SAUSBURY REFORMED SEMINARY
TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMEKrs
FOR THE YEAR END
31 DECEMBER 2024
Charity Number (England and Wales)= 1176241

SAUSBURY REFORMED SEMINARY
TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMEMrs
FOR THE YEAR END
31 DECEMBER 2024
Contents
Page
Report of the Tn￿teeS
Independent Examinerfs Report
statement of Financffal Activities 2024
Balance Sheet 2024
Notss to the Financial Stateme

SALISBURY REFORMED SEMINARY
Report of the Tn
For the year end 31 December 2024
The Trustees present the Annual Report and the Financial Statements for year end 31 De￿rnber 2024.
Charity Name and Number
The full name of the Charity is the Salisbury Ref0￿ed Seminary (SRS). It is registered wth the Charity
Commission in Englartd and Wales with Charity Number 1176241.
Seminary Premises and address for correspondence
Salisbury Reformed Seminary
Grove House
18. Wilton Road
Salisbury
SP2 7EE
for corresponden
cjo Tabemade CardÈff
Pen-y-wain Road. Roath,
Cardiff
CF24 4GG
Structure. Governance and Management
The Salisbury Reformed Seminary is a CharTtable Incorporated Organisation (CIO), registered as a
Charity operating in accordan￿ with tts Goveming Document. The Chartty Trustees are all current or
recently retired Church Ministers of Reformed Churches. On 31 December 2024, the Charity had the
following complement of Trustees in accordan￿ with ts Goveming Document
TTUStees
The Trustees of the Charity who served for all or part of the year are as follows..
Rev Roland Burrows
Rev Christopher Buss
Pastor Richard A Clarke (Treasurer)
Rev Dewi W Higham (Registrar)
Pastor David Kay
Rev Pooyan Mehrshahi
Rev Neil Pfeiffer
Rev John Saunders
Rev John Thackway #
Rev Malcolm H Watts # (Chairman)
# Trustee of Emmanuel Church, Salisbury.
There have been no thanges of Trustees to dale since Ihe year*nd.
The Trustees re￿1ve no remuneration for their lecturing serVi￿S and re￿1ve no additional benefrts
beyond what a regular beneficiary of the chartty might receive. Necessary expenses are reimbutsed
subject to approval by the Treasurer.
The Charity holds no trtle to property but operates in premises under a litsnse agreement with
Emmanuel Church, Salisbury, who hold title to those premises. To avoid wtential conflicts 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 confii¢t may arise.

SAUSBURY REFORMED SEMINARY
Report of the Tntstees
For the year end 31 December 2024
The Tnjstees meet regularfy to oversee and aptYove all matters relating to the Seminary, to set and
monitor the annual revenue budget and review the charity's strategic risk register.
Independent Examiner
Total Accounting Servi
10 Drake Mill Business Park
Plymbridge Road
Plymouth PL6 7PS
Bankers
The C&operative Bank plc
1 Balloon Street
Manchester M60 4EP
The Charity's Object and Activities
The Objert of the Seminary is to advance the Christian religion for the public benefft in, but not
exhaustively by, training and preparing Ministers for Refom)ed Churthes primarily in the United
Kingdom thereby fa￿ltiating public benefft by way of spiritual and practical ministry in the communrties
in which those Churches are established.
The Charity engages in one activty and therefore, in the context of Ihe SORP FRS 102 requirement to
analyse the figures over activtties. projects or servI￿s, the Charity's financsal statements reflect just this
single activity.
Public Benefrt & Impact
The Trustees have regard to guidano published by the Charity Commission, including that in relation
to Public Benefrt, which requires that the Trustees make decisions which:
ensure that the Charity's purpose provides benefft.
manage risks of detriment or haryn to the Charity's beneficiaries or to the publi¢ in general from
carrying Olrt the charity's purpose.
determine who benefrts in ways that are consistent with the Charrty's purF()se.
make sure any personal benefits are no more than incidental.
The Seminary continues to provide public benefft by adhering to ts objective and continuing to carry out
the activities referred to in this Report. This objective will not only bnng glory to the triune God but
immeasurable benefft to all who are to be subsequentty influenced by such activity. Benefits will be
primarily spiritual, bLrt there wtll also be moral and practical beneftts too. For many, attending serVI￿S
for both Christian worship and the various meetings organised by the churches supplied with Refomied
Ministers thoroughly equipped by the Seminary will have etemal benefrt through the salvation of souls,
an immeasurably greater benefit than anything that can be given in this world. In addition, help and
encouragement for daily living will yield great spjrrtual benefft too.
We expect to measure impact by the many and varied anticipated 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 minister. However, only etemty and the day of judgement will reveal the true benefrt
and impact of the Seminary's work
Achievements and Perfonnance
The Seminary Gompleted its seventh year of operation on 31 De￿mber 2024.

SALISBURY REFORMED SEMINARY
Report of the Trustees
For the year end 31 December 2024
Operations
Throughout 2024 the course fomiat has been as in previous years. i.e., two blocks of one week from
Monday to Friday providing 20 hours of lectures each 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 two
days. This gives a total of approximately 140 hours per year. All lectures are held at Grove House.
The students spend the rest of their assigned time in their home thurches being mentored by their
Pastors andlor Elders. reading. studying. and preparing assignments. Apart from an occasional visitor.
all lectures are given by the Trustees wrthoLrt remuneration.
The full timetable is available to view on the Seminary's website, and occasional newsletters and
updates are provided to supporters. The Annual Open Day took pla￿ on l June. An Open Lecture Day
was held on Saturday 12 October.
The Trustees are truly thankfvl to God and to all supporters and volunteers.
Review of Finances
The operating surplus was £7.055 in 2024 (£5,435 in 2023). Income of £19,953 {£14,955 in 2023) was
mainly donations but induded £3,000 {£2.250 in 2023) being the wurse fees payable by the students
following the course during the year. Operating expenditure was £12,898 (£9,520 in 2023) incurred in
respect of trustees, expenses. studerrt bursartes and other student support costs, property rental, and
other expenditures. The cash balan￿ on 31 December 2024 was £76,581 (£72.104 in 2023).
Significant Events
Three students are due to graduate on 31 December 2025.
Reserves
The Trustees believe the current level of reserves should be in the regton of £7.500 which represents
around six months of annual expenditure. However, in the earfy years of the Seminary a higher level of
reserves continues to be appropriate. Reserves are held in an instant access deposit account.
Principal Risks
The Trustees discuss the Chanty's strategic risks from time to time, and a formal Risk Management
Policy and Strategic Risk Register be established to ensure that all identified risks are managed
effectNely.
Future Developments
The Seminary will continue to recruit studerrts in accordan￿ with the Charity's objecttves.
The premises in Grove House will continue to te refurbished by Emmanuel Church with more suitable
audio and IT equipment. Library faGiltlies will continue to be enhanced. 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 2024
Statement of Trnstees. Responsibilities
The Trustees are responsible for preparing the Annual Report and the Financial Statements in
accordan￿ with applicable law and regulations.
The Trustees are required to prepare financial statements for each financial year in accordance with
United Kingdom Generally Accepted Accounting practi￿ (Unrted Kingdom Accounting Standards and
applicable law). The Financial Statements are required by law to give a true and fair view of the of the
charity, and of its incoming reSoUr￿S and the application of resources of the charity for that period. In
preparing these financial statements. the Trustees should follow best pryactice and:
• select surtable accounting policies and then apply them con5iStently.
observe the methods and principles in the Charities SORP.
make Judgments and estimates that are reasonable and prudent.
prepare the financial statements on the going cOn￿M basis unless it is inappropriate to assume that
the charity viill continue its operations.
The Trustees are responsible for keeping proper a￿ountIng records that disclose with reasonable
accuracy at any time the financial posttion of the charity and enable them to ensure that the financial
statements comply with the applicable law and the Laws and Regulations of the Society. They are also
responsible for safeguarding the assets of the charity and hen￿ for tsknng reasonable steps for the
prevention and detection of fraud and other irregularities. The Trustees are responsible for the
Maintenan￿ and integrity of the corporate and financial infomiation induded on the charity's website.
Independent Examiner
Total Accounting SerVI￿s have indicated their willingness to provide such ServI￿S as appropriate. A
resolution proposed at the Annual General M￿tIng was unanimously adopted to re-appoint them.
On behalf of the Trustees
M H Watts, Chaim7an
29 September 2025

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 2024
Charity no
(if any)
1176241
Set out on pages
I report to the trustees on my examination of the accounts of the above
charity (llhe Trusf) for the year ended 3111212024.
Responslbilities and
basis of report
As the charivs trustees, you are responsible for the preparation of th8
accounts in accordance with the requirements of the Charities Act 2011
('the Acr).
I report in respect of my examination of the Trust's accounts carried out
under seclion 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 145(5Xb) of the ACL
Independent rrhe chariws gross income did not exceed £250,000 and l am qualtfied to
examinerfs statement undertake the examination by being a qualified member of AAT.
I have completed my examination. I confimi that no material matters have
come to my attention in connection wtth the examination (other than that
disdosed below ") which gives me cause to believe that in, any material
respect:
the accounting records Y￿re not kept in accordance with section 130
of the Charities Act" or
the accounts did not accord with the accounting records. or
the accounts did not wmply with the applicable requirements
con￿MIng the fom and content of accounts set out in the Charities
(Accounts and Reports) Regulations 2008 other than any requirement
Ihat the accounts give a 'true and fairf wew whith 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 Ihe 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.
Signed:
Date:
811012025
Name:
A P YERRELL
Relevant professional
qualification{s) or body
(rf any):
FMAAT
IER
Oct 2018

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

SAUSBURY REFORMED SEMINARY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR END 31 DECEMBER 2024
Total
2023
Income
Donations
Fees
Miscellaneous- sale of library book
Bequest
Deposit interest
11.289
3,000
3,000
1,611
1,052
9,503
2.250
2,500
702
Totsl income
Expenditure
Charita￿e a¢tivities
12,898
9,520
Total expendtture
Net expenditurelin¢ome
BALANCE SHEEf AT 31 DECEMBER 2024
Total
2023
Net Current assets
Cash at bank and in hand
76.581
72,104
Debtors- HMRC Gtft AÈd
1,597
811
Creditors
180
1,972
Totsl Net Assets
Unrestrrcted Funds
Brought fomard at 01 January 2024
Net incomel{expendFture) for the year
Carried forward at 31 December 2024
70.943
65,508
7,055
5,435
Approved by the Trustees on 29 September 2025 and signed on their behalf by:
M.H. Watts, Chairman
R. A. Clarke, Treasurer

SAUSBURY REFORMED SEMINARY
NOTES TO THE HNANCIAL STATEMEKrs
FOR THE YEAR END 31 DECEMBER 2024
Accounting Policies
(a) Basis of PrePa￿lon
These financial statements have tr£en prepared UfKler the historiol cost corwention with items
recognÈsed at o)st or transadion value unless othefwise stated in the relevant notes to the
accounts. and in accordan￿ wrth the Chanties Act 2011, FRS 102 and SORP FRS 102. The
Charity meets the definition of a wblic benefft entrty under FRS 102.
(bl Going concem
The Trustees have uncertainty atNJut the seminary conttnuing as a going conom.
(c) Income
Al income is recognised once the charity has entiuement.
(d) Expenditure
Because the chartty only has one actÈvity (i.e. Preparin9 Students for the Ministy). rt is not
necessary to apportion trustees, expenses between cost Wories. All figures indude VAT.
(e} Volunteer help
The value of volunteer help is not induded in these financial statemerrts.
(fj Taxation
As a registered dwity, the Seminary is exempt from income tax un(Jer part 10 of the Income Tax
Act 2007. The seminary ts rK)t registered for VAT. Income figures indude Gfft Aid as appropriate.
(g) Trustee expenses.
No expertses were paid to any of the Try￿￿S during the pencKI (ther than the nomial re-
imbursement of expendibjre in{￿rred on behalf of the Seminary.
Charitable acthiities
2023
Student support costs
Grove House costs
Trustees, expenses
ITIcamer￿ecordlng Ewit4nent
Visiting Lecturers
Adverbsing
Library acquisitions
Professional fees
1,022
2,378
4.415
933
2,185
1.015
2,085
2,302
3,61H
473
225
593
238
Total expenditure
Creditors
2023
Independent examirtation fees
Tuiknon fees receÈved in advan
Trustee expenses
162
1.500
310
Total Creditors
180