**RENAISSANCE PUBLISHING A company limited by guarantee** **RENAISSANCE PUBLISHING (A company limited by guarantee)** **Annual Report and Accounts** **For the year ended 31 July 2021 Registered Charity Number: 1152871 Company Number: 04245529** ## **RENAISSANCE PUBLISHING A company limited by guarantee** ||**Page**| |---|---| |Trustees’ Annual Report|1-3| |Independent Examiner’s Report|4| |Statement of Financial Activities (including the income and expenditure account)|
5| |Balance Sheet
|6| |Notes to the Financial Statements|7 - 13| ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Legal and Professional Information** ## **Registered Charity Number:** 1152871 **Company Number:** 04245529 ## **Governing Document** Articles of Association ## **President** David Dangoor **Trustees** Ian Lancaster Chair Martin Motz Brian Harris Treasurer Judy Weleminsky Lady Collins Patti Langton David Benmayer (Appointed 1 August 2020) **Chairman** Ian Lancaster **Chief Executive** Aviva Dautch David Benmayer (Resigned 31 July 2020) ## **Secretary** Judy Weleminsky ## **Registered Office** 353 - 359 Finchley Road London NW3 6ET ## **Independent Examiner** WSM Advisors Limited Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY ## **Bankers** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ **RENAISSANCE PUBLISHING A company limited by guarantee** ## **TRUSTEES’ ANNUAL REPORT For the Year ended 31 July 2021** The trustees, who are also directors, present their Annual Report together with the Financial Statements for the year ended 31 July 2021. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". ## **Reference and Administrative Details** Renaissance Publishing is a company limited by guarantee (registration number 04245529) and is a registered by the Charity Commission under registration number 1152871. ## **Structure, Governance and Management** Renaissance Publishing is a registered charity and company limited by guarantee. Renaissance Publishing is governed by its Memorandum and Articles of Association and by the regulations of the Charity Commission and Company Law. The following trustees (who are also the directors of the company for the purposes of company law) have held office since 1 August 2020 except as indicated: Ian Lancaster Martin Motz Judy Weleminsky Brian Harris Lady Collins Patti Langton David Benmayer (Appointed 1 August 2020) Renaissance Publishing governance structure consists of the Board of Trustees. The Trustees may also from time to time appoint sub committees and they also appoint the Company Secretary. The Board of Trustees direct the affairs of Renaissance Publishing, provide leadership, fulfil their fiduciary duty and are involved in the endorsement of policy and in monitoring its implementation. The Board meets quarterly. The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee provided that the appointment does not cause the number of trustees to exceed any number fixed by or in accordance with the articles as the maximum number of trustees. A trustee so appointed shall hold office only until the next following annual general meeting and shall not be taken into account in determining the trustees who are to retire by rotation at the meeting. If not reappointed at such annual general meeting, he or she shall vacate office at the conclusion thereof. No person other than a trustee retiring by rotation may be appointed or re-appointed as a trustee at any general meeting unless: - (1) he or she is recommended by the trustees; or - (2) no fewer than fourteen (14) nor more than thirty-five (35) days before the date of the meeting, the charity is given a notice that: - (a) is signed by a member entitled to vote at the meeting; - (b) states the member’s intention to propose the appointment of a person as a trustee; - (c) contains the details that, if the person were to be appointed, the charity would have to file at Companies House; and - (d) is signed by the person who is to be proposed to show his or her willingness to be appointed. On appointment to the board the trustees receive the Renaissance Publishing Governance Handbook which outlines the structure and responsibilities of the Trustees and the Mission and Policy Statement. Where a gap in trustee expertise is identified at a trustee meeting the Board of Trustees recruits a new trustee. The requirement is advertised within the subscription list of Renaissance Publishing and externally. A sub committee interviews a short list of applicants and their proposed choice is ratified by the Board of Trustees. Page 1 of 12 **RENAISSANCE PUBLISHING A company limited by guarantee** ## **TRUSTEES’ ANNUAL REPORT (cont.) For the Year ended 31 July 2021** ## **Objectives and Activities** The objectives of Renaissance Publishing are to advance the education of the public on issues related to Jewish culture, arts, heritage, history, religion and community by promoting, publishing and distributing literature, publications, articles and information and by organising educational and cultural activities including lectures, discussions, learning events and cultural and educational tours. The main activity is the production and distribution of Jewish Renaissance magazine and Renaissance Publishing also runs events and tours. ## **Public Benefit** The Trustees have adhered to the Charity Commission’s guidance on public benefit. Renaissance Publishing is a major disseminator of Jewish culture to the Jewish and wider community. This is achieved by publication of a quarterly magazine with articles and comprehensive UK & international listings that is freely available through our website and social media channels. We also engage the public with our events and UK and overseas tours. Whilst tours have not been active during the current period, there are plans to resume Tours post Covid-19. ## **Achievements and Performance** As I write this report on Renaissance Publishing’s 2020/21 year, we are entering the 20th anniversary year of the Jewish Renaissance magazine. It is a time for celebration, reflection and most importantly for looking forward, although this report, of course, looks back. In her first full year, Dr Aviva Dautch, our Chief Executive, has brought a fresh and knowledgeable perspective to the role of CEO. She has worked closely with our magazine editor, Rebecca Taylor, and associate editor, Danielle Goldstein, to cope with the turbulence of Covid-19 by running events online to highlight and expand upon significant articles in the magazine as well as supplementing our print offering with additional digital content. We were delighted that the author’s family and estate asked us to be the first to publish Trio, a newly discovered short story by Nobel laureate Isaac Bashevis Singer. This demonstrates how Jewish Renaissance is now perceived and respected as a leading Englishlanguage magazine of Jewish arts and culture. To launch the issue in which the story was featured, we ran a panel on Zoom with leading international Yiddish scholars and an abridged version of the story was performed by award-winning actress and audio-book narrator Juliet Stevenson. Another online event, celebrating the centenary of Paul Celan, starred actor Henry Goodman and the prizewinning Canadian writer Anne Michaels, among others. Podcasts and magazine articles have featured interviews with world-class filmmakers, theatre-directors, musicians, artists, actors, poets and novelists, and we have also commissioned articles from a significantly more prestigious roster of writers. Trio marked the first of our Long Reads, an occasional addition of an extended article or feature to Jewish Renaissance, for which we hope to win sponsorship on a case-by-case basis; this first Long Read was sponsored by the Benmayer family. Our growing recognition within the international Jewish world has been enhanced by the partnerships and collaborations that Aviva and her team have facilitated. Online events have taken place about Prague, Ireland and the USA, with participation from key cultural organisations in each location, most notably the new Capital Jewish Museum in Washington DC. We have also collaborated with many of the leading British Jewish cultural organisations, including the Association of Jewish Refugees, B’nei B’rith UK, Chaplaincy, Insiders/Outsiders, Jewish Book Week, the Jewish Music Institute, JW3, the London School of Jewish Studies, the Jewish Small Communities Network, Sephardi Voices UK, the UK Jewish Film Festival as well as the Willesden Jewish Cemetery. We also partnered with the Lyons Learning Project (LLP) to run several events, culminating in an international course on Black and African Jewish Experience. This was such a positive experience that we will continue to work closely with them and, in 2021/2022, will be managing their events’ programme as part of our JR cultural offering. This is a hugely exciting opportunity for us and the LLP’s financial support will be key to allowing us to continue to be ambitious. Magazine subscription increased by 26% to £58,000 from £46,000 in 2020/21. This includes a number of two and three year subscriptions, which shows a commitment to the future of the magazine. The increase was generated by the online events, increased digital outreach and the publication of a Jubilee issue of The Scribe, a magazine founded by Sir Naim Dangoor in 1971. It was our honour and a pleasure to work with Natasha Dangoor, his great niece, who edited this celebratory issue. One of the most pleasing things is that many of our new subscribers are significantly younger than our current audience, demonstrating our future viability as we move forward. Page 2 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **TRUSTEES’ ANNUAL REPORT (cont.) For the Year ended 31 July 2021** We remain grateful for the support and encouragement of the Dangoor Foundation and other supporters and donors. I cannot thank them enough. Nonetheless, partly due to the pandemic’s impact on our tour and advertising income, we have again had to draw on our reserves this year, a situation I hope will be corrected in the current year. The 20th anniversary will provide the focus for a significant fundraising campaign. Income from charitable activities increased from £56,201 in 2019/20 to £68,705 in 2020/21. Donations increased from £117,183 in 2019/20 to £136,783 in 2020/21, again arising from the raised commitment by our major sponsor Dangoor Education. Expenditure for the year increased from £192,711 in 2019/20 to £222,179 in 2020/21. Net expenditure for the year decreased from a deficit of £19,233 in 2019/20 to a £15,686 deficit in 2020/21. Our achievements and magazine content have reached new heights with each issue. This is made possible by the efforts of our wonderful editorial and design team. They are ably led by Rebecca Taylor, Editor, supported by Danielle Goldstein, Associate Editor and Content Manager, and Becky Redman, Creative Director; newcomers, Emma Brand, LLP Programme Producer and Betsy Cohen, Intern, together with our talented and committed editorial committee and of course, our writers and illustrators. Finance Manager Lorraine Sheridan and Operations Manager Dani Silver have cheerfully and competently kept pace with our expansion and are currently being assisted by Ruth Bankover, to cover Dani’s maternity leave. We are fortunate to be blessed with such a good team and thank them all profusely. I must also mention the commitment of my fellow Trustees: our Treasurer Brian Harris, as well as Judy Weleminsky, Lady Patti Collins, David Benmayer and Martin Motz. It is a pleasure to work with them and I thank them unreservedly for their willingness and good humour. ## **Reserves Policy** The Trustees have adopted a reserves policy that the charity’s reserves shall cover necessary costs and commitments during an unforeseen period of difficulty. The Trustees aim to maintain or hold the level of reserves equivalent to three months of expenditure. This matches the quarterly commitment of expenditure on the publication of the magazine, our principal activity. At this level the Trustees feel they will be able to continue the current activities of the charity in the event of a significant drop in funding. ## **Risk Assessment** Risk management is reviewed regularly by staff. The Trustees have identified the main risks to which the charity is exposed and have taken steps to mitigate them. The Trustees report was approved by the Board of Trustees. Ian Lancaster Chairman Date: 7[th] February 2022 Page 3 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Independent Examiner's Report to the Trustees of Renaissance Publishing Limited** I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2021 which are set out on pages 5 to 12. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I 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. Wendy Patterson FCA WSM Advisors Limited Chartered Accountants Connect House 133-137 Alexandra Road London SW19 7JY **Date:** 7[th] February 2022 Page 4 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Statement of Financial Activities including Income and Expenditure Account for the year ended 31 July 2021** |**Note**
**Income From**
Donations
**2**
Investment income
**3**
Charitable activities
**4**
**Expenditure on:**
Charitable activities and Governance Costs
**5**
**Total Resources Expended**
**6**
**Net Income (Expenditure) for the year**
**Transfer between Funds**
**12/13**
**Reconciliation of Funds**
Total Funds Brought Forward
**Total Funds Carried Forward**|**Unrestricted Restricted Total Funds Total Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
136,783
0
136,783
117,183
5
0
5
94
68,705
0
68,705
56,201| |---|---| ||205,493
0
205,493
173,478| ||221,179
0
221,179
192,711| ||221,179
0
221,179
192,711| ||(15,686)
0
(15,686)
(19,233)
0
0
0
0
47,644
0
47,644
66,877| ||31,958
0
31,958
47,644| All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. Page 5 of 12 ## **RENAISSANCE PUBLISHING A company limited by guarantee** ## **Balance sheet at 31 July 2021** |**Balance sheet at 31 July 2021**|||||| |---|---|---|---|---|---| ||**Notes**|**2021**|**2021**|**2020**|**2020**| |||**£**|**£**|**£**|**£**| |**Current assets**|||||| |**Debtors**|||||| |Debtors|**10**|2,830||1,542|| |Cash at bank and in hand||39,143||58,637|| |||41,973||60,179|| |**Creditors**: amounts falling due within 1 year|**11**|10,015||12,535|| |**Net current assets**|||31,958||47,644| |**Total assets less current liabilities**|**13**||31,958||47,644| |**Incoming Funds**|||||| |Unrestricted Funds|**12**||31,958||47,644| ||**13**||31,958||47,644| For the year ending 31 July 2021, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees’ responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. These financial statements were approved by the Board of Trustees on 7[th] February 2022 and signed on their behalf by: Ian Lancaster Trustee Company registration number: 04245529 Page 6 of 12 **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Notes to the accounts for the year ended 31 July 2021** ## **1. Accounting policies** ## **Charity information** Renaissance Publishing is a private company limited by guarantee incorporated in England and Wales. The registered office is 353-359 Finchley Road, London NW3 6ET. The company is also a registered charity with registration number 04245529. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principle accounting policies adopted are set out below: ## **1.2 Going concern** At the time of approving the accounts, the Board of Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Board of Trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **1.3 Tangible fixed assets** A review of tangible fixed assets, initially capitalised at cost has been made and it has been found that they have all been disposed of or replaced over the years by items that have been treated as revenue expenditure and they were disposed of from the accounts. ## **1.4 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.5 Financial instruments** The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Page 7 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Notes to the accounts for the year ended 31 July 2021** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. ## **1.6 Fund Accounting** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.7 Incoming resources** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measure reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions can be met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Investment income (bank interest) is earned through holding deposit accounts. Interest income is recognised when the charity's right to receive the interest is established. ## **1.8 Resources expended** All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: (i) Raising funds - fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. (ii) Charitable activities – all expenditure relating to the objectives of the charity (iii) Governance costs- include independent examiners fees and legal advice for Trustees and any other costs associated with constitutional and statutory requirements. ## **1.9 Support Costs** The amounts disclosed under each of the above categories comprise those costs which are directly attributable to that category together with an apportionment of support costs. Support costs are those costs that are not directly attributable to a single activity but provide the necessary organisational support for all the charity's activities and are allocated to activities on a basis consistent with use of the resource. The support costs have been allocated to each of the charity's activities according to its purpose. ## **1.10 Pension policy** Employee pension contribution scheme payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Page 8 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Notes to the accounts for the year ended 31 July 2021** ## **2 Donations** |**2 Donations**|| |---|---| |**Donations**
Donations and Sponsorship
**Gifts**
Gift Aid income tax repayments
Grants Receivable|**Unrestricted Restricted Total Funds Total Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
134,233
0
134,233
115,097
2,550
0
2,550
592
0
0
0
1,494| ||136,783
0
136,783
117,183| Grants Receivable of £0 (2020 £1,494) from the Shoresh Foundation was for general purposes. |**3 Investment Income**
Bank interest receivable
**4 Income from charitable activities**
Advertising Income
Magazine subscriptions, sales and App
Events
Tour Income|**Unrestricted Unrestricted**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
5
94
**Unrestricted Restricted Total Funds Total Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
3,802
0
3,802
6,080
58,211
0
58,211
46,456
6,692
0
6,692
0
0
0
0
3,665|**Unrestricted Unrestricted**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
5
94| |---|---|---| ||68,705
0
68,705
56,201|| Page 9 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Notes to the accounts for the year ended 31 July 2021** **5 Expenditure on charitable activities.** |**Costs directly allocated to activities**
Marketing
Magazine Printing costs
Editorial
Illustrations
Contributor costs
Website
Application
Events
Magazine design
**Magazine Production**
**Support costs allocated to activities**
Staff costs
Rent
Telephone & IT
Subscription services
Accountancy costs
Sundries
**Support Costs**
Independent Examiners Fee|**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
0
0
0
739
18,159
0
18,159
11,902
27,973
0
27,973
27,210
9,196
0
9,196
5,654
11,457
0
11,457
8,456
31,462
0
31,462
24,571
1,225
0
1,225
846
0
0
0
-
12,471
0
12,471
8,952| |---|---| ||111,943
0 111,943
88,330
79,819
0
79,819
86,292
3,644
0
3,644
3,600
11,559
0
11,559
4,074
10,578
0
10,578
8,295
193
0
193
193
1,835
0
1,835
367| ||107,628
0 107,628 102,821
1,608
0
1,608
1,560| ||| ||221,179
0 221,179 192,711| Page 10 of 12 ## **RENAISSANCE PUBLISHING** ## **A company limited by guarantee** ## **Notes to the accounts for the year ended 31 July 2021 6 Total Expenditure** |**6 Total Expenditure**|||||| |---|---|---|---|---|---| ||**Advertising**|**Magazine Other costs**||**Total**|**Total**| |||**Production**||**2021**|**2020**| ||**£**|**£**|**£**|**£**|**£**| |Advertising|0|0|0|0|0| |Marketing|0|0|0|0|739| |Magazine Printing costs|0|18,159|0|18,159|11,902| |Editorial|0|27,973|0|27,973|27,211| |Illustrations|0|9,196|0|9,196|5,654| |Contributors|0|11,457|0|11,457|8,456| |Website|0|31,462|0|31,462|24,571| |App|0|1,225|0|1,225|845| |Magazine design|0|12,471|0|12,471|8,952| |Governance costs|0|0|1,608|1,608|1,560| |Support costs|0|107,628|0|107,628|102,821| ||**0**|**219,571**|**1,608**|**221,179 **|**192,711**| Governance costs includes payment to the independent examiner of £1,608 (2020 £1,560) ## **7 Trustees remuneration and reimbursed expenses** No trustee was remunerated or reimbursed for their expenses during the year, (2020 nil). |**8 Staff Costs**
Salaries
Social Security
Pensions|**2021**
**2020**
**£**
**£**
120,799 115,168
10,505
9,902
2,460
2,346| |---|---| ||133,764 127,416| The average number of employees during the year was as follows: |Administration
Editorial
Managerial|**2021**
**2020**
1
2
2
2
1
1| |---|---| ||4
5| The company paid emoluments of £52,083 (2020 £60,160) and pension contributions of £1,291 (2020 £1,449) in the year for the key management members of staff. No employee received emoluments of more that £60,000 during the year (2020 nil). ## **9 Taxation** The charitable company is exempt from corporation tax on it's charitable activities. Page 11 of 12 ## **RENAISSANCE PUBLISHING A company limited by guarantee** **Notes to the accounts for the year ended 31 July 2021** |**10 Debtors**
Trade debtors
Other debtors
**11 Creditors: amounts falling due within one year**
Trade creditors
Accruals
Deferred income
Other taxation and social security|**2021**
**2020**
**£**
**£**
550
350
2,280
1,192
2,830
1,542
**2021**
**2020**
**£**
**£**
402
1,458
1,560
4,734
5,252
3,876
2,801
2,467
10,015
12,535| |---|---| Deferred income includes £3,276 relating to year ended 31 July 2022 and £1,976 to year ended 31 July 2023. |**12 Unrestricted funds**
General fund:
At 1st August 2020
Income
Expenditure
At 31 July 2021|**2021**
**2020**
**£**
**£**
47,644
66,877
205,493
173,478
(221,179)
(192,711)
31,958
47,644| |---|---| The general fund represents the free funds of the charity which are not designated for particular purposes. ## **13 Analysis of net assets between funds** |Current assets
Creditors: amounts falling due within one year
Total Funds|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2020**
**£**
**£**
**£**
41,973
0
41,973
(10,015)
0
(10,015)| |---|---| ||31,958
0
31,958| ## **14 Share capital and controlling parties** The company is limited by guarantee and has no share capital. The liability of its members is limited to £1 per member. ## **15 Related party transactions** There were no related party transactions during the year. Page 12 of 12