THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Charity No. 1179855
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 CONTENTS PAGE Annual Report Independent Examiners Report Statement of Financial Activities Balan Sheet Notes to the Accounts 10-12
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT The trustees present their annual report and audited financTral Statements for the period ended 31 December 2024. Tho financial statements comply with current statutory requirements, the charity'$ trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities SORP (FRS102} and have been prepaTrd in ac¢ordantx with the accounting policies set out in note I to the accounts. Trustees The trustees in the period were.. Clifford Card Gian Maaha Bal Saini (Chair) Th8r6 is a minimum of three and a maximum of five trustees. Principal oiTice 6 Upper Vauxhall The Vauxhalls Wolverhampton WV14SY Advlsers Inv8Stment Managers Quilter Cheviot Senator House 85 Queen Ifictoria St London EC4V 4AB Audltors Kingston Burrowes 450a London Road Chearn SM3 8LB Bankers Ltyds Bank (Chesham Bran¢h) PO Box 1000 Andover BX1 ILT UK Solicitors DK Legal 55 Wesffleld Road Surbiton Surrey KT8 4EJ
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- continued Report of the Trustees for the Perlod Ended 31 Docember 2024 The challenges of loneliness, isolation, and food insécurity COTltinue to weigh heavily on communrties across the UK, parb'cularly among older people. While the 8¢Uta impart of the COVID-19 pandemic has eased, its lasting effects on mental health and social wellbeing remain evident. Many older individuals have yet to regain the confidence to return to their pre-pandemic routines, and the cost-of-living crisis has only intensified these diffiGulties. Rising food and energy costs disproportionately affect vulnerable groups, further increasing the risk of poverty, isolation, and ill heallh. Throughout 2024, our small charity has remained committed to supporting grassroots mmunity groups in the West Midlands, with a strong focus on reducing loneliness and social Ésolation among older people. We have conlinued to back initiatives that foster companionship and mutual support, particularly through community mea15. Eating together has proven to be one of the simplest yet most effe¢tive ways of building connections, reducing stigma. and creating welcoming spaces where people of all backgrounds feel valued and included. These shared m8als have also been crucial in promots-ng understanding between different groups. challenging 8t6reotypes. and helping older people to regain a sense of belonging. In addition to communal meals. we have supported a range of social and wellbeing activities, including befriending seices, telephone companionship, tea parties, (*ffee mornings, and group outings. These activities have given older people opportuniiies to reconnect, enjoy meaningful conversations, and participate in their communities. Vve remain mindful that many older petsple continue to feel uncertain about the future, particularly with the ongoing pressure5 of high living costs. As such, our support is not just about providing social activities but about helping older people rebuild their confidence, restore their independence, and rediscover joy in everyday life. A key part of our work in 2024 has been the continuation of our grant-making programrne. While we were able to support several organisalions dellvering vital community services, the level of funding we provided-£500 per grant-was not sufficient to meet the growing needs of local groups. Many organisation5 that share our mission to reduce isolation and food poverty require greater resources lo deliver meaningful imp8Ct. This has highlighted the importance of strengthening our grant programme so that more groups can benefit from sustained and effective Support. Looking ahead, we are Committed to enhancing this aspect of our work. From 2025. we will be increasing our grant awards to between £750 and £1,000 per organisation. We also intend to prioritise grants for initiatives that provide support during the winter months, when the cost of living typically rises and the cost of fuel pla$ additional burdens on older people. By targeting support during Ihese difficult periods, we hope to help reduce hardship and ensure that older people remain connected, supported, and warm durtng the ldest months of th8 year. Our long-term vision is to establish a dedicated venue that will act a$ a hub for older people to meet, 8at, and enjoy activities together. Such a space would provide continuity and a sense of stabilty, enabling us and our partners to expand the range of activities on offer and ensure that older people are n6ver left to face loneliness in silence. The Trustees Main committed to championing the dignity, health, and wellbelng of older people. While challenges remain, we are optimistic about the future and detemlned to continue building partnerships. supporting gra55roots groups, and offering direct help to those most in need.
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- contlnued Qbjectiv8s and activitios for th8 public benefit Th8 objects ot the charity are, for the b8n8fit of the public, to relieve the needs of older people who are struggling with isolation and loneliness and to promote racial harmony between them, in particular, but not excluswely, by.. {1) coordinating visits to places of worship and providing othèr opportunities for individuals tc learn about different faiths while developing friendships and building a sense of community., (2> supporting, COrdInatIng and giving information to minority ethni¢ group8 and charitable organisations, including the production of a newsletter., and 13) making grants to other organisations lin particular, faith organisations) which tackle loneliness arnong older pgople by organising social and feisure aclivitie8 for them in each case, in Bimiingham and Ihe Surrounding areas. The trustees confirm that they have refeed to the guidan contained in the Ghartty Commissions, general guidance on puNic benefit when reviewing the Trust's aims and objectives and in planning fulure actÉvit¢es. Organlsatlonal structure The trustees meet two times a year in May and November and give detailed conslderation to monitoring the progress of the Charity in achieving rts performance and quality otyectiv&s. This inclLths reporting on returns from investments as well as the identification and management of risk. All trustees give of their time freely and no remuneration was paid in the year. Induction and trainlng All trustees receive induction upon appointment to their respective roles. Trustees re1ve a copy of a range of doGuments including the Annual Report and Accounts and the charitable de8d. Training is provided on a variety of topics relevznl to the work conducted by the FOFFOR Trust. InvtM0nt powers and policy The charty Is looking to m8ximise the return in terms of both income and ¢aptial. Th8 twstees have unrestrieted powers of investment. As pemiitted by the charity's constitution, the trustees have given the investment managers discretion to manage the portfolio within an agreed risk profile. The charity operates an ethiGal investment policy whereby il does not invest in companies which derive a signsficant proportion of their tumover from any of the following activities.. Gambling The production or sale of alcohal, tobacco or amiaments The publication and distribution of pomography The investmenl managers, Quilter Cheviot are monitored by the tNstees by reference to a numb&r of ir7dices and benchmarks including the perf0rrnan achieved by other similar funds.
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- continued Acttvity and flnancial review Gr055 income for the year was £11,482. After net expenditure of £1,917 for costs of raising funds and charitable adivities of £1,683 net incoming re$our¢es for the year amounted to £7,882 (2023.. £7,988). INhen investment losses of £(2,243) are taken into account, the fund increased In value by £5,839 leaving funds as al 31 December 2024 of £439,21312Q23 '. £433,574). Reserves policy The Trustees have agreed a reserve policy to hold beeen 3 and 6 months of running Costs, (running ¢osts in 2024 were estimated at £12,000) to ensure sufficient cashflow for day-to- day activitl85, meet opportunities that arise over time, and miligats any unforeseen events that could come up over the nexi 12 months. Plans for future periods The trustees wlsh to increase.. More Gollaboration and building partnehIP with charities 8nd organisations wothing in Birmingham and surrounding areas to prevent loneliness and isolation amongst older people. Organise day tri. walks and Shared lunches to bring generation8 together in friendship and shared experiences. Walking tours of pla$ of worships. To introduce a small grant scheme to award grants to charilies or organi8atlon8 10 prevent loneliness and isolation amongst older people in Birmingham and surrounding areas. The trustees are responsible for reviewing major strategi¢, ft'nanGial and operational risks to which the ¢harily is 8xposed. The principal risks faced by the charity lie in Ihe perf0rnan of investments. We minimise investment risk through the maintenance of a diverse stock market portfolio. The trustees consider variability of inveslmenl returns on the expendable endowment lo constitute the charity's major financial risk. This mitigated by retaining expert investment advisors and havlt)g a diversified investment portfolio. Trustee$, rn8ponsibilitie$ statement The trustees are responsible for preparing the trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1. The law appllcable to ¢hariti6s in England & Wates requires the trustees to preparè financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resouroes and application of reSourS of the charity for tha period. In preparing these financial statements, the Irustees are requlrecf lo. select suitable ac¢ounling policies and then apply them corEistently- observe the methods and principles in the Charities SORP (FRS1021:
THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST FOR THE PERIOD ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT . continued make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is appropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records that disclose with reasonable accuraGy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with ttrte Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Injst deed. They are also responsible for safeguarding the assets of the Gharity and hence for taking reasonable steps for the prevention and detection of fraud and other irrU[ane8. Indep¢ndent Examlnerg A resolution to appoint Kingston Burrowes as independent examinèrs of the charity will be put to the Annual General Meeting. The annual report was approved by the trustees on 2025 and is signed on their behalf by.. 821 Saini Chair The Fellowship Of Faiths For One Ra Trust 6 Upper Vauxhall The Vauxhalls Wolvethampton 14SY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FELLOWSHIP OF FAITHS FOR ONE RACE TRUST I report to the charity trustees on my exomination of the aCCotS of the charity for the perit)d ended 31 December 2024 which are set out on pages 8 to 12. Responslbllltles and basis of report As the charity's tru8tees you are responsible for the preparation of the a¢¢ounts in accordance ith the requirements of the Charities Act 2011 ('the Aot,). I report in respeGt of my examination of the charity's accounts carried Olrt under section 145 of the Act and in carrying out my examination I have followed all the applicable Dits¢tions given by the Charity Commission under section 14515){b) of the Act. Indèpéndent examlnefs ststement sin the charty's gross income exoeeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirn that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have comp]eted my examination. I confim that no male¥i81 matters have come to my attention in connection with the examinalion giving me U$9 to believe that in any material respect.. accountlng records were not kept in respect of the charity as required by section 130 of the Act,. or 2. the accounts do not accord wrth those records., or 3. the accounts do not comply with the applicable requirements Conrning the form and content of acGounts 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 exgmination}. I have no Concerns and have come across no other matters in connectlon wlth the examination to which attention 8hould be drawn in this report in order to enable 8 proper understanding of the a¢count8 tc be reached. K.C. Fisher FCA Kingston Burrowes Audlt Ltd 308 Ewell Road Surbiton Surrey KT6 7AL Date: 2S &tot*2025
FELLOWSHIP OF FAITHS FOR ONE RACE TRUST IReglst•red Charity No. 11Y98SS) FOR THE PERIOD ENDED 31 DECENIBER 2024 UnrestTi¢ted Funds Unrestrlcted Funds 2023 Nots8 InGonie from: Donations InvesthEnts 11,482 13,145 Total 11.482 13,145 expondlturn on.. Raislng funds- investrnt management fees Charitabte activities 1,917 1,683 2.817 2,340 3,600 5,157 Net in¢ome bèfore gains on inve8tm*nts 7,882 7,988 Gain l (Lossl on investment assets 12,2431 21.472 Net Income 5,639 29.460 Roconciliati¢)n of funfls Total funds brought forward 433,574 404,114 Total fund8 cathed I04¥d £439,213 £433,574 The Stalement of Financial Activities includes all gains and losses recogni5ed in the year. A]1 income and expendlture derives from continuing a¢bwbe¥. The notes form part ofthese Financral Ststements
FELLOWSHIP OF FAITHS FOR ONE RACE TRUST IReg15tered Charty No. 11798551 BALANCE SHEET AS AT 31 DECEMBER 2024 Notes 2024 2023 FIX As8Ots Snvestments 353.421 355,251 Current Assets Cash at bartk and in hand 87,808 81,251 Gredltorn Amounts falling duè WFthln one year 2,016 2,928 Not Current Assets 85.792 78,323 Net A98ets £439,213 £433,574 Funds Unrestricted £439,213 £433.574 Appioved on behalf of the Trustees on 16Lts 2025 and signed on its behalf by Bal Saini Chair 4 The rKJtes form part of these FiTrancld Slalèments
FELLOWSHIP OF FAITHS FOR ONE RACE TRUST (Registered Charity No. 117S855J NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES a) Basis ol proparion The charity constitute8 a public bet)efit entity a5 defined by FRS 102. The financial stalemonts have been prepared in accordance wllh Accounting 2nd Repong by Charities.. Statement of Recommended Practice applicable to charities prepaFing th8ir accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Stand2rd appllcable in the United Kingdom and Republic ol Ireland {FRS 1021. the Charities Act 2011, the Companies M 2006 and UK Generalty Accepted Accounting Pra¢tic6. The financial statem8nts are prepared on a going concem b88ig und8T the hrstor?l cost convention wilm items recognised at co¥1 or ransaGtign value unless otheiSe stated in the r91evant nolelsl to these aoUnts. The significant accounting policios applled in the preparation of these fin8ncial slalements are sei out Lwl¢)w. policies have been ¢onsi$tently applied to all years pregented unle3$ OtheNtse $1gted. bl Income recognition All in¢omin9 resources are included in the Statement of Finaft¢lal Activitles when the Gharily is leyally gntitled to the income after any performance conditions havo been mel, the amount can b& measured reliably and It is probable that Ihe InMe w411 be reG$ived. Investment income is earned through holdlngs of lislad investr*Ènts and includes dividends and Interest. Income from listed investments is reoognised as the charity's right lo reNe payment 1$ established. Bank interest is o09n18ed on a receivable basis. Donations are re¢ognised when the charty has been notsfied of the amounts and the 8etlbm@nt date in writing 8nd il is probable that the donor will fvlfil their st81ed obligations. If these condliions are not met the donation is recognised when reived. ¢) Expenditure recognltlon Expenditure is recognlsed On trere is a legal or Constructive obligation lo rake payment to a third paty, it is probable that settlernent will be requirèd and the amount can be me8sured reJiBbly. Expenditure is classified under the following actwity headings.. Costs of raising fvnds comprise investment management fees Expendllure on tharitable activities includes the cost incurred in the furtherance of the charity's objects Exnditur• includes Ihose which relate directly to each activity and also indirect costs. including govemance costs that are ne¢È8sary to support those acttvkles. d) Fund aGcounting Unrestricted general funds are those fijnds which are freely available for use in fvrtherance of the objocts of the charity and wh%ch have not been deyign8ted tor a particular PLsipose e} Flnan¢ial instrumgnts Debtors and creditors with no stated intere$l rate and receivable or payable within one year are recorded al transaction prte8. Any 108se8 arising from Impatrment are recognised in the Statement of Financial Aclivilies. fj Investingnts Investments are reeognised initialFy at fair value whlch 19 normalty the traTYsactlon pric9 excludiny Irar15a¢tion costs. Subsequently, they are measured at fair value (quoted market value on a recognised stock exchattgel with changes reeognised ID the Ststemenl of Financial Activilies if the investments are publiGly traded or their fair value can otheNise te measured reliably. 10
FELLOWSHIP OF FAITHS FOR ONE RACE TRUST (Registered Charity No. 117g8551 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Icontd... 2. DONATIONS Unr•gtrloted Funds 2024 Unrn8trl¢ted Funds 2023 Donations £Nil £Nil 3. INVESTMENT INCOME Unre8trlct8d Funds 2024 Unrestrlcted Funds 2023 Bank interest and dividends Management fees deducted from Unit Trust 9,56S 1,917 10,328 2,817 £11,482 £13,145 CHARITABLE ACTIVITIES Unrnstrictod 2D24 Unre8trkt•d 2023 Donations & grants paid Office expenses Governance (Nolt 5) 500 175 1,008 1,250 1,090 £1,683 £2,340 Anelysis of grants paid- Unrestrl¢ted 2024 Unrostrictgd 2023 Grants to institutions Grants to individuals Other donations 500 1,250 £500 £1.250 The Trustees have taken advantage of the concessv)n in the SORP to adapt a natural analysis of resources expended on thafilable aclivitses. 11
FELLOWSHIP OF FAITHS FOR ONE RACE TRUST {Regiered Charity No. 1179855) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Icontd.. S. GOVERNANCE 2024 2023 Legal feès Independent exanlnation 1,008 1.090 £1,008 £1,090 6. FIXED ASSET INVESTWIENTS The typos of inYeslffnt held at 31 December 2023 and 31 December 2024 and the matket values were: 2024 2023 Unil Trusts £353,421 355,251 Historical cost £288,504 £288,091 The movement in the market value durng the year was.. 2024 Unlt Trust Brought forward at 1 Jaftuary 2024 Disposals 8t valuation Acquisitions at cost Unrftalised Ilossl 355,251 413 12.243) mark value at 31 December 2024 £353,421 Comparative information for the movement in the market value in the pVIouS accounting year is as follows 2023 Unit Trust Investment Loan Total Brought forward at 1 January 2023 Disposals at valuation Acquisitions at cost Llnrealised gain 371,315 {32,747} 371,315 (32,747) 18,683 16.683 Marketvalue at 31 December2023 £355,251 £355,251 7. CREDrroRS: amounts falllng duo wlthln on6 year 2024 2023 Accruas £2,016 £2,928 12