##
|||Page|
|---|---|---|
|Report ofthe|Trustees|1 to 5|
|Report ofthe|Independent
Auditors|6 to 7|
|Consolidated|Statement of Financial Activities||
|Consolidated|Balance Sheet||
|Company
Balance Sheet|||
|Cash Flow Statement|||
|Notes to the|Cash Flow Statement|12|
|Notes to the|Financial Statements|13to 28|
##
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##
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##
##
##
##
##
|||f|orthe
ear e|nded 30June 20|20|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||2020||2019|
|||||Unrestricted|Restricted|Total|funds|Total|funds|
|||||funds|funds|||||
||||Notes|6||||||
|INCOME AND ENDOWMENTS||FROM||||||||
|Donations
and legacies|||2|10,137|256,712||266,849||84,466|
|Charitable
activities||||||||||
|Education|||4|874,643|||874,643||909,868|
|Investment
income|||3|386|||386||47|
|Trading
income|||21|215,000|||215,000||545,000|
|Other income|||5|856672|||956,672||5,580|
|Total||||2,056,838|256,712|2,313,550||1,544,961||
|EXPENDITURE ON||||||||||
|Subsidiary's
trading|activities||21|225,972|||225,972||507,563|
|Charitable
activities|||6|||||||
|Education||||942,976|105,068|1,048,044|||988,932|
|Bank loan interest|||||||||9,876|
|Total||||1,168,948|105,068|1,274,016||1,506,371||
|NET INCOME/(EXPENDITURE)||||887,890|151,644|1,039,534|||38,590|
|Transfers
between|funds||18|27,881|(27,881)|||||
|Net movement
in funds||||915,771|123,763|1,039,534|||38,590|
|RECONCILIATION|OF FUNDS|||||||||
|Total funds brought|forward|||1,529,765|58,719|1,588,484||1,549,894||
|TOTAL FUNDS CARRIED FORWARD||||2,445 536|182.482|2,628,518||1,588,484||
##
##
||A~I|D 2
2D2D|||||
|---|---|---|---|---|---|---|
|||||2020||2019|
|||Unrestricted|Restricted|Total
funds|Total|funds|
|||funds|funds||||
||Not||F||||
||es||||||
|FIXEDASSETS|||||||
|Tangible assets|13|2,252,039||2,252,039|2,252,125||
|Investments|14|12,267||12,267||12267|
|||2,264,306||2,264,306|2,264,392||
|CURRENT ASSETS|||||||
|Stocks|15|862,741||862,741||23,204|
|Debtors
Cash at bank and in hand|16|37,118
374629|145,270
~37 212|182,388
~411 841||132,388
385,435|
|||1,274,488|182,482|1,456,970||541,027|
|CREDITORS|||||||
|Amounts
falling due within one year|17|(311,292)||(311,292)|(388,534)||
|NET CURRENT ASSETS||963,196|182,482|1,145,678||152,493|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES||3,227,502|182,482|3,409,984|2,416,885||
|PENSION LIABILITY|19|(781,966)||(781,966)||(828,401)|
|NET ASSETS||2,445,536|~182 482|2,628,018|~1,588484||
|FUNDS|18||||||
|Unrestricted
funds
Restricted funds||||2,445,538
~182482|1,529,765
~58719||
|TOTAL FUNDS||||2,628,018|1,588.484||
##
##
|||At|30June 2020|||||
|---|---|---|---|---|---|---|---|
||||||2020||2019|
||||Unrestricted|Restricted|Total
funds|Total|funds|
||||funds|funds||||
|||Not|6|||||
|||es||||||
|FIXEDASSETS||||||||
|Tangible assets
Investments||13
14|2,252,039
12268||2,252,039
~12268|2,252,125
12268||
||||2,264,307||2,264,307|2,264,393||
|CURRENT ASSETS||||||||
|Stocks||15|24,830||24,830||23,204|
|Debtors
Cash at bank and|in hand|16|1,240,924
~3953|145,270
37,212|1,386,194
41,165||335,706
177336|
||||1,269,707|182,482|1,452,189||536,246|
|CREDITORS||||||||
|Amounts
falling due within one year||17|(306,512)||(306,512)|(383,754)||
|NET CURRENT ASSETS|||~963 195|182,482|1,145,677||152,492|
|TOTAL ASSETS|LESSCURRENT|||||||
|LIABILITIES|||3,227,502|182,482|3,409,984|2,416,885||
|PENSION LIABILITY||19|(781,966)||(781,966)|(828,401)||
|NET ASSETS|||2,445,336|182,482|2,628,018|1,588,484||
|FUNDS||18||||||
|Unrestricted
funds|||||2,445,536|1,529,765||
|Restricted funds|||||182,482||58,719|
|TOTAL FUNDS|||||2,628,018|1,588,484||
##
||||EMERSON COLLE
ETRUST LIMITED|EMERSON COLLE
ETRUST LIMITED|EMERSON COLLE
ETRUST LIMITED||
|---|---|---|---|---|---|---|
||||CONSOLIDATED CASH FLOthf STATEMENT||||
||||for|the|ear ended 30June 2020||
||||||2020|2019|
||||||Notes|8|
|Cash flows from|operating||activities:||||
|Cash generated
from operations|||||109,522|531,251|
|Interest paid||||||~9876)|
|Net cash provided||by (used in) operating|||||
|activities|||||109,522|521,375|
|Cash flows from|investing||activities:||||
|Purchase
oftangible||fixed assets|||(83,502)|(23,031)|
|Interest received|||||386|47|
|Net cash provided||by (used in) investing|||(83,116)|(22,984)|
|activities|||||||
|Cash flows from|financing||activities:||||
|Loan repayments|in|year||||(300,000)|
|Net cash provided||by (used in) financing|||||
|activities||||||(300,000)|
|Change
in cash|and cash||equivalents|in the|||
|reporting
period|||||26,406|198,391|
|Cash and cash equivalents|||at the beginning||||
|ofthe reporting|period||||385,435|187,044|
|Cash and cash|equivalents||at the end|ofthe|||
|reporting
period|||||411,841|3~85 435|
##
##
##
|RECONCILIATION|OF NET INCOME/(EXPE|NDITURE)
TO NET CAS
ACTIVITIES|H FLOW FROM
OP|ERATING|
|---|---|---|---|---|
||||2020|2019|
||||6|6|
|Net income/(expenditure)
for the reporting||period (as per the|||
|statement
offinancial activities)|||1,039,534|38,500|
|Adjustments
for:|||||
|Depreciation
charges|||37,388|44,797|
|Interest received|||(386)|(47)|
|Interest paid||||9,876|
|Movement
in non current
liabilities|||(46,435)|(43,448)|
|(Increase)/decrease|in stocks||(793,337)|473,835|
|(Increase)/decrease|in debtors||(50,000)|(25,609)|
|Increase/(decrease)|in creditors||~77,242|33,257|
|Net cash provided|by (used in) operating|activities|109,522|531,251|
##
##
##
##
##
##
##
|Depreciation
is provided
at the following
annua|l
rates in order to write offeach asse|t over its estim|ated
useful
life.|
|---|---|---|---|
|Freehold
property|-1%on cost|||
|Shortleasehold|- Over the life-time ofthe 7years lease|||
|Machinery
and office equipment|-20-25% on reducing
balance|||
|Fixtures and fittings|-25%on reducing
balance|||
|Library Books|- 15-25%on reducing
balance|||
|Assets costing 6750 or more are capitalised.|All other assets under this amount|are expensed|to the income and|
##
##
##
##
##
##
##
##
##
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
||||Activity|6|6|
|Student|fees||Education|236,157|210,130|
|Student|boarding|&Catering|Education|389,289|448,653|
|Other income|||Education|73,999|40,182|
|Venue|hire & rental income||Education|175,198|~210 903|
|||||874,643|909868|
##
##
##
##
##
||||Direct costs|Support costs|Totals|
|---|---|---|---|---|---|
||||(See note 7)|(See note 8)||
||||6|||
|Education|||775,341|~272 703|1,048,044|
|DIRECT COSTS OF CHARITABLE ACTIVITIES||||||
|||||2020|2019|
||||||5|
|Staff costs||||423,843|418,309|
|Tutor Fees||||96,608|113,189|
|Tutor accommodation||& material||28,213|28,323|
|Provisions|and household|||64,919|80,069|
|Garden costs||||1,489|2,200|
|Library and|Bookshop|materials||12,708|10,583|
|Repairs and maintenance||||42,900|31,905|
|Bad Debts||||870||
|Pixton Third Age Project||||103,791||
|||||~775 341|684,578|
|SUPPORT|COSTS|||||
|||||Governance||
||||Management|costs|Totals|
||||5|8||
|Education|||259,401|13,302|~272 703|
##
##
##
##
|Management||||||
|---|---|---|---|---|---|
|||||2020|2019|
|||||Education|Total activities|
|||||8||
|Trustees' expenses||||596|1,104|
|Rates and water||||35,359|40,755|
|Insurance||||18,115|17,607|
|Light and heat||||50,151|56,142|
|Telephone,
internet
&copier||||3,665|3.321|
|Postage and stationery||||745|870|
|Advertising
& publicity||||11,315|18,795|
|Office equipment
and|IT|||25,802|22,832|
|Pension deficit Michael||Hall|||1,762|
|Pension
deficit administration||||13,191|12,563|
|Pension
deficit finance||costs||34,634|36,306|
|Pension
Levy||||9,804|11,613|
|Professional fees||||4,670|7,697|
|Travel &other costs||||1,945|2,862|
|Membership
Fees||||2,522|3,055|
|Bank &other charges||||9,499|12,005|
|Depreciation
oftangible||and heritage assets||37,388|44,795|
|||||259,401|294,084|
|Governance costs||||||
|||||2020|2019|
|||||Education|Total activities|
|||||f|f|
|Auditors'
remuneration||||7,000|6,000|
|Auditors'
remuneration||for|non audit work|6,302|4,270|
|Legal &professional|fees|||||
|||||13,302|10,270|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)|||is stated after charging/(crediting):|||
|||||2020|2019|
|||||8|5|
|Auditors'
remuneration||||7,000|6,000|
|Other non-audit
services||||6,302|4,270|
|Depreciation
- owned|assets|||~37 388|44,797|
##
##
##
##
##
##
|Trustees' expenses|||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||8|8|
|Trustees' expenses|||||596|1,104|
|Trustees' expenses|relate to|travel and subsistence||for three trustees.|||
|STAFF COSTS|||||||
||||||2020|2019|
||||||5||
|Wages and salaries|||||430,572|418,843|
|Social security costs
Other pension costs|||||28,681
6,726|24,159
~4614|
||||||~465 979|447,616|
|The average
monthly|number|of employees|during|the year was as follows:|||
||||||2020|2019|
|Teaching
andadmin|istration||||18|18|
##
##
##
||||Unrestricted|Restricted|Total|funds|
|---|---|---|---|---|---|---|
||||funds|funds|||
||||5||||
|INCOME|AND ENDOWMENTS|FROM|||||
|Donations|and legacies||51,848|32,618||84,466|
|Chadtable|activities||||||
|Education|||909,570|298||909,868|
|Investment|income||47|||47|
|Trading
income|||545,000|||545,000|
|Other income|||5 580|||5,580|
|Total|||1,512,045|32,916|1,544,961||
##
##
||NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS - CONT
f~lh
d
d 30 3
2020|NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS - CONT
f~lh
d
d 30 3
2020|NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS - CONT
f~lh
d
d 30 3
2020|NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS - CONT
f~lh
d
d 30 3
2020|INUED|||
|---|---|---|---|---|---|---|---|
|12.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|||||||
|||||Unrestricted|Restricted|Total|funds|
|||||funds|funds|||
||||||f|||
||EXPENDITURE ON|||||||
||Chadtable
activities|||||||
||Education|||982,751|6,181||988,932|
||Bank loan interest|||9,876|||9,876|
||Subsidiary's
trading||activities|507,563|||507 503|
||Total|||1,500,190|6,181|1,506,371||
||NET INCOME/(EXPENDITURE)|||11,855|26,735||38,590|
||RECONCILIATION|OF FUNDS||||||
||Transfers
between||funds|41,740|(41,740)|||
||Total funds brought||forward|1,476,170|73,724|1,549,894||
||TOTAL FUNDS CARRIED FORWARD|||1,529,765|58,719|1,588,484||
##
##
##
|TANGIBLE FIXEDASSETS (GROUP AND C|OMPANY)||||
|---|---|---|---|---|
|||||Machinery
and|
||Freehold||Short|office|
||property||leasehold|equipment|
|COST|||||
|At 1 July 2019|2,577,463||77,000|163,946|
|Additions
Disposals|17,097
~105000|||1,835|
|At 30June 2020|2,489,560||77,000|16~ 701|
|DEPRECIATION|||||
|At1 July2019
Charge for year
Eliminated
on disposal|354,776
25,798
~50 QDD||72,200
4,800|149,545
3,946|
|At 30June 2020|321 774||77,DDQ|153491|
|NET BOOK VALUE|||||
|At 30June 2020|2.167,706|||12 201)|
|At 30June 2019|2 222 607|.|4,0DQ|14,4DI|
||Fixtures and||||
||fittings
6|Library Books
f||Totals
6|
|COST|||||
|At1 July2019|302,091||16,848|3,137,348|
|Additions
Disposals|64,570|||83,502
~105000)|
|At 30June 2020|366,661||16,848|3,115,850|
|DEPRECIATION|||||
|At 1 July 2019|291,874||16,828|885,223|
|Charge for year
Eliminated
on disposal|2,824||20|37,388
~58,000)|
|At 30June 2020|294 698||16848|863,811|
|NET BOOK VALUE|||||
|At 30June 2020|71 963||.|2 252 039|
|At 30June 2019|10217||20|2252128|
##
##
##
##
||Listed|
|---|---|
||investments|
||8|
|MARKET VALUE||
|At 1 July 2019 and 30June 2020|12,267|
|NET BOOK VALUE||
|At 30June 2020|12,267|
|At 30June 2019|~12 267|
||There were no investment
assets outsi|There were no investment
assets outsi|There were no investment
assets outsi|There were no investment
assets outsi|There were no investment
assets outsi|de|the UK|.||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Emerson College holds 265 Depository||||||Receipts|in Triodos|Bank NV.|||||
||The charitable|company's||investment||at|the Balance Sheet||date includes|the 51 ordinary|share
in Emerson||College|
||Enterprises
Limited set up|||to develop some ofthe properties|||||with Emerson|College site.||||
||Emerson College Enterprises||||Limited|||||||||
||Class ofshares - Ordinary|||||||holding 100%||||||
|15.|STOCKS|||||||||||||
||||||||||||2020||2019|
||||||||||||F||5|
||Stocks - Company||||||||||24,830||23,204|
||Work-in-progress
- Subsidiary||||||||||837,911|||
||Group||||||||||862,741||23,204|
|16.|DEBTORS:AMOUNTS||FALLING DUE||||WITHIN|ONE YEAR||||||
||Group|||||||||||||
||||||||||||2020||2019|
||||||||||||5|||
||Trade debtors||||||||||107,175||96,595|
||Other debtors||||||||||73,037||11,020|
||Intercompany|account||||||||||||
||Prepayments|and accrued||income|||||||2,176||24,773|
||||||||||||182,388|~132388||
||Company|||||||||||||
||||||||||||2020||2019|
||||||||||||||5|
||Trade debtors||||||||||105,674||96,595|
||Other debtors||||||||||63,712||11,020|
||Intercompany|account|||||||||1,214,632||203,317|
||Prepayments|and accrued||income|||||||2,176||24,774|
||||||||||||1,386,194||335,706|
##
##
##
##
|Group||||
|---|---|---|---|
|||2020|2019|
|||F|6|
|Trade creditors||51,362|78,123|
|Social security and other taxes||5,322|7,088|
|Other creditors||9,126|23,912|
|Pension creditor||53,367|47,372|
|Private loans||2,500|2,500|
|Accruals and deferred|income|189,615|~229 539|
|||311,292|~388 534|
|Company||||
|||2020|2019|
|||6|6|
|Trade creditors||51,362|78,123|
|Social security and other taxes||5,322|7,088|
|Other creditors||9,126|23,912|
|Pension creditor||53,367|47,372|
|Accruals and deferred|income|187,335|227,259|
|||306,512|383,754|
##
##
##
||for|the
ear ended 30Jun|e 2020|||
|---|---|---|---|---|---|
|MOVEMENT
IN|FUNDS|||||
||||Net|Transfers||
|||At 1.7.19|movement|between|At 30.6.20|
||||in funds|funds||
|Unrestricted
funds||||||
|General fund||1,501,391|888,814|27,881|2,418,086|
|Biodynamic
agriculture||25,859|(840)||25,019|
|Holistic Baby & Child Care BD||2,244|(84)||2,160|
|14/15 Course Development||||||
|Library||271|||271|
|||1,529,765|887,890|27,881|2,445,536|
|Restricted funds||||||
|Initiative
Group||1,593|||1,593|
|Greenhouse||19,370|7,184|(26,554)||
|Ruskin
Hall (Refurbishment)||21,072||(4,118)|16,954|
|Stage||330|||330|
|Library - hol Baby & Child||1,510|||1,510|
|Bursary Holistic|Baby|1,087|||1,087|
|Pixton|||(2,791)|2,791||
|Anthroposophic|Nursing|1,036|||1,036|
|Healing Words||3,858|||3,858|
|Storytelling
Bursary||5,473|258||5,731|
|Storytelling||3,390|(810)||2,580|
|Emerson
Bursary|||2,533||2,533|
|Practioners
&Teachers|||145,270||145,270|
|||58,719|151,644|(27,881)|182,482|
|TOTAL FUNDS||1,588,484|1,039,534||2,628,018|
##
##
|Net moveme|nt
in funds,|included
in the above are as follows:||||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement
in|
||||resources
f|expended|funds
F|
|Unrestricted|funds|||||
|General fund|||2,057,678|(1,168,864)|888,814|
|Biodynamic
agriculture
Holistic Baby & Child Care BD14/15 Course Development|||(840)|~84)|(840)
~84)|
||||2,056,838|(1,168,948)|887,890|
|Restricted|funds|||||
|Greenhouse|||7,184||7,184|
|Pixton|||101,000|(103,791)|(2,791)|
|Emerson
Bursary|||2,545|(12)|2,533|
|Practioners|&Teachers||145,270||145,270|
|Storytelling|Bursary||258||258|
|Storytelling|||330|(1,140)|(810)|
|Biodynamic|agriculture|fund|125|(125)||
||||256,712|(105,068)|151,644|
|TOTAL FUNDS|||2~313,550|(1~274016)|1~039 534|
##
##
##
|Compa|rativ|es|for mo|vement
in funds|||||
|---|---|---|---|---|---|---|---|---|
|||||||Net|Transfers||
||||||At 1.7.18|movement|between|At 30.6.19|
|||||||in funds|funds||
|||||||f|||
|Unrestricted
funds|||||||||
|General|fund||||1,447,730|11,921|41,740|1,501,391|
|Biodynamic||agriculture|||25,859|||25,859|
|Holistic|Baby &||Child Care BD||2,310|(66)||2,244|
|14/15 Course Development|||||||||
|Library|||||271|||271|
||||||1,476,170|11,855|41,740|1,529,765|
|Restricted||funds|||||||
|Biodynamic||agriculture||fund|39,009|(3,830)|(35,179)||
|Initiative|Group||||1,593|||1,593|
|Greenhouse|||||555|18,815||19,370|
|Ruskin|Hall|(Refurbishment)|||21,072|||21,072|
|Stage|||||330|||330|
|Library|- hol|Baby &Child|||1,510|||1,510|
|Bursary|Holistic||Baby||1,087|||1,087|
|Pixton|||||7,532|(971)|(6,561)||
|Anthroposophic|||Nursing||1,036|||1,036|
|Healing|Words|||||3,858||3.858|
|Storytelling||Bursary||||5,473||5.473|
|Storytelling||||||3,390||3.390|
||||||73,724|26,735|(41,740)|58,719|
|TOTAL|FUNDS||||1,549,894|38,590||1,588,484|
##
|Comparative|net move|ment
in funds,
included
in the above are a|s follows:|||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement
in|
||||resources|expended|funds|
|||||6|6|
|Unrestricted|funds|||||
|General fund
Holistic Baby & Child||Care BD 14/15 Course Development|1,512,045|(1,500,124)
~66)|11,921
~66)|
||||1,512,045|(1,500,190)|11,855|
|Restricted|funds|||||
|Greenhouse|||18,815||18,815|
|Healing Words|||3,858||3,858|
|Pixton||||(971)|(971)|
|Storytelling|Bursary||5,473||5,473|
|Storytelling
Biodynamic|agriculture|fund|4,770|(1,380)
~3,830)|3,390
~3830)|
||||32,916|(6,181)|26,735|
|TOTAL FUNDS|||1,544,961|(1,506,371)|38,590|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|FINANCIAL PERFO|RM|AN|CE
OF THE CHARITI|ABLE COMPANY||
|---|---|---|---|---|---|
|||||2020|2019|
|||||8|8|
|Income||||1,141,878|1,011,381|
|Gift from Subsidiary||||21,900|25,421|
|Gain on sale oftangible||fixed assets||923800||
|||||2,087,578|1,036,802|
|Expenditure
on charitable|||activities|1 048 044|998212|
|Net (expenditure)/income||||1,039,534|38,590|
|Total funds brought|forward|||1 588484|1 549 894|
|Total funds carried|forward|||2628 018|1 588484|
|Represented
by:||||||
|Unrestricted
Funds
Restricted
Funds||||2,445,536
182482|1,529,765
~5719|
|Total Funds||||2628 018|1 588484|