Lanier Theological Education Foundation Rerxjrt and Financial Ststements Year Ended 31 December 2025 Company Number 13541047 Charity Nunkner 1195607
Lanier Theological Education Foundation Charlty Infornlion Trustees B Lanier W M Lanier (APn 16 De¢ 2025) (Chair fftNn 16 Dec 2025) P Lin(lon K Roberts (Chair to 16 Dec 2025) EThee A R R Wir•d Duby Registered number 13541(47 Charlty number 1195607 Prlncipal ofllce Yarnlon Ma Church Lane Yamton OX5 1PY Audftor Gravita Audit Oxford LLP First Fl(x)r. Park Central 4041 Park Ervj Street Oxffyd OX1 1JD
Lanier Theological Education Foundation Contsnts Page TTUSteos' Report Indudlng the Strategic Report Independgnt Audlto¢$ Rèport ststemont of Flnancial Activities 10 Balance Sh¢et 11 Statoment of Cash Flow5 12 Notes to the Flnancial Statements 13-22
Lanier Theological Education Foundation Trustees. Report Includlng the Strateglc Report For the Year Ended 31 t>ecember 2025 The Trustees, being also Directors of the charitable o)mpany. present theirTrustees' feFort induding the Strategic Report together with the finanaal ststements for Lanier Theolc¥Jical Education Foundation ILTEFI for the year 31 December 2025. The report CThnpIS wrth the CharitiesAtt 2011. aThJ the Directors, report as required by Section 415 of the Companies Act 2006. The financial statements cyjmply wrth the requirements of the Companies Act 2006, the charitable MpanY'S Artides of Assory"atiOf) and the Charrties Statement of Recommended Practice ISORP FRS 102 effective 1 January 20191. The principal and register] office addre55 15 Yamton Mancff, ChUh Lane. Yamton, Oxfordshire. OX5 1PY. Trustees. r•sponslbllllles In relatlon to the flnancial slatsmonts The trustees are responsible for prepanng the Trustees. Report indling the Strategic Report and the financial statements in accordance with applicable law 2nd regulatsons. Company law requires the trustees to Pfepare finala1 statements for each financial year. Under that law the trustees have elected to prepare the fina1 staterrwts in accordance with applicabte law and United Kingdom Accounb"ng Standards (United Kingdom GenerallyAfxepted Accounting Praclice). inchjding Financial Reporting Standard 102 'The Financial Rewts'ng StaThJard aplb in the UK a1 Republic of Ifeland,. Under company law the trustees must not approve the financial statements unless they are sab"sfied that Ihey give a tNe and fair view of the state of affairs of the Charty and ofthe proffl or loss ofthe Charity for that period. In preparing thes8 finanaal statements. the truslees are requirwl to: selecl suitable ac(x)unting policies and then apply them (x)nsistently, make judgements and aOUnting estimates that are reasonab and prudent, follow applicatrAe accounting standards. subject to any material departures disdosed and explained in the accounts.. and prepare the financial statemenLs on the goirvJ conwn baw5 UnSS it is inatvropriate to presume that Ihe Charity will ntinue in business. The Twstees are responsible for keeping propw accwnt.ng re(x)rds, which disdose wrth reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the ststement of Recommended PF8clice "Accounting by charrt5-. They are also responsible for safeguarding the assets of the Charity and hence I8n9 reasonable steps for the wevention deteth'on of and other irregulaiities. Charitable purpose and Maln Actlvitlés The ChanS object is. for the benefit of the public. to advance the chriStn faith Partila[lY but not exclusively through the establishmpnt and maintenance of a theok)gical library and leaming (tre at Yamtcw) Manor. The Charty has t)een established to operate the new theotogical lthry arKI leaming centre with a focus on biblical research. theologi1 education. and training indiwduals for Christian ministy in the UK and 8cross Europe. Since incoryx)ralion, the Chanvs mwn adsvity has been to renovate the historic Yamton Manor an surrounding properties to aid in the purposes of the Chanty. Major renovab.ons to the Manor House were completed in Juty 2023 along wtth Ihe completK>n of supporting aC£oMr)tion and housing. The final proje¢t was the development of the Library, 5ubstsntially completed in June 2025. sin August 2023 the Charty has hosted irKlividuaL8 and srnall groups at Yamton Manor. itKluding groups for training and strategic planning, visikn.ng scholars from across the UK and around Ihe world. and residents who are students of Oxford Universty.
Lanier Theological Education Foundation Trustees. Report Including the Strategic Report Icontlnued} For the Ygar Ended 31 December 2025 Flnancial rnvlew and reserve pollcy The net income for the year arncrtln lo £2.839.5 (2024: £3.830.043). The majority ofthe Ch3rrVs 2025 In¢J)me was used forthe stOfrenovationS to Yamton Manor and devdopment of the library. as exted. A reserve F(slicy was adopted by the Charity's Tnjstees on 21 March 2023. It was agreed that the Charity should maintain a reserve of three months. to be rewewed annually by the Trustees. The reseNes at the year end We £27.456,954 (2024.. £24.617.346) induding restrirled funts of £18.220,033 (2024: £18.435,0741 and unrestricted furmts of £9,236.92112024.. £6.182.272). A1rn5 and achlevements The Charity aims to advance the Christian faith through the development of a theological Ilbrary and leaming ntre 8t Yamton Manor. The library and leaming centre will house a publdy aCsible. and Pfimarity freè of ch8rye. library of thec40gical and biblical texts. and may also house OjllectnS of 2rtefacts that promote experiential learning In the Christian faith. for example ancient manuscripts and faG5imiles and other artefacts of religious signthc2n(. It is envisaged that the library will house a (MPrehensIve collection of books, periodicals. hisloric21 documents and with topics ranging from church history arKI bibli¢1 StleS lo archaeology and linguistics (these being relevant to understanding the birth aThJ growth of Christianity). There will be extensive factlsties for self-study at the library. With a focJJs on biblical research. sclwjlats will galher to research. collabordte. write. and lecture on a variety of theologir21 topics. The Charity wll facilitate rigorous theological educ2tiOn. SUPPOfb'ng scholars and students In pursuit of advanced degrees and slralegic teaching a&%nMents. Those 21ready serving in Christian ministry will benefit from seminars, retreats. cdlaboration. and mentoring. Success will be measured objectively through participation in events and activities. both a5 re5KJents and guests of Yamton Manor. In addilK>n. and somewhat subjectively, ptirpants will be asked to indicate whether the faulibes. progrdms. and events are helpful and impactful in the area of research. s40larsp, arKI ministy. With lull participation and a ¢J)nsistent positive response from p8rticipants and Strateg oversight by the Trustees. the Trustees will be able to ensure that the Charity is achieving tts stated aims and obpctNes. Golng concern the ttme of8pproving the accounts. the Trustees have a reasonab ex[ClatiOft trt the Charity has adequate resou5 to continue in operational existence for the foreseeable futsjre. Lanier TheologKxI Library Foundatton {'US Foundation'l has approved an add11n grant in 2026 lo Ihe Charity in the amount 01 $2.000,000. which will cover operatsons. The US Foundation is adequately resourced and able to mainlain its commitment to the Charity to fully fund cyerations on an ongoiro basis. Bank and investment ststements have been provided to Gravita Audit Oxford LLP verifying that Paty. The Truslees belteve that tt is approprie to prepare the accounts a going (rffl basis. strategic R8port Objectives The renovatson of Yamton man and surrwnding properties is now substanb.alty complete. The ffin81 major bLJilding project was devdopment of librdry building substantialty tMpleted in June 2025. The catslcguing of books is an ongoing wo. The Charity is now in p05rtion to establish the Lanier TheolcJrcal Library and Learning Centre at Yarnton Manor. The ongoing objectives are to promole arKI facilitate bibli(*l research, theological edu(akn"on, and training in Christian ministy. This will be accomplished for on (xmpus residents and guests through a variety of courses, seminars, retreats. conferences and rnenloring. These activities. to the benefft of the publ. will advan the christi faith auoss the UK arml Europe.
Lanier Theological Education Foundation Trustees. Report including the Strategic Report (continued) For the Year Ended 31 Dec8mber 2025 Fthure Developmenls LTEF at Yamton Manor Continu to VA)fk aCtTr1y afKI dilw)ty in a(£omplishiry its obj'ective5 throughout 2025. The library opened tts doors to readets from tKth the a(ademic and ministy (x)mmuniti'es, marking a significant milestone in expanding access to LTEF'S resources. We welcomed 30 scholars and their families to live and work on site and continued to grow our residential progrdmmes alon9side the development ol our systems for bookings and facilrti&5 m8nagemenL LTEF also hosted a growing number of groups on campus for multi-day conferences aTKI training events. In September 2025. V were tjelighted to welcome over 500 vi&tors to Yamton Manor as part of Oxfords Open D(M)rs. opening i)ur historic srte to the wder community. Principal risks and uncertainlS The renovation of Yamton Manor 15 TK)w substantially cnmplete, though some ongoing snagging works contsnue to be idenkn.fied and addressed thin the library. therefore the final costs a not yet fully deterniined. The ongoing maintenance aYMI repair of a historic building and estate presents ¢J)ntinuing challenges. IrlUdIng the restoration of historic garden wa115. and the Trustees remain attenb.ve to the financial implications of such works. As the library and residents.al programmes grow, the Trustees are also mindful of the operatsonal costs and staffing requirements a&8ocialed with running these eXpaled facilities effedively. Key Performan indicators The renovation of Yamton Manor is now substantbally u)mplele, and the facilttses are fulty operalional. There is nsiderable interest b)th locauy and beyond in the work being done 8nd the programmes on offer. Key relationships have been and conts.nue io be developed with strategic partners. induding Wydrffe Hall Oxford, Tyndale House Cambridge, and the European Leadership F(Num. The Tnjslees are thriifed Ihat the residential arademic communty has grown strongty. with tK)okings by schdars and familw now in place to summer 2027. The Charity is well-positioned to acrmiplish its otyectrve5 in the yeats ahead. Publlc b8nefft The Charity advances the Christian faith generalty, partiojlarly Ixrt rM)t exclusivety through theological ac"vities induding the provision Df 8 theolc#Jical I{bry and promding educakn.on and training In the subjects of Christian Iheology. biblical studies. church leadership and ministy which will availae to any interested m8mbers of the public and academics. helping to advan the Christsan faith aL¥OSS the UK aTid Europe. Strncture and Govemance The Chanty is a charitsble mmpany limrted by guardntee govemed uTrJer its Artides ofAssociation. The Tiustees are responsible for the strategic directDn of the Charity. its funding arKI development and the oversight of its perf0MafK. With the trustees meeb.ng at least twi eath year and in regular email commullication. The Charity has a Scheme of Delegatron in pla approvay by the Tnjstees in October 2022. A Cooperallon Agreement is also in place bets¥een the US Foundation and the Chanty. The Charity has establish1 a trading subsidiary LTEF Trthjing Limrted. which in time will be used to cary out any non-c*Jarttable trading acaivibes.
Lanier Theological Education Foundation Thtstees. Report Indudlng the Stratsgic Report leontinuedl For the Year End•d 31 Decombgr 2025 Trustees The directors of the Chanty are 0 its Tnjstees the wrtM)se of charity law and thrcwghout thi% rewt are collectively referred to a5 the Trustees. The Trustees servTrng during the year and up to the date of SnIng the finan(aal statem8nts are as follows: B Lanier W M Lanier (Appointed 16 Dec 2025) (Chwr1¥Tr 16 D8c 2025) P Lindon K Roberts (Chair fo 16 Dec 2025) EThee A R R wIngfld Digby There shall be at st three Twstees from the date th8 Chanty was regislered. The appointment of a truste8 is by decision at the trustees, ting. There a TrenY f(TStee$ fft)m the US Foundation and two from the UK. Trustee recruitment and appolntment The Lanier Theological Educatson Foundation employs a systematic approach to trustee recruitment lo ensure the board maintsins the applate mrK of skills, experience, and dIVety required to effectively govem the organisalion and adwan( it5 charitsIe objectives. New tfustees are identsfied through mulliFAe channels. including recommendations from existing trustees, slaff. and stakeholders. and through engagement with strategic partners and profession81 nelworks. Prospeth've truslees (x)mplete a cx)mprehensive application and interview process induding detailed oJrtiuJlum vitse. interest and motivation for servi, and persor481 and professKJnal reference5. Trustee tralning and develobThnt newly appotnted trustees (Jxnplete a (YjmprerSlv8 indudion prcyamrne within three months of appointrnent. Vering govemafice fundamentsls. organisalional contexl. and practical govemance. The board maintains a rolling programme of training and development aclFwts"es intemalty and Twstees are encouraged and supported to attend relevant external trainiThJ where approprie. Underthe gUKjan ofcharity attomeys al Bates Wells. govemance best practice ewing trends are reviewed arKI polKies and pr(re$ are UFKSated as appropriate. The effe(INen of the training programme is r8vie•ved annualy as part of the board's setf- aSseSsnt prOss, wrth adJ'uslrrents made based on identified neeAYs and changing regulatory requirements. Key management personnel The key rnanement pernnel are David Fleming and Beverfy Fleming tOther with Dan Steel. Disclosure of Infomiation lo audttor Each of the persons who are trustees at the time when this Tntee$, Report induding the Strategic Report is approved has confiml that.. so far a5 the trustees are abydre. there 15 no levant audit infomialion of whith the Charitvs auditor unaware, and the tmstees have tsken all the steps that Ought lo have been taken as a trustee in ler to be aware of any rdevant audtt infMaon and to estsbli5ti that the Chantys audi is aware of that informab"on.
Lanier Theological Education Foundation TTusta•s' Report including the Strategic Report {continued) For tho Year Ended 31 December 2025 Post balance sheot events There have been no swJnifi(ant events afferAing the ChaTFty Sin the year end. Auditor The auditor. Gravita Audr( Oxford LLP wdl be propwd fcf reapFX)intment in accordance with section 485 of the Companies Ad 2LKJ6. This report bWd$ approve(I by ts Ixia on 26 May 2026 and swJnwJ on its behalf. P Llndo Trustee
Lanier Theological Education Foundation Independent Audttorfs Report to the Lani•r Theologlcal Edueatlon Foundation Oplnion We have audsied the finanryal statsments of LanterT1?jICaI Educ4ts"on FouTvJation (1he charitable companll for the year ended 31 Drnber 2025 which MpriSe the Ststement of Finanaal Activities. Balance Sheet, Statement of Cash Flow5 and the notes to the financtal statements. i[udIng significant accounting polici8s. The financial reporting framework that has been applied in their prepardton Is applicable law and United lQngdom Aco)unting Standards. includiTrJ FRS 102 The Financ4al Re[KI"Trg Standard able in the UK and Republic of Irdand (United Kingdom Generallyknepted Ac££wJntiThJ Prth). In our opinion, Ihe finanoal ststements: gNe a tru8 and fair view oflhe stste of the charslable coMpanS affairs as at 31 December 2025 and of its incoming resources and application of rEscNJrces for the year then ended; have been prOpty prepared in KDlanCe wth United lQngd(m Genera7tyAptedAco)un1Ing Practice: and have been prepared in acC£9rdan with requirements of the Companies Act 2006. Basis foT opinlon We conducted aur audrt in accordan with Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. OUT responsibilities under those standards are further described in the Au(lrtorf$ responsibilitie5 for the audit of the financial statements section of our report. We afe independent of the charitable company in accordance with the ethical requirements that are relevant to our avdit of the financial statements in the UK, induding the FRC'S Ethical Stsndard. and we have fuffilled our other ethical responsibilities in accordance wf(h these requirements. We believe that the audit evwfjere we have cl)tsined is suffi(xent and appropriate to Fwwde basis for our opinion. Conclusions relating to goiDg concern In audrting the financial statements. we have conduded that the Irustees. use of the going conrn basis of accounting in the preparation of the finan(aal Statem appropriate. Based on the work V have perfOrnd, we have not idenbfth any maten.al unrtaIntieS relating to events or conditions that, indivKlually or collects'vely. may cast significant doubt on the Charity's abilty to continue as 8 going concem for a period of at least 12 months from when the financial ststemenls are authorised for issue. Our responsibilitses and the responstbilities of the trustees wlth respect to gJiThJ 0)nc are des¢Jibed in the relevant sections of this reFX)rt. Other Informatlon The other infomiation comprises the inforrnation induded in the annual rep)rL including the tTUStees' repcit, other than the financial statements and our audilorfs repcwt thereon. The trustees are responsible for the other infonatiOn contained wrthin the annual repcrt Our opinion on the financial statements d8 not cover the other Infomation and. excepl to the extent othemse expliaty staled in our rep)rt. we (*) r#)t express any fo of assuran condusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is m8teri811y inconsistent wth the financial 5tstements ¢)ur knOedge obtainj in the coutse of the audrt. or otherwise appears to be materially misstaled. If we thntify sh matenal inconsistencS or apparent materlal
Lanier Theological Education Foundation Independent Audltor's Report to th8 Trustees of L7nier Theologlcal Education Foundatlon {contlnued) misstatements. we are required to determine whether this gives rise to a material misstaternent in the financial statements themselves. If. based on the we have [erfo1. we (y)ndude that there is a material misstatement of this other informatron, we aTr required to report that tac We have nothing to report in this regard. Opinlons on other matters prescrlbed by the Companles Act 2006 In our opinion. ba1 on the VKKk urxlertaken in of the audL' the Infonr10n given In the trustrt8' reporL which indudes the directots, report and the strategic report prepared for the Purposes of company law. for ttE financial year for which the financial ststements are prepared is fL)nsistent with the financial Statents.. and the directors, reFxwl and the stratvJic reF(¥t induded wrthin the trustees. report have been prepared in accordance with applicable legal requlrements. Matters on vthich we are r8qulred to report by ex¢eptloTr In the light of the kn¢Jvledge and understanding of the MpanY and Sts environmenl obtained in the Course of the audrt, we have not Identified fTbaterial misststements in the directors. report induded within the trustees, rewrt. We have nothing to in resped of the fdkM"ThJ matters ID relation to which the Companies Act 2006 requi Isl us to report to you rf, in our opinion: adequate and Proper arAx)unting reoyds have not been kept. retums adequate for our audit have not been ceiVed from branches not visrted by us: or the financial statements are not in agreemenl with the arztIng recrnls and retum5; or certain disdosures of tnjslees, remunerabon by law are not made.. we have not received all the informakn.on and expt2n8tions we require for our audtt Rosponsibilities of dlrecto As explained more fvlty in the tritees. wponsibilities statement [set out on page I, Ihe trustees (who also the directors of the charttable LThnpany for the wrwses of company law) aTr res[SIble for the preparation of the fin8nctal statements and for being satisfied that they gNe a true arKI fair view, and for such intemal control as the trustees determine is news8ry to enable the preparation of ffinancial statements that are free from material misstatement, whelher due to fraud or em)r. In preparing the financ491 statements. th8 trustees are reswnsiNe for assessing the o)mpanS abilty to continue as 8 going (xjncem. disdosing, as applicablo. matters Telated to g(xng Conc and using the going cOnM basis of accounting unsS the trustees either to INuKlate )rnpany to rmse operations, or have no realistic altemative bul to do so.
Lanier Theological Education Foundation Indgpendent Audltorfs Report lo the Trustees of Lani8r Theological Educatlon Foundotion (contlnuodl Audltorfs responsibllltles for the audlt of the financlal slatoments Our objeth'ves are to obtsin reasonable asS1ran al1 ether the financial statements as a whde are tree from material nwsstatemenL whether due to fraud err. and to i&8ue an audrtor'5 report that indudes our opinion. Reasonable assutance B a high level of assurance but ts not a guarantee that an audrt conducted in accordance with ISAS {UKI will alvrdys detect a matenal misstatement when it exists. Misstatements can arise from fraud or error and aTe consldered material rf, indivldualty or in the aggregate, they could reasonably be expecled to influeFH the economic de(isions of users taken on Ihe basjs of these financial statements. Iir8gularities. induding fraud. are InstareS of nr<FI1anCO wilh laws and regulat$. We deSn procedures in line with our responsibiltties, oullined atKsve. to detect material misstalements in respect of irregularities. including fraud. The extent to which our procedures we capable ot deteth'ng iTregularities. including fraud is detailed below- Our approth to idents'fyir•J and assessing risks of material misstatement in SpeCt of irrwJularities. induding fraud and non-cOm41ar Vth laws and regulats'ons. as fdl(Y4VS: the eroagemenl partner ensured that the engagement team llectiVety had the appropriale comFetence, 12pabilities and skills lo Njenlty or recognise non-compliance wrth applicable laws and regulations: we identtfied the laws and regulations applicable to the Charity Ihrough dwusSio wf(h direct(wsltrustees and other managemen( and from our commerc1 knThedge and experie we focused on specific laws and regulatK)ns which we considered may have a direct material effect on the rinancial statements or the operth'ons of the Chanty, induding Companies Act 2006, Charities Act 2011. taxation legislation. data proteTr. anti-bribery. employmenl. environmental and health and safety Ils[aOn', we asse&%ed the extent of ryI1an with the ta5 and regulations identifij ab)ve through making enquiries of managemenL and identsfied laws and regulakn.ons ve D)mmuni(2led wtihin the audit leam regulaty and the team remained alert to instances of non-&)mpllan throughout the audit. We asseswj the susceptibilty ofthe Chanty's fin8naal statements to material misstatement. induding obtsining an urKler51anding of how fraud might 0(#r, by: making erNuiries of management as to where Ihey considered there was suptibIlity to fraud. their knowledge of actual. suspected and alleged fraud. considenng the internal Contro in place to mrtigate risks of fraud and n0nwmp1nce with laws and regulab"ons", and To address the risk of fraud through manageryEnt bras aTrJ Oveide of iJ)ntrds, we: perfomied analyk(%l pro(duTes lo identify any unusual or unexFCted relallonships" tested joumal entries to identfy unusual transaetions.. asse&8ed whether judgements and assumpti$ m* in detemiining the a(Unting estimates set out in Note 3 were indicative of potential bias. investigated the rab"onale behind sy3nrfThnt unusua transacticKts: and In response to the risk of irregularrties and non-C¥)mpITrCe wth la and regulation5. we desiqrsed prOdureS which included. but were not limited lo.. agreeing financial ststement disdosures lu ndty1r8 SUPTnting d0mentation. reading the minute5 of meetings of those charged wrth governan. enquiring of managemart as to acttjal and [ntial libgation and daims:
Lanier Theological Education Foundation Independent Audltorfs Report to the Trustees of Lanier Thgologlcal EdUtion Foundation (¢ontlnuedl Auditorfs rosponsibilltles forthe audit of the flnancial statsments (continued) There are Inherent limitations in our audit procedures described above. The more removed that laws and regulation5 are from financial transactions, the less likely it is that we would become aware of non-fA)mpl1an. Audib"ng standards also limf( the audr( proc£dures required to identify non-COmkI3n with laws and regulations to enquiry of the trustees and other managernent and the inspeth.on of regulatory and legal ccffespondence, rf any. M8terial misstatsments that arise due to fratKI (2n be hathr to deteca than thctse that arise fr(XD error as they may involve deliberate conekalment or collusion. A further desuiptioTr of our responsibilth'es is available on the Finanual Reports'ng Council's vbsIte al.. www.frc.org.uklaudrtorsreswnsibilie5. This de.PtiOn fomis part of audFtor'$ reprrt Use of our report This report is made solety to the charitable Ixynpany's members. as a tx)Jy, in ac£ordance wilh Chapter 3 of Part 16 of the Companies Act 2C#J6. Our audrt wiwk has been undertaken so that mighl state to the charitable company's membets those matters we are required to state to them in an auditor's report and for no other purtx)se. To the hjllest extent pemiitied by law. we do not awt or assume responsibility to anyone other than the cliarilable company arml the chantable MpanY'S members as a body, for our audit work. for this report, or for the opinions we have formed //•• Robert Kirtland ISenKK Statutory Auditor) For and on behalf of Gravit8 AlIt Oxf(*d LLP. Stalutory Audil First Floor. Park Central 4041 Park End Street Oxford OX1 1JD 11712026
Lanier Theological Education Foundation statement of Flnanclal Actfvitles (combined Incom• and expenditure account) For the Year Ended 31 Dwmber 2025 Fund• 2025 Funds 2025 Ttstsl Funds 2024 Funds Totsl 2024 2024 Incom Grants 4365,688 SJ65.888 6.190.975 8.190,975 DonaiK)n5 and legacaes 107MS8 107.459 102.746 102.746 Totsl In¢omè 5N73.146 146 6293,T21 6.293.721 Charitab ExJre A18.50tTri 15,D41 2.633yI 12.273.1rJ} I1.65? 463.6751 Net Incomo 3.054,646 215.1) 2.839,60S 4.02098 I?.552} 3.830.046 Net movèments In fijnds 3.054.646 1215.0411 ZM39.605 4.0.598 1190.S521 3.830,046 Funds at 1 January 182,275 18A35.074 24.617249 2.161,677 18.625b26 20.787.303 Net 354.646 1215.0411 IB39.605 4.020,598 I1.552) 3.830,IJ46 Funds at 31 Oecemb8r 9236.*21 18220.033 27.4S6.954 6,182,275 18.435.074 24,617,349 The notes on p8ges 13 to 22 fcM part of these financial statwnents. 10
Lanier Theological Education Foundation Balance Slwet As at 31 Decembgr 2025 2025 2024 Flxod assets Tangle assets 27.492.237 23,769.754 Cvrrent assets Debtors 10 85,137 156,613 Cash at bank aThJ In hand 11 162.973 914.711 248,110 1,071,324 Current Ilabllliles Credit(Ks.' amounts fallirKJ due wthin one year Net current Iliabilitles) I assets Net assets 12 (283,393) {223,729) {35.283 847.595 27.456.9S4 24,617.349 Capbtal and rreS Restricted funds 18.220.033 18,435,074 Unrestrided funds 9.236.921 6,182.275 Net assets 27.456.954 24,617,349 The financial ststements were approved arKI aulrlse0 for wue by the tK)ard and were signed on behalf on 26 May 2026 P Llndon Trustee Company Number 13541047 Charity Number 1195607 The notes on pages 13 to 22 form part ofthese financial ststem8nts. 11
Lanier Theological Education Foundation ststement of Cash Flow5 For the Yoar Ended 31 Decembor 2025 2025 2024 Cash flows from operatlng activitles Net movement in funds 1839.605 3.830.046 Adjustments for. Depreciation of 12ngible assets 651.873 517.727 Dec*ease in debtor5 71.476 1,232.081 Inuease I Idecreasel in uedttors (726,708) Net cash provided by operalsng actlvltles 3.622.618 4,853,146 Cash IIow5 from Investing aGtfvltles Purchase of tangible assets {4.374.356) (4.858,8891 Net used in inv8sting actlvities 14.374.356) {4.858.889) Net {de¢rease) In cash and Cash equlvalents {751,738) 15.743) Cash and cash equivalents at beginning rfyear 914,711 920.454 Cash and equ5valerts at the end 0fr 162.973 914,711 Cash and cash equlvalents at the end of year comprlse: Cash at bank and in hand 162.9n 914.711 The notes on pages 13 to 22 fomi part of these financial statements. 12
Lanier Theological Education Foundation Notss to the Financlal Statements For the Year Endod 31 December 2025 General Informali( LanierTheolggical Education Foundation is a Chanty fimtled byguarantee which is incorporated in England and Wales. The regislered company number 13541047 and the pnnupal offi address is Yamton Manor Chur¢h Lane. Yarnton, Oxford. OX5 1PY. Accounting pollcles 2.1 Basls of prgparatlon of flnanclal statements The ffinancial statements are prepared under the hislorical rA)St (x)nvenlion and in accordance with the Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their ac(x)unts in ac£ordance wilh Ihe Financial Reporting Standard appli¢8ble in the UK and Republic of Ireland (FRS102} (effective 1 January 20191- (Charities SORP {FRS102), the Finanaal Reportlng Slandard appIlble in the UK and Republic of Ireland {FRS1021. the Chartknes and the Companies Act 2006. The preparation of financaal slatements in coMF41an with FRS 102 requires the use of certain critical accounbng &stimates. It also requires managernent to exercise judgement In apptying the Charity's accounting pdiues (see rote 3>. The fdlchving winLipal aco)unkn"ng pK)licies have been apr. 2.2 Golng concem At the time of approving the aco)unts. the Irustees have a reasonable expectation that the Charty has adequate resou5 to continue in operational existen for the foresee8ble future. The trustees believe that rt is appropnate to prepare the actounts a going (a)ncern bas. 2.3 Forelgn ¢urrency translatk)n Fvnctlonal and presentatl(Trn currency The Chanvs functional arKI kNesentatn81 currency GBP. Trdnsactlon5 and balances FOren currency transadions ar8 translated into the furdional (wrrency using Ihe spot exchange rates at the date5 of the trartsathon5. At each penod end foreiqn rrencY monetary items are translat&J using the closing rate. Non- monetary rtems rneasu at historical cosl are translated using the exchange rate at the date of the transaction and non-monetsry ttems measured at fair value are measured using the exchange rate when fair value was detemwned. 2.4 Income Inoyne is recyjgnised in Ihe statenI of Financial Adivtlies when thp Charity legally entitlgd to the income. rt is probable that the income Vlbll r1ved and the amwnt can be quantthed with reasonable accuracy 13
Lanier Theological Education Foundatlon Notes to the Financial Statèments For the Year Ended 31 December 2025 ACntIng pollcles (continued) 2.5 Expenditu All expenditure is aelnted for on an acuuals basis 8nd has been dassthed under headings that aggregate all cnsls related to the category. Where costs cannot be directly attribuled lo particular headings they have been allcKated to a¢thties on a basis consistent wilh use of the resourc8S. Govemance o)sts are those ined in ajnneclion with (kneMan of Charity and complian with conslitutional and stalutcry rwwirements. Redundancy costs are recognised as8n experse in the Statement of Financial Ath"vtb"es and 3 liabillty on the Balance Sheet iM£diatelY al the Fx)int the foundatM 15 dernonstrably committed lo erther.. terminate the employffent of an employee or grwp ol employees before normal retirement date.. or provide terminalion beneffts as a result of an offer made in order to encourage voluntary redundancy. The Foundatton is ¢xJnsidered to be demonstrably LmmItted onty when it has a detsiled formal plan for the termination and is wrthout realisbc possibility of withdrawal from the plan. 2.6 Penslons Pension contributions are paid into personal pensi(In schemes on the adwce of independeni financial adviso. Pension are charg&J io ts Staiemnt of Financial Activrties account ¢)n an accruals basis. 2.7 Tangible fixed assets Fixed assets are stated at (x)st less a(tymul8led depAa1In. Fixed assets a rx)st below £1,000 are not capttalised. Depreciation is charged so as to allcute rnst of assets less their residual value over their estimated useful lives. DeFxeciation is provided on the following baws: Freehold Land and Buildings Improvements Fibre op Plant and machinery Motor vehicles NeOrk infrastructure Fixiures and Fith"ngs Computer equipment FirewalVSecuritylWifi - Strdight line over 50 years - Straight line over 50 years - Straight line over 25 years - Straight line over 3 years - strat line over 4 years - Straight line over 10 years - Strawjht line over 4 years - strah1 line over 3 year5 - Straight line over 5 years 2.8 Debtors Short-temi debt0 are measured at transaction price, less any impairment. Loans re1vable ar8 measured initially at fair value, net of transactM)n costs. and are measured subsequendy at amortised cost using the effe(ANe interest thod, less any impairrnent. 14
Lanier Theological Education Foundation Notes lo the Financial Statements For the Year Ended 31 December 2025 Accounting policies (continued) 2.9 Cash and cash equ6valents Cash is represerrted by sh in haTrJ and depostis financial institulions repayable withoul penalty on nolic£ of not m(e than 24 hours. Cash equivalents are highly liquid investmerts that mature in no more than three months from the date of acquisiti.on and that are readily converh.ble to known amounts of cash with insignificant risk of thange in value. 2.10 Creditors Short-term ¢xedrtiKs are measured at the transaclion pri. Oth8r financ1 liabilities. induding bank loans, are measured initi'ally al fair value, nel of trdnsaclion co&s. aNJ are measured subsequently al amoTb'5ed Ixjst using the effe(the interest methrxl. 2.11 Flnancial instruments The Charity onty has financial assets and Ila.111[eS of a knnd that qualfy as basic finanryal instruments. Basic financial inslruments are initi.ally recagnised at transaction value and subsequenuy measured at Iheir setuement Yalue. Judgements In applylng accounllng polklos and key sourGes of estimation uncertainty In the appIltiOn of the charitable (x)wnYs &)nb.ng lIes, Ihe Trustees are required to make judgemenls. estimates and assumptions aLt the carrying amwnts of assets and liabilities that are Th)t readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other fa¢tors that are considered to be relevant. Actual results may differ from these ests"males. The estirrotes and underfying a&sumptiS afP revie on an ryir#J basis. Revisio$ lo accounting estimates are recognised in the period in which the estimate is revised rf the revision affects only that period, or in the year ofthe revision and fUTr perS ifthe revision affects both current and future penods. There were no judgement or matenal estimalion uncertainties affecbng the reported financial perfonnance in the GUTrent year other than depreryalion of fixed assets fc41wng policy 2.10 above. 15
Lanier Theological Education Foundatlon Notes to the Financial Statements For the Year Ended 31 Dgcember 2025 Grnnts Ye1¥able Year ended 31 tyecember 2025 Year ended 31 December 2024 UTrrestrlcted Re5trirted Total Unrestricted Restricted Totsl Fuds Funds Funds Funds LanigrTheologlcal Ubrary Foundatlon Grants Refurbishments and operations 5.365,688 5,365,688 6.190,975 6.190,975 Charltable expenditure- Yarnton Manor Costs and donatlons to similar charities The follcwirs tsble Yelates to the year ended 31 Dmber 2025: Charitable Governance Costs Support Costs Total Staff costs Inote 71 Legal fees Faallties Exthange rats differencEs Travel and entertainment 657,324 657,324 64.559 1.686,032 (17.539) 4,020 182,030 64.559 1.686.032 (17.539) 4.020 182.030 7.353 Donations other Audit fees OutsourcirwJ and other advp 13.800 13.800 35,962 35.962 2,519.220 78.359 35,962 2,633.541 Charitsble expendliure-yamton Manor Costs and donatlon5 to similar ¢haritles (continued) 16
Lanier Theological Education Foundation N¢)tss to the Financial Statements For the Year Ended 31 December 2025 The followThJ table relates to the year ended 310ecember 2024: Charltable Governanc• Support Expenses Costs Costs Total Staff costs (note 7) Legal fees Facilities Exchange rate drfferences Travel and entertainment DonatN)ns other Audit fees Outsourcing and other advice 405.868 405.868 59.474 1,693.850 114.3061 11.156 191.180 2,602 12,300 101,554 59.474 1,693.850 (14.306) 11.156 191.180 2.E4)2 12.300 101,554 2.290,350 71,774 101,554 2,463,678 Audltofs remuneration During the year. the Charty cthined the folk)wiThJ servw fnjm the chari5 auditor. 2025 2024 Fees paY3te fLY the audit crf the Charivs annual financial slaielyts 13.8(Kl 12.3(X) other fee5 951 4,569 14,751 16,869 17
Lanier Theological Education Foundation Notes to the Flnanclal Statements For the Year Ended 31 Dernber 2025 Employees 2025 2024 Wages and salanes 595,105 373,329 ial security costs 47,359 23,516 Defined CnInbUl10n pension scheme 14 9,023 657.324 405.868 The average monthly number of employees during the year was 12 (2024- 9). No salaries were paid to TTUStees. The key management pSonnel in the year were Dawd Fleming and Bevedy Fleming, employees of the foundation. The key management personnel MuneratIon for the year lolalled £95,004 (2024- £111.435). Two people were paid betsveen £70.0- £80.C(tl in the year {2024-Iwo paid bfjeen £60.000- £70000). Taxation The Charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or seth.on 256 of the Taxation of Chargeable Gains Act 1992 to the extent that Ihese are apled to rts charitable objects. 18
Lanier Theological Education Foundation Notes to the Financlal Slatements For the Year End 31 December 2025 10. Debtors: amounts falling due wtthin one year 2025 2024 Accounts Re1vable 4,450 3,686 Amounts owed by group undertakings other debtors 4,430 Prepayments and accyued income 76.257 152.927 35.137 156.613 Amounts owed by grwp undertakings are unser[. repayable on dernar and inteTest free. 11. Cash and cash equivalents 2025 2024 Cash at bank and in harKI 162,973 914,708 12. Cr•dftors: amounts falling du8 within one yr 2025 2024 Trade creditors 65,035 111,660 Other taxation and social secwty 21.408 19.667 6.590 2.272 Accruals & deferred irrne 190.360 90.130 283.393 223,729
Lanier Theological Education Foundation Notes to the Flnancial Ststgmgnts For the Year Ended 31 December 2025 13. Stslement of funds Balance at 31 December 2025 Balance at 1 January 2025 Income Expendituro Unrestricted fvnds 6.182.275 5,473.146 12.418,500) (215.041) 12.633,541) 9,236.921 Restricted funds 18,435,074 18,220,033 24.617.349 5.473.146 27.456,954 Balance at 31 December 2024 Balance at 1 January 2024 Incomg Expendlture Unrestricted funds 2.161.677 6.293,721 12.273.123) 6.182,275 Restricted funds 18,625,626 {190,552) 18,435.074 20.787.303 6,293.721 2,463,678 24,617,349 Thg restrirted funds rete to fvrth.ng the establi%hment and rna1ntenan of a thedogical library 14. Analysls of not assets betn funds Al 31 December 2025 Unrestricted Rgstrbcted Net current assets 135.283) {35,283) 27,492,237 Tangible fixed assets 9.272,204 18.220.033 9.236.921 18,220.033 27,456.954 21
Lanler Theological Education Foundation Notes to the Flnanclal Ststements For the Year Ended 31 December 202S At 31 December 2024 Restricted Nel currerrt assets 847,592 847,592 Tangible fixed assets 5.334,680 18.435,074 23,769,754 6,182.272 18.435.074 24,617.346 15. Commltsnents under operallng leasgs The Charty leases out land al Yamton Manor under a nOn<aftlIable operating lease for the following future minimum lease payments. There are no contingenl rents. 2025 2024 3,028 3,028 Not tater than 1 year Later than 1 year and not later than 5 y$ 3,028 3,028 16. Related party transactlons During the year, Ihe foundatNJn 1Ved grants and donations totalling £5.365.688 12024 - £6,190,975} from Lanier Theologi(31 Library FourKLgbon: a charity based in Texas. USAofwhich B Lanier and M Lanier are common trustees (see note 41. 17. Lease commitments The fr)undation ha5 a commiknent uThler an OFw*yng lease for £1.8 per annum which expires in 2030. 18. Capltsl Commitments There were no capital commitments atthe year end.