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204. Psythosynthesis & Education Trust Annual Accounts 2008.

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  • 7/31/2019 204. Psythosynthesis & Education Trust Annual Accounts 2008.

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    RE~~W I E `: . i

    PSYCHOSYNTHESIS AND EDUCATIONTRUSTFINANC IA L STATEMENTS31 AUGUST 2008

    s a y e r v i n c e n tconsultants and ad77900 r " s

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTREFERENCE & ADMINISTRATIVE DETAILSFOR THE YEAR ENDED 3 1 AUGUST 2 0 08Company number 3838253Charity number 1 0 7 7 3 6 5Regis tered of fice an d 92 -94 Tooley Streetoperational a d d r e s s LONDONS E 1 2TH

    Trus tees Lady Diana Whitmore PresidentBrenda Squires ChairpersonChris Burgess TreasurerHugh Lee Aska rPeter HeinMichael ShawHe len S ie rodaJohn Sh ie rs

    Principal staff Keith Silves te r D irec to r o f Prog rammesJ im Wal lman Director of Operat ions and Deve lopmen ta nd Compan y Se cr e ta r y

    Banke r s

    Solicitors

    Auditors

    Ba r clays Bank PLCSouthwark Branch29 Borough H i g h StreetLondonSE1 1 LY

    Bates, Wells & Braithwaite2-6 Cannon StreetLondonEC4M 6Y H

    Sayer VincentCha r tered AccountantsRegistered Auditors8 A ng el GateCity RoadLondonEC 1V 2SJ

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTRepo r t of the Trus teesFOR THE YEAR ENDED 3 1 AUGUST 2008The Trustees o f Psychosynthes is and Educat ion Trust, who a re a l so th e D ir ec to rs o f th e char i tab lecompany , present th eir a n nua l repor t and th e aud i ted fin anc ia l s ta t emen ts fo r th e yea r ended 3 1August 2008 . Th e fi nanc ia l s t a tement s comp ly w it h cur rent s ta tu to r y requi remen ts , th e memoranduma nd a rtic le s of assoc ia t ion and th e Statement o f Re commend e d P ra c tic e - Account ing and Repo rt in gby Char i t ies .A w ord f rom th e Cha i r :You canno t swi t ch on the r a d i o or TV th es e d ay s without be ing assailedb y news of the financial crisis facing the world; a deepen ing recessionlooks ever more likely and with it a d own tu rn in all sectors of thee co no m y. T his is hard to ignore. The l ikely knock -on effects are anincrease in un em ploym ent, a potential rise in crime, a slump inmanufacturing and retail, a nd a g en era l sense of malaise.

    I am reminded , though, o f Assagio l i 's comment s when he wa s impr isoned in 1 938 in Mussoloni 'sItaly fo r being a Jew and because of his internat ional ist views.

    I quote : 'I rea l i sed I was f ree to take one o f m any a t t i tudes t owa r d the si tuat ion, to g ive o ne v a lue orano the r to it , to uti l ise it in one way or ano t he r . I could r eb el in w a rd ly a nd cu r se , or I could submi tpass i v e l y , vege t a t i n g ; or I c ould ta ke th e s i tua t ion in a spor t i ng way a nd w ith a s en s e of humou r ,cons i d e r i n g it a s a no ve l a nd i nt e re s t in g ex pe ri e nc e . I could ma k e o f it a r e s t cure or a per iod o fi nt e nse t hi n ki n g, e ith er a b out p e rs o n a l m a t te r s o r abou t ph i l o soph i ca l and scient i f ic p rob l ems ; or Icould take a d v a n t a g e of the s i tua t ion to unde r t ake a pe r s o n a l psycho log i ca l t r a in ing ; or , f inal ly I cou ldma k e it into a sp i r i tua l re t rea t . I ha d th e p ur e c le a r pe rcep t i on that th is w a s e ntir ely my ow n affair ; t h a tI was f ree to choo se a ny or a ll o f t h ese ac t iv i t ie s ; t ha t this choice wou ld have un a vo id a b l e e f fe c t swh i ch I could f o r e see a nd fo r wh i ch I was fu ll y r e s po n s i bl e . The r e wa s n o d oub t in my mind abou tth is in h e re n t f r eedom a nd pow er a nd thei r i nhe ren t pr iv i leges a nd respons ib i l i t i es . 'Whi l e few o f us h a ve Assag i o l i ' s equan imi t y o f sp i r i t a nd inne r w i s d om , it is wor t h reca l l ing tha t , ine s s en ce , when a ll e lse is t a ken a wa y, we reta in co n s c i o u sne s s a n d w ill. W e d o h ave m ore ch oic ea n d freedom t h an we a re gene ra l l y a w a r e o f . As a tr a in ing bo dy a nd ce ntre o f ps ycho s yn t h e s i s wewil l of cou rse be a f fec ted by wh a t is go ing on th e w or ld a t la rg e, yet it is up to us how we c ho o se tor e spond . Change engende r s fea r ; we wan t to cl ing to wh a t we know a nd fee l comfo r t ab le with . Butwe ca n choo se to a cknow l e dge our own a n d o th ers ' f ea r s a n d then m ove be yo nd them , no t in abl ind , defensive way but r ea l i s ing that we wi l l ha v e to a d a p t a n d be f lexible, not only to surv i ve a s a no rgan i s a t i on but to con t i nue to be o f s e r v ic e , wh ich is wh a t we a re there for. W e will a l s o need to bea t tuned to th e di f fe r ing n e e d s a nd c i r cums tances of t h ose com ing t h rough our doo r s .Over th e l a s t year we t rus tees ha ve been putting our h e a d s together to env i s i on th e future o fPsycho s yn t h e s i s a n d Educa t i on Trus t . Wh a t we cam e up with , in d iv id u a lly a n d t hen c o lle c ti ve ly , i swor t h r e co r d i ng . W e s e e th e trust c o n tin uin g a s a tr a in in g b o d y but in add i t ion deve lop i ng a s a huba n d fa c ilita tin g c en tr e for other o rgan i s a t i on s work ing in th e commun i t y . Th is wi l l t ake t ime a ndr e s ou r c e s , but we ha v e s t a r t ed on the j ou rney . In appo in t i ng J im Wa l lm a n we a d d e d a de ve l o pmen tbrief to h is role. In add i t i on , a d e v elo pm e nt s u bc omm itte e h a s been f o cuss i ng on s uch is sues a s theapp l i e d s tr e a m w ith in th e t r a i n ing , th e c rea t i on o f m o re E s s en tia ls g roups ou t s i de Londo n , a lec turese r i e s b eg in nin g th is a utum n , a n d fu r the r ing lin ks w ith c omm un it y o r g a n is a t io n s , s uch a s the Can c e rResou r c e Cen t r e in Wan d swo r t h .

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTRepo r t of th e T r us t e esFOR THE YEAR ENDED 3 1 AUGUST 2008A l l this i s happening s lowly. The ma ins tay o f Psychosynthes is and Education T rus t rema ins th ecounsel l ing a nd psychotherapy training; after al l , t ha t i s wha t we a re good a t a nd t ransfo rmat ions ta r ts with th e ind iv idual . But th ings a re moving. If you have a ny i deas how th e t rus t might deve loptowa rd s g re a te r commun it y i nv o lv emen t do please make yourse l f and your in terests known to th et rustees o r th e deve lopment subcommi tt ee via myse l f o r J im Wa l lman .

    B re nd a Squir e sC ha ir of TrusteesS t ru c tu r e, g o ve rn a n ce a nd man a g eme n tTh e Psychosynthes is a nd E duca tion T rus t i s th e longest e s tab lis hed p sy cho syn the s is cent re inBritain. It wa s founded in 1965 b y ' the fa t he r o f p s y cho s yn the s is ' , Rober to As sag io li, to ge the r w ith S irGeo rge T reve ly an , D r Ma rtin Is r a el a n d Geo ffr ey Leytham.T he m od ern tr a in ing p r o g r amme s we r e deve loped from 1 982 o nwa r d s by Diana Wh i tmo re a ndo the r s , w h o s tud i e d un d e r As sag i o l i , a nd w ho now continues he r connec t i on with th e Trust a s at rus tee .The Trust i s a t ra i nin g and a cc re d it in g member of th e Humanis t ic a nd Integrat ive Psychology Sec ti onof th e Unite d K in gd om Counci l fo r Psychotherapy (U KCP), a nd wa s one of th e fi rs t counse l li ngtraining organisa t ions to be accred i ted b y th e Br itis h A s s oc ia tio n fo r Counsel l ing (andPsychotherapy) .The Trust is a l s o a membe r o f th e Eu r o pe an Assoc i a t i on fo r Ps y ch o t h e r a p y (E AP ) a nd a found ingmember o f th e Eu r o pe an Fede ra t i on for Psycho s yn t h e s i s Ps y ch o t h e r a p y (EFPP) . All Trust staffsubscribe to Cod e s o f P ra c tic e a nd Eth i cs o f t h ese bo d i e s . A t eam of qual i f ied psychosyn t hes i sprac t i t ione rs teach a nd supe rv i s e s t u den t s . The te am m e m be rs a re d r aw n from va r i ou s ba ckg r ound sa n d d isc ip l ines , in clud in g p s yc ho lo gy , educa t i on , ph i l o sophy , re l ig ious prac t ice , psy ch i a t r y ,o rg a n is a tio n a l w o rk a nd m a na ge m en t. The Trus t ' s p r o g r amme s a re va l i d a t e d by th e Un ivers i t y ofEa s t L o n do n (Schoo l of Psycho logy ) .The Trust ope ra t e s it s own Cou ns e llin g Re fe r r a l Se r v ic e wh ic h is p a r tic ula r ly s u ita b le for cl ients w homigh t be l e s s con f i d en t abou t con tac t i ng a t h e r ap i s t d i rec t l y . T he C oun se lling S er vic e M a na ge ra s s e s s e s a nd p la ce s cl ients with th e counsellor who be s t fits their n e e d s a nd d i agnos i s . Th isse r v i ce a l s o i nc ludes lo w c o s t counse l l i ng fo r t h ose o n lo w i n c omes .Objectives and ActivitiesThe Trus t ' s ma in pu rpose is to g a in r ec og nitio n fo r th e cen t r a l role o f s ou l a nd Se l f in psycho logy a ndto r en ew th e s oul in th e eve r y d a y life of i nd iv idua ls , the f am i l y , g r oup s , o rgan i sa t i ons a n d soc ie t y .Our voca t ion is to address the nee d s of th e s tuden ts a n d c l ients in a wa y that is p ragma t i c a s wel l a ssp i r i tua l a n d r e l evan t to e ve ry d a y l ife. W e a cknow l e dge both pain a nd poten t i a l in the humanexpe r i en ce .

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTRepo rt of the Trus teesFOR THE YEAR ENDED 31 AUGUST 2008Our a i m s a re : wo r k with p eo ple in l ife crisis suppo r t people a s they find th eir p la c e within an in t ri ca te ne two rk o f r e la t io n s hip s an d w it hi nsociety. promote the practice of transpersonal counselling and psycho the rapy by provid ing a training

    centre o f excellence. provide psychosynthesis educational techniques su it ab le fo r schoo l s and adu l t educat ion. promote the value of psycho-spiri tual work in coun se ll in g , p s y cho the ra py a n d e d uc a tio nth rough research, d issemina t ion and publ ica t ion .This is pr imar i l y a c hie ve d b y:Training Psychosynthesis counsel lors an d therapists. Th e c ha r ity offers a va li d a te d , o ne year ,pa r t t ime Gradua te Cert i f icate in Psychosynthes is Foundat ions, a tw o year , par t tim e P os t Gradua teDip loma in Psychosynthes is Counsel l ing, a n d a tw o y e a r, par t t ime M as te r of Arts in Psychosynthes isPsycho the rapy. The Pos t G ra d ua te D ip lo m a is a cc re d ite d b y th e British Assoc ia t ion o f Counse l li ngand Psychotherapy (BACP), and th e MA b y th e United K ingdom Counc il fo r Psycho the rapy (UKCP).Al l th re e a r e a c cr ed ite d by the Univers i ty o f Eas t London (UEL).Tra in ing Psychosynthesis and non-Psychosynthesis counsel lors and therap is ts . The c h a rityoffers a one yea r , Pos t Gradua te Certif icate in Psychosynthes is Studies , a s a profess ionaldeve lopment course fo r non-Psychosynthes is tr a in ed c o un s ello rs a n d a l so a one year , Postg radua teCertif icate in T ranspe rsona l & In te g ra t iv e Supe rv is io n : from a n in tegrated and t r anspe r sona lperspect ive fo r Psychosynthes is and non-Psychosynthes is t r a ined counse ll or s and the rap is ts . Botha re accred i ted by th e Univers i ty of Eas t London (UEL).Offering introductory courses in Psychosynthesis to th e public (such a s th e popula r Essent ialscour s e ) a n d on -go in g p r ofe s s io n a l t ra i nin g fo r g ra d u a te s a n d o th er q ua lifie d th er a pis ts ;Offering a counsell ing referral service, including a l ow-cos t counse ll ing s erv ic e, fo r th e gene ra lpub lic ; a n dOffering a free o r a subsidised rate for th e us e o f r o oms a t 92 -94 Too ley S t r ee t fo r o rgan i s a t i on sfu r ther i ng Psychosyn t hes i s .Constitution and Managemen tThe P s y ch o s yn t h e s i s a n d E d uc a tio n Trust is a reg is te red cha r i t y a n d c h a r it a ble c omp a n y l imi ted bygua r an t ee . It is governed by it s Memo r a n dum a nd Art ic les o f Assoc i a t i on o f 1 0 Sep t embe r 1 9 9 9 .Da y to d a y ma n a g em e n t is de lega t ed to a n d ca r r i ed out joint ly by the Di rec to r o f P r o g r amme s a ndthe Di rec to r o f Opera t i on s a nd Deve lopmen t , in c lo s e c o n s ul ta t io n with the T rus t ees , a t th e fullqua r te r ly me e tin g s, a n d a t mee t i ngs o f T rus t e e sub comm i tt e e s .

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTRepo r t o f th e Trus teesFOR THE YEAR ENDED 3 1 AUGUST 2008T rus te es a re s ele cte d from in te re ste d a p plic a nts b y a pane l o f existing t rustees, who cons ide r th eneeds o f the Trust, in te rms of th e skills in d iv idua l new Trustees bring to th e board , th e sp read o fski l ls , and th e soc ia l d iv er s ity o f th e board .New t rustees have an in duc tio n p ro ce ss , a nd w er e they a re no t a l r e ady famil iar with th e backgrounda nd p rin cip le s o f psychosynthes is they attend a sho r t training course .A l l t rus tees g ua r an te e to contr ibute an amount , not exceed ing 1 , in th e e ve nt o f w ind ing. At 3 1August 2008 th e char i table company had 8 guaruntees (2007 : 8 ) . No t rus tees have any benef ic ia linterest in th e char i ty.The T rus t i s associated with th e Psy cho syn the s is P r ofe s s io na l As soc ia t io n (PPA), a no fo r profitl imited company , and th e tw o Exe cu tiv e D ir ec to rs o f th e T rus t s it on th e PPA Board o f Directors in a nex-o f fic io capac i ty .Rev iew o f act iv i t ies 2007 /08Counsell ing & Psychotherapy TrainingThe Trust 's professional counselling & psychotherapy training student numbers increased w i t h a t o t a lo f 116 new student enrolments (18% up from 98 in 2006/07) .This does not include 1 06 new s tudents on th e in troductory Essent ia ls c our se , w hic h r un s s ix t imesa yea r (9 % up f rom 97 in 2006/07) .Th e T rus t c on ti nue s to have tw o intakes of th e 3 -yea r PG Dip lomas (in tw o different fo rmats ) . TheTrain ing in Supervis ion course a nd G ra d ua te C ertifica te in Psychosynthes is Coun se llin g a ndT he ra p y, a n d th e MA in Psychosynthes is Psycho the rapy a ll ran successful ly.20 Students qual i f ied a s counsel lors and 8 students successful ly comp le te d t he ir Mas te r s course in20 0 7 -0 8. T his compared with 1 8 and 3 respect ive ly in 2006-07 .Gradua te stud ies ProgrammeWe have had a w id e ra nge of events in this p r og r amme a imed a t gradua tes a n d o th er s in te re s te d inp ro fe s s io n a l d e ve lo pmen t. T he p r og r amme in vo lv ed an event a t l e as t once a month.Training & Re s ea rc h Con f er enc eThe Trust he ld it s th i rd annu a l r e s e a r c h con fe r ence in A pr il 20 0 8 o pe n to staf f , g r a d u a t e s a nds tuden t s , with a capac i t y a t t e n d an ce o f m ore t h an 50 peop le . This y ea r 's th em e wa s ' The V i r tua lSel f .Counsel ling ServiceThe counse l l i ng se r v i ce con t inued to de l i ve r p s y c h o s yn t he s i s c oun s e ll in g to the g en e r a l publ ic , s om eo f it lo w cos t . T he o ve ra ll number of cl ients dec l i ned a l it tl e f rom 1 1 4 in 20 06 - 0 7 to 86 in 2 0 0 7 - 0 8 -o f wh i ch 3 6% we r e lo w cost c l ien t s .Deve lopment of New CoursesDur ing the y e a r th e P r o g r amme s te a m d ev elo pe d the Appl ied P s y ch o s yn th e s is P o s tg r a d ua t eD ip lom a . Th is cou rse is a im ed a t s tuden ts wish ing to us e the th ink ing a n d p rac t i ce o fpsychosyn thes i s in a r e a s other than counse l l i ng a nd psycho the r apy .This cou rse is d ue to run fo r the f i rs t tim e fr om Sep t embe r 2008 .

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    PSYCHOSYNTHES IS AND EDUCATION TRUSTRepo r t of t he T r us t e esFO R TH E Y EAR ENDED 3 1 AUGUST 2008European Fede ra tion Summer SchoolThe T rus t co-hosted th e fo ur th gather ing o f profess ional psychosynthes is therapists from aroundEurope. This wa s init iated b y th e European Federa t ion of Psychosynthes is Pract i t ioners incol laborat ion w ith th e T rus t a nd Re.Vision.This i s an event held every tw o y ea rs , a nd ove r 100 peop le a t te nde d . Th e theme fo r this conferencewa s " The Sou l' s Cha lle nge - between hope and anguish a t a t ime o f planetary cr is is"Strategic p lann ing and visioningDur ing the year the trustees have been focuss ing on the l o nge r term s t ra teg i c di rec t ion of the Trust -par t i cu la r l y turn ing it s a t ten t ion to w a rd s p a rtn e rs h ip w o r kin g a nd g rea t e r o utr ea c h. A s m e ntio ne d inth e Cha i r ' s r epo r t we e nv is io n P ET a s a g re a te r r es o ur ce a n d e d u ca t io n a l s u p po r t fo r commun i t yg roups a nd in i t ia t ives. W e will s t reng then l in ks w ith other o rgan i sa t i ons in th e lo c a lity , s uc h a s th eCan c e r Resou r c e Cen t re ( soon to be : The Pau l d 'Au r i a Cen t re ) O th er a re as o f poten t i a l g row t hinc lude work wi th in p r i sons .Essentials Out o f L ondonP lannin g wa s comple ted on th e fi rs t E s sen tia l s c our se to be run outs ide London fo r s om e years , andth is is schedu led to ha ppen a t th e F indho rn Co ll ege in Scotland in Februa r y 2 0 0 9 .Future developments

    s Expanding the annua l Train ing and Research Conference to a wider audience.s Developing Pa rtnership working fu r the rs Deliver ing new courses

    A n ew s ho rt o n e- d a y ta s te r cou r se wi l l be deve loped a s a mo r e acces s i b l e rou te for t h ose newto the id ea s a nd m od el of psychosyn t hes i s .

    Ex tend ing th e `Essen tia ls ou t of L ond on' p ro g rammes Developing a Re s ea rc h Ne two rkPubl ic Bene f i tAs b e fits o ur c h a r ita b le s ta t us we a r e looking a t ways in wh i ch we ca n be of greater se r v i ce to th ecommun i t y . W e in te nd to i n c rea se the ava i lab i l i ty o f lo w c o s t counse l l i ng , bu r sa r i e s a nd i n te rnsh ipsa s a nd w hen we ca n a f fo rd to d o s o . W e a re keen to expand our r e s po n s i v e ne s s to soc i a l need bya d a p tin g a n d c re a tin g n ew s ho rt cou r s e s fo r the publ ic a long s i d e th e t r a in ing . W e a re a l s o lo o kin g toi n c rea se th e d i ve rs i t y o f o ur s tuden t b o d y so t h a t it is m o re r ep resen t a t i ve o f th e popu la t ion a t large .Income generation and fundraisingS om e i n come is gene ra t ed by book s a l e s a nd publ i sh ing ; a sma l l amou n t o f c a p ita t io n fund ing isr ece i ved f rom th e U niv er sity o f E a st L on d on ; but m os t o f th e Trus t ' s in co m e is gene ra t ed by tui t ionfees a nd lett ing th e b uild in g. T he Trust ha s not i nves ted r e sou rces in fund ra i s i ng d u rin g th e f i nanc i a lyea r .

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTRepo r t o f th e Trus teesFOR THE YEAR ENDED 3 1 AUGUST 2008Financial PositionThe fin a n cia l resul ts fo r th e yea r ended 3 1 Augus t were be tte r th an those in the pr ior yea r, but stil lshowed a loss fo r th e fi nanc ia l y e a r o f approximately 45k. The e ffe ct of th e loss wa s to reduce th eba lance c a r rie d fo rward f rom 409k to 3 64 k. The main cause of th e loss wa s reduced in come d ueto l ower s t uden t numbe r s th a n p re vio us y ea r s a nd a ga p in th e tenancy o f th e second floor.Rese r ve s Pol icyThe Trus tees have reviewed thei r rese rves policy and a im to commi t a s much a s p os sib le tofu rt he r in g the char i ty 's object ives, wh ile r e ta i nin g f inanc ia l stabil i ty and th e potent ia l t o respond t onew oppo r tun it ie s .The main role o f reserves is to perm i t th e char i t y to manage change effectively, part icular ly where th eregulatory and educa t io na l fr amewo r ks w i th in wh ich th e T ru st ope r a te s unde rgoes change .Cur re ntly th e r e se rves policy i s to retain s ix m onths opera t ing cos ts , cover ing key staf f a ndove rheads , amount ing to some 165k. This level ha s no t yet been ach ieved .RiskThe T rus te es h a ve e xa m in ed , in con junct ion wi th th e sen i o r man a g emen t t e am , th e s ign i f i can t r i sksthat m i g ht a f fe c t th e cont inued ope ra t i on o f th e cha r i t y .They mainta in a r is k regis te r , a nd th is is reviewed regular ly to ensure t ha t a ll r isks have beenproper ly identified and amel io ra t ion pla ns a re in place where appropr ia te .Responsibilities of the TrusteesCompa n y a nd c h a r ity la w requ i re the Trustees to p re pa r e f i nanc i a l statements fo r ea ch f inanc i a l yearthat g ive a t rue a nd fa ir v ie w of th e s ta te o f a ffa ir s o f the cha r i t y , a n d of th e su rp lus or de f i c i t o f th ec h a rity fo r that pe r i o d . In p repa r i n g t he se f i nanc i a l s t a t emen t s th e T rus t ees ha v e :

    se l e c t su i tab le accoun t i ng pol ic ies a nd th en app l y them cons i s ten t ly mak e judgements a nd estimates t ha t a r e r ea s o na b le a nd prudents s ta te whether app l i cab le accoun t i ng s ta n da r ds a n d statements o f r e c ommen d e d prac t i ce have

    been fo l lowed , sub jec t to a ny ma te r i a l depa r tu re s d is clo se d a nd expla ined in th e f i nanc i a ls t a t emen t ss p r e pa r e th e f i nanc i a l statements on th e g oin g c on ce rn bas i s un less it is in a pp ro pr ia te to

    a s s um e t ha t the c ompa n y will con t i nue on that bas i sThe Trustees h a ve ove r a l l respons ib i l i t y fo r ensu r i ng t ha t the cha r i t y ha s app rop r i a t e s y s t ems o fcon t r o l s , f i nanc i a l a n d o th er w is e . They a re a l s o r e spons i b l e for k ee p in g p ro p er a c c ou ntin g r e co r d sthat d is c lo s e w ith r e a s o n ab l e a c cu r a c y a t a ny tim e the fin a n c ia l p o s itio n of th e cha r i t y , a nd e na blethem to ensu re that the f i nanc i a l s t a t emen t s c omp l y with th e Compan i e s Ac t 1 9 8 5 a nd th e Char i t yAct 1 9 9 3 .

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTReport o f the TrusteesFOR THE YEAR ENDED 31 AUGUST 2008The y are also responsible f or s af eguar ding the assets of the cha rity , and hence, fo r takingreasonable steps fo r th e prevention and detection of fraud and other irregularities, and to providereasonable assurance that: The cha r it y is operating efficiently a nd effectively; I t s assets are safeguarded against unauthorised us e or disposi t ion;s P ro pe r record s are maintained a n d financial information us ed w ith in th e char i ty or fo rpubl ica t ion i s reliable; and Th e char i ty compl ies with re levant l aws and regulations.Th e s ys te m s o f in te rn a l c o nt ro l a re des igned to p ro vid e r e a so nable , but not absolute, assu ranceaga ins t mate r i a l miss t a temen t or loss . They include:

    s A st rategic plan a nd an annua l budge t app r oved b y th e Trus tees ;s Regular cons idera t ion b y th e Trus tees of f inanc ia l results, var iance from budgets, non-f inancialper fo rmance ind ica to rs and benchmark ing reviews;s Delegat ion o f au tho rit y a n d segregat ion of du tie s ; a n ds Identificat ion a nd management of r isks.AuditorsSayer Vincent were appo inted a s the c ha rita ble c omp an y' s a u d ito rs af ter th e yea r end a nd haveexp re s sed t he ir wil l ingness to continue in t ha t capac i ty .

    Approved b y th e Trus tees on 4 December 2008 a nd signed on their beha l f b y

    Brenda SquiresCha i r o f th e Trustees

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    Independent aud itors ' repo rtTo the members o fPSYCHOSYNTHESIS AND EDUCATION TRUSTWe have aud i ted th e fi nanc ia l s t a temen t s of Psychosyn thes i s and Educat ion T rus t fo r th e ye a r ended3 1 Augus t 2008 which compr ise th e s t a t ement of f inancia l activities, ba lance shee t a n d r ela te d n ote s.These fi na n c ia l s t a temen ts have been prepared in acco rdance w ith th e account ing pol ic ies s e t outtherein.This repo r t is m a d e so le ly to th e char i tab le company ' s m em bers , a s a body, in acco rdance withs e ctio n 2 3 5 o f th e Compan ies Act 1985 . Our a ud it wo rk ha s been under taken s o tha t we might stateto th e cha r it a ble company' s members those matters we a re required to s ta te to them in an aud i to rs 'report a nd fo r no other purpose. To th e fu ll es t ex ten t permit ted by law, we do not accep t o r a s sumeresponsibi l i ty to a nyo ne other tha n th e cha rita b le c ompany and th e char i tab le company ' s members ,a s a bod y, fo r our aud i t work, fo r this report, o r fo r th e opinions we h a ve fo rme d .Respect ive responsibil it ies o f the Trustees and aud ito rsTh e r e s p o n s ib il it ie s o f the Trustees (w ho a re a l s o the d i re c to r s o f Ps y cho s yn t he s i s a nd Educa t i onTrust fo r th e pu rposes of c ompa n y l aw ) for p repa r i ng th e annu a l r epo r t a nd th e f i nanc i a l s t a t emen t sin a c c o r d a n c e wi th app l i cab l e la w a nd Uni ted K i ngdom A cc oun tin g S ta n da rd s (U nite d K in gd omG e ne ra lly A cc ep te d A cc oun tin g Prac t i ce) , a re s e t out in the s t a t emen t o f respons ib i l i t i e s of th eTrus tee s .Our r e s po n s ib ilit y i s to aud i t the fin a n c ia l s t a teme n t s in a c c o r d a n c e wi th r e l e van t l ega l a n d regu l a t o r yr eq uir em e n ts a n d In te r na tio n a l S ta n d a r d s on Audi t ing (UK a nd I re land) .W e re po rt to you o ur o p in io n a s to whe t he r th e f i nanc i a l statements g ive a t rue a nd fa i r view a nd a reprope r l y p repa red in a c c o r d a n c e wi th th e C om pa n ie s A ct 1 985 . W e a l s o r ep or t to you whe t he r th ein fo rm a tio n g iv e n in th e annu a l r epo r t o f th e Trustees is cons i s ten t wi th th e f i nanc i a l s t a t emen t s . Inadd i t i o n , we r ep or t to you if , in our opin ion, the c h a rita b le c om pa n y ha s no t kep t p r ope r account ingr e co r d s , if we ha ve not r e ce i ved a ll the i n fo rmat ion a nd explana t ions w e r eq uir e fo r our aud i t , or ifin fo rm a tio n s p e c ifie d by la w r ega rd i ng th e Trus tee s ' r emune ra t i on a nd other t r ansac t i ons is no td i s c l o s e d .We read th e a nnua l r ep or t and cons i de r th e impl icat ions fo r our r ep or t if we become awa r e of a nyappa r en t miss t a temen t s within it .Basis o f opinionW e conduc ted our audit in a c c o r d a n c e wi th I n te rna t iona l S t a n d a r d s on Audi t ing (UK a n d Ir ela n d )i ssued by th e Audi t ing Prac t i ce s Boa r d . An aud i t in c lu d e s e xam i n a tio n , on a t e s t bas i s , of ev i dencer e l e v an t to the amoun t s a n d d i s c l o su res in the f i nanc i a l s t a t emen t s . It a l s o i nc ludes a n a s s e s smen tof the s i g n ifi c a n t e s t ima t e s a nd judgemen t s m a d e by the Trus tee s in the p repa ra t i on of th e f i nanc ia ls t a t emen t s , a n d o f whether th e accoun t i ng pol ic ies a re app rop r i a t e to th e c h a rita b le c om pa n y' sc i r cums t a n ce s , c o n s i s te n tl y a pp l ie d a nd a de qu a t e l y d i s c l o sed .W e p lanned a nd pe r fo rm ed our a ud it s o as to o b ta in a ll th e i n fo rmat ion a nd e xp la n a t io n s wh ic h wec on s id e re d n ec es s a ry in o r d e r to p rov i de us wi th su ffic ie n t e v id e n ce to g ive r ea s o na b le a s s ur a n cethat th e f i nanc ia l statements a re fr ee fr om m a t er ia l miss t a t emen t , whether cau se d by f raud or otheri r regula r i ty or e r ro r . In fo rming ou r o p in io n we a l s o eva lua ted the ove ra l l a d e qu a c y o f th e p re sen t a t i onof i n fo rmat ion in the f i nanc ia l s t a t emen t s .

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    Independent aud itors ' repo r tTo the members o fPSYCHOSYNTHESIS AND EDUCATION TRUSTOpinionI n our opinion: th e f inancia l s ta tements give a true and fair view, in acco r d ance with United KingdomGenera l ly Accepted Account ing Pract ice o f th e char i tab le company ' s state o f affairs a s a t 3 1Augus t 2008 a nd o f its in c om ing r e sour c es and a p plic a tio n o f r es o ur ce s , in clud in g its incomeand expenditure, fo r th e y ea r th e n ended ; ands th e fi na n c ia l s ta t emen ts have been proper ly p repared in acco rdance with th e Compan ies Act1985; a nd th e informat ion given in th e report o f th e Trustees i s cons is t en t w it h th e fi nanc ia l s t a tements .

    9 J a nua r y 2 0 09 AYERVINCENTCha r te r ed a ccoun ta n ts & registered aud i torsLondon

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    PSYCHOSYNTHES I S AND EDUCAT ION TRUSTSTATEMENT OF F INANCIAL ACTIVITIES ( Incorporat ing an i ncome and expendi ture account)FO R TH E YEAR ENDED 31 AUGUST 20 0 8

    Notes

    2008 2007

    Total To t a l IN COMING RESOURCESI nc om in g r e s ou rc e s f rom char i t ab le act iv i t ies :P r og r ammes a nd Cou rse s 479 ,300 435 ,6 30Counse l l i ng se rv i ce s 1 0 ,7 25 1 3 ,9 29Room ren ta l s 9 0 , 1 4 7 81 ,217Book s a l e s 5 ,7 26 4 ,7 48Incoming resources f rom activities fo r generating funds:Proper ty i n come 76 , 14 0 65 ,805Vo lun ta ry & other income:Donations and gifts - 25Investment income 2 2 ,262 4,667TOTAL INCOM ING RESOURCES 664,300 606,021

    RESOURCES EXPENDEDCost of generating funds: 3 5,9 24 25,9 20Charitable activities:Tra in ing & CPD 584,121 5 1 1 , 7 0 1Counselling 44,036 71,440Room Ren ta l 3 5,3 3 5 42,1 48Governance costs 10 , 130 7,905TOTAL RESOURCES EXPENDED 3 709,546 659 , 1 14NET (OUTGO ING ) RESOURCES AND NETINCOME/ (EXPENDITURE) FO R T HE YEAR 5 (45,246) ( 5 3 , 0 9 3 )OTHER RECOGN ISED GA INS AND LOSSESNet (loss) on investment assets ( 181 ) (405)N ET MO VEME NT IN FUNDS ( 45,427) (53 ,498)FUNDS AT THE START OF THE YEAR 408,976 462 ,474FUNDS AT THE END O F TH E YEAR 363 ,549 4 08 , 9 76All of th e a b ov e r es ults a re d e riv ed fr om cont inuing act iv i t ies a nd a re unres t r i c ted . The re we re noo th er r ec og n is e d g a in s or l o s ses o the r t han t hose s ta ted a b ov e. M o ve m en ts in funds a re d i s c l o sedin note 1 3 to th e f i nanc i a l s t a t emen t s .

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    PSYCHOSYNTHES IS AND EDUCAT ION TRUST (Limited by guarantee)BALANCE SHEETAs a t 3 1 August 20 0 8

    2008 2007Notes

    FIXED ASSETSInves tment s 7 - 80 ,517Tangib le a s s e t s 8 969,875 991 ,253969,875 1 , 0 7 1 , 7 7 0CURRENT ASSETSStocks 8,258 8 ,258Debto rs 9 83 ,619 89,566Cash a t bank a nd in hand 1 02 , 785 1 ,227194,662 99,051CRED ITORS : Amounts f all ing due within one y e a r 10 (264,922)NET CURRENT (LIABILITIES)

    (225 ,779)(70,260) (126,728)

    TOTAL ASSETS LESS CURRENT LIABILITIES 899 ,615 945 , 042CREDITORS: Amounts falling d ue a f te r more t h an 12one year (536,066) (536,066)

    NET ASSETS 363,549 4 0 8 , 9 7 6

    FUNDS

    UNRESTRICTED FUNDSGene r a l funds 363 ,549 363 ,469Designated funds - 45 ,507

    TOTAL FUNDS 363,549 4 0 8 , 9 7 6

    App roved by t he T r us t e es on 4 D ec em b er 2 0 0 8 and s igned on the i r beha l f by Brenda Squi res

    4 ST--

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 3 1 AUGUST 20081 . Accounting pol ic ies

    The fin a nc ia l s ta tements have been p re pa r ed und e r th e histor ical cos t convent ion a s modif ied byth e reva lua t ion o f in ves tmen ts wh ich a re included a t marke t value. The fi nan c ia l s ta tements a l socomply with th e Sta temen t of Recommended Pract ice fo r Account ing b y C ha ritie s a nd th eCompan ies Act 1985.IncomeThe chari ty 's income i s der ived fro m s ix main s our ce s : p ro gr ammes a nd courses , counsel l ing,room hire, book sa les , dona t ions a nd i n ves tmen t income.Recogn i t ion o f prog rammes a nd courses , counsel l ing a nd room hire incom e is on a acc rua l sbas is .Where th e income i s received in a d vance o f prog rammes a nd courses being per fo rmed, th echar i ty recogn ises , a s defer red income, a l iability equa l t o th e amoun t r ec eiv ed , represent ing itsobl igat ions to ca r ry out th e prog rammes a nd courses . Tha t l iabil ity i s reduced and r ep or te d a sin come a s th e p rog r ammes a nd courses a re per fo rmed.Donat ions a r e i nc lu ded in in come when receivab le.Income fr om inves temen ts is recogn ised on a receivab le basis .Fund accountingUnrestricted funds are available for use at the discretion of the Trustees in f u r therance o f thegeneral objectives o f th e char i ty .Des igna ted fund s a re unres tr ic ted fund s ea rma rked b y th e T rus t ees fo r par t icu la r purposes .F ixed asse tsAll f ixed asse t s a r e in iti a lly r e co r ded a t cost.DepreciationDep r e cia t io n is ca l cu l a ted s o a s to wr i te o ff th e c o s t o f a n a s se t , l e s s it s e s t ima t e d r e s i dua l va lue ,o ve r th e u s e fu l e c omom i c life o f th at a s s e t a s fo l lows :Freehold proper ty 2% o n c o s tFurniture & Fittings 4 years straight lineOffice Equipment 4 years straight linePlant and machine ry 1 0 years straight line

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    P S YCHOSYN THE SIS AND EDUCAT ION TRUSTNOTES TO THE FINANCIAL STATEMENTSFO R TH E Y EA R ENDED 3 1 AUGUST 2 0 0 81 . Accounting po lic ie s ( c o n ti nu e d )

    InvestmentsInves tments a re in clud ed a t marke t va lue a t th e b a la n ce s h ee t da te . Any c ha n ge s in value duringth e y e a r, wh eth e r r e alis e d o r unreal ised a re reported a s other recognised ga ins a nd losses in th eSta temen t of Financ ia l Act iv i t ies.Stocks

    Stocks have been valued a t th e lowe r of cos ts a nd net rea l is ab le va lue .Resources expendedExpenditure i s recogn ised o n a n a cc rua ls bas is a s a l iabil ity i s incurred.Costs of gene ra t in g comp r is e th e cos ts a s so c ia t ed w ith th e running o f room ren ta ls .Chari table expend i tu re c ompr is e s th o se costs incurred by th e chari ty in th e d e liv er y o f i ts act iv i t iesa nd serv ices fo r its benef ic iar ies.Gov e r n a n c e cos t s in clud e th os e c os ts a s so cia te d w ith m e e tin g th e cons t i tu t i ona l a n d s t a tu to ryrequ i remen t s of the char i ty , a nd inc lude th e aud i t fees a nd a ny co s t s l inke d to the s t r a t eg i cm a n a g eme n t o f th e cha r i t y .A ll cos ts a re al located be tween th e expend i ture ca tegor ies of th e s ta teme nt of financ ia l ac t iv it ieson a bas is des igned to reflect th e us e o f th e resource.The fo llowing costs are allocated directly t o a particular act iv i ty :Staff, t ra iners ' fees an d costsBursariesCounselling serviceAll other c o s ts a r e a p p o rt io n ed on an app rop r i a t e b as is , b as e d on act iv i ty .Ope ra t i ng l easesRenta ls on ope ra t i ng l e a ses whe r e subs t an t i a l l y a ll of th e r i sks a nd r e w a r d s o f owne rsh i p r ema i nwi th th e l e s so r a re c h a r g e d to the statement of f i nanc ia l ac t i v i t i es on a straight l ine b a sis o ve r theper i od o f th e le a se .

    2. I NVESTMENT I NCOME 2 0 0 8 20 0 7Total To t a l

    I n t e re s t rece ivab le on I n ve s tmen t s in T re a su r y Stock - 4 ,522Ban k in te r e s t r e ce iv a b le 2,262 1 45

    2,262 4,667

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR TH E YEAR ENDED 31 AUGUST 20083 . RESOURCES EXPENDED

    Costs ofgenerating Training &

    funds CPD Counselling Room Rentals Governance 2008 Total 2007 Total Costs of generat ing funds:Adve rt ising and market in g cos t s 24,777 - - 24,777 13 ,681Cos ts directly attributable to charitable ac t i v i t i e s :Staff, trainers' fees a nd costs - 390,503 16 , 878 12,658 1 , 9 0 5 421,944 405,226Bu r s a r i e s - 16 ,583 - - - 16,583 9 , 8 3 1Counselling se rv i ce - - 4 ,481 - - 4 ,4 81 9 ,825Pr int ing and s ta t i one ry - 17,117 2 , 14 0 2,140 - 21,397 23,165Pos t and telephone - 5 ,658 707 707 - 7 ,0 7 2 5 ,262Insurance - 8 ,7 3 4 1 ,0 9 2 1 ,0 9 2 - 1 0 ,9 1 8 9 ,9 7 7Sundries - 12,936 1 , 6 17 1 , 6 17 - 1 6,1 7 0 1 4 ,622Ra t e s and uti l i t ies - 14,139 1 ,7 67 1 ,7 67 - 1 7 ,67 3 1 4 ,5 9 7Rep a i r s , maintenance a nd cleaning - 52,316 6,539 6,539 - 65,394 55,813Deprec i a t i on - 21,692 2 ,7 1 1 2 ,7 1 1 - 27,114 26,591Computer consumables - 10,659 1 ,3 3 3 1 ,3 3 3 - 13,325 10,045Bank charges - 619 7 8 78 - 7 7 5 9 61Con su l t a n cy fees - 7,646 956 956 - 9 , 5 58 17 , 20 1

    Interest pa yab l e - 29,898 3,737 3,737 - 37,372 22,766Ba d debt prov i s i on - (4,379) - - - (4,379) 1 , 3 1 2Audit fees - - - - 8,225 8,225 6,000O t h e r p r o fe s s io n a l fees 1 1 , 1 4 7 - - - - 11,147 12,23935,924 584 , 121 44,036 35,335 10,130 709,546 659,114

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    P S YCHOSYN THE SIS AND EDUCAT ION TRUSTNOTES TO THE FINANCIAL STATEMENTSFO R TH E Y EA R ENDED 3 1 AUGUST 2 0 0 84. TRUSTEES' REMUNERATION

    The trustees neither received nor waived any emoluments during the year ( 2007 : nil).Travel expenses of 250 were re-imbursed t o trustees, ( 2007 : n il)

    5 . NET OUTGO ING RESOURCES FO R TH E YEARThis is s t a ted after charging:

    Total Total2008 2007

    Auditors ' remunera t ionAudi t fee 8,225 6,000Opera t ing l ease rentals - Equipment 38,895 34 ,469Depreciat ion (note 8) 27 ,1 14 26,5916. STAFF COSTS AND NUMBERS

    Total To t a l20 0 8 20 0 7

    Wa g e s and salaries 213 ,614 1 98 ,891Soc i a l s e c ur ity c o s ts 20 ,526 17,846

    234,140 216 ,737No emp loyee rece ived emo luments o f m o re that 60 ,0 0 0 ( 20 0 7 - none).T he a v er a ge number o f emp loyees d ur in g th e y ea r , calculated on th e bas i s of full t ime equiva lents:

    2008 2007Counse l l i ng 1 1Admin i s t r a t i ve an d Finance 8 8

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 3 1 AUGUST 20087 . FIXED ASSET INVESTMENTS

    A t V a l ua t io nMarket va lue a t 1 September 2 0 0 7Add i t ionsDisposalsNe t losses on revaluationMa rke t value a t 3 1 Augus t 20 0 8Analysis of inves tmentsFixed i n te res t secu r it ie s Marke t Value

    Cos t8. TANGIBLE FIXED ASSETS

    COSTAt 1 September 2007Additions in yearAt 3 1 Augus t 2 0 0 8DEPRECIATIONAt 1 Sep tembe r 200 7Charge fo r th e ye a rAt 31 A ug us t 2 0 0 8NET BOOK VALUEAt 3 1 Augus t 2008At 1 September 2 0 0 7

    80,517 80 ,922

    (80 ,517) (405)80 ,517

    80 ,5 1778,650

    Freeho l dLand & P la n t & Furni ture Off iceBuildings Machinery & F ixt ur e s Equ ipmen t To ta l

    1 , 1 3 7 , 7 7 9 16,857 41 , 329 6,093 1,202,058- - 5,736 - 5,736

    1 , 1 3 7 , 7 7 9 16,857 47 ,0 65 6,0 9 3 1,207,794

    156 , 1 9 4 8,428 4 0 , 0 9 0 6 ,0 9 3 210 ,80522 , 7 55 1 ,686 2,673 - 2 7 , 1 1 41 7 8,9 49 1 0 ,1 1 4 42 ,763 6 ,0 9 3 237 ,919

    958 ,830 6,743 4 , 3 02 969 ,87598 1 , 5 8 5 8,429 1 , 2 3 9 - 9 9 1 , 2 5 3

    Al l tangib le fixed assets are used fo r d i rec t cha r it ab le purposes.

    9 . DEBTORS

    T r a d e deb t o r sO the r deb t o r sP re pa ym e nts a n d a c cr ue d i ncomeBa d Deb t s Prov i s i on

    2008 2007

    28,579 7 3 , 9 2 97,822 -49 ,9 9 6 1 5 ,63 7(2 ,778 ) -8 3 ,6 19 89 ,566

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 AUGUST 20081 0 . CREDITORS: AMOUNTS FALL ING DUE W ITHIN ONE YEAR

    2008 2007

    T r a d e c red i t o r s 2 1 , 5 7 6 55 ,829Othe r c red i t o r s 1 1 , 029 -Othe r t axa t ion a nd s o c ia l s e c u rit y 6,1 1 4 5 ,3 3 2Acc rua l s 8,481 8 , 9 0 8De fe r re d i n c ome 2 17 , 7 2 2 1 5 5 , 7 1 0

    264,922 225,7791 1 . DE FERRED IN COME - COURSES

    2008 2007

    Balance at 1 September 200 7 155,710 106,672Cash received 442,980 348 ,818Student fees recognised in th e y e a r 3 80,968) 29 9 ,780 )Deferred in co me a t 3 1 Augus t 2008 217 ,722 155 , 710

    1 2. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

    Bank l o an r e p a yab l e in o ve r fiv e y ea r s

    2008 2007

    536,066 536 ,066536,066 536 ,066

    The ba nk loan is a n in te re s t only mortgage with Northern Rock plc repayab le in full in 2022. In teres ti s payable a t a ra te of 1 .5 0% a bove th e Northern Rock base rate. Th e loan i s secured b y a legalc ha r ge o ve r th e chari ty 's property a t 92 -94 Tooley Street, London, SE1 2TH.The outstanding amounts in the above loans represent 56% ( 20 0 7 : 5 5% ) of th e book v alu e o f 9 2 -9 4Tooley Street, London, SE 1 2TH .

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    PSYCHOSYNTHESIS AND EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 3 1 AUGUST 2 00 81 3 . STATEMENT OF FUNDS

    Balance a t 1 A t 3 1September Incoming Outgoing Augus t2007 resources resources Trans fers 2008 General Rese rv e 363,469 664 ,3 0 0 (7 0 9 ,7 27 ) 45,50 7 363 ,549Designated Rese rvesDeve lopmen t fund 45 ,507 - - (45 ,507) -To ta l unrestr icted funds 40 8,9 7 6 664,3 0 0 ( 709 , 727 ) - 363,549Designated reservesThe Deve lopment fund was estab l i shed a s a fund to prov ide fo r future marketing and educat ion fo rth e char i ty.

    14. TAXATIONThe cha r ity is exempt f r o m corporation tax as all it s income is charitable a n d is applied f o r charitablepurposes.1 5. RELATED PARTY TRANSACTIONS

    During th e yea r Keith S i lves te r (D irec to r o f Prog rammes) wa s paid 10,640 in fees relating to th eprovis ion o f tutoring s e r vic e s . The re were no other r e la te d pa r ti es t ransac t ions during th e year .1 6. COMMITMENTS

    OPERATING LEASESA t 3 1 A ug us t 2 0 0 8 th e cha r i t y ha d the fo l lowing a n nua l comm i tmen t un d e r non -cance l l ab l e opera t i ngl e a s e s :

    Of fic e e qu ipmen t2 0 0 8 2 0 0 7

    Operating leases which expireWithin tw o to f ive y e a r s - 36,967

    1 7 . COMPANY L IMITED BY GUARANTEEE ac h m e m be r of th e cha r i t y ha s gua ran teed to con t r i bu te up to 1 in th e e ven t of a wind i ng up .


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