THE SOCIETY OF THE FAITH RATED Com istered Number 00214216 and & WAles Charl number 232821 NUAL REPORT FOR THE YEAR ENDED 31ST MARCH THE SOC TY OF THE FAITH INCORPORATED istered N 00214216 and & Wales with the Chari Commission number 232821 iste Contents Legal and Administrative Inforn]ation Report of the Trustees Report of the Independent Examiner io-ii Statement of Financial Activities 12 Balan¢e Sheet 13-14 Notes fonning part of the Financial Statements 15-25 Account of Funds Held in Trust 26-27 THE SOCIETY OF THE FAITH INCORPORATED stered Number 00214216 land & Wales isleTed with the Charit Commission number 232821 al and Administrative Infornlation Constitution The Society of the Faith (In¢orporated) is a company limited by guarantee and a regislered charity govemed by its memorandum and articles of assoeiation. Charity number 232821. Company number 00214216. Directors and trustees The directors of the charitable company Cth¢ charity,) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trnstees. The trustees serving during the year and since ihe year end were as follows. THE COURT OF FELLOWS Dr. Andrew Hobley The Rev. David Lawren¢e-March Mr. Timothy Abraham The Rev. Dr. Charles Bell Professor Andrew Chandler William Chapman Esq. CVO The V¢n. Dr. G¢offrey Dumbreck (From September 2025) Professor the Rev. Canon Peter Galloway LVO OBE Mr. PeteT Gaston Dr. Brian Hanson CBE The Ven. Dr. William Jacob The Rev. Siephen Tucker Mr. Martin Woods (Prin¢ipal) (Vice Principal) Members of the Court act in an honordry capacity. Secretary Treasurer Mrs. Margery Roberts Principal Office & Registered Office Faith House, 7 Tufton Street, Westminster, London SWI P 3QB SOCIETY OF THE FAITH CORPO TED Number 00214216 land & Wales istered with the Chari Commission number 232821 Le al and Administrative Inf miaiion Continu Aecoulltants Azets, 2nd Floor. Regis House, 45 King William StreeL London EC4R 9AN Bankers Barclays Bank Plc., Leices￿ LE87 2BB Central Board of Finance, CCLA. One Angel Lane, London EC4R 3AB Solieitors Lce Bolton Monier-williams, l The Sanctuary, London SWIP 3JT THE SOCIETY OF THE FAITH INCORPORATED istered Number 00214216 land & Wales isleTed with ihe Chari Commission number 232821 rt of th¢ Court of Fellows Directors ar ended 31 March 2026 for the The Court of Fellows (trustee body and board of directors) are pleased to present their report together with the financial statements of the charily for the year ended 31 March 2026. The financial slalements comply with current statutory requirements (the Charilies Act 2011. the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to clMriti¢s prq)aring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102). l. Objectives and aetivltfies The objects of ihe charity are to bring togeiher Christians in communion with the See of Canterbury for mutual assislance in ihe work of Ihe Christian chU￿h and to support and further charitable undertakings, particularly those which popularise the Catholic faith. To achieve these object4 the Society aims lo cary out the following activities.. lel out functional accommodation to other charitable organisations wilh similar objects and to Watts & Co Ltd., a long-established rim supplying e￿leS1aSll¢al furnishings and vestments, who have been in Faith House for over sixty years. sponsor and produce new publications relating to the Anglican Church and the Christian faiih, promo1¢ interesl in historic Faith Press publications and host occasional conferences, lectures and symposiums on aspeets of the Christian faith including Anglo-catholicism. eonserve an archive, including Faith Craft drawings and Faith Press publications and make these available to scholars for enquiry and research. administer the Hoare Trust. which grant-aids the conservation and provision of cc¢lesiaslical needlework. especially in needy parishes. administer ihc Liddon Fund. holding the annual Liddon Lectur¢. aw?rding granls to young scholars for advanced theological study, and for retreats. make occasional meeting space available in Faith House for other church and charitable organisations, especially for thosc with limited funds. make grants and donalions from the general ￿nd in accordan¢¢ with a donations policy. which includes 'Douglas grants, for scholarly rcsearch in a iheological context. The trnslees have paid du¢ regard to guidance issued by the Charity Commission in deciding what activities they should undertake for ihe public benefit. THE SOCIETY OF THE FAITH tNCORPO]L4TED istered Number 00214216 land & Wales slered with the Chari Commission number 232821 ort of ihe Court of Fellows Directors ear ended 31 March 2026 for the 2. Structure? governance and management A board of irnstees (known as the Court of Fellows), of up to 14 elected Mernbe￿, administers the charity. Meetings are nonnally held at least four times during the year and individual tNst¢es also play an active part in the day to day running of the charity. A Secrelary and Treasurer, elected by the member5 of the Society, manage Ihe day-to-day work of the ¢harity in accordance with the constitution and the INslees' policies and directions. Ai presenl. these roles are Combined and appropriate fees, deterniined by the Court, are paid. There are iwo advisory, non-execulive committees: the Activities and Publications Committee and the Finance and Building Committee. The trustees, who are also the directors for Ihe putpose of company law, and who served during the year were: Dr. Andrew Hobley The Rev. David Lawr¢n¢e-March Mr. Timothy Abraham The Rev. Dr. Charles Bell Professor Andrew Chandler William Chapman Esq. CVO The Ven. Dr. Geoffrey Dumbreck Professor the Rev. Canon Peter Galloway LVO OBE Mr. Peter Gaslon Dr. Brian Hanson CBE The Ven Dr. William Jacob The Rev. Siephen Tucker Mr. Martin Woods (Principal) (Vice Principal) (appointed l O Seplember 2025) Members of the Court acl in an honorary capacAIy. Secretary and treasurer.. Mrs. Margery Roberts The principal and Tegistered office of the Sociely is Faiih House, 7 Tufton Street, London. SWI P 3QB. THE SOCIETY OF THE FAITH tNCORPORATED istered Number 00214216 land & Wales istered with the Chari Commission number 232821 ort of the Court of Fellows Directors ear ended 31 March 2026 for the 2. Structure* governance and n￿n3£¢￿ent - continued Governing document The Society of the Faith is a company limited by guarantee by its Memorandum and ArtTcles of Associaiion dated 7 June 1926, amended l April 2018 and I I September 2025. It is registered as a charity with the Charity Commission. Appli¢aiions for membership of the Society of the Faith, in the fonn required by the Articles, are submitted to the Court of Fellows for approval. When an application is approved. Ihe applicant will be admitted to membership of the Society upon paymenl of the subscripiion. Appoitbtment of trustees The truslee body is designated the Court of Fellows. Tmstees and officers are elected by the members of the Society of the Faith ai Annual General Meeiings in x¢¢ordance with ihe proceedures sel out in the Articles. No person who is not already a member of the Society may stand for election as a trustee. Vacancies occuring in the Iruslee body between Annual General Meelings may be filled by the truslees in accordance with the Articles. There are Cu￿entlY 13 trustees. No trnstee has any beneficial interesi in the company. In ihe event of winding up, all members, including the trustees, guarantee to contribute a sum not exceeding £1 O each. 3. Investment powers and policy Under the Memorandum and Articles and relevant legislalion, the charity has ihe power to make any responsible investment which the Irustees see fit. The charity does not have any permanent endowment. 4. Public benefit The Iruslees confim ihal they have referred io the advice contained in ihe Charity Commission's guidance on public benefil when reviewing ihe charity's aims and objectives and in planning future activities. The Trustees consid¢r that the public benefits from the Socieiy from ihe following- the award ofgranls for education for both young pos(graduate Theology students and older scholars, religious aclivities and the restoration of church needlework where there is an identified need- the provision of educalion in the Christian faith, the Catholic Movement in ihe Church of England and church furnishings through publicalions, lectures and conferences. the provision of affordable accommodalion in a cenlral location, through leases, tenancies and meeting room provision, for a wide variety of church, chariiable and eomrnunity groups which themselves provide public benefit; making their archiv¢ available lo scholars and researchers. THE SOCIETY OF THE FAITH tNCORPORATED Re ist¢r¢d Number 00214216 land & Wales istered with the Charit Commission number 232821 rt of ihe Court of Fellows Directors ear ended 31 March 2026 for the 5. Achievements and performance The Court of Fellows met in June, September and December 2025 and February 2026. with the Annual General M¢¢ting laking place on l O September 2025. All meelings were held in the Douglas Room. Faith House. There was also frequent consuliatton by email. In June, the Court of Fellows fornially adopted the Nolan Principles over keeping high standards in public life. This served to underline the Court's long-estsblished aim to pursue best praciice in all iheir dealings. Thanks are due lo ihe Bishop of Oswestry. the Right Rev'd. Paul Thomas, for suggesting the adoption of ihe Principles to all Anglican Catholic organisations. At the AGM, a Special Resolulion to amend Articles I l and 37 in order io provide for consecutive t¢m15 of Court members, including the Principal and Vice-Principal. to be limiied to four, Ihe change to take effect at the 2026 AGM and not be retrospective was passed unanimously. There were the usual elections, in whtch the following wer¢ re-elecled to serve on the Court for three years.. Mr. William Chapman CVO, Dr. Brian Hanson CBE, the Rev'd. Stephen Tucker, and Mr. Martin Woods. Mrs. Margery Roberts was re-elecled to serve as Secretary and Treasurer for three years. As there remained vacancies on the Court. the trnstees subsequenily appointed the Rev'd. {now the Venerable) Dr. Geoffrey Dumbreck under Article 39. Grants and donations were made from the general fund, the Liddon Fund and the Hoare Furnishings Trust. A donation was made to Westminsler Abbey from the general fund. Douglas granls were awarded from the general ￿nd io four individuals to support their Theology studies. Three Liddon Fund grants were awarded to youn& postgraduate Theology students. Two grants were awarded from the Hoare Trusl towards Ihe cost of conserving fine textiles. In addition, a grant was made from ihe general fund io the College of ihe Resurrection, Mirfield towards the cost of a Holy Week projecl aimed at individuals considering ordination. The lrnslees also sponsored the production of a book on 'British Anglican Spiritual Writers,. In all of these activities, the trustees were mindful of iheir charitable objects, in particular the popularisation of ihe Catholic faith. The Liddon Lecture look place in ihe Douglas Room on 12 November 2025. The Right Rev'd.David Hamid, fonnerly Suffragan Bishop in Europe, spoke about the Council of Nicaea and its relevance for Churches loday. This attracled a large audience and was praised by all who heard the lecture, which was rilmed and made available on YouTube. Other aciivilies included an ongoing project lo bring reprcsentatives of Anglican CaiholiL organisations and gTh)ups logeiher for infonnal conversations aimed at fvrthering friendly and knowledgeable collaboralion. THE SOCIETY OF THE FAITH INCORPORATED islered Number 00214216 land & Wales istered with th¢ Charii Commission number 232821 rt of ihe Court of Fellow5 Directors ear ended 31 March 2026 for the 6. Risk mrdllagement The tNstees aim to maintain Faiih House structurally in good order, and io keep all possible risks to a minimum through regular reviews. They identify potential risks as affecting finance, govemance, and the slNcture, use and occupation of Faith House. The Iwstees aim to manage Faiih House both to raise income and as functional property to promole their own charitable objects. In order to limit finan¢ial risk, funds are invested in common investment fund5 managed by ihe Central Board of Finance (CBF), part of CCLA Investment Management. In February 2026, the CCLA was taken over by Jupiter Assei Management, although r¢tains a separate idenlity. The Faith House building is insured by the Eccl¢siasti¢al Insurance o￿lce, a well_estsblished provider of insurance for churches aT)d charities. Financial controls are finnly maintained and no single individual has financial or managerial Control. In addilion. the truslees encourage good relationships with the tenants, occupants and users of the building. The trnstees play aTJ active part in management. Recognising the importance of managing risk within Faith House, the Irustees maintain and keep updaled a health and safety file conlaining risk assessments and policies. Contracls are maRntained for the servicing of fire alarnls, fire extinguishers, emergency lighting, th¢ enlryphone system and the entral heating system. The Secretary is a Irained fire marshal and all tenants are aclively encouraged to keep their own procedures for emergency evacuation up to date. Fire drills are held al intervals. A risk register, togeiher wilh a schedule for r¢gular reviewing of all assessments and policies, ensures that potenlial risks are constantly kept under review by the irustees. Ther¢ is a conlinuous programme of repairs and maintenance, overseen by ihe Societys architccl. Small maintenance items are Larried out routinely whilst larger projects are pursued from lime lo time. The trustees record Iheir gratitude to their architect, Mr. Michael Poteliakhoff Dip. Arch. (PCL) RIBA, whose expense, knowledge of historic buildings and practical skills have supported the trustees over many years in their mission to care for Faith House and ils occupants and us¢rs as a landlord guided by the tenets of the Chrislian faith. The S￿letY depends for most of its income on the leases and tenancies in Faith House. These are kept under review and professional advice is obiained. The current tenants, consisling mainly of church charities and Watts and Company Lid, closely reflect the Society's own charitablc aims and objecls. The lrnstees consideT it to be essential for Faith House to be used and occupied in a way Ihal both promotes the specific objects of the Society of the Faith and its wider objeci of serving ihe Church ofEngland and ils Christian outreach, as it has done since 1935. THE SOCIETY OF THE FAITH INCORPORATED islered Number 00214216 land & Wales istered wilh the Chari Commission number 232821 rt of the Court of Fellows Directors ear ended 31 March 2026 for the 7. Reserves policy aDd total reserves The truslees maintain a reserves policy in line with guidance from the Charity Commis5i0n. Ai presenL the cosi of running and maintaining the building and meeting business rates (with charilable rating reliefj plus building insurance is around £70,000 per annum. not including improvement work or major repairs, and further funds are expended on governance, including ihe fees paid io ihe Secretaryrrreasurer. Although a proportion of Ihe running cosls is recoverable from tenants on a pro rala basis under the lenns of their leases, the trustees consider il sensible lo retain at least a ye&s costs available in reserve in order to meet routine commitments and the additional responsibility of maintaining and upgrading an historic lisled building {designed by Sir Edwin Lutyens) which has been associated wilh the Church of England lor 125 years. The charity, without any pern)anent endowment, relies on receiving income from invesied unrestricted funds as well as from rents. Bearing all ihese mallers in mind, the trnslees consider that around £125,000 should be kept easily accessible in ihe CBF Deposit Fund for the time being, both to cover immediate needs and other commitments and responsibilities for a year, provide for emergencies, including repairs. and to produce some income. The PT¢senl policy is to place all other u[W￿tricted funds in the CBF Invesiment Fund. The positlOD is kept under constant review and was last reviewed in February 2026. Funds held in the two restricled nds, Liddon and Hoare, are nol available for general use bul applied for the prescribed purposes of thos¢ funds. 8. Data protection The Iruslees comply with the provisions of ihe Data Protection Act 2018, which incorporates the General Data Prolection Regulation (known as the GDPR), which came into force in May 2018. They maintain a data proieeiion policy and policy stalement, with a separate privacy notice for the Liddon Fund which is available to Liddon applicants. All of the Society's a¢livties are on a not-for-profii ba81S. 9. ClimAte change The tNslees are conscious of their responsibility to make Faith House more energy-efficient and well insulated. The building, which is 125 years old and listed as beRn8 of historic and archilectural ivnportance, presenls many challenges. There are large windows and high ceilings. In 2022, the t￿sleeS began seriously to address these challenges, by inseriin8 extra insulaiion in parts of the roof spa¢e and by adding secondary glazing to ihose wlndows where Ihe heal loss was greaiest. In 2024, they replaced the eldcrly boiler and associated equipmenl with a much more efficient model. IHL,SaCILII- OF IIIE F.41TH IN.("I)RPnR.4-1"I:IJ %l- p4Iicio* at)d ih.'n 4)pli il,.ei)l Lofi li>r Ihe year endcd 11.51 Mi?rcli 102(1. The nivmhcrs hrLI'L niit rLNL2irixl IliL ¢ompan}' lii ithixin 4n tludit i)r 11£ fin4nLial ¥I￿¢MentI ILFr tliL' vear widcd I151 M:IrLh ?n!h jii *'ixirdanLLI M'lth 476 (?f th¢ I'tMnP4inity AL1 21KIh. TIK. (-Diirt (If FLlliiw4 acknom'lcdge its reswJnsil)ililiv li?r'. LmKiirln￿ Ihul IhL' I11171p￿•> ki¥p4 LlLY(iunli￿l rco)r¢L% whiih Ll)mpli M'ith SLxlitin%.180 atMI Iy? i)fihL ciiinpaft1L￿ Aci *Iiofi. and, cpariilb IiThlllLial 41alcmL￿l￿ ii,IIiLh ¥i%'e 4 tTue and fdir i'icw ol. thy Si&lL i)f allair¥ ill iliL LM¥7￿￿1117¥ 118 ai ih¥ iThl lil. L&ILlI ftnDncial yeor aiid lif ils pnifil iir liiss flir L'ach fJiiJiicial y¢Jr in cwrilHJIL¥ iiiih tl)l T¢qiiItt'nK￿ts of SeL4ii1115 l94 •nd 105 ii'hicli Iithern'iqL" L<)mpl¥' *'itli the re4vir(yiien15 ibf Ihe Ciirnponies Aet ?rKIfi relaling lil finthncial SlUl¥niLiils. xi for lls aN7liL#blL t(1 ihc LI)IIIPillll. Thi*¢ fit)aniial %1alemL￿Ig hai'L ￿L￿ pr9)dr￿ in ULWrda￿r w'iih thL SPLLial PThbl'i¥ion$ lif Put1 15 nf1liL. CiimpJiiie% Ali •IKkn rel Jijii¥ liTr.¥mall compJni¢s H]14 M'illi IhL Finan¥itsl R¢portinu SI￿￿1￿rd ThL finJiic1￿l slJlcnicnl% NLri Jppftii'cd b). the Coun (if fLlliiii'¥ im l) Junii 111?() yiid ii'cYL l*lWIL nji 114 l¥elidll'hv'. Dr. .4iiJrcii. H(IhliV II'riiiLipJII MargLr¥ Rc)hL'n% {I'reiis1￿tri THE SOCIETY OF THE FAITH CORPOIL4TED istered Number 00214216 land & Wale5 istered wilh the Chari Commission number 232821 NOTES RELATING TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2026 Accounting Polieies ChaJ4ty information The Society of the Faith (IT]cnrporaled) is a privale company limited by guarantee Inco￿Orated in England and Wales. The regislered 0￿2CC address is Faith House, 7 Tufton Street, London, SWI P 3QB. The nature of the charity's operations and principal activilies are to bring losether Christians in communion with the See of Canierbury for mutual assistance in the work of the Christian church and to support and further charitable undertakings, particularly those which popularise the Catholic faith. 1.] A¢couDtiDg convention These accounts have been prepared in ac¢ordan¢e with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Ac¢oun(ing and Reporting by Charities" the Sialemenl of Recommended Practice for charities applying FRS 102, the Companies Act 2006 aT]d UK Gcnerally Accepied Accounting Policics as it applies from I January 2019. The Society is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sierlins. which is the functional currency of the charity. Monetary amounts in these fin￿¢1#1 statements are rounded to the nearest £. The accounts have been prepared under the historical cost conveniion, and io include certain rinancial instruments at fair value. The principle accounting policies adopted are set out below. The trust¢e5 confinn ihat they have referred to the guidance coniained in the Charity C.ommission's guidance on publlc benefit when Teviewing the charity's aims and objectives and in planning ￿tUre aclivities. Assets and liabililies are initally recognised at historic cosl or transa¢iion value unless othenyise stated in ihe relevant accounting policy note. J.2 Coing concern At il)e time of approving the accounts, the trustees have a reasonable ¢xpe¢lation that the charity has adequate resources lo continue in operational existance for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis of accounting in preparing the accounts. -15- THE SOCIETY OF THE FAITH INCORPORATED istered Number l)0214216 land & Wales istered with the Chari Commission number 232821 NOTES RELATING TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2026 l. Ae¢ounting Polleie$- continued 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the lThstees in furtherance of their haritable objectives uTJless the funds have been designated for other purposes. Restri¢led funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the accounts. 1.4 Incoming resources A) Rental of Faith House Income from renthl is included in the period in which the charity is entitled to the r￿elp1. b) Donations Income from donalions is included in incoming reSou￿¢S when these are receivable, except as follows.. When donors speeify thai donations given to the charity musi be used in future accouniing periods, the income is deferred until those periods. When donors impose conditions which have lo be fulfilled before the charity becomes entitled to use such income, the income is deferred and nol included in incoming resources until the pre- conditions for use have been met. When donors specify that donations are for particular restricted purposes, which do not amount to pre-conditions regyarding entitlemenl, this income is included in incoming resources of restricted funds when receivable. ) Investhienl Income Rent, interest and dividends are included when receivable by the charity- 1.5 Resources expended Resources ¢xpendcd are in¢lud¢d in the Statement of Financial Aclivilies on an accruals basis, inclusive of any V AT which cannot be recovered. Certain expenditure is dir¢cily attributable to specific activities and has been included in those cost categories. .6 Fund iceounling Funds held by the charity are eiiher.. Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the dis¢re(ion of the Iwstees. 16- THE SOCIETY OF THE FAITH INCORPORATED istered Number 00214216 land & Wales stered with the Charit Commission number 232821 NOTES RELATtNG TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026 l. Accounting Policies - eontinued 1.6 Fund accounting- continued R¢stri¢t¢d funds - these are funds that can only be used for particular restricted purw)s¢s within the objects of the charity. Reslriclions aris¢ when specified by the donor or when funds are raised for particular restricted purposes. 1.7 Tangible fixed assets Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives on a basis as follows: Long leasehold buildings - 00/0 Any other fixed assets are written off in the year of PUTchase. 1.8 Investments Listed investments held as fixed assets are revalued annually by CCLA Investment Management Limited al the market value, and the gain or loss on revaluation taken to the Statern¢nl of Financial Activili¢s. 1.9 Repairs and renewals All expenditure on the Faith House building is written off in the year as repairs and maintenance. 1.10 Governance Costs Govemance costs comprise all costs involving the public accounlability of the charity and its compliance with regulations and good practice. This cost is now showing on the Stalement of Financial Activities within Other Charitable activites. 1.11 Cash and Cash equivalents Cash and cash equivalents include cash in hand. deposits held at Call with banks, other short-term liquid investments with original maturities of thre¢ months or less, and bank ov¢rdrafts. Bank overdrafts are shown within borrowings in current liabilities. a) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, ar¢ initially measured al iransaction pri¢¢ including transaction c05t5 and are subsequently caffied at amortised cost using the effective interest method unless the arrangement conslilutes a financial transaction, where the transaction is measured at the present value of the fijture receipts discount¢d at a markd rate of interest. Financial assets classified as receivabl¢ wiihin one year are not amortiS￿. THE SOCIETY OF THE FAITH INCORPORATED isl¢r¢d Number 00214216 land & Wales istered with Ihe Charit Commission number 232821 Re NOTES RELATING TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026 l. Aeeountlng Policies - eontinued 1.1 I Cash and cash equivalents - contlnued b) Basic financial liabilities Basic flnancial libililies, including creditors and bank loans are initially recO￿ls¢d at transaction price unless the a￿angement constitutes a financing transaction, where the debt instrument is measura at the present value of the future receipts discounted at a market rate of inter¢st. Financial liabiliti¢s Classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate meihod. Trade creditors are obligations to pay for goods or services ihat have been aquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are pr¢sented as non-cu￿cnt liabilities. Trade ¢rcdilors are reCO￿lSed inilially al transaction price and subsequently measured at amortised ¢osl using the effective interest method. c) Derecognition of financial liabilities Financial liabilities are dere¢ognised when the charilvs contractual obligations expire or are discharged or cancelled. 2. Crltical accounting estimates ydnd Judgements In the application of the charitys accounting policies, the trustees are required to make judgements, estimates and assumptions about the canying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other faclors that are considered relevant. Actual results may differ from these eslimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are reco￿]Sed in the peTiod in which the estimate is revised where th¢ revision affects only ihal period, or in th¢ period of the revision and fiiture periods where the revisions affects both current and future periods. 18- THE SOCIETY OF THE FAITH INCORPORATED istered Number 00214216 land & Wales Isiered with the Chari Conunission number 2 282 NOTES RELATfNG TO THE FINANCIAL STATEMENTS R THE YEAR ENDED 31 ST 202 3. Legal status of the eharlty The charity is a company limited by guaraniee and has no share capital. Every member und¢rtakes to contribute to the assets of the charity, in the event of the same being wound up during the lime ihai he is a member, or within one year afterwards, for payment of the debts and liabililies of ihe charity contracted before the time at which he ceases to be a member, and of the costs. charges and expenses of windin8 up ihe same. and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding £10. 4. Going ¢on¢ern The accounts have been prepared on a going concern basis. the trust￿5 are not aware of any exI￿an¢e of any material uncertainties. .19. THES CIETY OF TH TH CORP TED istered N mber 0021421 land & Wales the Chari ommission number 232821 1st NOTES RELATING T INANCIAL TA TEMENTS Continued FOR THE YEAR ENDE T MARCH 2026 2026 2025 5. IDeomlLg resoMr¢es R￿￿ar es lo Tenant Service charge House 42.284 36,064 from Publications ations Donations received Gift aid Subscriptions 134 116 260 505 878 530 533 vestment Income estricied Funds Bank Interest Invesiment income Rental of Faith House Use of Douglas Room 5.421 49,052 95.280 1,250 151,003 6,203 46.038 101,017 1,430 154,688 Restrict Funds Bank intere￿. Hoare Trusi Liddon Fund Invesimeni income. Hoare Tnist Liddon Fund 109 334 112 319 486 5,911 6,840 472 5.739 6.642 O. FAltb House expenditure Gen¢ral rdt¢s Water, electrtcity and gas Insurance Repair5 and buildin8 maint¢nance Cleaning and washroom costs Deed of variation renl 24,033 4,714 7,326 4,909 19,891 5,850 06,725 23.659 5,341 7,131 48,850 20,183 4,376 109,540 -20- THE SOCIETY OF THE FAITH INCORPORATED istered Number 00214216 land & Wales islered with the Chari Commission number 232821 NOTES RELATING TO THE FINANCIAL STATEMENTS Conlinued FOR THE YEAR ENDED 31 ST MARCH 2026 2026 2025 7. Grants Payable Unrestricted Funds Publication Sponsorship Speuial grants: St. Bartholomew the Great, London College of the Resurrection, Mirfield Educational grdnt Douglas grants: Theological research 5,000 ,500 2.000 .000 500 5,100 13.600 5,000 6,500 Restsicted Funds Educational Grants- Liddon Fund Needlewo￿ Grants - Hoare Trust 7,675 300 7.975 2,500 250 2,750 In December 2025, the Society approved a Hoare Trust 8ranl of £2,IXJO lo the parish of St. Michael and All Angels, tAn¢ing, towards the restoration of a banner. Pairynenl of the grant is subject io the parish raising tK¢ remaining funds needed to complele the restoration. 8. Other Charitable Aetlvltles Unrestricted Funds Donation to Dean and Chapter of Westrninsler Abbey Restricted Funds L£¢ture Expenses - Liddon Fund Governance Costs - Unrestricted Funds Travelling General Se¢relarial expenses Legal & professional fees Secrethry and Treasurer's Honordrium Accountancy Fees BaTrk Charges 300 300 602 1.572 3,252 1,624 5,348 14,000 3,360 153 27,737 3,176 1.018 9,449 14,000 2,760 175 30,578 Governance ¢osls - Restricted Funds Se¢r¢tary and Treasurer's Honorarium - Liddon Fund 700 700 Unrestricted Fund totals 28,037 30,878 Restricted Fund totsls 1,302 2,272 -21- THE SOCIETY OF THE FAIT tNCORPO TED istered Number 00214216 E land & Wal stered with the Chari Commission nu 32821 NOTES RELATING TO FOR THE ANc￿L TATEMENTS Continued R ENDED 31 ST MARCH 026 2026 202 9. R¢gllsed and unr¢allsed Investment (lo$$es) I galns Unres (L0s5} / Gain on revaluation of investment (129,523) 129,523 174,595) 74,595 Restricied Funds (Loss) / Gain on revaluation of inveslment Hoare Trusl Liddon Fund (1.256) 15,273 16,529 {751) (9,125 (9,876 10. Net (expendityre)lincome for the year The (deficil)/surplus on ordinary activities is slated after crediting the following. Operatin8 Lease- Faith House 138.814 138,511 11. Taxatlon The Society of the Faith (Inco4)ornted) is a registered charity, and as such is exempted from taxation. -22- THE SOCIETY OF THE FAITH INCORPORATED istered Number 00214 d & Wales Commission number 2 st 21 NOTES RELATING TO THE FtNANCIAL STATEMENTS Continued R THE YEAR ENDED 31 ST MARCH 2 26 l2. Tingible fixed assets Long Leasehold Land and Buildings Total Cost as at l April 2025 and at 31 March 2026 35,0 35,000 Depr¢ciation as at l April 2025 and at 31 March 2026 Net book value As at 31 March 2025 and at 31 March 2026 35,000 35,000 13. Investment$ Cost at 31.03.25 Additions Cost at GTOSS 31.03.26 Income Market Value at 31.03.26 Market Value at 31.03.25 Unrestricted Funds C.B.F Investmenl Fund 73041.86 sharcs 1,020,291 70,IXM) 1.090.291 49,052 1,590,595 1,650,118 e5tricted Funds Hoare Trust C.B.F Investment Fund 748.53 shares 6,494 6.494 486 15.413 16,668 Llddon Fund C.B.F Investment Fund 9105.17 shares 91,410 91,410 5.911 187,483 202,756 1,118,195 70.000 1.188.195 55,449 1.793,491 1,869,542 Under the Statement of Recommended Practice all investmenls have to be valued at their market value at the year end. -23- THE SOCIETY E FAITH INCORPORATED islered Number 00214216 land & Wales stered with the Chari Commission number 232 NOTES RELATING TO THE FINANCIAL STA EMENTS C nt FOR THE YEAR ENDED 31 T MARCH 202 2026 2025 14. Cash at Bank nrestricted Funds Current Account C.B.F. Deposit Account 127,693 131,575 259.268 68,696 138,125 206,821 Hoare Trust Liddon Fund 2.997 4.083 7,080 2,402 6.815 9,217 266,348 216,038 13. Debtors Unrestricted Fun Prepaym¢nts and accrued in¢om¢ Other debtors 2,429 6,936 2.429 6,936 16. Creditor5 Amounts falling due within one year Unrestricied Fun Grants payable Other creditors 4.000 41,410 45.410 4,000 8,761 12.761 17. Related party transactions There were no contracts of significance, subsisting during or at the end of ihe year in which member of th¢ Court of Fellows is or was materially interested, ex¢q)i as stated below. Travelling expenses amountin¥ to £2,365 (2025 . £2.202) were reimbuTsed to 7 (2025.. 8) Trust¢es. -24- THE SOCIETY OF THE FAITH INCORPORATED ist¢red Number 00214216 land & Wales islercd with the Charit Commission number 232821 NOTES RELATING TO THE FINANCL4L STATEMENTS Continued FOR THE YEAR ENDED 31 ST MARCH 2026 18. Analysis of charitV4ble fullds Analysis of movements in fvnds Funds Investment 31 March Expenditure gainl{loss) 2026 Balance l April 2025 Income Unrestricted fvnd ,886,814 193,954 108,362 (129,523) 1.842,883 Hoare fund 19,070 595 300 (1,256) 18,109 Liddon Fund 208,871 6,245 8,977 (15,273) 190,866 227,941 6,840 9,277 (16,529 208,975 Analysis of movemenls in funds Funds Investmcnt 31 March Expenditure gainl(lossl 2025 Balance l April 2024 Income Unrestricted fund 1,916,581 191,746 146,918 (74,595) 1,886,814 Hoare fund 19.487 584 250 (751) 19,070 Liddon Fund 216.710 6,058 4,772 (9,125) 208.871 236.197 6,fv12 5,022 (9,876) 227,941 Th¢ unrcstrictcd fund is held for the objectives of the charity. Funds held in ihe two restricted funds are noi available for gcncral use. The funds use are a5 follows. Hoare Trust, which grant-aids ihc conscrvation and provision ofe¢clcsiastical needlework,. Liddon Fund, holding the annual Liddon Lcciure and awarding grdnts lo young scholars for advanced Iheological study, and for retreats. The unrestricted fvnd has been reinslated lo reflect the presentalion of tangible fjxed assets to comply wilh SORP and FRS 102. The value o( lh¢ prop¢rty known as 'Faith House, is now includcd as a tangible fixed asset of £35,fAK) (2025 £35,000), The rcquircmcnl of obiaining an annual valuation has made it cost prohibitive to record the ass¢1 as an investmcnt at fair value. -25- TH SOCIETY FAITH umber 00 e Charti 4216 & Wales istered w ommission n 821 ACCO DSHE TRUST HOA TRUST INCOME D EXPEN IT ACCO RTHEYE ED31ST CH 02 202 20 Investsnent Income Bank Int¢r¢st Gain on revaluaiion of investhient assets 486 109 472 112 595 584 EXPENDITURE Charitable Exp¢nditLwe Graols Payable 3(X) 250 Loss on revaluation of investhient assets .256 751 (Deficit) I Surplus for Y¢ar (961 417 CH2 ED ASSETS Invesiments 13 15,413 16,668 Cash at Bank cu T LL4BILITIE Unrestrict¢d fund 14 2.996 2.402 (300) NE cu ASSETS 18,109 EN Accumulated Furtd Brought Fonvard (D¢ficitl / Surplus for Year 18 18 19.070 (901) 18.109 19.487 417 19.070 -2& THE SO IET F THE FAI ORATED stered N islered with the C 14216 & Wales ber 232821 Commissi OF FifN IN TRUST ON FiTND E AND EXP NDITURE A RTHE AR ENDED CH 2026 202 OME Inv¢stment Income Bank Int¢r¢st Gain on revaluation of Rnvestment assets 5,911 334 5.739 319 6245 6.058 EXPENDITURE Charitable Expenditure Gr¥ols Payable Other Charitable Activities Loss on revaluation of investment assets 7.675 .302 2.5(K> 2.272 15.273 24.250 9,125 13,897 (Deficit) I Surplus for Y¢aT 18.005 7,839 AT31ST 026 Ix Investments 13 187.483 202.756 Cash at Bank LIABILITIES Unrestricted fund 14 4,083 6.815 (700> (7(K)) SSETS 208,871 Accumulated Fund Brought Fonvard (Deficit) / Surplus for Year 18 18 208,871 {18.005 190,866 216,710 (7.8391 208.871 -27-