FOR THE YEAR END 31 DECEMBER 2020 Cha17ty Number (Enwand and Wales): 1176241
SAUSBURY REFORMED SEMINARY FOR THE YEAR END 31 DECEMBER 2020 Contents Independent Examinerfs Report Balance Sheet 2020
Report of the Trustees For the year end 31 December 2020 31 December 2020. Charity Name and Nther The full name of the fvity is the Safthtry Refj Seminary (SRS). It is WISted ryth the Charity Comrnwion in Enghnd and Wales ith Chwity Number 1176241. Salisbury Reformed Seminary Grove Hcxtse 18, Wilton Road Salisbury SP2 7EE The Salisbury Refornied Seminary is a thitaik Inco[rA Ckgantsalion (CIO). registered as a Charity operating in acc%)rdan with its Goveming DOenl The Charity Trustees are all current or rntlY retired Church Minister5 or elders of Refonned Chith. On 31 Decemlw 2020. the Charity The trustees of the Charity WIK) seTved for all of Ihe year are as follow5: Rev Roland Burrows Rev Chris Buss Pastor RiLard A Clarke (Treaswer) Rev Simon Green # Rev Dewi W Higham (Registiw) Pastor David Kay Rev Pooyan Mehrshahi Rev Neil PFeiffer Mr Dale Roberts # Rev Jthn Saunders Rev John Thad(way Rev Malcolm H Watts # (Chairman}
Trustee of Emmanuel Church. SaliStry.
Sino the yew end there have been Trustee siall( as folhxE: Rev Simon Green (resigned 11 Fetyuary 2021) Mr Dale Roberts (resigned 12 Febrnry 2021) Both resignations were acwtsd by the TreeS m8etir¥J hehj rx122 Fetrw 2021. There have been no other changes of Trustees to date since the year-erKL The Trustees receive m remunerati( for their lecturing Servi and receive no addibonal benefits beyoNI what a regular benefi¢iary of the <*wity mKJht receive. Necessary expenses ara reimbursèd sutyect to approval by Treasurer.
SAUSBURY REFORMED SEMINARY Report of thè Trustees For the year end 31 December 2020 The Charity holds no title to property but operates in premises under a linse agreement th Emmanuel Church, Salisbury, vtho hold tide to those premtses. To avoid potenttal confiicts of interest arising at any time, no Twstee who is also an Offi bearer or member of Emmanuel Church Salisbury can vote on any matters where a potential com1ict may arise. The Trustees meet regularfy to Overs and approve all matte[5 relating to the Seminary, to set and monitor the annual revenue budget and review the tharity's strategic risk register. Independent Examiner Total Accounting Services 10 Drake Mill Business Park Plymbridge Road Plymouth PL6 7PS Bankers The Co-operattve Bank plc 1 Balloon Street mandster M60 4EP The Charity's Object and Activibes The Object of the Seminary is to advan the Christian reliqFon for the pubfic benefit in, but not exhaustively by, training and preparing Ministers for Refomied Churches primarily in the United Kingdom thereby factlitating public benefft by way of spiritual and practi¢a] ministy in the communities in which those churches are established. The Charity is involved in one a¢tNty and therefore, in the context of the SORP FRS 102 requirement to analyse the figures over acivibes, projects or services. the Charity's financaal statements reflect just this single activtty. Public Benefft & Impa The Trustees have regard to guidan published by the Charity Commission. including that in relation to Public Benefft. which requires that the Trustees make decrsKins which.. ensure that the charivs Purpl provrdes ben, manage risks of detriment or hami to the charity's beneficiaries or to the public in general from Carying out the charity's purpo. detemiine who benefrts in ways that are consistent wtth the charity's purpose; make sure any personal beneffts are no more than incidental. The Seminary ¢orrtinues to provide public benefft by adhering to its objective and continuing to r2rry out the activities referred to in this Report. This objective wrll not only bring glory to the triune God but immeasurable benefft to all who are to be subsequently inflUend by such adivity. Beneffts will be primarily spiritual, but there will atso be moral and practical beneffts too. For many, attending seiCeS for both Christian worship and the various meetings organised by the churches supplied with Reformed Ministers thoroughly equipped by the Seminary will have etemal benefft through the salvation of souls, an immeasurably greater benefft than anything that can be gNen in this world. In addition, help and encouragement for daity living will yield great spiriiual benefft too. We expect to measure impad by the many and varied anttctpated expressions of gratttude and support which will be received. sometimes telling of a person vtho has been saved through hearing the preaching and attending the various meetirtgs operated by the churches supplied with a former student of the seminary as minister. However, only etemity and the day of judgement will reveal the true benefrt and impact of the Seminary's wor
SALISBURY REFORMED SEMINARY For the year end 31 December 2020 The Seminary completed its thrd year of tiFratK on 31 Decnber 2020. Due to COVID 19 restrictions. the fff5t Graduation wemory Txas defeffed to Satyrday 3 Juty 2021. Throughout 2020 Ihe clr5e fOrt has twi as yew& i.e.. t> bk)cks of one week from Monday to Friday rxovKling 20 hLxJfs of lectures each week. The first week held in January and thg second in September. Ten sIrter blwks during Ihe year were held a Friday and Saturday eath month (other than January. Augus< aTKI September) providirKJ 10 h¢Jurs of lectures eath over the two days. Thts gives a total of approximately 140 hours per year. The students Spe the rest of their assign1 time in their hon (urches bwng mentored by their Pastors armyor Elders. reading. studytng. remuneration. Be¢xLtse of COVID 19 resknclm during 2020. lereS were delivered 'on4ine' where The fijll timetable is available to Vtew on the SemirArfs website. and and updates are provided to supwters. The annual op SI Day fK)t take pjw in 2020 due to the COVID 19 restrickns. The Trnstees are truly thankful to Grxl arKI lo all SUFpxth and vunt. The operating sUlUS was £5.656 in 2(r20. Incorne of £15.012 was mainly doftatio but included £4,500.00 being the course fees paid {or payable) by the six students fc4knvAng the course during the year. Operating expenditure was £9.356. incJJrred in resped of student burwies and other student supwt costs. propety rentat, and equiixnent to enhan rdIng qualty for on4ine lecture& The cash balance on 31 Drnber2020 was £63.228. Significant Events Two new students eTrrced on 01 JUary 2tr20. and stwlents graduated on 31 Decmber 2020. The Trustees believe current level of resefves shoukl be regk)n of £6.000 which presents around six months of annual expenditwe in a n(tyFCOVID restrKled year. However. in the earty years of Princip Rlsks The Trustees dI$S the Charitvs strategic fr(Yn time lo tine and a formal Risk Management Policy a1 stratJ1C Risk Register w1 be establish&Y next year kn erwre that all identified risks are managed effthty. Future The Seminary commerKe ts fourth year with furthw sttjdent and TMII ojnlinue to recmit addibonal dentS in accordano with the Charitrfs otfjedives. The premises in Grove House will Contin to refirbisW by EmmaThJel Churth with more sultable audio and IT equipment. Library faciliti&8 wal continue to be enhan(d. The Trustees anticipate that the support base of the Seminary will c4Nrtinue to be extended.
For the yw end 31 December 2020 United Kingdom Generally Accepted Accourthry Practice (Uniw lfjngdom Paountlng Standards and applicable law). The Ffftanlial Statents are rquired by law to give a ITue and fair view of the of the charity. and of its incmting resour(x and the appk2tion of resouw of the charity for that FWiL%J. In • select suitable accwnting policies and apply fhan (iste. • obsve the methods a1 principles in the SORP. • make judgments arKI estimates that are reasonab and ¥Klent ' prepare the finan(aal statements on the CCeM basis unless it is inappropri* to assume that The Trustees are resp1b for keeping prow records Ihat disck>se with Feasonable accuracy at any time the finan(ial p)sition of the d)aity arxj enable them to ensure that the financial statements rJ)mply with the app1¥ble law and the Laws aTxJ Regulations of the Society. They are also restM)nsible for safeguarding the assets of the dRrity and hence for taking reasonable steps for the preventton and detedion of fraud and other irregularilies. The TnteeS are resp)nsible for the Independent Examiner On behalf of the TNstees M H Watt4 ChaimHn 04 0(lober 2021
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustee members of SALISBURY REFORMED SEMINARY ' 31 Deber 2020 (rf any} 1176241 I to the trustees on my examirAtion of Ihe acc¥Junts of the above charity (Ihe Trusf) for the year ended 3111212020. As the ITUStees. are responsible for the preparation of the a(xx)unts in aC(X)rdan with the wuirernents of the Charilies Act 2011 Responsibilities and basis of report I report in rpspect of my eXaminan of the Trusys acjUnts carried out under secion 145 of the 2011 Act and in carrying out my examinatN)n. I have followed all the appli¢2ble Directions given by tt)e Charity Commission under sedion 1445Xb) of the Act Independent chariiys gross inc¢xne exceeded £250.fK)D and l am qualtfied to examinerfs statement urKJertake the examinatk)n by being a qUaliA member of AAT. I have corneted my examination. l (nfirrn that no material matters have come to my attention in connection with the examtnation {other than that disclosed below") whic gtves me r2use to beIieve that in. any matetTal the ac(x)unljJ recx)rds not kept in accordm with se(aion 130 ofthe Charibes Art or the ac¢ounts did (xxnply with the appE1ble requirements concerning the form and content of accounts set (Jjt in the Charities (Ac[nts and Rets) Regulalions 2008 other Ihan any requirement that the a¢xounts give a Irue and fairf view which is not a matter o)nsid* as part of an independerrt ¥xamjrotion. I have no nCernS ar¥J have come auoss no other matter5 in connectton wtth the examinatM)n to which attention should be drawn in this Teport in order to enable a proper understanding of the accounts to be reached. . Fyease delete Ihe Myds in th8 trackets rfthey do not apply. Signed: 0811012021 Relevant professional qualification(s) or body (rf any)= FMAAT I FIPA I FCPA I FFA IER Oct 2018
Address: 10 Drake Wll Business ParK PlymbrKlge Road. Estover Ptymouth PL6 7PS Section B Disclosure Only complete rf the examiner needs to highlight material matters of conom (see CC32. Independent examinatM)n of charity aunts. directions and guidance for examiners). Glve here brief details of any items that the examiner wishes to disclose. IER Oct 2018
SAUSBURY REFORMED SEMINARY STATEMEKf OF FINAPKIAL ACTivrriES FOR THE YEAR END 31 DECEMBER 2020 Total 3111212019 Income Donations 10,336 42,052 3,000 176 Total income Expenditure 11,692 Total expenditure Not incom• SAUSBURY REFORMED SEIIINARY BALANCE SHEEf AT 31 DECEMBER 2020 2019 Cash at bank and in harKI 63.228 57,092 Debtors- HMRC Gift Aid . prepanents Creditors 851 227 1.107 375 Unrestricw Funds Brought FoThrdrd at 01 January 2020 Net income for the year 24,157 33,386 AFproved by the TnL%tees on 04 October 2021 arKI sigr*d on their behalf ty. M.H. Watt4 Chaimmn R A Clathe. Treasu
SAUSBURY REFORIIED SEMINARY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR END 31 DECEMBER 2020 (a) Basis of preparion accounts. and in accordan with the chare$ Act 2011. FRS 102 and SORP FRS 102. The (b) Going concern (c) Income (d) Expenditurn BeuSe the dmrity only has 0 aLvity (i.e., Preparing ministers for the ministry), it is not (e) Volunteer help (fj Taxation As a registered charity. the Seminary is exempt fr(Kn income tax under part 10 of the Income Tax Act 2007. The seminary is not registered fty VAT. Irmne fwes indude Gift Aid as apFwiate. (g) Trustee expenses. No expenses were patd to ary of tr* Trustees duriry the wiod other than the nomial r imbursement of expenditijre inujffed on behalf of ts Semirwy. Studerrt Bursaries Grove House costs Student support Costs CameralRecording Equi¥Knent Trustees, expenses Advertistng BT annual charges ProfessÉonal fees VBiting Leciurers Library stock Greek in a week Open meeting lun¢tEs Postage 3.750 2,250 2.000 77 575 3,059 1,523 581 228 625 395 324 217 199 Total expendlture CreditorJ Fees paid in advar Independent examinati¢)n fees 750 150 207 375 Total Creditors 375