FORWARD IN FAITH
FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31 DECEMBER 2023
Registered charity number: 1057246

Page I
FORWARD IIY FAITH
LEGAL AND ADMINISTRATtVE INFORMATION
MEMBERSHIP OF THE EXECUTIVE COMMJTfEE
Under the Constitution of Forward in Faith, the members of the Executive Committee are the Trustees of the
Charity. During 2023 the membership of the Executive Committee was as follows:
The Rt Revd Paul Thomas
The Revd Canon Paul Hutchins
Mary Snape
Sir Richard Mantle
The Rt Revd Jonathan Baker
The Rt Revd Tony Robinson
The Revd Paul Benfield
The Revd Canon Darren Smith
The Revd Canon Mark North
The Revd Kyle McNeil
Christopher Daubney
Christopher Swift
Chairn)an. nominated by The Society
Clerical Vice-chairnian, elected by the membership
Lay Vice-chairnian, elected by the membership
Treasurer, co-opted
Nominated by The Society
Nominated by The Society, resigned on I l November 2023
Co-opted
Elected by the membership
Elected by the membership
Elected by the membership
Elected by the membership
Elected by the membership
Tom Middleton, Director of Forward in Faith, routinely attends meetings of the Executiv¢ Committee.
BANKERS
Lloyds Bank ple
98 Victoria Street
London SWI E 5JL
INDEPENDENT EXAMINER
Mr Greg Stevenson FCA
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London EC3A 2AD
CHARITY ADDRESS
St Andrew Holborn
5 St Andr¢w Street
London EC4A 3AF

Pagc 2
FORWARD IN FAITH
TRUSTEES. REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023
The Trustees present their annual report for the year ended 31" December 2023 under the Charities Act 2011,
together with the audited accounts for the year, and confirn] that the latter comply with the requirements of the
Act. the Charity's governing document and Charities SORP IFRS 102} issued in 2019.
Objectives
The Charity is cstablishcd 'to advanc¢ thc Christian religion by promoting the sprcad of the catholic faith in
accordance with the traditional understanding of the historic apostolic succession, the ministry of bishops and
priests, and full ecclesial communion,.
Forward in Faith affimis the Catholic faith as the Church of England received il and proclaims it afresh in this
generation. It upholds catholic order and the catholic doctrine of the Sacraments, and in particular the
threefold ministry, which the Church of England shares with the Church throughout the world and across the
ages. It seeks the visible unity of Cl)rist's Church. It achieves its objectives in a variety of ways, including
through the magazine New Direclions and other publiutions and by supporting the Catholic Group in General
Synod. Its Constitution empowers it to support The Society, established under the patronage of St. Wilfrid and
St. Hilda (www.sswsh.com , as an ecclesial structure with a ministry and sacraments in which the faithfijl can
have confidence, so thai they can flourish within the life and structures of the Church of England. It provides
advice and support to The Society's bishops, to its parishes, and to individual members of the clergy and laity.
Thc Trustees have had regard to the Charity Commission's guidance on public benefit. They are satisfied that
the Charity's work is for the benefit of the public misskon of the Church of England and for the benefit of her
members, as well as that of all those outside the Church to whom its clergy and people minister.
Activities, Achievements and Performance
In 2023 Forward in Faith has continued its campaigning work on behalf of the Catholic Movement in the
Church of England on issues of concern. The two principal current issues relate to the sacraments of Holy
Matrimony and of Confession.
On Holy Matrimony, Forward in Faith has engaged positively with the Church of England's Living in Love
and Faith (LLF) process, seeking to uphold the received understanding of marriage as being between one man
and one woman for life, while also emphasising the importance of pasto￿1 sensitivity on this matter in line
with ihe approach adopted by Pope F￿ncIS. To this end, the Charity has participated in the work of the
Alliance which seeks to defend the received understanding of marriage in the Church of England. This has
involved substantial levels of collaborative work with conservative evangelicals in the Church of England,
which represents a welcome developmenl.
On Confession, there remains a strong concern that either, or both of, national government and the Church of
England might seek to introduce mandatory reporting of sexual offences, thus threatening the integrity of the
Seal of the sacrament of Confession. This is not something which would be - or could ever be - acceptable to
traditional Catholics in the Church of England. Further, we very much doubt that it would lead to any
improvement in safeguarding practices. A report from the Church of England's working group on this topic is
due to be issued in 2024. We shall await its contents, along with the approach to be adopted by the in-coming
national government following a general election.
The Trustees pay tribute to the Right Reverend Tony Robinson who stood down as the Chairman of Fonvard
in Faith in November 2023 after nine highly successful years in the role. The Trustces welcome the Right
Reverend Paul Thomas as the new Chairnian. Congratulations are also offered to the following:
Fr Adam Gaunt on being elected ChaiTman of the Catholic Group on General Synod, succeeding Fr Paul
Bcnficld. A foThner Chainnan of the Catholic Group on General Synod, Fr David Houlding, announced
his retirement as a parish priest and we wish him well in retirement.
Sir Richard Mantle, Treasurer of Fonvard in Faith, on being awarded a knighthood.
The Right Reverend Philip North on being appointed as the Bishop of Blackburn.
The Right Reverend Jonathan Baker on being elected as the Chairnian of The Society.

Page 3
FORWAIU) IN FAITH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
Forward in Faith continues to support the work of The Society under its Council of Bishops. Priorities for The
Society include initiatives in the areas of tnissiow vocations, and communications. The Society will also be
promoting a Year of Faith from Advent 2024 to Christ the King 2025 to mark the 1,700th anniversary of the
Council of Nicaea.
Finally, it should be noted that, in September 2023, the Church Union decided to terniinate a contract it held
jointly with Forward in Faith for communications consultancy work. The tcrn]ination of the contract involvcd
both partics - that is. the Church Union and Forward in Faith - each becoming liable for £7,500 in penalty
fees for its terniination without notice. Those penalty fees were paid to the consultant in November 2023.
Future plans
In 2024 the Charity's main focus will be to agree a new strategic plan and begin its implementation. The
content of the plan will be based around two themes: firstly. supporting the work of The Society as the banner
under which the Catholic Movement in the Church of England operates, and, secondly, identifying new
funding sources to improve the financial standing of Forward in Faith.
FINANCIAL REVIEW
Financial Position at tbe Year End
The Charity's Funds changed from a level of £953,959 as at 31 December 2022 (of which £119,524 was
restricted) to a level of £913,102 as at 31 December 2023 (of which £140,885 was restricted). Trustees are
mindful that income from legacies cannot be relied upon and that there is fvrther work to do to establish a
financially sustainable budget for the Charity.
Reserves
'I'hc Trustees are aware of the Charity Commission'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 several years of expenditure are
available, should they be required.
Investments
Invcstments changed from a level of £777,602 as at 31 December 2022 to a level of £816,607 as at 31
Dccembcr 2023. Income from investments plays a part in fi￿dIng the work of the Charity.
Going Concern and Deficits
The trustees are satisfied that there are no uncertainties with regard to the continuance of the Charity as a
going conccrn. No funds of the Clwity are in deficit.
Risks
As noted above, the Charity will be looking to improve its financial standing in the coming years.
REFERENCE AND ADMIIYISTRATIVE INFORMATION
The name of the Trustees, the Charity's principal address and particulars of the Charity's professional advisers
arc given on page l. Further inforniation about Forward in Faith can be found on its website:
www.forwardinfaith.com

Page 4
FORWARD IN FArrH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
STRUCTURE, GOVERNANCE AND ￿AGEMENT
Constitution
The Charity is an unincorporated association. It is governed by its Constitution which was adopted by the
National Assembly in 1994 and amended by the National Assembly on 20 October 2007. 19 October 2013, 14
November 2015 and 28 May 2022.
Trustees
The management and control of the Organisation is exercised by an Executive Committee. whose members
are the Trustees of the Charity. The Executive Committee consisls of:
Up to three members who are nominated by The Society, all of whom will be bishops as The Society is
led by its bishops.
Up to seven members elected by the membership of Forward in Faith, with a split of clerical and lay
representative and a geographic spread of those repr&sentatives.
Up to three members co-opted by the other members and chosen for their expertise in specific fields.
A Chairn]an, a Clerical Vice-chairnian, a Lay Vice-chainnan and a Treasurer are elected by the Trustees
from within their own number.
Organisatlonal Management
Thc day-to-day management of the Charity is in the hands of the Director, who has the right to attend all
meetings of the Executive Committee. He is assisted by Administrator. Systems of internal financial control
and Gricvance, Disciplinary and Safeguarding Policies are in place.
Benchmarks for Staff Remuneration
After completion of any probationary period, staff members are paid at the current standard point of the
appropriate band of the National Church Institutions, INCI) pay bands identified in their contracts of
employment.
Related Parties
The Right Reverend Jonathan Baker is also a tTUStee of the Number l Trust Fund which has awarded the
Charity with a grant of £150,000 over a three-year period from 2022 to 2024, equating to £50,000 per annum.
A Conflicts of Interest Policy is in place. Trustees withdrdw from discussions in respect of matters for which
they have a conflict of interest.
The Charity has adopted the Nolan Principles of Public Life as a set of standards to adhere to in the conduct of
all of its business.

Page 5
FORWARD IN FAITH
TRUSTEES, REPORT
FOR THE YEAR EIVDED 31ST DECEMBER 2023
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
trustecs to prepare financial statements for each fmancial ycar which give a tnie and fair view of the slate of
affairs of thc Charity and of its financial activities for that period.
In preparing those financial statements the trustees are required to:
select suitable accounting policies and thcn apply them consistcntly.
make judgements and cstimates 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 cxplained 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.
Thc 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
Thc Rt Revd Paul
ChaiTman
omas
Date: 17th April 2024

Page 6
FORWARD IN FAITH
REPORT OF THE INDEPENDEIYT EXAMINER
TO THE TRUSTEES
I report to the trustees on my examination of the accounts of Forward in Faith (the Charity) for the year ended
31 st December 2023 which are sei out on pages 7 to 19. This report is made to the Trustees, as a body, in
accordance with the tern]s of my engagement. My work has been undertaken so that I might cany out an
Independent Examination of the financial statements in accordance with the General Directions given by the
Charity Commissioners. To the fullest extent perniitted by law, I do not accept or assume responsibility to
anyonc other than the Charity and the Charity's Trnstees as a body for my work or for this report.
Responsibilities and basis on report
As the Charity Trustees you are respons￿1 le for the prepardtion of the accounts in accordance with the
requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of thc Charity's accounts carried out under scction 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)0)) of the Act.
Independent examiner's statement
Since your Charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I
Can confinn that I am qualified to undertake the examination because l am a registered member of the Institute
of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination.
confmn that no material matters have come to my attention in
connection with 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 Act. or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the applicable requirements concerning the forni 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 fair view, which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in conncction with the examination to which
attention should be drawn in this report in order to enable a proper undcrstandin
f the accounts to be
reached.
Greg Stevenson FCA
I(nox Cropper LLP
Chartered Accountants
65 Leadcnhall Streel
London EC3A 2AD
.2024

Page 7
c4*r-
tr-thom
$co* L)%

Page 8
FORWARD IN FAITH
BALANCE SHEET
AS AT 31ST DECEMBER 2023
Note
2023
2022
FIXED ASSETS
Tangible assets
Investments
10
11
816,607
777,602
816.607
777,602
CURRENT ASSETS
Debtors
Cash at bank and in hand:
National Funds
Branches
12
7,103
18,330
41,773
56,857
120,235
54,378
105.733
192,943
CREDITORS: due within one year
13
(9,238)
(16,586)
NEf CURRENT ASSETS
96,495
176,357
TOTAL NET ASSETS
£913,102
£953,959
Unrestricted Funds
General fund
Restricted Funds
15
15
772,217
140,885
834,435
119,524
TOTAL FUNDS
£913,102
£953,959
Approved by the Trustees on 17th April 2024
Revd Paul
omas
Sir Richard Mantle
Treasurer

Pagc 9
FORWARD IN FAITH
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023
2023
TotV41
Funds
2022
Total
Funds
Note
Net Cash (used inyprovidcd by Operating Activities
(105,626)
(66,024)
Cash flows from Investing Activitics
Purchase of Investments
Bank Interest and Dividends
Proceeds on Investments
29,643
28,198
Net Cash (used in)/provided by Investing Activities
29,643
28,198
Change in Cash and Cash Equivalents in the period
(75,983)
(37,826)
Cash and Cash Equivalents at beginning of period
174,613
212,439
Cash and Cash Equivalents at end of period
£98,630
£174,613
A) Reconciliation of Net Incomel(Expenditure) to
net cashflow from operating activities
Net Income/(Expenditure) for the reporting period
Adjustments for..
(Increase)IDecrease in Debtors
(Decrease)/Increase in Creditors
Investment Income
Loss/(Gain) on Investments
(40.857)
(103,600)
11,227
(7,348)
(29,643)
(39,005)
(9,383)
8,021
(28,198)
67,137
Net Cash (uscd inyprovided by operating activities
(105,626)
(66,024)
B) Analysis of Cash and Cash Equivalents
Bank Balances
Notice Deposits (less than 3 months)
98,630
123,518
51,095
£98,630
£174,613
C) Analysis of Changes in Net Funds
At 11112023
Cash Flows At 3111212023
Cash
£174,613
£(75,983)
£98,630

Page 10
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
l. AccouKfING POLICIES
Basis of Preparation and Assessment of going concern
The accounts have been prepared under the historical cost convention with items recognised at cost or
transaction value unless otherwise stated in the relevant notes to these accounts. They have been prepared
in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and
Rcpublic 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.
The accounts have been prepared to give a 'tnie and fair, view and have departed from the Charities
(Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view.
This departure involved following Accounting and Reporting by Charities preparing their accounts in
accordance with the Fil￿}CIal Rq)orting Standard applicable in ihe UK and Rq)ublic of Ireland (FRS
102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of
Recommended Practice effective from l April 2005 which has since been withdrawn.
The financial statements include the income and expenditure of Forward in Faith branches which arrange
activities in England and Scotland.
The Charity constitutes a public ￿nefit entity as defmed by FRS 102.
The Trustees consider that there are no uncertainties about the Clwity's ability to continue as a going
concern. The most significant area of uncertainty that affects the Chan'ty is the continued receipt of
legacies.
Tangible Fixed Assets And Depreciation
Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any
incidental costs of acquisition.
Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over
their estimated useful lives as follows:
Office equipment
3 years
Pensions
The charity participates in two defined benefit schemes: Pension Builder Classic (closed to new
employees) and Pension Builder 2014, which cover all eligible employees. The schemes are administered
by the Church of England Pensions Board. As Forward in Faith is unable 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 scheme in the year (Note 18). There is no requirement for deficit ￿ndIng al
the current time.
Leased Asset Ydnd Obligations
Where assets are financed by leasing agreements that give rights approximately to ownership ('finance
leases,), thc assets are treated as if they had been purchased outright. The amount capitalised is the
present value of the minimum Icase payments payable during the le&se tern]. The CO￿espOndIng leasing
commitments arc shown as obligations to the lessor.
L£ase payments are treated as consisting of capital and interest elcmcnts, and the interest is cbarged to the
statement of financial activiti&s in proportion to the remaining balance outstanding.
All other leases are operating leases, and the annual rentals arc Charg￿ to statement of financial activitics
on a straight-line basis over the lease terni.

Pagell
FORWARD IN FAITH
NOTES TO THE FINANCIAL sTATE￿￿NTs
FOR THE YEAR ENDED 31ST DECEMBER 2023
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 bas to fulfil conditions before becoming entitled to it.
In accordance with this policy, legacies are included when the charity is advised by the personal
reprcsentative 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 usc of the resources. Resources
cxpcnded includes VAT which cannot be recovered.
Raising fjnds consists of fundraising expenditure and allocated support costs. Charitsble activities
include publication costs, grants and donations and allocated support costs including governance costs.
Allocation of Support Costs
The support costs have been allO￿ted as to 10 % to raising fimds and 900/0 to charitable activities.
Branches
Thc 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
.41
purposes.
Designated ￿ndS comprise unrestricted ￿ndS that have been set aside by the tiustees for particular
PUTposes. Currently there are no designated funds.
Restricted fLmds aTe fLmds which are to be used in accordance with spccific restrictions imposed by donors
or which have been raised by the charity for particular purposes. The cost of raising and administering
such funds arc charged against the specific fund. The aim and use of each restricted fimd are set out in the
notes to the financial stat¢mcnts.

Page 12
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DEcEI￿BER 2023
continued
I. ACCOUNllNG POLICIES (continued)
Criticydl Accounting Judgements and Key Sources of Uncertainty
The preparation of the Financial Ststements requires the Charity's management to make significant
judgements and estimates. The items in the Financial Statements where these judgements and estimates
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 consideration of the disclosure requirements under FRS 102. At present there is
no liability to disclose, but changes in assumptions used in evaluating the Schcmc's liability could have a
significant effect on the amounts shown in the Financial Statements.
Useful Llfe of Tangible Fixed Assets
The depreciation charge on Lqngible fixed assets is based on Management's estimates of useful life. This
is subject to uncertainty and reviewed by Management at each reporting date.
GeDeral
Fund
Restricted
Fund
Total
2023
Total
2022
2. SUBSCRIPTIONS, DONATIONS AND
LEGACIES
Subscriptions
Donations
Income tax recoverdble
Legacies
Donations to Chapel Fund
Branch income
98,279
2,831
14,787
17,000
98,279
65.406
14.960
17,000
24,000
7,761
103,449
70,766
16,687
1,013
22,000
5,943
62,575
173
24,000
7,761
£132,897
£94,509
£227,406
£219,858
2022
£123.371
£96,487
£219,858
3. CHARITABLE ACTivrriES
Publications
oihcr income
14,184
5,655
14,184
6,610
22,708
6,264
955
£19,839
£955
£20,794
£28.972
2022
£28,972
£28,972

Page 13
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31ST DECEMBER 2023
4. OTHER TRADING ACTtvrriES
General
Fund
Restricted
Fund
Total
2023
Total
2022
Branch activitics
Other sales
480
480
754
£480
£480
£754
2022
£754
£754
5. INVESTMENTS
Dividends receivable
Interest receivable
Branch intcrest and dividends receivable
28,513
770
28,513
770
360
27,918
79
201
360
£29,283
£360
£29,643
£28,198
2022
£27,997
£201
£28,198
6. RAISING FUNDS
Fundraising Expenditure
Allocated support costs (Note 8)
18,660
1,179
19,839
17,618
£18,660
£1,179
£19,839
£17,618
2022
£17.276
£342
£17,618
7. CHARITABLE ACTIVITIES
Publications costs
Chaplaincy cosls
IT costs
Catholic Group grani
Catholic Mission Network
General Synod Elections
The Society
Council of Bishops
Donations and Gifts
Branch cost of clwitable activities
Allocated support costs (Note 8)
83,350
83,350
58,287
1.756
2,500
1,406
70,329
32,865
1,586
2,500
20,911
22
3,322
5,393
601
539
158,559
58,287
1,756
2.500
1,406
3,888
4,769
854
3,888
4,769
854
2,976
178,560
2,976
10,615
167,945
£265,062
£73,284
£338,346
£296,627
2022
£239,232
£57,395
£296,627

Page 14
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIWED 31ST DECEMBER 2023
continued
SUPPORT COSTS
General
Fund
Restricted
Fund
Total
2023
Total
2022
Salaries
National Assembly
Office costs
Sundry expcnscs
Travel
Catering
Computer
Bank charges
Establishment expenses
Branch support costs
Independent Examination
Profcssional Fces
Insurance
Reallocation of support costs
141,562
5,988
4,870
238
11.008
158
776
519
10,800
141,562
5.988
4,870
823
11,008
158
776
519
10,800
3,709
9,683
7.500
1,003
1,486
(198,399) (176.177)
132,352
6,330
9,952
1,236
2,146
567
815
787
8,587
3,152
8,767
585
3,709
9,683
7,500
1,003
(186.605)
(11,794)
2022
2023
2022
9. STAFF COSTS AND NUMBERS
Payroll costs
Wages and salaries
Social security costs
Pension costs
137,294
14,768
20,145
126,453
9,100
18,397
£172,207
£153,950
Thc head count for the year was four (2022: four) in total or 2.4 full-time equivalents (FTES) (2023.. 2.4)
comprising: Director (1.0 FfE). Administrator (0.8 FTE), Chaplain (0.5 FfE) and New Directions
Advertising Manager (O. I FTE).
The Director's salary was £75,055 from l October 2022 (NCI Band l ). The salary will rise lo £78.808
from l January 2024 in line with NCI pay award. Employer pension contributions for the Director
amount to 15 % of salary and totalled £11,392 (2022: £10,722).

Page 15
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
10. TANGIBLE FIXED ASSETS
Office equipment
Cost
I st January 2023
Additions
Disposals
3,469
31 st December 2023
Depreciation
I st January 2023
Disposals
Charge for year
3,469
31 st December 2023
Net book value
3 J st December 2023
31 st December 2022
All of the fixed assets a￿ held for the use of the Charity.
General
Fund
Schroders Property Fund
Restricted
Fund
Branch
I I. INVESTMETrrrs
CCLA
Total
Market Value at
I st January 2023
426,498
224,787
120,458
5,859
777,602
Additions
Realised Gains/(Losses)
Unrealised Gains/(Losses)
43.183
3,056
(7.234)
39,005
Market Value at
31 st December 2023
£469,681
£227,843
£113,224
£5,859
£816,607
Cost at
31 st December 2023
£365,000
£225,000
£125,000
£3,390
£718,390

Page 16
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
2023
2022
12. DEBTORS
Amounts falling due within one year
Trade debtors
Other debtors and Prepayments
3,643
3.460
6,050
12,280
£7,103
£18,330
13. CREDITORS
Amounts falling due within one year
Accruals and deferred income
9,238
16,586
£9.238
£16,586
14. ALLOCATION OF NET AssEfs BETWEEN
FUNDS
Net Current
Assets
Investments
Total
2023
General fijnds
Restricted funds
810,748
5,859
(38,931)
135,026
772,217
140,885
£816,607
£96,495
£913,102
2022
General funds
Restricted funds
771.743
5,859
62,692
113,665
834,435
119,524
£777,602
£176,357
£953,959

Pagc 17
FORWARD IN FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
15. FUNDS
Balance at 1st
January
2023
GainllLoss)
on
ExpeDditure Investmellts
Balauce at
31st December
2023
2023
Income
Transfer6
Restricted funds
Scotland Fund
Branches Fund
Branches (National) Fund
Chapel Fund
John Richards Memorial Fund
Catholic Mission Network
Number l Trust (Communications
and Catechesis)
3,575
60,237
3,283
4,413
740
45
47,231
3,575
62,216
3,283
1,906
765
2,661
66,479
9.249
(7.270)
25,028
25
4,022
57,500
(27,535)
(1,406)
(38,252)
119,524
95,824
{74.463)
140,885
Unrestricted - General Fund
834,435
182,499
(283,722)
39,005
772,217
£953,959 £278,323 £(358.185)
£39,005
£913,102
Balance at 1st
January
2022
G4lnl(Loss)
on
IDvestments
Balance at
31st December
2022
2022
IDcome
Expenditure
Transfers
Restricted funds
Scotland Fund
Branches Fund
Branches (National) Fund
Chapel Fund
John Richards Memorial Fund
Catholic Mission Network
Number l Trust (Conununications
and Catechesis)
3,575
57,912
3,283
4,167
680
10,956
3,575
60,237
3,283
4,413
740
45
47,231
6,286
(3,961)
22,842
60
10,000
57,500
(22,596)
(20,911)
(10.269)
80,573
96,688
(57.737)
119,524
Unrestricted- General Fund
976,986
181,094
(256,508) (67,137)
834,435
£1,057,559 £277,782 £(314,245) £(67,137)
£953,959
The Scotland Fund is for the benefit of work in Scoiland.
The Branches Fund comprises money raised and held by the branches for expenditure in their areas.
The Branches (National) Fund comprises money, held nalionally, 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
ministry excrcised within it.
The John Richards Memorial Fund is held for expenditure on projects in memory of Bishop John Richards.
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 iniliative to establish a Catholic Mission Network.
The Number l Trust has awarded Forward in Faith grnnt fi￿dIllg of £50,000 pcr annum over a three year period for
comTnunications and catechctical work. The Church Union has agreed to provide £1 1,250 for the first year of the
initiative to cover part of the costs of a consultant working on that initiative.
The General Reserve represents the free funds of the charity which are not designated for particular purposes.

Page 18
FORWARD IN FArrH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
16. OPERATING LEASE COMMITMENTS
At 31 st Decembcr 2023, the Charity had commitments undet operating leases as follows:
Land and Buildin
2023
2022
Other
2023
2022
Within one year
Between 2 and 5 years
Over 5 years
13,900
23,900
13,900
37,800
17. TRUSTEES. EXPENSES, REMUNERATION AND RELATED PARTY TRANSACTIONS
The Trustees are not remunerated. During the year travel and accommodation expenses of £2,968 were
reimbursed (2022: £1,183).
The Right Reverend Jonathan Baker is a trustee of the Number l Trust Fund which has awarded the
Charity with a grant of £150,000 over a three year period 2022 to 2024 equating to £50,000 per annum.
There were no other related party transactions.
18. PENSIONS
Fonvard in Faith participates in the Pension Builder Scheme section of The Church 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 defe￿ed annuity section known as Pension Builder Classic, and,
b) a cash balance section known as Pension Builder 2014.
Pension Builder Scbeme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classic provides a pension accumulated from contributions paid and converted into a
deferred annuity during employment based on t¢rnis set and reviewed by the Church of England
Pensions Board from time to time. Discretionary increases may also be added, depending on investment
returns and other factors.
Pension Builder 2014 is a cash balance schetne that provides a lump sum which members use to provide
benefits at retirement. Pension contributions arc recorded in an account for each member. Discretionary
bonuses may be added before retirement dq)ending on investment returns, and other factors. The
account, plus any bonus￿ dcclare& is payable unreduced from age 65.

Page19
FORWAIU) lly FAITH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
18. PENSIONS (continued)
Pension Builder Scheme (continued)
Thcre is no sub-division of assets between cmploycrs in each section of the PetL8ion 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
schcme. The pensions costs charged to the SOFA in the year are contributions payable (2023: £16,779
2022: £15,733).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was
arried out as of 31 December 2019.
For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the on-going
assumptions used. At the most recent annual review effective l January 2024, the Board chose to grant a
discretionary bonus of 6.7 % to both pensions not yet in payment and pensions in payment in respect of
service prior to April 1997. and a bonus on pensions in payment in respect of post April 2006 service so
that the pension increase was 5 % (where usually it would be calculated based on inflalion up to 2.5 % ).
This followed improvements in the funding position over 2023. 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 defjcit payments at the current time.
The next valuation is due as at 31 December 2022. Calculations for this are cumtly under way.
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.