## 

## 



























## 

## 












## 

## 





## 

## 

## 


## 





## 

## 


## 

## 

|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**<br>**FOR THE YEAR ENDED31DECEMBER**|**PENDIT**<br>**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|<br>£|£|£|£|
|||----||||
|**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|








## 


## 

|<br>£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|




|<br>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|



## 

||<br>**£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|



|<br>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)|



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