SALISBURY HOUSE
Registered Charity No. 526739
TRUSTEES, REPORT AND
UNAUDrrED ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2024
MITCHELL CHARLESWORTH
ACCOUN'FANTS

SALISBURY HOUSE
TRUSTEES> REPORT AND FINANCIAL STATEMENTS
For the year elided 31 Decembei- 2024
CONTENTS
Page
Trustees, Report
Independenl Examiner's Report
Statement of Financial Activities
Balance Sheet
io
Notes to the Financial Statements
11-20

SALISBURY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The Tru5tee5 present their annual report and f￿ancIal statements of the charity for the year ¢nded 31
D¢c¢mber 2024. Thc financial statements have been pi"epared in accordance with the accounling policies set
out in note I to the accounts and comply with the Charities Act 2011 and Accounting 2nd Reporting by
Charities: Statement of Rtcoinmended Practice applicable to charities preparing their a¢count5 in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (a5 am¢nd¢d
for accounting periods com2nencing l January 2019).
Reference and administrative informatio
Trustees
The following persons were Trustees during the year and held tlie Cominittee or School Governor
appointments indiLated..
Mr J Bird
Rev Andrew Cohner
Mrs L D3vie5
Mrs J Gi'iffiths
Mrs V K¢Tr
R¢v H L¢a-Wi150n
Mrs W Mason
Dr S Mcclelland
Mrs D Owen
MrNPye
Mr A Ramsay
Mr K Swallow
Mr P Woodward
Mr MA Doyle
Trustee
Ex Officio Truslee
Treasurer & Foundation Governor
Trustee (deceased 9 April 2025)
Trustee
Trustee
Head Teacher
Trustee
Trustee
President & Foundation Governor
Foundation Governor
Trustee (deceased 14 Deceinber 2025)
Secretary & Foundation Governor
Trustee (appointed 15 Februaiy 2025)
All Tmstees are instructed in the practice of the Trust and where they are Foundation Governors of Childwall
Churcl) of England Prllnary School receive training as provided by th¢ Liverpool Education Authority.
Principal Addr¢$$
The Trustees of Salisbury House
Childwall Church of England Primary School
Woolton Road
L16 OJD
Ind¢pend¢nt Ex4rnitter5
Tony Stanley
Mitchell Charlesworth
Suites L,D,E &F, 14rf1 Floor Th¢ Plaza
100 Old Hall Street
L&verpool
L3 9QJ
Bankers
HSBC
99, Merseyside
10 l Lord Street
Liverpool
L2 6PG
Investment Manager
CCLA
SenatOT Hous¢
85 Qucen Vidoria Street
London
EC4V 4ET
Objectives and activities for the publie benefit
The Liverpool Orphanag¢ and its endowmertts were brought within the provisions of the Salisbury House
Foundation by way of a Schem¢ Inade by the Secretary of State on I I Septeinber 1964 and varied and
appmved by the Charity Cominission¢r5 on 3 October 1977. The Liverpool Orphanage was originally
established in the nineteenth century and later regulated by fijrther schemes dated 1913 and 1925.
By agreement with the Charity Commissioner5 the Scheine was reoi'ganised on 21 October 1998, whereby
the various endowments were restructured into (l) Permanent Endowment Fund. (2) General Fund (3)
Education and Prize Funds, {4} the Extraordinary Repair Fund, And {5) Chapel Fund.
Under the tems of the various Schemes, the Trnstees are to perniii the land and buildings owned by the
Foundation to be used as a school for girls and boys. and it is provided that religious instruction consistent
wilh the doctrines of the Church of England shall be given at the school. The Trustees are responsible for the

Inaintenance and insurance of the property, using incoine froin the Pemianent Endowme¥Lt. The preinises are
currently in use by the Childwall Church of England Primaiy School.
Structure? governanee Ell8n8g¢rnent
Salisbury H0115e is a registeird charity, number 526739. and constituted undei. a Trust Deed dated 21 October
1998. The charity does not actively fundraise and seeks to eontinue its charitsble work through the careful
stewardship of its existing resources.
Key management per50nvel
The Trustees eonsideT the board of Tiwstees and President as cotnprising the key Inanageinent personnel of
the charity in charge of directing and controlling the charity and riinning and operating the charity on a day
to day basig. All Trllst¢es give of their tiine freely and no Tn]stee iEmuneration was paid in the year.
Ti'ustees are required to disclose all ￿levant interests and register ihem w'ith the PresÈd¢nt and in accordance
with the Trusi's policy wiihdi8w froim decision where a conflict of interest arises.
Trustee descripiions may come under several titles.. Triistee. Ex Offieio TTUStee, Foundation Governor,
Treasurer & Foundation Governor, President & Foundation Governor.
All Trustees are instructed in Ihe pract￿te of the Trust and where they are Found8tion Governors of
Childwall Church of England Primary School receive training as provided by the Liverpool Education
Authority.
Developn)enl, Acliylties Aehievenjents
Each of the varioiis Funds ha5 beell used during the year to the best advantage and the giants Jnade have
been appreciated greatly by the iEcipients.
VinaDcial Review
The Ti'ustees were pleased to provide Education Fund grants ainoiinting lo £2,978 {2023: £11,245) and
Chapel Fund grants of £Nil {2023.. £Nil}. Theie were no grants froin the Prize Fund {2023.. £Nil). The
Bndowment Fiind expenditui'e amounted to £20,545 comprising £8,365 insurance ¢ost5 and £12,180
donated to the school to cover the cost of a minibus (2023.. insurance £7,346. heat piiihp repair £1,312).
General expenses coi1)prised Governance c95ts of £2,700 (2023.. £2.1041. The total incoine in the year was
£41,465 and the total expenditure amounted to £26,285, resulting in a surplus (before investtnent
gainsllosses) in the year of £15,180. At 31 Dccember 2024 the total funds under the Ti'ustees, InaE]ageinent
was £5,254.596 {2023.' £5.214.220).
Trustees, Responsibilities in relation to the fina￿claI statements
The charity Trustees are responsible for preparing a Trustees, annual report and financial stateinent5 in
accordance with applicable law and United Kingdo1￿ Accountiiig Standards (United Kingdoim Generally
Accepted AcCounti￿g Practice).
The law applicable to charities in England and Wales require5 the charity Ti'ustees to prepare fir]ancial
stateiments foi. each yearwhich give a ti'ue and fair view of the state of affairs of the charity and of tl)e incoinin8
resoiirees and application of IEsources. of the charity for that period. In prepai'ing the financial statements, the
Trustees are required to..
select suitable a¢couniing policie5 and apply thein consistently,.
observe the Inethods aiid pi'inciples of the Charities SORP,.
Inake judge1￿entS and e5tiinates that are IEasonable and prudent.,
srate wli¢theT applicable accounting standards have been followed, subject to any Inaterial
departures that must be disclosed and explained in the financial statements,.
prepare the financial statemenis on the going concei'n basis LiTrless it is iiiappropriate to presuine
that the charity will ¢ontinu¢ in business.
The Ti'usiees are responsibl¢ for keeping proper accounting records that disclose with reasonable accuracy at
any lime the financial position of the chai'ity and to enable theim to ensuiE that the financial slatemenls cotnply
with the Chai'ities Act 2011, the applicable Charities (Accounts and Repoils) Regulations, and the pi'ovisions
of the Trust deed. They are also responsible for safeguarding the as5et5 of the charity and taking reasonable
steps for the prevention and detection of fraud and othei. irre8ularitie5.

Jnvestment policy athd performance
The Trustees have aligned their investjnenl policy with that of the Charities Official Investment Fund
Managers. On original investlYl¢Dt thc capital of the various fvnds were allocated:
75 /0 in F4uity Units yielding growth ovei. the IoDg term
250/0 in Fixed Int¢i'est Units aimed to provid¢ a high inctsme yield
Monies deemed to be required for building projects are placed on dekx>sit with COIF and accumulated income
balance5 are on bank deKK)sit.
Reserves Policy
The Extraordinary Repair Fund reserve is i'equired to ineet the Trustees, contribution to new building costs.
D¢pending upon Governinent Policy at the tllne the Trustees consider a required contribution by thejn of100
of replaceinent building costs to be a reasonable ta]get.
The Trustees endeavour to distribute the accujnulaled in¢oine 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 m¢¢1 the ongoing adtninistration of the Trust together
with anticipated supplements lo the other funds.
Rlsk m&rtagement
The Trustees rcvjcw th¢ major risks at tri-annual Ineetings and have established systeins to minimise these
risks.
Recruitment of new Trustees
Recruitment of Trustees is Ca￿led out to appoint trustees in keeping with the best interests of the Trust.
New Trustees are recruited on the basis of theiT prOfe￿lOn&1 skills and work eX￿rience. Prospective
Trustees are approached if they have a professional Skill or r¢lev8nt work expcrience, that ihe Trustees
believe would benefit the Ti'ustee board. or if a new Trustee is required to replac¢ a Trustee with a particular
profession or skill.
TraI￿l￿g
Upon appoiftbnent, new Trustees are provided with a f21e of infomiation on the histoiy of the Trust at)d its
responsibilities towards the school.
Safeguarding
Trustees should keep up-to-date with safeguarding changes in line with school governor training.
Trttstees do not require DBS checks to be made as they do not perfonn any regulated activity with adults or
hildren. Neveiiheless, whei'e Trustees hold govei'nor positions with Childwall Church of England Primary
School, they are i"equired to have a DBS check carried out through school processes and to read and sign
acknowl¢dgeinent of the school's Safeguarding Policy.
Non-DBS-cheeked Trnstees who are on school preinise5 where piipils are Still present Inu5t Inake sure that
they ar¢ accoinpanied at all times by a meinber of school staff, oi. DBS-¢h¢¢ked Trustee.
Open and Positlve c￿lture
The Trust proinotes a fair, open and positive culture. All Ti'ustees are able to report con¢¢rn5, confident that
they will be heard and responded to. Concei'n should be reported to the Secietary of the Trust in ¢onfidence
for investigation by a quorum of Trustees, independent of the concern raised.
Plan5 for the future
The Trustees will continue to provide the PTanises for Childwall Church of England Primary School and i
particular accumulate a resource toward5 the replacemeni ofrhe building. They will continue to support
pupils and fonner pupils in their personal and a¢ad¢mic development and achievejnents through awards and
grants.

Public Benefit
The charity's Trustees have complied with the duty in section 17(5) of the Charities Aet 201 I to have due
regard to public benefit guidance published by the Charity Commission.
On behalf of the Trustees
11(cL(Il
NPye
President
12 May 2026

tNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SALISBURY HOUSE TRUST
I rew)rt to the Trustees on my examination of the accounts of Salisbury House (the charity) for the year ended 3 I
December 2024.
Thi5 report is made solely to the charity's Trustees, as a body. in ac¢ordan¢¢ with Seetion 145 of the Charit1¢5 Act
2011. My examination ha5 been undertaken so that l rnight state to the charity's Trustees those Jnatt¢rs l am required
to state to them in an Independent Exajniner's report and for no other purpose. To the fullest extent permitted by law,
I do not accept or assume responsibiliLy lo anyone other than the charity and the charity's Trustees as a body, for my
examination, for this report. or for the opinion5 1 have form¢d.
Responsibilities and basis of report
A$ th¢ Trustees of the ¢harity you are responsible for the preparation of the accounts in a¢eordance with the
requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of Iny examination of the charity'5 a¢¢ounts ¢airied tsllt under section 145 of the 2011 Act. In
arrying out Iny Qxamillation I have followed all the applicable Directions given by the Charity CoiJmÉs5ion under
section 145{5)(b) of tlie 201 l Act.
Independent examiner'5 statement
Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and
Reporting by Charities preparing their accounts in accordance with th¢ Fsnancial Repoiling Standard applicable in
the UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charitl¢5.' Stateihent of
Retommended Practice issued on l April 2005 which is referred to in the exiant regulations but has now been
withdrawn.
l understand thatthi5 has been done in order for accounts to provide a tNe and fair view in a¢cordan¢¢ with Generally
Accepted Accounting Practic¢ effective for reporting perÈods beginning on or after l January 2015.
I have completed my examination. I confIrni that no matters have come to my attention in connection with the
exainination giving ine cause to believe that in any matei'ial respect:
accounting rec02xls were not kept in respect of the charity as required by section 130 of the 2011 Act; or
the accounts do not accord with those re¢ords,' or
the accounts do not comply with the applicable requirements concerning the form and ¢ontent of accounts set
out in the Charities (Accounts and Reports} R¢gulations 2008 other than any requirement that the accounts give
a true and fair view which is not a matter considered as part of an ind¢pendent exaininatioii.
I have no ¢on¢erns and have come across no other matters in Connection with the examinatiort to which attention
should be drawn in this report iti order to enable a proper und¢r5tanding of the accounts to be reached.
Mr Tony Stanley ACA
Mitchell Charlesworth
Suites C, D, E &F, 14di FIooT, the Plaza
100 Old Hall Street
LiYeTpooI
L3 9QJ
Dated.. 13 m.ay. 2.Q.2F.

SALISBURY HOUSE
STATEMENT OF FINAf4ciAL ACTIVITIES
For the year ended 31 December 2024
Note
Unrestricted EndoTrvrnent Restricted Deslgnated
Fund
Funds
Funds
Funds
Total
2024
Total
2023
ID£ome and
endowments
Investiment incoine
18.651
Total income
18.651
41,465
Expellditure
Expenditure on
charitable #ctivÈties
Ediication
Other expendlture
2,978
2,978
23,307
11,425
10,824
Total Expeiidlture
2.762
20,545
2,978
26,285
22,249
Net g9insl(losses) o
investments
Net gginsl{105ses) o
rixed 85sets
10
4,843
13,056
4,125
3,173
25,197
88,174
Net
(expenditure)lincorne
10,341
1,162
7,478
11,395
40.376
104,109
Funds fit l JiNuary
2024
310397
4 460 164
218348
5 214220 5 110 111
Funds At 31
Deeember 2024
16
320 738
4 471,326
225,826
236.706
5,254,596 5,214,220

SALISBURY HOUSE
COMPARATIVE STATEMENT OF FINANCJAL ACTtvrrJES
For the year ended 31 De¢ember 2023
Note Unre51ricled Endowment Restricted Designated
Fund
Funds
Funds
Funds
Total
2023
Total
2022
Incorne and endowments
Investhnent incoine
7.655
17,504
7,212
38,184
Total ineome
31,342
Expenditure
Expenditure on charitable
activities
Education
Other expertdlt￿re
11,425
11,425
3.267
21,774
Total Expenditure
2,166
8,658
11,425
22.249
25,(Ml
Nel gainsl{lossesl on investments
Not g#lnsl{losses) on fixed assets
10
15,576
46,884
14,174
11,540
88,174 {131,891)
270,925
Net (expenditure)lincome
21,065
55,730
8,562
18,752
104,109 1396,515)
Funds at l January 2023
289331
4.404.435
209.786
206,559 5.110,111 5,506 626
Funds 8131 Decernber 2023
16
310,397
4460 164
218 348
225311 5214220 5 110111

SALISBURY HOUSE
BALANCE SHEET
Ai 31 De¢¢inber 2024
Note
Ullre5trict¢d Endoivrnellt
Fund
Funds
Restricted Designated
Funds
F￿ndS
Total
2024
Total
2023
Tgnglble
Flxed
Assets
Inveslinent
Property
Investments
3,815,000
581,304
3,815,000 3,815.000
1 107.823 1.082.626
10
205.556
178 904
142 059
205,556
4,396.304
178904
142.059
4,922.823 4.897,626
Current
Assets
Bank
120 594
120 594
359 016
359 016
326 533
326 533
Current
Liabilitie5
Creditors
5,412
18,664
27.243
Net
Current
Assets
75,022
46,922
331,773
316594
Tolal
8sset5 less
eurrent
320.738
4.471,326
225 826
236 706
5 254 596 5.214.220
The Fund$
of the
Chgrity..
UnrcstTlCted
Funds
Endowinent
Funds
Restricted
Funds
Designated
Funds
Revaluation
Resei've
Total
ehayity
funds
12
320,738
320.738
310.397
13
2,152,639
2,152.639 2,141,477
14
225,826
225,826
218,348
15
236.706
236,706
225,31
2,318,687
2,318,687 2,318,687
16
320,738
4,471,326
225 826
236 706
5,254,596 5,214,220
10

SALISBURY HOUSE
BALANCE SHEET
At 31 December 2024
The notes at pages I I to 20 foi'jn part of the5¢ ac¢ounts.
Approved by the Trustees on 12 May 206 and signed on their behalf by..
Trl Pye
President
I P '&ENJI

SALISBURY HOUSE
IVOTES TO THE FINANCIAL STA TEMENTS
Foi. the yeai. ended 31 tkceinber 2024
Charity Information
Sali5biiry House i5 a UK registered charity. The principal address 66 Childwall Park
Avenue, Liverpool, L16 OJQ.
2. Aceounting Pollcles
Basis of preparatlon and #ssessmtnt ofgoing eoDcern
The accounts Ifjnancial staleinents) have been prepared under the historical cost ¢onv¢ntioD
with iteJll5 recogni5ed at cost oi. transactlon value unless otherwise stated in th¢ relevant
nutel5) to these accounf5. The f￿anCIal statejnents have been pi'epared ill accordance with
the Stateinent ol. Recognised Practice.. Aceoiinting and Repoiting by Chai'ities preparing
their accoLint5 in accoi'dance with the Financial Reporting Standai'd applicabl¢ iti the UK
and Republic of Iieland IFRS102) issued on 16 July 2023 and the F inaneial Repoiling
Standard applicable in the United Kingdoin and Republic of Ireland IFRS102), effective I
Januaiy 20191 and the Charities Act 2011.
At the tij￿e of appi'oving the accounts the Trustees have a rvdsonable expectation that the
chai'ity has adequate re50uiees to continue in operational existence foi. tlie foreseeable
future. Thus, the Ti'ustees continue to adopt the 'going concern, basis of aicounting in
PJEpai'ing the accollnls. The ac¢oiints are piEpaiEd in sterling, which is ihe funLtional
cuffeiicy of the ti'llst. Monetary ainounts in these fJnan¢ial stateinenls are rouiided to tlie
nearest £.
The accounts have depailed from the Charities {Aecounts and Reports) Regulations 2008
only to the extent iequired to provide a true and fair view. This departiire has involved
following the Siateiiien¢ of Recoininended Practice for Lharilie5 applying FRS 102 rather
than the version of the Stateinent of Recominended PractlLe which is iefei'red to in the
R¢gulattons but which has since been withdrawn.
The Charity has taken advantage of the provisions in the SORP for Chai'ities applying FRS
102 Update Bulletin I not to prepare a Slateinent of Cash Flows.
Incoine recognition
All incoiiie will be recognised once the ti'ust has entiileinent to the incoine, it is probable
that the incoine will be received and the ainount of incoine IEceivable can be Ineasured
b)
Interest on funds held on deposi( is ittcluded when receivable and the ainount can be
Ineasured i¢li¢ibly by the Iiiist; this is noTmally ilPDn notilication of the intejesl paid or
payable by the bank or investment Inanager.
Expenditure recognition
Liabililies are iecognised as expenditure as soon as theie is legal oi. constructive obligation
oiniiiitting the Charity to that expenditure. it is probable that settleinen( will be required and
tl)¢ amount of the obligation can be Ineasured reliably.
All expendilui'e ￿S accounied for on an aLcruals basis. All expenses including gov¢m3n¢¢
costs are allocaLed or apporiioned (o the applicable expenditui'e headings.
Grants payable aTe payinent5 Inade to cyi'rent or foiiner pupils in financial need to enable
them to further their education, 91. prizes awarded to ¢iiirent pupils for attaininent in some
8IEa, e.g. attendAtace. Grants are accrlled oTr¢¢ the r¢¢ipient has been notified of the grant
award.
d)
Grant making policy
The tri￿1 has established its grant It)aking policy to aehieve it5 object5 foT the public benefit.
Irrecoverable VA T
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
12

SALISBURY HOUSE
NOTES TO THE FINANCIAL STA TEMENTS
For the year ended 31 December 2024
Allocation of support and governance costs
Governance costs comprise all costs involving the public accountability of the charity and
its compliance with regulation and good practice. These costs include cost5 related to
independent ¢xarnin?tion and legal fees together with an apportioNnent of overheads.
CharltAble Aetlvltles
Costs of charitable activities include grants made, govemance costs and other relevant
expenditure.
Flxed asset investrnents
h)
Investments are a fonn of basi¢ finan¢ipl insts￿ment and are initially recognised at their
transaction value and subsequently Ineasured at IheiT fair value as at the balance sheet date
using the closing quoted market price. The statement of finallcial activities includes the net
gains and losses arising on revaluation and disp05a15 throughout the ye8r.
The main for1￿ of financial risk faced by the charity is that of volatility in equity markcts
2nd inve5ttnent mai'kets due to wider etonomic conditions, the attl￿de of investors lo
investinent risk, and changes in sentiment concerning equities and within particular sectors
OT sub sectors.
Impairment of fixed asse(s
At Cach reporting end date, the charity reviews the carrying ainoiints of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in ordei. to
determine the extent of th¢ ijnpairment loss (if any)-
Inv¢5tfflent Property
The property at Woolton Road, Liverpool, is capitali$¢d at valuation.
Reali5ed gain5 and lo$$e$
All gains and losses are taken to the Statement of Finan¢ial Aclivities as they arise. Realised
gains and losses on investments are calculated as the diff¢r¢nce between sales proceeds and
theii. opening catrying value or their pui'chase value if acquired 5ubsequenl to the first day
of the financial year. Unrealised gains and losses are calculated as the difference between
the fair value at the year end and their ¢ai'iying value. Realised and unrealised investment
gains and losses are combined in the Stateinent of Financial Activities.
Taxation
i)
k)
The chaTity benefits from various exemptions from taxation afforded by tsx legislation and
is noi liable to COTP012tion tax on income and gains falling within these exeimptions.
Restricted funds
Restricted funds are used for the purposes specified by the donor. Expenditure which ineets
the criteria is identified to the fund.
Unrestricted funds
Unrestrtcted funds are donations and any other income Irceived or g¢nerdted for the objects
of thc charity without further specified purpose and are ayailable as separat¢ ￿nds.
Design*ted fund
The designate fi]nd holds earn]arked resources towards the development and ieplacement of
the preinises. A transfer of costs and funding is made when developinents in progress are
compl¢t¢d and fully funded by the conti'ibuting parties.
Grants received
p)
Grants re¢eived towards capital expenditure on the building are included in the financial
stat¢m¢nts when received.
13

SALISBURY HOUSE
NOTES TO THE FIIVANCIAL STA TEMENTS
For the yedr ended 31 DeceJnbeT 2024
q)
Endoiyrnent funds
Incoining resources f¥oin endowineni funds are restricted.
Financial Instruments
The charity has elected to apply the provisions of Section I I 'Basic Financial Instruinenls.
and Section 12 '0iher Financial Instruinents Issues, of FRS 102 to all of its financial
insthilinents.
Finaiicial instruinents are reeognised in the charity's balance sheet when the charity beeoines
party to rhe contractual provisions of the in5triiin¢nt.
Financial assets and liabilities are offset, with the nel amounts presented in the financial
Statements, when there is a legally enforceable light to set off the ieeognised amounts and
there is an intention to settle on a net basis or to iealise the asset and settle thejsability
simultaneously.
Basic financial assets
Basic financial assets, whicli ineliide debtors and cash and bank balances, are initially
Ineasui'ed ai Iransaciion prite includinLF transaction costs and are subsequently caiiied at
amoiiised ¢ost using the effective interest method unless the arrangeinent ¢onstitiite5 a
financing h'an5action, wliere tlie ti'ansaction is Ineasured at the pirsent value of ihe future
IE¢¢ipt5 discounted at a market rate of interest. Financial assets classifjed as receivable
within one year are not amortised.
Basic financial instrufflents
Basic financial liabiliiies. including creditors and bank loans are initially rwognised at
trydn5aCtion price unless th¢ ari?ng¢ment Constitutes a financing transaction, where the debt
instsuinent is Iiieasui'ed at the pi'esent value ot'the future i'eceipls discounted at a Jnaj'ket J'ate
of inteiESt. Financial liabilitie5 ¢lassified as payable within one year al'e noi ainortised.
Debt iiistruinenls are subsequently carried al amortised cost, Using tht effective interest rate
Ineihod.
Trade creditors are obligations to pay for good5 or services that have been acquired in the
ordinary course of operations fro1￿ supplie13. Aillounts payable al'e classified as ciii'rent
liabiliiies if payinent is dlle within one yeai. or less. If not, they are presented as non-current
liabilities. Trade creditors are recognised initially at transaction pi'ice and 5ubseqLiently
Imeasiii'ed at ainortised cost using the effective intei'est Inethod.
DereeognxtioN of fin8llCi81 liabilities
Financial liabilities air deircogRised when the chai'ity's contractual obligations expir¢ or air
discharged or caneelled.
Critic81 aecounting estlmates and Judgements
In the application Of the chai'ity's ac¢ounting policies, the Trustees are required to Inake
jlldgements. estiinates and as5llmptions about the canying ainount of assets and liabilities
that are not readily apparent from other souire5. The estiinates and associated assuinptions
are based on histoi'ieal experience and other factors that are considered to be relevant.
Actudl results Inay éiller froni these estimates.
14

SALISBURY HOUSE
NOTES TO THE FIJVANCIAL STA TEMENTS
For the year ended 31 D¢¢¢inber 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting ¢stiinates are recognised in the period in which the estimate is revised where the
IEvision affects only that peri(Kl, OT in th¢ period of the r¢vision and future periods where
the revision affects both current and future peri(Kls.
There were consEdered to be no critical accounting estimates or judgements applied in the
preparation of these financial stateinenl5.
t} Cssh and eash equiv8lenls
Cash and cash equivalenls include cash in hand. deposits held at call with banks, other
short-temi liquid inveslinents with original maturities of three months OT less.
3. Related party transactions and Trustees, expenses and remuneration
The Trustee5 all give freely of their tim¢ and expertise without any forni of remuneration or other
benefit in ￿$h or kind (2023.. £nil}. There were no related paty transactions in ihe year.
4. Investment income
2024
2023
Income from COIF Charities lrtvestsnent Fund
Incoine from COIF Charities Ethical Investment Fund
Incoine from COIF Charitie5 Fixed Interest Fund
Income from COIF Charitie$ D¢posii Fund
Interest on cash deposits
27.469
246
2,258
8,288
27.086
241
2,004
6,794
Alloealion of governance costs
2024
2023
Independent examination fee
2,700
2,104
2,700
The Trustees have decided to Ineet all governance costs fvom unrestTiCt¢d funds and so no allocation
or chdrge is made to resti'i¢ted fvnds for any governance Telated cost5. All govemance costs are
allocated to general expenses.
15-

SALISBURY HOUSE
NOTES TO THE FIIVANCIAL STA TEMENTS
For the year ended 31 December 2024
6. Analysis of cbarilable expendlture
Unrestricted
Fund
Endowment
Funds
Restricted Designated
Funds
Funds
Total
2024
Total
2023
Education
Other expenditur¢'.
Insui'ance
Minib115 doiiation
Repairs &
Maintenance
GeneTal expenses
(note 5)
Bank chai'ges
2,978
2.978 11,425
8,365
12,180
8.365
12,180
7,346
1,312
2,700
62
2,700 2,104
62
62
26 285 22 249
2.762
20,545
2023
11,425
7. Analysis of remiiner4tion of key managemenl personnel
The Trust considers its key Imanagement pe￿Onnel coinprise the Tru5tee5 2nd the President. None
of the Trustees received any reimuneiation irÈ the year {2023'. £nil). Also, none of th¢ Trustees
received any expenses in the year (2023.. lnil).
Employees
There were no employees duiing the year (2023- nil).
Investment Propei'ty
Freehold property sitiialed at Childwall ChuTch of England Primaiy School, Woolton Road,
LiveTPQOI..
At31
tkcember
2024
At l January
2024
Moveinent
in Year
At cost
1,496,313
1,496,313
Unrealised gain on Revaluation
on 30 Novejnber 2004
on 18June2010
on 6 October 2024
1,162,970
1,426,642
{270,9251
1,162,970
1,426,642
(270,9251
3 815.000
3 815,000
16

SALISBURY HOUSE
OTES TO THE FINANCIAL STA TEMENTS
For the year ended 31 Deteinber 2024
Contributing elernent5:
Resoui'ces of tlie Trustees of
Salisbury Hous¢
Grants from Liverpool Education
Committee
Grants froim the Depathnent for
Education and Skills
School Resources
Arising on Revaluation
565,507
565,507
242,919
242,919
655,054
655,054
32,833
2318687
3815,000
32,833
2,318,687
3 815,000
Th¢ freehold propety was valued on 6 October 2024 by Eddison5. The propety was valued at
£3,815,000 current market value based on Depreciated Replacement Value basis.
10. Fixed Asset Jnvestments
2024
2023
Market value at l January 2024
Unrealised Revaluation {L05s) I Surplus
1,082,627
25,196
994,453
88,174
Market value at 31 December 2024
1 107823
1082,627
Inve5ttnent at fair value
Cornprised:
All investments are carried at their fail. value. Liquidity risk is anticipated to be low as all assets
arc traded and the cominitment to intervention by central banks and maTket regulators has
¢ontinu¢d to provide for orderly trading in the markets and so their ability to buy and sell quoted
equities and stock is anticipated to continue. The Trust's investment5 )TC mainly traded in markets
with good liquidity and high trAding volumes. The Trust has no material investment holdings in
Inarkets subject to ¢xchange controls or trading restrictions.
The Trust Inanages these investinent i'isks by retaining expert advisors and operating all investment
policy that provides for a high degree of diversifEcation of holdings within investinent classe5 that
ar¢ quoted on recognised stock exchanges.
Original
cost
Market
value
2024
Markel
value
2023
Charities official Investment fund incorne shares
COIF Ethi¢al invesimeni income units
Chariti¢5 official Investment fund Fixed Interest shar¢s
293,052
5,000
98,025
1,008,930
8.660
90,233
986.641
8,429
87,556
396 077
1.107,823
1082 626
17

SALISBURY HOUSE
NOTES TO THE FINANCIAL STA TEMENTS
Foi. the yeai. ended 31 December 2024
I l. Analysts of current liabilities
Total
2024
Total
2023
Accrual for..
Independent Exaininarion fee
Ediication grants
Insurance
Minibus
5,412
3,167
6,484
3,912
383
5,644
12. Umrestricled lunds
2024
2023
At l Jaiillaiy
MovenTreJit in Funds..
Incoming
Expenditure
Gains
310,397
289,331
8,260
12,762)
4,843
320 738
7,655
{2,166)
Ar 31 Deceinber
310.397
13. Endowment Funds
Moveinent ITI Funds
At31 Dec
2024
At l Jan 2024
Incojning
Expenditure
Gains
Peiinanent Endowinent
Fund
Expendable EndOw1￿ent
Fund
4,233,150
4,233,150
227014
13,056
13,056
238 176
4471.326
Ttslal Endown)ent Fund
4 460 164
Moveinent in FLinds
At31 Dec
2023
At l Jan 2023
In¢oining
Expenditure
Gains
Pennanent Endowinent
Fund
Expendable EndowEnent
Fund
Total Endowment Fund
4,233,150
4,233,150
171285
17,504
17,504
8.659
8.659
46,884
46,884
227.014
4 460 164
4,404 435
The Endowment Fund relates to the original endowinent atkd in¢oine ai'ising thereon. Expenditure
for the tnaintenante, 5ecu¥ity and insurance of the property is Inet from incoine arising.

SALISBURY HOUSE
NOTES TO TIIE FIJVANCIAL STA TEMENTS
For th¢ year ended 31 December 2024
14. Restrleted Funds
Mov¢Jnent in Funds
At31 De¢
2024
At l Jan 2024
Incomtng
Bxpenditure Gains
Education Fund
Prize Fund
Chapel Fund
181,351
23,008
5,352
622
357
(2,934) 3,420
474
187,189
24,104
44
231
218348
{2,978
225 827
Movement in Funds
At31 Dec
2023
At l Jpn 2024 Ineoming
Expendi￿re
Goins
Educaiion Fund
Prize Fund
Chapel Fund
177,264
20.202
4.905
589
320
{12.561) 11,743
540 1,677
596
754
181,351
23,008
209.786
218 348
The Education Fund i5 to be used to pi'omot¢ the education of persons under the age of 25 who are
pupils or former pupils of Childwall Chui'ch of England Priinary School, who are in need of
financial a5SiStance.
The Prize Fund is to be used for the award of annual prizes to pupils or fomjer pupils of
Childwall Church of England Priinary School in recognition of their achievements.
The Chapel Fund is to be used to acquire equipinent, religious artefacts, furniture and other items
which Inay. froin tim¢ to time, be deiermined for the purposes of Christian worship, teaching and
fellowship.
15. Designated Funds
2024
2023
At l January
225,311
206,559
Movemeni in Funds..
Incoining
Gains
8,222
7,212
11.540
225.311
At 31 December
236,706
The Exh'aordinary Repair Fund has been ¢arniarked by the Trustees towards the d¢velopinent and
th¢ replacement of the school premises when the existing building 15 no longer economic or viable.
19

SALISBURY HOUSE
JvorES TO THE FINANCIAL STA TEMENTS
For the year ended 31 Deceiiiber 2024
16. Analysi5 of net assets between lunds
Tangible
rixed
assets
Net Current
Inveslinents
Assets
Total
Restrleted Funds
Education Fund
Prize Fund
Chapel Fund
149,267
20.977
8,660
178,904
39,058
2,587
5,277
46,922
188,325
23,5&1
13,937
225,826
Endowment Fund
3,815,000
581,304
75,022
4.471.326
De5ign2ted Fund
142.059
94,647
236,706
3.815,000
902,267
216.591
4,933,858
Gelle￿1 Fund
205,556
115,182
320,738
3,815,000
1,107,823
331,773
5,254,596
17. Financial Instruments
2024
2023
Carrying Amollnt of fiN8ncig1 assets
Debt instiuinenls Ineasured at ainoi1ised
C05t
IDsttuinents measured at faii. value through the SOFA
359.016
326,533
1,107,823 1,082,626
Carrying ￿￿oUnt of fingmcial liabilities
Measui'ed at atnortised
cost
27,243
9.939
18. Post BalaRce Sheet Events
Childwall Church of Englalld Priinary School joined the Belong MuliTr Acadeiny Ti'ust aftei the year-
end date.
20-