Registered ChaTity No. 1113177
SEA OF FAITH NEnAIoRK
TRUSTEES REPORT AND FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Sea of Faith Network
Contents
Page
Reference and administrative detsils
Trustees Report
Independent Examiners Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts

Sea of Faith Network.
Reference and administrative detalls of the cha
for the
ear ended 31 December 2024
its trustees and advisers
Trustees
Clem Cook
Oliver E55ame
David Francis {until 10 September 2024}
David Lambourn (until 10 September 2024}
Dinah Livingstone (until 31 December 20241
Stephen Mitchell, Chair
Edward Nickell, Secretary
John Pearson luntil 10 September 20241
Janet Seargeant
Stephen Williams, Treasurer
Charity registered
Number
1113177
Prlnclpal Office
Flat 51
Park Central
Bow Quarter
E3 2US
Examlner
Peter Stribblehlll
9 Melbray Drive
Melton Mowbray
LE13 IJS
Bankers
Lloyds Bank
Kings Heath
PO Box 1000
BXI ILT
Co-operative Bank
PO Box 250
Skelmersdale
WN86

Sea of Faith Network.
Trustees, re
ort torthe
ear ended 31 December 2024
The Trustees present their annual report together with thefinancial statements of the Sea of Faith Network (the
charity) for the year ended 31 December 2024. The Trustees confirm that the annual report and financial
5tatement5 of the charity comply with the current ststutory requirements, the requirements of the charity's
governing document.
Strurture, governance and management
Constitution
The Network was registered a5 an unincorporated charity on 6 March 2006, prior to which it operated
as a non-charitable membership network. The charity number is 113177. The Network is governed by
its constitution dated 27 July 2005 and amended on 20July 2006. 26 July 2CK)7. 23 July 2011 and 24 July
2023.
b. Method of appointrnent or election of T￿Stee5
The managementof the charity isthe responsibility oftheTrustees who areeletted bythe membership
at each Annual General Meeting
Risk management
The Trustees have examined the major strateglc, buslness and operational risks which the charity may
face and review these risks on a regular basi5. The Trustees confirm that systems have been established
to enable regular report5 to be produced so that the necessary steps can be taken to mitigate these
risks.
Oblectlves and Actfvttles
PolEcles and oblethes
The objects of the charity are to advance the education of the public in religious studies With particular
reference to religious faith seen as a human creation.
b. Activltles for achieving objectlves
The charity achieves its objectives through conferences. publications, local membership groups, and
other membership activities.
Achievements and performance
Review of activities
The network continued publication of its quarterly magazine "Sofia and the membership newsletter
"Portholes . It held its annual day conference marking the fortieth anniversary of the original Sea of
Faith television series. Members continued to meet in local groups across the country. The online "In
Conversation" events provided further opportunities for exploration and discussion. The expansion of
the 'Solarity/Big Ideas, resource into a progrdmme of study for 5-16 year olds, continued and has so far

Sea of Faith Network.
produced 27 units of learning. This was originally funded by donations from members and supporters
but the cost is now met by the charity. There have been the first independent evaluations of the
materials.
The network received a legacy of £27.547, induded in the donations shown on page 8 of these accounts.
The trustees have resolved that this sum should be used to support developments. initially the
expansion of the Big Idea5 project and the associated evaluation.
Financial review
Reserves Policy
The Trustee5 aim to hold unrestrirted reserves at least equal to six month5 normal expenditure. The
balance of unrestricted funds at 31 December 2024 was £40,933.
b. Prlncipal fundlng
The principal 50uro5 of funding for the charity are membershlp subscriptions and donations.
statement of Trustees, responslbllltles
The Trustees are responsible for preparing the Annual report and the financial statements in accordance with
appllcable law and regulations.
Charity Law requires the Trustees to prepare financial statements for each financial year. Under that law the
Trustees have eletted to prepare the financial statements in accordance with the United Kingdom Statement of
Recommended Prartice 'Accounting and Reporting by Charities,. issued in 2008. The financial statements are
required by law to give a true and fair view of the state of affairs of the charity and of the Surplus or deficit of
the charity for that period. In preparing these financial statements. the Trustees are required to:
Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
Prepare the financial statements on the going concern basis unless it Is inappropriate to presume that
the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and 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 froud and other irregularities.
The report was approved by the Trustees on 17 September 2025 and signed on their behalf, by:
stephen Mitchell, Chair
Stephen Williams, Treasurer

Sea of Faith Network.
Examinerfs re
ort to the TTu5tee5 0* the Sea of Faith Network UK: Charity No. 1113177
I report on the accounts of the charity for the year ended 31 December 2024 which are set out on
pages 5 to 10.
Responslbllltles and basls of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with
the requirements of the Charitie5 Art 2011 ('the Act'l.
I report in respett of my examinatlon of theTrusf s accounts carrled out under section 145 of the 2011 Act and
in carrying out my examination I have followed all the applicable Directions 8iven by the Charity Commission
under sertion 14515)(bl of the Art.
Examlnerfs statement
I have completed my examination. I confirm that no material matters have come to my attention in connectlon
with the examination giving me cause to believe that in any material respect:
l. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not complywith the applicable requirements concerning the form and content of accounts
set out in the Charitles (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts
give a 'true and fair view which is not a matterconsidered as part ofan independent examination.
I have no concerns and have come across no other matters in connection wlth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Peter 5tribblehill
9 Melbray Drive
Melton Mowbray
LE13 IIS
Dated:

Sea of Faith Network.
ststement of financial activities for the
ear ended 31 December 2024
Total
Funds
Total
Funds
2024
2023
Note
Incoming resources
Incoming resources from generated funds:
Voluntary income
Investment income
Incoming resources from charitable activities
Other incomlng resources
29.002
802
3,934
764
8.575
8.603
Total incomlng resources
38.379
13,301
Resources expended
Charitable attivities
14.637
4.000
13,984
4.750
Govemance costs
Total resources expended
18,637
18,734
Net incoming resourcesl Iresources expended) before revaluations
19,742
15,433}
Net gains on revaluation and disposal of investment assets
396
700
Net movement in funds for the year
20,138
{4,7731
Total funds at l January
20,795
25,528
Total funds at 31 December
40,933
20,795
Restrlcted Funds
Solarity Appeal
1.698
Unrestrirted Funds
40.933
19,097
The notes on pages 7 to 10 form part of these fsnancial statements.

Sea of Faith Network.
Balance Sheet as at 310ecember 2024
2024
2023
Note
Fixed a55et5
Fixed asset investments
17.216
16,820
Current assets
Debtors
Cash at bank
io
2257
21,615
1,000
4,200
23072
5,200
Creditors..
Amounts falling due within one year
li
1155)
11.2251
Net current assets
23,717
3,975
Totsl assets less current liabilities
40,933
20,795
Charity Funds
Unrestritted funds
Restricted funds
12
40.933
J 19,097
1,698
Total funds
40,933
20,795
The financial statements were approved by the Trustees on 17 September 2025 and slgned on thelr behalf, by:
v￿l-L￿Jrf Thr[[
Stephen Mitchell, Chair
Stephen Williams. Treasurer
The notes on pages 7 to 10 form part of these financial ststements.

Sea of Faith Network.
Notes to the financial statements for the
ear ended 31 December 2024
l. Accounting Policies
1.1 Basts of preparatlon of financial statements
The financial statements have been prepared underthe historical cost convention and comply with
the charitys governing document and statutory requirements.
1.2 Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees
in furtherance of the general objertives of the charity and which have not been designated for
other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
1.3 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is
legally entitled to the income and the amount can be quantffied with reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Donated facilitie5 are included at the value to the charity where this can be quantified and a third
party is bearing the cost. No amounts are included in the financial statements for services donated
by volunteers.
Income tax recoverable in relatlon to donations under Gift Aid or deeds of covenant Is re¢ognised-'
at the time of the donation.
Income tax recoverable in relation to investment income is
recognised at the time the investment income is receivable.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense
categories that aggregate all cost5 for allocation to artivitie5. Where costs cannot be directly
attributed to particular activities they have been allocated on a basis consistent with the use of the
resources.
1.5 Investments
Investments are stated at market value at the balance sheet date. The Statement of financial
ortivities includes the net gains and losses arising on revaluations and disp05als throughout the
year.

Sea of Faith Network.
Notes to the financial statements for the
ear ended 31 December 2024
continued
Voluntary income
2024
2023
Donations
GiftAid
27.746
1,256
2,934
1,000
29J)02
3.934
Investment income
2024
2023
Investment income
Interest received
725
694
77
70
764
Incomlng resources frorn charftable acthiltles
2024
2023
Membershlp Income
Conference income
Sales
6.702
1.517
356
6,675
1,125
803
8.575
8,603
Sales income comprises the following:
Books
Magazine subscriptions
Magazine advertising
12
173
630
356
803
Analysts of resources expended by artivitie5
Artlvltles
dirertly
undertaken
Support
Totsl
Total
2024
2024
2023
Activitie5 (see notes 6 and 71

Sea of Faith Network.
Notes to the finantial statements for the
ar ended 31 December 2024
contlnued
6. Dirert costs
2024
2023
Conference costs
2.600
2.630
Other event costs
Magazine expense5
Newsletter and other publications
Cost of books sold
5,615
445
6,239
521
72
Web51te costs
553
320
9.213
9,782
7. Support costs
2024
2023
Trustee meeting expense5
Development expenses
Sundry expenses
Accountancy fees
1.412
3,714
298
892
3,306
5A24
4,202
8. Governance costs
2024
2023
Trustee remuneration
4,750
During the year, l Trustee recelved remuneration of £4,000 {2023- 2 Trustees- £4,750)
During the year, no Trustees received any benefits in kind12023- Nil)
4 Trustee5 received reimbursement of expenses of £661,12023- £2831.
Trustee remuneration above was paid to Dlnah Llvingstone, a Trustee of the charity, for editing and
preparing the charivs quarterly magazine, Sofia.

Sea of Faith Network.
Note5 to the financlal statements for the
ear ended 31 December 2024
continued
Fixed asset investments
2024
2023
Market Value
At ljanuary
Disposals
Net revaluations and gains
16,820
16,120
396
700
At 31 December
17,216
16.820
Hlstorlcal cost
15.090
15,090
Investments at market value comprlse:
2024
2023
Listed investments
17.216
16.820
10. Debtors
2024
2023
Debtors I Prepayments
2,257
1,000
11. Creditors:
2024
2023
Amounts falllng due wlthln one year
Creditors and accrued expenses
Income in advance
1,070
155
155
155
1,225
12. Summary of funds
Brought
Forward
Incoming Resources
resources
Expended
Gainsl
Losses
Carrled
forward
General funds
19,097
38,379
(16,9391
396
40,933
Restricted funds
1,698
{1.6981
Total funds
20.795
38379
118.637)
396
40.933
io