FORWARD IN FAITH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Registered charity number. 1057246

Page I
FORWARD IN FAITH
LEGAL AND ADMINISTRATIVE INFORMATION
11
MEMBERSHIP OF THE EXECUTIVE COMMITTEE
Under the Constitution of Forward in Faith, the members of the Executive Committee are the Trustees of the
Charity. In 2021 the membership of the Executive Committee was as follows:
The Rt Revd Tony Robinson
Dr Lindsay Dixon
The Revd Ian Mccorniack
Mr Jonathan Prichard
The Rt Revd Jonathan Baker
The Revd Paul Benfield
The Revd Philip Corbett
Dr Richard Mantle
The Revd Edward Martin
Mrs Hannah Phillips
Chairn]an
Lay Vice-chairnian
Clerical Vice-Chairn]an
Treasurer
Co-opted
Co-opted
Elected by the Council
Co-opted
Elected by the Council
Elected by the Council
Mr Tom Middleton (Director) was in attendance at meetings of the Executive Committee.
BANKERS
INDEPENDENT EXAMINER
Lloyds Bank plc
98 Victoria Street
London SWIE 5JL
Mr Greg Stevenson FCA
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London EC3A 2AD
CHARITY ADDRESS
2A The Cloisters
Gordon Square
London WCIH OAG

Page 2
FORWARD IN FArrH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2021
The Trustees present their annual report for the year ended 31 Dettmber 2021 under the Charities A¢t 2011,
together wilh th¢ audited a¢¢ounts for the year, and confirm that the latter comply with the requirements of th¢
ACL the Charity's governing document and Charities SORP (FRS 102) issued in 2019.
Objec¢iv¢s
The Charity is established 'to advance the Chrtstian religion by promoting the spread of the catholic faith in
accordan¢¢ with the traditional understanding of th¢ historic a[￿OlIC succession, the ministry of bishops and
priests, and full ecclesial Communion,.
Forward in Faith afifimis the catholic faith &s the Church of England r￿e1Ved it and proclaims it afresh in this
generation. It upholds catholic order and the catholic doctrine of the Sa¢raments, and in particular the
threefold ministy, which the Church of England shares with the Church throughout the world and across the
ages. It seeks the visible unity of Christ's Church. li achi¢v¢s its objectives in a variety of ways, includin8
through the magazine New Directions aTKI other publications and by suptK)rting the Catholic Group in General
Synod. Its Constitution empowers it to SUPFKJrt The ScKiety. established under the patronage of Si. Wilfrid and
St. Hilda
wsh.com , as an ecclesial structure with a ministy and sa¢rdments in which th¢ faithful can
have confidence, so that they can flourish within the life and Struc￿reS of the Church of England. It provides
advice and SUPEM)rt to the Society's bishops, to parishes. and tt) individual members of the clergy and laity.
The Trnstees have had regard to th¢ Charity Commission's guidance on public FKnefit. They are satisfied that
the Chariry's work is for the benefit of the public mission of the Church of England and for the benefit of her
m¢mbers, &8 well &s that of all those outside the Church to whom its clergy and people minist¢r.
Activitie4 AchievemeDts and PerforniaM¢e
As with altnost all other organisations. th¢ COV11>19 pandemic continued to play a major part in the
Charity's functioning during 2021. Trustees continu¢d to make the Case lor churches to be kepl open,
wherever and whenever that was safe. so that public services could be held, and the saeraments be made
available. Thankfully. it would appear that the worst of the pandemic is now over, and church life should be
able to return in full to something like norniality.
The pandemic meant that a National Assembly could not be held in 2021 but there is a National Assembly
Scheduled for 28 May 2022. UTbder a Sei of changes prowjsed to the Charity's Constitution. and on which the
membership of Fonvard in Faith ha5 been consulted twice (on¢¢ on the principle and once on the detsil), it
would be the last such National Assembly. The National Assembly would be repla¢¢d in part by an Annual
Meeting and there would be a new approach to ¢I￿ting clergy and lay members onto the Ex¢¢utive via a one
member-one vote system.
During 2021, the editorship of the Charity's highly regarded monthty publication, New Direclions, passed
from Fr Philip Corbett (who came to the end of his second spell as Editor) to Fr Simon Walsh. The publication
remains the besi and principal, means of keeping in touch with Tnembers. The trnst¢es' thanks go to Fr
Corbett for his two tern15 of servic£ as Editor and to Fr Walsh for agre¢in8 to take on the role, which is a
voluntary one.
Fonvard in Faith provided resourc&s in SUPIM)rt of the Catholic Group's candidates for the Generdl Synod
elections. which had been delayed from 2020 to 2021 as a result of the pandemic. Overall numbers elected
were slightly down on the 2015 election but that was not wholly unex￿ted, given the issues debated during
the election and trends in church membership. The trustees were sad to learn of the death of Clare Lees later in
2021. who w&s one of the three members of staff engaged on elections work. May Clare rest in peace.
Grant funding from the Catholic AFK)Stolic Church Trust enables the Charity to employ a Chapllin, who
celebrates Mass on ccrtain weekday5 in the English Chapel. currently Tucsdays and Thursdays but shortly to
be expanded to "Euesdays, Wednesdays and 'lThur5days, and conducts 3 cycle of prayer for b'orward in Faith
supw)rteTS and parishes.

Pag¢ 3
FORWARD IN FAITH
TRUSTEES. REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
The trustees of Forward in Faith were saddened to hear of the death on 12 January 2021 of Sister Mary Teresa
SSM, sometime Reverend Mother of the Priory of Our Lady of Walsingham, a member of the first elected
Forward in Faith Council, a founder of Religious of Orthodox Tradition (ROOT), and also the deliverer of the
Devotional Address at the first Forward in Faith National Assembly. May Sister Mary Teresa rest in peace.
Forward in Faith continued to support the work of The Society under its Council of Bishops. Priorities for
The Society included initiatives in the areas of missions, vocations, and communications.
Future plans
In 2022 the Charity plans to continue with the work describcd above. In particular, Forward in Faith will
develop plans which airn to increase individual membership numbers, hold its first National Assembly for
two-and-a-half years in May 2022, and move office from Gordon Square to St Andrew, Holborn in July 2022,
while continuing to support the work of The Society.
FINANCIAL REVIEW
Financial Position at the Year End
The Charity's unrestricted General Fund increased from a level of £1,021,236 as at 31 December 2020 (of
which £70,180 was restricted) to a level of £1,057,559 as at 31 December 2021 (of which £80,573 was
restricted). Trustees are mindful, though, that income from legacies cannot be relied upon and that there is
further work to do to establish a financially sustainable 'base' budget for the Charity, encompassing all
annually recurring items of income and expenditure.
Reserves
The Trustees are aware of the Charity Cornmission's guidance with regard to reserves. As set out above, the
General Fund has been built up to such a level that reserves equivalent to multiple years of expenditure are
available, should they be required.
Investments
Investments stood at £844,739 as at 31 December 2021, increasing substantially from the level of £758,750 as
at 31 December 2020. Income from investments plays a part in funding the work of the Charity.
Golng Concern and Deficits
The trustees are satisfied that there are no uncertainties with regard to the continuance of the Charity as a
going concern. No funds of the Charity are in deficit.
Risks
The Trustees have identified the Charity's principal risk as a financial risk arising from a decline in
membership subscriptions from individual donors. A working group has been estsblished to think through
how the number of individual members can be increased, balancing the benefits provided by the advocacy
work undertaken by Forward in Faith on one hand and by the catechetic and devotional resources provided by
The Society on the other.
11
REFERENCE AND ADMtNISTRATIVE INFORMATION
The name of the Trustees, the Charity, s prirAcipal address and particulars of the Charity's professional advisers
are given on page l. Further inforniation about Forward in Faith can be found on its website:
www.forwardinfaith.com

Page 4
FORWARD IN FATTH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2021
contittyed
STRUCTURE. GOVERNANCE AND MANAGEMENT
Colls¢itutio
The Charity is an unincorporated ass(Kiation. It is gov¢rned by a Constitution adopted by the National
Assembly in 1994 and amended by the Natiotthl Assembly on 20 October 21x17. 19 Octokr 2013 and 14
November 2015. This provides for a Council consisting of members ele¢t¢d by the National Assembly. ex-
officio members and C(￿opted member5.
Trustees
The management and control of th¢ (Trganisation 15 exercised by an Exrfutive Committee. whose members
are the Trustees of the Charity. The Executive Committee consists of:
A Chaitman, Clerical Vic¢-Chairn]an and tay Vicfrchairnian (elected by all the m¢mbers of the
National Assembly).
Three members of the Council (elwted by the Council).
The Treasurer (apw)inted by the Executive Committtt with the approval of the Council).
Three members with relevant expertise (COTrOPted with the approval of the Council).
Organigational Manggement
The day-to-day management of the Charity is in the hands of the Director, who works for the organisalion on
a fi&ll-time basis and has the right to attend all meetings of the Council and Ex¢¢utive Committee. He is
assisted by a part-time Administrntor. Systems of internal financial control (approved by the Trustees in 2014
and revised in 2017) and Grievance, Disciplinary and Safeguarding Policies (approved by the Trustees in
2016) are in place.
Benchmarks for Staff Remuneration
After wmpletion of any probationary period. lay staff members are paid at the current sthndard point (for
hourly-paid staff, the hourly rate) of the appropriate band of the National Church Institutions, pay bands
identified in their COntr￿ts of employmenl (pro rata in the case of part-time ¢mployees)- The Chaplain is paid
the current stipend for clergy in the Di￿¢S¢ of iA)ndon of incumbent status (pro rata), together with a housing
allowance, as established in 2015 and at the level of th¢ Dio¢¢s¢ of LA)ndon's housing allowance for clergy of
incumbeni status (pro rata).
Relaled Pirtleg
The Chairnian is a Trustee of th¢ Additional Curdtes Society (a charity with related objects) which undertakes
provides some printing and distribution services to the Charity.
The Charity sup￿rtS the Catholic GTOUP in Generdl Synod IKyth financially and through th¢ work of the
Director. The Chairnian of the Catholic Group is a Trustee.
A Conflicts of Interest Policy, adopted in 2013. is ID place. Trustee5 withdraw from discussions in respect of
matters for which they have a conflict of interest.

Page 5
FORWARD IN FAITH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
STATEMENT OF TRUSTEES? RESPONSIBILITIES
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with
applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the
trustees to prepare financial statements for each financial year which give a true and fair view of the state of
affairs of the Charity and of its financial activities for that period.
In preparing those financial ststements the trustees are required to:
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.
state whether the policies adopted are in accordance with the statement of recommend practice
'Accounting and Reporting by Charities, and with applicable accounting standards, subject to any
material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at
any time the financial position of the Charity and to enable them to ensure that the financial statements
comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and
hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
INDEPENDENT EXAMINER
Knox Cropper has intimated its willingness to act and will be proposed as Independent Examiners in the next
meeting before which the accounts are laid.
On behalf of the Trustees
The Rt Revd Tony Robinson, Bishop of Wakefield
Chaim]an
Date: 25th April 2022

Page 6
FORWARD IN FAITH
REPORT OF THE INDEPENDENf EXAMINER
TO THE TRUSTEES
I report to the trustees on my examination of the accounts of Fonwd in Faith (the Charity) for the year ended
3 1st December 2021 which are set out on pages 7 to 19. This report is made to the Trustee5, 85 a body. in
accordance with the temls of my engagement. My work has been undertaken so that I might cary out an
Independent Examination of the financial statements in accordance with the General Directions given by the
Charity Commissioners. To the fullest extent p¢m)itted by law. I do not accept or a55um¢ reS￿nsibIlity to
anyon¢ other than the Charity and the Charity's Trustees a FKMIY for my work or for this report.
Ruponsibiliti￿ and b&gis on report
As the Charity TTUStees you are responsible for the preparation of the accounts in accordance with the
requir¢m¢nts of the Charities Act 2011 ('th¢ Arf,).
I report in r¢sp¢ct of my examination of the Charity's accounts carriejj out under wtion 145 of the 201 l Act
and in carrying out my examination I have followed all the applicable Di￿tionS given by the Charity
Commi&8ioTh under section 145(5Xb) of the ACL
Independent examiner's statement
I have completed my examination.
confirni that no material matteTS hav¢ come to my attention in
connection with the examination giving me cause to believe that in any material ffspect:
acci)unting records were not kept in respect of the Charity &$ required by section 130 of the Act" or
2. the accounts do not accord with those records. or
3. th¢ accounts do not comply with the applicable requirements ￿nCerning the forni and content of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts giv¢ a 'tru¢ 4nd fair view, whith is not a matter ¢onsid¢r¢d &s part of an indep¢ndent
examination.
I have no concerns and have come across no other matters in eomlection with the examination to which
attention should k drdwn in this rqx)rt in order to ¢nable a proper understandi
of the accounts to be
reached.
Greg Stev¢nson FCA
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London EC3A 2AD
.2022

Page 7
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Page 8
FORWARD IN FAITH
BALANCE SHEET
AT 31ST DECEMBER 2021
Note
2021
2020
FIXED ASSETS
Tangible assets
Investments
io
844,739
758.750
844.739
758,750
CURRENT ASSETS
Debtors
Cash at bank and in hand:
National Funds
Branches
12
8.946
1,512
160,385
52,054
192,981
65,058
221.385
269,551
CREDITORS.. due within one year
13
(8,565)
(7,065)
NET CURRENT ASSETS
212,820
262,486
TOTAL NET ASSETS
£1.057,559
£1.021,236
FUNDS
Unrestricted Funds
General fund
Restricted Funds
15
15
976,986
80,573
951,056
70,180
TOTAL FifNDS
£1,057,559
£1,021.236
Approved by the Trustees on 25th April 2022
The Rt Revd Tony Robinson, Bishop of Wakefield
Chaimian
nathan Pri
surer

Page 9
FORWARD IN FAITH
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2021
2021
Total
Funds
2020
Total
Funds
Note
Net Cash (used in)/provided by Operating Activities
(73,425)
100,113
Cash flows from Investing Activities
Purchase of Investments
Bank Interest and Dividends
Proceeds on Investments
(25,000)
25,872
27,825
Net Cash (used in)/provided by Investing Activities
27,825
872
Change in Cash and Cash Equivalents in the period
(45,600)
100,985
Cash and Cash Equivalents at beginning of period
258,039
157,054
Cash and Cash Equivalents at end of period
£212,439
£258,039
A) Reconciliation of Net Income/(Expenditure) to
net cashflow from operating activities
Net Income/(Expenditure) for the reporting period
Adjustments for:
(Increase)/Decrease in Debtors
(Decrease)llncrease in Creditors
Investment Income
Loss/(Gain) on Investments
36,323
18,602
2,566
1,500
(27,825)
(85,989)
116,842
(23,683)
(25,872)
14,224
Net Cash (used in)/provided by operating activities
(73,425)
£100,113
B) Analysis of Cash and Cash Equivalents
Bank Balances
Notice Deposits (less than 3 months)
161,395
51,044
206,995
51,044
£212,439
£258,039
C) Analysis of Changes in Net Funds
At 11112021
Cash Flows At 31/1212021
Cash
258,039
(45,600)
212,439

Page 10
FORWARD IN FAITH
NOTES TO TIIE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
l. ACCou￿rING POLICIES
B&sis of Preparation 2nd AMessm¢nt going concern
The ￿COUnts have been prepared under the historical cost convention with items recognised ai Cost or
transaction value vnl¢ss oihenvise stated in the relevant notes to these accounts. They have been prepared
in accordance with the Sthtement of Recommended Prnctice Accounting and Reporting by Charities
preparing their accounts in accordance with th¢ Financial Reporting Stsndards applicable in the UK and
Republic of Ireland (FRS 102) effective 2019 and the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Th¢ a¢wunts have been pr¢pared to give a 'true and fair, view and have departed from the Charities
(Acwunts and Rewrts) Regulations 2008 only to the extent required to provid¢ a 'true and fair, view.
This departure involved following Accounting and Reporting by Charities preparing their ￿COUnts in
accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) issued on 16 July 2014 rdther than the Accounting and Reporting by Charities statern￿t of
RecotntneJKled Practice effective from l April 2005 which has since withdraw
The financial statements include the income and expenditure of Forward in F8ith branches which arrange
activities in England and Swtland.
The Charity constitutes 2 public b¢ft¢fit entity as defin¢d by FRS 102.
The TTUSte¢s consider that there are no uncthainties aiK*Ut the Charity's ability to continue as a going
concern. Th¢ most significant area of uncertainty that affects the Charity is th¢ continued receipt of
legacies.
Tangible Fixed Assets and DepTrTci*tion
Tangible fixed &8sets costing more than £l.O(M) are capitalised and included at cost including any
incidentsl costs of wuisition.
Depreciation of fixed assets is calculated to WTi* off their cost or valuation less any residu21 value over
their estimated useful liv¢s as follows..
Ofrice equipment
3 years
Pensions
The charity parti¢ipates in two defined beneftt schemes.. Penston Builder Classic (Closed to new
employees) and Pension Builder 2014, which all ¢ligtble ¢mploy¢es. Th¢ schem¢s are administered
by the Church of England Pensions Board. As Forward in Faith is wiabl¢ to identify its share of
underlying assets and liabilities FRS 102 requires pension costs to be accounted for on the basis of
contributions payable to the s¢heme in the year (Note 18). There is no requirement for deficit funding at
the current time.
Leased Asset and Obligations
Where assets are financed by leasing agreements that give rights approximately to ownership ('ftnan¢e
leases,). the assets are tre&t¢d as if they had been purchased outright. The amount capitalised is the
present value of the minimum lease payments payable during the lease terni. The corresponding leasing
commitments are shown &s obligations to the lessor.
Lease payments are treated as consisting of capital and interest elements. and the interest is charged to the
statement of financial activities in prO￿)rtIOn to the remaining balance outstanding.
All other le&8es are operating leases, and the annual rentsls are charged to statement of financial activities
on a straight-line basis over the lease t¢rn).

Page 11
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
I. ACCOUNTING POLICIES (continued)
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will
be received, and the amount of income receivable can be measured reliably. Income is deferred only
when the charity has to fulfil conditions before becoming entitled to it.
In accordance with this policy, legacies are included when the charity is advised by the personal
representative of an estate that a legacy is probable, and that payment will be made, or property
transferred, and the amount involved can be quantified.
Donations are recognised when received.
Subscriptions from Members are for a period cotenninous with the year end and are recognised in the year
in which they are received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing
the Charity to that expenditure. it is probable that settlement will be required, and the amount of the
obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Where costs cannot be directly attributed to particular
headings, they have been allocated to activities on a basis consistent with use of the resources. Resources
expended includes VAT which cannot be recovered.
Raising funds consists of fundraising expenditure and allocated support costs. Charitable activities
include publication costs, grants and donations and allocated support costs including governance costs.
Allocation of Support Costs
The support costs have been allocated as to l O % to raising funds and 90 % to charitable activities.
Branches
The Charity's accounts include the transactions of the Branches, and as the funds remain attributable to
those branches, the balances are held as restricted funds.
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. Currently there are no designated funds.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors
or which have been raised by the charity for particular purposes. The cost of raising and administering
such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the
notes to the financial statements.

Page 12
FORWARD IN FArrH
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31ST DECEMBER 2021
¢ontiDued
I. ACCOUNTING POLlCtES (continued)
Critical AccouDting Judgemellts And Key Sources of Uncert¥iDty
The prepardtion of the Financial Ststements requires the Charity's management to make significant
judgements and estimates. The Ètems in the Filthncial Statements where these judgements and estimales
have been made include:
Employee Benefits
The pension scheme disclosure has been prepared in accordance with the details provided by the
Scheme's actuary and in considerdtion of the disclosure requirements under FRS 102. At present there is
no liability to disclose, but changes in assumptions used in evaluating the S¢h¢me's liability could have a
signifi¢ant effect on the amounts shown in the Finan¢ial Statetnents.
Use￿1 Life of T*ttgible Fixed Assets
The depreciation charge on tangible r￿d assets is based on Management's estimates of useful life. This
is subject to uncertainty and reviewed by Mana8¢m¢nt at reporting date.
General
Fund
Restritted
Fuud
Total
2021
Total
2020
2. SUBSCRIPTIONS. DONATIONS AND
LEGACIES
Subsoriptions
Donations
Income tsx ￿0Verable
Legacies
Donations to Chapel Fund
Branch income
111.523
2,793
17.606
4.742
111.523
24,312
17,606
4,742
16.000
2.415
114.629
48,258
18,755
62,532
16,000
5,258
21.519
16,000
2,415
£136,664
£39.934
£176.598
£265,432
2020
£242.644
£22,788
£265.432
3. CHARITABLE ACTtVITIES
Publications
Other tnwme
13.428
3,462
13,428
5.626
16,566
3,555
2,164
£16.890
2,164
£19,054
£20.121
2020
£19.896
£225
£20,121

Page 13
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
4. OTHER TRADING ACTIVITIES
General
Fund
Restricted
Fund
Total
2021
Total
2020
Branch activities
Other sales
397
397
523
£397
£397
£523
2020
£523
£523
5. INVESTMENTS
Dividends receivable
Interest receivable
Branch interest and dividends receivable
27,813
12
27,813
12
154
25,497
125
250
154
£27,825
£154
£27,979
£25,872
2020
£25,622
£250
£25,872
6. RAIStNG FUNDS
Fundraising Expenditure
Allocated support costs (Note 8)
14,295
58
14,353
15,578
£14,295
£58
£14,353
£15,578
2020
£15,405
£173
£15,578
7. CHARITABLE ACTIVITIES
Publications costs
External Meeting costs
Chaplaincy costs
IT costs
Catholic Group grant
Catholic Mission Network
Pandemic Initiatives
General Synod Elections
The Society
Council of Bishops
Archives Project
Donations and Gifts
Branch cost of charitable activities
Allocated support costs (Note 8)
56,148
56,148
57,226
223
17,676
1,481
2,500
17,037
17,037
1,881
2,500
9,044
1,881
2,500
9,044
12,385
20,174
1,029
3,808
380
1,500
4,953
140,209
31,335
1,627
5,013
31,335
1,627
5,013
5,579
521
5,579
129,177
128,656
£227,160
£32,181
£259,341
£263,544
2020
£241,728
£21,816
£263,544

Page 14
FORWARD IY4 FATTH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31ST DECEMBER 2021
conlinued
SUPPORT COSTS
General
Fund
Restiicted
Fund
Totsl
2021
Totsl
2020
Salaries
National Assembly
Office costs
Sundry expenses
Travel
Covnputer
Bank charges
Establishment expenses
Branch support costs
Independent Examination
Accountancy and ￿KatIOn services
Insurance
Reallocation of suprrf>rt costs
116,398
116.398
116,608
33
7,054
6,269
3,332
2,049
651
6,288
1,735
5,220
5.213
1.335
(155.787)
6,607
250
890
636
786
6.730
6.607
250
890
636
786
6,730
579
5.400
3.902
1.352
(143,530)
579
5,4(M)
3,902
,352
(142,951)
(579)
2020
2021
2020
9. STAFF COSTS AND NUMBERS
Payroll costs
Wages and salaries
Social security costs
Pension costs
135,456
12,198
11.750
128.576
7,172
16,418
£159,404
£152,166
The averdge head count for the year was 6 of whom one was fiEII time. and the full time equivalent
amounted to 2.75 (2020.. 6 and 2.6)-
One employee for the reporting period fell in the band £60,000 - £70,￿0. Key management Frsonnel
received salary of £69,738 and pension wntributions of £7,845.

Page 15
FORWARD IN FATTH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
10. TANGIBLE FIXED ASSETS
Office equipment
Cost
I st January 2021
Additions
Disposals
3,469
31 st December 2021
£3,469
Depreciation
I st January 2021
Disposals
Charge for year
3,469
31 st December 2021
£3,469
Net book value
31 st December 2021
3 1st December 2020
All of the fixed assets are held for the use of the Charity.
General
Fund
Schroders Property Fund
Restricted
Fund
Branch
I I. INVESTMENTS
CCLA
Total
Market Value at
I st January 2021
Additions
Realised Gains/(Losses)
Unrealised Gains/(Losses)
438,633
200,715
114,279
5,123
758,750
48,632
20,089
16,532
736
85,989
Market Value at
3 1st December 2021
£487,265
£220,804
£130,811
£5,859
£844,739
Cost at
31 st December 2021
£365,000
£225,000
£125,000
£3,390
£718,390

Page 16
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31ST DECEMBER 2021
¢ontinued
2021
2020
12. DEBTORS
Amounts falling due within one year
Trade debtors
Other debtors and Prepayments
5,354
3.592
207
11.305
£8,946
£11.512
13. CREDITORS
Amounts falling due within one year
Aecru&ls and d¢f¢rr¢d in¢om¢
8.565
7.065
£8,565
£7,065
14. ALLOCATION OF NET ASSETS BETWEEN
FLfNDS
Net Currellt
knets
Investments
Total
2021
General funds
Restricted funds
838.880
5,859
138,106
74,714
976,986
80,573
£844.739
£212,820
£1,057.559
2020
General fvnds
Restricted fvnds
753.627
5.123
197,429
65.057
951.056
70,180
£758.750
£262,486
£1,021,236

Page 17
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
15. FUNDS
BAlaDce at 1st
January
2021
Gainl(Loss)
on
Investments
Balance at
31st December
2021
2021
Income
Expenditure
Transfers
Restricted funds
Scotland Fund
Branches Fund
Branches (National) Fund
Chapel Fund
John Richards Memorial Fund
Catholic Mission Network
3,575
58,957
3,283
3,745
620
3,575
57,912
3,283
4,167
680
10,956
4,733
(6,158)
736
(356)
17,459
60
20,000
(17,037)
(9,044)
70,180
42,252
(32,239)
736
(356)
80,573
Unrestricted- General Fund
951,056
181,776
(241,455)
85,253
356
976,986
£1,021,236 £224,028 £(273,694)
£85,989
£1,057,559
Balance at 1st
January
2020
Gafinl(Loss)
on
Investments
Balance Ydt
31st December
2020
2020
Income
Expenditure
Transfers
Restricted funds
Scotland Fund
Branches Fund
Branches (National) Fund
Chapel Fund
John Richards Memorial Fund
The Gift Fund
3,575
60,025
3,111
906
555
675
3,575
58,957
3,283
3,745
620
5,561
172
17,465
65
(6,688)
331
(272)
(14,626)
(675)
68,847
23,263
(21,989)
331
(272)
70,180
Unrestricted - General Fund
933,787
288,685
(257,133) (14,555)
272
951,056
£1,002,634 £311,948 £(279,122) £(14,224)
£1,021,236
The Scotland Fund is for the benefit of work in Scotland.
The Branches Fund comprises money raised and held by the branches for expenditure in their areas.
The Branches (National) Fund comprises money, held nationally, which is derived from branches that are in
abeyance, pending re-establishment of the branches concerned.
The Chapel Fund represents net income raised to cover the cost of leasing the Chapel at Gordon Square and the
ministy exercised within it.
The John Richards Memorial Fund is held for expenditure on projects in memory of Bishop John Richards.
The General Reserve represents the free funds of the charity which are not designated for particular purposes.
Catholic Mission Network- Grant Funding has been received, on behalf of The Society, from the Allchurches Trust
and from the Fellowship of St John, for a new initiative to establish a Catholic Mission Network.

Page 18
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YKAR ENDED 31ST DECEMBER 2021
continued
16. OPERATING LEASE C0MPrftT￿Ts
Ai 3 1st [k￿mber 2021. th¢ Clwity had commitments under operatin8 leases as follows:
land and Buildin
2021
2020
Other
2021
2020
Within one year
B¢tween 2 8nd 5 years
Over 5 years
7.1
3.1
7.100
8.875
591
930
17. TRUSTEES, EXPENSES, REMUNERATION AND RELATED PARTY TRANSACTIONS
The Trustees ar¢ not remunerated. During the year travel and accommc4knion expenses of £819 were
reimbursed (2020.. £1.546).
The AddRtiollal Curates Society
The Charity employs the services of the Additional Curates Society and in the year paid £Nil for
services provided (2020.. £Nil).
The Rt Revd Tony Robinson is a trustee of the Additional Curats Society.
The Catholic Group in General Synod
The Charity made payments to the Catholic Group in G¢n¢ral Synod amounting to £2,500
(2020= £2,500).
The Revd Paul Benfield is Chairnian of the Catholic Group.
18. PENSTONS
Forward in Faith parti¢ipat¢s in th¢ Pension Builder Scheme section of The ChuKh Workers Pension
Fund (CWPF). The Scheme is administered by the Church of England Pensions Board, which holds the
assets of the schemes separdtely from those of the Employer and the other participating employers.
CWPF has two sections:
the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
a deferred annuity section knovm as Pension Builder Classic. and,
a cash balance section known as Pension Builder 2014.
b)
Pellslon Bullder Seheme
Both sections of the Pension Builder Scheme are classed as defined kn¢fit s¢h¢mes.
Pension Builder Classic provides a pension accumulated from contributions paid and converted into a
d¢ferred #nnuity during employment based on ternis set and reviewed by the Church of England
Pensions Board from time to time. Discretionary in¢r¢ases may also be added, depending on investment
returns and other factors.

Page 19
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
continued
18. PENSIONS (continued)
Pension Builder Scheme (Continued)
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide
benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary
bonuses may be added before retirement depending on investment returns, and other factors. The
account, plus any bonuses declared, is payable, unreduced from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102, This
is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific
employers and means that contributions are accounted for as if the Scheme were a defined contribution
scheme. The pensions costs charged to the SOFA in the year are contributions payable (2021: £11,750
2020: £16,418).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was
carried out as of 31 December 2019. The next valuation is due at 31 December 2022.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the on-going
assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus, of
3 % following improvements in the funding position over 2021. There is no requirement for deficit
payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing
assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Forward in Faith could become
responsible for paying a share of that employer, s pension liabilities.
19. EVENTS AFTER THE BALANCE SHEET DATE
In the last two years, there has been major global upheaval in both the social and financial spheres. The
effects of these on the charity remain unclear although the valuation of investments at the year end had
recovered to pre-pandemic levels and levels of dividend income had started to recover. This had
improved the financial outlook for the charity for the forthcoming year, although the charity will now
need to keep the situation in Ukraine under review in this context. However it is unlikely to cause major
disruption to the charity's activities.