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 Incorwr*ed 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 year*TKI.
The Truslees receive rx) rernUnerat￿ kn thew kn*rirvJ 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 1*x￿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 s*udwts 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 ReF*Jrt 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 c*arity will continue its oper*iJn&
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 infC*Mafi￿ 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.& F*epaTing sluderts foT the Mintstry), it ts not
necessary to apportion trustees. expenses beiw*n 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