Lanier Theologlcal Educatlon Foundation Rèport and Financial Statements Year Ended 31 December 2024 Company Numt¢r 13S41047 Chaflty Numbor 1195607
Lanier Theological Education Foundation Charfty Infomiatlon Trustees B Lanier P Lindon K Rrtierts {Chairl A R R Wingfield DFgby R•glstsrod numbgr 13541047 Charfty number 1195607 PTlnclpal offl¢¢ Yamton Manor Church Lane Yamton Oxfc OX51PY Gravlla Audit OXId LLP Flrst Fl(x)r. Park Central 4041 Park End Street Oxford OX1 IJD Audltor
Lanier Theological Education Foundatlon Contents Page Trustees. Report Indudlng the Strateglc Report Independent Auditors Report Statement of Flnanclal Activitses 10 Balance Shgot 11 Statsmant of Cash Flows 12 Notes to the Financial Ststeménts 13-22
Lanier Theological Education FoundatTon Trustees. Report including thè Strateglc Report Forthe Year Ended 31 Decernber 2024 The Trustees. beiThJ also Dire¢aors of the charitable (xjmpany. present theirTrustees' reFX)rt including the Stratsgic ReFK)rt together with the financial statements for Lanier Theological Educalion Foundation ft)r the year 31 Dernber 2024. The report 1mplIeS with the ChariliesAct 2011. and the Directors, report as required by section 415 of the Companies Act 2006. The finanual statem8nts comply with the requirements of the Comp8nies Act 2006, the charrtable CoMpanS Artides of Assocaation aThJ the chariti.es Ststement of Recommended Practs'ce ISORP FRS 102 effte 1 January 2019). The prir1paI and registered office address 15 Yamton Man. Church Lane. Yamton. Oxford5hire, OX5 1PY. Tru8tses' responsibilitlos In rnlatlon to the financlal statements Th8 trustees are reswnsible for preparing the Tnjstees, Rert induding the Strategic Rewrt and the financial statenEnts in accordance wlth appIlble law and regulatins. Company law requires the trustees to prepare finana21 statements for each finanaal year. Under that law th8 ustees have elected to prepare the finaTKxal statements in aCrdance wilh apFAicable law and Unity Klngdom Accounting Standards (United Kingdom Generally Aecepted Accounting Practice). induding Finanaal Ret)orting Standard 102 'The Financial Retth'ng StarKlard appli¢able in the UK and Republic of Ireland,. Under company law the trustees must not approve the finanryal statements unless they are satisfied that they give a true and fair view of the stste of affairs of the Charity and of the profit or loss of the Charity for that period. In prewing these finandJ stateNwts. the trustees are rg]uired to: select sutlable 8nting p)licies and then apply them u)nsistenty, m8ke judgements aThJ a(u)unknng estifftes that ar8 reasCab1e and pnKlonL follow appliCae acrthinting standards. sutyect to any material deparhjrts dis¢k)sed arKI explained in the accounts., and prepare thg finarKaal ststernents on the golNJ LrM basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper acctyJntirKJ rerds. which disdose reasonable accuracy at any time the financial position of the Charrty and enable ttiem to ensure that the accounts comply with the statement of Recommended PraCti"AC0)unting by Charities". They are also responsible for safeguarding the assets of the Charty and hence for taknng reasonable steps for the prevention and detection of fraud and other irregularrties. Charitable purpose and Maln Actlvltles The Charivs object ts. for the bonefit of the pubtic. to advan the Christian faith partiajlady but not exdusively through the &stablishment arKI maintenance of a thec4cJical library and learning Ixntre at Yamton Manor. The Charity has been eslablished to operate the rEw thed(yJtcAI library and laaming centre with a fCS on bibli¢xl research, thedogical edu(xtion. and training indmduals for Christian ministy in the UK and a(xoss Europe. Since 1COratiOn, the Chariws main activty has been to renovate the historic Yamton Manor and surrounding properties to aid in the purposes of the Charity. Major renovations to the Manor House were Completed in July 2023 along with the cOmpeti9n of supF¥JrtitvJ acc¥)mmryJation and housing. The final project is the devdopment of the Library. substantialty completed in June 2025. Since August 2023 the Chartty has hosted IndidUal$ and small groups at Yamton Manor. including groups for training and strategic planning, visiting stholars from a(xo&8 the UK and around the world, and residents who are students of Oxford Universty.
Lanier Theological Education Foundation Tru6tees' Report Includlng the Strateglc Report {eontlnuedl For the Year Ended 31 December 2024 Financial rev1 and reseNe pollcy The net Inco for the year anN)unted to £3,830.043 (2023.. £1.865,840). The majortyofthe Chantys 2024 income was used forthe costof renovations toyamton Manorand development of the library, as expected. On¢e reVatiOnS have been completed, it Is oxpected that a reserve will be held by the Charity as determined by the Trustees. A reserve wlicy was adopted by the CharitS Trustees on 21 March 2023. It was agreed that the Charity should maintain a reserve of three monlhs, lo be reviewed annually by the Trustees. The reseryes at the year end were £24.617.346 {2023: £20.787,303) including restricted funds of £18.435,074 (2023.. £18.625,6} and unrestricted fuThJs of £6.182,272 {2023: £2.161.677). Aims and achievements The Charity aims to a¢fvance the Christian faith through the development of a treologi¢al library and learning centre at Yamton Manor. The library and leaming centre will house a publidy a¢¢essble. and free of Gharge, library of thgJogical and biblical texts, and may aiso house collections of artefacts that promote experient leaming in th& Christian faith. for example an(ient nwnuscTipts and FlMI1eS and olher artefacts of religious signif. It is envisaged that the library will house a comprehensNe llectiOn of books. periodicals. hlstorf(l documents and with toplG% ranging from church history and biblical strJdi8s to archaeolcgy and linguistics (these being relevant to understsnding the birth and grrAvth of Christk4nrty). There will be extensive facilities for self- Study at the library. Wth a forus on biblical researd), schclars will gather to research. c(4labordts. ylte. and lecknre on a variety of theological lopi(¥. The Charity will faolitate rigorous thwAogical lu¢tiOn, supporting scholars and students in pursuit of advanced degrees an(J Strateg teachiThJ 85signnEnts. Those akeady serving in Christian ministry wll benefrt from seminars, treats, collaborakn"on. and mentoring. Success will be measured objectively through participaticfft in events and actiwties. LK)th as resKlents and guests of Yamton Manor. In addition, and somewhat subjectively. participants wll be asked to Indile whether the faciltlies, progrdms, and events are helpful and impactfvl in the area of research, schdarship. and ministy. Wtlh full participation and a nS[Stant positive response from parb"cipants and strategic oversight by the Truste8& the Trustees will be able to ensure that the Charity is achievlng tts stated aims and obiecbves. Golng concem At the time of approving the actounts. the Trustees have a reasonable exwtstion that the Charity has adequate resources to continue ID operational existen for Ihe foreseeable fvbjre. Lanier Theologic21 Library Foundation I'US Foundation-) has approved an addiltonal grdnt in 2025 to the Charrty in the amount of $4.500.CK)O, which will cover operattons and the cost to complete the renovation ofyamton Manor. The US Foundab"on is adequately resourced and able to maintain its commitment lo the Charity to fully fund operations on an ongoing basis. Bank and investment ststerrents have tsen FKovKled to Gravtta Audit Oxford LLP verifying that capacty. The Trust8es believe that r( is appropri*e tr) prepare the aox)unts on a g)ing conrn basis. Strategic Rèport The renovauon of Yarnton Manor and surrounding prDperbes is now substantialty complete. The final major building project was development of the library buildirKJ substantialty completed in June 2025. The Catalculn9 of books will be 8n ongoing Wc. The Charity is now in FX)sition to establi8h the Lanier TheolTrJical Library and Leaming Centre at Yamton Mancf. The ongoing obiethes are lo promote and facilitste biblical research, theOlalca[ education, and training in Christian ministy. This vlll be a(yJ)mplisIl for on (xmpus residents and guests through a variety of courses, seminars. retreats. conferences and mentoritYJ. These activities. to the bersefrt of the publ. will advance the Christian faith a¢yoss the UK and Europe.
Lanier Theological Education Foundation Tntstè•s' Report Includlng the Strateglc Report (contlnuod) For the Year Ended 31 December 2024 Fulurn Dev81opments LTEF at Yarnton Marw Is now abie to mcre activety and dligenty in 8&[41shIng Its obleGtfv6S. Throughout 2024, thirteen wsiting and resident scholars along with Iheir familles INed and worked at Yarnton Manor. In additi)n. LTEF hosted ten dffterent groups on campus for mults'-day conferentrÈs and training evants. The Resldenl Academic Director and Juni(Y Research Fdbws joined in 2024. Similar rasidential ocujpation wlll contlnue through 2025. Prfnclp81 rlsks and unc8rt8intles The flnal cost of renovaUon is becnmlng dearer but there 8re 81111 variabies. The convernlon of the Trthe Bam into a Theological Library is substsntiaity complete. A colony of bats vrds idents'fied in the roof structure requiring carèful attentlon throughout the pro(x88. recomm8nded electr1 $ub4tatlon fc Yamton Manor is In progr8$$. KeYperfOn71an indlcators Progress on the renovation of Yamton Manor was skxi, as exp8Cted, hcwwever it Is now substantially Mple. Meanwhile, IFre is grèat Interest In the local MMUnty and twThJ in the works belng don8 and th8 programme to follow. Key rel8tion$hlps have Lwn and are corrtinuing to b8 develoFed with stra18gic partners, including Wycliffe Hall, Oxford, the Oxford Centre for Christian Apol(v3eti(s. Tdale House, Cambridge, and the European Leadership Forum. The Charity is wollwltlcN)ed to acc4)mplish its obi8¢tlves as the faalities b8come fully OP8ration81. Publ1¢ b•Mfft The Charity advances the Christian falth generalty. palartY but not exdusNely thrryjgh theological lfvItieS Indudlng the provision of a theolc¥Jical litffary arKI providing education and training in the subj'ect5 of Christian theology. biblical 5tudie5. churth leadwship and ministy which wll be available to any interestsd members of the public and academics, helplrwJ to advance the Christian failh aryoss the UK and Europe. structurn arml Gov•manc• The Charity is a charitsbl8 company Ilmiled by guarantee under It8 Art1¢& ofAsS0da0ft. The Trustee3 are responsIe for the strateglc dItectn of the Charity, Its funding and development and the OVerght of its rf(*Man,. with the trustees Tneeting at least ts¥ice oath year in regular email communication. The Charty has a Scheme of Oeb8gatN)n in plac8 aFvoved by the Truste8s in October 2022. A Cooperation Agreem&nt is also In place betwwn the US Foundation and Ihe Charity. Tha Charity has established a trading subFAdiwy LTEF Tling Limlbj. which in time wll be used to cary out any Tr)Trcharitable tiading adivities.
Lanier Theological Education Foundation Tn. Report Includlng the Strateglc Report (conllnued) For the Year Ended 31 De¢ember 2024 Trustees The directors of the Charity are also rts Trustees the PLfFX)se of charity law and throughout this rPt are ¢rJlectively referred to as the Trustees. The Trustees semng durirvJ the year and up to the date of signing the finanual staterrEnts are as follows: B Lanier P Lindon K Roberts {Chalr) EThee A R R Wiryfield Digby There shall be at least three Trustees from thg date the Charity was regtered. Tr 8pwintment of a trustee is by decision at the tnjslees. meeting. There are three TTUStees from the US Foundation and ts¥o from the UK. Trustee recruhment and appointment The Lanier Thedogical Educatton Foun(Jation OmF0yS a systematic approach to trustee recruitment lo ensure the board maintains Ihe appropriate MLX of skn"Ils. experien. and dNerty requir&J to effectively govern the organisation and advance its dlaritable oty'ectives. New trustees are identified through muttiple channels, induding recommendations from existing trustees. staff. and stskeholders, and through eagement with strategic partner5 and professiond nefvfkS. ProsFWtNe trustees complete a comprehensive 8pplication and interview process including detailed curriculum vitae, interest and motivation for seNice. and petEonal and professiond refaren(xs. Trustee tralning and development AJI nawly appointed trustees complete a WrrehansIve iThJUCt programme wtthin three months of 8PFX)intment, coverrng governan fundamenlaL%. organisational context, and practical govem2ncè. Thè board maintains a rling prLyJramme of training and development acbwties intemalty arvj Trustees are encouraged and supwrted to attend rdevant extemal training where appropriate. Underthe guklan(x of charty attomeys al B8tes Wells, govemance best practi and emerging trends are reviewed and poliues and procedures are updated as appropriate. The effectiveness of the trainiro programme ts reeWed annually as p8rt of the trard'S solr- assessment preSs, yth adjustments made bas&Y on identified needs and tharoing regulatory requirements. Key management pgwnn81 The key management Fer%Jnnd are Dawd Fleming and Bevety Fleming. Dlsclosure of information to audftor Each of the persons who are trustees at the time when this Trustees, Re indLKling the Strategic Report is approved has confim11 that.. so far as th8 trustees are awa, there is no releant audtt infcwmation of which the Charivs Èudltor Is unaware. and Ihe trustees have taken all the steps that ought to have been taken as a tnjstee in order to be aware of any relevant audit inf0m1atn and to establish that the Charivs auditor tg awa of that infonnation.
Lanier Theological Education Foundation TTUStees' Report including the Strategic Report (contlnued) For the Year Ended 31 D•¢ibr 2024 Post balanc• sho•t evonts There have Lwi no sgnificant events affe(XlryJ the Charity slnce the year erKJ. Audltor The auditcff, Critchl8yE Audit LLP. merged wrth Gravila during 2024 and ncw operates under the n8me of Gravita , Audit Oxlord LLP. Gravita Audit Oxford LLP will be proF(¢&J for reappithnt in act£Kdar8 wlth sectlon 485 of the Companies Acl 2(MJ6. This r8POrt VRS approv1 by the board on 28AJU$L 25 arwj $lgn8d on its behalf. P Utmlon Truste8
3nier Theological Education Foundatlon Ind•p8ndent Audltofs Report to the TTUStees of Lanier Thoologlcal Educatlon Foundatlon Opinion We have audiled the financial statements of Lanier Theolc3i(zl EdUcatn Found8tion ('the charitable company,) for the year end8d 31 Dernber 2024 which (x)mprise the Statement of Financial Activities. Balan Sheet, statement of Cash Flows and the notes to the financial statements. induding significant accounting policies. The financial reporting framew that has been applied in their preparation is applicable law and United Kingdom Aco)unting Slandards. induding FRS 102 The Financial Reporting Standard appltsble iri the UK and Republic of Ireland {United Kingdr)m Gener8ltyAccepted Aco)untiThJ Practice). In our opinion, the financi statemerts: give a true and fair view ofthe state of the charttable companWs affairs as at 31 December 2024 and of its incoming resources and applThtson of rescwrces forthe year then ended; have been properfy prepar1 in accordance with Uniied Kingdom GeneraltyAccepted Acix)unting Practice. and have been eparj in a¢oL)rdan( with the rg]uirements ofthe Companies Act 2006. Basls for oplnion We conducted our audrt in acC[xdan with IntemÈtiDnal Standards on Audng (UK) {ISAs {UKII and applicable law. Our ressxnsibilities under those standards are further descritd in the Audttorfs responsibilitl8s for th@ audit of the financial statements section of cr reF*)rt. We are indeFoThYent of the charitsble company in accordance with the ethic requirements that are relevant to our audit of the finan(>al statements in the UK, induding tho FRC'S Ethical S18ndard. and we have fuffill our other ethi(zl restx)nsibilities in accordance with thase requirements. We believe that the audtt evidence we have obtained i8 sufficlent and appropriate to provide a basis for our opinion. Concluslons relat5ng to going CODCern In auditing the financial statements. VR have cncluded that the trustees. Le of the golng conrn basis of accounting in the preparation of the financial statements is apFffopriate. Based on the work we have perfrn, have rK)t identified any maten.al uncertainties reiating to events or o)nditions that. individualty or collectNely, may cast srgnificant doubt on the Chanty's ability to continue as a going concem for a period of at Eea5t 12 rnonths from when the financial statements are authorised for issue. Our reswnsibilities and the rwp)nsibilities of the truslees wilh respgrt to wing are descmbed in the relevant sections of this reFX)rL Other InfOrntIOn The other information comprises the infomation induded in the annual report. iluding the trustees, reporL other than the finanaal statements and our 8udilor's rep(xt thereon. The tnjstees 8re responsible for the other InfOnatiOn ¢ontsined within the annual reporL Chjr opinion on the financial Statents does not cover the other information and, except to the extent otheThrise explicatly stated in our reporL we do nol express any frim of assurance conclusion thereon. Our iesFX)nsibility is to read the other inf0mtiOn and, in dcmng so. consider wheth6r the other infomialion is Materially in(x)nsistent wth the financial statements or our knowledge obtsined in the course of the audit, or otheNise appears to be materially misstated. Sf we identify such rnaterial incoThsistencies or apparent material
Lanier Theological Education Foundation Independent Audltorfs Report to thè Thtytoos of Lanier Theological Educatlon Foundatlon IcontTnued) misststements. we are required to detem)ine whether this grves rise to a material misstatenI in the financial statements themselves. If, based on the work have perforned, cond8 that there is a malerl misstatem8nt of this other infonnation. we are requir1 to report thal fa( We have nothing to r8p(t in thi8 regard. ' Oplnlons on other mattorn proscrfb•d by the Companles Act 2006 In our opinlon. bas1 on the wcrt uThYertaken In the cot¥se of lh8 8udlL' the 1n1ction givon in the trustees, reFrt)rL which indudes the dir8Ctor5' r8 and the strategic report prepared for tho purposes ol company law. financial year for whlch the flnancial statements are prepared Is conslstent V•rylh the financial stateThnts. arKI the dlrectors. repmyt arKI the strateglc rewt indud8d thIn tho truste8s' reFYt have beon prepared in accordance with apF4icable legal requirements. , Mattars on whlch w• oro requlrnd to rnport by oxcepOn In the Ilght of the knowledge and understsnding of Ihe company and rts environment obt8lned in the course of the audit. we have not idenlifjed material misstaleThnts in the dir8dors' rept Indudod wthin the trustees, r8POrt. We have nothing to report in respect of the Idltr*ing rnatteTr In relatth io whlch the Companies Act 2006 require(sl us to reFth lo you ff. in our opinlon: 8dequ8t8 and proper acxfjunting records havo not be8n kepL or relums adèquate f(Y ¢)ur audft have not been received from branches not visited by us: or the financial statements are ncrt In agreerrtnt the accountiThJ recths and retums; or ertain disclosures of tTUStees' remuneration specffied by law are rK>t rne. or we havo not recelved all the 1nlomats.on and explanalons we rwuire for wr audlt R•sponglbllltl88 of dlro¢tor• As gxplaSned rrw)re fvlly In the truslees. responsibTlities stateThnl [set out on pe 1. the trJ$le&s Ivtho are also the directors of the charilable company for thg purposes of company law) are r8sponsit48 for tho preparation of the financial statarnents and for being satisfied that th8y glv8 a tnje and fair view, and for such intemal control as the trustees detemiin8 is necessary lo enable the preparali)n of finandal statements that are free from matertal I misslatsm8nt, whether due to fraud or error. In pparing the financial stalements, th8 trustees are regponslbK8 for 8S8essing the companys abS1ty to contlnue as a going con¢em. dlsdosing. as applicable. matters relaled to gr0 corwn and using the goSrTrg concem basls of accounting unless the trustees either Intend to Ilquidate the Lx)mpany to (we operatior¢8, or have no realistic aitsmative but to do so.
Lanier Theological Education Foundation IndependentAuditorfs Report to the Trustees of Lanier Theological Education Foundation Icontinued) Auditorfs responsibilities for audit of tho financial statgments Our objeclNes are to t)btain reasonable assuran ab)ut whether Ihe finanaal statements as a whole are free from material mialeMent. whether due lo fraud er. and to issue an auditor's report that includes our opinlon. Reasonable 88suranc 8 high level of assurance bul is not a guarantee that an audit condu¢ted in a¢cor(Jance wth ISAS (UK) bMII afrways detect a material misstsleThnt when it exists. Mlsstatementg can arise from fraud or error and are COndered material rf. indivhlually or in the aggregate. th8y could reasonably be expected to influence the economic decigons of users tsken on the basis of these financlal statements. Irregularities, indudlng fraud, are Sta of non-COmlance wlth laws and regutations. We deslgn procedures in line th our responsibilities, ouuined at4)VO, to dett materia misstatements in r88P8Ct of irr8gularilies, Including fraud. The extent to which prcredw8s are Gapab18 of det8cting kregularits'es, induding fraud Is detalled bdow". Our approach to 1dent1.ng and assesslng the dsks of matedal mlsstalem8nt In respect of trregUlarl9$, Includlng fraud and non-compliance wrth laws and regulatsons. was as follows.. the engagement partner ensured that the engagement 10am oJIlvelY the approprlal8 comp8t8nc8, pabllities and skills to Identify or reccgnise non-compllance appllcable laws and regulations; we identified the laws and regulations applicabl8 to the Charity through disujssions with directorsltruslees and other management. and from our commercial kn(Yl&Jge and exp8rionce we focused on speafic laws and regulations which we consid&red may have a direct matsrial effect on the financial stalements or the operations of the Charty. Indling Companh9s Act 2006. Charities Act 2011, taxation legislation. dats protectbon. 8ntirib&ry, enwloyment enwronmental heatth and safety legis18tion- we Bssessed the 8Xtent of compllance with the 18WS and regulations id8ntifiod above through rnang 8Th]uiri8s of management; and identified laws and regulations byare Ix)mmunicated within the alit team regularly and the team remalned alert to instances of non-compliance through(MJt the audit. We a68es6ed tho SuptibI1ty of the Charitys financlal statemonts to matsrlal mi8ststem8nt. Indudlng obtalning an understsndlNJ of how fraud mbm ocr. ty: making enquiries of management as to where they considered there was suSCbillty to fr8ud, thelr knowledge of actual, su¥pected and alloged fraud: nsidering the internal o)ntrobs in Fdac to mthgate rlsks of fra1 and nonpcompli8nce wfth laws and regulallons: and To ad(tress the risk ol fraud Ihrough manernent bias arKI overrvae of controls. .. perfonned analytical proc8dures to identtfy any unusual or unexFted relationshlps.. te8ted journal entries to identify unusual Iransaclions.. assessed whether judgements and 8ssumpts.ons made In detemilning the ac¢ountlng estimales sel out In Note 3 were indutNe of potential bias" Investigated the rationale trhind signtfifrrt unusual transactlons; and In response lo the risk of irregularities and ropIl8rTh wth laws and r8gulaUons. we desKJred procedures which included, but V+Ere not limited to- agreeing financial ststemfynt disdc6ures to undertying supporting d(Mwmgntation; adlng the minutes of meetings of those charged with governan.. enquiring of management as to actual and Fthtial libgalion and dalms:
Lanler Theological Education Foundation IndependentAudltorfs Report to the Trustses of Lanler Theologlcal Educatlon Foundatlon {continued} Audltor's responslbllttles for the audlt of tho flnancial statements (continued Th8re are inherent limitations in our audit prctedures described above. The more reTr)ved that laws and regulatlons are from financial transactions, th818ss likely it is that we would become aware of nonrfomplvance. Audlling standards also limil the audit procedures required to idontify non-complian wth laws and regulatlons to enquiry of the trustees and other management and the inspection of regulatory and legal corraspondence, 6f any. Material mlsstatements thal arfse due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealm8nt or collusion. A further description of our r8sponsibilrt is available on the Financial Reporting CnCIl,S website at.. www.frc.org.ukJauditorsresponsibilities. This descTiPtion foms part of our auditor's reF(Mt. Use of our report This report is made solety to the ¢haritable company's members. 8s a body, in a¢cOrdan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are requlred to state to them in an auditor's report and for r¥) other purpose. To the fullest extent permitted by law. we do not a¢pt or assume responsibilty to anyone other than the charltable (x)mpany and the charltable company's members as a body, for CAJr audit work, for thi% report or for the opink)ns we have formed. /// &3- Robert Klrtland {Senior Statutory Auditor) For and on behalf of Gravtta Audrt Oxford LLP. StatutoryAudktor First Floor, Park Central 4041 Parf( End Street Oxford I OX1 1JD 0*e: 181912025
Lanier Theological Education Foundation Statement of Financial Activitses (combined income and expenditure account) For the Year Ended 31 D8cwnber 2024 UnTr¥tsict•d Funds Funds Fund8 Fund$ 2023 Total 2tr23 2024 Not• Grants 8,1.975 6.1.975 3.951,780 3,951.780 DcaLK5 and kgac188 I2,746 102.746 17.460 17,460 Total In¢omo 6,29&721 6293,721 3.W.240 3,969.240 Charitab EweTh1jre .273.123 I1J. 1.W26.1131 1177,287 2.103.400 N¢t Incom• 4.20,598 119).552} 3.830.046 2.043.127 1177,287 1,8,840 Net in funds 4.020.598 I1.552) 3.830.D46 2,043,127 1177.2871 1,885.840 Fur¥Js 81 1 Janwy 2.161,677 1&625.628 1,787.303 118.&fj0 18,802.913 18.921.463 Net 4,tr20,598 I1,552) 3,&XI,046 2,043,127 1177.2871 1,865,840 Funds al 31 Dec•mr 6,182,275 18.435,074 24.617.349 2.161.677 18.625.626 20,787,303 The notes on pages 13 to 22 fc*m part of these finanual statements. 10
Lanier Theological Education Foundation Balan¢• Sheet As at 31 December 2024 2024 2023 Flxed assets rangle assets 21769.754 19.428,592 Current assets 10 1*613 1,388,694 Cash at bank arKI in hand 11 914711 920,454 1.071.324 2.309,148 Currgnl Ilabllltles Creditor5.' arnounts fdling due thin one year Not currenl assets 12 {223.729) {950.437) 847.595 1.358,711 Net assots 24617.349 20.787,303 Capltal and reserves Restricted fulS 18,435,074 18.625,626 Unrestricted ndS 182,275 2.161.677 Not assets 24.617,349 20.787.303 . The financial statements were approved aufvised for issue by the tThrd and We sign . on its behaf on 28 August 2025 P Lindon . Trustee ' The rKfytes on pages 13 to 22 foTh part of fina[la1 statements. 11
Lanler Theological Education Foundation Statement of Cash Flows Forthe Year Ended 31 Déc•mr 2024 2024 2023 I Cash flows from operatlng actfvttles Net movement in funds 3,830,046 . 1,864.940 Adjustmonts for. D8preciatsn of tangible assets 517,727 190,439 D8cTras81 {iTNxease) in deblor5 1,232,081 (1.277,5261 Increase l {d8crease) in credTt(Ks In6,708) 483.523 Net cash provlded by owatlng actlvlu 4.853.146 1,261.376 Cash flows from Investing aclmtles Purchase of taroible assets 14.858.889) 15.698.281) Nèt cash US In Invostlng actlvltlès (458.889> {5.698.281) N•t (decre) In cash and cash oquival8nts (5.7431 (4.436.905) Cash and cash equNalents at beginning of year 5.357,359 Cash and cash equlvalents at the end of y&qr 914,711 920.454 Cash and cash equlvalents at the end of yaar comprlse: Cash at bank and in haTrJ 914,711 920.454 . The notes on pages 13 to 22 fonn part of these financi staternonts. 12
Lanier Theological Education Foundation Notes to th• Flnan¢i41 Statsm?nts For tho Year Endod 31 Dg¢8mbor 2024 General Inforniatlon Lanier Theological Education Foundation is a Charity limil&l by guarantse whith is incorporated in England and Wales. The registsred company number is 13541047 and the prin(ipal offi¢e address Is Yamton Manor Church Lane, Yamton. Oxfcffd, OXS 1 PY. AoUntIng pollcle8 2.1 Ba81s of preparatlon ot flnonclal ststemonts The financial statements are prepared under the hith1 cost CxMvenOon And in accordance with the Accounting and Reting by Charities: Ststement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Flnancial RepMNting Standard appllc8Ne in the UK and Republic of Ireland {FRS102) leffecttve 1 January 2019) - (charit SORP {FRS102). the Financlal ReporUr¥J Standard applKabie In the UKaTh3 Rewblic of IrelarMI (FRS102). the Charit188 and the Companies Act 2(X. Th8 preparatton offfin8nd statem8nts in rmplI8neo wlth FRS 102 requlre8 the us8 of(¥rt8in uib'c81 accountirvJ estimates. li al80 rwuires management to exercise ludggment in applying th8 Chartys accounting pc4icie8 (see note 3). Tho fdlowlng prlndpal acxxwntiTrJ Fdidos have tjeen appllgd: 2.2 Golnk ¢one•rn At Ihe Ilme ol approvtng arxounts, the Irustees hav8 a reasonable expectatlon that the Charfty has adequate resourc89 to LnUe In 0ratIonal 8XiStence for the foreseeable fijture. The trustees b81th that bl Is apwowlate lo prepa the xo)unts on a going fA)ncem basls. 2J For•lgn Vron¢y tr•n•l•tlon Funcllonjl and prowntallon currency The Charws funcllonal and pre8entalbn81 Is GBP. Transacttons and balanc8• Foreign ¢urren¢y tran$8¢th)ns we translat&J Into the funcllonal currerry uslng the spot exGhan9 rates at the dates ofthe transactlons. At each pedod end IeIgn currenw monetary itets are translated using the dosing ratg. Non- monetary items measured at historic*1 Lt are translated using the exchange rate at the dale of the transaction and non-rrrf)nelary items measured 8t fair value are rn&Ured using the exchang8 rate wtren falr value was detwminod. 2.4 Incom• Income is reo)gnised in th8 Staterrent of FlnarKial Adivltles when the Charity Is legally entitled to the income. tt Is probatAe that the income will be recerved and the amount can be quantrfied th reasonatrAe accuracy 13
Lanier Theological Education Foundation Notes to the Flnanclal Statemènts For the Year Endod 31 Decomber 2024 Accountlng pollcles (contlnued) 2.5 EXp0ndlre All expenditure Is ac£ounted for on an aCxnL basis and has been da&slfied under headings that aggregate all costs rekted to th8 category. Vlhere costs cannot be directly attributed to parfjcular headings they have been allocated to athitjes on a basls consistent with use of the resources. Govemanco costs are those incurr8d in cOnnlon with GovemarK8 of t Charity and &)mpliance with constibjlional and statutory requirements. Redundancy COBts ar8 recognl8ed as an expe In the Statem8rrt of Flnandal Acti¥ltles and a Ilabll on tho Balanco Sheet immed1Y at th8 Int the fndatn is demonstrably commltted lo elther.. tennlnaté the employffnt of an employee or group of employees before normal retirement date., or promde temiination befits as a Utt ol an offer mad8 in (Yder to encourage voluntary redundancy. The F(yJndation is considered lo be demonstrably wmmitttid i)nly it has a detailed forn1 plan for the t8rminatson and is tht re4ists¢ of wlttrthl from the pk8n. 2.6 P•n8lon• Pensfon contrltthons are pald into personal pen8iOn 8ch8mes on the 8ce of Indep8nd&nt financlal adSOr8. Pen81on rJ)sts are charged to the Stalem8nt of Flnandal Actfvttkn ac(y)unt on an accruals b8$1$. 2.7 Tanglbl• flx•d a88•ts Fixed assets are stated at cost less aLumul8ted thpreca'ation. Flxed assets with a cost lOW £1,000 are not capitsli8ed. Depreuatron is charged so as to all(Thte th& cost of a888ts less thelr residual vu6 ovor thelr estimated uselul lives. OeFYeclation Is pded on the followkng basis: Freehold Land and BuikJiry$ Improvements Flbre oplic Plant and ma¢inery Molor vehides Nelwork infr8$truthire Fixtures and Fittlngs ComFXrter equipment FirewalVSocurityWIfi - Stralght line over g) years - StraSght Ilne over 50 ye8rs - Straight Iln8 over 25 years - Straight lin8 over 3 years - Stratght lir over 4 years - Straight li over 10 years - Straight lirn over 4 years - Straight line ovar 3 years - Straight line over 5 years 14
Lanier Theological Education Foundation Notes to the Flnanclal Statgmonts For th• Y•ar Endod 31 De¢embor 2024 2A Dobtors short.term debtors are measwed at transth prk. less any impalm8nt. Loans recervable are measured initialty at falr value. nel of transaction costs. and are me0red subsequently at arTh)rttsed cost using the effective interest meth[. less any impairment. Accounting poliele8 (conlinu•d) 2.9 Cash and cash •qufval•nts Cash Is represented by cash in hand and deposits with financlal institutlons repayable wlthout penalty on nollce of not more than 24 hours. Cash equivalents are highly liquid inv&stsn8nts that rnalu In no nKKe than three nkxths from Ihe date of wuisition and that are r8adlly n¥artIbtO known amounts of $h with IngnIfiCant risk of change in value. 2.10 Cr•dltors Short-term creditors are measured at the tr8nsa¢iM price. Other financial liabilities, including bank loans, are measured initially at fair value. nel of transactlon costs. arthj are moasured subsequently al amortised cost usiro the effective int8rest meth¢)J. 2.11 Flnanclal Instrumonts The Ch8rity onty has finanaal assets aTrJ Ihqbilths of a klnd th81 qualify a$ basic llnanclal instruments. Basic finandal Instruments are initidly rnd at transaclion valuo and sub8equontly measured at their seluement value. Judgom•nl• In apptylng ac¢ourrtlng pollcl•s and koy 8our¢M of •stlmatlon un¢ortalnty In the application of the charitable o)mpan8 acxxunling wlKyes. tho Trust688 are requlred to make Judgemenls. esttmates and assumpkn'ons abJt the carrylng alrnts of ag98ts and Ilablllties that are not rgadlly apparent from other sourrs. The estlmate8 and asscKlated assumption5 are based on hl8knrfcal experience and other factors that are InsKered to be rel&vanL Actual rosults may differ Irom these e8tlm8tes. The estimates and underlylng 88sumplons are rev18we on an ongolTr3 bas15. RevLon8 to accounting esb'mates are reccwjnised in the Feriod in whlch the estimgts is rewsgd rf the revision affects onty that pericKI, or in the year ofthe rovision and fure pwh)ds rfthe revisM)n affects Lx)th ¢urrent and future periods. There were no ludgebrent or material estlmalicm UnrtaIntieS 8ffedir¥J the repytsd financial porfomance in the current year. 15
Lanier Theological Education Foundation Notes to the Financial Statemonts For the Year Ended 31 DoG8rnber 2024 Grants recelvable Year endgd 310e¢ember 2024 Yearended 31 December 2023 Unrestricted Restrirted Total Unrestricted Restricted Totsl Fuds Funds Funds Funds Lanler Theologlcal Llbrary Foundatlon Grants Refurbishments and operations 6.190.975 6,190,975 3,951,780 3.951,780 Charitable expenditure- Yamton Manor Costs and donatlons to slmilar charltles The following table relates to the year ended 31 Dec6mber 2024: Charltable Goveman¢e Costs Support Costs Totsl Staff costs (nots 7) Legal fees Consultancy Facilities Exchange rate differences Travel and entsrtalnment Donations 405,868 405.868 59,474 59A74 1,693,850 114,306} 11,156 191.180 2.602 1,693,850 (14,306) 11,156 191.180 2.602 12,300 Audit fe85 Ac(ounts pTrparation Outsourcing and othw advice 12,300 101,554 101,$54 2.290.350 71,774 101.554 2.463.678 16
Lanier Theological Education Foundation Notes to the Financlal Statements For the Year Ended 31 December 2024 Charitable gxperHlityrg- Yarnton Manor Costs and donatlons to slmllar charltles (contlnued) The follcpMng table relates to the year end&J 31 December 2023: Charttabl• Govemance Support Costs Costs Total Staff costs (note 7) Legal fees Consullan¢y Faalilies Exthange rate dtfferences Travel and entertainment Donations Other Audit fees Accounts preparation (knourciNJ and other a¢fvtce 291.826 99.469 1.200 1.338,082 12.135 9.740 151,500 21.634 291,826 140,320 1.200 1,338.082 12,135 9,740 151.500 21,634 11,700 8,979 117,184 40.851 11.700 8,979 117.184 1.925,586 61.530 117.184 2.104.300 Audltoes romurbgrauon During the year. the Charty obtained the fdlthMrJ from the Chartys aLJitor. 2024 2023 Fees payable for the audit of tho Chartvs annual finanryal statements 12,300 11.7CNJ Other faes 4569 16.869 11.7C 17
Lanier Theological Education Foundation Not•s to tho Financial Statements For thg Ytrar Ended 31 Dgcgmbgr 2024 EmplOoS 2024 2023 Wages and salaries 373,329 276,730 Sccial securTty costs 2316 10,230 Defined CL)ntribubon pension scheme 9,023 4,866 405 291,826 The average M( number ofemployees during the year was 9 {2023- 5). No salaries were paid to Trustees. The key management P8rsonnel in the year were Damd Aeming and Beverfy Fleming. employees ofthe f(wndalM)n. The key management personnel remuneration for the year totslled £111.435 {2023- £111.146). Two people pald bet¥een £60,LKM)- £70.CO) in the year (2023- one). In the year ended 31 DecemEw 2023, a £30.(KK) redundanry Foyment was paid. which is induded in the wages & salaries figure at)ve and measur£ in aOrda a(UntIng polioy 2.5. There were no redundancy panents made in 2024. Taxatlon The Charity is exempt from tax on InMe aNI galns falling wrthin sectlon 505 of the Taxes Act 1988 or seclion 256 of the Taxation of Chtrgeable Gains 1992 to ts extent that these are applied to its charitable objecls. 18
Lanler Theological Education Foundation Notes to the Flnanclal Statements For the Y•ar Endod 31 D•c•mber 2023 Tanglble flxed usets Frfrehold Lond and Bulldlng* Improv•monts Flxturo8 and Comput•r Flttlngg •qulpmont Flbrn optlc Flr•wall, 8e¢urlty and Wlfl Plant and machSn•ry Motor Notwork v•hIc1 In1rn8tructur• Totsl C¢8t or valulltlon Al 1 January 2024 9,700,065 9,255.996 13,536 361,489 2,298 29,808 99.739 120,433 19,622,186 A(Idltlon6 1,585,817 3,067.337 69,922 7,289 88.183 20,945 4,858,889 Al 31 O•¢•mb•r 2024 11,265,882 12,323.333 13.536 431,411 9,587 98.218 29,808 167,922 141,378 24,481,075 D•pr•clatlon At 1 Jonuary 2024 70,538 67,637 7,093 35,017 1,263 342 3,726 2,254 5,724 193.594 Ch8Tge thg year 177,120 184,$61 4,431 98,720 1,5 2,973 7,452 13,836 27,084 517,727 At 31 D•combor 2024 247,658 252.198 11.524 133,73Y 2,813 3,315 11.178 16,090 32,808 711,321 Net book valué At 31 Decembor 2024 11,018,224 12,071,135 2.012 297.074 6,774 94,903 18.630 131,832 108.570 23,769,754 Al 31 D8rhmber 2023 9,629,527 9,188,359 326,472 18 1,035 36,480 26,082 97.485 114,709 19,428,592
Lanier Theological Education Foundation Notes to the Financial Statèménts For the Year Ended 31 D0mber 2024 10. Debtors: amounts falllng du• wlthin one year 2024 2023 Accounts Rec¢Nable 3,686 ArUnts owed by group undertakings Other debtors 10,856 Prepayments and acryued Inccffie 152,927 1,374,892 156,613 1,388,694 Anunt8 owed by group undertakings are unsecxxed, repayable on dem8TrJ a1 interest free. 11. Cash and cash equlvalents 2024 2023 Cash at bank and In harKI 914,708 920,454 11 Credltor8: amount8 falllng due w5thln one yoar 2024 2023 Trade creditcffs 111.660 834,062 other taxation and sodal security 19,667 13,479 Other credklors 2.272 186 Accruals & deferred Income J.130 102.710 223.729 950.437
Lanler Theological Education Foundation Notes to the Flnanclal Statements For tho Y•ar Endod 31 Decombgr 2024 13. Statsment of fvnds Balan¢8 at 31 Decomber 2024 Balanu at 1 January 2024 Incomo Expgndlture Unreslthcled funds 2.161,677 6,293,721 12.273.126) 6,182.272 Restrlcted fvnds 18.625,626 (1,552) 18,435.074 20,787.303 8.293.721 2,463,678 24.617,346 The restricted funds relate to fvrtherlTr3 the establishment and malntenanL* of a theologi1 Ilbrary. Balanc• at 31 Docembor 2023 Balance at 1 January 2023 Incomo Exwndfturo Unrestrl¢ted fur8 118.550 3.989.240 (1.926,113) (1 TT,287) (2,103.4001 2,181,677 Restrkted furKIs 18,802.913 18.625,626 18.921.463 3.969,240 20,787,303 14. Anatysls of nol aM•ts bgtwe•n fund• At 31 December 2024 847.W2 847.592 Tanglblg fixod assots 5,334,680 18.435,074 23.769.754 6,182.272 18,435,074 24,617.346 21
Lanier Theological Education Foundatlon Notes to the Flnanclal Statements For th• Y•ar Endod 31 December 2024 At 31 De¢ember 2023 Unre•tiictad Net rrent 8SS8ts 1,358,711 1.358,711 Tanglble fflxed assets 802.986 18.625.626 19,428.592 2,161,677 18.625.626 18.921.463 1S. Commltm•nts undor op•ratlng IDa888 The Charfty leases out Lqnd al Yamton Manor under a nonvcancallable opernlThJ b8a88 for the followlng ftrture nnImuM lease payments. There are no contingent rents. 2024 2023 3,028 3,028 Not later than 1 year 3,028 Later than 1 year and not later than 5 years 3,028 6.056 16. R•lal•d party tranuctlon• During the year. the foundation receTrMJ grar)ts and dOrOn3 totalllng £6,1 ,975 (2023 - £3.951,780) Lanler Theologl¢al Lary FourKlats'on: a chty b8ged in Texas. USA of whlch B Lanl8r is a common trusle& l$ee note 4). Durfng the year P Undon was Charged £2.110 for an event held at Yarnton Manor 17. Capltal Ctynmltmonts At the year Br the foundat1 was wnmltted to the ojnpletion of lIdIng work on the Bam Library. The estimated Cost of o)mpletion was £3.292,308.