-ompany number: 293052
charity number: 103800
SALTMINE TRUST
(a charitable company limited by guarantee)
Audited Annual Report and Financial Statements
Year ended 31 March 2025

SALTMINE TRUST (a charitable company limited by guarantee)
INDEX
Reference and Administrative Details
1
Trustees' Report
2
Independent Auditor's Report
Statement of Financial Activitles
11
Balance Sheet
12
Cash Flow Statement
13
Notes to the Financial Statements
14

SALTMINE TRUST (a charitable company Urted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS
COMPANY NUMBER
2930528 (Registered in England & Wales)
CHARITY NUMBER
1038007 (Registered in England & Wales)
HEADQUARTERS & REGISTERED OFFICE
61 The Broadway
Dudley
West Midlands
DY1 3EB
TRUSTEES/DIRECTORS
Non Executive:
D Parkes (Chair)
L Choosman (Vice Chair)
A Lowe (appointed August 2025)
I Martin
J Moore
A Watson (appointed June 2024)
Execative:
None
CHIEF EXECUTIVE OFFICER
R Orell
COMPANY SECRETARY
S Sarjeant
BANKERS
Harclay: Bank plo
Dudley Branch
РО Box 9
Dudley
West Midlands
DYI 1PP
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
MEL9 4JQ
SOLICITORS
Nowell Meller Solicitors
24 Market Place
Burslen
Stake on Thent
ST6 4AX
AUDITORS
DJ Audit Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

TRUSTEES REPORT
PRINCIPAL ACTIVITIES
The Saltmine Trust Board of Trustees (the 'Board') present their Annual Report and the Financial Statements of the
Charity for the year ended 31 March 2025 and confirm that the Financial Statements comply with current statutory
requirements, the Charities Act 2011, Accounting and Reporting by Charilies: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the
UK and Republic of Ireland, and the Charity's governing document.
Saltmine Trust (the 'Charity') is a creative arts organisation with a vision to see 'a world in which people are positively
transformed by an encounter with Faith Motivated Arts'. The Charity's mission is to be a centre of excellence, releasing,
empowering, and equipping all ages through partnerships, projects, personal development and creative initiatives. Its
charitable aims and objectives are:
• the advancement of the Christian faith,
the relief of poverty, and
• the advancement of education.
CHIEF EXECUTIVE'S REPORT
2024/25 was an inspiring year for us at Saltmine Trust. We delivered performances outdoors, in schools, churches and
organisations across the UK. Our values of Inclusiveness, Servant-heartedness, Transformation, Distinctiveness and
Innovation continue to guide and inspire us.
Our dedication and hard work reached over 53,000 people through Passion Plays, school tours, Christmas productions,
and community performances. From large-scale productions to innovative new schools work, our team has continued
to bring truth and hope through creative theatre.
Here are some of this year's highlights;
Misslonal Theatre
Passion Plays: The Dudley Passion Play in April 2024 was a wonderful blessing, with around 1,000 people attending
across two performances. It unified local churches and told God's story in a relevant and modern way. Alongside this,
our Alpha course at Provision House has been encouraging, with 25+ people attending each week.
In April 2025, we staged Passion Plays in Hereford and Wilmslow, Cheshire, each drawing over 1,000 people. Both
were fully funded locally, with staging support from Outdoor Staging Company that significantly reduced costs. These
events once again demonstrated the impact and reach of Passion Plays in bringing communities together.
Looking ahead, interest continues to grow, with enquiries from Coventry, Northamptonshire, Torquay, North Somerset,
Glasgow and Wolverhampton.
The Rhyming Bible: The Rhyming Bible continues to flourish, with an amazing spring tour in 2024 and summer
highlights including Keswick and Lichfield Cathedral Festival. In March 2025, the team performed 14 shows with 9
"The production retold God's Big Story in one session and held the children's attention throughout. We feel very
lucky to have had the opportunity to see it."
(Teacher, St John's Bollington Primary School)
The Liberator: In May 2024, The Liberator was performed at Anchor Point Church, Birningham, where Tim Rudge
ofUCCE described it as "powerful and inspiring." There is potential for a strategic partnership with UCCF in
2026/27. Meanwhile, we have already raised £10,000 towards a planned universily tour and are pursuing further
funding.
Christmas Productions: Our 2024 Christmas plays were a highlight of the year:
• Jack and the Beanstalk - Don't Fear God's Here (Isaiah 41:10): *NEW SHOW! 21 performances, 3,135
audience
• Red Riding Hood - You Belong (Hebrews 12:14): 23 performances, 4,469 audience
• Christmas Carol - What Can I Give (1 Peter 4:10): 31 performances, 6,098 audience
Together, these 75 performances reached 13,702 people. Schools feedback was outstanding, with many booking
additional reduced-rate visits - opening doors to schools who had not previously experienced Saltmine
2

TRUSTEES' REPORT
Schools Work
One of the most encouraging developments this year has been the growth of our schools work, which continues to
receive overwhelmingly positive leedback;
Ignite: Our brand-new secondary school show premiered in March 2025, oxploring how the brain works and offering
strategies for tackling anxiety, depression, loneliness and self-harm. The premiere tour delivered 15 shows and
workshops to 2,857 pupils, with a fully booked tour already confirmed for 2026.
"A HUGE thank you. The team today were fanlastic, our students got so much out of the Ignite performance and
"yorkshop! We will definitely be booking again."
(DSL, Grace Academy Darlaston)
filters: Our hard-hitting social media safety play visited 16 schools in 2024, delivering 32 performances and 3
vorkshops to over 5,000 pupils. Teachers and students praised it as "fast-paced and engaging" and "better than an
other theatre productions we've had here."
Blust Off: Our new primary school production on internet safety toured 10 schools in June 2024, with 14 workshops
reaching 2,038 children. In Juno 2025, it visited a further 4 schools, reaching 1,284 pupils. Schools consistently
described it as engaging and valuable.
Switch Up & In Their Shoes: These plays addressed knife crime, gang culture, and British values in Autumn 2024.
Feedback praised their clarity and resonance with young people, with headteachers and youth leaders commending their
Thrive Off Script: This year, we launched Thrive Off Script (podcast) a series of short, powerful interviews wit
uspirational people, delivered alongside example lesson plans, designed to fulfil curriculums and inspire young live
Series 1 Episodes:
• Unpacking how social media can euricl our lives and not control it (15,318 views)
• How knife crime impacts our communities at large and why your life is important (5,758 views)
• Reflecting through the lens of our anti-knife crime show Switch Up (12,025 views)
• Discovering how young lives can navigate the new era of Al (3,007 views)
Across our main platforms, TikTok and YouTube, Thrive Off Script has enabled us to continue bringing preventive
education to young people after we leave a school. Whether accessed in a follow-up lesson or discovered online, these
episodes have helped us reach over 20,000 young lives post-performance.
Finally, the financial investment in a schools Theatre in Education brochure has strengthened this area further, providing
valuable resources for teachers and ensuring our message has lasting impact.
International & Wider Ministry
We enjoyed a fruitful time at Le Pas Opton, France in sumuner 2024, leading Bible studies and creative ministry. In
May 2025, ive re-launched The Soul in the Machine to appreciative YMCA audiences in the UK, and we look forward
1o taking it to Germany in September 2025.
"It was a wonderful performance, and we could see how hard the actors worked. They were all true professionals and
a great credit to Saltmine Theatre Company."
(Paul Laffey, Chief Executive, YMCA Burton)
Innovation & Partnerships
Our VR project, Switch Up 360, is now complete and being used by the police. We are also exploring future
collaborations with UCCF and other national partners.
Becanse of reduced funding in schools for our productions - even though the demand remains strong - we employed a
dedicated fundraiser to secure support for our theatre in education work. This has already been a big success, enabling
more schools to access our plays and workshops.
Fundraising overall has been very encouraging:
• Over £30,000 raised to support costs around the Dudley Passion Play
• £20,000 raised through a successful staff tear Three Peaks challenge
• £20,000 raised through our Big Give online giving campaign, raising funds for the production of a new
Christmas show, Jack In The Beanstalk
3

TRUSTEES' REPORT
• £10,000 secured for The Liberator university tour
New Appointments
We continue to invest in people. This year we welcomed graduate inters Esther and Yasmin, who have contributed
significantly. We also appointed Francesca to a part-time fundraising role, and in January 2025 Byron joined us as our
social media lead. These roles strengthen our long-term sustainability and reach.
Closing Thoughts
We have a great creative team, consistently receiving 100% positive feedback from audiences, schools and churches.
Their passion and professionalism are the heartbeat of Saltmine.
We are deeply grateful for our loyal and nesy supporters, for trusts, churches and businesses who financially contribute
throughout the year. They are invaluable and empowering.
Finally, I want to thank our Board members for their dedication, wisdom and support, and our staff and creative team
who work tirelessly to deliver high-quality performances and workshops that educate, inspire and transform lives.
As we look ahead, we remain committed to our calling: using theatre and creativity to fell stories that engage, challenge
and inspire.
FINANCIAL REVIEW
The Road Aheud 2024 report and sector insights reflected many of the challenges Saltnine faced this year. While inflation
began to ease, the cost-of-living crisis continued to affect both charities and the communities we serve. Rising costs in
staffing, fuel, and materials placed pressure on our resources, and discretionary spending remained tight for many
householda. Despite these challenges, Saltmine held firm—-trusting in God's provision and the faithful generosity of ou
supporters.
We're pleased to report that Saltmine ended the year with a small surplus of £4,438, reversing last year's deficit. Total
income rose to £627,099, with a notable increase in charitable activities, including sales and sponsorship. Donations and
legacies remained steady, and investment income hold firm.
Expenditure increased slightly to £622,661, with the majority directed towards charitable activities. Governance costs
remained low, and fundraising costs were kept lean. Our staffing grew to 15.6 FTE, supporting the expansion of our
educational and creative programmes. Staff costs totalled £471,528, with increased freelance and training investment
helping us build capacity and deliver more.
Key financlal highlights:
Financial health: Stable, with a small surplus (f4.4k) and positive cash flow.
Fund growth: Restricted funds increased, while unrestricted funds saw a decrease.
: Stating: Mostly stable, with careful control of wages and felance a te.
Additional observations:
• Wages and freelance staff made up nearly 90% of staff costs, reflecting Saltmine's investinent in it's people
• Cash reserves remain healthy and stable.
• The charity is maintaining restricted funds for specific programmes, while general (unrestricted) funds saw a
small decline.
Alongside this, Saltmine received £68,200 in grants. Of this, $24,200 specifically supported the development and delivery
of our Proventative Education work in primary and secondary schools. Despite tightening school budgets, Saltmine
created and toured a new mental health production and workshop, Ignite, which was prepared in 2024 and Jaunched its
seli-out tour in early 2025.
Additional support came through a variety of channels:
• £34,000 in unrestricted grants
• £25,800 raised through sponsored events, including the London Marathon and a staff-led 24-hour Three Peaks
Challenge a testament to the dedication of our supporters and team
• £20,000 raised through our online Big Give Christmas campaign, which funded the creation and touring of our
new Christmas show, Jack in the Beanstalk, spreading the message "do not fear; God is here"
• £7,000 raised from our Saltraine News readers, aiding much needed refurt in the building (damp and storage
improvements in the rehearsal space).
4

TRUSTEES REPORT
In total, we were blessed to secure £107,823 in restricted income, enabling us to deliver targeted projects including online
safety workshops, faith-based performances, and the development of new mental health resources. Of this, £46,233 has
been carried forward to continue this work into 2025-26, including support for two Passion Plays in April 2025.
Special thanks go to our funding partners whose generosity made this possible: Lancaster Foundation, Old Town Christian
Trust, Eveson Trust, Asda Foundation, Wider Determinants Fund (managed by Beacon Centre for the Blind), James Grace
Trust, Ardbarron Trust, George Henry Collins Trust, The Grace Charitable Trust, The Evangelical Trust, and the Set Me
Free Trust. Their support has enabled Saltmine to continue bringing hope and transfornation through creative arts and
education.
As we look ahead to 2025-26, we remain committed to our mission. Plans include expanding digital campaigns, growing
and deepening our engagement with schools and communities. We move forward with faith, creativity, and gratitude
trusting that God will continue to provide as we serve.
POLICY ON RESERVES
Saltmine aims to maintain a minimum level of unrestricted funds broadly equivalent to three months' core operating costs
The reserves figure at the year-end was £186,432 (see accounting note 15) which fluctuates over the year and provides
measure of resilience against the continuing economic climate challenges. The Board reviews the Reserves Policy
annually.
PLANS FOR FUTURE PERIODS
In the new year, we'll tour Ignite for secondary schools, addressing mental health, and Blast Off for primary schools,
focusing on online safety.
In February, we begin work on Rhyming Bible 2 - Halos, Heroes and the Tree of Life, which will tour from
March through Summer 2026.
• Switch Up, our play tackling knife and gang crime, returns in April/May, with sponsorship from severa
Birmingham churches for performances and workshops in March 2026.
•
July marks Saltmine's 45th Anniversary, with an all-day event planued at Dudley College's Great Hall.
We are producing a new Christmas play, Cinderella, centred on the theme of Kindness.
We will relaunch Dream-Keepers, promoting positive relationships and healthy mental health for primary
schools.
• In autumn/winter, we'll launch Thrive Off Script Podcast Series #2, starting with an episode on knife crime,
gang culture, county lines, and joint enterprise, complementing our Switch Up tour in March 2026.
PUBLIC BENEFIT STATEMENT
The Board is mindful of its responsibilities regarding public benefit, meeting these criteria in a number of different ways.
With Saltmine's work alongside churches and national Christian events the Charity challenges and encourages people of
all ages to live a life full of meaning and purpose with due regard to social responsibility, seeking to motivate and change
society and individuals for the better. Separately from the work with churches and national events, Saltmine works closely
with Local Education Authorities, professional bodies, and schools to present to children and young people, in an up-to
date format, the dangers of the internet, extremism and other issues of significant public concern such as knife crime,
domestic abuse and mental wellbeing. The trustees have had due regard to the Charity Commission guidance on public
benefit.
THE SALTMINE TRUST BOARD & GOVERNING DOCUMENT
Saltmine Trust is a Company Limited by Guarantee (number 2930528) and a Registered Charity (number 1038007). The
Saltmine Board is comprised of Non-Executive Directors, The Company Directors fulfil the duties of the Trustees of the
Charity in accordance with the requirements of the Charities Act.
In order to bring Saltmine's constitution in line with current charity & company statutes, the Charity's original Articles
of Association, established in May 1994 when the Charity was incorporated, were replaced in December 2016 with the
model Articles of Association for a charitable company published by the Charity Commission (a copy is available on the
Companies House website).
APPOINTMENT OF TRUSTEES

TRUSTEES' REPORT
Prospective new trustees with relevant skills and experience are nominated by Board members and asked to complete an
application and to nominate referees. When both the Board and the prospective trustee are content to take the process
forward, the prospective trustee is invited to two Board meetings as an observer. Subject to assent by both the individual
concerned and the Board, the prospective trustee is then put forward for election by the Board. Trustees are put forward
for reappointment every three years on a rotational basis in accordance with the requirements set out in the governing
document.
ORGANISATIONAL STRUCTURE & KEY MANAGEMENT PERSONNEL
The Board delegates the day-to-day management of the Charity to the Chief Executive. Although policy decisions reside
with the Board, planning, budgeting and strategy are initially devolved to the Chief Executive before consideration by the
Board. The Board meets on a quarterly basis, receiving reports from the Executive on developments in the intervening
periods and future plans, together with finance, governance, operational and administrative matters. Decisions on matters
with significant implications for the organisation are brought to the Board. These include strategic direction, policy
formation and review, fund-raising initiatives, matters of risk to the organisation, significant organisational change and
major projects.
A Finance Committee, comprising Board and Executive members, meets on a quarterly basis to review the management
accounts, budgets, proposed updates to the Charity's policies and other matters delegated by the Board. The Committee's
recommendations are submitted to the Board for consideration and approval. The Board and Finance Committee Terms
of Reference are reviewed annually.
The key management personnel are those comprising the Executive Team, currently the Chief Executive, the Operations
Manager/Company Secretary and the Artistic Directors. The remuneration of these posts is reviewed annually by th
Board. Pay increases are awarded when this is considered to be appropriate and when budgetary considerations allow
RISK MANAGEMENT
The Board recognises that risk management is an important element of its responsibilities. The Board reviews sections of
the Charity's Risk Register at cach meeting, including the risk ratings and the status of the mitigation notions of major
risks. Risks are categorised under the following headings: strategic; reputational; financial; operational; stafi; and
legal/compliance. The Finance Committee reviews the finance-related risks and makes recommendations to the Board as
appropriate. The Risk Management Policy is reviewed by the Board biennially, Trustee indemnity insurance cover is in
place for E1m.
The principal risks and uncertainties facing the charity continue to be financial:
• funding strears become insufficiently diverse, making the Charity vulnerable;
a loss of major donors results in insufficient financial resources for the Charity to meet its obligations;
• pressures in the external environment impact negatively on income streams; and
a national shortage of oreative arts staff leading to increased costs, compounded by the cost-of-living crisis and
the continuing threat of a recession.
support base.
HEALTH & SAFETY AND SAFEGUARDING
The Board reviews the Charity's policies and procedures for health & safety and safeguarding annually to ensure that
3200075
The Charity has an appointed Safeguarding Officer, trained to the required level, who is responsible for the
implementation of the Safeguarding Policy, for the delivery of training to staff and for liaising with host organisations as
required.
6

TRUSTEES REPORT
TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The Trustees are responsible for preparing the Trustees' Report and the Financial Statements in accordance wil
applicable law and regulations
Company law requires the Trustees to prepare Financial Statements for each financial year. Under that law the Trustees
have elected to prepare the Financial Statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve
the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity
and of the income and expenditure of the Charity for that period. In preparing these Financial Statements, the Trustees
AA
select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity
will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's
transactions, 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. 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, and
for ensuring that the assets are properly applied in accordance with charity law.
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of auy relevant audit
information and to establish that the auditors are aware of that information.
AUDITORS
DJH Audit Limited were appointed as Saltmine's Auditors for the financial year 2025/26 at the Annual General Meeting
held on 5 December 2025.
On behalf of the Board,
Daniel Parkes (Chair)
5" December 2025

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SALTMINE TRUST
OPINION
We have audited the financial statements of Saltmine Trust (the 'charitable company') for the period ended 31 March 2025
which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework that has been applie
in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming
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
nancial statements section of our report. We are independent of the charitable company in accordance with the ethi
quirements that are relevant to our sudit of the financial statements in the UK, including the FRC's Ethical Standard, a
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 bave performed, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the
Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report, 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 we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. 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
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008
requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returus;
we have not received all the information and explanations we require for our aud
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the
charitable company for the purposes of company law) 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 trustees determine is necessary t
nable the preparation of financial statements that are free from material misstatement, whether due to fraud or error
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue
as a going concer, disclosing, as applicable, matters related to going concern and using the going concern basis of
8

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SALTMINE TRUST
accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic
alternative but to do so.
OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as nuditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and
relevant regulations made or having effect thereunder.
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 Independent 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 ar
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economi
The extent to which our procedures ure capable of detecting irregularities, including fraud is detailed below:
We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and ther
design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient an‹
appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-
compliance with laws and regulations, we considered the following:
- the nature of the industry, control environment and business performance;
- results of our enquiries of management about their owa identification and assessment of the risks of irregularities;
- any matters we have identified having reviewed the company's procedures for complying with laws and regulations and
whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this context
included the Companies Act 2006.
is a result of these procedures te considered the opportunities that may exist within the organisation for fraud resulting i
material misstatement in the financial statements. We considered that any such opportunities are mitigated by the fact tha
the company is under the close control of its directors.
Our procedures to arrive at this conclusion included the following:
" reviewing balance sheet control accounts to ensure properly reconciled;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material
misstatement due to fraud;
- enquiring with management concerning actual and potential litigation claims.
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 Independent
Auditors.
The comparative figures were not audited.
USE OF OUR REPORT
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable
company's trustees those matters we are required to state to them in an auditors report and for no other purpose. To the
üllest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company anc
the charitable company's truslees as a body, for our audit work, for this report, or for the opinions we have formed.
DJE Audit Limited - Statutory Auditors
Bligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
Church Court
Sturbridge Road
Halesowen
West Midlands B63 3TT
Mark Howell
Date: 5 December 2025
9

SALIMINE TRUST (a charitable company limited by guarantee)
STATEMENT OF FINANCIAL, ACTIVITIES (Incorporating an income and expenditure account)
For the year ended 31 March 2025
Unrestricted Restricted J
funds
funds
2025
2025
€
INCOME
Donations & legacies:
Ministry receipts
General and personal
support
Charitable activities:
Tickets and fees
Sponsorship
Investment income:
Interest receivable
Rent receivable
Other income:
Notes
TOTAL INCOME
EXPENDITURE
Cost of generating funds
Charitable activities
Governance costs
TOTAL EXPENDITURE
NET INCOME
NET MOVEMENT IN
FUNDS
FUND BALANCES AT
BEGINNING OF YEAR
FUND BALANCES AT
END OF YEAR
2
5
6
15
92,710
320,001
69,108
25,884
2,278
9,295
519,276
37,507
504,003
4,220
545,730
(26,454)
(26,454)
491,671
465,217
107,823
:
:
-
107,823
76,931
76,931
30,892
30,892
18,382
49,274
Total
Unrestricted
Funds
funds
2025
2024
92,710
427,824
69,108
25,884
2,278
9,295
-
627,099
37,507
580,934
4,220
622,661
4,438
4,438
510,053
514,491
113,134
339,506
43,666
5,646
1,505
10,000
513,458
32,270
487,496
3,800
523,566
(10,108)
(10,108)
501,779
491,671
The Charity's income and expenditure all relate to continuing operations.
All surpluses and deficits recognised in the year are included in the Statement of Financial Activities.
The notes on pages 15 to 21 form part of these financial statements.
Restricted
funds
2024
82,839
:
:
-
82,839
77,957
77,957
4,882
4,882
13,500
18,162
Total
Funds
2024
€
113,134
422,345
43,666
5,646
1,505
10,000
-
596,297
32,270
565,453
3,800
601,523
(5,226)
(5,226)
515,279
Sass

THE SALTMINE TRUST (a charitable company limited by guarantee)
BALANCE SHEET
As at 31 March 2025
Company number: 2930528
FIXED ASSETS
Tangible assets
Notes
10
-
CURRENT ASSETS
Stock
Debtors
Bank and cash
11
12
CREDITORS- AMOUNTS FALLING DUE
AFTER ONE YEAR
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted income funds
Restricted income funds
13
14
2025
278,785
278,785
60,595
194,413
255,012
19,306
235,706
514,491
2024
f
284,292
284,292
56,199
188,462
244,661
18,900
225,761
510,053
15
16
465,217
49,274
514,491
491,671
18,382
510,053
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period
ended 30 April 2025.
The sie sate hay not deposited notic, pursuant to Scion 476 of the Companies Act 2006 equing an audit of these
The trustees acknowledge their responsibilities for
1) e2906 ag diat the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the
end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements,
so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject
to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5 December 2025 and were
signed on its behalf by:
Daniel Parkes
Chair
11

THE SALTMINE TRUST (a charitable company limited by guarantee)
CASH FLOW STATEMENT
As at 31 March 2025
Company number: 2930528
Notes
2025
2024
€
Cash flows from operating activities:
Net cash (used in)/provided by operating activities
Cash flows from investing activities:
Purchase of property, plant and equipment
Net cash (used in)/provided by investing activities
Cashflow movement
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the reporting
period
1
9,559
25,904
(3,608)
(4,521)
2
3
(3,608)
5,951
5,951
188,462
194,413
(4,521)
21,383
21,383
167,079
188,462
12

THE SALTMINE TRUST (a charitable company limited by guarantee)
CASH FLOW STATEMENT
As at 31 March 2025
Company number: 2930528
1. Reconcillation of net income (expenditure) to net cash flow from operating
activitles
Net (expenditure)/income for the year
Adjustments for:
Depreciation charges
Loss/(profil) on sale of fixed assets
Decrease/(increase) in stock
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by
operating activities
2025
9,115
0
(4,400)
406
4,438
5,121
9,559
2024
€
(5,226)
9,208
0
31,011
(9,090)
31,130
25,904
2. Analysis of cash and cash
equivalents
Bank and cash
2025
194,413
2024
188,462
3. Analysis of changes in net funds
Bank and cash
At l April
2024
188,462
Cashflows
At 31 March
2025
5,951
194,413
13

SALTMINE TRUST (# charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
1
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 -
(Charities SORP (FRS102)), Section IA of the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FR$102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted
Accounting Practice.
Saltmine Trust meets the definition of a public benefit entity under FR$102. Assets and liabilities are initially
recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy
note(s).
These Financial Statements are prepared under the historical cost convention.
Going concern
The trustees continue to monitor financial performance closely. Cashflow forecasts are prepared and
reviewed by the Executive on a monthly basis, who also continue to ensure tight financial controls are in
place and i to sented the fried ive are ale continuing to erect eat taking trusts and develop new
After considering the year-end financial position and reviewing the major risks facing the Charity, the trustees
are of the view that there are sufficient resources and plans in place to secure the immediate future of Saltmine
Statements on the going concern basis.
Income
All income is included in the Statement of Financial Activities when the company is legally entitled to the
income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlies
of the company being notified of an imponding distribution or the legacy being received
Donated facilities are included at the value to the company where this can be quantified and a third party is
bearing the cost. No amounts are included in the Enancial atatements for services donated by volunteers.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised
at the time of receipt.
Other Income ia recognised when receivable.
Government Grant Income
Grants have been received as compensation for costs already incurred or for immediate financial support,
with no future related costs; these have been recognised as income in the period they were received.
Expenditure
Expenditure is included on an accruals basis, when incurred.
Chae provison due charial actiots plus other purchase of material and services which relato directly
Support Costs -these are costs incurred directly in support of the charitable activities.
Governance- these are costs incurred in connection with administration of the Charity and compliance wit
constitutional and statutory requirement
14

SALTMINE TRUST (a charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
1
ACCOUNTING POLICIES (CONTINUED)
Fund accounting
General (Unrestricted) funds are used to support the Charity's objectives.
Restricted funds are those which have been raised by the Charity for specific programmes and projects
Fixed assets and depreciation
rens of copies nature tosing or 850 or capitalised, Deprecition i calculated to ward or the co
t the rates shown in Note 10
schl by eng and rosaid no. Lan do no depos las estimated residual value over the remaining
Operating leases
Rentals payable are charged on a time basis over the lease term.
Pension costs and other post-retirement benefits
Contributions payable to the Charity's defined contribution pension scheme are charged to the Statement of
Financial Activities in the period to which they relate.
Company status
The Charity is a company limited by guarantee. The members of the Charity are the trustees named on page
1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per
member of the Charity.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financia
nstruments. Basic financial instruments are initially recognised at transaction value and subsequentl
measured at their settlement value.
Judgments in applying accounting policies and key sources of estimation uncertainty
The charity makes estimates and assumptions concerning the future. The estimates and assumptions have no
material impact on the carrying amounts of assets and liabilities within the accounts
2
COST OF RAISING FUNDS
Publicity, advertising & fund-raising costs
Unrestricted Restrleted
funds
funds
37,507
37,507
2025
Total
37,507
37,507
2024
Total
32,270
32,270
15

SALTMINE TRUST (a charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENIS
For the year ended 31 March 2025
3
CHARITABLE ACTIVITIES
Materials (Merchandise)
Support costs (Note 4)
2025
Total
3,406
577,528
580,934
4
SUPPORT AND GOVERNANCE COSTS
Staff costs (Note 7)
Establishment costs
Total Support costs
Governance costs (Note 5)
Total
Establishment costs
2025
Total
471,528
109,406
580,934
4,220
585,154
5
Office overheads
Insurance
Fees
Rent
Motor and travel costs
Production costs
Depreciation
Bank charges
Other
Total
GOVERNANCE COSTS
739
Audit and Independent Examination Fees
Accountancy Other
Unrestricted
Restricted
funds
funds
2,975
1,245
4,220
16
-
2025
Total
2,975
1,245
4,220
2024
Total
565,453
565,453
2024
Total
€
473,623
91,830
$65,453
3,800
569,253
983
496
2024
Total
2,500
1,300
3,800

SALTMINE TRUST (a charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
G
NET MOVEMENT IN FUNDS
The net movement in funds is after charging:
Staff costs (Note 7)
Depreciation on owned tangible assets
Operating leases
Governance costs (Note 5)
2025
471,528
9,115
1,312
4,220
2024
473,621
9,208
1,312
3,800
7
STATE COSTS
Staff costs, including directors' emoluments:
Wages
Social security costs
Pension costs
Freelance staff fees
Training & other costs
2025
347,891
30,777
15,200
73,595
4,065
471,528
43,576
2024
374,752
20,272
14,514
61,545
2,540
473,623
39,999
Highest paid employee (CEO) (excluding pension contributions)
No employee received remuneration of £60,000 or more during the year.
The average number of staff during the year, calculated on the basis of
full-time equivalents, was as followa:
Senior Management
Administration/Office/Marketing
Charitable Operations (employees)
Charitable Operations (freelance staff)
2025
Number
1.3
4,4
7.6
2.3
15.6
2024
Number
1.3
3.2
7.5
1.7
13.7
The key management personnel employed by the charity comprises of the Chief Executive Officer and the
Operations Director/Company Secretary. Their total remuneration was £65,063.75 (2024: £64,560.04)
The average total number of full time and part time staff (employees and freelance staff) during the year was
21.8 (2024: 22.5).
8
TRUSTEES' REMUNERATION
No trustees received remuneration or expenses payments during the year.
TAXATION
The charitable company is exempt from corporation tax on its charitable activities.
17

SALIMINE TRUST (a charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
10
FIXED ASSETS
11
COST
At 1 April 2024
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Disposals
Chargo for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
Freehold
land and
buildings
Plant and
Equipment
345,000
94,451
:
3,608
345,000
98,059
Motor
vehicles
52,916
:
52,916
Total
492,367
3,608
71,300
4,600
75,900
83,859
4,515
88,374
:
52,916
20000 2005 002 278,0
At 31 March 2023
273,700
10,592
284,292
Depreciation rate
25% SL
25% SL
25% SL
An updated market valuation of £500,000 for Saltmine's headquarters was obtained from Paul Jackson FRICS
in August 2022.
STOCK
Books, media, leaflets & clothing
2025
£
0
2024
€
0
12
DEBTORS
Trade debtors
Prepayments
Other debtors
2025
18,486
2,113
40,000
60,599
2024
5,296
8,131
42,772
56,199

SALTMINE TRUST (a charitable company limited by guarantee)
13
CREDITORS - AMOUNTS FALLING DUE
WITHIN ONE YEAR
2025
2024
Trade creditors
Other taxation & social security
Accruals
Other creditors
6,932
8,056
4,318
19,306
6,395
6,775
5,278
452
18,900
CREDITORS - AMOUNTS FALLING DUE
AFTER ONE YEAR
2025
2024
Other loans
15
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted funds
Unrestricted funds
Fixed
assets
£
278,785
278,785
Net current
Long term
assets
liabilities
49,274
186,432
235,706
:
Net
Assets
49,274
465,217
514,491
16
RESTRICTED FUNDS
Total
Income:
Donations and Sponsorship
Expenditare:
Charitable expenditure
Net Income
Balances at beginning of year
Balance at end of year
107,823
76,9317
30,892
18,382
49,274
The opening balance of £18,382 consisted of restricted grants and donations received in the prior year related
to activities carried out in 2024/25. At the end of the year, after expenditure of restricted income is taken into
account, £49,274 is carried forward to 2025/26.
19

SALIMINE TRUST (a charitable company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
17
PENSION COMMITMENTS
le charity operates a defined contribution pension scheme. The assets of the scheme are held separat
om those of the charity in an independently administered fund. The pension cost represents contributic
payable by the charity to the fund and amounted to £15,200 (2024: £14,514).
18
OTHER FINANCIAL COMMITMENTS
At 31 March 2025, the charity was committed to making the following minimum payments under доп-
cancellable operating leases:
Operating leases which expire
Within one year
Within 1 to 5 years
2025
Land &
buildings
:
2024
Land &
Other
buildings
1,550
1,550
Other
2,862
2,862
19
RELATED PARTY TRANSACTIONS
There were no related party transactions during the year or the prior year.
20
POST BALANCE SHEET EVENTS
(see note 12 - Other Debtors).
20