REGISTERED CHARITY NUMBER: 1056606 Report of the TNslees and Flnandel Staten￿ts for thé Year End￿1 31 August 2025 for SplrttusTheologl¢al College Gravita Autht Westem Limited Charter&d ACc￿lntants aThJ statUt￿Y Keb￿ Ho Southemhay Gardens Exolef Dev EX1 1NT Splrftus Theolool(¥l Colloge Contents of the Flnandal Statements For the Year Ended 31 August 2025 Report ol the Trt￿teeS Aew)rt of th6 Independent Exarnlner Statement of Fina￿lat AC￿lIeS Balance Shgel 10 Not88 to the Financlal Statements Splrlius Theokngllxl C¥Jllege Rgport of thg Trustees For the Y￿1 Ended 31 August 2025 Tho trustees we8eni their rep)rt vAth ￿ firw￿l￿ slalements of the Charity for the Ye￿ &nded 31 ALvJusI 2025. The trustees have ad(4)ted the w0vis￿n8 ol the Statement of RecommeThJed Pract[￿ ISORPI 'Accountiru and Rep￿1￿ by Ctsilb8s' in wepar¥ig the annual repJrt and finaThial 8taiements ol the Gharty. REFEREIKE AND ADMIMSTrATIVE DEfALS Reglstered Charlty nun*er 1056606 Reglsler¢d olfl The Epiphany Trust (TrE¥ol Ltd Kewn Church Road Truro Cornwal TR13DR Trustees Revd CaTh)n Prof. Morwerna L￿j￿W Rt Rev Hugh Nelson Charles Mills Hamish Adam Dr Adam Dunnir Th8 Rt. Flevrd James Gr Sally Pl￿￿ Rèv'd Dr Benjamin Ajdws Hannah Fosl R￿hard Orr Rev Andrew Fafftier Flt Rev Davbj Grant Willwrns AesvJn￿ 06 Decerntw 2025 FI￿r￿1 30 April 2025 R￿n￿l 06 Deeernber 2024 ResKJmY 01 September 2024 AF¢KJinted 21 March 2025 AFfX)inted 01 J￿Y 2tr25 Atptiinl￿ 09 O)[￿MIer￿ awoath lo these areas and is ￿t afraKI to exp8rirnenl.' He went on to say that 'Tfus is a r￿k1 *lracts non-trath.tiOn￿ sludenls and r8sults in a quite MIX￿ séi d oulcw. Sritrilus au)ears to weu with this cohort of stud¢nts, SUPFQrting them In ways ttwl allow them to altain results in line wlth the bro&Jer sector., Foimatlon Progr8mmes We (x)ntinued to evaluate IK)w w8 ths Ihe fOrynat￿￿ of our mnistetial stut*nts, making changes lo ensure r( is rd8vanl and rig)rous. Th6 formationat Ihread, ￿nsiSts 011) Formation S88sions on the SurKlays of resmlential weekerMLs, 21 The Leaming JoLrnai, which is dis¢uss￿l with a Journaf Tutor. 31 the Formation Groups whK* me* betW8en each reshjontial a￿1 41 East&r/LeN School. We a180 reviewed tho sT￿ure crf our resKlenikil weekth. Students rKJ I(￿￿r stay ovemuhl c Fridays and to Compensate thB. more Sessic￿S have tEen al*1￿1 lo Sundays. Sustalnablllty The Se￿￿ level *Jwments with ￿trI Ihe Dic*xe of Exetw aThJ Truro to delivw LLM {Re￿I￿rI Imning werg reregolialed ljelween October arKI Dec￿l￿ of 2024. The result was that cost paid by th8 dioceses Fer Si[K￿nt has 5thtanti￿IY re(Jj(￿d. The Charity has IntrThYu(*l new programmes ol SIts￿Y trj its portfolk) aimed to decrease the antI￿pated change in furKJing arkj is sgeknng to ext4org further (Yjwses to enha[￿ fundlng orportunities. TnJstges have agreed lo rejease mow from reseryes IOT strategic d&velopmenl work ar7d product develcyment. In ad(Slh)n. several grant OkPOrtunttEs are LEing explored which should identify areas c)1 study ￿rtI￿Snt to eihJCaiic￿ ar* tranirKJ of rnirxstries within the Church of EnglatKI as well as the wKler Church. Furthermore. the Charity has moved womlses lo rec*Jce ovetheads ￿ soughl lo ¢ul eX[￿d[tur8 vhwe possit4e. kn enhanced emplHsis was ptrt on the chwily's ￿rSary lund exists io suw St￿￿ts y￿￿'no lo take up CXW￿8s. Staff Staff ￿Mair￿d relatNely stat4e over Ihe yw. T￿ Marc Kaslrw was app￿nI&l as Strateg operat￿n$ C¥ficer and Mr Jthn rewr￿ to take w aTh)ther kXÉt in Ytyk Diocese. Splrftus Theok)gl(*l College Report ol the Truslees For Ihe Year Ended 31 Augusl 2025 orga￿$01[0n Mrs Hannah Foster aThJ Mr Rrhard Orrjoinod Stmritus as Trustees. Hamish Adam and Sally Flper stepped dovffl dug to ￿t'reme￿. Mr Ben AlIk)￿ akn w[l￿r￿* fr(Kn the Tri*tee txjard. SaleguardlrwJ Safegu8rding contlnLES to take a very hwJh pri(th at girl￿JS. ￿ safe￿ardir0 officers are Rev Hannah Mears, Mr Dawd Harwood and the Rev Dr Lucy Larkin. The trust￿ resportyue for safeguarding in th8 year 2(r24-2025 was tt* Rev Prof Morwgnna iAKllow. W8 ensure that our students attend the relevant saf￿UarthNJ traiThng weave safeguardlJ￿ into the academic and formaliond ieac*iro. FINAMCIAL REVIEW Rgserves policy Any Sur￿u8 of irKome over expeno7ture is rela￿￿ to enabje the company to pursue ils ciigctives. Resewes are held lor the followirvJ wrposes: to cover l￿eX￿ted s￿rtI￿lS n incclne from It)￿[ stud8nl nunbgrs CL¥npared lo 01￿110r$., to ensure IhalfLKKls are awL9ble to mget the bjal emkrfoymentenlrf(leM￿Jts of Charity staff. to en￿& the Charty lo meet emero8ncy cdls arisiNJ Irown protEty damage (x equipment lailures.. to enatle the Gharity to (x)ver expen(knTe durityj the lime that it *￿UkI lake to ayjust to a m84or Change resullTTrJ trom extem￿ a￿1 irresi4bt4e l¢xces. The pxilky of the Chaiity Is to hord 17 generaj reserve sufficlent fLwKJs lo cover Th)t le￿ than three months of nom)al I￿)rking eXp￿NI￿￿1re. At year-èrKI a lolal of £397.547 was held in res&rvès. £403.659 was held in liquky assets. level ol reserves is consKI8r￿ lo be ad84uate. Plans for future perlods The Charity's oL¥'ecls for the future are lo makg a wry)lus in order that the Charty's reseNeg can be aU￿￿ellted and maintained in acCOrdar￿ with ttrE r&serves pcAy. Due lo the ovgr811 thop in tncorne frorll th& Ser￿e Level ￿reement ￿th Exeter (fiwese in 2024. the charity underwgnt a IDSS last ye￿, however fErture kjsses are b&iw mitbJaled against by I￿￿Ing w(xluct devdopm*rt. mthetlry strateg￿S and dversificatK)n ol iicome streams. Inves1ment pollcy and obje¢llvos 11 is the policy of the company to m￿Mise irwgslment income while rninimising risk a￿1 to ensure that ￿] Investm￿1$ are stricvy eth￿￿. Spiritus Theologlcal Collegg Report of the Trustees For the Year Ended 31 August 2025 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible lor preparing Ihe Report ol the Trijslees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charities law requir&s the trustees to prepare financial statements lor ea¢h financial year which give a true and lair view ol the stale ol affairs ol the Charity and ol the in¢otning resources and application ol resources, including the income and expenditure, ol the Charity lor that period. In preparing those financial statements, the trustees are required lo select suitable accounting PDlicies and then apply them Consistent￿,. observe the methods and principles in the Charity SORP.. make jLJdgements and estimates that are reasonable and prudent., prepare the financial statements on the going concem basis unless il is inappropriate to presume that the Charity will continue in business. The trustees are responsible for keeping proper accounting re¢ords which disdose wrf£h reasonable accura¢y at any tirne the financial position ol the Charity and lo enable them to ensure that the financial statements ¢omply with the Charities Act 2011. They are also responsible for safeguarding the assets ol the Charity and hence lor taking reasonable steps lor the prevention and detection ol IraLJd and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDrroRS We, the directors ol the company who held office al the date ol approva ol these Financial Statements as sel out above each confirm, so lar as we are aware, that.. there is no relevant audit inlDrmation ol which the Charity's auditDrs are unaware,. and we have taken all the steps that we ought to have taken as directors in order lo make ourselves aware ol any relevant audit information and lo establish that the charity's auditors are aware ol that information. In apprtsving the Trustees, Annual Report, we also wrove the Strategic Report included therein, in our capacity as Gharity trustees AUDITORS The auditors, Gravita Audit Western Limited. will be proposed lor re-appoinlmenl al the forthcoming Annual General Meeting. Apwoved by order ol the Board of Trustees on Z&1 *1 and signed on ils behalf by.. Rev'd Canon Prol. Morwenna Ludlow- Chair ol Trusl*s Report of the Independer* Examlner to the TNstees ol Splrllus Th￿lOgICal Collego For Ihe Yeor Ended 31 August 2025 Independent Exwnlnerfs Report to the Trusiees of Splrltus Th￿logIcal &)Ilege I report lo the charity INstees on my examinatt*n of the acc¢Junts ol the charity for tho year ended 31 Aug￿￿t 2025 wh￿h are sel on t￿ge9 7 to 18. Respon￿bIllIeS or&1 basls ol reF As the tharity's trustees you are responsiilè lor tho ol fv actounts in acc(*dance with th8 rgwirements of the Charities Act 2011 Ilhe Act'i. I reKM)rt in respect of my examinatlon of the charity's a￿(￿Jnts carri￿1 OLrt u￿ler geetion 145 01 tha Act a￿1 in (xrrying out my examinalion I have IrAlowed an the arwicable Directions gNen by the Charity Commission under Secti(￿ 145(5){bl ofthe ACL IndepeThJent examlner's statement Since the charity's gross income excethl £2￿.0[￿] examirEr musl te a member of a ￿dY lis1￿1 in section 145 01 ihe Act. I confiim that l am (palrfied lo undertakè the examination because l am a member of the ICAEW, whith is one ol the list￿1 LNxlBs. I have completed my examination. I crmfimi that no maleriaj matters have ¢xJme to my attention in conn6clion with the examination giviw me cause to believe that in any material resp￿t. accountry records vrtre rx)t kept in resp￿ ol the th8rity as required by section 130 01 the Act., or 2. the a(Kounts (kn not a(Kord ¥￿th thc6e rwds: or 3. the a￿OUnts do nol Comp￿ wtth ￿ atwlcable requirements r*)nceming the form and content of accounts set out in the Charittes (Awxnts ￿ Rgwrtsl Regulalions 2008 other any rewlrement that the ￿jUnts gNe a lair ¥1￿, whkh Is rv)t a Matter consK18r8d as part of an indeFo[￿nI examin9tKYL I have no cOn￿mS hav& come a8r 2019. The linanGid slatements a￿ wepared ￿ a g(MThJ basis un(kr th8 hlstorical cost conv8nlion, modrfied lo Indude Cert￿n rtems al lair The li￿￿￿al statèments are pr88ented in st8rfing whlch is th& functi1)n￿ currew of ts chartty. Th¢ sKJnlknnt aco)untiNJ pc4Kies a&￿ied in ts preparatKm ol IPRse tlwnc1￿ statements are set out below. Thèse Fdicies have b88n Wnst￿en￿Y 4VI￿ lo all years pr98enled unless olharwise slat Incomlng resour All incoming re￿UrCeS are the Slatement ol FIn￿￿la1 ActNit*s vthen th& Charty is ajly entitled to the income and the amount can t* qUanIffi￿ Y￿[h reasonaL4e a￿raCY. Resources experKled Expendilure is acoxjunlthl for an a￿nJal$ basis ar¥J has b8en c4assffied urm1￿ headirwJs that aggregate all costs related lo the rateg¢xy. Whgre costs eanTh)I be (Ireclly attrbLrted lo particular heading8 they have be6n to on a trAsis c#xtsistenl wlh thè use of resoLV￿S. T8nglbl? flxed assets Depreclatw)n is provic￿d at ￿ lo1knw1￿ annual ratss tyi orfer to off asset over its estimated useful life. OFFI￿ Ilrniture Computer e(¥Jipment . straiJht line over 5 years - stravJhl Ine over 3 yews Taxation The Charty is exryt from corporation tax on its d￿ritatr￿ ￿tiv￿les. Fund aceounllng Unreslricled lunds can be used in ￿0rdar￿e with the ¢￿Arita￿ obj￿i￿e$ al Ihg discretion of t trustees. ReStr￿edIunds can orly1￿ usedfor particu[& rthicted wposeswithinthectyectsof the Charity. Restr￿￿)rE arise when srxified by th& Lt)nor (Y fwKls we ra¢sed Iw particular reSt[￿ted purroses. Splrftu$ Thwk)ty￿l College Notes to the Flnanclal stateM￿rtS For tho Y￿r Ended 31 August 3]25 Further eXp￿natiOn ol thè nature arKI wrFX%8 of eath lurKI is tThludBd n th8 notes to ihe financlal stalemenfs. Penslon cosls end other posl-retlrenwrt beneffls Thè eharity participales in ￿ (knfined (x)rIT*￿trOn ￿￿10n sthemes. F￿1 det￿19 oflhese schemes are providgd in Note 18. Lforary No monetary vdu8 is attrit&rted to the ￿l￿ary arKI dl ex￿￿fftUre is wrilten off lo the income arKI eXpe￿Illure a¢ciMJnt. L￿Se5 Ass8ls acqured uNJgr finance leases ￿￿tarts￿l depwiat&Y over the shorter ol the lease term and the exwled useful life of the asseL Minimwn lease payrnents we 8pportK>n8d ￿tw8￿n Ihe fina￿8 charge abNI the reductton ol th& outslarmlng lease liatxltty using the èffectrve Inteiest m&ttrKxY. The related ¢*ligations, nel ol Ithlwe finance tharges, arè inCl￿d in creditors. Rentats payable aThJ reeeivthe u￿ler operabtwJ teages are d]arged to thè ￿A on a sIr￿ght line basiq over the period ol the l&ase. Slgnlflcant ludllements ond key sources ol egllmalkin uncertalnty The aocounts contaln sigThf￿anE IL￿e￿enlS aThJ estknaies as loll(RVS: Acxyuals and yepayTnonls wF¥ch are based on infiThat¥)n availth at the tlme of th8 audit. 2. INVESNENT INCOME 2024 Depo￿1 ￿￿nI Interest 4,470 4,470 5,931 3. INCOMI￿ RESOURGES FROM CHARtrABLE AcrivrnES 125 2024 ATrJlican sludwr188s ￿l￿ellaneDUs IrKX)me Diocese ol Exeter Serv￿0 Contr&ts 195.978 29.459 108.791 154,677 263,077 334.228 424.399 Splr#us Theologl¢81 Colleg Noles to the Flnanclal Statements For the y￿ Ended 31 August 2025 4. CHARrrABLE ACTIVtllES COSTS 2025 Academic ¢08ts EmployThenl c Establlshment Costs Encountering Th￿10 8.484 248,154 30,658 78,473 365.769 235,474 101,786 379,390 5. GOVERNANCE cosrs )25 2024 Trustees, eX￿ng8S A￿lItOrs. remuneration Accountancy a￿1 prof￿￿￿ fees 75 6,270 14.192 20,537 9.3( 10.040 19,340 6. NET INCOMIN￿ RESOURCES Net res￿r¢eS are slated after ctrwgTrig'. 2025 2024 Dewecl8tlon- as8el8 2.fK)I 1,401 Splrféus Theowcal College Notes lo the Financl81 Stalemonts For Ihe Y￿r Ended 31 August 2025 7. ITIUSTEES. R￿uNERATIoN AND BENEFITS There were no trustees. reMUneratiC￿ or bwEli15 the year ended 31 August 2025 nor for th8 year ￿￿ed 31 August 2024 2025 2024 Truste8s' expenses 75 8. STAFF COSTS 2024 aTKI ￿laries Swial s￿ritY costs Other co* 198,023 8.737 23,092 200.861 11,860 26.6D3 The average monthly number ol 8mt4oyees dL¥h)g year Yas as folksws: Y)24 Staff 10 10 io 10 No efflpbyees r￿gIve￿ emcduments in excess of £60,LI)O. SpirltusTheokngl￿I College Notes to Ihe Fln8ncial Statements For Ihe Year Ended 31 Augu* 2025 9. COMPARATIVES FOR THE STATEMEKf OF FINAMCIAL AcllvmES iknrestrlcted Re8blct•d Total l&)tss Funds frJnd$ Funds INCOMINQ AESOURCES Incom1￿ re8ource5 Irom gen8rt8d funds Investment it￿￿￿e 4.470 4.470 Incoming r￿Ure65 from charllablè ￿tIVItIeS 424.399 424,399 428 869 RESOURCES EXPENDED Charll*)10 oetlvlti8s Governanee costs 365.103 3).S37 365.769 20.&87 MET INCOMING RESOURCES 42.583 Other reeagnbed galnsIU¢s￿) G￿n$ invesbnent assefs 13, 13,564 RECONCILIATION OF FUIIDS Totsl ftTnds brought forward TOTAL FUNDS CARRIED FORWAFID 407,764 404.772 460,899 Spiritus Theologlcal Collegg Notes to the Flnttnclal Ststenwnts For the Year Endod 31 August 2025 10. TANGIBLE FIXED ASSETS Compuier Equlpment Furn￿1? Total Co$1 Cc6t blf Athlllons DL*w5￿8 13.889 1,172 19,885 1,172 DBpre¢latlon D8pre¢iation bll Charp for ￿8[ EliMIna￿ oll dispr￿ 4,743 594 11.5C(J 1,407 16.243 2.001 DeprecIatI￿ cjl 18 Nel Book Value Nel lyy)k value carrfed forward Nel knok value b￿￿ght frmr(I 659 1253 2,154 2,813 11. INVESTMEKrs Investmont8 Marketvalue At I September 2024 RevaluatK)rns 199,445 I6.￿9) At 31 August 2025 193,386 Nel Book Vafue At 31 Augu8t 2025 At 31 August 2024 193,386 199,445 Invesknents are hekl wlh CCLA Splrllu$ Tlwlogl￿l College Notes to tho FIn￿cIal Statements For the Yo&r Endgd 31 August 2025 12. DEBTORS: AMOUMTS FALLI￿ DUE ONE YEAR 2025 2)24 Trade dd)lors Other (leblor5 9,813 7.081 2.8 2,3&3 18,894 I& CREtwroRS: Amouiifs FALUNG DUE WITHIN ONE YEAR 2025 2024 Trade crecrit￿S Taxation and srKld S￿rity Otsr credlo 7,495 3.227 17.438 340 5,168 9,074 28,1 FK) 14,582 14. ANALYSS OF NET ASs￿s BETWEEN FUNDS Unrestrlcted ReBtrfcted fund fund 2024 FIX￿ wots Currwrt assets Current liabllilies 196.199 7.1eé I28.1￿) 395.205 2D3,087 272,394 114.5821 460.899 13 128,1601 397.547 1342 SplrMusThgobglc&l Collego Notes to the Flnanclal Statements For the Ywr Ended 31 August 2025 15. MOVEUEKf IN FUNDS At 01/￿)12024 movement In lund$ At 31108r2025 Unreslrlcted lunds G￿eral d&8ignated IuJK18 458.557 1&3,3521 395,205 Resirfcted funds Reslri¢tgd lund 2,342 TOTAL FUMDS 460 899 897 547 Net movernenl in funds. i￿1[**d in the ab￿ are as fc4kTh8: Galns. Resource8 108*5 Movemgnl 1M$f&Y8 In fund8 I￿)mIng Unr¢8tricted lunds General and des￿nat￿j iunts 340.159 3￿,730 {4.7811 1&1,3521 Restrfctsd fvnds Resiricted fu￿$ 340,159 398.7 4,781 63.352 16. FINAIUIL COMMffMENrs At 31 August 2025 the charity total commitments rnrtrCanC*llab￿ operating leases over the rem&nlng life of th￿ leas8s of £Nil12024 - £Nil}- 17. RELATED DISCLOSURES The trustees havg complet￿￿ Dedaratii)n of Inlerost fom)s arKI have consider￿￿ wheth9r thwe have b&en any transactions with rdatwj partEs that sFKxAd be thsclosed. 0￿￿1g the year £15.64512024: £9.9061 of incoTh was recerrf&J Irom The Truro Diwesan B(Mrd of Finance Umited, an entity with Shar￿ tnjstees. Splrftus Th￿lOgICal Colle Notes to the Flnarkclal Statements For the Y￿￿ Ended 31 August a)25 18. MEMBERS, LIABILITY In the ovenl of wirKJing up, every memb8r of the Board ts lo ￿￿trIbUte a sum not exceeding £10 towards the (kbls and Ik7￿111￿eS ol thity arnl the cogt. tharges 0Xp￿Se$ of windlng up. 19. PENSION AND OTHER POST41EfREMEKf BEMEFrrs Church Workers Ponslon Fund ICWPF) Spirrtus Theological College parUcipat8s in thè P￿0￿ BiMl¢*r S¢kne section of CWPF for lay staff. CWPF is administergj by the Church ol EnulaThJ Pensions Board, which holds the CWPF assets separatety from those ol the Empk)yer a￿1 other parbrypatir¥J eM[A)y￿S. CWPF has two sectKins." the D8fined Beneffts the Pengon Buikjer Scheme, wtr￿Ch has sLbs￿l￿r￿,. a ¢Jeferred anrNJity section kr￿n as PtsMsi￿ BuikJ&r Classic. an a cash balanc8 sthin kno￿7 as Pensrcm Buikkn 2014. Pension Buiider So*eme Both sections of the PènsKm ￿lIder Scheme are daS￿d as defi￿1 ￿n￿lit s¢kn88. Pension Builder CAassic provKles a pen￿￿, a￿umU￿t￿l from ￿ntri1XJti0nS tmid and converted into a defe￿ed annuity dLYing empbyment ba￿d ￿ temis sel and reviewed ty the Church ol England PensK)ns Board from lime lo time. DL8udk)rory increas8s may also ba added, depgnding on Inv8Stmenl returns and othw I￿lor* Pension Budder 2014 is a cash baJarKe ￿erne that provk*8 a lump sum whith members use ID provkle benefits at retiremenl. Pension ¢(￿trIyjIiOns we recorthd ￿ an aw)unt for each member. Discreti￿ary tr￿n￿Se$ maybe a(&￿1 befo￿ retir8menl, deFRfKliig ￿ investment retums and other I￿tOrs. The a(rounL Fdus any 1x>r￿se$ the1ar￿1 IS FKqyaAe, ￿r￿j￿ed, from a9e 65. Ther8 is m subQiv1s￿n of assets bth88n ￿P10yerS in each sedK)n of Pa￿lOn Buikler SL*erno. The sd￿me is consbje￿j to b8 a Mull1-wn￿0yeT SCh￿)e as descriw in S￿￿0￿ 28 of FRS 102. This is because il is not possitAe lo attrtjule the Pension Builder Schemg's assèlg and liabililies lo speclflc employers and means that cOntri￿S are ￿[x)unted for as il the Sctrwe were adgfined contribution scheme. The pensions costs Char￿ lo the SOFA in the year are the c1mlrit￿Ilo1 payable of £4,9LY212024.' £8,342). A v￿￿tr.0n of PeFksK>n BLllfvJer s￿￿ can1￿1 oth every yeaN Tho nTht y￿￿al￿ Wds carri￿1 ￿ as al 31 D￿￿20?2. F(x the Penson Buildw ClasEic g￿t￿￿. ts valJatKffi rwt8d a ￿j￿IS of £34.8rn on the orwbYJ aSsump￿)r￿S u￿. Al ￿ most re￿ revieweffth* 1 January 2025. th8 PA)ard chcBe lo ￿an1 a clscretionwy bc¥)us o16.7Yo lo tx)Ih pertsM￿s notyet n payirth t￿9￿)n$ in payment in respe or S￿¥K% piorlo ￿ 1997., ￿ a trAJnus payM￿tt in resp￿t01 FX)St Apil 2006 s6rvi so th* pewon I￿rease was 2.PA I￿￿ LW il w(MAd be cakulated tas&S on infLAt￿n LP to 2.￿/.}. This f(*hved imwovements li ￿ hnYirrfJ wa124. Thwe requirernerrt f(wdthit payrrwts at the cur￿1 time. Th8 next w41ua1K￿ B due as at 31 DWitw￿l2s. CaU￿1KM$ forts aro c4nenty V￿ler￿aY. 10 Splrmus The0￿gICal College tes to the Flnanclal Statements For the Year Ended 31 August 2025 For the P￿slon 2014 rev&thl a oryJokng assLKnplK)fL8 used. Therg 15 rn rWeI￿ fr*d*iL FwnH)ts attrE￿rrent tim8. Th81gga 81n￿l￿e ol scheme E su(* that rf amther èmther lai&. Spritus Theological Goll8ge could bewme r8sporL8I)18 lor paykng a share of ts la￿ emph)>￿8 Ken￿n liaLyliUes. Church of EnglaTrd Funded Penslon Fund (CEFPS) Spiritus Theologkal College partiiFts in C¥xuth ol EThJa￿l FurKI￿1 P￿$m)r6 Sthme for s￿per￿lary dergy, a ￿firEd per￿￿ thn*. Tlis &thme is admill5t￿￿ by Ihe of Er0[a￿l PersKTh Board, hokL8the￿ts￿th9s(*Pme syaldyfrorn UK6eol1￿ Resp￿*￿8 Bad￿s. h part￿Pat￿g Body