202. Psychosynthesis & Education Trust Annual Accounts 2009

7/31/2019 202. Psychosynthesis & Education Trust Annual Accounts 2009.

1/22

-Company No. 3838253Charity N o . 1077365

Psychosynthesis and Education 'TrustFinancial Statements

31 August 2009


2/22

Psychosynthesis and Education TrustReference & Administration DetailsFo r the year ended 31 August 2009Company number 3838253Charity number 1077365Registered off ice an d 92-94 Toole) Streetoperational address LONDONSE 1 2T H

Trustees Lady Diana 1JhitmoreBrenda Squi esChris Burge: 3Hugh Lee A; arPeter HeinE m ma R edMichael Sh&:iHe len Sieroc 3John ShiersBarry Bartm,, n

PresidentChairTreasurer (resigned September 2009)

Principal staff Keith Silvest rJim Wallmar

Bankers

Solicitors

Auditors

Barclays Ba rk PLCSouthwark Branch29 Borough I ligh StreetLondonSE 1 1 LY

(appointed 18 March 2010)

(resigned 18 Ma rc h 2010)(appointed 18 March 2010)Director o f P rogrammesDirector of Operations and Deve lopmentand Company Secre tary

Bates, Wel ls & Braithwaite London LLP2- 6 Cannon ') treetLondonEC4M 6Y H

Sayer Vincei tChartered A countantsRegistered F iditors8 Angel GateC it y R oadLondonEC1 V 2SJ

1


3/22

Psychosynthesis and Education TrustReport of the TrusteesFo r the year ended 3 1 August 2009The Trustees of Psychosynthesis and Education Trust, who are also the Directors of the charitablecompany, present their annual report and the audited financial statements for the year ended 31August 2009 . T he financial statements comply with current statutory requirements, the memorandumand articles of association and the Statement of Recommended Practice - Accounting and Reportingby Charities.A word from the Chair:Old wine in new casks: the challenge to renewThe downturn in the economy has caused many businesses to go to the wall and companies tomake across-the-board redundancies. Charities are receiving fewer donations and the generaldemand on al l organisations is to look carefully at costs and expenditure, making economies whereth ey can . At the Trust we, t oo , have felt the pinch. With student numbers down we realised we wouldnot be sustainable unless we did s om e serious restructuring.In line with this we , as a bo ard, needed to ta ke swift a ctio n in order to satisfy our aud ito rs that werepresented a going concern and to sati sfy the bank that we had a sound business plan which mean tno t only that we could ride out the present financial crisis bu t that we would be viable into theforeseeable future.We ar e now part way through this restructuring. Times of change can be very difficult and decisionsmade do no t always meet with approval. As the adage goes: If it ain't broke, don't fix it.' There wasand is so much about PET that is hugely successful. Student feedback about the training andtrainers is consistently good. We enjoy a good reputation. However as a business model PET left alot to be desired. Despite the fact that the rentals from the building subsidise the training to the tuneof a hundred thousand pounds per annum, in lean years we create an unacceptable deficit becausethe organisation is not b e in g r un in the most efficient way.The challenge before us is how to put the organisation and training on a sound financial footing at thesame time as maintaining the good name that PET has built up over the years. In addition to this wewant to develop the activities, courses and partnerships that PET is involved in.There are several measures it was necessary to take. Firstly, in order to devise and see through asound business and organisational plan to secure the bank loan we needed, we streamlined themanagement and created a single director. Jim Wallman, with his experience in management andcharity work, has been doing a fine job here. Secondly, we looked at how the training is carried out.


4/22

Psychosynthesis and Education TrustReport of the TrusteesFo r the year ended 3 1 August 2009In addition we ar e undertaking a review 1the curriculum. This will happen over the coming monthsand is due for completion some time in 2:)11. A curriculum subcommittee including trainers, Trusteesand senior management will oversee th s process. The subcommittee has already taken on boardrecommendations of the programme bo e d. It will review the basic training programme, seeing whereit might become leaner without losing th E heart and essence of psychosynthesis. Any revised trainingprogramme will ful ly meet BACP ar j UKCP requirements. We will see how the AppliedPsychosynthesis course might be moulc d to offer t oo l s and perspectives applicable in varied fieldssuch as education and health care . As part of the activity of the development subcommittee we planto devise short courses for use in business and external organisations. The Continuing DevelopmentProgramme will adapt to people's percei ! ed training and growth needs.

If we step back and look at the larger pi( ture of today's economic crisis it is not al l bad. As a societywe are being made to question o ur unthinking pursuit of economic growth and materialism. As oursecurity and known structures are challr nged we become less complacent and more conscious ofbasic values, so we ask ourselves what s really important. It becomes essential to reframe financialchallenges as opportunities for new gro\n :h.Within PE T we have been forced to ex a nine where the fault lines lie. One t ha t has become evidento ve r r ec e nt m ont hs is a split running hrough t he o rgani sa ti on whe reby the training is se e'l asseparate from the administration, almos. as th ou gh th ere a re tw o ' camp s' o r ' side s. ' Viewed moreclosely this is a fal se percep t ion . Wi thou a s oun d administrative and organisational base we cannoto f fe r we l l- run courses and service our s,idents. By the same t oken w i thou t exper ienced and ski lledtrainers we w il l have no programme to offer. One o f the c ha lle ng es w e fa ce a t this juncture is aheal in g o f t he split be tween the var ious f nc ti ons that co l l ect ive l y make up the ' be ing ' that is PET .There are areas t ha t c an and will be fur ier developed . Marke t ing is on e of t hese . Fo r examp l e, wehave ha d severa l requests fo r informatici from people wh o have been made r ed und an t an d want toretrain. How c ou ld w e r e ach more of the, ,e peop le? How can we accommoda te th ei r ne eds?Research is another exciting area. I h z d the privilege of attending the excellent PET conference'Knowing me ? Knowing you?' in Sept e - nb e r 2009. The conference was hugely stimulating andinformative. The new developments in n uroscience ar e relevant to the practice of psychosynthesisand its 'whole-brained' approach. We co Id be at the forefront of these developments. Research andDevelopment need to become an integn I part of o ur programme. Keith Silvester will be heading upthe work in this direction and we welcorr a his skills and input. Ke it h w il l also be acting as consLltantto the curriculum subcommittee.Our sister organisations World Youth Service Enterprise (WYSE) and Children Our UltimateInvestment (COUI) are respectively train ng young people for leadership and providing an innovativeapproach for working with young peoplE who have slipped through the educational and vocationalnet. As the Charity Commission looks mure carefully at ho w designated charities practice their 'publicbenefit' ro le , P E T will need to demonsi ate how we benefit the wider society no t only by offeringcounselling and psychotherapy training, >ut also by showing how we mee t the needs of o ur diverseculture through courses and a counsellin l service that reach its more disadvantaged members.

3


5/22

Psychosynthesis and Education TrustReport of the TrusteesFo r the year ended 31 August 2009The ta sks and chal lenges before us are numerous. In th e c oming month s and years we will need totake s tock aga in and again in order to remain aware o f how we are operating and what we have tooffer. We will need to lo o k o ut into the wo rld and se e how we, as an organisation, can continue to beo f service to others and how we can adapt and be creative in our approach. As a legacy and livingthought f o rm psychosynthes is is to o vital to lo se . H o pe fully PE T will con tinue to be a vehicle andexpress ion o f psychosynthes is a t its best.

Brenda SquiresChair of TrusteesThe OrganisationThe Psychosynthesis and Educat ion T rus t is the l o ngest e stablis hed psy chosynthesis centre inBritain. It was founded in 1965 by'the father o f psychosynthesis', Roberto Assagio l i, together w ith S irGeorge Treve lyan, D r Martin Is rael and Geof f rey Leytham.The modern training programmes were developed from 1982 onwards by Diana Whitmore andothers, who studied under Assagioli, and who now continues her connection with the Trust as aTrustee.

The T rus t is a training and accrediting membe r o f the Humanis ti c and Integrati ve Psycho logy Sect iono f the Unite d Kingdom Counc il fo r Psychotherapy (UKCP) , and was one of the first counsell ingtraining organisations to be accredited by the British Asso ciatio n fo r Co unse lling (andPsychotherapy).The Trust is also a member of the European Association for Psychotherapy (EAP) and a foundingmember of the European Federation for Psychosynthesis Psychotherapy (EFIPP) . All Trust staffsubscribe to Codes of Practice and Ethics of these bodies. A team of qualified psychosynthesispractitioners teach and supervise students. The team members are drawn f rom various backgroundsand disciplines, including psychology, education, philosophy, religious practice, psychiatry,organisational work and management. The Trust's programmes ar e validated by the University ofEast London (School of Psychology).The Trust operates it s ow n Counse ll ing Re fe rr al Se rv ice which is particularly suitable for clients whomight be less conf ident about contacting a therapist directly. The Counselling Service Managerassesses and places clients with the counsellor who best fits needs and diagnosis. This


6/22

Psychosynthesis and Education TrusReport of the TrusteesFo r the year ended 3 1 August 2009Our a ims a re : work with peop le in life crisis suppo rt people as they f ind the i r ) lace within an in tr icate network o f relationships and withinsociety. promote the practice of transpen onal counselling and psychotherapy by providing a training

centre of excel lence. provide psychosynthesis educat onal techniques suitable for schools and adul t education. p romo te t he va lue of psycho-s p iritual work in counsell ing, psychotherapy and education

through research, dissemination an] publication.This is primarily achieved by :Training Psychosynthesis counsellors and therapists. The charity offers a validated, one year,part time Graduate Certificate in Psychc synthesis Foundations, a two year, part time Post GraduateDiploma in Psychosynthesis Counselling and a two year, part time Master of Arts in PsychosynthesisPsychotherapy. The Pos t Graduate Dipioma is accredited by the British Association of Counsellingand Psychotherapy (BACP), and the MP by the United Kingdom Counci l for Psychotherapy (UKCP).Al l three ar e accredited by the University of East London (UEL).Training Psychosynthesis and non-P ~ .ychosynthesis counsellors and therapists. The charityoffers a one ye ar, P ost Graduate Cortificate in Psychosynthesis Studies, as a professionaldevelopment course for non-Psychosynihiesis trained counsellors and also a one year, PostgraduateCertificate in Transpersonal & Inte gn tive Supervision: f rom an integrated and transpersonalperspective for Psychosynthesis and no i-Psychosynthesis trained counsellors and therapists. Bothare accredited by the University of East I ondon (UEL).Offering introducto ry courses in Ps yc hosynthesis to the public (such as the popular Essentialscourse) and on-going professional trainir g for graduates and o ther qual if ied therapists;Offering a counselling referral se rv ic ~ :, including a low-cost counselling service, for the generalpublic; andOffering a free or a subsidised rate fc the use of rooms at 92-94 Tooley Street for organisationsfurthering Psychosynthesis.AccessIt is important to us that access to trair ng is not restricted to those who ca n afford our fees. Webelieve our pupils benefit from learning vithin a diverse community. A great deal of learning occursthrough social interaction, conversation ind shared experiences which helps our pupils develop anunderstanding of the perspectives of oth( r people that will be vital in their adult lives.Ou r bursary po l icy together with our 'Tei ching Links' programme contribute to a widening o f ac.-essto the educat ion we offer and the facil i tie , we enjoy.

5


7/22

Psychosynthesis and Education TrustReport of the TrusteesFo r the year ended 31 August 2009Teaching LinksOur Schoo l is a part o f a wider community and we are keen that our staff and pupils participate. OurSchoo l also offers a re so urc e to supp ort a range of educational activities for the benefit o f localchildren attending state schools and their teachers.Our Governors are committed to deve lo p ing our ' Teach ing L inks ' p rogramme o f c o ope ra tio n andjoint working with l o ca l s ta te junior and secondary schoo ls.The activities undertaken and the suc ce ss o f our 'Teaching Links' programme are explained in thereview of act iv it ies and achievements section o f this report.Bursary policyThe Governors view our bursary awards as important in helping to ensure children f rom families whowould otherwise not be able to afford the fees can access the education we offer . Our bursaryawards are available to al l who meet our general entry requirements and are made solely on thebasis of parental means o r to relieve hardship where a pupil's education and future prospects wouldotherwise be at risk for example in the case of redundancy. In assessing means we take a number o ffactors into consideration including family income, investments and savings and familycircumstances for example dependant relatives and the number of siblings.However, our Schoo l does no t have a large endowment and in funding our awards we have to bemindful that we must ensure a balance between fee-paying parents, many o f who m makecons ide rable pe rsona l sac rifices to fun d th eir ch ild's education, and th os e b ene fiting from theawards.The bursary awards range from 10% to 50% remission of fees. We also have a hardship fund thatsupplements bursary awards to pay for co-curricular activities, equipment and school trips.Information about fee assistance through bursaries is provided to all applying to the School. We alsoadvertise the awards each summer in the local press and at local libraries. Further details o f o urbursary policy and how to apply are available on our website.The success o f our bursary scheme is explained in ou r review o f activities and achievements sect ionof this report.Constitution and ManagementThe Psychosynthesis and Education Trust is a registered charity and charitable company limited by


8/22

Psychosynthesis and Education Trus'Report of the TrusteesFo r the year ended 31 Auaust 2009Newtrustees have an induction p rocess , and where they ar e no t already familiar with the backgroundand principles of psychosynthesis they attend a short training course. Existing Trustees reviewavailable opportunities for networking arid training. In the last year members of the board atteidedthe Annual Charity Conference.Whe re app rop ri at e T rus te e s are inv it ed :o attend other seminars and conferences related to charityorganisation and management.No Trustees have any bene fi c ia l i nte res t n the charity .The Trust is associated with the Psych osynthesis Professional Association (PPA), a not for profitl imited company, and the two Executive )irectors of the Trust sit on the PPA Board of Directors in anex-officio capacity.Review of activities 2008/09Counselling & Psychotherapy Traininc iThe T rus t' s professional counsell ing & p ~ ychotherapy training student numbers increased with a totalof 115 new studen t en ro lmen ts (1 % do w i from 116 in 2007/08).This does not include 108 new student on the introductory Essentials course, which runs ssventimes a year (2% up f rom 106 in 2007/0EThe Trust continues to have two intake: of the 3-year PG Diplomas (in two different formats). TheTraining in Supervision course and ( raduate Certificate in Psychosynthesis Counselling andTherapy, and the MA in Psychosynthesi; Psychotherapy a ll r an successfully.33 Students were awarded Postgraduz te Diplomas and 4 s tudent s suc cess fu ll y c omp le t ed the irMaste rs course in 2008/09. This compai ad with 20 and 8 respect ive ly in 2007/08.Graduate studies ProgrammeWe have had a wide range of events in his programme aimed at graduates and others interested inprofessional development. Th e program ne involved an event at least once a month.Training & Research ConferenceThe Trust h e ld it s fourth annua l r e sea rc i conference in September 2009 with an attendance of 40participants. This year's theme was 'K owing Me Knowing You'- evidence for psychosynthesis inresearch-conscious t imes.This was opened to a wider audience th ~ t just our own staff and students.Counsell ing ServiceThe counsell ing service continued to del ie r psychosynthesis counsell ing to the general public, someof it low cost. The overall number of d l i E ts increased a l i t t l e from 86 in 2007/08 to 111 in 2008,'09 -o f which 52% were low cost clients ( i n c r e ssing f rom 38% in 2007/08).Taste r DayA new, one-day 'taster' course wa s deve oped, aimed at introducing newcomers to the central i dea sof psychosynthesis. This ran four times i 2008/09.

7


9/22

Psychosynthesis and Education TrustReport of the TrusteesFo r the year ended 31 August 2009Essentials Out of LondonThe first E ssent ia ls course to be run o utside L ondon fo r s ome years was held at Findhorn Co l lege inScot land and ran very successful ly in February 2009. Planning started on a second Essentialscourse o ut o f L o ndon, based at Schumacher Col lege in Devon.Future developments Developing fresh workshops aimed at those working in business. Developing Partnership working further and re-engaging with existing partnerss Delivering new coursess Extending the 'Essentials out of London' programmes Revising, refreshing and developing our curriculumPublic BenefitThe Trustees have referred to the guidance conta ined in the Char ity Commiss ion 's genera l guidanceon public benefit when review ing the chari ty 's aims and object ives and in planning its future activities.As befits our charitable s ta tus we are looking at ways in whic h we can be o f greater service to thecommun ity . We intend to inc re as e th e a va ila bility o f low cos t counsel l ing, bursar ies and internshipsas and when w e c an affo rd to do so . We are keen to expand our responsiveness to social need byadapting and creating new sho rt c ours es fo r the pub lic a longside the training. We are also looking toincrease the d ive rs it y o f our student body s o th at it is more r epr esen ta tive o f the popu la tion a t large.Income generation and fundraisingSome income is generated by book sales and publishing; a small amount of capitation funding isreceived f rom the University of Eas t London; but most of the Trust's income is generated by tuitionfees and letting the building. The Trust has not invested resources in fundraising during the financialyear.Financial PositionThe financial results for the year ended 31 August were better than those in the prior year, but still


10/22

Psychosynthesis and Education Trus`Report of the TrusteesFor the year ended 31 August 2009Reserves PolicyTh e Trustees have re viewed their re s rves policy and aim to c omm it a s much as possible tofur the r ing the chari ty 's ob jec ti ves , while retain ing f inancial stability and t he p o tent ia l t o respond tonew opportunit ies.Th e main role of reserves is to permit thc charity to manage change effective ly , particularly where theregulato ry and educational f rameworks v i thin which the Trust operates undergoes change.Currently the r e se rve s p o li cy is to re ain six m onths operating costs, covering ke y staff andoverheads , amount ing to some 165k. This l eve l has no t ye t been achieved and th e le ve l o f fr eereserves at the year en d s tood at a negaiive 99k.RiskThe Trustees have examined, in conjunc tion with t he sen io r management t eam , the signif icant risksthat might af f ec t the continued operation D f the charity.They maintain a risk register, and this is reviewed regularly to ensure that al l risks have beenproperly identified and amelioration p la n: a re in place where appropriate.Responsibil ities of the TrusteesCompany and charity law require the Tn stees to prepare financial statements for each financial yearthat give a true and fair view of the statc ! of affairs of the charity, and of the surplus or deficit c f th echarity for that period. In preparing thes( financial statements the Trustees have :

selected suitable accounting policie s and then applied them consistently made judgements and est imates th it are reasonable and prudent stated whether appl icable accountii g standards and s tatements o f recommended prac ti ce havebe en f ol low ed, s ub je c t to any m E terial departu res d isc losed and explained in the financialstatements p repared the f in an c ia l s ta tement s on the going c once rn basi s unless it is inappropriate toassume that the charity wi l l cont inu ! o n that b as is

The Trustees have overall responsibility for ensuring that the charity has appropriate systems ofcontrols, financial and otherwise. They re also responsible for keeping proper accounting recordsthat disclose with reasonable accuracy it any time the financial position of the charity, and enablethem to ensure that the financial stateme its comply w it h th e Companies Ac t 2006.Each Trustee confirms to the best of hi; (her knowledge there is no information relevant to the auditof which the auditors ar e unaware. The Trustees also confirm that they have taken al l necessarysteps to ensure that they themselves ar e aware of al l relevant audit information and t ha t t hi sinformation has been communicated to t e auditors.

9


11/22

Psychosynthesis and Education TrustRepor t of the TrusteesFo r the year ended 3 1 August 2009The Trustees ar e also responsible for safeguarding the assets of the charity, and hence, for takingreasonable steps for the prevention and detection of fraud and other irregularities, and to providereasonable assurance that:

The charity is operating efficiently and effectively; I t s assets are safeguarded against unauthorised use or disposition;s Proper records are maintained and financial information used w ithin the c harity o r fo rpublication is rel iable; and The charity compl ies with relevant laws and regulations.The systems o f internal control are designed to provide re as onab le , b ut no t a bs olute , assuranceagainst material misstatement o r loss. They include:s A strategic plan and an annual budget approved by the Trustees;

s Regular consideration by the Trustees o f financial results, variance from budgets, non-financialper formance indicators and benchmarking reviews; Delegation of authority and segregation of duties; ands Identification and management of risks.AuditorsSayer Vinc ent we re reappointed as t he char itab le company's aud itors during the year and haveexpressed the i r wi ll ingness to continue in that capacity.

Approved by th e T ruste e s o n 20 May2010 and signed on their behal f by

Brenda SquiresChairofthe Trustees


12/22

Independent Auditors' ReportTo the members ofPsychosynthesis and Education Trus(We have aud it ed the f in an c ia l s ta tement o f Psychosynthes is and Education Trust fo r the year ended31 August 2009 wh ich compr is e t he stat( ment o f f inanc ia l ac ti vi ti es, ba lance shee t and re la ted not es .These financial statements have been I repared in accordance with the accounting pol ic ies se t o u i :therein.This report is made solely to t he char i~ ab le company's members, as a body, in accordance withsection Chapter 3 Part 16 of the CompE iies Act 2006. Our audit work has been undertaken so thatwe might state to the charitable compan,!'s members those matters weare required to state to the min an auditors' report and for no other )urpose. To the fullest extent permitted b y la w, we do no taccept o r assume responsibility to any )n e other than the charitable company and the charitablecompany's members, as a body, for o ir audit work, for t his r ep o rt , or for the opinions we haveformed.Respective responsibilities of the Tru.ntees and auditorsThe re sp ons ib il it ie s o f t he T rus te e s (wh ) are also the d ir e ct o rs o f Psychosynthesis and EducatiorTrust for the purposes o f company law) or preparing the annual report and the f inanc ial s tatementsin accordance with appl ic abl e l aw anc United Kingdom Accoun ting Standards (Uni ted KingdomGeneral ly Ac cept ed Accoun ti ng P ra cti c:; ), a re s et out in th e s ta temen t o f r es po ns ib il it ie s o f theTrustees.Our responsibility is to audit the financial statements in accordance with relevant legal and regulatoryrequirements and International Standard ; on Auditing (UKand Ireland).We report to you our opinion as to whet ier the financial statements have been properly prepared inaccordance with United Kingdom Gene ally Accepted Accounting Practice, have been prepared inaccordance with the Companies Act 2( 06 and give a true and fair view. We also report to yo uwhether in o ur opinion the information c ve n in the annual report of the Trustees is consistent withthose financial statements.In addition we report to you if, in ou opinion, the charitible company has not kept adequateaccounting records, if the charitable co i ipany's financial statements ar e not in agreement with theaccounting records and returns, if we ! ave not received al l the information and explanations werequire for our audit, o r if certain d is c k su re s of Trustees' remuneration specified by la w a re notWe read the annual report of the Truste; s and consider the implications for our report if we becomeaware of any apparent misstatements wi hin it.

Basis o f op in ionWe conducted our audit in accordance with International Standards on Auditing (UK and Ire and)issued by the Auditing Practices Board . k n audit includes examination, on a test basis, of evidencerelevant to the amounts and disclosures in the financial statements. It also includes an assessmentof the significant estimates and judgeme Its made by the Trustees in the preparation of the financialstatements, and of whether the accoun ng policies are appropriate to the charity's circumstances,consistently applied and adequately disc )sed.

1 1


13/22

Independent Auditors' ReportTo the members ofPsychosynthesis and Education TrustWe planned and per formed ou r aud it so as to obtain al l the information and explanations whic h w econsidered necessary in order to provide us with sufficient evidence to give r easonab le assurancethat the financial statements are free from material misstatement, whether caused by fraud or otherirregularity o r error. In forming our opinion we also evaluated the overal l adequacy of the presentationo f information in the financial statements.OpinionIn our opinion:

the financial statements give a true and fair view of the state of the charity's affairs as at 31August 2009 and of its incoming resources and application of resources, including its incomeand expenditure, for the year then ended;

the financial statements have been properly prepared in accordance with United KingdomGenerally Accepted Accounting Practice;s the financial statements have been properly prepared in accordance with the Companies Act

2006; and- the information given in the annual report o f the Trustees is consistent with the financial

statements.

8 Ange l GateCity RoadLONDONE C1 V 2SJHelen El l iot tSenior Statutory Auditor

for and on b eha lf o f Saye r Vincent, Statutory Auditors 30 June 2010


14/22

Psychosynthesis and Education TrustStatement of Financial Activities (Inco porating an income and expenditure account)For the year ended 31 August 2009

2009 2008

Incoming resourcesNotes

Voluntary & other income:Donations an d giftsInvestment incomeOther income

Incoming resources f rom charitable activi ies:Programmes and CoursesCounselling servicesRoom rentalsBook sales

Incoming resources f rom activities fo r gerierating funds:Property income

Total incoming resourcesResources expendedCost of generating funds:Charitable activities:

Programmes and CoursesCounselling servicesRoom rentalsGovernance cos ts

Total resources expendedNet outgoing resources for the yearOther recognised gains and lossesNet loss on investment assets

Net movement in fundsFunds at the start of the yearFunds at the end of the year

2

35

46 5

9,516 2,262

519,514 479,30019,482 10,72589,721 90,1475,390 5,726

109,108 76,140753,196 664,300

25,538 35,924667,128 584,121

42,160 44,03636,983 35,33515,420 10,130

787,229 709,546

(34,033) (45,246)

181.

(34,033) (45,427)363,549 408,976329,516 363,549

All of the above results ar e derived fro i i continuing activities and ar e unrestricted. There were noother recognised gains o r losses other th in those stated above . Movements in funds ar e disclosed innote 12 to the financial statements.

13


15/22

Psychosynthesis and Education Trust (Limited by guarantee)Balance SheetAs at 31 August 2009

Fixed assetsTangible assets

Company Number: 3838253

No te 2009 2008F -

7 955,279 969,875Current assetsStocks 8,258 8,258Debtors 8 79,753 83,619Cash at bank and in hand 11,240 102,78599,251 194,662Creditors: Amounts falling due within one year 9 (233,269) (264,922)Net current ( liabilities) (134,018) (70,260)Total assets less current liabilities 821,261 899,615Creditors: Amounts falling due after more than one 11 (491,745) (536,066)yearNet assets 329,516 363,549

FundsUnrestricted funds

General funds 12 329,516 363,549Tota l funds 329,516 363,549

Approved by the Trustees on 20 May 2010 and signed on the ir behal f by


16/22

Psychosynthesis and Education TrustNotes to the financial statementsForthe year ended 31 August 20091. Accounting policies

Th e financial statements have been I repared under the historical cost c on vent ion . The financialstatements also comply with the State nent of Recommended Practice for Accounting by Chariiiesand the Companies Ac t 2006.IncomeTh e charity's income is de riv ed fr om s ix main sou rces : programmes and cou rses , counselling,ro om h ir e, b oo k sales, donat ions and i~rvestment income.Recognition of programmes and co L *ses, counselling and room hire income is on a accrualsbasis.Where the income is received in ac vance of programmes and courses be in g p e r fo rmed andrental income charged in advance, th(, charity recognises, as deferred income, a l iab i li ty equa l tothe amount received, representing its obl igat ions to carry o ut th e programmes and c o ur se s . T h atliabil i ty is reduced and reported as inc ime as the programmes and courses ar e performed.Donations are included in income when receivable.Income f rom investments is recognise I on a receivable basis.Fund accountingUnrestricted funds are available for i se at the discretion of the Trustees in furtherance of thegenera l ob j ec t ives of the charity.Desognated funds ar e unrestricted fun( s earmarked by the Trustees for particular purposes.Fixed assetsAll fixed assets are initially recorded a cos t .DepreciationDepreciation is calculated so as to wn e o ff the cost of an asse t , l e s s its est imated residual valae,over the useful economic life of that a: se t as follows:

Freehold prope rty 2% on costFurniture & Fittings 4 years straight lineOffice Equipment 4 years straight linePlant and mach in e ry 10 years straight lineStocksStocks have been valued at the lower )f cos ts and ne t realisable value.

15


17/22

Psychosynthesis and Education TrustNotes to the financial statementsFor the year ended 31 August 20091. Accounting policies (continued)

Resources expendedExpenditure is recognised on an accruals basis as a liability is incurred.Costs o f generating funds comprise the costs associated with the running of r oom rentals.Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitiesand serv ices for its beneficiaries.Governance costs include those costs associated w ith mee tin g the constitutional and statutoryrequirements of the charity and include the audit fees and an y costs l inked to the strategicmanagement of the charity.All c o sts a re allocated between the expenditure categories o f the statement of financial activitieson a basis designed to reflect the use o f the resource.The following costs ar e allocated directly to a particular activity:Staff, trainers' fees and costs

BursariesCounselling service

Al l other costs are appo rt ioned on an appropriate basis, based on activity.Operating leasesRentals on operating leases where substantially all of the risks and rewards of ownership remainwith the lessor ar e charged to the statement of financial activities on a straight l in e bas is over theper iod of the lease.

2. Investment income2009 2008Total Tota l

Bank interest receivable 2,2622,262


18/22

Psychosynthesis and Education TrustNotes to the financial statementsFo r the year ended 31 August 20093 . R e s o u r c e s Expended

Costs of generating funds:Advertising and marketing costs

Costs directly attributable to charitable activities:Staff, trainers' fees and costsBursariesCounselling servicePrinting and stationeryPost and telephoneInsuranceSundriesRates and utilitiesRepairs, maintenance and cleaningDepreciationComputer consumablesBank chargesConsultancy feesInterest payableBa d debt provisionAudit feesOther professional fees

Costs ofgenerating Training & 2009 2008

funds CPD Counselling Room Rental Governance Total Total

25,538

473,908 20,706 15,529 7,50021,597 - - -5,534 692 692

10,572 1,322 1,3228,712 1,089 1,08932,206 4,026 4,02614,422 1,803 1,80346,308 5,789 5,78923,191 2,899 2,89911,328 1,416 1,41678 6 98 982,312 289 28916,252 2,031 2,031

7,920

25,538 24,777

517,643 421,94421,597 16,583

- 4,4816,918 21,397

13,216 7,07210,890 10,91840,258 16,17018,028 17,67357,886 65,39428,989 27,11414,160 13,325

982 7752,890 9,558

20,314 37,372- (4,379)

7,920 8,225- 11,147

25,538 667,128 42 ,160 36,983 15,420 787,229 709,546

17


19/22

Psychosynthesis and Education TrustNotes to the financial statementsFo r the year ended 31 August 20094. Trustees' remuneration

The trustees ne ither rece ived nor waived any emoluments dur ing the year (2008: nil ) .No t rustee was re imbursed fo r any expenses during the year (2008: 250)

5. Net outgoing resources for the yearThis is stated after charging:

Total Total2009 2008

Auditors' remunerationAudit 7,920 8,225Operating lease rentals - Equipment 30,180 38,895Depreciation (note 7) 28,989 27,114

6. Staff costs and numbersTotal Tota l2009 2008

Wages and salaries 237,759 213,614Other s ta ff cos ts 9,000 -Social security costs 22,606 20,526

269,365 234,140No employee received emo lumen ts o f more that 60,000 (2008 - none).The ave rage number o f empl o yees during the year, ca lcu la ted on the bas is o f full t ime equivalents

20 0 9 20 0 8No. No.

Counselling 0.4 1Training and CPD _.2 8


20/22

Psychosynthesis and Educa ti on Trus tNo t e s to the financial statementsFo r the year ended 31 August 20097. Tangible f ixed assets

COSTA t 1 September 2008Addit ions in yearAt 31 August 2009DEPRECIATIONAt 1 September 2008Charge fo r the yearAt 31 August 2009N E T BOOK VALUEAt 31 August 2009At 1 September 2008

F r, !eholdI and & Plant & Furniture & Office

Buildings Machinery Fixtures Equipment Total !:1,1: 7,779 16,857 47,065 6,093 1,20'7,794

- 3,228 9,900 1,265 1 -4,3931,1 7,779 20,085 56,965 7,358 1,22,2,187

1 8,949 10,114 42,763 6,093 237 ,9192,756 2,008 3,909 316 23,989

2(1,705 12,122 46,672 6,409 266 ,908

9'J6,074 7,963 10,293 949 955 ,2799! 18,830 6,743 4,302 - 969,875

Al l tangible f ixed assets ar e used for direct charitable purposes.The trustees believe that the markel value of the Freehold Land and Buildings is in excess o f thenet book value.

8. Debtors2009 2008 f :

Trade debtors 57,296 23,579Other debtors 10,775 7 ,822Prepayments an d accrued income 14,460 49 ,996Bad Debts Provision 2,778 _(2,778)

79,753 8'3,619

19


21/22

Psychosynthesis and Education TrustNo t e s to the financial statementsFo r the year ended 31 August 20099. Creditors: Amounts falling due within one year

Trade creditorsOther creditorsBank overdraftBank loan (note 11)Other taxation and social securityAccrualsDeferred income

10. Deferred income - courses

2009 2008

76,275 21,57611,150 11,0296,193 -35,336 -6,517 6,1147,988 8,48189,810 217,722233,269 264,922

2009 2008

Balance brought forward 217,722 155,710Cash received 288,865 442,980Student fees recognised in the year (416,777) (380,968)Balance carried forward 89,810 217,722

11. Creditors: Amounts falling due after more than one year

Bankloan

2009 2008

491,745 536,066491,745 536,066

The bank loan is a mortgage with Northern Rock plc repayable in full in 2022. A three yearrepayment holiday came to an end in the year meaning capital repayments recommenced. A newpayment holiday has been secured from November 2009. Interest is payable at a rate of 1.50%above the Northern Rock base rate. The loan is secured by a legal charge over the charity'sproperty at 92-94 Tooley Street, London, SE 1 2TH . This is repayable as follows:


22/22

Psychosynthesis and Education TrustNo t e s to the financial statements

Fo r the year ended 31 August 200912. Statement o f funds At 1 At 31

September Incoming Outgoing Au g us t2008 re so urc es re so urc es 200 9 ;EGene ra l Reserve 363,549 753,196 (787,229) 329,51 1 3

Total unrestricted funds 363,549 753,19 6 (78 7,2 29 ) _ 329,516

13. TaxationTh e charity is exempt f rom corporation ta x as al l its income is charitable and is appl ied forcharitable purposes.

14. Related party transactionsDuring the year Keith Si lves te r (Din. c to r of Programmes ) was paid 8,405 in fees relating to thep rov is ion o f tuto r ing serv ices. There were no other related parties transactions during the year.

15 . CommitmentsOperating leasesAt 31 August 2009 the charity h E 1 the following annua l comm itmen t under non-cancellableoperating leases:

Office equipment2009 2008 E

Operating leases which expireWithin two to five years 22,306 14,705

16. Company limited by GuaranteeEach membe r o f the charity has gu~iranteed t o con t ri bute up to 1 in the e ve nt o f a winding up.

21

Documents

202. Psychosynthesis & Education Trust Annual Accounts 2009