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← The Faith & Belief Forum

2025-03-31-accounts

Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

Charity number: 1173369

THE FAITH & BELIEF FORUM

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1 - 2
CEO's Report 3 - 5
Trustees' report 6 - 7
Trustees' responsibilities statement 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 24

Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Professor Mike Hardy CMG OBE (Chair of Trustees, stepped down 18 June 2024) N Tamir C Shanahan (resigned 25 March 2025) Dr M A Ziff (Appointed 17 June 2024) M A Amla M A Fox L Parrales (resigned 21 February 2025) F Bauer (resigned 28 February 2025)

Charity registered number

1173369

Principal office

5 Brayford Square London E1 0SG

Director

Carrie Alderton (Interim CEO)

President

Michael Sternberg KC KCFO OBE

Independent examiner

Blick Rothenberg Limited 16 Great Queen Street Covent Garden London WC 2B 5AH

Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Solicitors

Bryan Cave Leighton Paisner LLP Adelaide House London Bridge London, EC4R 9HA

Howard Kennedy LLP No.1 London Bridge London, SE1 9BG

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THE FAITH & BELIEF FORUM

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Champions

HRH Princess Badiya bint El Hassan Rt Hon Dominic Grieve KC Sir Stephen Timms MP Shabir Randeree CBE Prem Goyal OBE JP Mayor Andy Burnham David Dangoor DL Preet Kaur Gill MP Bushra Nasir CBE DL

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

CEO'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

The CEO presents her report for the year.

For many last summer’s riots, following the murders of Bebe King, Elsie Dot Stancombe and Alice da Silva Aguiar in Southport, were a terrifying echo of racism in 1970’s and 80’s Britain. However, for those of us working at the “coal face” of dialogue across difference, the mobilisation of the far right and the outburst of riots across the country were sadly unsurprising. Social tensions and grievances, the impacts of the cost-of-living crisis, community polarisation and division, and declining political trust have been unaddressed for generations. And in the last 2 years, influenced by global affairs and international conflicts, preexisting relationships between people of faith – and even the willingness to hear and understand different views – have sadly eroded in the spaces in which we work.

As a national interfaith organisation, the Faith & Belief Forum (F&BF) witnessed the significant impact of the riots, and increasing polarisation, on the communities we serve:

Teachers reported difficulty in managing conversations post-riots and in response to events like October 7th and the ongoing conflict in the Middle East. Children struggled to process what was happening, lacking the skills and space to engage constructively. The need for dialogue, empathy, and critical thinking was clear. With the limited resources and financial and structural issues facing the subject of RE (with 51% of RE classes taught by a non-RE specialist), the quality of RE teaching in your area is a postcode lottery. However, due to it being a space where students can share their ideas and values, the subject becomes the “dumping ground for controversy”. Teachers, unprepared, often shut down conversations out of fear. We responded to this need through creating tailored advice and resources, like our resource Sensitive Issues: Supporting Students with Skills For Dialogue.

Universities saw heightened anxiety, when students have already been experiencing rising levels of hate and division. The Union of Jewish Students recorded a staggering 413% increase in antisemitic incidents from the academic year 2022-23 to 2023-24. We have been offering increased support, including regular check ins and training in conflict resolution, to our ParliaMentors students. We also facilitate opportunities for them to feel heard and empowered, by connecting them with decision makers: for example, in September 2024 Richard Burgeon MP held a round table with a number of our participants, to hear the experiences of them and their communities during and following the riots.

Communities have been driven apart. Our work in areas like Solihull and Glasgow showed communities reeling, in shock and in pain, following the riots and the ripple effects across the UK. With partners Why Me? and Interfaith Glasgow, we held restorative listening circles (as an extension of our Interfaith Restorative Justice Project). These informed our joint report launched in May 2025. As one interviewee said, “It’s not just about this one event; people have been struggling for years.”

Others withdrew from public life, feared retaliation, or altered mosque security practices. One respondent said: “we used to keep the door open so people who are travelling through can pop in to pray, but we’ve had to change that”. There were reports of increased surveillance, burnout, and anxiety. We know that rising division and growing xenophobia is not experienced solely by one group. Through our research we uncovered the effect on Sikhs, Hindus, Jews, and white immigrants highlighting broader xenophobic dynamics.

The publication of our Restorative Responses to the UK Summer Riots 2024 report was an important moment. This report explores how restorative justice practices can play a crucial role in helping communities reflect, heal, and rebuild trust after times of crisis. The Interfaith Restorative Justice project seeks to merge restorative justice and interfaith dialogue to address instances of faith-based hate. Our work in this space has never felt more important as we navigate a period of increased polarization and social fragmentation.

“Hope: hope in the face of difficulty. Hope in the face of uncertainty. The audacity of hope!” – Barack Obama

Despite what can seem like an impossible task, and one that could take a toll on all of us at F&BF, in the last year we have continually decided to hope audaciously.

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THE FAITH & BELIEF FORUM

CEO'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Through our schools work this last year,

We have seen the deep impact that empowering teachers to change their school culture and create brave spaces for dialogue has. And the deep impact that opportunities for encounter, spaces for conversation, and building religious literacy has in children.

“[F&BF teaches] life skills essential for young people. The workshop plans online have enabled us to run a dropdown day with our sixth form students focusing specifically on these key skills that are not taught elsewhere in our curriculum.”

Sally, Sixth form lead from a college in London

Through our work in universities and with young people:

We have seen the impact that believing in young people, co-producing programmes and solutions, and providing intensive training and support has in building the next generation of interfaith leaders.

"All opportunities I really believe I wouldn’t have got without this programme. Parliamentors allowed me to develop from being quite shy and awkward to being an interfaith leader and someone who aspires to continue working in politics and helping local communities”.

Arjan Rai, alumni 2023-24

Through our work in communities:

We have seen the power in recognising the role of faith in society, exploring intersectional identity, and providing opportunities for communities to co-produce events and feel truly heard, to heal and build belonging.

“A real celebration of multicultural London"

Jessica Boxer, Hand in Hand

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THE FAITH & BELIEF FORUM

CEO'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Looking Ahead: Presenting Interfaith as a Solution to Division

From January 2024, we led an inclusive national consultation on the past, present and future of Inter Faith Week. Supported by MHCLG, it culminated in the seminal report Bursting the Bubble: Recommendations for Enhancing Inter Faith Week in England.

As we continue to lead on the development and delivery of Inter Faith Week, alongside national interfaith partners, and through engagement with government departments and initiatives such as the Commission on Community and Cohesion, F&BF is entering a new era. We have always known that our core interfaith education, youth engagement and community programmes are sector leading. But this engagement with national conversations on cohesion, and leadership of initiatives with a national reach, brings us a new opportunity: to advocate for quality interfaith programming as a solution to division.

I would like to express my deepest gratitude to our staff, trustees, partners, and supporters. Your ongoing commitment to our mission is what drives us forward, and I am excited to see what we can achieve together in the year ahead.

(a ................................................ C2F46C6024D648C... by: Carrie Alderton Interim CEO Faith & Belief Forum

07-Jan-26 | 12:09 GMT Date:

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report together with the financial statements of The Faith & Belief Forum for the year 1 April 2024 to 31 March 2025. The trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Financial review

The charity generated incoming resources of £920,891 (2024: £810,498). This increase is due to an increase in charitable activities £649,391 (2024: £537,589). The level of donations have remained similar to prior year £270,635 (2024: £271,561). There has been a consequent increase in expenditure on charitable activities which increased to £953,729 from £929,158 in the previous year. The charity recorded a net decrease in funds of £32,838. At 31 March 2025 the charity had net assets of £77,039 (2024: £109,877).

Going concern

The challenges faced by the charity in 2024/25 resulted in a reduction of the free reserves to £39K. The challenging environment has continued into the current year, with the charity navigating realignments of donor relationships and the trustees considering the medium-term future of the Charity. The impact of the reduction in income has resulted in a plan to restructure the charity to ensure its long-term financial stability. Having considered the forecasts running into the financial year ending 31 March 2027 based on the changes being proposed within the agreed timeline the trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

The trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in fixed assets. It is currently the policy of the charity to maintain free reserves at a level considered adequate to provide sufficient funds for between one- and three months’ unrestricted expenditure, an amount equivalent to between £40,000 and £150,000. The free reserves amounted to £39K at 31 March 2025 which is below the desired range. Due to the reduction in Core funding there was a reduction of reserves as these were used to cover the shortfall within the year as plans were put in place to realign the Core budget with current income levels, this has included the restructure of Senior Management, the removal of the previous Director, and the move to a remote finance delivery model, this has provided a cost saving for Core in 25/26, for comparison the planned Core expenditure at the beginning of FY 24/25 was £357K the current planned expenditure in the Reforecast FY 25/26 is £256K a reduction of £101K of expenditure. In addition to this we are currently working with our Trustee Board to secure additional Core funding from our networks with a target of £100K in FY 25/26 of this £50K is already secured another £50K in the pipeline, if the additional £50K is secured this would allow us to potentially add between £10-£15K to reserves bringing us back in line with policy.

Pay policy for staff

We are committed to a fair and transparent pay structure that ensures we treat all staff equitably with regards to terms and conditions of employment, including pay. Employee salaries are awarded based on the organisation’s salary scales. The scales are reviewed annually, taking into account inflation and cost of living increases (based on the Consumer Price Index and Retail Price Index), sector benchmarking, and funding available. The Faith & Belief Forum fully supports the living wage (as set by the Living Wage Foundation) and will aim to pay at this level, subject to affordability.

Risk management

The trustees assess on an annual basis the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The principal risks faced by the charity are the security of its funding streams and the operational risks from working with young people in areas dealing with sensitive subjects. The trustees mitigate the risk to funding streams by diversifying as much as possible the sources of income. The operational risks are mitigated by having an effective safeguarding policy to which all staff adhere to. In addition,

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THE FAITH & BELIEF FORUM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

there is a staff handbook which reflects updated policies and procedures on whistleblowing and staff data handling and protection.

Safeguarding

The charity trustees take their responsibility in relation to safeguarding seriously and have adopted a Safeguarding policy to protect vulnerable people from abuse and to prevent abuse from happening in the first place.

Conflict of interest

All trustees give of their time freely and no trustee remuneration was paid in the year. The trustees and staff are required to disclose all relevant interests and where necessary withdraw from decisions where a conflict arises. The trustees also confirm that there is an appropriate and approved anti bribery policy.

Information on fundraising practices

The charity does not fundraise from the general public, but focuses its activities on specific charitable foundations. Therefore the trustees do not consider that the requirements of the fundraising code to be applicable to the charity.

Structure, governance and management

The Faith & Belief Forum is a Charitable Incorporated Organisation (CIO). The organisation was founded in 1997 as an unincorporated charitable trust called Three Faiths Forum (1092465). All activities, liabilities and assets transferred to the CIO (1173369) in 2017, and in 2018 the CIO changed its name to The Faith & Belief Forum. The object of the CIO is to promote religious harmony and good communal relations through promoting knowledge and mutual understanding of, and respect for, the beliefs and practices of different religious faiths, and beliefs. Our vision is of a connected and supportive society where people of different faiths, beliefs and cultures have strong, productive and lasting relations. The organisation is governed by a board of trustees who meet regularly during the year. Finance and Compliance Committees meet before each board meeting to monitor and review relevant matters in more depth.

Methods of appointment or election of Trustees

The Board of trustees is authorised to appoint new trustees, as required, who are selected on the basis of their relevant skills, experience and knowledge and the active contribution they can make to the organisation. New trustees are briefed on the organisation’s constitution, strategic plan, policies, and procedures. They receive a copy of the previous years’ financial statements and a copy of the constitution and are expected to sign a declaration of interests form. Trustees are responsible for the strategic direction of the organisation and delegate management to the Director. The Director reports to the board on organisational performance against operational plans approved by the Board. The Director and Head of Operations report regularly via the Finance Committee on the financial position of the organisation. The charity is grateful to its team of staff, consultants, freelancers, interns and volunteers for their outstanding dedication, hard work and commitment during the year.

Approved by order of the members of the board of trustees and signed on their behalf by:

Dr M A Ziff (Chair of Trustees) Date: 07-Jan-26 | 14:32 GMT

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THE FAITH & BELIEF FORUM

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of trustees and signed on its behalf by:

Dr M A Ziff (Chair of Trustees) Maw Date: 07-Jan-26 | 14:32 GMT[[+][DocuSigned][ by:]

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent examiner's report to the trustees of The Faith & Belief Forum ('the charity')

I report to the charity trustees on my examination of the financial statements of The Faith & Belief Forum for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: peak Maly | DocuSigned by: Mark Hart FCA A55DB73BE5414B0... Blick Rothenberg Limited Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH

Dated: 07-Jan-26 | 15:22 GMT

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other income
Total income
Expenditure on:
Raising funds
5
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
14
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
270,635
1,955
865
273,455
6,875
331,492
338,367
(64,912)
109,877
(64,912)
44,965		 Restricted
funds
2025
£
-
647,436
-
647,436
-
615,362
615,362
32,074
-
32,074
32,074		 Total
funds
2025
£
270,635
649,391
865
920,891
6,875
946,854
953,729
(32,838)
109,877
(32,838)
77,039		 Total
funds
2024
£
271,561
537,589
1,348
810,498
14,850
914,308
929,158
(118,660)
228,537
(118,660)
109,877

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 24 form part of these financial statements.

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THE FAITH & BELIEF FORUM

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025

2025 2025 2024
Note £ £
Fixed assets
Tangible assets 11 5,873 7,831
5,873 7,831
Current assets
Debtors 12 49,997 67,050
Cash at bank and in hand 191,338 183,355
241,335 250,405
Current liabilities
Creditors: amounts falling due within one
year 13 (170,169) (148,359)
Net current assets 71,166 102,046
Total assets less current liabilities 77,039 109,877
Total net assets 77,039 109,877
Charity funds
Restricted funds 14 32,074 -
Unrestricted funds 14 44,965 109,877
Total funds 77,039 109,877

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

Dr M A Ziff

(Chair of Trustees) Date: 07-Jan-26 | 14:32 GMT

The notes on pages 13 to 24 form part of these financial statements.

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THE FAITH & BELIEF FORUM

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash used in operating activities
16
Cash flows from investing activities
Dividends, interests and rents from investments
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
17
The notes on pages 13 to 24 form part of these financial statements		 2025
£
7,118
865
865
-
7,983
183,355
191,338		 2024
£
(166,892)
1,348
1,348
-
(165,544)
348,899
183,355

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE FAITH & BELIEF FORUM

1. General information

The Faith & Belief Forum is a Charitable Incorporated Organisation registered at the Charities Commission in England & Wales with charity number 1173369. The address of the registered office is Star House 104-108 Grafton Road, London, NW5 4BA.

The financial statements are prepared in sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are round to the nearest £.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true 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 has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Faith & Belief Forum meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The challenges faced by the charity in 2024/25 resulted in a reduction of the free reserves to £39K. The challenging environment has continued into the current year, with the Charity navigating realignments of donor relationships and the trustees considering the medium-term future of the Charity. The impact of the reduction in income has resulted in a plan to restructure the charity to ensure its long-term financial stability. Having considered the forecasts running into the financial year ending 31 March 2027 based on the changes being proposed within the agreed timeline the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.3 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.

Donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities as the related expenditure is incurred.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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THE FAITH & BELIEF FORUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Financial instruments

The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

The charity’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors, and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE FAITH & BELIEF FORUM

2. Accounting policies (continued)

Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the charity would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.10 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE FAITH & BELIEF FORUM

2. Accounting policies (continued)

2.11 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.

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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Donations
Donations in kind
Total 2024		 Unrestricted
funds
2025
£
238,185
32,450
270,635
271,561		 Total
funds
2025
£
238,185
32,450
270,635
271,561		 Total
funds
2024
£
193,681
77,880
271,561

Donations in kind relate to services provided in relation to to the charity's rental space.

4. Income from charitable activities

Income from charitable activities
Total 2024		 Unrestricted
funds
2025
£
1,955
-		 Restricted
funds
2025
£
647,436
537,589		 Total
funds
2025
£
649,391
537,589		 Total
funds
2024
£
537,589

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Charitable expenditure

Direct costs
Support costs
Governance costs
Fund raising costs
Total 2024		 Unrestricted
funds
2025
£
269,026
54,466
8,000
6,875
338,367
391,569		 Restricted
funds
2025
£
514,266
101,096
-
-
615,362
537,589		 Total
funds
2025
£
783,292
155,562
8,000
6,875
953,729
929,158		 Total
funds
2024
£
738,456
167,852
8,000
14,850
929,158

6. Direct costs

Employment costs
Freelance assistants
Event expenses
Mentoring expenses
Total 2024		 Unrestricted
funds
2025
£
225,889
37,433
5,704
-
269,026
277,091		 Programs
funds
2025
£
316,778
132,919
60,791
3,778
514,266
461,365		 Total
funds
2025
£
542,667
170,352
66,495
3,778
783,292
738,456		 Total
funds
2024
£
548,887
88,075
53,007
48,487
738,456

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Support costs

General office costs
Bank charge and interest
Insurance
Communication expenses
Travelling and subsistence
Marketing and publicity
Professional fees
Rent and rates & maintenance
Staff training
Depreciation
Total 2024		 Unrestricted
funds
2025
£
30,668
135
4,890
6,058
22,258
2,179
19,511
43,403
1,098
1,958
132,158
91,629		 Programs
funds
2025
£
2,331
-
-
-
17,018
2,105
-
-
1,950
-
23,404
76,223		 Total
funds
2025
£
32,999
135
4,890
6,058
39,276
4,284
19,511
43,403
3,048
1,958
155,562
167,852		 Total
funds
2024
£
26,003
162
4,726
10,401
13,008
5,347
18,949
82,570
4,076
2,610
167,852

8. Governance costs

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Legal and professional fees 8,000 8,000 8,000

The independent examiner's remuneration amounts to £8,000 (2024 : £8,000).

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
484,674
34,147
23,846
542,667		 2024
£
486,316
37,970
24,601
548,887

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Staff costs (continued)

The average number of persons employed by the charity during the year was as follows:

2025 2024
No. No.
Employees 16 16
The number of employees whose employee benefits (excluding employer pension costs) The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2025 2024
No. No.
In the band £70,001 - £80,000 1 1

The key management personnel of the charity comprise the Director and the Heads of Operations. The total remuneration of the key management personnel of the charity was £180,957 (2023: £219,593).

10. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no trustee expenses have been incurred (2024 - £NIL).

11. Tangible fixed assets

Cost
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Office
equipment
£
43,638
43,638
35,807
1,958
37,765
5,873
7,831

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Debtors

Due within one year
Trade debtors
Other debtors		 2025
£
10,509
39,488
49,997		 2024
£
550
66,500
67,050

13. Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income		 2025
£
780
2,856
166,533
170,169		 2024
£
780
15,579
132,000
148,359

Deferred income represents grants and donations received in respect of projects to be run in the following financial year.

Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 2025
£
124,000
138,000
(124,000)
138,000		 2024
£
139,581
124,000
(139,581)
124,000

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds
Statement of funds - prior year
Balance at
1 April 2023
£
Unrestricted funds
General Funds - all funds
171,577
Restricted funds
Restricted Funds - all funds
56,960
Total of funds
228,537		 Balance at 1
April 2024
£
109,877
-
109,877
Income
£
272,909
537,589
810,498		 Income
£
273,455
647,436
920,891
Expenditure
£
(391,569)
(537,589)
(929,158)		 Expenditure
£
(338,367)
(615,362)
(953,729)
Transfers
in/out
£
56,960
(56,960)
-		 Balance at
31 March
2025
£
44,965
32,074
77,039
Balance at
31 March
2024
£
109,877
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds
-
109,877

Restricted funds conists of the following:

Dangoor Online of £3,000 - this represents unspent funding from the Dangoor Online project, carried forward to support additional resources.

National Lottery of £10,293 - allocated for outstanding partner costs and ongoing staff time related to the project.

NCS of £5,987 - relates to ongoing project cost.

Sternberg of £6,933 - relates to funding for the Parliamentors programme covers delivery for the remainder of the current student year.

Culham of £5,861 - represents a portion of funds received in advance.

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE FAITH & BELIEF FORUM

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
Restricted
funds
2025
£
£
Tangible fixed assets
5,873
-
Current assets
171,261
70,074
Creditors due within one year
(132,169)
(38,000)
Total
44,965
32,074
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Tangible fixed assets
7,831
Current assets
250,405
Creditors due within one year
(148,359)
Total
109,877
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net expenditure for the year (as per Statement of Financial Activities)
(32,838)
Adjustments for:
Depreciation charges
1,958
Dividends, interests and rents from investments
(865)
Decrease/(increase) in debtors
17,053
Increase/(decrease) in creditors
21,810
Net cash provided by/(used in) operating activities
7,118		 Total
funds
2025
£
5,873
241,335
(170,169)
77,039
Total
funds
2024
£
7,831
250,405
(148,359)
109,877
2024
£
(118,660)
2,610
(1,348)
(27,500)
(21,994)
(166,892)

16. Reconciliation of net movement in funds to net cash flow from operating activities

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Docusign Envelope ID: F8683070-E831-4C07-BFB0-F1F8E2C2CA92

THE FAITH & BELIEF FORUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Analysis of cash and cash equivalents

2025 2024
£ £
Cash in hand 191,338 183,355

18. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2024
£
183,355
183,355		 Cash flows
£
7,983
7,983		 At 31 March
2025
£
191,338
191,338

19. Related party transactions

During the year, the charity received donations from trustees totalling £nil (2024: £40,000).

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