SAUSBURY REFORMED SEMINARY
TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE YEAR END
31 DECEMBER 2023
Charity Number (England and Wales): 1176241

SAUSBURY REFORMED SEMINARY
TRUSTEES, ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE YEAR END
31 DECEMBER 2023
Contents
Page
Report of the Trustees
Independent Examinefs Report
Statement of Financial Activilies 2023
Balance Sheet 2023
Notes to the Financial Statements

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2023
The Trustees present the Annual Report and the Financial Statements for year end 31 De￿rnber 2023.
Charity Name and Number
The full namè of the Charity is the Salisbury Reforni&J Seminary (SRS). It is registered with the Charity
Commission in England and Wales with Charity Number 1176241.
Seminary Premises and address for correspondence
Salisbury Reformed Seminary
Grove House
18. WI￿On Road
Salisbury
SP2 7EE
for CO￿espOndence
cjo Tabemade CardrfF
Pen-y-wain Road, Roath,
Cardtff
CF24 4GG
Structure, Governance and Management
The Salisbury Reformed Seminary ts a Charitable Incorporated Organisation (CIO), registered as a
Charity operating in accordance with its Goveming Document. The Charity Trustees are all current or
re￿ntlY retired Church Minister5 of Refomied Churches. On 31 De￿mber 2023, the Charity had the
following complement of Trustees in accordance with its Goveming Document.
Trustees
The Trustees of the Charity vtho served for all or part of the year are as follows:
Rev Roland Burrov
Rev Christopher Buss
Pastor Richard A Clarke (Treasurer)
Rev Dew W Higham (Registrar)
Pastor David Kay
Rev Pooyan Mehrshahi
Rev Neil Pfeiffer
Rev John Saunders
Rev John Thackway #
Rev Malcolm H Watts # (Chainnan)
# Trustee of Emmanuel Church, Salisbury.
There have been no charw of Trustees to date since the year-end.
The Trustees retsive no remuneration for Iheir lecturing Servi￿ and re￿1ve no additional benefits
beyond what a regular beneficiary of the charity might re￿r¥e. N￿SSary expenses are reimbursed
subject to approval by the Treasurer.
The Charity holds no title to woperty bLrt operates in premises under a license agreement with
Emmanuel Church, Salisbury: who hold title to those premises. To avoid potential Gonfiicts of interest
arising at any time, no Trustee who is also a Trustee of Emmanuel Church Salisbury can vote on any
matters where a potential ¢onfiict may arise.

SALISBURY REFORMED SEMINARY
Report of the Tntstees
For the year end 31 December 2023
The Trustees meet regularly to oversee and approve all matters relating lo the Seminary. to set and
monitor the annual revenue budget and review the chartty's strategic risk register
Independent Examiner
Total Accounting Servi
10 Drake Mill Business Park
Ptymbridge Road
Plymouth PL6 7PS
Bankers
The Co-operative Bank pl
1 Balloon Street
Manchester M60 4EP
The Chaiity's Object and Activities
The Object of the Seminary is to advance the Christian religion for Ihe public benefit in. but not
exhaustively by, training and preparing Ministers for Refomied Churches primarily in the United
ngdom thereby facilTtating public benefft by way of spiritual and pracaical ministry in the communities
in which those Churches are established.
The Charity engages in one activity and therefore, in the context of the SORP FRS 102 requirement to
analyse the figures over activtties. projects or services, the Chartty's financial statements reflectjust this
single activrty.
Public Benefft & Impact
The Trustees have regard to guidance published by the Chartty Commtssion. induding that in relation
to Public Benefft, which requires that the Trustees make de(asions which:
ensure that the Chaiity's purpose provides benefiL
manage risks of detriment or hann to the Charivs beneficiaries or to the public in general from
carrying out the charty's purpose.
determine who benefits in ways that are consistent with the Charity's purpose.
make sure any personal beneffts are no more than incidental.
The Seminary continues to provide public benefft by adhering to ts objectrve and continuing to cary out
the activities referred to in this Report. This objective will not only bring glory to the triune God bLrt
immeasurable benefft to all who are to be subsequerrtly irffluenced by such activity. Benefits will be
primarily spiritual, but there will also be moral and practical beneffts too. For many, attending services
for both Christian worship and the various meetings organised by the churthes supplied with Refomied
Ministers thoroughly equipped by the Seminary will have etemal benefft through 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 lo measure impact by the many arKI varted anticipated expressions of gratitude and support
which will be re￿ived. sometimes telling of a person vtho has been saved through hearing the
preaching and attending the various meetings owated by the thurches supplied with a fomier stLKJent
of the seminary as minister. However, only etemty and the day of judgement will reveal the true benefit
and impact of the Seminary's wor
Achievements and Perfomiance
The Seminary completed Its sixth year of OFEration on 31 D￿mber 2023. Hubyever, no students
graduated on 31 D￿rnber 2023 hen￿ no Graduation ￿rernonY was held in January 2024.

SALISBURY REFORMED SEIIJINARY
Report of the Trustees
For the year end 31 December 2023
Operations
Throughout 2023 the course fomat has been as in previous years, i.e.. two blocks of one week from
Monday to Friday providing 20 hour5 of lectures each week. The first week vtss held in January and the
second in September. Ten shorter blocks during the year were held on a Friday and Saturday eaGh
month (other than January, August, and September) t￿0VIding 10 hours of lectures each over the two
days. This gives a total of approximately 140 hours per year. All lectures are held at Grove House. and
there were no on-line lectures ne￿SSary as all COVID restrictions had been w5thdrawn.
The students spend the rest of their assigned time in their home churches being mentored by their
Pastors andlor Eldet5, reading. studying, and preparing assignments. from an oC￿lonal visttor,
all lectures are given by the Trustees without remuneration.
The full timetable is available lo view on the Seminarfs website, and occasional newsletters and
updates are provided to supporters. The Annual Open Day took on 27 May. An Open Lecture
Day was held on Saturday 14 October.
The Trustees are truly trtanlrful to God and to all supporters and volunteers.
Review of Finances
The operating surplus was £5,435 in 2023. In￿me of £14,955 was mainly donations but included
£2,250 being the course fees payable by the three studerts following the course during the year.
Operating expendiiure was £9,520 incurred in resFect of trustees. expenses, student bursaries and
other student support costs, Ixoperty rental. and other expenditures. The cash balan￿ on 31
Decemter 2023 was £72,104.
Significant Events
A further studenl was enrolled on the course on 01 January 2024.
ReseNes
The Trustees believe ts current level of reserves should be in the region of £6,000 which represents
around six morrths of annual expenditu￿. However. in the early years of the Seminary a higher Eevel of
reserves ¢orrtinues to be approprrate. Reserves are held in an instant ac￿SS deposit account.
Principal Risks
The Trustees discuss the Charity's strategic risks from time to time and a fonnal Risk Management
Policy and Strategic Risk Register will be established to ensure that all identified rEks arE managed
effecttvely.
Future
The Seminary V￿11 Cornmen￿ ts seventh year wilh four students and will continue to recruit additional
students in accordan￿ with the Charity's obJ'ectr¥es.
The premises in Grove House will continue to be refijrbished by Emmanuel Church with more suitable
audio and IT equipment. ￿brary facilities wll continue to be enhanc&J. The Trustees anticipate that the
support base of the Seminary will also continue to be extended.

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2023
Ststement of Trustees. Responsibilities
The Trustees are responsible for preparing Annual Report and the Finanaal Statemerrts in
accordance with applicable law and regulations.
The Trustees are required to prepare financial statemeriis for each financial year in accordance wtlh
United Kingdom Generally A￿pIed Accounting Practice (United Kingdom Accounting Standards and
applicable law). The Financial Statements are required by law to gNe a true and fair view of the of the
charity, and of its incoming resources and the ap￿ication of resources of the chanty for that peritsj. In
preparing these financial statements, the Trustees should follow best Practi￿ and:
select suf(able accourrting policies and then apply them consistently.
ObSe￿e the methods and principles in the Charities SORP.
make judgments and estimates that are reasonable and prudent
prepare the finanoal statements on the going con￿rn basis unless it is inappropriate to assume that
the charity viill continue its i)perations.
The Trustees are responsible for keeping proFEr accounting records that disdose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the finanGial
statements comply wrth the app1t￿ble law and the Lav￿ and Regulations of the Society. They are also
responsible for safeguarding the assets of the charty and hen￿ for taknng reasonable steps for the
prevention and detection of fraud and other iwularities. The Trustees are responsible for the
maintenance and integrity of the Corporate and financial information induded on the charity's W￿b5[te.
Independent Examiner
Total Accounting Services have indicated their wllingness to provide such seNices as appropriate. A
resolution proposed at the Annual General Meeting was unanimously adopted to re-appoint them.
On behalf of the T￿￿tee9
M H Watts. Chaillnan
28 October 2024

CHARITY COMMISSION
FOR ENGLPND 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 2023
Charity no
(if any)
1176241
Set out on pages
I report to the twstees on my examination of the accounts of the above
charity (-the Trusf) for the year ended 3111212023.
As the chartvs trustees. you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Acl 2011
(Ihe Acr).
Responsibilities and
basis of report
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carying out my examinalion, I
have followed all the applicable Directions given by the Charity Commission
under section 145(5Xb) of the Act.
Independent ￿he chartty's gross income did not exceed £250.000 and l am qualified to
examinerfs statement undertake the examination by being a qualified member of AAT.
I have completed my examination. I confim that no material matters have
come to my attention in cA)nnection with the examination (other than that
disdosed below") which gives me ￿use to believe that in. any material
respect:
the accounting records were not kept in accordan￿ with section 130
of the Charitses Act" or
the accounts did not accord with the accounting records. or
the accounts did not comply with the applicable requirements
C£)n￿ming the forni and content of accounts sel out in the Charities
(Accounls and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter
considered as part of an independent examination.
I have no COn￿mS and have Gome across no olher matters in connection
with the examination to which attention should be drawn in this reporl in
order to enable a proper understanding of the accounts to be reached.
' Please delete the words in the brackets rfthey do not apply.
Signed:
Date:
0510912024
Name:
A P YERRELL
Relevant professional
qualifi¢ation(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 con￿rn
(see CC32. Inde[￿ndent exatnination of charity accounts: directions and
guidan￿ for examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
tb
Oct 2018

SALISBURY REFORMED SEMINARY
STATEMEpif OF FINANCIAL ACTMTIES
FOR THE YEAR END 31 DECEMBER 2023
Total
2022
Note
Income
Donations
Fees
MIs￿lIaneoUS- sale of library book
Deposit interest
9.503
2.250
9,040
1,500
702
79
Total income
Expenditure
Charitable activitses
9,520
12,890
Total expenditure
Net expenditurefincome
BALANCE SHEEf AT 31 DECEMBER 2023
Total
2022
Net Current assets
Cash at bank and in haThJ
72,104
63,377
Debtors- HMRC Gtft Aid
811
2,733
Creditors
1,972
602
Total Net Assets
Unrestricted Funds
Brought forward at 01 January 2023
Net incomel(exFerKliture) for the year
Carried forward at 31 December 2023
65,508
67.T79
5,435
(2,271)
Approved by the Trustees on 28 October 2024 aThJ signed on their behalf by:
e-g_ <4 ￿4&@j
/L/L CLL
M.H. Watt4 Chaim?an
R. A. Clarte, Treasurer

SAUSBURY REFORIAED SEMINARY
NOTES TO THE HNANCIAL STATEIAEKrs
FOR THE YEAR END 31 DECEMBER 2023
Accounting Polici¢5
(a) Basls of preparation
These finanoal statements have been wepared under the historiol cost convention with items
recognised al ￿ or trartsadion value unless otherwise stated in relevant notes to the
accounts, and in accordan￿ with the CIMities Ad 2011. FRS 102 and SORP FRS 102. The
Chanty meets the definition of a public berth a7tity under FRS 101
(b) Going concern
The Trustees have rKI urM*inty ab(xrt the semirRry continuirffJ as a goir¥J con￿rn.
(¢) Income
(d) Expenditure
Because the charity onty has Or￿ adivity (i.& Preparing students for the Ministy), it is not
necessary to apportion trustees. cost r*ortes. AJI figures indude VAT.
{e) Volunteer help
The value of volunteer TrElp is inckKled in the* firBncial statements.
(fj Taxation
As a registered charfty, the Seminary is exempt from income tax under part 10 of the IrFtrJme Tax
Acl 2007. The seminary is not registered fDr VAT. Income figures inGludè Gift Aid as appropriate.
(g) Trustee expenses.
No exper6es were pamj to any of ts Tntstees thring the Feritsj other than the rtormal re-
imbursement of expenditijre incuThed on behalf of trte SemitHry.
2022
Student support costs
Grove House costs
Trustees, eynses
ITICameralRecording Equtwnent
Visiting Lecturers
Printing
Advertising
Professional fees
2.085
2,302
3,604
473
6,960
2,552
2,433
43
117
176
210
Total expendlture
890
Creditors
2022
Tuition fees received in advan
Trust￿ expenses
Student support
162
1,500
310
150
104
Total Creditors
602