SALISBURY HOUSE Registered Charity No. 526739 TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 BWM CHARTERED AccouKfANrs
SALISBURY HOUSE TRUSTEES, REPORT AND FINANCIAL STATEMEiYrs For the year ended 31 December 2022 CONTENTS Page Trustees, Report Independent Examiner's Re)rt Stat¢menl of Financial Activilies Balance Sheet 10 Not¢s to the Financial Ststements 11-18
SALISBiJRY HOUSE RKPORT OF THE TRUSTELS FOR THE YEAR EI¥DED 31 DECEMBER 2022 The Trustees PTesent their aonuai rei and fiD8ncitii ststements of the clwity for the year end 31 December 2022. The fmancial ststements have been prepared in cordCe with the accountrng policies set out in noie I to the accounts aod comply with the Charities Act 2011 and Accountin8 and Reporting by Charities: Stsmeni of Recomtnended Practice applicable to charities preparing their accounts in accordanc¢ with th¢ Filwl81 Reporting Standard 44)licable in the UK and Republic of Ireland (FRS 102) las amended for accounting periods comm¢ncing l January 2019). Reference 8Dd admiDistrAtlve Infonnadon Trustees Thc following p¢Tsons wtre Trnsttts thring the year and heid the a)mmittee or School Governor appointments indi¢atrl.. Mr J Bird Rev Andrew Cohner Mr5 L Davies Mrs J Griffiths MrsVKe R¢v H Lca-wilson Mrs W Mason Mr S McLlelland Mrs D Owen MrNPye Mr A Ramsay Mr K Swallow Mr P Woodward Trusice Ex Officio Tn Tntte Trttte Trn5tee Head T¢a¢h¢r Trusie¢ TNs(ee Presideni & Foundaiion Governor Foundation Governor Secretary & Foundaiion Governor All Trnsttts are instrncd in the practice of the TnL8t and where they are Foundation Governors of Childwo11 Church of En8land Primary School receive training &$ provided by the Livewl Edu¢&tion Authority. Prlnclpal Address The Tru%tees of Salisbury House Childwall Chur¢h of England Primary School Woolton Road Liverpool L160JD IDd¢p¢Dd¢nt EIAmlnen BWM The Tempest, Suite 5.1 12 Tithebarn Street Liverpool L2 2DT Bankers Investment Mnag¢r CCLA Senator House 85 Quecn Victoria Street London EC4V 4Er HSBC 4 Dale Strttt Liveoy)ol L69 2BZ Objectlves Dd a£tivld¢s for tb¢ pub]i¢ bettefit The Liverp1 0banage and its endowments were brought within th¢ provisions of the Salisbury House Foulldation by way of a Scheme made by the Secretary of State on I I Seplernber 1964 and varied and aN)ved by the Charity Commissioners on 3 October 1977. Th¢ Livcrwl Orphana8e wa5 0ri8illally established in the nineteenth century and later regulatoj by further 5chem¢B dated 1913 and 1925. By agreement with the Charity Commissioners the Scbeme was reorganised on 21 (ktober 1998, whereby the varii)us elldoWets were restructtwed into (l} Penna¢ EDth)wment FuDd, (2} Generni Fund 13) EdUtiOn and Prize Funds, (4) the Extraordinary Repair Funit and (5) Chapel Fund. Under the ternis of the vario$ Schemes, the TTUSteos aTe lo pennit th¢ land and buildings by the Foundation to be used &$ a Khool for girls and boys. and li is PTovided that religious i2JStn]ction coThsisteDt with the doctrines of the Church of England shall Et gtven ai the school. The Trustees are responsible for the aintenance and insurance of the property. 511)g income from the P¢rnJaneDt FndowrnenL The premises are Currently in use by th¢ Childwall ChuTch of England Primary sch1.
Structure. governaDe¢ nd man8gemettt Sa]isbury House is a registered clwity, number 526739. Nituted undcra TDJst Deed dated 21 October 1998. The eharity does noi activety fimdraise and seeks to C4Xltmue its ¢haritsble work through the careful stewardship of its existing r¢50UTCts. Key management persoiinei The Trusie¢s ¢on5ider the ix)#rd of TnletS and Presideni &$ cojnprising the key manag¢rn¢nt perSOle1 of the clwity in charge of dire¢ting and controlling the charity and ruDniDg and opeing the cFLarity on a day io day bls. All Ttumtts give of theTf lime frccly and no Trustce r¢tnuneraiton w&s paid in the year. Tnlee5 are requirnl to disclose all r¢l¢vant interests and T¢gister them with the President attd in accoTdanc¢ with the Trns¢'s wlicy withthaw from dls1on whtte a wofiici of inter¢5t arises. Trnstee dripts.0$ come under several title5: Trth, Ex Officio TnLse, Fouttdoti(Trn GovenM)r, Treasuw & Foundaiion Governor. Pffsident & Fourthtion Govern(Y. All Trusitts aye instructed in the practi of the Tn and wIe they are FO1a'0ll Governors of Childwall Chuwh of England Primary School receive tsaining as provided by the Live41 Education Authority. Development, A¢dvitiu and Aehl¢vemen(s Each of the variou% Funds has been ubed dUrll the year kn the be51 adYaDtAge attd the grants made have be¢n appreciaied Bready by the recipients. Fltsncll Revlevl Following two y¢8rs of reduced aciivity, the Tntst's a¢tivities in 2022 r¢turned to prtrpatidemi¢ levels. Th¢ Trustees werc pl¢&sed to provide Edu¢4tson Fund grdnts amounting 10 £2.13] (2021.. £nil). Th¢ Prize Fund provided £540 for leavers. 8ifts for Year 6 (2021.. £nill. and the Chapel Fw)d £596 towards visits from B Tales Christian theatre company (2021.. £nill. The Endowineni Fund exp¢nditure amounied 10 £17,804 ¢omprisin8 £6,804 itLwrance costs and £1 1,000 refithishment provide 4 Sensory room (2021.. insuranee £6,792}. Gen¢rAI expenses comprised Govemance w5ts of £1.808 (2021: £1,644) and Surv¢yoT'S fees of £2.100. The total incoming resources (or the year were £31,342 and th¢ tothl resources ¢xp¢nded amourtd to £25,041, resultmg in a surplus Ilxfore investhhent 84in&qosses) in th¢ year of £6,301. At 31 Dettmber 2022 the total funds under the Trusltts, Manement was £5,110.111 (2021: £5,506,626). Truitees. Re$ponbIlld In reldoll ¢0 the IIDnell it•temeDts The charity Trustees are reswTrnsible lor preparing a Trusiees. rert and financial ststements i accordance with applicablc law and Uniied Kitigdom Accounting Standarth (Utiiied Kingdom Gencr4lly Accepted A¢couniing Practic¢). The law applicable to chariti¢s in England and Wales Twiirts the charity Trn5tees lo prepare financial statements foreach yearwhi¢h give a uue and fair view olthestate of affairs of theeharityand of the inci>ming resources and application of rwour¢es. of the clwrity for thai peri In preparing th¢ fuwicial ststemcnt4 the Trnst¢¢s are reqU¢d to.. Select suitable Counting p)licies and apply them emsiskDtIy: observe the methods and principles of the Charities SORP: k¢ judgemen15 and c5timaies that are rewnable and prudent; slate whether applicable a¢countinB standarth have been followoj, subj#t to any material departures that rnust be disc105cd and ¢xp]ained iti the fllwKial sts*ments; prepare the fllJ4n¢ial stsiemellts on the going concern basis unlets it Is inapprwte to pre5Utlle that the charity will coniilluc in blne&s. Th¢ Tn¢S arr restKwible forkeq)ing pro accounting T¢¢oTds tbat disclo8¢ with reasonable aca]TaCy at any time the fmancial position of the charity and io enable them to crure that the financial statements comply with the Charities A¢t 2011. the applicable Charlties (Accounts and Reports) Regulation& and the pn)visions of the Trust dced. They are also rtspotLsibl¢ for safegwding the assets of the ¢lLariry and tsking reasonable st¢ps for the prevention and detectiOD of fraud and other itr¢gularities.
IDvestment pY attd perform•nc¢ The TnteeS have aligned their itivestment lIcY with that of the Charities Official Investment Fund Managers. On original itiveststtent the capital of the vaTiOUS funds were alloca. 75 /17 in Equity Units yielding gro over the long rni 25 /• in FIX Ithresi Units aimed provide a hi8b illcome yield Monies deemed to be required fOr11ths projects art p]a¢ed on deSlI with COIF and accumulated income balances are on bank dew)siL Reserves Poll¢y The Extr40rdinary Repair Fund reserve is Tequirvj meet the Truste¢s' wntributi¢)n to n¢w building costs. Depending upon Government Policy ai the time the Trustees wnsideT a requiTed contribution by them of I/ of rep]acement building costs to be a re&qonable tsrg¢t. The Trnstees end¢8vour ¢0 distribu¢e the accumulad income within the restricted fujth and se¢k to make known th¢ av4ilability of the grants. Fitwlly, th¢ General Fund reserves are held at a level to the on80ing odministration of the Trust together with anticipated supplements to the other funds. Rl8k mmnigement The Trusttts review th¢ major risks #i tri-annual meetings and have established systems to minimise th¢5¢ Retrultmettt of tW TrD$te¢s Rccrnitm¢nl of Trustees is carried oul ¢0 apInt In in keepiD8 with th¢ Ixst in¢¢r¢$ts of the TnLSt. N¢w Tru8t¢¢s are re¢ruiied on the basis of their PrOf$10al skills and work ¢xp¢rien¢e. PrOSptive Tru$tce5 are approached if they have a pro(e&8iottal skill or rclevaDI willk expeneD, that the TNstee5 believe would benefit the Truse b)ard. or if a new Trnstre is requiTvJ to replarx a TTU5tee with a particular profe10n or skill. TrAlnln8 Upon appointmeni, new Twsitts are provided with A fil¢ of InfOrntion on the history of the Trusi and its sponsibililies towards the school. Safeguardlng Tte¢S should keep Utrate with safeBuarditi8 ¢h¥ng¢s in line with thl govwnoT Iraining. Ttee$ do not require DBS checks to be made as they (lo noi perforni any regulad aciivity with adults or chikn. Nevertheltts. whert Tn]stees hold governor posiuons with Childwall Chureh of Ell8land Primary SclKK)l. they are requircd to have a DBS chk carried oui through sch] proce&8es and read and sign acknowledgemeni of tbe 1(K)I,5 Safeguarding Policy. Non-DBS4hecked Tru5tee5 wbo are i)n school premises where pupils are still preseni mus( k¢ sll that they are accompall al all times by 4 member of %hool ststr. OrDBheckCd Tne. Open 8Dd Posltlve Culture The Trusl promotes a fair, open and positive cultUTe. All Tnjstees are able to report concerns, confident that Ihey will be heard and responded to. Concern should be wed to the Secretary of thc TTUSt ID ¢onfidence for inv¢stigation by # quonun of Tne¢s, indeFtthi of the concern rnised. Phn8 for the futu Th¢ Trustees will continue to provide the premises for Childwall Church of England Primary School and ' particular a¢cumulate a resource towards the replacement of the building. They will continue to support pupi15 and fornier pupils in theirpersonal and academic development atKI achievements through awards and
Publie Benefit The charity's Trustees have complied with the thity ill secti(m 17(5) of the Cl)aTitsts Act 2011 to have due regard to public beD¢fii guidance published by the Cbarity Commi&%ion. On behalf of the Tn NPye President 29 February 2024
INDEPENDENT ELIMIYER'S REPORT TO THE TRUSTEES OF SALISBURY IIOUSE TRUST I report to the Tnttts on my examillati of the of SailsY House (the cltarity) for the year ended 31 December 2022. This report is made solely the ¢hariWs TnLSteu. as a iK)dy. in accordan¢¢ with Sedion 145 of the Chariti¢S Ae¢ 2011. My ex8minaiiort has beell undenaken so I mi8hi the ctrwitys Tnlee5 those matters l am required sthtr them in lThpenthni Examinels rem and for no cthr purFw. To the fullest tellI pernl1ttj by ]4w. I do not a¢c¢pt r¢5wTrih"ty to attyrnt other than the ¢hm'ty #Thl the TnMees u A W. formy examinaiioo for this repoo or for the opiniotLS I bave f(KTred. Re4)on8lbllltltt And bAdi of report As. the Trustees of the charity you re4KThl>le foT the prew•tiM of the in x¢ordan¢¢ with the requirements of the Charities Aci 2011 (the 2011 A). J rort in resp¢¢¢ of my ¢xaminAtion of the chariry's accounis carried out under section 145 of the 2011 Act. In carryinB oui my examination I have followed all th¢ applicable Dire¢¢ions given by the Charity Commi56ion under 8Ktion 145(5)(b) of the 2011 A¢¢. Independent ex•mlMr'i Ilalemeni Your4ttention is drJwT tothe f¥t thai thechan.ty b&sprtpartd gecounts xrt xcordance with Accouniin8 and Reportin8 by Charitias Prepari their IOUnts in accordance with the Finnncial Repffiing Standard appli¢abl¢ in th¢ UK and Republic of lrtland (FRS 102) in preference the Accountin8 and Reportin8 by Chariiies.. StameDI ol Recommended Practice IBSed on l Al1 21KJ5 which 15 reNTell in the exthnl rwlatiow bui Iw now be¢) wittrthwn. l ueTSnd that this has been don¢ in order for OUnts to provid¢ 4 tru¢ and fair vi¢w in aOrd¢¢ with G¢nerally Accepted Accoun¢in8 Praciice effecuve for rewtil pericds beginning on OT after l January 2015. I have compled my examinaiion. I confmn th no m8tteT5 have come th my attettti iti ¢onnection with the ¢xwllitiati ¥ivinR ¢Au8e to keheve io matrrI Tew: (Mthliti8 were DQI kw ID respeci of the cbrity K required by I100 130 of the 2011 ACL. (Y the accounts &> eomply with the appllcable requirements concerntnB the forni and conieni of accounts Sel out in the Ch#Titi¢5 IA¢¢ounts and Rewrt5) Regulations 28 other thon any requimnent that the accounts 8ive true and fair view which 15 Ilot a matter coLsider¢d &5 part of an tndepcndent ex8mination. I have no concenLS and have come acro no other nutkrs in connection with the ex8miDalioD lo which attenlion should be dTrwD ID this rryK¢ ift ordex to enable i pr(w of the VLou kn be reached Mr Tony StleY ACA BWM Chartered Attount¥rtts The Tempest. Suite 5.1 12 Tithebarn Stree¢ Livery)ool L2 2DT Dated.. 0110312024
SALISBURY HOUSE STATEMENT OF FINANCIAL ACmqT For the year ended 31 DeCber 2022 IY•te Unrestrleted Endoiwment ReBtrleted Designated Fund FuDds Funds Futtds Total 2022 Total 2021 Ineome #Dd endowments Illvestment income Total lll¢ome 29 84 ExpeDdlture Expelldlture on tharltable aetlvlll Education Other expelldllurt 3.267 3267 21.774 17.804 Total Expendlture 3,970 17,804 3.267 25,041 8,441 Net (lo*scs)Igalng on Inve8tmetyts Net (losses)IRaln5 fixfd 4$gets (24,785) (68.) {21,3981 270 925 (16.804) (131,891) 270 925 121.368 Net (exp¢ndllureylncome (22,756) (341,756) (19.714) (12,289) (396,515) 142,211 Fundi at l Janry 2022 312 087 4 746 191 218 848 5 506626 5 304 415 Funds at JI Deeember 2(122 15 289.331 4 404 435 206559 5110111 5506626
SALISBURY HOUSE COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIFS For the yvdr ended 31 December 2021 Note UDrestri¢¢ed EDd0ent Rutrlcted De8lgnated Fwhd Fun Funds Tot 2021 Intome #nd endowrnents Investment income 15 76 TO1 th¢otyhe 15 76 Expendlture Other expeTKliture Total ExpeDdltre 1.649 6.792 8,441 Net (louesygaltts OD IDve•tmeDts 121368 Net In¢ome/expenditure 21,786 75.991 23,712 20.722 142,211 Funds at l Jilluary 21121 290.301 4 670.2(KI 205 788 198 126 5.364.415 Fundj at 31 December 2021 15 312087 4 746 191 218 848 5 $06.626
SALISBURY HOUSE BALth'CE SHEET Ai 31 2022 Note UDrestrleted Endowment Restrltted DeslgDated Fund Fwids FuDd$ Funds Total 2022 Total 2021 TAngible Flxed knsets Ld & Building8 Investments 3.815.(KK) 521365 3.815,0 4.085.925 994 453 1.126.344 185 137 185 137 4 336 365 127 346 4 809.453 5 212 69 CrreDt Asseli Bank 108.102 108 102 323 436 323 436 301095 79.213 Current U#bllltle5 CTeditors 10 Net Current AMet8 79.?13 300 658 294 357 Total amets les• eurrent Il*bllltl 289331 4.404 435 206559 5 110111 5506626 Tbt Fund> of the Charlty: Unrestytcied Funds Endowment Funds Restrieted Funds Designated Funds Revaluation Reserve Total eharlty fuDd5 289,331 289,331 312,087 2,085,748 2.156,579 209,786 229,500 206.559 218,848 2 318 687 2 589612 206559 5 110111 5506626 12 13 14 8,12 15 2,085,748 209.786 206,559 2318687 4,404.435 289 331 The notes hi pages 1 I to 18 forn) part of these accamts. Approved by the Trustees on 29 Febnw 2024 and signed on their behalf by." NPye Pttsident
SALISBURY HOUSE NOTES TO THE FINANCL4L STA TEAIENTS For the year ended 31 Dember 2022 l. Aeeounthit Poll¢l Baol8 ofpreparatlon and aswsment of gokng eonttrn The accounts {finan¢ial sthtements) have been prepored under the historical wst ¢onv¢nlion with items Tecognised at cosi or transaction •Aiue wd¢ss oth¢rwi8e ststed in the relevant note(s) to these accounts. The financial stht¢m¢nts have been prepared in accordance with the Sthtement of Reco8nised Practice.. Accounting and RewTting by Charities ptrparin8 their aecounts in accord with the Financial Reponing Standard aN)lieable iti the UK And Rq)ubli¢ of Ireland (FRS102) i$5ued on 16 July 2021 and the Financkal Reporting StwKlard applicable in the Uniied Kingdom and Republic of Ireland {FRS102). Bulletin I and 2 published in 2022 and the Charities Act 2011. Th¢ truste¢y ¢oDsid¢r tha¢ the¥e are DO Materi UncertlIeS about the Tn1.8 4bility to on¢inue as a going concern. The accounts are prwed in slerling. whi¢h ts the fictional cumcy of the SL Monetary amounts in thes¢ fllwcial sl4tements are Tounded io the neare £. The accounts have departed from the Clwities IAw)UDts Jnd Rep)rts) Regulations 28 only io the exieni required provide a true and fair view. This depare has involved followin8 the Statement of Recotnm¢nded Pwtice for chariiies applying FRS 102 rather than the Yersion of the Statement of Recomm¢n¢kd Practsce which is referral io in the Re8ulations but which has $iti¢¢ be¢n withdrawTh The Charity has thken advanthge ofthe provisioL% in the SORP for ChaTiti¢s wlying FRS 102 Update Bulleiin I noi prepare a Sta(em¢nt of C¥sh Flows. Intome reeogttltlott All income will be rec08n1s once the I$ eotid¢meni ¢he income. it is probable th81 th¢ income will be received and the amowit of iticome wivoble Can be m¢Ured T¢li4bly. Interesi on fimds held on dep)sil 1$ Tluded when receivable and the amount Can be measured reliably by th¢ trwst; this is nornially upon nouficauon of the interest ld or payabl¢ by th¢ bonk or inY¢stsn¢D¢ Manager. Expendlture reeogDffitloD Liabiliiies are reco8nised as expenditure s(KTrn as there is legal or cc)stsiJctive obligation committin8 the charity io that ¢XF¢ndilure, it 15 probable that settlement will be required and the amouttt of the obligation wi be me45ured reliably. All expenditure is aCcoUnd for on 8n accrua15 b&sis. All exp¢ns¢s including govemanrx costs are all(¢aied or apportioned to the applicabl¢ ¢XFai'ture headings. Grants pable are payments made to ¢u1 OT forn]erpupils in f)¢]81 need to enable them to fither their ethication, or priz¢s awarded io current pupils for attainment Èn Some are4 e.8. atteThlw. GTynts ¥re once the Tecipient h&s been notified of the 8THnt b) d} Grant maklng PDIICY The trust bas established its gTrDi making Folicy to achieve its objects for the public FLDefiL Irrefoverlble VAT Ittecovetable VAT is charged agaiLst th¢ ex1lture heJing for whKh it was iticurred. Alltion of 511PPOrt and governance Costs Governance costs comprise au costs involving the public aCUntabl'ty of the charity and Its compliaTKe with regulation and gixxl practice. Thes¢ costs include cosrs related to ndeF¢ndent examitiatioll alld legal fees together with an apFA)rlionmettt of ovetheads.
SALISBURY HOUSE NOT TO THE FINANCL4L STA TEMENIS For the yehrended 31 December 2022 Ch4ritible aetlvAtI Costs of charitsble xtivities iti¢lude Dude. Bovernaiiee ¢osts and other Televani ¢xpenditUTe. Fixed ayset IDvestmeDts h) Investments are a form of basic fmancial inStruTDenl and are initially rognised at their traTtsa¢tion value and subsequendy meawred ai their fair value as at the balyn¢e sheei da Using the closing quod market pri¢¢. The sthtemeni of fmAncial activities inchth the net gaiThs and losses arising OD revaiwition and disposals througlK)ut thc year. The main fom of rUwlaY risk faced by th¢ ¢lwity is that of volalility iti equity mathts alld investment nwkets due wider e¢onomic coTrJiiions. the attitude of inv¢stors io investment risk. and clwes iti senliment concerniii8 equititt #nd within panicular secto OT Sub sectors. i) Impalrment of fixed •Meti At each Teponn]8 end do. the charity rtviews the earryitig amounts of its ian8ible a&sets to detemiine whetheT th¢r¢ is any indication that thosc &ss¢ts have suffeToJ an impaimienl loss. If any such irtdicaiion exists, the rrLovernble amounl of the as5ei is esiimaied in ord¢r lo detrmiine th¢ ¢xtenl of the impairnTht10&4 lif Y). Lnd and bvlldSnv The property ai wool RO LiverNM)I, is capitslised ai valuation. Reallxd galni and IoM¢• All 8ains and lows aTe taken io the Statemertt of Financial Aciiviiies as they aris¢. R¢alised 8ains and loss¢s on inv&stments are calculated as the difference betwttn sales prIX5 and their opening cyrying value or their purchLS¢ vaEue if acquired subsequeni to the fwsi day of the fuwici41 year. Unrealised 88iLs and 1055¢$ are calculad as the differ¢we b¢lween the fair value at the year end and their carying value. Realised and UllT¢4lisj invesen[ gains and 1095es are combined iti the Statement of Financial ActivitlCS. Txtlon J) k) i) Salisbury HOUK is a Te81sred clwity and is g¢ner4Uy exempt from taxation. Reitrif led fundi Restricted funds are used for the purposts SPlfied by the donor. Expenditiire whi¢h meets the Criteria is identified io the fill. urestric1¢d funds Unrestricted funth are doJ]atioJL8 and any other iticome re1v OT genetBted for the obJts of the charity without further wified Purp and ar¢ available as separnte funds. DesigTr•¢¢d fuDd The designate fid holds earniarked ffesourcts towards the developmeni and replacemenl of the premises. A transfer of costs and fimdillg is made wh¢n delopMents in pro8ress ar¢ completed and fully fund¢d by the contributsng partits. Gratttl rff¢lv¢d p) Grants received tOW8rds eXpendIne on the I1]ding are included in the financial 5tstements when reeeivwL q) Elldowment funds Incoming resources from endowment aT¢ restricte FtD4nriai iDStrumeDts The charity elecied 10 the provisions of SLXtion I I 'Basic Financial Instruments, and Section 12 '0ther Financial IrUments Issucs, of FRS 102 to all of its fllwicial 12-
SALISBiJRY HOUSE IYOTES 7¥) THE FINANCL4L STA TEMENTS For the year end 31 December 2022 Fitt1#1 instruments are rwised in the C?lIS bal8ne¢ sb¢¢t when th¢ ¢harity b0c8 party to th¢ ¢ontra¢tual provisions of the instrumL Financial assets and liabilities 4ff off¢ with the net amounts presented in the financial statements, when there is a legally enfoT¢eable right to set off th¢ r¢cogni5¢d amounts and there is int¢ntsoD to settle on a net basis or to reali8e the &sset aDd settle th¢ liability siMlne0Uly. Basic finaTrclaJ assets B&si¢ fuwi¢ial &ssets, which include debrS and and bank balances, are initially measured at traAsaction Pri including transaciion costs and are subsequently carried at amortised CO usm8 the effectiv¢ interest method unless the arranEemeAi consi1leS A rJnan¢tng transaction, where the transaction is me&sur¢d ai the present value of the future rec¢ipts discounted at a mthei rate of intere. Finaneial cl&ssificd rc]vable within on¢ ye4r are no¢ atnortisvj. BA$1¢ flnlnclal In•trMments Basic flnancial liabilities, in¢luding Credito and bank loans are illitially recogtiiwl at transaciion price Unle the wrangem¢DI wnstilutes a fujancing transaction. where the debt instnunent is measured ai the present value of the future re¢¢ipts discoun¢d at a markei rate of interes¢. Financial liabilities classified as payable within one year are not amortised. Ikbt instrumenls are subsequently caffied ai amortised cos4 using the eff¢¢tiv¢ interest rate method. Trnde ¢reditOT5 are obligations to pay for 8(MyJs or servtces that have be¢n t¢quired in the ordinary course of operations fTom suppli¢rs. Amounts payable are classified as currertt liabilities if paent is due within one year or le&s. lrnot. they ¥re pr¢nI as non-CLirreDI liabilities. Trdd¢ ¢r¥Jitor5 ar¢ recognised initially ai transaction price and subsequently me&sured at amortised cosi usitig the efftttiye interest m¢th¢xl. Derecogntdon of IlnaDel#l Ilabllltlej Financial liabilities are derecogni.sed wIll the charity's eorttra¢tual obligatsoDs expire or are dischar8cd or 11¢d. Crltlcal aeeouDtln8 estlmtd nd Jlldgements In the aFylication of the charity's accouniing 11¢1¢$, the Tntstees are required rnake jud8ements, cslimate5 and wurnplions about the CalD8 amoulli of &ssets and liabiliti¢s thal are not readily appareni fn)m other sources. The esiimates and a550ciated SumptiOnS are b&sed on historicat ¢xr¢nen¢e and other factors thai we cott8idered to be r¢l¢v3nt. Actual r¢5uIts tDay th'ffeT from these es¢imatr& The estimat and underlying assumptions are miewed on an Ongoing basis. Revisions to accountin8 estimates are reco8nis¢d in th¢ period in which the estima is revised where the revision affects only that peniwj. or in the peri of th¢ r¢vision and fvture periods where the revision aff¢cts iKJth wrr¢nt and future periods. 2. Relt party trDSaetS0 and Trnilees. eipellses and remer¥I10 The Trustees all give frttly of their time and rxpcrti5c withoul any lorn) of remuneration or ollr b¢n¢fit in cash or kind (2021.. £llil). There were DO re]ated party traDsa¢tions itt the year. 13
SALISBURY HOUSE NOTES TO THE FINANCL4L STA TEMEIYTS For the year endal 31 Dccern 2022 3. Invutment iDcome 2022 2021 Income from COIF Charities Investsn¢ni Fund Tn¢ome from COIF Chariti¢S Ethical Investsnent FuThl Income from COIF Charities Fixed InreSt Futbd In¢ome from COIF cban.ties D¢posit Fund Interest on cash dep95its 23,302 178 2.354 5,287 222 22,704 236 2.592 3,736 14 4. Allocatlon ofgov¢rnn¢¢ costs 2022 2021 Jndependent examinO1ion fee Surveyovs lee 1.808 2.IIK) The Trustees have decid¢d io meet all governance ¢osts from unrestricted fimds and so no allocation or clw8e is made to resrricied funds for any governance relad w5ts. All governance costs are allated to 8enernl expenses. S. Analy$l8 of ¢hirlt*ble expendlture Unr¢s¢ricte Endowmen Desi8lla Restricted Funds To¢al 2022 Totsl 2021 Fund Funds Education Other ¢xp¢nditure'. Insurance Repairs & Main(enae General expenses Bank clwges 3267 3267 6.804 6.804 6,792 11,0 11,000 3,908 62 3.908 62 1,644 67 2021 An8lysl8 of remun¢Tation of key mxttagernent peT¥ODnel The Trust considers its key man8g¢m¢nl personnel comprise th¢ Tnle¢S and the President. N¢)ne of the Truslees received any r¢rnuneration in the year (2021.. £nil). Alw. none of th¢ Tnte¢S eived any expcllse5 in th¢ year (2021: £nil). 14-
SALISBURY HOUSE NOTES TO THE FINANCL4L STA TEMENTS For the year etKled 31 December 2022 Employees Th¢r¢ w¢r¢ no employecs durADg the year (2021: nil). Land and Buildings Freehold property situated at Childwall Church of Engl8nd Primary School. Woolton Road. Livwl.. At31 December 2022 Ailjatt 2022 Movement in Year At eoit ,496,313 1.496.313 Unrealised Bain on Revaluation on 30 November 2(H)4 ort 18 June2010 on 6 October 2023 1.162.970 1.426,642 1,162,970 1.426,642 (270,925) 1270.925> 4.085 925 270.925 3 815,0 Con¢rlbutlng ¢lemetttJ: Resources olthe Tnle¢S of SAlisbury Flouse Grants from Liv¢rp(M)l EducatioD Commiiiee Grants fTom the Departsnent for Education and Skills School Resources Arising on R¢valuJtion 565,507 565.507 242.919 242,919 655,054 655,054 32,833 2 589 612 4 085 925 32,833 2318687 3 815 0(M) 270925 270 925 The freehold pr(rn w&% valued on 6 October 2023 by Eddisons. Th¢ prop¢rty w&$ valued at £3,815.(K)O current markei value based OD Deprrfiated R¢placemeni Value basis. 9. Flxed Assel Investments 2022 2021 Market value al l January 2022 Unttalised Revaluauon (Loss) I Surph 1,126 J44 (131,891) 1,004,976 121,368 MaTkei value at 31 D¢¢¢mber 2022 994,453 1,126.344 15-
SALISBURY HOUSE NOTES TO THEFINANCL4L STA TENIEN75 For tbe ycar ¢nded 31 Decembry 2022 Inveltment at fair value Comprised: All investments e cavried ai their fair value. Liqutdity risk is anticipated to be low as all a&qets ore trdd¢d and the commitment to inieTveniion by central bank8 and llwket regu]atots has continued to provide for orderly trading itk the tDarkets and YA) tbeir ability to buy and sell quoted equities and stc*k is tnti¢ipaieJJ io continue. Th¢ Tn1,8 investments are mainly traded ID markets with good liquidity and high tradtn8 volumes. The Trust bas no material invesimejit holdings in matl(eL4 subjwl to exchange controls or tradin8 IfstrictiotLS. The Tn( manag¢s these inv&stsnertt risks by rethinin8 expert advisors and operatiD8 an investment
licy that provides for a high dcgr¢e of diversification of holdings Within inYe5tment classes that are quoied on recognised exchanges. Original Market value Matet valu¢ 2022 2021 Clwiti¢S official Investsnerti fvnd income slwes COIF Ethical invegiment inwme units Charities otTicial Investment fund Fixed Inr¢ 293.052 903.610 7,675 1,022,508 8.763 98.025 83.168 95.073 1126344 10. Analy91# of turrent Ilabllldts Totsj 2022 Total 2021 Accrual for.. Jndependeni Examirtation fee survey08 fee Education grdDts Prize5 Chapel Fund Insurance 1,808 2,1 1.628 540 596 11. Unrestrlrted funds 2022 2021 At l January Movement in Funds.. Incoming Expenditur¢, gain& los8. & fraLsfer5 At 31 December 312,087 290.301 5,999 28,755 289,331 5,529 312.087 16-
SALISBURY HOUSE NOTES TO THE FiNANCL4L STA TEMENTS For the ycar ended 31 December 2022 12. Ed0Me•t Fthnd$ Movement in Funds At l Jan 2022 Incomillg Expenditure, gains. lo&sts. & transfers At 31 Dec 2022 Perniaoent EndoNThent Fund Expendable Endowment Fund Total Endowmeni Ftsnd 4.504.075 (270925) 4233.150 242117 4.746,191 171285 4 404 435 15.876 357.634 Al l Jan 2021 In¢omin8 Expenditure. gains. lo&ses, & transfers At31 Dtt2021 Pemiartent Etthwmeni Fund Expendable EThJowmeni Fund Totsl EndOWnnI Fund 4J04,075 4.504,075 242117 4 746.191 4 670 2(K) 15.277 The Endowineni Fund relaies lo the original en¢&)wm¢n¢ and iti¢om¢ orising theyeon. Expendinlle for the main¢¢nae, se¢urity ond of the propety is met from incotue arising. 13. Re3tTkled Fund$ Movemenl in Fund5 At l Jan 2022 In¢on)iDg Expenditure, 8ailL8, losses, & transfer5 At 31 Dec 2022 Education Fund Pn'ze Fund Chapel Fund 193.073 22.670 4,140 565 247 (19.948) (3,033) 177.264 20,202 Movemeni io Funds At l Jan 2021 ltiwmiD8 penditure. gains. losscs, & transfers At31 Dtt2021 Education Fund Prize Fund Chapel Fund 173,535 19.772 12.481 205 788 3.961 553 236 15.577 2,345 193,073 22,670 13.757 The Education Fund is to be used to promo* the educalion of persons under th¢ age of 25 who ar¢ pupils or fornierpupils of Cbildwall Churcb of England Primary S¢hool, wbo are in neal of fllwicial assisthnce. The Prize Fund is to be used ftir the award of annual Prizes to pupi]s OT forn pupils of Childwajl Churcb of England Primary Scknol in rewgnition of their achievemcnts. 17-
SALISBURY HOUSE NOT TO THE FANCL4L STA TEMENTS For the year ended 31 Decanber 2022 The Chapel Fund is to be used th acquire equipmen( religi(Kts artefacts. furniDJre and other items which may, from lime to time, k deterniined for the purEX)S¢s of Christian ivotship. teaching and fellowship. 14. De%l8n#ted Fwids 2022 2021 At l January 218,848 198,126 Movernent in Fund&. Incoming Expenditure, gains losse4 & transfers 4,515 (16.804) 3,729 16,993 Ai 31 De¢¢mbeT 206 559 The ExtrJordinary RepaiT Fund hLs be¢n earn] by the Tn1¢¢$ towards the develq)ment and the replac¢m¢nt of the school premis¢5 when the existin8 building is no longer eeonomi¢ or viable. 15. Analysls of Det as1$ b¢tYrf¢en funds Tang1 le rixed Net Current Total Restrlcted Funds Education Fund Prize Fund Chapel Fund 134,104 18.826 7,675 160,605 43,161 1,377 4.644 49,181 177,265 20203 12,319 209,786 Endowm¢tti 3.815.( 521J65 68.070 4,404,435 Deslgn*ted Fund 127,346 79.213 206,559 3,815.OCK) 809.316 196.464 4,820.780 Gener Fund 185.137 104,194 289,331 3,815,IMKI 994,453 300,658 5,110.111 16. Flnanelal Instruments 2022 2021 Carrying Amount of finti•l Debt instruments measured at amortised st 323.436 301,095 1.126,34 Instruments measured at fair yah through the SOFA 994,453 Carrying arnouDt of flnaDelal IlabS]Ides Measured at wnortised cost 22,778 6,738 18_