## |||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
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6 TO
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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|