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 th￿e
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 re￿IVed 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 reqU1￿MentS 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 DI￿rtIOnS glven by the Cha￿ty
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 SIMI￿r recelpts
Rental frotn Investment propert￿5
other Investment income
Bank Inter￿t
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* sul￿tOtal
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
Defer￿d 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 catego￿e$ .
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 ChU￿h of England Investment Fund, 3,000 Income shares
69,570.60
bltfon Fun
16.000 5hare5 In Murray INterna￿On￿l 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
Freeh￿d Property
Investments
Cash at Uoyds Bank
Cash at CBF
Cash at ChaHe5 Stanley {capltsl and Income)
Debtors- Deferred sale proceeds of playlng field
Cr&ltors
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¢e￿al 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 T￿￿tee
Durfng the year expenses of £313 (2024 . É398.73) were ￿1mb￿r5ed to I twstee
12024.. 3 trustees). These were for travel expense5 to attend meetings.
No tru5tee5 recelved any remuneratlon from the charity.