2022-12-31-accounts

SAUSBURY REFORMED SEMINARY TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMEKrs FOR THE YEAR END 31 DECEMBER 2022 Chaity Number ￿En￿and and Wales): 1176241

SAUSBURY REFORMED SEMINARY TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMEKfS FOR THE YEAR END 31 DECEMBER 2022 Conlents Page Report of the TFU5tees Independent Examinefs Report Statement of Financial Activities 2022 Balance Sheet 2022 Notes to the Financial Statem

SAUSBURY REFORMED SEMINARY Report ofts Trustees For the year el￿ 31 Decefflber 2022 The Tntstees Fresent ts knnual Re￿#t arma the Finanrial Statements kn year end 31 De￿mber 2022. Chaiity Name and Number The full narne of the Charity is the Salisbury Ref(￿ined SemThry (SRS). It is registered with Charity Commission in England and Wales wth CTrwity Nunknr 1176241. Seminary Premises and address for c47rrewdence Salisbury Reformed Seminary Grove House 18, Wilion Roaj Salisbury SP2 7EE Glo Tabwnade Cardiff Pen-y-￿din Roa. Roath. CF24 4GG Structure. Governanco and Managenwnt The Salisbury Refoffl￿d Sernirrary is a Charilable Incorwred Organisation (CIO), regisiered as a Charity operating in auyjrdance ith its Goveming DocumenL The Charity Trustees are all ￿rrent or recenly retired Church Ministers of Ref(Yrned Churches. On 31 Decetnber 2022. the Charity had the following CoMple￿Ent of Trustees in a(thrdan(x with its GoV￿nIr￿J D(xwmenL The Trustees ofthe Charity WIK) sfftd kn ai ￿ Fqrt ofthe year are as follows". Rev Roland Burrows Rev Chrsstopher Bu&$ Pastor Richard A Clarke (freasurer) Rev Dew W Higham (Registrar) Pasior David Kay Rev Pooyan Mehrshahi Rev Neil PFeiffer Rev John Saunders Rev John Tha¢A<way ## Rev Malcolm H Watts # (Chavman)

TNstee of Emmanuel Clwrth. Sali5twry.

Rev John Thackway was installed as Minister of Emmanuel Church. Saltsiw on 18 June 2022 and

thereby beojnes a Trustee of Emmanud Churth. Salisbury. There have been rK) other changes of Tnjstees to date Sin￿ Ihe yearTKI. The Truslees receive rx) rernUnerat￿ kn thew knrirvJ Servi￿ and T￿￿1ve no athjitional benefits beyond what a regular beneficpry of the thrity might re￿1¥@ Necessary expenses are reim1￿rSed SUbi￿t to ap[￿0Val by the Treasurer. The Charity holds no title to property but operates in premises under a It￿nse agreement Emmanuel Church. SalBbury. to those premis& To avoid wt&itial ￿nIlIc[S of interest arising ai any tvne. no Tfustee who k8 aso a TALStee of Emmanud Churth Salislyjry vote on any matters where a Wenlial confiid may arise.

SALISBURY REFORMED SEAIINARY Report of the Trustees For the year end 31 December 2022 The Trustees meet regulaty to oversee and approve all matters relating to the Seminary, to set and monttorthe annual revenue budget and review the thari￿5 Strateg￿ risk regster. Independent Examiner Total Ac(xJunting Serv 10 Drake Mill Business Patk Ptymbridge Road PtynKJuth PL6 7PS Bankers 1 BallcK)n Street Marthester M60 4EP The Charity's Object and Actlvitses The Object of the Seminary is to advan￿ the Christian religion f(M- the public beneffl Mi. but not exhaU￿]velY by. trainirKJ and preparing Minrskn fLY Refomied Churches Pflmarily in the United Kingdom thereby facilrtating publFC tEnefft ty way of sp[riti￿ and Fyadicd mintsty in the communities in whith th0￿ Churches are established. Chaiity engages in one ￿￿Vity atMI tkwefore. in the rA)ntext of the SORP FRS 102 requirement to analyse the fyures over acttvibes. projecis or se1vir￿. the Charity's financial statements refl8Ct just this siWe adivity. Public Benefft & knpact The Trustees have regard to guidan￿ wblished by the C￿lity C(MnmIssK￿. Ind￿1￿ng that in relation to Public Benefft. which requires that the Trustees make deciwns which: ensure that the CharTty's purrK)se provKles benefiL manage risks of detnment ￿ harm to the Charitys or to the public in general trom carrying charitys wrpose. detemiine who tEneffts in ways that are Consi￿ with the CFBritys pur¥K)se. make sure any personal berpffts are m mcffe thwt incidenta. The Seminary ￿)ntinUeS to PlDvide putrAic benefft by adheriw to ts obj￿￿¥8 a￿1 continuing to cary out the activittes referred to in this Rep(rt This oiyecbve WIEI not onty bring ￿ory to the triune G(MJ but immeasLwable benefft to all who are to be subsequenty inlluenced by suc a(wty. Benefits ￿11 be primarrly spiriiual, but there will also be tn(yal and prathcal tEneffts tw. For many. attending servr for bL*h Christian worship aFKI the various meetNus organised by the churches supplEd with Reformed Ministers thoroughfy equipped by the Seminary will have etemal benefft through the sa￿atrOn of souls. an irnmeasura￿ greater benefrt than anything Ihat can be given in this V￿r1d. In a(Idition. help and encouragement for daity liviThJ wTrll ￿ great spiritual ￿nefft t(xi. We expect to measure inpact by the many and fdrEd anlviated ext￿1(￿ of gralitude ar￿ support which WFII be received. sometimes telling of a person who has been saved through hearing the preaching arKI attending Ihe various meetings opwaied by the churches supplied virth a former student of the seminary as minister. However. only etemty and the day of ]LKIg￿nQnt will reveal the Irue benefil and impact of the Seminarfs wcy Achievements and Pknce The Seminary (￿1p￿ted its fifth year of operalion on 31 0￿mber 2022. The third Grdduation ceremony was hdd on Morlday 02 January 2023.

SALISBURY REFORMED SEMINARY Report of the Trustees FOT the year end 31 Decwber 2022 Operations Through(xrt 2022 Ihe (xwrse fomiat has been as in prevÉous years. i.e.. two bl¢xks of one week from Monday to Friday providing 20 hours of lectures eath week The first w￿k was held in January and the second in September. Ten shorter bla￿S dunng the year were hekl m a Friday arid Sattjrday each tnonth {iJther than January. AwJusL and Septemtw) wovidrig 10 hours of leC￿re5 each over Iho two days. This gives a total of approximalely 140 h￿rS w year. All lecbjres are held at Grove house, although on4ine l&tures were necessary during the remaining COVID restrictions. The students spend the rest of their assigrBI time in their horne thurthes being rr￿tOred ty their Pastors andlor Elders, reading. studying, and preparing assignments. Apart from an occasiona visitor. all lectures are given by the Tnjstees w[thr￿ Temur￿l￿)n. The full timetable is available to view on ts Semrfjrfs v￿)Ste. arxa oC￿s1Onal newsletteT5 and updates are provided to SUPFNNier& The se(x¥KI gtaduatiffl wvice was hdd in January and the annual Open Day took Pla￿ in May. An Open Lecture Day was hdd on 5 NOV￿ber. The Tnjstees are truly thankful to Gryj and to all SUPFQrt￿S and vdunt The operating deficit vras Q271 in 2￿22. Incl￿ of £10.619 was mainly 1x￿tionS but induded £1,500 being the Ixjurse fees paid (or payable} by the two S￿dents followirsg the c(wrse during the year. Operating expendiiure VRS £12.890. in()Jrred in respect of skndent bursaries and other student support costs, property rentd. and trustees. expenses. The ￿sh balan￿ on 31 December 2022 VRS £63.377. Significant Events No sttjdents were enrolled on Ihe cx)urse ￿ 01 knuary 2021 and two students complet&J their s￿￿lieS on 31 D￿mber 2022. Reserves around six months of annual expendiknre. Fknvever. in the earfy years of the Seminary a higher levd of reserves is appTopriate. Reserves are r￿d in an instant a(x￿ detx)gt aC￿￿nI. Principal Risks The Trustee5 dis￿ the Chwitys strategK Tisks fr(Mn time to tirne aTKI a fomBI Risk Management Polw and Strategic Risk Register be estsbSshgJ early next year to ensure thai all #Jentified rtsks are managed eff￿thVeky. Future The SeTniTWry will ￿nrnen￿ its sbxth yeaT with three sudwts and wll (thinue trj recTUtt additional students in aCctsrdan￿ with charit￿S obiedives. The premises in Grove H(Ktse will (xjnthue to be refurt)ished by Emmanuel Churth with more suitable audio and IT equipment LÈbrary facilities wtll conlinue to be ￿hanced. The Trustees antsctpate that th8 support base of the Seminary will contsnue to te extended.

SALISBURY REFORMED SEMINARY Report of the Tntstees For the year end 31 December 2022 The Trustees are reswnsible for preparirg Annual ReFJrt arKI ts Financial Statements in accx)rdan￿ wilh applit2ble law and regulations. The TTUStees are required to prepare financial State[r￿nts ￿ each fx)ancial year in accordance with United Kingdom Generalty A￿pIed Arxjxjnling Practice (United lfjngdom ACCA￿ntIng Standards and applicable law). The Finanaal Statements are required by jaw to give a true and fair view of the of the charity. arld of its incoming resources and the application of resour￿ of the tharity for that peri(Kl. In preparing these financial ststernents. the Trustees shoukl ftjllow best wacaice arnl: . select surtable a(XXAJnting poliues and then appty them cO￿lstenty. • obseNe the methods ar¥J principles in Ihe Chartlies SORP. • make judgments aThJ estimates that are reasonable arKI wJdenL prepare the finanoaal statemwts m the going ca￿￿m basis unless it is inappropriate to assume that the carity will continue its operiJn& The Trustees ￿ resp(Ktsible for keeping protEr aCc￿ntIng rwts Ihat disclose with reasonable accuracy at any tirne the financial position of ts tharity aNI enable them to ensure that the financial statements compty with the appli(abie law and the Laws and RegulatK)ns of the Society. They are also responsible for sateguarding the assets of the dRrity and hen￿ for taking reasonal￿e steps for the prevention artd detecti￿ of fraud arKt crther irregularities. ￿ Trustees are responsib5e for the maintenance and inte￿ty of the (wmxate and fir￿ncIal infCMafi￿ ind{K￿ on the chariils website. Independent Examir*r Total Accounting se￿ices have indic31￿ their to provide such servI￿S as approprrate. A resolulicm wop)sed at the Anfft￿ Genera Meeti¥¥J vras unanimously adopw to twppoint them. On behalf of the Trustees M H Watt4 Chaimwn 02 October 2023

CHARITY COMMISSION FOR ENGLIND 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 De￿mber 2022 Charity no (rf any) 1176241 Set out on pages I report to the trustees on my examination of the accounts of the above charity (Ihe Trusf) for the year ended 3111212022. As the charivs trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Char5ties Act 2011 (-the Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carytng out my examination, I have followed all the appliGable Directions given by the Charity Commission under section 145(5Xb) of the Act. Independent trhe charitys gross income did nol exceed £250.000 and l atn qualified to examiner's statement undertake the examination by being a qualified member of AAT. I have completed my examination. I confirm that no material matters have corne to my attention in connection with the examinalion (other than that disclosed below ") bvhich gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance wilh section 130 of the Charities Act" or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements con￿MIng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, vsew which is not a matter nsidered as part of an independent examination. I have no concems 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 wards in the LYa¢kets if they do not apply. Responsibilities and basis of report Signed: Date: 2711012023 Name: A P YERRELL Relevant professional qualification{s) or body (if any): FMAAT I 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 material matters of concem (see CC32, Independent examination of charity accounts: direclions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018

SALISBURY REFORMED SEMINARY sTATEmE￿r OF FNANCIAL ACTtvtnES FOR THE YEAR END 31 DECEMBER 2022 2021 Income Donations Fees De[￿t interest 9.040 1,500 79 12,123 3.750 18 Total inGome Expenditur• Charitable activ￿lES 12,890 11,311 Totsl expenditure 11.311 Net expendlbJreIinc￿ BALANCE SHEEf AT 31 DECEMBER 2022 Total Net CuTrent assets Cash at bank arNY in hand 63.377 66,429 DebtOY5- HMRC Gtft Aid 1,772 Creditors 602 422 Total Net Assets Unrestricled Funds Brought fonvard at 01 January 2022 Net (expenditureYinLxNne fortt)e year Carried forward at 31 Decents 2022 67.7T9 63.199 (2271) Approved by the Trustees ￿ 02 Odthr 2023 aTrJ sIgr￿d on ther ty. ttj M.H. Watt4 Chaim

SALISBURY REFORMED SEMINARY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR END 31 DECEMBER 2022 Accounling Policies (a) Basis of preparation These finanaal stalements been prepared under the historit31 (x)st convention with items reccNJnised at c(sst or transaction value unless olherwise stated in the relevant notes to the accounts. and in accordance vitth the char￿eS Act 2011, FRS 102 and SORP FRS 102. The Charity meets the definitson of a public bènefft ￿tity under FRS 101 (b) Going Gonqxn The Trustees have no ur￿rta1nty setninary (thinuing as a goirwJ con￿rn. (c) Income All inrx)me ￿ reccvJnised On￿ the charity has entiuemeni (d) Expendituxe Because the chaiity only has one actr¥ty (i.& FepaTing sluderts foT the Mintstry), it ts not necessary to apportion trustees. expenses beiwn o)st ￿egorIeS. All fiwres indLKle VAT. (e) Volunteer help The value of vojuntw help is not induded in ttrEse financial sLAt￿nents. (fj Takntion As a registered chaity. the Seminary ts exempt frcyn I[¥￿ tax under p￿t 10 of the Income Tax Act 2007. The seminary is not regIster￿j for VAT. In￿rne figures indude Gift Ai(1 as apwopriate. (g) Trustee expense& No expenses were paid to any of the Tntstees during the permjd olher than the ncrfmal r imbursement of exwdyture Th￿rred rm of ￿ Swninary. 2021 Charitable actsvrties Student support c Grove House costs Trustees. expenses ITICamerthecording EqU￿)rne￿t Visiting Lecturers Printing Advertising Professtonal fees 5.300 2.160 959 938 913 410 308 210 2.552 43 399 117 176 210 Total expendi￿re Creditors 2021 Independent examination fees Tnjstee expertses Student supty)rt HM Revenue and CuSt(￿S 150 150 97 125 Total Creditors 422