STB NIF ARMIN formerly known as St Bonlface College Charfty Reglstratlon Number 309500 PT TNstees' Annual Report Independent Examlnerfs Report Recelpts and Payments Account Statement of Assets and Llabllltles For tnjstees, use only Notes to the Accounts CHART ANTS
WARMIN ER TRUSTEES. REP The Trustees present thelr report along wlth the flnanclal statements of the Charlty for the year ended 30 September 2025. LEGAL sfATUS The Trust Is reglstered Charity number 309500. It was establlshed under an Indenture dated 23 July 1913, a5 amended by a Charlty Commlsslon scheme dated 7 January 2004. Thi5 scheme was replaced by a scheme datsd 6 July 2012 and a Deed of Revocatlon and New Declaratlon of Trust dated 9 July 2012. MEMBERS OF THE COUNCIL AND TRUSTEES EX OFFICIO: The Archdeacon of Sarum * The Rector of St Denys, Warmlnster The Ven Alan Jeans Iretlred 3110712025) Rev Susan Foster NOMINATED.. The Bishop of Ramsbury (by the Bishop of Salisbury} The Rt. Revd Dr Andrew Rumsey (appointed January 2019 and reappolnted 14 March 20241 CO-OPTATIVE., * Rev R Davles re-eleded # Rev E J Perry re-elected * Rev Preb P Rapsey re-elected ( Appointed Chairman from 9104124 to 23103126) (nomlnated Vlce Chairman from 22103121 and Actlng Chalrman from 25110123) * Rev Canon A G Watts re-elected 29103122 resigned 08104125 Rev J Wlllard re-elected 28/03123 resigned 08104125 Rev I Zass-ogllvle re-elected 28103123 resigned 23103126 # Mr G Tabeart appolnted 08104125 ( Appobnted Chaiman and Standlng commlttee Chalrman from 23103126) * MrG Chappell appointed 08/04125 * Mr A Alder50n appolnted 23/03126 Rev D Prescott appolnted 23103126 Mr S Waddlngton appolnted 23103126 09104124 resigned 23103126 28/03123 resigned 23103126 28103123 resigned 23103126 Standing Committee member, # -standing Committee chalrman) CUSTODIAN TRusfEE'. The Salisbury Diocesan Board of Flnance, Church House, Crane Street, Sallsbury SPI 2QB PRINCIPAL OFFICER: Mr D Prior Secretary ADDRESS: 4 Cley Vlew, Warmlnster, Wllts, BA12 8NS ADVISERS: Bankers Solicitors Independent Examiner Lloyds Bank Plc, 64 Fore Street, Trowbridge, BA14 8EU Farnfields, 37 High Street, Warminster, BA12 9AJ Mr5 N A Halls, Fletcher & Partner5, Crown Chambers, Brldge Street, Sallsbury SPI 2LZ Cooper & Tanner, 48150 Market Pla, Warmlnster. BA12 9AN Charles Stanley & Co, 55 Bishopsgate, London, EC2N 3AS Charles Mark Flnancbal Ltd, 43 Bluebell Drbve, Stanstead CM24 8XP Surveyors Investment Advlsers to 30.9.25 Investment Advlsers from l. 10.25 OBJECTS The objetts are deflned a5 'to apply the trust property for such charltable purpose5 as shall advance the Christlan religion in accordance with the prlndples of the Anglican falth. for the publlc beneflt In all parts of the world and in particular by the provision of education and training of priests and lay people of the Anglican Communlon by the award of scholarships and maintenance allowances."
STB NI TRUST Pa USTEES, nu POLICIES st Bonlface College In Warmlnster ceased to traln priests in 1969 and the freehold property 15 now leased to provlde Income for the charity. The rent and other Income from Investments provide funds for making grants to Indlvlduals and Institutlons in accordan with the objects. Until merged on 17 June 1996 the Charlty also admlnistered varlous sub51dlary Charltles whlch have been put under Its control by Charlty Commisslon Schemes of 9 January 1980 and 19 June 1981. ORGANISATION The Charity Is operated by a Councll, whlch meets once a year, and a Standlng Committee of seven which meets up to four times a year to consider grant applicatlons and matter5 quIrIng attentlon durlng the year, partlcularty the malntenance of the school property. The Secretary deals with the day to day admlnlstratlon of the Charlty on behalf of the Trustees. Co-optatlve members of the Councll are appointed for terms of the years and vacancies are fllled by personal recommendatlon. New trustees""are""Inducted and" trnined by the" . Secretarytr the Chairman and the Chairman of the Standing Comrnittee. A Nomlnated Trustee was appolnted by the Blshop of Sallsbury for a term of three years from March 2024 and I new member of the Standing Committee was co-opted in July 2025 and wlll be appolnted a5 Trustee at the 2026 annual meetlng. At the October 2025 meetlng of the Standing Commlttee, Revd. Preb. P Rap5ey, Chalrman of both the Councll and Standing Commlttee expressed hls Intentlon to stand down as chairman of both at the 2026 AGM and It wa5 agreed that Mr George Tabeart assume responslblllty as Chalrman of the Standlng Commlttee forthwlth and be nominated as Council Chalrman at the AGM. INVESTMENT POWERS AND POLICY The Tru5tee5' powers of investment are as set out In the Trustee Act 2000 which came Into force on I February 2001. The Trustees alm to maintain and enhance the real value of the twst's assets over the long tenn. The freehold land and bulldlngs are leased to provide rental Income arbd the remalnlng funds are Invested to supplement the Charlty's Sncome and seek some capltal growth over the long term. GRANT-MAKXNG POLICY Although applications from overseas Indlvlduals were Stopped 2 years ago, slnce then the number of overseas grant requests has Increased conslderably especially from diocesan Blshops resultlng In the Trusts, ablllty to only be able to support a small mlnorfty and thus dlsappointing the majority. The Standlng Committee has therefore declded to Stop fundlng requests vla overseas blshops and Indlvlduals and SLJPPOrt co51eges direct wlth block grants and leave it to them who 15 most worthy of support. A Ilst of theologlcal tralnlng establishments In UK and those overseas unlverslties and colleges that have been 5UPPOrted In recent year5 15 belng drawn up and support wlll be given on a rota basls. Grdnts a not glven to those seeklng further degrees such a5 a Masters or Dortorate. REVIEW OF AcfiviTIES AND ACHIEVEMENTS The Standing Commlttee consldered 83 new grant appllcatlons throughout the year of whlch 30 136Wo) were approved, 53 164%) were decllned. The tgtal value of new grants awarded was £53,444 of whlch £34,426 164%) were for appllcatlons receSved from overseas . These grants range for a commltment of I to 3 years and were given to Bunjndl, Uganda, The Democratlc Republlc of Congo, South Sudan and Kenya. The total value of grants pald In the year was £64,944 includlng further payments of grants awarded In prevlous years. £6,600 of the total was contrlbuted towards the cost of Extended Ministerfal Development Leave {sabbaticals) or study leave. Durlng the course of the year the Standlng Commlttee was concerned about the state of repalr of our historlc leased buildlngs, which requlre more attentlon and need a speclllcft professlonally managed maintenance programme In order to be kept In good condltlon by the school, Consequently the declslon was made to appolnt a buildings surveyor, Brlan Bogle, to organlse a full survey of the bulldings and to retain his serv1$ to oversee fvture MaIntenan work. The School was kept fully Infomied
EES. ED30 YEA PUBLIC BENEFIT sfATEMENT The trustees confirTn that they have complled with thelr duty to have due regard to the guidance on public benefit published by the Chartty Commission In exerrisin9 thelr powers or duties. REVIEW OV TRANSACTIONS AND VINANCIAL POSrnON The Stsnding Commlttee revlewed the dlsappolnting performance of the Investments and after taklng adv1 from Charfes Mark Flnanclal Ltd, a flnancial advlser, the trust has appolnted a new Investment manager from l October 2025. In order to establlsh a known value of Investment Income over the course of the coming year it was agreed that fixed quarterly payments are to be drawn down from the investments In future. The Trust reIVed Income of £93,374 durlng the year, comprtslng rent of £65,000, Investment income of £27.950, bank Interest of £154, a donatlon of £50 and sale proceeds of vestrnents of £220. A further annual Instalment of £4,000 from the sale of the playlng flelds tr) the school In 2004 was recelved. The Trust's Investment advlsors, Chartes stanley & Co sold Investrnents produclng sale proceeds of £201,425, from whlth their management fees were deducted of £6,462, and £117,399 was used In purchase new investments. Payments totalled £128.509 of which £64,944 was spent on grants. The cost af all Survey work, as described above, was £46,984. At the year end, the Trust's freehold Investment propeFty. Indudlng the Lodge. had a book value of £2,000,000 and the other Investfnents, exdudlng vnlnvested capltsl cash, had a market value of £749,089. RESERVES POUCY The Charity holds £2,762,391 as unrestricted SeNeS, of whtch £2,685,368 reprtsents property and investments arKI £40,000 Is owed to the charlty over 10 years. The tnjst fund Is treated as held for the long term to prodLbce Income for the therlty's grant -making objectlve. The Trustees do nrt hold reseNes, as funds are dlstrlbuted as grants throughout the year. They would vlew any balance of fvnds as deslgnated for emergency repalrs to the bulldlngs owned by the Charity and to cover nom)al wortlng capltal requlrements. The TNstees con51der the financlal position of the Trust to be 5atlsfactory an conflrm that the accounts comply wlth the Charfty Commlsslon guldance and wlth the Charfty's govemlng document. Signed on behalf of the Trustees David Prlor Approved by the Trustees on . 23 Marth 2026
Page 4 ST BONIFACE TR WARMINSTER I report to the trustees on my examlnatlon of the accounts of the St Boniface Trust (the Trust) for the year ended 30 September 2025. Responsibilities and bas18 of report As the charlty trustees of the Trust you are responslble for the preparatlon of the accounts in accordance wSth the reqU1MentS of the Charlties Att 2011 ('the Act.). I report In respett of my examlnatton of the Ttwst's accounts carrfed out under sectlon 145 of the 2011 Art and In carrylng out my examlnatlon I have followed all the appllcable DIrtIOnS glven by the Chaty Commlsslon under sectlon 145(5)Ibl of the Act. Independent examlner's statement I have completed my examlnatlon. I conflmi that no materlal matters have come to my attentlon In connectlon wlth the examlnatlon glvlng me cause to belleve that In any materlal respect.. accountlng records We not kept in respect of the Trust as required by section 130 of the Act. or the accounts do not accord wlth those records. I have no concerns and have come acr055 no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. Name.. Nlcola A Halls Relevant profe$51onal quallflcatton or membershlp of professlonal body Ilf any).. FCA Address: Sallsbury Date: 20 Aprfl 2026
IFA Pa FOR THE YEAR EN RECEIPTS Donat10, legacles and other SIMIr recelpts Rental frotn Investment propert5 other Investment income Bank Intert Sundry Income 50 65,000 26,079 154 220 50 65,000 27,950 154 220 65,000 30,835 1,871 91,503 1,871 93,374 95,879 ASSEY AND INVESTMENT SALES, ETC Sale of land - annual deferred instalment Sale of investments 4,000 201 425 4,000 201 425 4,000 TOTAL RECEIPTS 296,928 1,871 298,799 196,992 PAYMENTS Grants paid (net of refund51 Restrlcted Grants pald {Poole Exhlbition fund) Secretary's honorarlum Trustees, and secretary'5 expenses Bank charges Accountancy fees Independent Examlnatlon Investsnent tnanagement charges and LEI fees Website expense5 Minster donatlon Legal and professional Sundry expenses Exp•ndltur* sultOtal 64,944 64,944 2,598 3,500 533 285 1,884 865 6,462 204 250 46,984 99,791 2,967 3,500 520 510 1,816 824 6,407 192 250 2,598 3,500 533 285 1,884 865 6,462 204 250 46,984 34 125,911 2,598 128,509 116,811 ASSET AND INVESTMENT PURCHASES Purchase of inve%tments Inet of equallsatlonl 117 399 117 399 TOTAL PAYMENTS: 243 310 245 908 206 960 NET RECEIPTS / (PAYMENTS) FOR THE YEAR TRANSFERS BETWEEN FUNDS 53,618 {7271 52,891 (9,9681 CASH FUNDS AT 30 SEPTEMBER 2024 CASH FUNDS AT 30 SEPTEMBER 2025 £61959 Approved t)y the CouThcll on: 13 and slgn d on thelr behalf b Trustee Trustee
RMIN NDLr HE Current Attount CBF Church of England Deposlt Fund Cash held at Charles Stanley Irapltall Cash held at Charfes Stanley Ilncomel Total Cash Funds 9,399.21 1,000.00 49,676.42 3.660.09 1,000.00 1,963.18 2 445.71 £6L 959.62 £9 068.98 ER RY Due after more than one year Deferd sale proceed5 of land £4000 p.a. due over 9 years to 2034 36,000.00 40,000.00 ue wlthln one year Deferred sale proceeds of lancl Prepayment- Insurance lTrvestment Income re[Vable Total Other Monetsry Assets 4,000.00 4,000.00 £40 000.00 £44 000.00 EsfME SE al Property held for tnvestrnent Purposes and belonglng to Vnrestricted Funds- Freehold Ptwerty: St Bonifa(E College bulldlngs Bonlface/Townroe Lodge £1,500,000.00 £500 000.00 £2 000 000.00 £1,500,000.00 £500 000.00 £2 000 000.00 The College bulld5ngs werE valued by Me55rs Cooper & Tanner, Chartered Surveyors on 30 September 2005 and revalued on 9 Aprll 2024 by the trustees based on the trustees, estimate of the InsuranTr valuatlon. The Bon[fa Lodge was valued by SavS11s, Chartered Sukweyor5, as at 3 Aprll 2019. bl Other Inve5trnents at market value at 30 Septernber, belonglng tts: Unrestrfrt& Futids Restrfcte(l Funds 2024 685,368.18 63 720.38 737,261.60 55 981.15 £749 088.56 £793 242.75 The invfstrnents at the year end are held In the followlng categoe$ . Flxed Income112%1, UK Eoultles 123861, International Equltles 165%). The largest shareholdlng is.. Global Equltles North Arnerlcan In¢ome Trust plc 18,500 shares 65,398.00 56,610.00 CBF ChUh of England Investment Fund, 3,000 Income shares 69,570.60 bltfon Fun 16.000 5hare5 In Murray INternaOnl Trust plc and 3,465 shares in Polar Capital Technology Trust plc {Induded aLK)vel are held In the Poole Exhlbition Fund, and used for the iEnefit of the former College of the Ascenslon, Selly Oak, West Mldlands, now the Selly Oak Centre for Mlsslon Studl8s, (The Fund had prevlously been Invested in 2414 Churth of England Investment Fund units, whlch were sold In 2025.} The remaining Investments are held In the Unrestrlcted Fund.
CE TRU Pa THE YEAR ENDED Herltsge assets The chadty owns the Chapel (r05s, vestments, Salverwa and candlestlcks. The orfglnal cost of these assets Is not available. LIABI Accountancy I Independent Examlnatlon accrual Chades Stafiley - Quarterly Investment Managefflent Charges Poole Exhibltion Fund - for Selly Oak Mlsslon Centre Income recelved In advantt- rent Grants payable wlthln one yeèr Grants payable - after more than one year Total Uabllltles 2,815.00 1,570.94 I,B71.33 2,724.00 1,636.03 2,598.71 4,974.30 31,680.00 10,731.75 7 948.00 £24 937.02 £44 613.04 CTED F Poole Balance at l October 2024 Investrn2nt Income recelved Grdnts pald Unreallsed galnslllosses) on Investments Balance at 30 September 2025 Being: Recelpts and payments method Investments at market value Murray Internatlonal Trust plc 16,000 shares Polar Capltal Technology Trust plc 3,465 shares (2024: 2414 CBF Investment Fund shares) Cash at bank 58,579.86 1,871.33 {2,598.71) 7,739.23 £65,591.71 63,720.38 1,871.33 £65,59L.71 Freehd Property Investments Cash at Uoyds Bank Cash at CBF Cash at ChaHe5 Stanley {capltsl and Income) Debtors- Deferred sale proceeds of playlng field Cr<ors 2,000,000.00 685,368.18 7,527.88 1,000.00 51,560.41 40,000.00 23 065.69 2,000,000.00 737,261.60 1,061.38 1,000.00 4,408.89 44,000.00 42 014.33 £2 762 390.78 E2 745 717.54
Pa NOTE THEA AR ENDED 30 SEPTEMBER 202S l. Investment Income 2025 2024 Llsted se¢urltles Deposits 27,903.60 46.70 30,782.90 51.90 £27 950.30 £30 834.80 2. Grants P•id 2025 2024 9 grants to Institutlons (2024: 91 37 grants to individua5s (2024: 63) 23,538.71 44 003.75 27,930.00 74 828.00 £67 542.46 £102 758.00 7 General Training {UKI (2024.13) 3 Wellbelng Breaks {2024'. 1) 11 Extended MlnIs¢eal Development Leave 12024'.181 Books {2024: 1) 2 Poole Exhlbltlon Fund (2024'.2) Overseas TraSnlng - Proactlve {2024'. 3) 24 Overseas Tralning Reactive12024:36) 12 7, 133.75 1,500.00 6,600.00 loo 10,505.00 500.00 10,800.00 250.00 2,967.00 15,000.00 62 736.00 io 0% 2,598.71 3ts 15% 61% 74% 49 710.00 102% £67 542.46 loo% E102 758.00 3. Payments to Ttee Durfng the year expenses of £313 (2024 . É398.73) were 1mbr5ed to I twstee 12024.. 3 trustees). These were for travel expense5 to attend meetings. No tru5tee5 recelved any remuneratlon from the charity.