SALISBURY HOUSE
Registered Charity No. 526739
TRUSTEES, REPORT AND
UNAUDITED ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2023
MITCHELL CHARLESWORTH
ACCOUNTAKrs

SALISBURY HOUSE
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
For the year ended 31 December 2023
CONTENTS
Page
Trustees, Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
io
Notes to the Financial Statements
11-19

SALISBURY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report and fmancial statements of the charity for the year ended 31
Deceinber 2023. The financial statements have been prepared in accordance with the accounting policies set
out in note I to the accounts and Coinply with the Charities Act 2011 and Accounting and Reporting by
Charities.. Statement of Recommend¢d Prnclice applicable to charities pi'eparing their accounts in accordance
with the Financial Reporting Stsndard applicable in the UK and R¢publi¢ of Ireland {FRS 102} (as amended
for ae¢ollnting periods commencing l January 2019).
Reference ond admlnlstratlve Information
Tru$tees
The following persons were frnstees during ihe year and held the Committee or School GoveTnor
appointmcnts indi¢ated'.
Mr J Bird
Rev Andrew Colmer
MIE L Davies
Mrs J Griffiths
Mrs V Kerr
Rev H Lea-wilson
Mi% W Mason
Mr S Mcclelland
Mrs D Owe
MrNPye
Mr A Rainsay
Mr K Swallow
Mr P Woodward
Mr M Doyle
Trustee
Ex Officio Trustee
Treasurer & Found21ion Governor
Trustee
Trust¢e
Trustee
Head Teacher
Trustee
Trustee
President & Foundation Governor
Foundation Governor
TrLlStee (resigned on 22 February 2024)
Secretary & Foundation Governor
Trustee (appointed on 15 Febwary 2024)
All Thistee5 are instructed in the practice of the Trnst and where they are Foundation Governors of Childwall
Church of England Primary S¢hool receive training as provided by the Liverpool Education Authority.
Principal Address
The Trustees of Salisbury House
Childwall Chui'ch of England Primary School
Woolton Road
L16 OJD
Jndependent Examiners
Tony Stanley
Mitchell Charlesworth
Suites C,D,E &F, 14th Floor The Plaza
100 Old Hall Street
LiveTpooI
L3 9QJ
Banker5
HSBC
99, Merseyside
101 Lord Street
Liv¢tpool
L2 6PG
Investment Manager
CCLA
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Objectives and aetlyities for the public benefit
Th¢ Liverpool Orphanage and its endowinents were brought within the provisions of the Salisbury House
Foundation by way of a Scheme made by the See￿1￿ry of State on I I September 1964 and varied and
approved by the Charily Cominissioners on 3 October 1977. The Liverpool Orphanag¢ wa5 originally
established in the nineteenth century and later irgulated by further schemes dated 1913 and 1925.
By ag]Eernent with the Charity Commissioners the S¢h¢Jn¢ was reorganised on 21 October 1998, whereby
the various cndowTnents were restructured into (l) Pennanent Endowment Fund, (2) G¢neral Fund (3)
Education and Prize Funds. (4) the Extraordinary Repair Fund, and15} Chapel Fund.
Under the terims of the various Schemes. the Trustees are to perrnit the land and buildings owned by the
Foundation to be used as a school for girls and boys: aiid it is provided that religious instruction ¢ODSiStent
with the d￿tri￿¢S of th¢ Church of England shall be given at the school. The TINstees air responsible for the

rnaintenance and insurance of the property, u5in8 incoine frojn the Permanent Endowment. The premises are
¢U)Tently in use by the Childwall Church of England Priinary School.
Structurei govtrnance and management
Salisbury House is a rcgistered charity, nuillber 526739, and constituted under a Trust Deed dated 21 October
1998. The charity do¢s not actively fundi.a1￿ and 5¢eks to continue its charitable woi'k through the care￿[
stewardship of its existing resources.
Key managtmeTht personnel
The Trustees consider the board of Trustees and Presid¢nt as comprising ihe key manag¢in¢nt peTsonnel of
the Charity in chai'ge ofdirecting and contt"olling the chai'ity and running and ope12ting the charity on a day
to day basi5. All Ti'ustees give of their time freely aiid no Trustee remuneraiion wa5 paid in the year.
Trustees are reqilired to disclose all relevant interests and register thein with the President and in a¢¢ordance
with the Trust's policy withdraw from decision where a coiiflict of illterest arises.
Ti'ustee descriptions tnay coine under several titles.. Tiustee, Ex OtTicio Trustee. Foundation Govemor.
Tr¢asurer & Foundation Governor, President & Foundation Gov¢rnor.
All Trustee5 are instructed in the practice of the Trust and where they are Foundation Goveinors of
Childwall Chuich of England Priinary School receive training as provided by the Liverpool Education
Authority.
Dcvelopmenl, Activities and AchievemeDIs
Each of the various Fuiids has been used during the year to the best advantage and the grants made have
been appreciated greatly by the recipients.
FiNanciHI Review
The Trustees were pleased to provide Education Fund grants amounting to £11,425 (2022.. £2,131). There
were no grants fi'oin the Prize Fund (2022.. £540) or Chapel Fund (2022.. £596) in the year. The Endowment
Fiind expenditure ainounted 10 £8,658 eoinprising £7.346 insurance cost5 and £1,312 heat puinp repair
{2022'. insiirance £6,804 and 5en50ry rooin £1 1.000). General expeiis¢s comprised Governance costs of
£2,104 {2022.. £1,808 Govei'jiance costs and £2,100 Surveyor's fee5). The total income in the year was
£38,184 aiid the total expenditure ainoiinted to £22,249, resulting in a surplus {befoiE investment
gainsllossesl iji the year of £15,935. At 31 De¢eti)ber 2023 the total fllnds under the Trustees, Inanageinent
was £5,214,220 (2022.. £5,110,1 I I).
Tru5tte5' Responsibilities In relatlon to the fin&ncial statements
The cliarity I'rustees are responsible foi. preparing a Trustees. annual report and financial sratements in
accoi'd(ince with applicable law and United KinLdoin Accounting Standards (Unitcd Kingdoin Generally
Accepted Accounting Practice).
The law applicable to cl)arities in Englaftd 2nd Wale5 requires the charity Trusle¢s to prepare financial
stateinent5 for each yeai. which give a true and fair view of the state of affairs of the chai'ity and of the incoming
resoiii'ces and application of resources, of the chw'ity for that period. In preparing the financial statements. the
Trustees are reqiiiTed to..
select suitable accounting policies and apply thein consistently.,
observe the meihods and principles of the Charities SORP.
Inake judgeinellt5 and estiinates that are Ira50nable and prudent.,
state whethej. applicable accountinbj standards hav¢ been followed. subject to any mat¢i'ial
departure5 that Inust be disclosed and explained in ihe financial statements.
prepare the financial statements on the going conceill basi5 unless it is inappropriate to presume
that the charity will Continue in business.
The Tru5tee5 are responsible for keeping propel accounting records that disclose with reasonable accuracy at
any tiine the f]nancial position of the charity and lo enable them to ensure that ihe financial ststements comply
with the Chai"ities Act 2011, the applicable Charities (Accounts and Reports) Regulations. and the provisions
of the Trust deed. They ar¢ also responsible for safeguarding the assets of the charity and taking reasonable
steps lor the preventton and detection of fraud and other i￿¢gUlaritIeS.

Investment poliey And performanee
The Trusiees have aligned their investment policy with that of th¢ Charities Official Investsnent Fund
Managers. On original investment the capital of the various funds were allocated..
75 /0 in Equity Units yielding growth over the long terin
250/0 in Fixed Interest Units aimed to provide a high incom¢ yield
Monies deemed to be required for building projects are placed on depositwith COIF and accumulated incojne
balall¢¢s are on bank dep)sit.
Reserves Policy
The Extraordinary R¢pair Fund reserve is requared to meet the Trustees. contribution to new building costs.
Depending upon Government Policy at the time the Trustees consider a required contribution by thetn of lOO/
of rcplacement building costs to be a reasonable target.
The Trustees endeavour to distribute the accuinulaled incom¢ within the restricted funds and seek to make
known the availability of the grants.
Finally, the General Fund reserves are held at a level to meet the ongoing administratiot] of the Trust together
with anticipated supplements io the other funds.
Risk rnaThagement
The Trustees I'eview the Major risks at tri-annual meetings and have established sy5t¢ms to minimise these
risks.
Reeruitmenl of new Trustees
Reciuittnent of Trustees is Carried out to appoint trustees in keeping with the best interests of the TTUSt.
New Trustees are recruited on the basis of their prof¢5sional skills and work experience. Prospectiv¢
Ti'llstees are approached if they have a professional skill or Televant work experience, that the Trust¢¢s
b¢liev¢ would benefit the Trustee board, or if a new TTU5te¢ Is required to replace a Trustee with a particular
prof¢ssion or skill.
Trairtlng
Upon appointmei]t, new Trilstees are provided with a file of information on the history of the Trust and its
responsibilities toward5 th¢ whool.
Safeguarding
Trustees should keep up-to-date with Safeguarding changes in line with school governor training.
Tn]gtees do not require DBS checks to be made as they do not perform any regulated activity with adults or
ohildren. Nevertheless, where TNstees hold governor positions with Childwall Church of England Primary
School, they are required to have a DBS check carried out ihrough school processes and to read and sign
acknowledgfflnent of the school's Safeguarding Policy.
Non-DBS-¢heeked Trustees who are on school preinise$ where pupils are still present must rnake sure that
they are a¢¢oinp&nied at all times by a member of school staff, or DBS-checked Trustee.
Open and Positive Culture
The Trust pY(Trmotes a fair, open attd positive culture. All Twstee5 are able to repoit toncerns, confident that
they will be heard and responded to. Concern should be reported io th¢ Secretary of the T]￿st in confidence
for investigation by a quorum of Trustees, independent of the ¢on¢ern raised.
Plans for the future
The Trustees will continue to provide the premises for Childwall Chur¢h of England PTimary Sehool and in
particular accumulate a resource towards the replacement of the building. Th¢y will continlle to support
pupils and former pupils in their personal and academic development and a¢hiev¢in¢nts through awards and
grants.

Public Benefit
I'he ¢harity's Trustees have complied with the duty in section 17{5) of the Charities Act 2011 to have due
regard to public benefit 8uidanc¢ published by the ch￿'￿ty Cojnmission.
On behalf of the Trustee5
NPye
]4esident
27 Mar¢h 2025

DIDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SALISBURY HOUSE TRUST
I report to the Tru5t¢¢s on ]ny examination of the account5 of Salisbury House {the charity) for the year ended 31
Deeemb¢r 2023.
This report is made solely to the charity's Trustees, as a body, in accordance with Section 145 of the Charities Act
2011. My examination has been und¢rtaken $0 that I might state to the charity's Trustees those inatteTS l am required
to state to thein in an Independent Examinerfs report and for no other puwose. To the ￿lIest extent permitted by law,
I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my
¢xamination, for this report, or foT the opinion5 1 hav¢ fgrmed.
Re5ponsibilitie5 and basis of report
As the Trustees of the charity you are responsible for the preparation of the ac¢ounts in accordance with the
requir¢inents of the Charitie5 Act 2011 (the 201 l Act).
I report in resP¢Ct of iny examination of the charity's accounts Carried out under section 145 of the 201 l Act. In
carrying out Iny examination I have followed all the appli¢abl¢ Directions given by the Charity Commission under
section 145{5)(b} of the 2011 Act.
Independent examineT'S StAtement
Your attention 15 drawn to the fact ihatihe chariry has PiEpared accounts in accordance with Ac¢ounting and Reporting
by Charilie5 preparing their accounts in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102) in preference to the Accounting 8nd Reporting by Charities.. Statement of
R￿o￿l￿ended Pra¢ti¢¢ issu¢d on l April 2005 which is referred to in the extant regulations but has now been
withdrawn.
l understand that this has bcen done in order for accounts t(> provide a true and fair view in accordance with Generally
Accepted Accounting Prdctice etyective for repoiting p¢riods beginning on or after l January 2015.
I have completed my examination. I confllTr that no matt¢r5 have Come to my attention in connection witli the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charity as required by section 130 of the 201 l Act; or
the a¢c(Trunts do not a¢cord with those records. or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give
a true and fail view which is not a Inatter considered as part of an independent ¢xaminalion.
I have no concerns and have ¢ome across no other matters in connection with the examination to which attention
should be drawn in this report in ordei. to enable a PTop¢r understanding of the accounts to be reached.
ChdL5w
Mr Tony Stanley ACA
Mitchell Charlesworth
Suites C, D, E &F, 14 Floor, the Plaza
100 Old Hall Street
Liverwol
L3 9QJ
Dated..
01.04.2025

SALISBURY HOUSE
STA TFMENT OF FINANCIAL ACTIVITIES
For the yeai. ended 31 December 2023
Note Unrestrieted Endowment Restricted Designated
Fund
Funds
Fund5
Funds
Total
2023
Tot%LI
2022
Incorne and endowments
Inv¢stinent income
7,655
Total Income
Expenditure
Expenditure OD Charitable activities
Educatson
Other expenditure
11.425
11,425
3,267
21,774
Total Expendlture
Net gainsl(losse5) on investments
r4el ga5n51{losses) on fixed assets
2,166
8.658
11,425
22,249
25,041
10
15.576
46,884
14.174
11,540
88,174 (131,891)
270 925
Net (expenditureylneome
21,065
55,730
8,562
18,752
104,109 (396,515)
Fund5 81 l January 2023
289,331
4,404 435
209 786
206559 5 110 111 5506626
F￿lld5 at JI Decernbei. 2023
16
310397
4,460,164
218.348
225 311 5,214 220 5 110 111

SALISBURY HOUSE
cO￿ARATIvE STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 Deceinber 2022
Note
Unr¢stri¢ted Endowment Restrlcted DeSig￿ated
Fund
Funds
Funds
Funds
Total
2022
Total
2021
Income and ¢ndowment$
Investment income
5,999
15,877
31.342
Tot21 ineome
4,515
Expenditure
Expenditure on charitable a¢tivltles
Education
Other ¢xpendlture
3,267
3.267
21.774
8,441
Total Expenditure
3,970
17,804
3267
(68,904) (21,398)
270 925
25.041
8,441
Net (lossesygains on investments
Net (lossesygains on fixed assets
10
(24,785)
(16,804) (131,891)
270 925
121,368
Net (expenditure)lincome
(22,756)
(341,756) (19,714)
{12,289} (396,515)
142,211
Fund5 81 l January 2022
312087
4746 191
229 500
218,848 5,506 626 5 364,415
Fund5 8131 Detember 2022
16
289331
4 404 435
209,786
206,559 5,110.111 5.506,626

SALISBURY HOUSE
BALAf4CE SHEET
At 31 Deceinber 2023
Note
Unrestricted EndowmeTht R¢51ricted Designated
Fund
Funds
Funds
Fund5
Total
2023
Total
2022
Tangible Fixed Assets
Land & Buildings
Investinents
3,815.000
568,248
3,815,000 3,815,000
138.886 1,082,626
994.453
10
200 713
174,779
200713
4,383 248
174,779
138 886 4,897,626 4 809 453
Current Assets
Bank
113596
113.596
82,560
82,560
43,952
86,425
326.533
326.533
323,436
323 436
Current Liabilities
CJEditors
383
22,778
Net Current Assets
109684
76.916
316594
300,658
Totgr assets less
curi'ent liabilities
310,397
4 460,164
218,348
5 214.220 5 110 111
The Funds of the
Charity:
Unrestricted Funds
Endowment Funds
Restricted Funds
Designated Funds
Revaluation Rescrve
Total charity funds
12
13
14
15
310.397
310,397
289,331
2,141,477 2,085,748
218,348
209.786
225,311
206.559
2,318,687 2.318.687
5,214.220 5,110,111
2,141,477
218.348
225,311
2.318687
4,460,164
16
310.397
218.348
225,31
The notes at pages I I to 19 foi'it) pa]t of these accounts.
Approved by the Trustees on [Ncl and signed on theii. behalf by..
11 fvl(YvLlo15
NPye
President
10

SALISBURY HOUSE
NOTES TO THE FINANCIAL STA TEMENTS
For th¢ y¢aT ¢nded 31 D¢¢emb¢r 2023
l. Chllrlty Informatton
Salisbury House is a UK registered charity. The principal address 66 Childwall PaAt
Avenue, Liverpool, L16 OJQ.
l Accounting Polieles
Basis of preparatlom And assessment of golng eoneern
The accounts {financial stateinent$) have been prepared under the historical ¢ost convention
with items recognised at cost or transaction value unless otherwise stated in the relevant
notels) to these accoiints. The financial statem¢nts have been prepared in accoTdan¢e with
th¢ Stateinent of Recognised Practice.. Accounling and Reptsrting by Charitie5 prepaTing
their a¢counls in accordance with the Financial Reporling Standard applicable in the UK
and Republic of Ireland (FRS102) issued on 16 July 2022 and the Financial Reporting
Siand8rd 2pplic8ble in the United Kingdom and Republic of Ireland (FRS102). effective I
January 2019) and the Charities Act 2011.
At the time of approving the accounts th¢ Tnjstees have a reasonable exp¢¢tation that the
charity has adequate resources to continue ifi operational existence for the foiEsceable
future. Thus, the Ti'usiees continue to adopt the 'going concern. basis of accounting in
preparing (he accounts. The accounts are prepared in sterling, which is the functional
ciirrency of the trust. Monetary amounts in these financial statejnents are rounded to the
nearest £.
The accounts hav¢ d¢parted from the Charities (Accounts and Report$) Regulations 2(K)8
only to the extent required to provide a true and fair view. This departure has involved
following the Statement of Recoinmended Practice for charities applying FRS 102 rather
than the version of th¢ Statement of Recominended Practice which 15 referred to in the
Regulations but which has since b¢en withdrawn.
The Charity has tsken advantage of the provisions in the SORP for Charities applying FRS
102 Uwjate Bull¢lin I not to prepair a Stateinent of Cash Flows.
In¢orne recogThition
All incoine will b¢ recogni5ed once the trust has entitleinent to the income, it is probable
that the incoine will b¢ received and the amount of income i'eceivable can be ineasured
reliably.
Interest on ￿ndS held on deposit is included when receivable and the amount can be
Ineasured r¢liably by the trust,. this is norinally upon notification of the interest paÉd or
payable by th¢ bank or investment manager.
Expenditure recognition
Liabilities are IE¢ognised as expenditure as soon as there is legal or constructive obligation
committing the charity to ihat expenditure, it is probable thai settlement will be required and
the amount of th¢ oblÈgation can be Ineasured Irliably.
All expendiiure is accounted for on an accruals basis. All expenses including govertyance
¢051$ are allocated or apportioned to the appli¢able expenditure headings.
Grants payable are payinents Inade lo Current or fomer pupils in financial need to enabl¢
them to further their education, or prizes awarded to ¢urrent pupils for attaininent in soine
area. e.g. attendance. Grants are accrued once the r¢cipi¢n( has been notified of the grant
award.
b)
d)
Grant maklng polley
The trust has cstablished its gt2nt making policy to achieve ir$ objecis for the public benefit.
Irreeoverable VAT
Irrecoverable VAT is charged against the expenditur¢ heading for which it was incurred.

SALISBURY HOUSE
NOTES TO THE FINANCIAL STA TEMENTS
For the year ended 31 December 2023
Allocallon ofsupport and governanee cost$
Governance cost5 comprise all costs involving the public accoLintability of the charity and
its ¢oJi)pliance with regulation and good practice. These cosis include costs related lo
independent exainination and legal f¢¢s together with an apw)rtionment of overheads.
g)
Charitable actlvitles
Cost5 of charitable activitie5 include grants made, goveimance costs and other relevant
expenditure.
FIKed asset iNvestments
h)
Investtnents are a forin of basi¢ financial instruinent and are initially recognised at their
trdllsaction value and Subsequently measured al their fair value as at the balance sheet dat¢
sing the closing quoted market price. The slaiement of financial activities incliides the net
gains and losses arising on revaluation and disposals throughout the year.
The Inain fomi of financial risk faced by the charity is thal of volatility in equity Inarkets
and investment markets due to wider economie conditions, the attitude of investors to
investinent risk, and changes in sentiinent concerning eqiiities and within particular sectors
or sub sectors.
Impairment of fExed assets
At ea¢h reporting end date, the charity reviews the carrying amounts of ils tangible assets to
deteiTnine whether there is any indication thai those assets have suffered an iinpaii"Inent loss.
If any such indication exists, the recoverable amouni of the asset 15 estiinated in order to
(Itten￿1n¢ the extent of the impainiient loss (if any).
Land and bulldings
The property at Woolton Road, Liverpool, is capilalised at valuation.
Realised gains and losses
All gait]s and losses are taken to the Siatenient of Finan¢ial Activities as they arise. Realised
gains and losses on investinents are calculated as the diffeien¢e between sales proceeds and
their opening caiTying value or their puicha5e valiie if acquired subs¢qiEent to the first day
of the financial ye2T. lJnrealised gains and losses ale calculated as the difference between
the fair value at the year end and their carrying valEie. Realised and unrealised investment
gains and losses are coinbined in the Stalen)ent of Financial Activities.
Taxatlon
J)
The charity benefits from various exemptions froin taxation afforded by tax legislatEon and
is not liable to corporation tax on income and gains falling within these exeinplions.
Restricted funds
Resh'icted fiinds are used for the piitposes specified by the donor. Expenditure which meeis
the critei'ia 15 identified to the ftind.
Unrestricted funds
Uniestricted funds are donations and any otheT incoine received or generated for the objects
of the eharity without fLiriher specified purpose and ar¢ available as sepaixte funds.
Dtsignated fund
The designate fund hold5 earjnarked resources towai'ds the development and replaceinent of
the preinises. A ti'ansfer of costs and fuiiding is Jnade when developinents in progr¢5s are
cojnpleted and fully funded by the contributing parties.
Grants received
p)
GTants received towards capital expenditure on the building ar¢ included in the financial
5tateJnent5 when received.
12

SALISBURY HOUSE
NOTES TO THE FINANCIAL STA TkMEIVTS
For the year ended 31 D¢cember 2023
q)
Endowm¢Dt fullds
Incoming resources froin endowment funds ar¢ r¢stricted.
Financi41 in$trument5
The Charity has elected to apply the provision5 of Se¢tion I I 'Basic Financial Instruments,
and Section 12 '0thei' Financial Instti]Inents Issues, of FRS 102 to all of its financial
instruinents.
Financial instruinents are re¢ognised in the charity's balance sheet when the ch￿lty becomes
party to the ¢ontractual provisions of the instruinent.
Financial assets and liabilities are offset, with the net amounts Presented in the financial
statein¢nts, when ihere is a legally enforceable right to set off the recognised amounts and
there is an intention to settle on a net basi5 or to realise the asset and settle the liability
Sllnultaneously.
Basle finaneial asscts
Basic financial assets, which Tnclude debtors and cash and bank balances, are initially
m¢3sured at Iransaction pi'ice including transa¢tion costs and are subsequently carried at
amoi1ised cost using the effective interest meihod unless the arrangemeni constitutes a
financing transaction, where the transaction is measured at the present value of the future
receipt5 discounted at a Inai'ket rate of interest. Financial assets classified as receivable
within one year aTe not ainortised.
Basic financial Instruments
Basic financial liabilities, in¢luding credirors atkd bank loans are initially recognised at
transaction price unless the arrangement constitutes a financing trAnsaction, where ihe debi
nstruinent is ineasured at the present value of the future receipts dI￿OUnted ai a market rate
of interest. Financial liabilities classified as payable within one year are not ￿￿OrtISed.
Debt instruments are subsequentSy carried at amoitised cost, using the effective interest rate
method.
Trade creditors are obligations to pay for goods or services that have beet) acquired in the
ordinary coui'se (Trf operations froin suppliers. Amoynts payable are classified as cuir¢nt
liabilities if payment is due within one year or le55. If not, they are presented as non-¢un*nt
liabilities. Trade creditors are recognised initially at transaction pi'ice and subsequently
measured at amoilis¢d cost using the effective inteTest In¢thod.
Dereeognition of financial liabllities
Financial liabilities aTe derecognised when the charsty's contractual obligations expire or ar¢
discharged or cancelled.
Critical accountÉng estlmates and judgements
lrt the application of the charity's accounting wlicies, the Trustees are Irqllir¢d to make
judgements, estimates and assuinptions about the carrying amount of assets and liabilities
that are not readily apparent from other sources. The estiinates and associated assumptions
are based on historical experien¢e and other factors that are considered to be relev8nt.
A¢tual rcsulis may differ from thes¢ estli￿ates.

SALISBURY HOUSE
NOTES TO TIIE FINANCIAL STA TEMENTS
For the year ended 3 1 December 2023
The estijnates and underlying assuinption5 are reviewed on an ongoing basis. Revisions to
a¢counting estimares are recognised in the pei'iod which the estiinate is revised where the
revision affects only that ￿riod, or it] the period of the ievision and future perEods where
the revision affects both curi'ent ai)d future periods.
Ther¢ were Considered to be no critical accounting estlinates or judgements applied in the
preparation of these financial statements.
t) Cash and eAsh equivalent$
Cash and cash equivalents include cash in hand. deposits held at call with banks. other
short-tenn liquid itjvestinents with original inatUTlti¢s of three Inonths or less.
3. Related party transactlons attd Tru$tee5' expenses And remuneration
The Tjustees all g>ive freely of their tiine and expeitise without any foiin of reinuneration or other
benefit in cash or kind (2022.. £nil}. TheJE were no related paty transactions ill the year.
Inve5ttRent Éncome
2023
2022
Incoine froin COIF CharÉties Investinent Fund
Incoine froin COIF Charities Ethical Investinent FILnd
Income froill COIF Chariti¢s Fixed Interest Fund
Incoine froin COIF Chat'ities Deposit Fund
Intei'est on cash deposits
27,086
241
2,004
6,794
2,059
38,184
23,302
178
2,354
5,287
222
31,342
Alloe4tiun of governance Costs
2023
2022
Independent exainination fee
Siii'veyor's fee
2,104
1,808
2,100
2,104
3.908
The Trustees have decided lo Ineet all govemance eosts froin unTestricted funds and so no allocatio
or chai'ge is It)ade to Jtsti'icled funds for any governance related costs. All governance costs are
allocated to general expenses.
14

SALJSBURY HOUSE
NOTES TO THE FINANCIAI. STA TFMEIVTS
For th¢ y¢ai' ended 31 December 2023
Analysis of charitable expenditure
Unrestricted Endownent Restricted Designated
Fund
Funds
Funds
Funds
Total
2023
Total
2022
Education
other expenditure..
Insurance
Repairs &
Maint¢nanc¢
General expense5
(note 5)
Bank chai'ge5
11,425
11,425
3.267
7,346
7.346
6,804
1,312
1,312
11,000
2.104
62
2,104
62
3,908
62
2022
17,804
3.267
7. Analysis of remuneration of key management personnel
The Trust consideTs its k¢y InpnageInent personnel comprise the Trustees and the President. None
of the Trustees r¢¢eived any remuneration in the year (2022.. £nil). Also, none of the Trustees
received any ¢xp¢nses in tht year12022= £nil).
Employees
There were no einployees during the y¢w' (2022.. nil}.
L#nd and Blllldln%s
Fr¢¢hold propety situated at Childwall Church of England PrI￿ary School, Woolton Road,
Liverpool..
At31
December
2023
At l January
2023
MoveiMen¢
in Year
At eost
1,496,313
1,496,313
Unrealised gain on Revaluation
on 30 Noveinber 2004
on 18 June2010
on 6 October 2023
1,162,970
1,426,642
(270,925}
1.162,970
1,426,642
(270,925)
3 815 000
3 815000
15

SALISBURY HOUSE
NOTES TO THF FINANCIAL STA TEMENTS
For the year ended 31 Decejnber 2023
Contributing elements;
ResourLts of the Trllstees of
Salisbury House
Grants froin Liverpool Education
Coininittee
Grants froin the Department for
Education and Skills
Scliool Resources
Arising on Revaliiatio
565,507
565,507
242,919
242,919
655,054
655,054
32,833
2318687
3,815,OUO
32,833
2318,687
3,815,000
The freehold property was valued on 6 October 2023 by Eddisons. The pi'opety was valued at
£3.815,000 c￿rrent market value based on Depreciated Replacement Value basis.
10. Fixed Assel Inve5t]Nent$
2023
2022
Market value at l January
Unreali5ed Revaluation {Loss) / Surplus
994,453
88,174
1,126,344
(131.891}
Market value at 31 Deceillber
1,082,627
994,453
Inve4tment at falr value
Comprised:
All inve5ttnents are carried at their fair value. Liquidity risk is anticipated to be low as all assets
are Iraded and the ¢oininitinent to intervention by Central banks and Inarket regulatols has
continued to pmvide for Lirderly trading in the markets and so their ability to buy and sell qiioted
equities &lld stock is anticipated io continue. The Trust's investments are Inainly tTaded in inarkets
with good liqiiidity and high trading voluiMe5. 1.he Ti'ust has no Inalerial snyestment holdings in
mai'kels subject to exchange controls or trading r¢sb'ictions.
The Ti'ust inanages these investiment risks by Irtaining expert advisor5 and operating an investsnent
policy that provides foi. a high degiee of diversification of holdings within investmcnt classes that
are quoted on recognised srock exchanges.
Original
eogt
Market
value
2023
Market
value
2022
Charities 0￿1ClaI Investment fiind income shares
COIF Ethical investinent incoiiie units
Charities official Investmeni fund Fixed Interest shares
293,052
5,000
98,025
986,641
8,429
87,556
903,610
7,675
83,168
396 077
1082 626
994 453
16

SALISBURY HOUSE
NOTES TO THE FINAIVCIAL STA TEMENTS
For the year ended 31 December 2023
I l. Analysis of turrent liabillties
Total
2023
Totsl
2022
Accrual for..
Independent Examination fee
Surveyor's fee
EdU￿tIOn grants
Prizes
Chapel Fund
Insurdnce
Sensory Roo]n
3.912
1,808
2,100
1,628
540
596
5,106
383
5,644
9,939
22,778
12. Unrestricted funds
2023
2022
At l January
Movement in Fund5'.
In¢oming
Expenditure, gaÉns, losses. & transfers
At 31 Deceinber
289,331
312,087
7,655
5,999
310397
289331
IJ. Endowment Funds
Movement in Fwids
Atljan
2023 Incoming Expendiiure, gains, At 31 Dec 2023
losses, & transfth%
Perinanent Endownent Fund
Expendabl¢ Endowjnenl Fund
Total Endowment Fund
4,233,150
171285
4404435
4,233,150
227014
4,460,164
38,225
Atljan
2022 Incoining Exp¢ndih]re, gains, At 31 Dec 2022
losses, & trdnsfei
Pent]an¢nt Endowment Fund
Expendable Endowment Fund
Total Endowment Fund
4,504,075
242,117
4 746 192
(270,925)
86.709
357 634
4,233,150
171,285
4 404 435
15,877
15,877
The Endowment Fund r¢lat¢s to the original endowment and income ai'ising thereon. Expendithre for the
maintenance. security and insurance of the property is inet from income arising.
17

SALISBURY HOUSE
NOTES ro THE FJNANCL4L STAfEMEivrs
Foi. the year ended 31 Deceinber 2023
14. Reslric(ed Funds
Moveinent in Funds
At l Jan 2023 Incoining
Expendituie, gain5,
losseg, & traiisfers
At 31 Dec 2023
Education Fund
Prize Fund
Chapel Fund
177,264
20.202
4,905
589
320
5,813
(818)
2.217
181.351
23,008
209,786
218,348
Moyeinent in Funds
Ac l J8n 2022 Incoming
ExpenditUTe, gain5,
105ses, & transfers
At 31 Dec 2022
Education Ftjnd
Prize Fund
Chapel Fund
193,073
22,670
13.757
229 500
4,140
565
247
4,951
(19,948)
(3,0331
177,264
20,202
12,320
209,786
(24,665)
The Education Fund is to be used lo promote the edueation of persons under the age of 25 who are
piipils or forimer pupils of Childwall Church of England Pi'iinary Schuol, who air in need of
financial 3551Stun¢e.
The Prize Fund 15 to be iised for the award of aiinual prizes to pupils or foriner pupils of
Childwall Church of England Pi'imary School in JEcognition of their achieveinents.
The Chapel Fund is to be used io acqiiire equipinent, IEligious artefacls, furnitUJE and other items
which Inay, froin time to tiine, be deteijnined for the purposes of Christian worship, teaching and
fellowship.
IS. Designated Funds
2023
2022
At l January
206,559
218,848
Moveinent in Funds..
Incoining
Expenditure, gains. losses, & transfeTS
7,212
1,540
4,515
(16.8041
At S l December
225311
206,559
The Extraordinary Repair Fund has been earjnarked by the Trustees towards the developinent and
the Teplaceinent of the school preinises when the existing building is DO longer economic or viable.

SALISBURY HOUSE
NOTEY TO THE FINANCIAL STA TEMENTS
For the year ended 31 December 2023
16. AnRIy5is of net assets between fund$
Tangible
fixed
assets
Net Current
Investtnents
Asset5
Total
Restri¢ted Fllnds
Education Fund
Prize Fund
Chapel Fund
145,847
20,503
8,429
174,779
35,504
2,505
5,559
43,569
23,008
13.988
218,348
Endowment Fund
3,815,000
568,248
76,916
4,460,164
Designated Fund
138,886
86,425
225,311
3,815,000
881,913
206,910
4,903,823
General Fund
200,713
109,684
310,397
3,815,000
1,082,626
316.594
5,214,220
17. Fin#nei41 IRstrumtnts
2023
2022
Carrying amount of financi81 asset5
Debt insiruinents measured at ainoilised cost
Instruments measured at fair value through the SOFA
326,533 323,436
1,082,626 994,453
Carrying amount or rinaneial liabilities
M¢asiir¢d at ainortised cost
9,939
22,778
19