2021-06-30-accounts - The Emerson College Trust Limited

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		Page
Report of the	Trustees	1 to 6
Report of the	Independent Auditors	7 to9
Consolidated	Statement of Financial Activities	10
Consolidated	Balance Sheet
Company Balance Sheet		12
Cash Flow Statement		13
Notes to the	Cash Flow Statement	14
Notes to the	Financial Statements	15to 30

			for he ar	ed 30J ne 2	021
							2021	2020
				Unrestricted	Restricted	Total	funds	Total funds
				funds	funds
			Notes		6
INCOME AND ENDOWMENTS Donations and legacies		FROM	2	40,183	32,552		72,735	266,849
Charitable activities Education			4	448,041			448,041	874,643
Investment income			3	165			165	386
Trading Income Other income			21 5	2,500 ~69828			2,500 69,828	215,000 956,672
Total				560,717	32,552		593,269	2,313,550
EXPENDITURE ON
Subsidiary's trading	activities		21	37,147			37,147	225,972
Charitable activities
Education				721,867	28,745		750,612	1,048,044
Bank loan Interest
Total				759,014	28,745		787,759	1,274,016
NET INCOME/(EXPENDITURE)				(198,297)	3,807	(194,490)		1,039,534
Transfers between	funds		18	4,227	(4,227)
Net movement in funds				(194,070)	(420)	(194,490)		1,039,534
RECONCILIATION	OF FUNDS
Total funds brought	forward			2,445,536	182,482	2,628,018		1,588,484
TOTAL FUNDS CARRIED FORWARD				2251,466	182.062	2433528		2,628018

	sit	o 2021
				2021	2020
		Unrestricted	Restricted	Total funds	Total funds
	Not	funds	funds f
	es
FIXEDASSETS Tangible assets Investments	13 14	2,239,979 ~12 268		2,239,979 12268	2,252,039 ~12 268
		2,252,247		2,252,247	2,264,307
CURRENT ASSETS
Stocks	15	22,126		22,126	24,830
Debtors	16	1,191,156		1,191,156	1,386,194
Cash at bank and In hand		73,674	182062	265 736	41 165
		1,286,956	182,062	1,469,018	1,452, 189
CREDITORS
Amounts falling due within one year	17	(392,435)		(392,435)	(306,512)
NET CURRENT ASSETS		894,521	~182 062	~1469,018	~1,145677
TOTAL ASSETSLESS CURRENT
LIABILITIES		3,146,768	182,062	3,328,830	3,409,984
CREDITORS
Amounts falling dus after more than one year		(186,667)		(186,667)
PENSION LIABILITY	19	(708,635)		(708,635)	(781,966)
NET ASSETS		2 251,466	182,062	~2433 528	2,628,018
FUNDS	18
Unrestricted funds				2,251,466	2,445,536
Restricted funds				~182 062	182,482
TOTALFUNDS				~2433,528	2,628,018

				EMERSON	EMERSON	COLL GE T	UST LIMITED
			CONSOLID			ED C FLOW ST		T
				fo	the	ear ended 30	June 2 21
								2021	2020
						Notes		8	8
Cash flows from operating			activities:
Cash generated from operations								(127,984)	109,522
Interest paid
Net cash	provided	by (used in)		operating
activities								(127,984)	~109522
Cash flows from Investing			activities:
Purchase	of tangible	fixed assets						(26,185)	(83,502)
Interest received								166	386
Net cash	provided	by (used In)		investing				(26,020)	(83,116)
activities
Cash flows from financing			activities:
New loan	in year							2~00 000
Net cash	provided	by (used in)		financing
activities								200,000
Change in cash and cash equivalents					In the
reporting	period							45,996	26,406
Cash and	cash equivalents		at the beginning
ofthe reporting period								4~11 841	385,435
Cash and	cash equivalents		at the end		ofthe
reporting	period							457,837	411,841

			for he saran 0Jun	for he saran 0Jun	e 2021
1.	RECONCILIATION		OF NET INCOME/(EXPENDITURE)		TO NET CASH FLOW FROM	OPERATING
				ACTIVITIES
					2021	2020
					6	f
	Net Income/(expenditure) for the reporting			period {as	per the
	statement offinancial activities)				(194,490)	1,039,534
	Ad)ustments for: Depreciation charges				38,245	37,388
	Interest received				(165)	(386)
	Interest paid Movement in pension		liability		(73,331)	(46,435)
	(Increase)/decrease		In storks		2,704	(793,337)
	(Increase)/decrease		in debtors		28,276	(50,000)
	Increase/(decrease)		in creditors		70,777	~77 242
	Net cash provided	b)/ (used in) operating		activities	(127,984)	109,522

		Activity	2021 f	2020 f
Student	fees	Education	144,344	236,157
Student Student	fees discount boarding &Catering	Educatian Education	(22,749) 62,611	389,289
Other Income		Education	144,710	73,999
Venue	hire 8 rental income	Education	119125	175,198
			448,041	874,643

				Direct costs	Support costs	Totals
				(See note 7) f	(See note 8) f	f
Education				525 236	~225 376	750,612
DIRECT COSTS OF			CHARITABLE ACTIVITIES
					2021	2020
					f	f
Staff costs Tutor Fees					364,557 71,038	423,843 92,691
Tutor accommodailon			& material		16,612	27,773
Provisions	and	household			11,902	64,919
Garden costs Library and Bookshop			materials		15,799 8,290	1,489 12,708
Repairs and maintenance					36,173	42,900
Administration		and courses			309
Bad Debts					556	870
Pixton Third Age Project						103,791
					~525 236	~770 984
SUPPORT	COSTS
					Governance
				Management f	costs f	Totals f
Education				~213 106	12,270	225,376

SUPPORT COSTS -	c	ont	inued
Management					2021	2020
					Education	Total activities
					6	6
Trustees' fees					11,280	3,917
Trustees' expenses Rates and Water					1,431 17,326	1,036 35,359
Insurance					17,563	18,115
Light and heat Telephone, Internet &copier Postage and stationery Advertising & publicity Office equipment and IT Pension admin fees					29,791 5,931 240 19,301 26,061 4,495	50,151 3,665 745 11,315 25,802
Pension deficit administration					13,851	13,191
Pension deflclt finance		costs			5,793	34,634
Pension Levy Professional fees					11,444 3,346	9,604 4,670
Travel &other costs					427	1,945
Membership Fess Bank &other charges Depreciation oftangible		and heritage assets			2,837 3,744 38,245	2,522 9,499 37 388
					~213 106	~263 758
Governance costs
					2021	2020
					Education	Total activities
					6
Auditors' remuneration					7,000	7,000
Auditors' remuneration		for	non audit wor'k		5,270	6,302
Legal &professional	fees
					12,270	13,302
NET INCOME/(EXPENDITURE)
Net income/(expenditure)			Is stated after	charging/(crediting):
					2021	2020
					f	f
Auditors' remuneration					7,000	7,000
Other non-audit services					5,270	6,302
Depreciation - owned	assets				38,245	~37 388
The subsidiary's audit	end		accountancy	fee was f2,920(2020:62,280)

					2021	2020
						6
	Truslees' fees				11 2IIO	3917
	Trustees' expenses
					2021	2020
					f
	Trustees' expenses				1 431	1,036
	Trustees' expenses	relate to	travel and subsistence
11.	STAFF COSTS
					2021	2020
					8
	Wages and salaries Social security costs Other pension costs				381,104 22,483 ~6288	430,572 28,681 6,726
					~409 875	4~65 979
	The average monthly	number	ofemployees	during the year was as follows;
					2021	2020
	Teaching and administration				18	18

			Unrestricted	Restricted	Total	funds
			funds	funds
			f	8
INCOME	AND ENDOWMENTS	FROM
Donations	and legacies		10,137	256,712		266,849
Charitable Education	activities		874,643			874,643
Investment Income Trading income Other income			386 215,000 956,672			386 215,000 95B672
Total			2,056,838	256,712	2,313,550

	0 6 TO E C SO DATED FINANCIAL AT ENTS. CO forthe care de 0June 2021	0 6 TO E C SO DATED FINANCIAL AT ENTS. CO forthe care de 0June 2021	0 6 TO E C SO DATED FINANCIAL AT ENTS. CO forthe care de 0June 2021	I D
12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued Unrestricted			Restricted	Total funds
			funds	funds
	EXPENDITURE ON
	Charitable activities Education		942,976	105,068	1,048,044
	Bank loan interest Subsidiary's trading	activities	225,972		225 972
	Total		1,168,948	105,068	1,274,016
	NET INCOME/(EXPENDITURE)		887,890	151,644	1,039,534
	RECONCILIATION	OF FUNDS
	Transfers between	funds	27,881	(27,881 &
	Total funds brought	forward	1,529,765	58,719	1,588,484
	TOTAL FUNDS CARRIED FORINARD		2,445,536	182,482	~2,828018

NO 8 OT E NS D f t TANGIBLE FIXEDASSETS (GROUP AND	TEDFINANC LS T S-C care ded 0Ju e 2021 COMPANY)	O UED
			Machinery and
	Freehold	Short	office
	property	leasehold	equipment
	6		6
COST
At 1 July 2020	2,489,560	77,000	165,781
Additions			1,200
Dieposais
At 30June 2021	2,489660	77,000	165,781
DEPRECIATION
At 1 July 2020	321,774	77,000	153,491
Charge for year	24,896		2,994
Eliminated on disposal
At 30June 2021	346670	77000	156,485
NET BOOK VALIIE
At 30June 2021	2 142890		~10496
At 30June 2020	2,167,786		12290
	Fixtures and
	fittings f	Library Books 6	Totals 6
COST
At 1 July 2020	366,661	16,848	3,115,850
Additions	24,985		26,185
Dlsposals
At 30June 2021	391,646	16848	3,142,035
DEPRECIATION
At1 July2020	294,698	16,848	863,811
Charge for year	10,355		38,245
Eliminated on disposal
At 30June 2021	305,063	16,848	~902 056
NET BOOK VALUE
At 30June 2021	88,593	—	2239.979
At 30June 2020	77 968	.	2252 t739

FIXEDASSET INVESTMENTS (GROUP)
	Listed
	Investmentsf
MARKET VALUE
At 1 July 2020 and 30June 2021	12,267
NET BOOK VALUE
At 30June 2021	12,267
At 30June 2020	~12 267

	Emerson College	Emerson College	Enterprises Limited	Enterprises Limited
	Class ofshares -		Ordinary		holding 100%
15.	STOCKS
						2021	2020 f
	Stocks - Company Work-In-progress		- Subsidiary			22,126 837,911	24,830 837,911
	Group					860,037	8~62 741
16.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
	Group					2021	2020
						f	f
	Trade debtors					112,319	107,175
	Other debtors					21,751	73,037
	Intercompany Prepayments	account and accrued Income				~042	2,176
						~154 112	182,388
	Company					2021	2020 f
	Trade debtors					111,972	105,674
	Other debtors					14,375	63,712
	Intercompany Prepayments	account and accrued income				L 044,767 20,042	1,214,632 2,176
						1~191156	1~386,I94

Group		2021	2020
		f	E
Trade creditors		48,674	51,362
Social security and other taxes Qiher cred6ors Pension creditor		6,352 6,512 56,472	5,322 9,126 53,367
Private loans		2,500	2,500
Accruals and deferred	Income	261,559	189,615
Bank Loan		13,333
		395,402	311292
Company		2021	2020 f
Trade creditors		48,208	51,362
Social security and other taxes Other creditors		6,351 6,512	5,322 9,126
Pension creditor		56,472	53,367
Accruals and deferred	income	261,559	187,335
Bank Loan		~13 333
		~392 435	306,512

MOVEMENT IN FUND	S
			Net	Transfers
		At 1.7,20	movement	between	At 30621
			in funds	funds
			f		8
Unrestricted funds General fund		2,418,086	(198,070)		2,220,017
Biodynamlc agriculture		25,019			25,019
Holistic Baby 8 Child Care BD 14/15		2, 160	(186)		1,974
Course Development Library Storytelling Beyond Words Designated		271	(41)	4,227	229 4,227
		2,445,536	(198,297)	4,227	2,251,466
Restricted funds Biodynamic agriculture Initiative Group	fund	1,593	16,699		16,699 1,593
Greenhouse
Ruskin Hall (Refurbishment)		16,954			16,954
Stage Library- hol Baby 8 Child Bursary Holistic Baby		330 1,510 1,087			330 1,610 1,087
Plxton
Anthroposophic Nursing Healing Words		1,036 3,858			1,036 3,858
Storytelling Bursary Storytelling Emerson Bursary Practloners 8 Teachers		6,473 2,580 2,533 146770	(1,604) (771} (1,128) (9,489)	(4,227)	1,809 1,405 135,781
		182,482	3,807	(4,227)	182,062
TOTAL FUNDS		2,628,018	(194,490)		2,433,528

Net movem	e	nt In funds,	included In the above are as follows:
				Incoming	Resources	Movement in
				resources f	expended E	funds 8
Unrestricted		funds
General fund				534,393	(732,463)	(198,070)
Biodynamlc		agriculture
Holistic Baby & Child Care BD 14/15 Course Development				11,926	(12,112)	(186)
Library					(41)	(41)
				546,319	(744,616)	(198,297)
Restricted	funds
Pixton
Emerson Bursary				732	(1,860)	(1,128)
Practloners		&Teachers			(9,489)	(9,489)
Storytelling		Bursary		138	(1,642)	(1,504)
Storylelllng	General				(771)	(771)
Blodynamic		agriculture	fund	31,682	(14,983)	16,699
				32,552	(28,745)	3,807
TOTAL FUNDS				578,871	~773,361)	~194490)

MOVEMENT IN FUNDS, continued Comparatlves for movement in funds
		Net	Transfers
	At 1.7,19	movement	between	At 30.6.20
		in funds	funds
				5
Unrestricted funds
General fund	1,501,39'I	888,814	27,881	2,418,086
Blodynamic 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 Library - hol Baby 8 Child	330 1,510			330 1,510
Bursary Holistic Baby	1,087			1,087
Plrrton		(2,791)	2,791
Anthroposophlc Nursing Healing Words Storytelling Bursary Storytelling Emerson Bursary Preotioners &Teachers	1,036 3,858 5,473 3,390	258 (810) 2,533 145,270		1,036 3.858 5.731 2,580 2,533 145,270
	58,719	151,644	(27,881)	182,482
TOTAL FUNDS	1,588,484	1,039,534		2,628,018

Comparative net move	ment In funds, Included in the above are	as follows:
		Incoming	Resources	Movemsnt In
		resources	expended f	funds f
Unrestricted funds
General fund		2,057,678	(1,168,864)	888,814
Biodynamic agriculture Holistic Baby & Child Care BD 14/15 Course Development		(840)	~84)	(840) ~84)
		2,056,838	(1,168,948)	887,890
Restricted funds
Greenhouse		7,184		7,184
Healing Words
Pixton		101,000	(103,791)	(2,791)
Emerson Bursary Practioners 8Teachers		2,545 145,270	(12)	2,533 145,270
Storytelling Bursary		258		258
Storytelling Blodynamlc agriculture	fund	330 125	(1,140) ~125)	(810)
		256,712	(105,068)	151,644
TOTAL FUNDS		2,313,550	(1,274,016)	1,039,534

			2021 6	2020f
Income			543,815	1,141,878
Interest from intercompany		loan	28,242
Gift from Subsidiary			6,814	21,900
Gain on sale oftangible	fixed assets			923800
Expenditure on charitable		activities	578,871 ~73 6	2,087,578 ~00 4
Net (expenditure)/income			(194,490)	1,039,534
Total funds brought forward Total funds carried forward			~628 ~33	~1588 26 8018
Represented by; Unrestricted Funds Restricted Funds Total Funds			2,248,367 ~61	2,445,536 188+ ~618