REGISTERED COMPANY NUMBER: 08366365 (England and Wales)

REGISTERED CHARITY NUMBER: 1155555

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 JANUARY 2024 TO 31 JANUARY 2025

FOR

BC TRUST

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

3

Statement of Trustees' Responsibilities

4

Report of the Independent Auditors

5

to

7

Statement of Financial Activities

8

Statement of Financial Position

9

Statement of Cash Flows

10

Notes to the Statement of Cash Flows

11

Notes to the Financial Statements

12

to

18

TRUSTEES

M Rothfeld (resigned 1.3.25)

B D Rudzinski

N Rudzinski

Y Y Silberstein (resigned 1.3.25)

B Bronner (appointed 1.3.25)

COMPANY SECRETARY

N Rudzinski

REGISTERED OFFICE

50 Wellington Avenue

London

N15 6BA

REGISTERED COMPANY NUMBER

08366365 (England and Wales)

REGISTERED CHARITY NUMBER

1155555

INDEPENDENT AUDITORS

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

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 period 30 January 2024 to 31 January 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activities of the charitable company in the period 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 period ended 29 January 2025 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.

Donations made

The charity provides donations to various institutions whose objectives align closely with its own and to individuals in need.

Volunteers

The charity is ran solely by volunteers and the Trustees, none of the charity's work was undertaken by paid employees in the period.

STRATEGIC REPORT

Achievements and performance

Charitable activities

During the period under review the charity received donations that amounted to £2,487,678 (2024: £2,538,862) and generated rental income totalling £380,289 (2024: £362,913).

Key Performance Indicators

The trustees monitor the charity’s performance against its charitable objectives on a regular basis. Performance is assessed against the objectives and expectations using financial and non-financial indicators. The key financial performance indicators used by the charity are funding, expenditure on charitable activities and net income.

Financial review

Principal funding sources

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

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.

As at 29.01.2025 the charity’s unrestricted funds were £3,526,411 (2024: £3,733,442).

Going concern

The trustees have a reasonable expectation that the charity has adequate resources and support to continue operational existence for the foreseeable future. For this reason, the charity has adopted the going concern basis of accounting in preparing the annual financial statements.

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.

Recruitment and appointment of new trustees

When appointing new trustees the current trustees apply suitable recruitment and training procedures.

Organisational structure

During the period there were four trustees who also acted as directors. They met on a regular basis to discuss the affairs of the charity. All decisions are based on a majority decision of the directors but in almost all cases the votes are unanimous.

In March 2025 two of the directors resigned (M Rothfeld & Y Silberstein) and a new director was appointed (B Bronner).

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. Systems of internal controls are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

The trustees pay particular attention to the financial sustainability. The trustees regularly review the available funding sources to ensure that the charity has sufficient funds to meet its short term working capital needs and sustainable funding sources to meet its mid to long term obligations.

The principle risks are financial including items such as loss of rental income received and decrease in donations received.

STREAMLINED ENERGY AND CARBON REPORTING

The trustees ensure that the activities of the charity are performed in a way that has as little damaging effect on the environment as possible.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 November 2025 and signed on the board's behalf by:

N Rudzinski - Trustee

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".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Opinion

We have audited the financial statements of BC Trust (the 'charitable company') for the period ended 31 January 2025 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'.

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 January 2025 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

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

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:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements. These included but were not limited to FRS 102, Charities Act 2011 and Companies Act 2006 as they affect the direct charitable activities of the charity.

- We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations.

- We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.

- We assessed the susceptibility of the charity's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation stages of our audit. Specific areas identified were the completeness of income and going concern.

- Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items. We performed appropriate audit testing on the recognition and completeness of income and management’s assessment of going concern.

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.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Malcolm Venitt (Senior Statutory Auditor)

for and on behalf of Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

28 November 2025

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

2,487,678

2,538,862

Investment income

4

380,603

362,913

Total

2,868,281

2,901,775

EXPENDITURE ON

Raising funds

5

434,368

678,939

Charitable activities

6

Charitable

2,633,744

2,120,072

Other

7,200

7,200

Total

3,075,312

2,806,211

NET INCOME/(EXPENDITURE)

(207,031

)

95,564

RECONCILIATION OF FUNDS

Total funds brought forward

3,733,442

3,637,878

TOTAL FUNDS CARRIED FORWARD

3,526,411

3,733,442

31.1.25

29.1.24

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investment property

11

9,032,823

9,032,823

CURRENT ASSETS

Debtors

12

6,000

6,000

Cash at bank

42,559

23,265

48,559

29,265

CREDITORS

Amounts falling due within one year

13

(560,888

)

(603,156

)

NET CURRENT ASSETS

(512,329

)

(573,891

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,520,494

8,458,932

CREDITORS

Amounts falling due after more than one year

14

(4,994,083

)

(4,725,490

)

NET ASSETS

3,526,411

3,733,442

FUNDS

17

Unrestricted funds:

General fund

3,526,411

3,733,442

TOTAL FUNDS

3,526,411

3,733,442

The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2025 and were signed on its behalf by:

B D Rudzinski - Trustee

N Rudzinski - Trustee

Cash flows from operating activities

Cash generated from operations

1

23,720

133,505

Interest paid

(273,333

)

(403,342

)

Net cash used in operating activities

(249,613

)

(269,837

)

Cash flows from investing activities

Interest received

314

-

Net cash provided by investing activities

314

-

Cash flows from financing activities

New loans in year

-

183,441

Loan repayments in year

268,593

29,405

Net cash provided by financing activities

268,593

212,846

Change in cash and cash equivalents in the reporting period

19,294

(56,991

)

Cash and cash equivalents at the beginning of the reporting period

23,265

80,256

Cash and cash equivalents at the end of the reporting period

42,559

23,265

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

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities)

(207,031

)

95,564

Adjustments for:

Interest received

(314

)

-

Interest paid

273,333

403,342

Increase in debtors

-

(6,000

)

Decrease in creditors

(42,268

)

(359,401

)

Net cash provided by operations

23,720

133,505

2.	ANALYSIS OF CHANGES IN NET DEBT

At 30.1.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank

23,265

19,294

42,559

23,265

19,294

42,559

Debt

Debts falling due within 1 year

(527,429

)

-

(527,429

)

Debts falling due after 1 year

(4,725,490

)

(268,593

)

(4,994,083

)

(5,252,919

)

(268,593

)

(5,521,512

)

Total

(5,229,654

)

(249,299

)

(5,478,953

)

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. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

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.

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 properties are 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. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

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

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

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Donations

2,487,678

2,538,862

4.	INVESTMENT INCOME

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Rents received

380,289

362,913

Deposit account interest

314

-

380,603

362,913

5.	RAISING FUNDS

Raising donations and legacies

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Fund raising events

23,222

46,604

Investment management costs

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Management commissions

-

7,795

Property repairs

70,510

67,554

Legal and professional fees

3,536

2,606

Insurance

3,461

3,297

Utilities

-

1,539

Office expenses

32,765

146,202

Travel expenses

3,240

-

Conference room

9,000

-

Gifts and bonuses

2,951

-

Refreshments and snacks

12,350

-

Interest payable and similar charges

273,333

403,342

411,146

632,335

Aggregate amounts

434,368

678,939

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Charitable

2,631,874

1,870

2,633,744

7.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Other resources expended

-

7,200

7,200

Charitable

1,870

-

1,870

1,870

7,200

9,070

8.	AUDITORS' REMUNERATION

Period

Period

30.1.24

31.1.23

to

to

31.1.25

29.1.24

£

£

Fees payable to the charity's auditors for the audit of the charity's financial statements

7,200

7,200

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 January 2025 nor for the period ended 29 January 2024.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 January 2025 nor for the period ended 29 January 2024.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2,538,862

Investment income

362,913

Total

2,901,775

EXPENDITURE ON

Raising funds

678,939

Charitable activities

Charitable

2,120,072

Other

7,200

Total

2,806,211

NET INCOME

95,564

RECONCILIATION OF FUNDS

Total funds brought forward

3,637,878

TOTAL FUNDS CARRIED FORWARD

3,733,442

11.	INVESTMENT PROPERTY

£

FAIR VALUE

At 30 January 2024

and 31 January 2025

9,032,823

NET BOOK VALUE

At 31 January 2025

9,032,823

At 29 January 2024

9,032,823

Fair value at 31 January 2025 is represented by:

£

Valuation in 2017

1,918,159

Valuation in 2019

7,114,664

9,032,823

If investment properties had not been revalued they would have been included at the following historical cost:

31.1.25

29.1.24

£

£

Cost

7,114,664

7,114,664

Aggregate depreciation

(1,070,462

)

(1,070,462

)

Investment properties were valued on a fair value basis on 29 January 2025 by the trustees .

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

29.1.24

£

£

Other debtors

6,000

6,000

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

29.1.24

£

£

Bank loans and overdrafts (see note 15)

527,429

527,429

Other creditors

19,059

61,327

Accrued expenses

14,400

14,400

560,888

603,156

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

31.1.25

29.1.24

£

£

Bank loans (see note 15)

4,994,083

4,725,490

Creditors include a Bounce Back loan totalling £27,321 (2024: £31,333). The loan is unsecured, interest is capped at 2.5% and the loan is 100% guaranteed by the Government.

15.

LOANS

An analysis of the maturity of loans is given below:

31.1.25

29.1.24

£

£

Amounts falling due within one year on demand:

Bank loans

527,429

527,429

Amounts falling between one and two years:

Bank loans - 1-2 years

527,429

527,429

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,584,874

1,557,554

Amounts falling due in more than five years:

Repayable by instalments:

Bank loans more 5 yr by instal

811,626

570,353

Repayable otherwise than by instalments:

Bank loans more 5 yrs non-inst

2,070,154

2,070,154

16.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

29.1.24

£

£

Bank loans

5,494,191

5,221,586

The bank loans are secured by personal guarantees and multiple first legal charges over the charity's investment properties. The bank loans bear interest at variable rates.

17.	MOVEMENT IN FUNDS

Net

At

movement

At

30.1.24

in funds

31.1.25

£

£

£

Unrestricted funds

General fund

3,733,442

(207,031

)

3,526,411

TOTAL FUNDS

3,733,442

(207,031

)

3,526,411