OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Company number: 2466244 Charity number: 803031

The English & Media Centre (A Charity Company Limited by Guarantee, company number 2466244) Audited Financial Statements and Trustees' Report for the year ended 31 March 2021

AT The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Index to the Financial Statements for the year ended 31 March 2021

Page
Index to the Financial Statements 2
Charity Information 3
Trustees' Report 4 - 7
Statement of Trustees' Responsibilities 8
Independent Auditors' Report 9 - 11
Statement of Financial Activities 12
Statement of Financial Position 13
Statement of Cash Flows 14
Accounting Policies 15 - 16
Notes to the Accounts 17 - 22

Page 2

AT The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Charity Information

for the year ended 31 March 2021

Status:

The English & Media Centre is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. The directors of the charity are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees.

Charity name: The English & Media Centre
Company registration number: 2466244
England & Wales
Charity registration number: 803031
Registered office: 18 Compton Terrace
London N1 2UN
Operations address: 18 Compton Terrace
London N1 2UN
Trustees who held office J. R. Hickman - Resigned 5 July 2021
during the year: E. J. Crump
A. M. Turvey - Resigned 30 March 2021
D. B. Sheppard
K. Miah
J. T. Brown - Resigned 30 March 2021
R. Long
A. E. Sarchet
Dr S. E. Barrow
L. Worsley - Appointed 8 October 2020
Chairperson: L. Worsley
Secretary: A. McCallum
Executive Director: A. McCallum
Senior Statutory Auditor: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Bankers: National Westminster Bank Plc
166 Camden High Street
London NW1 0NS
0
CCLA Investment Management Ltd
COIF Charity Funds
Senator House
85 Queen Victoria Street
London EC4V 4ET

Page 3

(A Charity Company Limited by Guarantee, company number 2466244)

AT The English & Media Centre

Trustees' Report, incorporating the Director's Report for the year ended 31 March 2021

The Trustees of the The English & Media Centre present their report together with the financial statements for the year ended 31 March 2021.

Principal activity

The principal activities of the charity in the year under review were those of the provision of in-service training in language, literature, and media to Secondary English teachers and the publication of classroom teaching materials.

Trustees

The Trustees of the charity who held office during the year are disclosed on page 3.

Structure, governance and management

Governing document

The English & Media Centre is a company limited by guarantee, incorporated on 2 February 1990. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

Risk mitigation

The board has examined the principal areas of the charity's operations and considered the major risks which may arise in each of these areas. In the opinion of the trustees the charity has established resources and review systems which, under normal conditions, should allow the risks identified by them to be mitigated to an acceptable level in its day to day operations.

The scope and nature of the work of the English & Media Centre

The English and Media Centre is an independent development centre supporting and serving secondary English and Media teachers and the wider English teaching community, through professional development courses, consultancy and classroom resources.

We aim to develop and disseminate best practice and innovative approaches to language, literature and media, in all their forms, including new literacies and technologies. We support teachers in helping their students to become confident, articulate, critical and creative readers and writers. Our work draws on our close connections with teachers, making them colleagues, not just customers.

Our approach combines creativity with rigour and we value our reputation for expertise and quality. We aim both to answer the practical needs of teachers and offer expert, informed advice.

As a not-for-profit voluntary sector organisation we are unique in being able to bring together publishing, CPD, projects and consultancy and to stand up for the very best in English and Media teaching.

The profile of the Centre in the school system

We continue to have a high profile among secondary English and Media teachers in the UK, with an increasing presence in debates and consultations at tertiary level. Our professional development courses are attended by over 1000 teachers a year, while our publications reach English and Media departments in over 4000 schools and FE colleges. Additionally, we act as consultants for department and school-focused work. We also run the subject-specialism part of a Media PGCE course for Goldsmiths College, London University, and an English PGCE for London Metropolitan University.

Teachers and students in the post-16 sector are supported by our magazines, websites and conferences. We continue to offer a lead in this area, which receives less funding and direct intervention from LA and DFE agencies than other secondary age groups.

Given the multiple readerships for each of our publications, it is reasonable to estimate that EMC publications are read and used by several hundred thousand students each year.

EMC acts as a hub for other organisations working in the field of English and Media Studies, and in related fields with links to literacy, language learning, literature, media and the arts. We continue to be invited to contribute to national discussions by various subject associations, exam boards, publishers, arts agencies and HE institutions.

Page 4

AT The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Trustees' Report, incorporating the Director's Report for the year ended 31 March 2021

Review for the year

The entire 2020/21 financial year took place during a period of national lockdown restrictions, due to the global Covid-19 income and developed new ways of working that should make us a stronger organisation in the future.

Working practices

All members of the team began to work exclusively from home at the start of lockdown. Most members of the team continued to do so throughout the financial year and trustees have agreed to a transitional period after lockdown when members of staff are required to work in the office for a minimum of 50% of their contracted time.

Working from home was a success, in that we were able to maintain our levels of activity and communicate effectively with each other and with schools via email and Zoom. Laptops were provided for members of the team where needed.

person to person, depending on responsibilities. No member of staff was on furlough for more than three months and all members of the team worked to their full contracts from September 1st 2020.

Lockdown also revealed new opportunities to work closely with teachers. For example, we recruited 40 teachers to trial the stories in our new anthology, Iridescent Adolescent , and develop resources around them. Teachers were really committed and particularly valued working collaboratively with colleagues in other schools. The resources developed helped to inform our own free resources linked to the collection.

Online CPD

We moved all of our CPD provision online, using the Zoom platform. Initially we scheduled a small number of short courses, priced at £10. Such was the demand that we soon scheduled a wide range of short courses, with a few full-day courses on offer with more limited numbers. We have also raised prices in line with demand.

We ran over 50 courses in the financial year. These were attended by about 8000 people, compared to the 800 or so we attracted to centre-based courses in previous years. This greatly increased our reach and contributed to an increased interest in our other activities during the course of the year.

Working online meant we were able to schedule courses we could never have run in the past. For example, linguist April BakerBell, based in the US, presented to several hundred people on her book, Linguistic Justice and we ran panels, also attracting

We plan to continue offering online CPD beyond lockdown, while also reintroducing centre-based courses.

Publications

At the start of lockdown we made available a downloadable pack of resources for KS3 study at home. Its success led us to produce and make available other free material. This included:

5735 downloads 1092 downloads 832 downloads 1103 downloads 1934 downloads 2933 downloads 406 downloads 805 downloads 1330 downloads 1147 downloads 830 downloads

Page 5

(A Charity Company Limited by Guarantee, company number 2466244)

AT The English & Media Centre

Trustees' Report, incorporating the Director's Report for the year ended 31 March 2021

These free resources have played a considerable part in increasing our profile and have led to plans to produce free resources alongside paid-for publications. Specifically, resources are being developed to go alongside our new story anthology, Iridescent Adolescent .

We had a relatively quiet year in terms of publishing, but still produced the following:

We have two other download publications in the final stages of development:

EMC Curriculum as Conversation: Going on an Odyssey at KS3

We had a record year for sales of publications, with several of our publications now available to buy in multiple copies and continuing to sell well year-on-year. We were also boosted by renewed interest in our anthology, Diverse Shorts , stimulated by renewed calls to decolonise and diversity English curricula.

Conferences

We were unable to run any conferences at Friends House due to lockdown restrictions. However, we developed a conference model for A Level language teachers, rather than students, and have plans to extend this to students as well.

PGCE courses

Our Media PGCE course (with Goldsmiths) and our English one (with London Metropolitan) both recruited in record numbers. Largely this was because lockdown meant more people were considering a career in teaching; also the English course carried a both of whom received highly complimentary feedback from their external examiners.

Magazines

emagazine continued to increase sales year-one-year. Perhaps due to students working from home during lockdown, the number of schools subscribing to the web package went up considerably and is now over 90% of total subscriptions.

MediaMagazine reversed a year-on-year decline for the first time in nine years. Figures rose to 2018 levels. As with emagazine , there were a record number of web package subscriptions.

Initiatives, impact and partnerships

It was trickier than in previous years to maintain links with other organisations working in the field. Nonetheless, we continued to have strong working relationship with several organisations, including: NATE, MEA, CLPE, British Library, Forward Arts Foundation, First Story, OCR, Common English Forum and various university PGCE departments.

We also continued to offer free twilight sessions, online rather than in-house. For example, we hosted April Baker-Bell presenting on Black Linguistic Justice, and a panel consisting of Farah Serrouk, Jeffrey Boakye, Bennie Kara and Darren Chetty, speaking

EMC website + social media

The increased number of free resources on the website, plus the shift to online courses, resulted in a 200% increase in entries to our website. We gained over 2000 new followers on Twitter and increased our database of teacher contacts considerably.

Staffing

There were no significant changes in staffing over the course of the year.

We undertook a substantial review of the function of the trustees over this period, drawing on the expertise of the Foundation for Social Improvement. This resulted in a new set of aims and mission statement for EMC, which will be made public when the redevelopment of the website is complete. As part of this, a review of the trustees was conducted, with new trustees to approach

Page 6

(A Charity Company Limited by Guarantee, company number 2466244)

AT The English & Media Centre

Trustees' Report, incorporating the Director's Report for the year ended 31 March 2021

Financial Review

The results of the period and financial position of the charity are shown in the annexed financial statements.

The Statement of Financial Activities shows an increase in funds for the year of £83,049 and reserves of £1,661,072.

Extraordinary circumstances towards the end of the financial year meant that we have posted a bigger operating deficit than expected. The Covid-19 lockdown led to the cancellation of three full courses, plus the second Language conference. In addition,

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 8 to the accounts.

Independent Auditors

The statutory auditor, A D Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.

Although not required, the trustees have determined that the charitable company be audited under the Companies Act 2006 for the year ended 31st March 2021 and for future years. The charity is not required to be audited under charities legislation for the year ended 31st March 2021.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The trustees acknowledge and confirm their responsibilities for preparing the financial statements and providing appropriate information to the auditors as detailed in the Statement of Trustees' Responsibilities set out on page 8.

These financial statements were approved by the Trustees on 15 November 2021 and signed on their behalf by:

L. Worsley Trustee

Page 7

(A Charity Company Limited by Guarantee, company number 2466244)

AT The English & Media Centre

Statement of Trustees' Responsibilities for the year ended 31 March 2021

Statement of trustees' responsibilities

The trustees (who are the directors of the charity for the purpose of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and charity legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the trustees are aware, there is no relevant audit information of which the charitable company's auditor is unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Page 8

(A Charity Company Limited by Guarantee, company number 2466244)

AT The English & Media Centre

Independent Auditors' Report to the Members of The English & Media Centre

We have audited the financial statements of The English & Media Centre for the year ended 31 March 2021 which comprise the Statement of Financial Activities, Statement of Financial Position, Statement of Cash Flows and the Notes to the Accounts to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 9

AT The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Independent Auditors' Report to the Members of The English & Media Centre

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Taxation law and regulations applicable to charities also apply to the charitable company but it is not involved in any complex matters that increase the risk of non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our Report of the Auditors.

Page 10

AT The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Independent Auditors' Report to the Members of The English & Media Centre

Use of our report

This report is made solely to the company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Armstrong FCA (Senior Statutory Auditor) Armstrong & Co Chartered Accountants & Statutory Auditor 15 November 2021

4a Printing House Yard Hackney Road London E2 7PR

Page 11

FS The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 March 2021

Notes
Income from:
Charitable activities
3
Other trading activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Total income less total expenditure
Net gains/(losses) on investments
9
Net income/(expenditure)
Other recognised gains/(losses):
Actuarial gains/(losses) on defined benefit
pension schemes
Net movement in funds
Reconciliation of funds:
Total funds brought forward
14
Total funds carried forward
14		 2021
Total Funds
£
829,076
11,143
30,446
870,665
947,682
947,682
(77,017)
160,066
83,049
-
83,049
1,578,023
1,661,072		 2020
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
£
796,445
11,143
30,446		 £
32,631
-
-		 £
-
-
-		 £
830,339
7,810
31,807
838,034 32,631 - 869,956
915,051 32,631 - 949,340
915,051 32,631 - 949,340
(77,017)
160,066		 -
-		 -
-		 (79,384)
(13,363)
83,049
-		 -
-		 -
-		 (92,747)
180,000
83,049
1,578,023		 -
-		 -
-		 87,253
1,490,770
1,661,072 - - 1,578,023

There are no gains and losses other than those noted above and therefore no separate statement of total recognised gains and losses has been prepared.

The accompanying accounting policies and notes form an integral part of these financial statements.

Page 12

(A Charity Company Limited by Guarantee, company number 2466244)

The English & Media Centre

Statement of Financial Position as at 31 March 2021

Notes
ixed assets:
angible assets
8
nvestments
9
otal fixed assets
Current assets:
Stocks
10
Debtors
11
Cash at bank and In hand
12
otal current assets
13
Net current assets
otal net assets
he funds of the charity:
Unrestricted funds
14
otal charity funds
14
Creditors: amounts falling due within one year		 £
£
£
£
4,666
7,354
930,639
770,573
935,305
777,927
114,203
125,836
63,363
257,182
565,394
431,371
742,960
814,389
17,193
14,293
725,767
800,096
1,661,072
1,578,023
1,661,072
1,578,023
1,661,072
1,578,023
31 March 2021
31 March 2020		 £
£
£
£
4,666
7,354
930,639
770,573
935,305
777,927
114,203
125,836
63,363
257,182
565,394
431,371
742,960
814,389
17,193
14,293
725,767
800,096
1,661,072
1,578,023
1,661,072
1,578,023
1,661,072
1,578,023
31 March 2021
31 March 2020
£
114,203
63,363
565,394		 £
7,354
770,573
777,927
800,096
742,960
17,193
1,578,023
1,578,023
1,578,023

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102 section 1A.

These financial statements were approved by the Trustees on 15 November 2021 and signed on their behalf by:

L. Worsley Trustee

The notes on pages 15 to 22 form part of these accounts.

Page 13

The English & Media Centre

(A Charity Company Limited by Guarantee, company number 2466244)

Statement of Cash Flows

for the year ended 31 March 2021

Notes
Cash flows from operating activities:
Net cash used in operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Proceeds from sale of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to Cash Flow Statement
1
Adjustments for:
Depreciation charges
(Gains)/losses on revaluation of investments
Dividends, interest and rents from investments
Actuarial gains/(losses) on defined benefit pension schemes
(Increase)/decrease in stocks and work in progress
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities
2 Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 2021
£
106,578
30,446
(3,001)
-
27,445
134,023
431,371
565,394
2021
£
83,049
5,689
(160,066)
(30,446)
-
11,633
193,819
2,900
106,578
2021
£
565,394
565,394		 2020
£
(119,690)
31,807
(7,617)
150,000
174,190
54,500
376,871
431,371
2020
£
(92,747)
5,670
13,363
(31,807)
180,000
(4,559)
(180,690)
(8,921)
(119,690)
2020
£
431,371
431,371

Page 14

(A Charity Company Limited by Guarantee, company number 2466244)

The English & Media Centre

Accounting Policies

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with:

a) Applicable UK accounting standards, including the provisions of section 1A (Small Entities) of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Public benefit entity

The charity meets the defination of a public benefit entity under FRS 102.

Going concern

The charity's income is mainly derived from self-generated sources such as sales of teaching materials and training courses. The trustees consider that there are no material uncertainties about the demand for, and the charity's ability to continue to provide, these services, and accordingly, the accounts have been prepared on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for once the tax reclaim has been applied for. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of premises temporarily surplus to requirement, and is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Income from property held for its rental returns is included in Investments when due.

Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

the Trustees. These include grants payable, governance costs and an apportionment of support costs.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Designated Funds

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & fittings - 20% on cost Computers & equipment - 33% on cost

Items of equipment are only capitalised where the purchase price exceeds £500.

Page 15

(A Charity Company Limited by Guarantee, company number 2466244)

The English & Media Centre

Accounting Policies

for the year ended 31 March 2021

Investments

Investments are shown in the statement of financial position at closing market value. Surpluses or deficits on valuation are credited or charged to the SOFA.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The cost of stock is made up of the direct cost of printing and collating only.

Pensions

Employees of the charity are entitled to join one of the 3 pension schemes mentioned below depending on their employment status. Future contributions to the Teachers Pension Scheme and the London Pension Funds Authority scheme are contingent on the outcome of periodic actuarial reviews undertaken by the schemes.

a) Teachers Pension Scheme

Teachers' Pensions Regulations 2010 and, from 1 April 2014, the Teachers' Pension Scheme Regulations 2014. Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The latest actuarial valuation of the TPS was carried out as at 31 March 2012 and in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014. The valuation report was published by the Department for Education on 9 June 2014. The key elements of the valuation and subsequent consultation are:

employer contribution rates set at 23.68% of pensionable pay (including a 0.08% employer administration charge;

total scheme liabilities for service to the effective date of £191,500 million, and notional assets of £176,600 million, giving a notional past service deficit of £14,900 million; and

an employer cost cap of 10.9% of pensionable pay will be applied to future valuations.

The new employer contribution rate is applicable from 1 April 2015 and was implemented for the TPS from September 2015.

https://www.teacherspensions.co.uk/news/employers/2014/06/publication-of-the-valuation-report.aspx.

The assets of the TPS are held in separate trustee-administered funds. Because of the nature of the scheme, the scheme's assets are not hypothecated to individual institutions and scheme-wide contribution rates are set. The charity is therefore

the statement of financial activities represents the contributions payable to the scheme in respect of the accounting period.

b) London Pensions Fund Authority (LPFA)

The LPFA was established in 1989 as a stand-alone public body, to take over the running of the former Greater London Council (GLC) Pension Fund following GLC abolition on 31st March 1986. LPFA is also responsible for the residual employer functions of the GLC, Inner London Education Authority (ILEA) (abolished on 31st March 1990) and the former London Residuary Body (LRB).

The last remaining employee in the pension scheme retired in January 2020. The pension scheme has now been closed. During 2020 a repayment was received based on the cessation valuation carried by the LPFA.

c) Defined Contribution stakeholder pension scheme

Under this scheme only the employer is required to contribute, currently at the rate of 14.8% (2020: 14.8%). Employee contributions are voluntary.

Page 16

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2
Net incoming resources
Net incoming resources are stated after charging:
Auditors fees - audit services
Auditors fees - other services
Depreciation - owned assets
Trustees' emoluments		 2021
£
3,500
3,100
5,689
-		 2020
£
3,500
3,100
5,670
-

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

FRC Ethical Standard - Provisions Available for Audits of Small Entities

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to provide advice relating to statutory and regulatory compliance.

Charitable activities
Grants Charities - CJRS grant
EMC Publics income - EducDirect
Publications - EMC SALES
Publications - Downloads
Publications - Emagazine
Publications - Media Magazine
Courses
Conferences
Consultancy - EMC Staff
Consultancy - PGCE
Miscellaneous income		 Unrestricted
£
-
358,949
-
10,673
135,767
47,694
137,465
6,500
3,152
95,245
1,000
796,445		 Restricted
£
32,631
-
-
-
-
-
-
-
-
-
-
32,631		 2021
Total
£
32,631
358,949
-
10,673
135,767
47,694
137,465
6,500
3,152
95,245
1,000
829,076		 2020
Total
£
-
287,491
5,285
28,388
129,690
43,263
193,668
66,795
10,210
65,449
100
830,339
Other trading activities
Copyright income
Letting income
Investments
Investment income
COIF interest received
Other interest received
Natwest bank received		 Unrestricted
£
8,039
3,104
11,143
Unrestricted
£
27,120
191
3,089
46
30,446		 Restricted
£
-
-
-
Restricted
£
-
-
-
-
-		 2021
Total
£
8,039
3,104
11,143
2021
Total
£
27,120
191
3,089
46
30,446		 2020
Total
£
7,270
540
7,810
2020
Total
£
29,031
1,172
1,483
121
31,807

Page 17

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

6
Charitable activities
Unrestricted
£
Opening stock
125,836
Printing
63,774
Materials
391
Closing stock
(114,203)
#N/A
75,798
#N/A
-
Sales order processing costs (ED)
106,388
Publications - Marketing
12,760
Authors fees for EMC Titles
4,207
PGCE Costs
2,141
Courses costs
8,828
Conferences costs
983
Consultants - ICT running costs
21,476
Emagazine
42,509
Mediamagazine
32,413
Staff salaries
436,753
Staff training
39
Temporary staff
-
Office costs
13,073
Travel & subsistence expenses
28
Subscriptions & affiliation
1,702
Provision for bad debts
12,038
Rent payable
80,000
Rates & services
29,028
General expenses
159
Legal & professional
11,749
Payroll processing costs
690
Bank charges
10,000
Depreciation charge for the year
5,689
Auditor's remuneration
6,600
915,051
7
Staff costs
Staff salaries
Staff social security
Staff pensions
Employees paid in excess of £60,000 during the current year and previous year:
Average number of employees during the year was:		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,631
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,631		 2021
Total
£
125,836
63,774
391
(114,203)
75,798
-
106,388
12,760
4,207
2,141
8,828
983
21,476
42,509
32,413
469,384
39
-
13,073
28
1,702
12,038
80,000
29,028
159
11,749
690
10,000
5,689
6,600
947,682
2021
£
365,735
32,498
71,151
469,384
12
1		 2020
Total
£
121,277
36,686
133
(125,836)
32,260
-
66,629
17,073
10,017
2,626
33,446
38,725
27,624
37,930
35,034
478,682
1,153
2,142
20,417
1,186
2,679
3,839
80,000
40,467
-
-
690
4,451
5,670
6,600
949,340
2020
£
364,693
33,780
80,209
478,682
12
1

The number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards were as follows:

£60,000 upwards were as follows:
No of employees
Band 2021 2020
£60,000 to £69,999 - 1
£70,000 to £79,999 1 -

The charity considers its key management personnel to be the trustees and the executive director. The total employment benefits (including employer pension contributions) of the key management personnel were £88,274 (2020: £83,798). No remuneration was paid to any trustee or their associates for services as a trustee during the year ended 31 March 2021 nor to 31 March 2020.

Page 18

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

8
9		 Tangible fixed assets
Tangible 1
Premises
Improvements
Plant &
machinery
£
£
£
Cost
As at 1 April 2020
-
-
-
Additions
-
-
-
As at 31 March 2021
-
-
-
Depreciation
As at 1 April 2020
-
-
-
Charge for the year
-
-
-
As at 31 March 2021
-
-
-
Net book value
As at 31 March 2021
-
-
-
As at 31 March 2020
-
-
-
Investments
CCLA - Mary
Bastow - #3
CCLA - Mary
Bastow - #2
Market value
As at 1 April 2020
-
-
Revaluations
-
-
As at 31 March 2021
-
-
Historical value at at 31 March 2021		 Tangible fixed assets
Tangible 1
Premises
Improvements
Plant &
machinery
£
£
£
Cost
As at 1 April 2020
-
-
-
Additions
-
-
-
As at 31 March 2021
-
-
-
Depreciation
As at 1 April 2020
-
-
-
Charge for the year
-
-
-
As at 31 March 2021
-
-
-
Net book value
As at 31 March 2021
-
-
-
As at 31 March 2020
-
-
-
Investments
CCLA - Mary
Bastow - #3
CCLA - Mary
Bastow - #2
Market value
As at 1 April 2020
-
-
Revaluations
-
-
As at 31 March 2021
-
-
Historical value at at 31 March 2021		 Furniture &
fittings
£
42,458
-
42,458
42,458
-
42,458
-
-
UK listed
equities
£
1,080
1,054
2,134
-		 Computers &
equipment
£
185,561
3,001
188,562
178,207
5,689
183,896
4,666
7,354
COIF managed
funds
£
769,493
159,012
928,505
477,393		 Total
£
228,019
3,001
231,020
220,665
5,689
226,354
4,666
7,354
Total
£
770,573
160,066
930,639
477,393
UK listed equities The charity holds 1,148 ordinary shares in Barclays PLC which it received on 26 October 2000
in exchange for its holdings in Woolwich Plc under the takeover of the Woolwich by Barclays
PLC. The Woolwich shares were received when the building society converted to a bank.
COIF managed funds These investments are held in funds managed by CCLA Investment Management Limited on
behalf of COIF CharityFunds.

10 Stocks

Stocks
Stock - publications
Debtors: amounts falling due within one year
EMC Publication Education Direct
Emagazine debtors
Media Magazine debtors
Course debtors
Conferences debtors
Other debtors
Prepayments
Accrued income		 2021
£
114,203
114,203
2021
£
20,224
4,516
1,875
3,597
1,270
20,170
11,711
-
63,363		 2020
£
125,836
125,836
2020
£
40,647
919
580
6,510
2,198
11,269
8,377
186,682
257,182

11 Debtors: amounts falling due within one year

Page 19

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

12 Bank and cash in hand
Bank current account
EMC Publications account
COIF Charity Deposit Fund
Bank of Cyprus UK account
Santander deposit account
Paypal account
13 Creditors: amounts falling due within one year
Trade creditors
Payroll taxes
Pensions payable
Net salaries control
Accruals
Receipts in advance		 2021
£
372,927
1,869
93,362
85,000
-
12,236
565,394
2021
£
3,304
(532)
325
(279)
6,600
7,775
17,193		 2020
£
104,802
518
166,051
85,000
75,000
-
431,371
2020
£
7,451
(539)
355
429
6,597
-
14,293
14
15
**16 **		 The funds of the charity - current year
Restricted funds
Restricted income funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
The funds of the charity - prior year
Restricted funds
Restricted income funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
Designated funds - current year
Building fund		 Opening balance
£
-
296,208
1,281,815
1,578,023
1,578,023
Opening balance
£
-
496,208
994,562
1,490,770
1,490,770
Opening
balance
£
296,208
296,208		 Resources
arising
£
32,631
-
838,034
838,034
870,665
Resources
arising
£
-
-
869,956
869,956
869,956
Resources
arising
£
-
-		 Resources
utilised
£
(32,631)
-
(915,051)
(915,051)
(947,682)
Resources
utilised
£
-
-
(949,340)
(949,340)
(949,340)
Resources
utilised
£
-
-		 Other
movements
£
-
-
160,066
160,066
160,066
Other
movements
£
-
(200,000)
366,637
166,637
166,637
Transfers &
adjustments
£
-
-		 Closing
balance
£
-
296,208
1,364,864
1,661,072
1,661,072
Closing
balance
£
-
296,208
1,281,815
1,578,023
1,578,023
Closing
balance
£
296,208
296,208

Page 20

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

17
**18 **		 Designated funds - prior year
Building fund
Pension fund		 Designated funds - prior year
Building fund
Pension fund		 Opening
balance
£
296,208
200,000
496,208		 Resources
arising
£
-
-
-		 Resources
utilised
£
-
-
-		 Transfers &
adjustments
£
-
(200,000)
(200,000)		 Closing
balance
£
296,208
-
296,208
Building fund The building fund has been set up to provide funds for the charity to move to new
either bypurchase or leasing.		 premises,
Restricted funds - current year
Coronavirus Job Retention Scheme (CJRS)		 Opening balance
£
-
-		 Incoming
resources
£
32,631
32,631		 Resources
expended
£
32,631
32,631		 Transfers &
adjustments
£
-
-		 Closing
balance
£
-
-

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

Coronavirus Job Retention The CJRS was introduced to help employers who cannot maintain their current workforce Scheme (CJRS) because their operations are affected by the COVID-19 outbreak. The amount relates to the furlough claims made to HMRC during the year. All the amounts received from the claims have been paid to the employees who the claims relate to.

19 Net assets attributable to funds - current year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds
20 Net assets attributable to funds - prior year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General funds
639,097
742,960
(17,193)
1,364,864
General funds
481,719
814,389
(14,293)
1,281,815		 Designated
funds
£
296,208
-
-
296,208
Designated
funds
£
296,208
-
-
296,208		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
-
-
-		 Endowment
funds
£
-
-
-
-
Endowment
funds
£
-
-
-
-		 Total
£
935,305
742,960
(17,193)
1,661,072
Total
£
777,927
814,389
(14,293)
1,578,023

21 Taxation

The company is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

22 Post balance sheet events

There were no significant post balance sheet events.

Page 21

(A Charity Company Limited by Guarantee, company number 2466244)

F The English & Media Centre

Notes to the Accounts

for the year ended 31 March 2021

23 Pension commitments

The charity contributes to both employee defined contribution (DC) stakeholder pension and employee defined benefit (DB) schemes. The assets of the schemes are held separately from those of the charity in independently administered funds.

Contributions to the schemes were as follows:

Name of Scheme
Type
DB
DB
DC
Teachers Pension Scheme (TPS)
London Pension Funds Authority (LPFA)
Other
The unpaid contributions outstanding at the year end were:		 Paid in year
Balance at
year end
Paid in year
Balance at
year end
£
£
£
£
66,510
-
55,335
-
-
-
21,019
-
4,640
325
3,855
355
71,151
325
80,209
355
2021
2020
£
325 £
355
2021
2020

24 Other financial commitments

At 31 March 2021, the charitable company had total commitments under non-cancellable operating leases over the remaining life of those leases of £243,210 (2020: £325,713).

25 Transactions with trustees

There were no material transactions with the trustees during the year.

26 Contingent liabilities

The charity had no material contingent liabilities at 31 March 2021 nor at 31 March 2020.

27 Related parties

There were no disclosable related party transactions during the year.

28 Gifts in kind and volunteers

During the year the charity benefited from unpaid work performed by volunteers.

Page 22