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2023-12-31-accounts

Continental Pioneer Committee £130,244
Various LSA funds £1,042,997
DrKhosrow Taheri £115,705
International collaboration fund £63,707
Baha'i InternationalFund £435,368
Huququ'llah £10,494
Payam-i-Bahai £20,652
George Ronald publishing £32,920
Other funds £74,080

(INCORPORATINGANINCOME AND EX
FOR THE YEAR ENDED31DECEMBER
PENDIT
2023
URE ACCOUN T)
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,719,441 3,893,249 6,612,690 6,860,791
Charitable activities 5
Guardian's Resting Place 40,449 40,449 19,927
Schools 73,582 73,582
Plot fees 72,073 72,073 42,186
Persian Arts & Letters 39,565 39,565
Other trading activities 3 23,403 23,403 20,493
Investment income 4 112,478 7,372 119,850 86,984
Total 3,040,542 3,941,070 6,981,612 7,030,381
EXPENDITUREON
Raising funds 6 46,724 46,724 27,829
Charitable activities 7
International funds 1,100,766 3,268,296 4,369,062 4,218,349
Guardian's Resting Place 189,288 189,288 160,159
Conferences 58,844 58,844 473,601
Schools 76,752 187,980 264,732 216,067
Regional activities - teaching and training 386,934 60 386,994 510,287
Community development 44,486 44,486 40,626
Organisation of community activities 655,613 10,497 666,110 601,259
External affairs 157,825 157,825 95,004
Property costs 444,395 41,765 486,160 608,139
Depreciation 133,156 14,049 147,205 147,205
Auditors remuneration 18,275 18,275 15,610
Local Spiritual Assemblies 215,191 215,191 193,762
Persian Arts & Letters 34,924 34,924
Total 3,158,694 3,927,126 7,085,820 7,307,897
Net gains/(losses)oninvestments 680,855 680,855 (1,257,124)
NET INCOME/(EXPENDITURE) 562,703 13,944 576,647 (1,534,640)
Transfers between funds 20 (38,177) 38,177
Net movementinfunds 524,526 52,121 576,647 (1,534,640)
RECONCILIATIONOFFUNDS
Total funds brought forward 8,764,842 3,461,373 12,226,215 13,760,852

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes
£
£ £ £
----
TOTAL FUNDS CARRIED FORWARD 9,289,368 3,513,494 12,802,862 12,226,212

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 13 4,520,431 600,901 5,121,332 4,992,091
Investments
Investments 14 6,004,647 2,127,664 8,132,311 4,886,853
Investment property 15 328,943 116,057 445,000 2,671,151
10,854,021 2,844,622 13,698,643 12,550,095
CURRENT ASSETS
Stocks 16 67,137 67,137 62,801
Debtors 17 208,695 208,695 149,142
Cash at bank andinhand 1,677,932 676,613 2,354,545 2,371,443
1,953,764 676,613 2,630,377 2,583,386
CREDITORS
Amounts falling due within one year 18 (3,518,417) (7,741) (3,526,158) (2,907,269)
NET CURRENT ASSETS (1,564,653) 668,872 (895,781) (323,883)
TOTAL ASSETS LESS CURRENT
LIABILITIES 9,289,368 3,513,494 12,802,862 12,226,212
NET ASSETS 9,289,368 3,513,494 12,802,862 12,226,212
FUNDS 20
Unrestricted funds 9,289,368 8,764,839
Restricted funds 3,513,494 3,461,373
TOTAL FUNDS 12,802,862 12,226,212

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (618,428) 90,885
Net cash (used in)/providedbyoperating activities (618,428) 90,885
Cash flows from investing activities
Purchase of tangible fixed assets (549,235)
Purchase of fixed asset investments (2,564,602) (16,052)
Acquisition of investment property (275,000)
Sale of fixed asset investments/property 2,226,153 1,346
Interest received 84,246 873
Dividends received 324 3,118
Net cash usedininvesting activities (803,114) (285,715)
Changeincash and cash equivalents
inthe reporting period (1,421,542) (194,830)
Cash and cash equivalents at the
beginning of the reporting period 2 2,371,443 2,566,273
Cash and cash equivalents at the end
of the reporting period 2 949,901 2,371,443

2023 2022
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 576,647 (1,534,640)
Adjustments for:
Depreciationcharges 147,205 147,205
(Gain)/lossesoninvestments (680,855) 1,257,124
Interest received (84,246) (873)
Dividends received (324) (3,118)
Impairment 272,789
Increaseinstocks (4,336) (12,625)
(lncrease)/decreaseindebtors (59,553) 689,783
Decreaseincreditors (785,755) (451,971)
Net cash (used in)/providedbyoperations (618,428) 90,885
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 2022
£ £
Cashinhand 2,489 187
Notice deposits (less than 3 months) 2,352,056 2,371,256
Overdrafts includedinbank loans and overdrafts falling due within one
year {1,404,644)
Total cash and cash equivalents 949,901 2,371,443
ANALYSIS OF CHANGESINNET FUND S
At 1/1/23 Cash flow At 31/12/23
£ £ £
Net cash
Cash at bank andinhand 2,371,443 (16,898) 2,354,545
Bank overdrafts {1,404,644) (1,404,644)
2,371,443 {1,421,542) 949,901
Total 2,371,443 (1,421,542) 949,901

2. DONATIONS AND LEGACIES
2023 2022
£ £
Donations 5,535,203 5,741,304
Giftaid 743,658 735,128
Legacies 333,829 384,359
6,612,690 6,860,791
3. OTHER TRADINGACTIVITIES
2023 2022
£ £
Salesfrom publishing division 23,403 20,493

4. INVESTMENT INCOME
2023 2022
£ £
Rents received 35,280 82,993
Dividends received 324 3,118
Deposit account interest 84,246 873
119,850 86,984
5. INCOME FROM CHARITABLE ACTIVITIES
2023 2022
Activity £ £
Guardian's Resting Place Guardian's RestingPlace 28,449 19,927
Plot fees Guardian's RestingPlace 12,000
Schools Schools 73,582
Plot fees Plot fees 72,073 42,186
Baha'i Society Persian
Arts & Letters Income Persian Arts & Letters 39,565
225,669 62,113
6. RAISING FUNDS
Other trading activities
2023 2022
£ £
Purchases of literature for resale 46,724 27,829
CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note8) Totals
£ £ £
International funds 4,369,062 4,369,062
Guardian's Resting Place 189,288 189,288
Conferences 58,844 58,844
Schools 264,732 264,732
Regional activities - teachingand
training 386,994 386,994
Community development 44,486 44,486
Organisation of community activities 15,962 650,148 666,110
External affairs 157,825 157,825
Property costs 486,160 486,160
Depreciation 147,205 147,205
Auditors remuneration 18,275 18,275
Local Spiritual Assemblies 215,191 215,191
Persian Arts & Letters 34,924 34,924
6,370,673 668,423 7,039,096

SUPPORT COSTS
Governance
Management Finance costs Totals
£ £ £ £
Organisation of community activities 458,487 188,454 3,207 650,148
Auditors remuneration 18,275 18,275
458,487 188,454 21,482 668,423

2023 2022
£ £
Auditors' remuneration 18,275 15,610
Depreciation - owned assets 147,205 147,205

STAFF COSTS
2023 2022
£ £
Wages and salaries 1,232,477 1,142,333
Social security costs 110,612 95,882
Other pension costs 90,570 81,705
1,433,659 1,319,920
2023 2022
Employed staff 47 54


£60,000 was:
2023 2022
£90,001- £100,000 1
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,695,895 4,164,896 6,860,791
Charitable activities
Guardian's Resting Place 19,927 19,927
Plot fees 42,186 42,186
Other trading activities 20,493 20,493
Investment income 85,905 1,079 86,984
Total 2,844,479 4,185,902 7,030,381
EXPENDITUREON
Raising funds 27,829 27,829
Charitable activities
International funds 978,815 3,239,534 4,218,349
Guardian's Resting Place 160,159 160,159
Conferences 473,601 473,601
Schools 216,067 216,067
Regional activities - teaching and training 510,227 60 510,287
Community development 40,626 40,626
Organisation of community activities 620,908 (19,649) 601,259
External affairs 95,004 95,004
Property costs 576,681 31,458 608,139
Depreciation 133,156 14,049 147,205
Auditors remuneration 15,610 15,610
Local Spiritual Assemblies 193,762 193,762
Total 3,472,457 3,835,440 7,307,897
Net gains/(losses)oninvestments (1,252,278) (4,846) (1,257,124)
NET INCOME/(EXPENDITURE) (1,880,256) 345,616 (1,534,640)
Transfers between funds (30,114) 30,114
Net movementinfunds (1,910,370) 375,730 (1,534,640)

FOR THE YEAR ENDED31DECEMBER 2023 THE YEAR ENDED31DECEMBER 2023 THE YEAR ENDED31DECEMBER 2023
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
RECONCILIATIONOFFUNDS
Total funds brought forward 10,675,209 3,085,643 13,760,852
TOTAL FUNDS CARRIED FORWARD 8,764,839 3,461,373 12,226,212
13. TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2023 7,404,267
Additions 549,235
Impairments (300,262)
At31December 2023 7,653,240
DEPRECIATION
At 1 January 2023 2,412,176
Charge for year 147,205
Impairments (27,473)
At31December 2023 2,531,908
NET BOOK VALUE
At31December 2023 5,121,332
At31December 2022 4,992,091

follows:
NBVon NBV based
historical onrevalued
Cost Depreciation cost basis amounts
£ £ £ £
Rutland Gate, London 735,744 544,452 191,292 2,016,000
3 LangdaleRoad, Liverpool 36,952 20,613 16,339 77,500
Willow Island (land) 500 500 8,000

13. TANGIBLE FIXED ASSETS - continued
Wideford Hill, StOla, Orkney Isles
(land) 500 500 36,000
773,696 565,065 208,631 2,137,500

FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£ £ £
MARKET VALUE
At 1 January 2023 4,789,813 97,040 4,886,853
Additions 2,564,602 2,564,602
Revaluations 673,596 7,260 680,856
At31December 2023 8,028,011 104,300 8,132,311
NET BOOK VALUE
At31December 2023 8,028,011 104,300 8,132,311
At31December 2022 4,789,813 97,040 4,886,853


£56,542.
15. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 January 2023 2,671,151
Disposals (2,226,151)
At31December 2023 445,000
NET BOOK VALUE
At31December 2023 445,000
At31December 2022 2,671,151

15. INVESTMENT PROPERTY -continued
Fair value at31December 2023isrepresentedby:
£
Cost 445,000
16. STOCKS
2023 2022
£ £
Stocks 67,137 62,801
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 28,920 30,920
VAT 209
Prepaymentsandaccrued income 179,566 118,222
208,695 149,142
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 19) 1,404,644
Trade creditors 87,706 155,252
Social securityandother taxes 51,794 (223)
VAT 658
Other creditors 32,193 82,288
Funds held for others 1,926,168 2,607,113
Accruals and deferred income 23,653 62,181
3,526,158 2,907,269

placeinthe next financial year.
£
Balance as at31December 2022 18,636
Amount released to incoming resources (18,636)
Amount deferredinyear 5,468
Balanceasat31December 2023 5,468

Ananalysisofthe maturity of loansisgiven below:
2023 2022
£ £
Amounts falling due within one yearondemand:
Bank overdrafts 1,404,644

MOVEMENTINFUNDS
Net Transfers
movement between At
At 1/1/23 in funds funds 31/12/23
£ £ £ £
Unrestricted funds
General fund 244,643 232,649 (344,309) 132,983
Social Action Fund 6,013 395 6,408
Property maintenance fund 308,356 29,393 337,749
General reserve 900,751 900,751
Capital projects 6,300 6,615 (6,300) 6,615
Growth fund 2,252,615 486,945 (99,566) 2,639,994
Guardian's Resting Place 198,506 186,443 4,105 389,054
UK Temple Fund - Designated Fund 552,912 205,709 (35,609) 723,012
Faroes Centre Fund 109,510 109,510
Funds representing properties held 4,185,236 (585,446) 443,502 4,043,292
8,764,842 562,703 (38,177) 9,289,368
Restricted funds
Deputisation 56,623 101,071 157,694
UK Temple Fund 1,543,923 29,847 1,573,770
Guardian's Resting place 963,335 (52,389) 910,946
Paul Malcolm Booth Fund 6,494 340 (1,203) 5,631
Baha'i InstituteofHigher Education (1,000) (1,000)
Faroes Centre Fund 269,794 (10,425) 259,369
ResidentialCentre reserve 233,913 (4,976) 228,937
Department of Health 6,255 (72) 6,183
Royal York Crescent Apartment 381,036 (48,452) 39,380 371,964
3,461 ,373 13,944 38,177 3,513,494
TOTAL FUNDS 12,226,215 576,647 12,802,862

Incoming Resources Gains and Movement
resources expended losses infunds
£ £ £ £
Unrestricted funds
General fund 2,652,590 (2,563,501) 143,560 232,649
Social Action Fund 395 395
Property maintenance fund 29,393 29,393
Capital projects 6,615 6,615
Growth fund 298,000 188,945 486,945
Guardian's RestingPlace 75,694 110,749 186,443
UK TempleFund - Designated Fund 5,835 199,874 205,709
Funds representingproperties held 1,413 (595,193) 8,334 (585,446)
3,040,542 (3,158,694) 680,855 562,703
Restricted funds
Deputisation 101,071 101,071
UK Temple Fund 29,847 29,847
Guardian's Resting place 136,899 (189,288) (52,389)
Paul Malcolm Booth Fund 340 340
Baha'i InstituteofHigher Education 186,980 (187,980) (1,000)
International Funds 3,268,296 (3,268,296)
Faroes Centre Fund (10,425) (10,425)
ResidentialCentre reserve 1 (4,977) (4,976)
Derby Mulifaith Project 60 (60)
DepartmentofHealth (72) (72)
Local Spiritual Assemblies 215,191 (215,191)
Royal York Crescent Apartment 2,385 (50,837) (48,452)
3,941,070 (3,927,126) 13,944
TOTAL FUNDS 6,981,612 (7,085,820) 680,855 576,647

Comparatives for movementinfunds
Net Transfers
movement between At
At 1/1/22 in funds funds 31/12/22
£ £ £ £
Unrestricted funds
General fund 790,033 (1,198,772) 653,379 244,640
Social Action Fund 5,832 181 6,013
Property maintenance fund 350,000 (81,257) 39,613 308,356
General reserve 900,000 (87,841) 88,592 900,751
Capital projects 21,911 (15,611) 6,300
Growth fund 3,175,445 67,172 (990,002) 2,252,615
Guardian's Resting Place 340,382 (141,876) 198,506
UK Temple Fund - Designated Fund 715,186 (162,274) 552,912
Farces Centre Fund 109,510 109,510
Funds representing properties held 4,288,821 (297,500) 193,915 4,185,236
10,675,209 (1,880,256) (30,114) 8,764,839
Restricted funds
Deputisation 5,409 51,214 56,623
UK Temple Fund 993,189 550,734 1,543,923
Guardian's Resting place 1,103,567 (140,232) 963,335
Paul Malcolm Booth Fund 6,274 220 6,494
Baha'i InstituteofHigher Education 38 (38)
International Funds 91,770 (91,770)
Farces Centre Fund 250,100 19,694 269,794
Residential Centre reserve 238,890 (4,977) 233,913
Department of Health 6,298 (43) 6,255
Royal York Crescent Apartment 390,108 (39,186) 30,114 381,036
3,085,643 345,616 30,114 3,461 ,373
TOTAL FUNDS 13,760,852 (1,534,640) 12,226,212

Incoming Resources Gains and Movement
resources expended losses infunds
£ £ £ £
Unrestricted funds
General fund 2,369,230 (3,070,445) (497,557) (1,198,772)
Social Action Fund 181 181
Property maintenance fund 1,084 (41,936) (40,405) (81,257)
General reserve 2,786 (90,627) (87,841)
Capital projects 21,911 21,911
Growth fund 375,673 (20,675) (287,826) 67,172
Guardian's Resting Place 7,355 (149,231) (141,876)
UK Temple Fund - Designated Fund 14,311 (176,585) (162,274)
Funds representing properties held 51,948 (339,401) (10,047) (297,500)
2,844,479 (3,472,457) (1,252,278) (1,880,256)
Restricted funds
Deputisation 51,214 51,214
UK Temple Fund 550,734 550,734
Guardian's Resting place 19,927 (160,159) (140,232)
Paul Malcolm Booth Fund 220 220
Baha'i Institute of Higher Education 216,029 (216,067) (38)
International Funds 3,152,610 (3,239,534) (4,846) (91,770)
Faroes Centre Fund 1 19,693 19,694
Residential Centre reserve (4,977) (4,977)
Derby Mulifaith Project 60 (60)
DepartmentofHealth 1 (44) (43)
Local Spiritual Assemblies 193,762 (193,762)
Royal York Crescent Apartment 1,344 (40,530) (39,186)
4,185,902 (3,835,440) (4,846) 345,616
TOTAL FUNDS 7,030,381 (7,307,897) (1,257,124) (1,534,640)

2023 2021
£ £
Within one year 4,414
Betweenonand five years
Inmore than five years
4 414