2022-06-30-accounts - The Emerson College Trust Limited

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		Page
Report ofthe	Trustees	3to 10
Report ofthe	Independent Auditors	11 to 13
Consolidated	Statement ofFinancial Activities	14
Consolidated	Balance Sheet	15
Charitable Company Balance Sheet
Cash Flow Statement		17
Notes to the	Cash Flow Statement	18
Notes to the	Financial Statements	19to 34

							2022	2021
					Unrestricted	Restricted	Total funds	Total funds
				Notes	funds E	funds f
INCOME AND ENDOWMENTS			FROM
Donations and legacies				2	16743	2,162	18,905	72,735
Charitable activities
Education				4	784,141		784,141	349,076
Investment income				3	428		428	165
Trading income				21	477,092		477,092	2,500
Other income				5	31,972		31,972	168,793
Total					1.310,376	2,162	1,312,538	593,269
EXPENDITURE ON
Subsidiaty's trading		activities		21	382,024		382,024	37,147
Charitable acttvldes
Education					995,170	53,686	1,048,856	750,612
Bank loan interest					3,015		3,015
Total					1,380,209	53,686	1,433,895	787,759
NET INCOME/(EXPENDITURE)					(69,833)	(51,524)	(121,357)	(194,490)
Transfers between		funds		18
Net movement in funds					(69,833)	(51,524)	(121,357)	(194,490)
RECONCILIATION	OF FUNDS
Total funds brought		forward			2,251,466	182,062	2,433,528	2,628,018
TOTAL FUNDS CARRIED FORWARD					2,181,633	130,538	2,312,171	2,433,528

		At	30June 2022
					2022	2021
			Unrestricted	Restricted	Total funds	Total funds
			funds	funds
		Notes	f
FIXEDASSETS
Tangible assets		13	2,278,378		2,278,378	2,239,979
Investments		14	12,267		12,267	12,267
			2,290,645		2,290,645	2,252,246
CURRENT ASSETS
Stocks		15	603,697		603,697	860,037
Debtors		16	156,194		156,194	154,112
Cash at bank and	in hand		480,743	130,538	611,281	457,837
			1,240,634	130,538	1,371,172	1,471,986
CREDITORS
Amounts falling due within one year		17	(567,976)		(567,976)	(395,402)
NET CURRENT ASSETS			672,658	130,538	803,196	1,076584
TOTAL ASSETS	LESSCURRENT
LIABILITIES			2,963,303	130,538	3,093,841	3,328,830
CREDITORS
Amounts felling due	after more than one year		(146,667)		(146,667)	(186,667)
PENSION LIABILITY		19	(635,003)		(635,003)	(708,635)
NET ASSETS			2,181,633	~130 538	~2,312171	2,433,528
FUNDS		18
Unrestricted funds					2,181,633	2,251,466
Restricted funds					130,538	182,062
TOTAL FUNDS					2,312171	2,433,528

		At	30June 2022
					2022	2021
			Unrestricted	Restricted	Total funds	Total funds
			funds	funds
		Notes	5	F
FIXEDASSETS
Tangible assets		13	2,278,378		2,278378	2,239,979
Investments		14	12,268		12,268	12,268
			2,290,646		2,290,646	2,252,247
CURRENT ASSETS
Stocks		15	40,995		40,995	22,126
Debtors		16	1,174,232		1,174,232	1,191,156
Cash at bank and	in hand		22,094	130,538	152,632	255,736
			1,237,321	130,538	1,367,859	1,469,018
CREDITORS
Amounts falling due within one year		17	(564,665)		(564,665)	(392,435)
NET CURRENT ASSETS			672,656	130,538	803,194	1,076,583
TOTAL ASSETS	LESSCURRENT
UABILITIES			2,963,302	130,538	3,093,839	3,328,830
CREDITORS
Amounts falling due	after more than one year		(146,667)		(146,667)	(186,667)
PENSION LIABILITY		19	(635,003)		(635,003)	(708,635)
NET ASSETS			2 181,632	130,538	2,312,170	2,433,528
FUNDS		18
Unrestricted funds					2,181,632	2,251,466
Restricted funds					130,538	182,062
TOTAL FUNDS					2,312,170	2,433,528

		for	the e	ar ended 30Jun	e 2022
				Notes	2022 f	2021 f
Cash flows from	operating	activities:
Cash generated from operations Interest paid					252,678 ~3,015)	(127,984)
Net cash provided by (used In) operating
actlvi5es					249,663	~127,984)
Cash flows from	investing	activities:
Purchase oftangible fixed assets					(82,971)	(26,185)
Purchase of
Interest received					85	165
Net cash provided by (used In) Investing					(82,886)	(26,020)
activities
Cash flows from	financing	activities:
New loan in year Loan repayments					~13,333)	200,000
Net cash provided by (used in) financing activities					~13,333)	200,000
Change in cash	and cash	equivalents	in the
mporting period					153,444	45,996
Cash and cash	equivalents	at the beginning
ofthe reporting	period				457,837	411,841
Cash and cash	equivalents	at the end	ofthe
reporting period					611,281	457,837

			for the ear ended 30Jun	for the ear ended 30Jun	e 2022
1.	RECONCILIATION		OF NET INCONIE/(EXPENDITURE)		TO NET CASH FLOW FROM	OPERATING
				ACTIVITIES
					2022	2021
					6	E
	Net income/(expenditure) for the reporting statement offinancia activities) Adjustments for:			period (as	per the (121,357)	(194,490)
	Depreciation charges				44,572	38,245
	Interest received Interest paid				(85) 3,015	(165)
	Movement in pension		liability		(73,632)	(73,331)
	(Increase)/decrease		in stocks		256,340	2,704
	(Increase)/decrease Increase/(decrease)		in debtors in creditors		(2,082) 145,907	28,276 70,777
	Net cash provided	by (used in) operating		activities	252,678	(127,984)

			Activity	2022 f	2021 f
Student	fees		Education	385,183	144,344
Student	fees discount		Education	(53,629)	(22,749)
Student	boarding	8 Catering	Education	288,189	62,611
Other income			Education	6,997	7,156
Venue	hire 8 rental income		Education	157,401	157714
				784,141	349,076

				Direct costs	Support costs	Totals
				(See note 7) f	(See note 8) F
Education				695,835	353,021	1,048,856
DIRECT COSTS OF			CHARITABLE ACTIVITIES
					2022 f	2021 f
Staff costs					358,040	364,557
Tutor Fees					165,438	71,038
Tutor accommodation			& material		59,811	16,612
Provisions	and	household			55,793	11,902
Garden costs					5,374	15,799
Library and	Bookshop		materials		6,661	8,290
Repairs and maintenance					40,453	36,173
Administration		and courses			3,344	309
Bad Debts					921	556
					695,835	525,236
SUPPORT	COSTS
					Governance
				Management	costs	Totals
				F	F.
Education				340,133	12888	353021

	Governance
Management	costs	Totals
F	F.
340,133	12,888	353,021

Management
				2022	2021
				Education	Total activities
Trustees' fees Trustees' expenses Rates and Water				23,307 616 21,131	11,280 1,431 17,326
Insurance				17,136	17,563
Light and heat				54,514	29,791
Telephone, internet 8 copier				5,269	5,931
Postage and stationery				594	240
Advertising & publicity				24,903	19,301
Office equipment and	IT			27,898	26,061
Pension admin fees				2,401	4,495
Pension deficit administration				15,291	13,851
Pension deficit finance		costs		18,303	5,793
Pension Levy Professional fees				3,253 75,413	11,444 3,346
Travel &other costs				425	427
Membership Fees				4,393	2,837
Bank &other charges				714	3,744
Depreciation oftangible		and heritag e assets		44,572	~38245
				340,133	213,106
Governance costs
				2022	2021
				Education	Totalactivities
				6
Auditors' remuneration				7,388	7,000
Auditors' remuneration		for	non audit work	5,500	5,270
Legal &professional	fees
				1288S	12270
NET INCOME/(EXPENDITURE)
Net income/(expenditure)			is stated after charging/(crediting):
				2022 6	2021 f
Auditors' remuneration				7,388	7,000
Other non-audit services				5,500	5,270
Depreciation - owned	assets			44,572	38,245

			Unrestricted	Restricted	Total funds
			funds	funds
			f	f
INCOME	AND ENDOWMENTS	FROM
Donations	and legacies		40,183	32,552	72,735
Charitable	activities
Education			448,041		448,041
Investment	income		165		165
Trading income			2,500		2,500
Other income			69,828		69,828
Total			560,717	32,552	593,269

		for the ear ended 30June 2022	for the ear ended 30June 2022	for the ear ended 30June 2022
12.	COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
				Unrestricted	Restricted	Total funds
				funds f	funds f
	EXPENDITURE ON
	Charitable activities
	Education			721,867	28,745	750,612
	Bank loan interest
	Subsidiary's trading		actNities	37,147		37,147
	Total			759,014	28,745	787,759
	NET INCOME/(EXPENDITURE)			(198,297)	3,807	(194,490)
	RECONCILIATION	OF FUNDS
	Transfers between		funds	4,227	(4,227)
	Total funds brought		forward	2,445,536	182,482	2,628,018
	TOTAL FUNDS CARRIED FORWARD			2 251 466	182,062	2,433,528

TANGIBLE FIXEDASSETS (GROUP AND	COMPANY)
			Machinery and
	Freehold	Short	office
	property	leasehold	equipment
	F	5	E
COST
At 1 July 2021	2,489,560	77,000	166,981
Additions	59,801		1,714
Disposals
At 30June 2022	2,549,361	77,000	168,695
DEPRECIATION
At 1 July 2021	346,670	77,000	156,485
Charge for year	24,895		4,692
Eliminated on disposal
At 30June 2022	371,565	77,000	161,177
NET BOOK VALUE
At 30June 2022	2,177,796		7,518
At 30June 2021	2,142,890		10,496
	Fixtures and
	htiings	Library Books	Totals
	5	5	5
COST
At 1 July 2021	391,646	16,848	3,142,035
Additions	21,456		82,971
Disposals
At 30June 2022	413,102	16,848	3 225 006
DEPRECIATION
At 1 July 2021	305,053	16,848	902,056
Charge for year	14,984		44,572
Eliminated on disposal
At 30June 2022	320,037	16,848	946,628
NET BOOK VALUE
At 30June 2022	93,065		2278,378
At 30June 2021	86 593		2 239979

	Listed investments
	E
MARKET VALUE
At 1 July 2020 and 30June 2022	12,267
NET BOOK VALUE
At 30June 2022	12,267
At 30June 2021	12,267

Emerson College Enterprises Limited	Emerson College Enterprises Limited	Emerson College Enterprises Limited	Emerson College Enterprises Limited
Class ofshares - Ordinary				holding 100%
STOCKS
					2022	2021
					f
Stocks —Company					40,995	22,126
Work-in-progress		- Subsidiary			562,702	837,911
Group					603,697	860,037
DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
Group
					2022	2021
					F	8
Trade debtors					116,090	112,319
Other debtors					22,448	21,751
Intercompany	account
Prepayments	and	accrued income			17,656	20,042
					~156194	154112
Company
					2022	2021
					5	F
Trade debtors					112,425	111,972
Other debtors					17,261	14,375
Intercompany	account				1,026,890	1,044,767
Prepayments	and	accrued income			17,656	20,042
					1,174,232	1,191,156

Group
		2022	2021
		f	f
Trade creditors		64,048	48,674
Social security and other taxes		3,586	6,352
Other creditors		9,541	6,512
Pension creditor		70,297	56,472
Private loans			2,500
Accruals and deferred Bank Loan	income	380,504 ~40 000	261,559 13,333
		567 976	395402
Company
		2022 f	2021 f
Trade creditors		63,388	48,208
Social security and other taxes		3,586	6,351
Other creditors		9,540	6,512
Pension creditor		70,297	56,472
Accruals and deferred	income	377,854	261,559
Bank Loan		40,000	13,333
		564,665	392,435

				Net	Transfers
			At 1.7.21	movement	between	At 30.6.22
				in funds	funds
Unrestricted funds
General fund			2,220,017	(75,100)		2,144,917
Biodynamic agriculture			25,019			25,019
Holistic Baby & Child Care BD 14/15			1,974	(1,500)		474
Library			229	(41)		188
Storytelling Beyond Words Designated			4,227	3,710		7,937
Education Fund				3,098		3,098
			2,251,466	(69,833)		2,181,633
Restricted funds
Biodynamic agriculture		fund	16,699	(6,542)		10,157
Initiative Group			1,593			1,593
Ruskin Hall (Refurbishment)			16,954			16,954
Stage			330			330
Library - Holistic	Baby & Child		1,510			1,510
Bursary Holistic	Baby		1,087			1,087
Anthroposophic	Nursing		1,036			1,036
Healing Words			3,858			3,858
Storytelling			1,809	(1,167)		642
Emerson Bursary			1,405	62		1,467
Practioners &Teachers			135,781	(43,877)		91,904
			182,062	(51,524)		130,538
TOTAL FUNDS			2,433,528	(121,357)		2,312,171

Net movement in funds,	included in the above are as follows:
		Incoming	Resources	Movement in
		resources	expended	funds
			5	6
Unrestricted funds
General fund		1,301,740	(1,376,840)	(75,100)
Storytelling Holisbc Baby & Child Care BD 14/15 Course Development Library Education Fund		5,538 3,098	(1,828) (1,500) (41)	3,710 (1,500) (41) 3,098
		1,310,376	(1,380,209)	(69,833)
Restricted funds
Emerson Bursary		62		62
Practioners &Teachers		2,100	(45,977)	(43,877)
Storytelling Biodynamic agriculture	fund		(1,167) (6,542)	(1,167) (6,542)
		2,162	(53,686)	(51,524
TOTAL FUNDS		1,312,538	(1,433,895)	~121,357)

MOVEMENT IN FUNDS - continued Comparatives for movement in funds
		Net	Transfers
	At 1.7.20	movement	between	At 30.6.21
		in funds	funds
				F
Unrestricted funds
General fund	2,418,088	(198,070)		2,220,018
Biodynamic agriculture	25,019			25,019
Holistic Baby & Child Care BD	2,160	(186)		1,974
14/1 5Course Development
Library	271	(41)		230
Storytelling Beyond Words			4,227	4,227
	2,445,538	(198,297)	4,227	2,251,468
Restricted funds
Biodynamic Agriculture		16,699		16,699
Initiative Group	1,593			1,593
Ruskin Hall (Refurbishment)	16,954			16,954
Stage	330			330
Library —Holistic Baby & Child	1,510			1,510
Bursary Holistic Baby	1,087			1,087
Anthroposophic Nursing	1,036			1,036
Healing Words	3,858			3.858
Storytelling Bursary	5,731	(1,504)	(4,227)
Storytelling	2,580	(771)		1,809
Emerson Bursary	2,533	(1,128)		1,405
Practioners 8 Teachers	145,270	(9,489)		135,781
	182,482	3,807	(4227)	182062
TOTAL FUNDS	2,62S,018	(194,490)		2,433,528

Comparative	net movem	ent in funds, included in the above are	as follows:
			Incoming	Resources	Movement in
			resources	expended	funds
			E	E
Unrestricted	funds
General fund			534,393	(732,463)	(198,070)
Holistic Baby & Child Care BD 14(15 Course Development Library			11,926	(12,112) ~41)	(186) ~41)
Restricted	funds		546,319	(744,616)	(198,297)
Emerson Bursary Practioners &Teachers			732	(1,860) (9,489)	(1,128) (9,489)
Storytelling	Bursary		138	(1,642)	(1,504)
Storytelling Biodynamic	agriculture	fund	31,682	(771) ~14,983)	P71) 16,699
			32,552	(28,745)	3807
TOTAL FUNDS			578,871	(773,361)	(194,490)

FINANCIAL PERFO	RM	AN	CE OF THE CHARITI	ABLE COMPANY
				2022 f.	2021f
Income				881,339	543,815
Interest from intercompany			loan	24,792	28,242
Gift from Subsidiary				70,360	6,814
Gain on sale oftangible		fixed assets
				976,491	578,871
Expenditure on charitable			activities	1 097849	773 361
Net (expenditure)/income				(121,358)	(194,490)
Total funds brought	forward			2433528	2628018
Total funds carried	forward			2312170	2433528
Represented by:
Unrestricted Funds				2,181,632	2,248,367
Restricted Funds				130538	185161
Total Funds				2312 170	2433 528