-
1,366,428
18,600		 31.1.22
£
270,760
1,385,028

Page 16

continued...

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23 31.1.22
£ £
Bank loans (see note 16) 4,824,131 4,652,611

Included within creditors due after more than one year is the amount of £42,546 received under the Bounce Back Loan Scheme (BBLS). The loan is unsecured, guaranteed by the government, and attracts an interest rate of 2.5% after the interest free period in the first year.

16. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank overdrafts
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
Repayable otherwise than by instalments:
Bank loans more 5 yrs non-inst
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.2.22
£
4,790,895
4,790,895
Incoming
resources
£
2,908,092
2,908,092		 31.1.23
£
317
495,899
34,506
1,687,667
2,606,059
Net
movement
in funds
£
(700,714)
(700,714)
Resources
expended
£
(3,608,806 )
(3,608,806 )		 31.1.22
£
-
-
42,546
1,812,005
2,798,060
At
31.1.23
£
4,090,181
4,090,181
Movement
in funds
£
(700,714)
(700,714)

17. MOVEMENT IN FUNDS

continued...

Page 17

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.2.21
£
Unrestricted funds
General fund
4,721,705
TOTAL FUNDS
4,721,705
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,988,882
TOTAL FUNDS
1,988,882		 Net
movement
in funds
£
69,190
69,190
Resources
expended
£
(1,919,692 )
(1,919,692 )		 At
31.1.22
£
4,790,895
4,790,895
Movement
in funds
£
69,190
69,190

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.2.21
£
4,721,705
4,721,705		 Net
movement
in funds
£
(631,524)
(631,524)		 At
31.1.23
£
4,090,181
4,090,181

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
4,896,974
4,896,974		 Resources
expended
£
(5,528,498 )
(5,528,498 )		 Movement
in funds
£
(631,524)
(631,524)

continued...

Page 18

BC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2023.

Page 19