SALISBURY REFORMED SEMINARY
TRUSTEES, ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE YEAR END
31 DECEMBER 2021
Charity Number (England and Wales): 1176241

SALISBURY REFORMED SEMINARY
TRUSTEES, ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE YEAR END
31 DECEMBER 2021
Contents
Page
Report of the Trustees
Independent Examinerfs Report
Statement of Financial Activibes 2021
Balance Sheet 2021
Notes to the Financial Statements

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2021
The Trustees present the Annual Report and the Financtal Statements for year end 31 December 2021.
Charity Name and Number
The full name of the Chartty is the Salisbury Refonned Seminary (SRS). It is registered with the Charity
Commission in England and Wales with CharFty Number 1176241.
Seminary Premises and address for correspondence
Salisbury RefomRd Seminary
Grove House
18, Wilton Road
Salisbury
SP2 7EE
Structure, Governance and Management
The Salisbury Refomed Seminary is a CharitatrAe Incorporated Organisation (CIO), registered as a
Charity operating in accordan￿ with ts Governing Document. The Charity Trustees are all current or
recently retired Church Ministers or elders of Reformed Churches. On 31 De￿mber 2021, the Charity
had the following complement of Trustees in accordan￿ with its Goveming Document.
Trustees
The Trustees of the Charity who served all or part of the year are as follows:
Rev Roland Burrows
Rev Chris Buss
Pastor Richard A Clarke (freasurer)
Rev Simon Green (resigned on 11 February 2021) #
Rev Dewi W Higham (Registrar)
Pastor David Kay
Rev Pooyan Mehrshahi
Rev Neil Pfeiffer
Mr Dale Roberts (resigned 12 February 2021) #
Rev John Saunders
Rev John Thackway ##
Rev Malcolm H Watts # (Chaimian)
# Trustee of Emmanuel Church, Salisbury.
## Rev John Thackway VRS installed as Minister of Emmanuel Church. Salisbury on 18 June 2022 and
thereby becomes a Twstee of Emmanuel Church. Salisbury.
Both the above resignations were accepted by the Trustees meeting held on 22 February 2021. There
have been no other changes of Trustees to date Sin￿ the year*nd.
The Trustees re￿Ne no remuneration for their lecluring sep4ices and receive no additional benefits
beyond what a regular beneficiary of the L*arity might receive. Necessary expenses are reimbursed
subject to approval by the Treasurer.
The Chartty holds no title to prorErty but operates in premises under a li￿nSe agreement vlith
Emmanuel Churth. Salisbury. who hold title to those premises. To avoid potential conflicts of interest
arising at any time. no Trustee who is also an Offi￿ bearer or member of Emmanuel Church Salisbury
¢an vote on any matters where a potential confiict may arise.

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2021
The Trustees meet regularty to oversee and approve all matter5 relating to the Seminary, to set and
monitor the annual revenue budget and review the chanty's strategic risk register.
Independent Examiner
Total Accounting Servi
10 Drake Mill Business Park
Plymbridge Road
Plymouth PL6 7PS
Bankers
The Co-operative Bank plc
1 Balloon Street
Manchester M60 4EP
The Charity's Object and Activities
The Object of the Seminary is to advan￿ the Christian religion for the public benefit in, but not
exhaustively by. training and preparing Ministers for Reformed Churches primarily in the United
Kingdom thereby facilttating public benefit by way of spiritual and practical ministy in the communities
in which those churches are established.
The Charity engages in one activty and therefore. in the Gontext of the SORP FRS 102 reqLsirement to
analyse the figures over activities, projects or servI￿s. the Charity's financial statements reflect just this
single activty.
Public Benefft & Impact
The Trustees have regard to guidance published by the Charity Commission, including that in relation
to Public Benefit. which requires that the Trustees make decisions which:
ensure that the chartty's purpose provtdes benefiL
manage risks of detriment or harm to the charity's benefictaries or to the public in general from
carrying OLrt the diarity's purpose.
detemiine who benefits in ways that are consistent with the charity's purpose.
make sure any personal benefits are no more than incidental.
The Seminary continues to provide public benefft by adhering to rts objective and continuing to carry out
the activities referred to in this Report. This obj'ective wll not only briThJ glory to the triune God but
immeasurable benefrt to all who are to be subsequently InflUen￿d by such artivity. Benefits wtll be
primarily spiritual, but there will also be moral and practical benefits too. For many, attending ServI￿S
for both Christian worship and the various meetings organised by the churches supplied wrth Refomied
Ministers thoroughly equipped by the Seminary will have etemal benefit throu9h the salvation of souls,
an immeasurably greater benefft than anything that can be given in this world. In addition, help and
encouragement for daily living will yield great spiritual benefft too.
We expect to measure impact by the many and varied antiapated expressions of gratitude and support
which will be re￿ived. sometimes telling of a person who has been saved through hearing the
preaching and attending the various meetings operated by the churches supplied with a fomier student
of the seminary as ministsr. However, onty etemty and the day ofjudgement wtll reveal the true benefit
and impact of the Seminary's work.
Achievements and Perfomiance
Operations
The Seminary completed its fourth year of operation on 31 De￿mber 2021. The secorld Graduation
remony was held on Monday 03 January 2022.

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2021
Operations (continued)
Throughout 2021 the course format has been as in previous years, i.e.. two blocks of one week from
Monday to Friday providing 20 hours of lectures eath week. The first week was held in January and the
second in September. Ten shorter blocks during the year were held on a Friday and Saturday each
month (other than January, August. and September} providing 10 hours of lectures each over the
days. This gives a total of approximately 140 hours per year. All lectures are held at Grove house,
althou9h on-line lectures were necessary during the COVID restrictions.
The students spend the rest of their assigned time in their home churches being mentored by Iheir
Pastors andlor Elders. reading, studying, and preparing assignments. Apart from an occasional visitor,
all lectures are 9iven by the Ttustees withoLrt remuneration.
The full timetable is available to view on the SeMina￿s websrte, and occasional newsletters and
updates are provided to supporters. The annual Open Study Day was combined with the first
Graduation ceremony and took place on Saturday 03 July 2021.
The Trustees are truly thanktul to God and to all supporters and volunteers.
Review of Finances
The operating surplus was £4.580 in 2021. Income of £15,891 was mainly donations but included
£3,750.00 being the course fees paid (or payable) by the five students following the course during the
year. Operating expenditure was £11.311. incurred in respect of student bursaries and other student
support costs. property rental. and equipment to enhan￿ recording quality for on-line lectures. The
cash balan￿ on 31 D￿mber 2021 was £66,429.
Significant Events
One new studerrt enrolled on 01 January 2021. and two students graduated on 31 December 2021.
Reserves
The Trustees believe the current level of reserves should be in the region of £6,000 which represents
around six months of annual expendtture. However, in the early years of the Seminary a higher level of
reserves is appropriate. Reserves are held in an instant access deposit account.
Principal Risks
The Trustees discuss the Charity's strategic risks from time to time and a fomial Risk Management
Policy and Strategic Risk Register will te established early next year to ensure that all identtfied risks
are managed effectively.
Future
The Seminary will commence its fffth year withoLrt any further students and will continue to recruit
additional students in accordance with the Charity's objectives.
The premises in Grove House will continue to be refurbished by Emmanuel Church wrf(h more suitable
audio and IT equipment. ￿brary facilities will continue to be enhanced. The Trustees anticipate that the
support base of the Seminary will continue to be extended.

SALISBURY REFORPIIED SEMINARY
Report of the Trustees
For the year end 31 December 2021
staternent of Trustees, Responsibilities
The Trustees are responsible for preparing the Annual Report and the Financtal stat￿nents in
accordance with aPp￿Cable law armj regulations.
The Trustees are required to prepare financial statemerrts for each financial year in accordance with
Untted Kingdom Generalty Accepted Accounting Practice (United Kingdom Accounting Stsndards and
applicable law). The Financial s￿eMents are required by law to give a true and fair view of the of the
charity, and of tts incoming resour￿ and the appli(ztion of resour￿ of the charity for that period. In
preparing these financtal statemenK the Trl￿teeS should follow best practice and:
select suitable accounting poficies and then apply them consistently.
observe the methods and principles in the Charttses SORP.
make judgments and estimates that are reasonable and prudent
prepare the financiat statements on the going concem basis unless it is inappropriate to assume that
the charty will continue ils operattons.
The Trustees are resporisible for keeping proFer arzounting records that disdose with reasonable
accuracy at any time the financial position of the chanty and enable them to ensure that the financial
statements compty wtth the appli(xble law and the Laws and Regulations of the Society. They are also
responsible for safeguarding the assets of the charity and hen￿ for taknng reasonabie steps for the
prevention and detection of fraud and other irregularities. The Trustees are responsible for the
maintellan￿ and integrtty of the corporate and financial informatton included on the chartty's website.
Independent Examiner
Total Accounting se￿ices have indicated their willingness to orovide such seNices as appropriate. A
resolutton proposed at the Annual General Meeling wa5 unaniniously adopted to re-appoirrt them.
On behalf of the Trustges
H Watts. Chain77an
04 October 2022

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
SALISBURY REFORMED SEMINARY
On accounts for the year
ended
31 December 2021
Charity no
(rfany)
1176241
Set out on pages
I report to the trustees on my examination of the accounts of the above
charity (-thg Trusf) for the year ended 3111212021.
As the chariws trustees. you are responsible for the preparation of Ihe
accounts in accordan￿ with the requirements of Ihe Charities Act 2011
(-the Acr).
I report in respect of my examination of the Trusl's accounis carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 1495Xb) of the Act.
Independent tThe charity's gross income did not exceed £250.000 and l am qualified to
examiner's statement undertake Ihe examination by being a qualified member of AAT.
I have completed my examination. I confimi that no materÈal matters have
ome to my attention in connection with the examination (other than that
disclosed below ") which gives me cause to believe that in, any material
respect:
the accounting records were not kept in accordance with section 130
of the Charities Act" or
the accounts did not aG￿rd with the accounting records; or
the accounts did not comply with the applicable requirements
conceming Ihe fomi and content of accounts set out in the Charities
{AGcounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'tnJe and fairf view which is not a matter
considered as part of an independent examination.
I have no COn￿mS and have come across no other matters in connection
with the examination to which attention should be drawn in this report in
order to enable a proper understanding of the accounts to be reached.
' Please delete the words in the brackets rfthey do not apply.
Responsibilities and
basis of report
Signed:
Date:
1211012022
Name:
A P YERRELL
Relevant professional
qualification{s) or body
(rf any):
FMAATI FIPA I FCPA I FFA
IER
Oct 2018

Address:
10 Drake Mill Business Park, Plymbridge Road. Estover
Plymouth
Devon
PL6 7PS
Section B
Disclosure
Only complete if the examiner needs to highlight rnaterial matters of concem
(see CC32. Independent examination of charity accounts.. directions and
guidance for examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
Oct 2018

SALISBURY REFORhlED SEMINARY
STATEMENT OF FINANCIAL ACTivrtlES
FOR TbiE YEAR END 31 DECEMBER 2021
Total
3111212020
Income
Donations
Fees
Deposit interest
12,123
3.750
18
10,336
4.500
176
Total income
Expenditure
Charitable actNibes
11.311
9.356
Total expenditure
Net income
BALANCE SHE￿ AT 31 DECEMBER 2021
Total
2020
Net Current assets
Cash at bank and in hand
66.429
63.228
Debtors- HMRC Gift Atd
1.772
851
227
Creditors
422
1,107
Total Net Assets
Unrestricted Funds
Brought forward at 01 January 2021
Net income forthe year
63,199
4.580
5,656
Carried forward at 31 December 2021
Approved by the Trustees on 04 October 2022 and signed on their tehalF by:
r4.
M.H. Watts. Chainnan
R. A Clarke. Treasurer

SALISBURY REFORMED SEMINARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR END 31 DECEMBER 2021
Accounting Policies
(a) Basis of preparation
These financial statements have been prepared under the historical cost convention with items
recognised at wst or transaction value unless othe￿iSe stated in the relevant notes to the
accounts, and in accordan￿ with the Charities Act 2011. FRS 102 and SORP FRS 102. The
Charity meets the definition of a public benefft entity under FRS 102.
{b) Going concern
The Trustees have no Un￿rtaInty aboLrt the seminary continuing as a going concern.
(c) Income
All income ts recognised On￿ the chartty has entitlement.
(d) Expenditure
Because the charity only has one adivty (i.e., Preparing ministers for the ministry), it is not
necessary to apportion trustees. expenses between cost categories. All figures include VAT.
(e) Volunteer help
The value of volunteer help is not induded in these financial statements.
(fj Taxation
As a registered chanty, the Seminary is exempt from income tax under part 10 of the Income Tax
Act 2007. The seminary is not registered for VAT. Income figures indude Gift Aid as appropriate.
(g) Trustee expenses.
No expenses were paid to any of the Trustees during the period other than the nom)al re-
imbursement of expendwture incurred on behalf of the Seminary.
Charitable activities
Student support costs
Grove House costs
Trustees, expenses
ITICameralRecording Equipment
Visiting Lecturers
Printing
Advertisin9
Professional fees
Open meeting lunches
5.300
2.160
959
938
913
401
308
210
122
4.753
2,362
689
833
395
324
Total expenditure
Creditors
Fees paid in advan
Student support
Independent examination fees
Trustee expenses
HM Revenue and Customs
750
150
97
125
150
207
Total Creditors
422