2025-03-31-accounts

REGISTERED COMPANY NUMBER: 00355737 IEngland and Wales} REGISTERED CHARITY NUMBER.. 250851 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025 FOR NATIOMAL SPIRrruAL ASSEMBLY OF THE BAHA'IS OF THE UNrtED KINGDOM

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 Page Report of the Trustees 1 10 7 Report of the Independent Auditors 8 to 11 ststement of Financial Activities 12 to 13 Staternent of Financial Position 14 10 15 Statgment of Cash Flows 16 Notes to the Statement of Cash Flows 17 Notfj$ to thg FinanGial Ststom&nts 18 to 34

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 The trustees who are also direclors of the charity for the purpos¢ss of the Companies Aci 2006. present their report with the financial ststements of the charity for the ￿riod 1 January 2024 10 31 March 2025. The trustees have adopted the provisions ol Accounting and Reporting by Charities.. Statement of Recommer)ded Practice applicable lo eharities preparing Ih&ir accounts in accordan¢e with Lne Financial Reporting Standard applicalAe in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND AcTI￿riEs Objeclivos and aims The objects of the charty are= Sharing the ideals and assisting the efforts of the Baha'is to establish, uphold and promote the spiritual. educational and humanitsrian teachings of human brotherhood, radianl faith, exalted characler and selfless love revealed in the lives and utterdnces of all the Prophets and Messengers of G(xl, Four)ders of the world's revealed religions, and giverb renewed creative ene￿Y and universal application to the conditions of this age in the lrfe and utterances of Baha'u'llah. To administer the affairs ol the faith of Baha'u'llah for the benefil of the Baha'is of the Uniled Kingdom and the wider community according to the pwinciples of the Baha'i Farth, created and established by Baha'u'llah, defined and explained by 'Abdu'l-Baha, interpreted and amplified by Shoghi Effendi. and supplemenled and applied by the Universal House of Just￿@. which Baha'u'llah described in His Writings as the supreme boty Df the Baha'i r81igion. Over the past three decades, the worldwide Baha'i community had embarked on a series of plans, directed by the Universal Hwse of Juslice. A parb'cular focus had been to raise the Caparyty of individuab to contribute to the spiritual, material and social advancernent of their communikn.es and lo c.eate a jJst and prosperous society. In this connection, much f￿u5 had been given to developing a training institute with a sequence of courses that aims lo build the needed capacities in individuals lo cary out the many tasks that sud) an enterprise entails. In April 2022, the communily embathed on a new series of plans, the first ol these, a Nine-year Plan 12022-20311. focused on enabling individuals lo develop skJ"Ils, know1￿Jge. moral and spintual qualities rEeded tc contribute positively to their communities which, in tum, become lo be characterised by unity. justice. ewality. and peace. PUBLIC BENEFIT The trustees have had regard lo the guidance issued by the Charity Commission and are satisfied that the charity is for public benelil. Its primary objeclive is the advancement of religion and its current activities, such as its study circles, devotional rneetings, classes for the spiritual educatH)n of children. ?rogramme for the spiritual emFK)wermenl of junior-youlh. yriuth arKJ other acknviti&s contribul to the spititual and social dvf)lopm*nt of communiti&s and ar8 op8n to Page 1

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE During 2024-2025, the Baha'i community has experienced a period of dynamic growlh and hope, driven by the continuing implementation of the Nine-year Plan and th2 inspiring guidan￿ of the Universal House of Justice's Ridvan 2025 message. The House of Justice commended ￿)MMuNIte$ worfdwide for 'shining examples of noble endeavou¢' and described how the Faith's vision is touching more and more hearts, even as the wodd laces growing uncertainty and hardship. These developmenls have been allriiKJted to the global pro￿$$ of leaming, whi(* enables friends in all regions to apply insights creatively and bring ab￿t tangible progress. Slrikn'ng breakthroughs have emerged in varied conlex1s. pariiculady in places where the Baha'i teachings had not prevKJusly taken strong root. The plan of inueasiro capaaty of local communits.es to reach larger numbers, noting that devoteé pioneers-on both the home front and abroad-have Flayed a pivotsl role in nurturing new green shoots." Advances in social action, such as those in education and community transfom)alion. have also been prominènt, fostering Closer relationships with wider powlats.ons and expanding the srxjpe of service. The Ridvan message called special attention to the pK)wer of hope. "the one hope of a di5illusK)Ned humanity,. with Baha'i communities serving as havens of peace and progress amid the darkress of ujrrent global conditions. This growing contrast between sprilual light and social turbulence highlights Ihe urgent mandate to offer hope, Ljnily, and healing to those who seek meaningful thange. Throughout this period, genuine unity, inclusivity. and resilience have marked the approach lo challenges. aThJ these strengths are recognized as vitsl assets for the future. Looklng onwards, Ihe communlty Is reminded ￿ Ihe urgency of the prewt hwr as the firsl phase of the Nine-year Plan nears completion. The House of Justice emphasized that presen: efforts-undertaken with reliance on divine guidance-are foundational lo future success, exhorting all friends to "ceaselessly strive for the bettemient of the lives of one another.. The Naliorbal Spiritual Assembly is confident in the colkdive capacrty of the community lo respond to this summons and prays for continued Pfogress, increased unity. a widening impact on the betterment of society. FINANCIAL REVIEW FINANCIAL POSITION The National Assembly continues to organise gatherings across the country to address growing concems aboul the National Fund, which has beon running a deficit for several y￿rS. Last summer, the National Assembly ￿eated a Fund Education Team within the offi￿ of the Treasurer, closely SUPFM)rted by the National Assembly's Treasurèr. The team's mission Continues to be to èducate community members about the needs of the Funds and the spiritual importance ol contribuling. Treasurerfs Notes are still issued each Nineteen Day Feast and is dislributed to all Local Assemblies and Groups since November 2023. This team is now collaborating with the treasury assistants that have been appointed in their local areas. They meet with Local Spiritual Assemblies, communilies. and individuals lo raw awareness alKJul Ihe importance ol the funds Ihey will be drawing on matellals prepared by the Fund Education team. These treasury assislanls are supported by the treasurers of the Regional Council and National Assembly. bolh online and in person during visits. A promising devdopment is the prtrpublication release of Ruhi Book 11 titled Material Mèans, which Covers three UTMls.' 1. Giving.. The Spiritual Basis of Prospenty 2. The InslitulTron of the Fund 3. The Law of Huququ'llah. Page 2

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 FINANCIAL REVIEW PRINCIPAL SOURCE OF INCOME AND USE OF FUNDS RAISED In accordance with the Teachings of the Baha'i Faith. only Baha Is may Contribute tr) the funds. Thus, the primary source of inci)me is from the Baha'i community in the United Kingdom. The Na:ional Spiritual Assembly 81so benefits from lax rebates received from gift-aided contributions. Other sources of income indude renls receivable and deposit interest income. Given the objectives and actiwties outlined above. the NatiOWk31 Spitrtual Assembly has engaged in a focussed attewllpt lo ensure that all of its expenéilures and its assels support the primary objectives which have been sel. Investment pollcy and obje¢tives In 8ccordance with the guidance issued by the charities comwission. 14e Natitxbal Spiritual Assembly implementsd a wlicy for investing any surplus assets tr) secure the best financial return Iwilhin Ihe appropriate level of risk) to be used lo achieve the goals of the Faith. The Investment committee folk)w a Terms of Referer)ce which highlights the types of investments and proposed strategic asset allocation vthi¢h the National Spiritual has adopted. Each quarter the currenl holdings are assessed. botr lo ensure Ihat "the Asset Allocation is within lolerance ol the suggested strategy and lo ensure that any sp￿[fiC assets are ￿hleVIng the levd of growth or inci)me thal the Nalonal Assembly deems reasonable- within the agreed risk toleran￿. Although it is recognlsed thet it Is not practical to Wet a level of retums each year, glven the nature of certain investments, the National Spiritual Assembly makes evw enéeavour to meet a net return across the investment portfolio of 5.7Q/o per annum. To the end of the financ.al year, the investment strategy generated growth of 5.1 % on exi51ing equity, bonds and conm(xJitie5. Any equities suggesteé to be held wihin the portfolio continue to be screened as best as possible to ensure that the underfying hddings are nol ouiside of the ethical framevffjrk congruent with the principles of the Faith. RESERVES POLICIES In adolition lo th• general funds the National Assembly cgnsiders il prudont lo have a gen8ral rgsgrve to cov8r ils working Capitsl requirement {i.e. the day-to4ay inflows and ovtfiows of inwrne and expenditure). An amount equal to £900,000 or 6 months of Ihe annual salary bill - whichever is the greater- will theref￿e be set aside {lo be held in accessible funds) as a general resetve. In view of Ihe portf(Aio of properties held. the charily holds a pro￿rtY mainlenance reser¥e lo provide funds for significant renovations and repairs- the Minimum tsrget amount for this reserve is £350.0(K>. At 31 March 2025 the balan￿ was £350,000. Due to the expected increase in Growlh. the National Assembly will focus contribulions lo the National Fund. Total funds as al Ihe year-end were £13.296,272 of V*hi¢h £3.686.850 is held in Reslricled Funds and £9,609.422 in designateé funds. During the year, the National Spiritual Assembly hekj the amounts invested in equities of £8,028.011. which increased lo £10,219,428. Page 3

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 FINANCIAL REVIEW ASSETS HELD BY THE ASSEMBLY AS TRUSTEE ON BEHALF OF OTHERS Continental Pioneer Committee Various LSA funds Dr Khosr(M Taheri Intemational collaboration fund Baha'l International Fund Huququ'llah Payam-i-Bahai George Ronald publithing Other funds £78,532 £1,455,107 £117,(K16 £143.995 £1,292.431 £17.980 £23,(HJ2 £24,596 £19.262 FUTURE PLANS The coming yeaf sees the ci)mmunity move into the th*d year of the Nine-year Plan, and there a￿ plarn5 underway lo have another year of intensive training along a large youth conference planned for the surn￿￿r The Trustees will therefore continue lo fcKus Dn the strategies noted eadier ts try and increase the net inflow into Ihe FLJnds by encouraging a significant increase in contributions to the National Fund. and to enGourage the spiritual principles of sacrifi￿ and Universal Participation. STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The charity is controlled by ils goveming d(xument. a deed of bwst. and constitutes a limited company, limited by guardntee, as defined by the Companies Act 2(X)6. The National Spiritual Assembly of the Baha'is of the United Kingdom is a ￿MpanY limited by guarantee governed by ils Memorandum and Articles of Association dated 5 August 1939 and amended lo allow for current governance arrangements on 25 March 1950, 21 October 1994, 16 Septemjer 1995 and 14 May 1999. 11 Is registered as a charity with Ihe Charity Con¥nission and with the Scottish Charities of1￿. Every Member of the National Spiritual Assembly und8rtakes lo contribute such amounts as may be required not oxceeding £1.00 lo the National Ass8mbly's assets if il should be wound up while he is a Member or wilhin one year rf he ceases lo be a Member. for payment of National Spiritual Assembly's debts and liabilities eonlracted be'ore he ceased lo be a Member, and of the eosls, eharges an èxpenses of winding up, and for Ihe adjustment of Ihe rights of the Contrit￿l0￿eS among themselves. APPOINTMENT OF TRUSTEES The Trustees, who are also knows as the Members and direclors, consist of nine peisons chosen from among the Baha'ls of the United Kingdom who have attained Ihe age of 21 and who are elected by such Baha'ls in a manner provided in its Articles of ASS￿allOn, and who shall remain Members and continue in office for the period ol one year, or until their successors are eletxed and, on failure lo be re-elected lo the National Spiritual Assembw, shall ¢ease lo be a Member. The officers of the National Spiritual Assembly consist of Chairman, Vice-ehairm8n. Secretary and Treasurer. and such other officers as may be found ne￿$sary for the proper ￿nduct of its affairs. The officers are elected by majority vote of all Members taken by secret ballot. ORGANISAMONAL STRUCTURE The Assembly or board of Iruslees ol nine members adminislers the charily. The Assembly meets approximately every month. There are ag￿CleS, committees and counals which meet regulaty- A Secretary is elected by the Assembly as ils executive officer to manage day to day opeiatKJns o. the charity. A Treasurer ts elected by the trustees to manage its financial affairs. Page 4

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT TRUSTEE INDUCTION AND TRAINING New Members undergo an orientation to brief them on their legal obligations under charity and company law. the content of the Memorandum and Articles of AsSociab"￿, the AssemblYs decision making processes and ils eurrenl plans and aclivilies. During the induction they meet key employees and other Members. Members are encouraged lo atternd appropriate exlemal training events where they believe this will assist in the fvifilment of their role. The charity ￿0p1S a pay scale structure which is benchrnatked to other charities and is upjated every three years using the Towers Watson salary criteria. The charity encourages individuals to consiijer how they can serye the Faith and many offer their time sacrffic4ally. The Trustees are grateful lor their time and contributions to wjvance the Cause. RISK STATEMENT The Members have examined the major operational risks whKh the charttable company faTrs and confirm that Systems havg been established so Ihat the necessary steps can be taken to reduce Ihese risks. REFERENCE AND ADMINISTrATIVE DETAILS Registered Company number 00355737 (England and Wales) Reglstered Charlty number 250851 Registered office 27 Rulland Gale London SW71PD Trust•e5 Trustees infomiation We￿1 Momen PaIr￿k O'mara Darren Smith OlingaTahzib Robert Weinberg Dr Shirin Fozdar-ForuJdi Dr Ronnie Yousefzadeh-Bindra Marco Milone Shirin Taherzadeh {Treasur8r) (Chairl ice Char) {Sec￿lary) Company Secretary M Milone Page 5

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Shaw Gibbs (Audit) Linited Chartered Certifieé Aecountants Statutory Au¢Jilor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ Day lo day management of the charity is entruste(I to its chief executive officer, the Se¢xetary. Marco Mibne, and the Treasurer, Darren Srnith. STATEMENT OF TRUSTEES. RESPONSIBILMES The Irustees Iwho are also the direclors of National Spiritual Assembly of the Baha'is of the Uniled Kingdom for tho purwses of company lawl are responsible preparing the Report of the Trnslees and the financial statements in accordance wwth applicable and United Kingdom Accourting Standards (United Kingdom Generally Accepted A¢￿￿ntIng Practi￿1. Cornpany law requlres the trustees to prepare 17nanaal statements for each finandal year whlch give a tnje and falr vlew of the stale of affairs of the charitable company and of the incomirrfj resou￿$ and application of resources. including the income and expenditure, of the charitle company for that period. In preparing Ihose financial stalements, the Iruslees are required lo select suitable accounting ￿l¢le$ and then apply them consislenlly,. observe the methods and principles in the Charity SORP. make judgerllenls and estimates that are reasonal￿e and pwdenL prepare the finanual statements on the goirKJ concem ba%s unless it is inappropriate lo presume that the charitable company will continue in business. The trustees are reswnsible for keeping proper aceounting records which disclose with reasonable accuracy at any lime the fi'nancial position of the charitable company and to enable them to ensurè that the financial statements comply wrth the Companies Act 2006. They are also restxJr)sible for )afeguarding the assets ol the charitsble company and hence for taking rasonabl st8ps for thtr prevnti(x) and deltrthon ol fiaud and olh*r itregularili8s. In so far as the truslees are aware- there is no relevant audit infomialion of which the charitsble company's auditors are unaware. and the Iruslees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomialion and lo establish that the auditors are aware of that inf0mia￿on. AUDITORS The auditors, Shaw Gibbs IAudit) Limiled, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the tKJard of Iruslees on 2 December 2025 and signed on its behalf by= Page 6

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) REPORT OF THE TRUSTEES FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 M Milone- Trustee Page 7

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM Oplnlon We have audited the financial statements of National Spiritual Assembly of the Baha'is of the United Kingdom Ithe 'charilable company'l for Ihe period ended 31 March 2025 which comprise the Statement of Financial Aclivilies. the Statement of Financial Position. the Stalemenl of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom AccountiNJ Standards (United lQngdcKn Generally Accepted Accounting Practieel. In our opinion the financial statements= give a true and fair view of the stale of the charitable compaT)y's affairs as at 31 March 2025 and of its incoming resources and application of resources, including wt5 incowne and expenditure. the period then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practice., and have been prepared in accordance with the requirements of the Companies Ad 2006. Basls for oplnlon We conducted our audit in aco)rdan¢e with Intwnational Standards on Auditi"ng {UKI IISAS IUKI) and applicable law. Our responsibilities under those stsndards are further desciibed in the Auditors, responsibilities for the audit of the financial statements section of our report. We are inaependent of the charitsble company in accordance with the ethical requirements that are relevant to our audit of tne financial statements in the UK. incluéing the FRC'S Ethical Standard, and we have fulfilled our other ethical resFKJns)ililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auulting the financial stalements. we have condu(Jed that Ihe trustees. use of the golng concem basls of accountlng in the preparaliorb of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relab'ng lo events or conditions that. individually or ccbllectively. may cast significant doubt on the charitable company's ability to continue a5 a going concem for a period of at least twelve m(Hrths fr￿ when the fina￿la1 stslemenls are authL)rised for issue. Our responsibilities and the responsibilits.es of the trustees wilh respect to g(Mng concem are described the relevant seclh)ns of this report. Other inforniation The Iruslees are reswnsible lor the other information. The other informalion comprises Ihe information included in the Annual Report, other than the finanfyal ststemenls and our RetM)rt of the Independent Auditors thereon. Our opinion on the financial stdiements does not cover othei informatK)n and. 8xcpt to lh& xtnt oth8rwis8 &xpliciUy staled in our report. we do [￿t expres5 any forrr of assuiance conclusion thereon. In connection with our audit of the financial statements: wr responstbility s to read the other inforrnalion and, in doing so, consider whether the other infomation is materially inconsistent with the financial ststements or our knowledge obtained in audit or otherwise appears lo be materially misstated. If we identtfy such material inconsistencies or apparent material misstatements, we are required to determine whether Ihis gives rise to a material misstalemenl in the financial statements themselves. If, based the work we have performed. we eonclude Ihat there is a m8lerial misslatemenl of this other infotwnation. we are required to ￿p)rt that fact. We have nolhing lo report in this iegatd. Page 8

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM Oplnlon$ on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with Ihe financial statements- and the Report of the Trustees has been prepared in accordance with appliCa￿e legal requirements. Matters on whlch we are required to report ty exceptlo In the light of the krK)wledge and understanding of the tharitable company and its environmenl obtained in the course of the audit, we have not Klentsri￿I material misstatemenls In Ihe Report of the Trustees. We have nothing lo report in respecl ol the fdlowing mallers where the Companies Act 2(￿6 requires us lo report lo you if, in our opinion= adequ8te accounting records have not been kept or retums adequate for our audtt have not been received from branches not visited by us", tsr th& financial statements are not in agreement with the accounting records and rètums: or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the informalion and exFdanalK*ns we require our audtt., or th& trustees were not entilled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the RerM)rt of the Tnjstees. Responsibilities of trustees As explained more fully in the State￿￿nt of Trustees. Responsibilities, the trustees (who are also the directors of th8 charitable company for the purposes of company lawl a"e responwble foi the preparation of the fir)an¢lal statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees detem)ine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slalement5, the trustees are responsible for assessing the charitable company's abilily lo conlinue as a going concern, disclosing. as applicable: matters related lo going concem and using the going concem basis of accounting unless the trustees either intend lo liquidate the Charitable company (K lo cease operations, or have no realistic af(ernative but to do so. Page 9

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM Our responslbllltles for thg audlt of the flnanclal Stslgments Our objectives are to obtain reasonable assuran￿ aLK)ut whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, arK1 to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS (UK} will a￿vaYS detect a material misstatement il exists. Misstatements Can arise from fraud or error and 8re con&dered material if, individLally or in the aggreg8te, they coukj reasonably be expected to inflLJence the economic decisions of users taken on the basis of Ihese finanual stslements. The exlent to which our procedures are capable of deterAing irregularities. including fraud is detailed belDW.' We Obtain￿ an understanding of the legal and regulatory frameworks within vknich Ihe charity operates. focusing on thos2 laws and regulations that have a direct effect on the delemiinats"Jn of material amounts and disclosures in the financi81 slatemenls. The laws and regulations we considered in this context were the Ch8rities Act 2011. United Kingdom Generally Accepted Accounting Practice and relevant TaxatTron legislation. We identified the greatest risk of mateiial impact on the financial statements from Irregularities, including fraud, to be the override of controls by management and the understatement of revenue. Our audit pr(￿e(luTeS to respond lo these risks included enquirigs of management aljout Iheir own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing meeting minutes. regulalory correspondence and professional lees. detailed substantive testing on the cornpleteness of incowne, and reviewiig accounb.ng estirnates lor biases. We will also review the regulatory correspondence with the Charity Commission. Owlng to the inherenl limitat1￿$ of an audm, there Is an unavoidable Msk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventtng non-compliance and cannot b& expected lo delect non•compliance with all laws arKJ regulations. These Inherent limitab'ons are particulady significant in the case of misststement ￿sts￿lng from fraud as this may involve sophisticated schemes designed lo avoid deleclion. including deliberate failure to record transactions. collusion or the provision of inlention£l misrepresentations. A further d8scription of our r8sponsibilities for the audit of the financial sat•ments is located on th8 Financial R•porting Council's website at www.frc.org.uklaLKJitorsresponsibilities. This desuiption fomis part of our Report of the Independent Auditors. Page 10

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM Use of our rport This report is made solely to Ihe charilable companys members. as a brJy. in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we M￿h1 slate lo the Charitab￿ companWs members those matters we are required to state lo them in an auditors. report for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable corrpany and the charitsble companls members as a body, for our audit woth. for this rep(xl. or for the opinK>ns we have formed. Andrew Clifford (Senior Slatulory Auditor) for and on behalf of Shaw Gibbs (Auditl ￿"Mrted Chartered certifi￿ Accoun18nts Statutory Auditor Eagle Hous8 28 Billing Road Northampton Northamptonshire NN15AJ 4 December 2025 Page11

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM STATEMENT OF FINANCIAL ACTivrriES IINCORPORATING AN INCOME AND EXPENDrruRE ACCOUNT) FOR THE PERIOD 1 JANUARY 2024TO 31 kiARCH 2025 Period 111124 to 3113125 Tolal funds Year Ended 31112123 Tolal funds Unrestricted fJnds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3.080.764 7.011.275 10.092,039 6,612.690 Charitable activities Guardian's Resting Place Conferen￿$ Schools Plot fees Persian Arts & Lètt8rs 15.000 15.000 89,527 147.263 75,916 25,164 40,449 89.527 147,263 75.916 25.164 73,582 72,073 39,565 Other trading activities Investment income Totsl 44,￿3 236.003 3.699,600 44,963 238,315 10,728.187 23,403 119.850 6.981,612 2.312 7,028,587 EXPENDITURE ON Raising funds 23.715 23,715 46,724 Charitable activities Intemational funds Guardian's Resting Place Conferences Schools RegK)nal activities - te8ching and training Cormmunity development Oryanisation of community activities External affairs Property costs Depreciation Loss on sale of investmenl propety Auditors remuneration Local Spiritual Assemblies Persian Arts & Letters Ttknl 1.503.550 6,152,333 187.242 7,655.883 187,242 22,524 290.581 629,633 34.901 761.606 204,201 428.271 190,231 35,946 19,536 301,001 25.955 10,811,226 4.369,062 189,288 58,844 264,732 386,994 44,486 666,110 157,825 486,160 147,205 22,524 110,875 603,628 34,901 761,516 204.201 428,271 113.914 35.946 19.536 179,706 26.005 16,317 18,275 215,191 34,924 7,085,820 301,001 25.955 3.948.532 6.862,694 Net gains on investments 569,986 6.463 576.449 680,855 NET INCOME Transfers between fvnds Net movement In funds 321,054 172,356 1.000 173,356 493,410 576,647 21 320.054 493,410 576,647 The notes fomi part of UEse fttianual statements Page 12

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM STATEMENT OF FINANCIAL ACTivrriES IINCORPORATING AN INCOME AND EXPENDrruRE ACCOUNT) FOR THE PERIOD 1 JANUARY 2024TO 31 kiARCH 2025 Period 111124 to 3113125 Tolal funds Year Ended 31112123 Tolal funds Unrestricted fJnds Restricted funds Notes RECONCILIATION CF FUNDS Total funds brought forward 9.289,368 3,513,494 12,802,862 12.226,215 TOTAL FUNDS CARRIED FORWARD 9.609,422 3,686,850 13,296 272 12.802.862 The notes fomi part of UEse fttianual statements Page13

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 Total nds 2023 Total funds Unrestricted funds Reslricled funds Notes FIXED ASSETS Tangible assets Investments Investments Investment property 13 4,346.518 584.584 4.931,102 5,121,332 14 7,525,116 123467 11.995.101 2.849,860 10.374,976 170000 15,476.078 8.132,311 445.000 13.698,643 3,480,977 CURRENT ASSETS Stocks Debtors Cash al bank and in hand 16 17 99.269 954.285 537.682 1.591.236 99,269 954,285 753,533 1.807,087 67.137 208.695 950,901 1,226,733 215.851 215,851 CREDITORS Amounts falling due Mithin one year 18 (3,572.709) 19.978) 13.582,6871 12.122,5141 NETCURRENT ASSETS 1.981.473 205,873 1.T75,6001 895,7811 TOTAL ASSETS LESS CURRENT LIABILITIES 10,013.628 3,686,850 13,700,478 12,802,862 PROVISIONS FOR LIABILMES I404.2￿) 404,2061 NET ASSETS FUNDS Unrestricted funds Rvblii¢lvd fun(Js TOTAL FUNDS 9.609.422 3.686,850 13,296,272 12,802,862 21 9,609.422 3,686,850 13 296,272 9,289,368 3,513,494 12,802,862 The notes fomi part of UEse fttianual statements Page 14 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM (REGISTERED NUMBER: 00355737) STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2025 These financial statements have been prepared in accordance with Ihe provisions applicable to charitable companies subject lo the small C4)mpanies regime. The financial statements were 8pproved by thè Board of Trustees and authorised for issue on 2 December 2025 and were signed on its behalf by". D Smith - Trustee M Milone- Trustee The notes fomi part of UEse fttianual statements Page 15

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM STATEMENT OF CASH FLOWS FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 Period 111124 to 3113r25 Year Ended 31112123 Notes Cash flows from operating ¥tivities Cash generated from operab'ons Nel ￿sh provided byllused inl operaling activitss 1,030,192 1,030 192 618,4281 618,4281 Cash flows from investing activities Purchase of tangible fixed assets Purchase Df fixed asset investments Sale of fixed asset inveslmentslproperty Gain on fixed asset investments Interest received Dividends received N81 cash US￿ in inv8sting athities 1549,2351 12.564,6021 2.226,153 (9,783.105> 8,116.888 239,054 195.212 5,391 1,226,560> 84,246 324 803,1141 Change in cash and ￿$h ewivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period {196,368> 11,421,542) 949,9)1 2,371,443 753,533 949.901 The notes fomi part of UEse fttianual statements Page 16

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE STATEMENT OF CASH FLOWS FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Period 111124 to 3113125 Year Ended 31112123 Net income for the reporting period las per th• Ststern•nt of Financial Activities) Adjustments for. Depreciab"on charges Gain on inveslmenls Loss on disposal of fixed assets Interest re￿iVed Dividends received Impairment IncreasellDecrease} in provisions Increase in stocks Increase in deblofs Increasel{decreasel in credilors Net Cash provided byl{used in) operations 493.410 576,647 190,231 1576.4491 35,946 1195,2121 15.3911 147,205 1680.8551 184,2461 13241 272,789 404,206 132.1321 1745.5901 1,461,173 {4,3361 159.5531 785,7551 ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 2023 Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due wtthin one year Totsl cash and cash equivalents 715 752.818 2.489 948,412 753 533 949.901 ANALYSIS OF CHANGES IN NET FUNDS At 111124 Cash flow At 3113125 Net cash Cash at bank anil in h8n Bank ovèrdrdft 950.901 1.0001 949,901 949.901 197,368) 1.000 196,3681 196.368} 753,533 753,533 753 533 Tolal The notes fomi part of UEse fttianual statements Page 17

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing th¢ financial statements The fin8ncial statements of the charitable eompany. which is a Fublic benefit enlily under FRS 102. have been ep&ed in attordance wth the Charities SORP IFRS 102)'Acc￿ntlng and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounls in accordan￿ with Ihe Financial Reporting Standard applicable in the UK and ReJU1￿1C of Irelar)d IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting SlarKJard appIl￿ble in the UK and Republic of Ireland, and the Companies Acl 2006. The financial slalemenls trave been prepared under the historical cosl convention. with the eX￿PIlon of investments which are incl￿ed al rnarket value, as Ir,c¥Jified by the revaluation of ￿rtain assets. National Spiritual Assembly of Ihe Baha'ls of the UK is a charity. registered in Engl8nd and Wales. The charity's numbgr and registered Offi￿ address can be found on thè Compaiy Infomiation page. The wesentation currency of the financial stalewrEnts 15 the Pound Steding 1£). The trustees have considered a peri(xl of 12 months fron the date of approval of Ihese financial slalements and have a reasonable expectation that the charty has adequate ￿sOurceS to continue in operational existence for the foreseeable future. Thus they conlinue lo adopt the going con¢em basis of accounting in preparing the annual financial statements. The period end was changed to March from December and so these financial statements cover a peri(￿ of 15 months. Ac￿rdinglY the prior pericxd figures may not be comparable. Incorne AJI income is recogniseé in the Statement of Finan(#al Activibes once the tharity has enlitlement to the funds, il Is proble that the income will be r￿1ved and the amounl can be measured reliably. Expenditure Liabilities ar@ recognised as expenditure as soon as Ih•re is a legal or constructive obligation committing the Charity to that expenditure. 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 accounted for orb an accruals basis and has beèn classified LJndÈr headings that ag Jrègatè all cost related to thè category. Where costs C2nnot be directly attributed to particular headings they have been allocated to activities on a basis consistent wilh the use of rsiJurc*s. Allocatlon and apportlonmenl of costs Costs are allocated on an activity basis. Tangible fixed assets Depreciation is provided al the following annual rates in order to write off each asset over its estimated useful life. Freehold property 2% on cost Fixed assets a￿ stated al (x)st less ac(JJwnulated depre(yalion and accurwlaled impaitment losses. Where parts of an item of property. plant and equipment have differenl useful lives. Ihey are accounted for as separate ilems of ￿￿0P￿. plant and equipment Page 18 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 ACCOUNTING POLICIES - continued Tangible fixed assets Depreciation meth￿s, useful lives and residual values are rewewed at each b8lar)ce sheet date. The selection of these residual values and estimated lives requires the exercise ofjudgement. The threctors are required to assess whether Ihere is an indication of impairment lo the carying value of a55ets. In making that assessment, judgements are made in estimating value In use. The directors consider that the individual carrying values of assets are supportable by their value in use. Investments Investments thich are held for the long lem) a￿ induded in the fin8ncial ststements at market value. Investments are held for the spectFic purpose of prowding income to supwrt the eharity's work. Investment property Inveslment property is shown at most reGent valuation. kny aggregate $L￿lus or deficit arising from change5 in market value is shown as gains or losses in the Stalemenl of Financial Aclivities_ Stocks Stocks are valued at the lower of cosl and nel realisable value, after making due allowance for obsolete and slow moving items. Cost indudes all direct expenditure and an appropriate proportion ol fixed and Variab￿ overheads. Nel reallsable value 15 based on estimaled selling Pri￿ less any further cosls expected to b? incurred to completion arbd disposal. Taxation The charity is exempt from ￿[p(￿S￿on tsx on tts Charitab￿ activitses. Fund accountlng Unrestricted funds can be used in accordan￿ wth the charrtable objectsve5 at the ijiscrelion of the trustees. Designated funds ar8 amounts which have been sel aside at tho discretion of th8 trust885 for sp8cific bul not legally binding purposes. Restricted funds can onty be used for particular restricted purFK)sès within the objects of the charity- Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and putpose of each fur¥J is included in the notes lo the financial slatetnents. Financial instrumerrts Cash and cash equivalents in the balan￿ sheet ￿MpriSe cash al banks and in hand and short lemi deposits with an original maturity dat? of three months or less. Debtors and ereditors with no stsled interest rate and receivable or p8vable within one year are recorded at transaction price. Any bsses arising from impaimenl a￿ reccNJnised in the stalemenl of comprehensive income under administrative expenses. Financial liabilikn.es and equity in5truvnents are classified according to the substance of the conlraclual arrangemenls enlered into. An equity instrument is any contract Ihal evidences a residual inleresl in the assets of the entity after deduding all of ils finanaal liabilib"es. Page 19 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 ACCOUNTING POLICIES - continued Financial instruments Where the contractual Jbloalions of financial instruments Iinduding share capital) are equivalent to a similar debt inslrumenl, Ihose financial instruments are dassed as ffinancial liabilities. Finanoal liabilities are presented as such In the balance sheet. Finan￿ costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to prrKluce a constant rate of return on the outstanding Where the contractual temis of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrun*nt_ DividerHJs and dislributK)ns relating lo eouily instruments 8re debited direct to equity. Foreign curr8ncies Assets and liabilities in foreign CU￿ncleS a￿ translated into steding at the rales of exchange ruling al the statement of financial position date. Transactions in foreign currencies are translated into sterling at the ralo of exchange rLJling at the date ol trans￿IlDn. Exchange differences are taken inlo account in arriving al the operatin9 re5uIt. Pension eosts and other POSt￿etirement benefits The charltable company operates a defined contriiMJtion pension scheme. Contrfbutlons payable to Ihe charitable company's pension scheme are charged lo the Statement of Financial Activilies in the period to which they rdale. Significant judgements and estimates The preparation of financial ststements requires the use of certain crtiical accounling eslimales. It also requires man8gemenl lo exercise ils judgement in the p'ocess of applyiThJ the company accounting policies. The a￿a5 involving a higher degree of judgement or comsjexity. or a￿aS wiere assumptions and eslimales are significant lo the financial statements are disdosed wthin the irKlwidual accounb.ng policies above. DONATIONS AND LEGACIES Period 111124 Year Ended 31112123 3113125 Donations Gift aid Legacies 8.549.992 629,890 912.157 10.092.039 5,535,203 743,658 333,829 6,612.690 Page 20 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 OTHER TRADING ACTIVITIES Period 111124 to 3113125 Year Ended 31112123 Sales from publishing division INVESTMENT INCOME Period 111124 to 3113125 Year Ended 31112123 Rents received Dividends received Deposit account interest 37.712 5.391 195.212 238 315 35,280 324 84.246 119850 INCOME FROM CHARITABLE ACTIVITIES Period 111tt4 lo 3113125 Ye8r Ended 31112123 Aclivity Guardian's Resb"ng Place Guardian's Resting Place Confererkces Schools Plot fees Guardian's Rests"ng P Plot fees Events Schools Plot fees Baha'i Society Persian Arts & Letlers Income 28.449 12,000 15,000 89.527 147,263 75,916 73,582 72,073 Persian Arts & Letters 25,164 352 870 39,565 225.669 Page 21 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 RAISING FUNDS Other trading activities Period 111124 to 3113125 Year Ended 31112123 Purchases of literature for resale 46.724 CHARITABLE ACTIVITIES COSTS Support costs Isee note 81 Direct Costs Totsls International funds Guardian's Resting Pla Conferen￿$ Schools Regional activities- teaching and training Community development Organi5alion of comrnunity activibes Exlemal affairs Property costs Depreciation Loss on sale of investment property Auditors remuneration Local Spiritual A5semlAies Pgrsian Arts & Lètters 7,655.062 187.242 22.524 290.581 821 7.655.883 187,242 22,524 290,581 629.633 34.901 629,t333 34.901 761,606 204,201 428,271 190,231 35,946 19,536 301,001 25,955 10 787,511 761,606 204.201 428.271 190.231 35,946 19,536 301.001 25.955 9,969 602 817909 SUPPORT COSTS Goveman costs Management Finance Totals Inlemational funds Organisation of communty aclivities Loss on sale of inveslmenl property Auditors remuneration 821 256.467 35.946 821 761.606 35.946 19,536 817909 480.852 24.287 19.536 43.823 480,852 293.234 Page 22 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 NET INCOMEIIEXPENDITUREI Nel incomellexpenditurel is staled after thargin￿(creditingl'. Period 111124 lo 3113125 Year Ended 31112123 Auéitors, remuneration Dep￿lation- owned assets Deficit on disposal of fixed assets 19,536 190.230 18,275 147.205 10. TRUSTEES. REMUNERATION AND BENEFITS During the period £17.705 {2023". £nill was paid lo M Mik)ne and £nil (2023-. £2.9561 was paid to R BIr￿ra. This is permitted by the governing document of the charity. Trustees. eX￿nSeS During the period 3 truslees12023.. 51.. tr￿Ing directors of Ihe charitable company. received £10.93012023 £8.819) for reimbutsefflernt of eKpenses for hotd costs. travel costs and other Offi￿ expense5. 11. STAFF COSTS 2025 2023 Wages and salaries Social sacurity costs Other pension costs 1.636,997 151,472 125,069 1913 538 1.232,477 110,612 90,570 1433.659 The key management personnel are considered to be the Trustees onty. The average morhthly number of employees during the period was as follow5.. Period 111124 to 3113125 48 Year Ended 31112123 47 Employed staff Page 23 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 11. STAFF COSTS- ¢onlinued The number ol employees whose employee benefits {exduding ernployer pension ￿$1$) ex￿eded £60,000 was.. Period 111124 Year Ended 31112123 3113125 £60.LK11- £70,000 £90,CK11 - £100,0(KJ £150,000- £160,000 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Unreslricted fvnds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2.719.441 3.893.249 6,612,690 haritable activities Guardian's Resting Pl Schools Plot fees Persian Art5 8 Letters 40,449 40,449 73,582 72,073 39,565 73.582 72,073 39.565 Other Irading activities Investment iricnme Total 23,403 112,478 3,040,542 23,403 119,850 6.981,612 7,372 3,941.070 EXPENDITURE ON Raising fvnds 46.724 46,724 Charitable activitles International fvnés Guardian's Resb'ng Pl cOnferen￿S Schools Regional activities- teaching and training Community development Organisalion of community actNits"es External affairs Property costs Depreciation Auditors remurberation Local Spiritual ASSeM￿leS Persian Arts & Letters 1.100,766 3.268,296 189,288 4,369,062 189,288 58,844 264.732 386.994 44,486 666,110 157,825 486,160 147.205 18,275 215,191 34,924 76,752 386.934 44.486 655,613 157.825 444,395 133.156 18,275 187,980 10,497 41,765 14.049 215,191 31,924 Page 24 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES- Continued Unreslricted funds Restricted funds Total funds Total 3.158,694 3.927.126 7,085,820 Nel gains on investments 680,855 680,855 NET INCOME Transfers between funds Nèt rnovement in funds 562,703 38,177 524.526 13,944 38,177 52.121 576,647 576.647 RECONCILIATION OF FUNDS Total funds brought forward 8,764.842 3,461,373 12.22fj,215 TOTAL FUNDS CARRIED FORWARD 9 289,368 3,513 494 12802862 13. TANGIBLE FIXED ASSETS Freehold propety COST Al 1 January 2024 and 31 March 2025 DEPRECIATION Al 1 January 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 Al 31 December 2023 7,653,240 2.531,￿8 190,230 2.722,138 4 931 102 5.121.332 Included in (x)sl or valuation irf land ar)d buildings is Ireehold land of £44.(K)0 12023 - £44,000) which is not depre¢ialed. The charitable company has taken adV￿tage of the transitional provisions of FRS 102 in relation lo tangible fixed assets. From the date of trans11ion, assets previously accounted for on a revaluatic￿ basis are Instead accounted for on a cost basis, using the nel book value at Iransitr'on as deemed cost. In respert of assets ststed * valuation, Ihe wmparable hi3toriG wst and depr￿lation valtles are as follows: Page 25 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 13. TANGIBLE FIXED ASSETS- Continued NBV on histori¢al cost basis NBV based on revalued amounts Cost Depreclation Rulland Gale, London 3 Langdale Road, Liverpool Willow Isl8nd Ilandl Wid8ford Hill. St Ola, Orkney I￿eS Ilandl 735,744 36.952 559,166 21.416 176,578 15.536 500 1,911,000 73,625 8,000 500 36.000 773.6 580,582 193,114 2,028,625 Properties held in trust for the UnNersal House of Justice= 99 Marshall's Close. New Soulhgale. Loidon - stsled al (ost- £94.800 48 Conislon Road, Goring By Sea, Wortiing. BN12 6JT- stated at cost- £428.815 Properties held in trust for the Athian Library TMSL The Old ChaF)el. 14 Pleasant PL4ce. Sandy- stated at cost £289,046 14. FIXED Ass￿ INVESTMENTS Listed inveslments Unlisted investments Totals MARKEf VALUE At 1 January 2024 AddilK)ns Disposals Revaluatiorbs At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 DecemLkr 2023 8,028.011 9.783.105 18,495.721) 904.033 10.219.428 104,300 8.132,311 9.783,105 18,495,721) 955.281 10,374 976 51,248 10.219.428 8.028.011 10 374916 8 132311 104 300 There were no investment assets outside the UK. Unlisted investments are staled at market value at the year end. The GOSt of the investment is £56,542. Page 26 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 15. INVESTMENT PROPERTY FAIR VALUE Al 1 January 2024 Disposals Al 31 March 2025 NET BOOK VALVE Al 31 March 2025 Al 31 December 2023 445,000 275 0001 170,000 170 000 445 000 Fair valu8 al 31 March 2025 is represented by- Cosl 170,000 The investment property is valued based on an existing agreernent for the tenant lo purchase at a set price, and not al fair valu&. 16. STOCKS 2025 2023 Stocks 67,137 17. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2023 Other debtors VAT Pre￿YMentS and accrued income 34.122 28,920 209 179.566 208 695 920,163 954 285 Page 27 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 18. CREDITORS: AMOU1￿s FALLING DUE WlThhN ONE YEAR 2025 2023 88nk loans and overdrafts (see note 19) Trade creditors Social security and olher taxes VAT Other creditors Funds held f(￿ others Accruals and deferred Income 1,000 87,706 51,794 95.324 2,226 15.295 3.171.910 297.932 3 582 687 32,193 1.926.168 23,653 2 122 514 Induded within Funds held for others Ilalling due within one year and over one yearl are amounts received on behalf of other organisalions or individuals no: recognised in these accounts. Receipts for the year lotalled £2,296,758, payments for the sear totale(1 £1,898,816 and investment movements and other adjuslmenls were £847.800. Deferred income relate5 to income re￿IVed tsef￿e the year end which relates to acb'vities taking place in the next rinancial year. Balance as al 31 December 2023 Amount released to incoming resour￿$ Amount deferred in year Balance as al 31 March 2025 5,468 15.468} 19. LOANS An analysis of the maturity of k>ans is given below- 2025 2023 Amounts falling due wilhin one year on demand- Bank overdrafts A technical bank overdraft arises where a fund is in deficit or where the fund comprises mainly non•f2sh as5els. Thi5 IS not indiGalive of an actual oveidraft faGility al the bank. Page 28 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 PROVISIONS FOR LIABILMES 2025 2023 Provisions 404 206 21. MOVEMENT IN FUNDS Net movemenl in funds Transfers beiween funds Al 3113125 At 111124 Unrestricted funds General fund Social Action Fund Property maintenance lund Contingency Fund Capital projects Growth fund Guardian's Resting Pla UK Temple Fund - Designated Fund Faroes CÈntre Fund Funds representing properties held 132.983 6.408 337,749 9(YJ.751 6.615 2.639,994 389.054 723.012 109,510 4.043.292 9.289.368 1942.6041 797 26,387 69,546 809.621 7,205 350,000 900,000 9,459 2,838,353 566,581 936,010 109,510 3.892,304 9.609,422 14.1361 170.2971 830,889 177.527 212.998 1632.5301 57.330 321.054 93.558 11,000} Reslricted funds Deputisation UK Tetnple Fund Guardian's Restiw pl￿e Paul Malcolm Booth Fund Baha'i Instttute of Higher Educalion Faroes Centre Fund Residential Centre reserve Department of Health Royal York Crescent Aparbnent 157.694 1.573.770 910.946 5.631 11.OLKII 259.369 228.937 6,183 371.964 3.513.494 12.802.862 90.181 208.992 1107.4561 (12821 247,875 1,782,762 803,490 4,349 1.000 18211 14,9771 19411 11.340 172.356 493.410 258,548 223,960 5,242 360,624 3,686,850 13,296.272 1.000 TOTAL FUNDS Page 29 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 21. MOVEMENT IN FUNDS- continued Nel movement in funds. induded in the above are as fCAl￿¥s-. Incoming sources Resources exper)ded Gains and losses Movement in funds Unrestricted funds General fun so￿al Action Fund Property Maintenan￿ fund Contingency Fund Capital projects Growth fund Guardian's Restiw Place UK Temple Fund - Designated Fund FLJnds representing properties held 2.894.749 797 {3.805.8721 131.4811 1942,6041 797 26,387 69,546 2,844 830,889 177,527 212,998 57,3301 321,054 26.386 69.546 695,0(M) 78,461 27.748 177.7461 213.635 99,066 185.250 7,584 569,986 64,914 13,948.532) 3.699,600 Rostrict8d funds Depulisation UK Temple Fund Guardian's Resting pl Paul Malcolm Booth Fund Baha'i Inslilute of Higher Education Intemational Funds Faroes Centre Fund Residerblial Centre reserve Department of Health Local Spiritual Assemblies Royal York Cr85cent Apartment 115.335 208,992 73.323 170 178.254 6.151,512 125.1541 90,181 208,992 1107,4561 11,2821 1187,2421 11.4521 1178.2541 16.151,5121 18211 14.9771 19411 1301,0011 11,340 6.862.694) 10.811.226 6,463 18211 14,9771 19411 301.001 7.028,587 10.728.187 6.463 576.449 172,356 493,410 TOTAL FUNDS Page 30 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 21. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movemenl in funds Transfers belween funds Al 31112123 At 111123 Unrestrictsd funds General fund Social Action Fund Property maintenance fund Conbngen¢y Fund Capital projects Growth fund Guardian's Restiw Place UK Temple Fund - Designated Fund Faroes Centre FurKJ Funds representing properties held 244.643 6.013 308.356 900,751 232.649 395 29.393 1344.3091 132,983 6,408 337,749 900,751 6,615 2,639,994 389.054 723,012 109,510 4,043,292 9.289.368 6.615 486,945 186,443 205.709 16.3001 99,5661 4.105 35.6091 2,252,615 198.506 552.912 109.510 4.185.236 8.764.842 585,446 562.703 443,502 (38,177} Resirfcted funds Depulisation UK Temple Fund Guardian's Resting pl￿e Paul Malcolm Booth Fund Baha'i Institute of Higher Edu¢2tion Faroes Centre FurKI Residential Centre reserye Department of Health Royal York Cr85cent Apartment 56.623 1,543.923 963.335 6.494 101,071 29.847 152.3891 340 (1.0001 110.4251 14,9761 1721 48,452 13.944 576.647 157,694 1.573,770 910,946 5,631 11.0001 259,369 228,937 6,183 371,964 3,513,494 12,802,862 {1.2031 269.794 233.913 6,255 381,036 3,461,373 12.226.215 39.380 38,177 TOTAL FUNDS Page 31 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 21. MOVEMENT IN FUNDS- continued Cornparative net movement in fijnds, included in the above are as follows.. Incoming sources Resources exper)ded Gains and losses Movement in funds Unrestricted funds General fun so￿al Action Fund Property maintenance fund Capital projects Growth fund Guardian's Restir)g Place UK Temple Fund - Designated Fund Funds representing properties held 2.652.5 395 {2.563.5011 143.560 232,649 395 29,393 6,615 486,945 186,443 205,709 585.4461 562,703 29.393 6.615 298,OCKI 75,694 5,835 1.413 3.040.542 188,945 110.749 199,874 8,334 680,855 595,193 13.158.694) Restricted fvnds Depulisation UK Temple Fund Guardian'5 Restiffj pl&e Paul Malcolm Booth Fund Baha'i Instrtute of Higher Educab"on Inlemational Funds Faroes Cgntre Fund Residential Centre reserve Derby Mulilailh Project Department of Health Local Spiritual Assemblies Royal York Cr85cent Apartment 101,071 29.847 136,899 101,071 29,847 152,3891 340 11,0001 11892881 186.980 3.268.296 1187.9801 {3.268.2961 110,4251 14.9771 1601 1721 1215,1911 50,837 3,927.1261 7.085.820 110,4251 14.9761 1721 215,191 2,385 3,941,070 6.981.612 48,4521 13,944 576,647 TOTAL FUNDS 680.855 Unrestricted, desi9r￿ted funds The Soryal Adion fund may be used at the discretion of the National Assembly for soual acth)n projects. The Pioperty Maintenance Fund is established a5 a reserve for major property maintenance c051s. The Conlingency Fund Iformedy General Reser¥e} is estsblished lo cover three mThiths average extenditure The Growih Fund is estsblished for the promotion and growth of the Baha'i community. The UK Temple Fund - D¢si9naled Fund represents lund5 which have been set aside by the trustees t()wards the cost of buildirbg a future Baha'i Temple. Page 32 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 21. MOVEMENT IN FUNDS- continued The Guardian's Resting Place- Designated Fund represents fijnds which have been sel aside by the trustees for the upkeep of the Guardian's Rests"ng Pla￿. The Funds represenlir¥J properties held was created in 2021 lo amalgamate into one single designated fund the following individual designated funds.. Royal York Crescent. ResKlentsal Centre reserve, 8elfast Temple Funds, Belfast Centre Fund and Revaluation furKI. The Residential Centre Reserve represents the balan￿ of funds relabng to the new national training centre in Lower Amcott. Bicester. The Belfast Centre Fund and Beffast Temple Fund are estsblished for the purpose of purchasing a Baha'i Centre and Temple irb Belfast. The Royal York Crescent Apartment fund has been ostablished for the refurbishment and upkeep of thg propety. The Revaluats"on furKJ has been established due to the revaluation of 27 Ruuand Gate and 3 Langdale road. A yearfy adjustment for the depreciation is carried out. Restrlrted Funds The UK Temp￿ Fund is estsblished towards the cost of building a fvture Baha'i Temple. The Paul Malcolm Booth Fund is to provide sch(Aarships for Baha'is and others on k)w inGome to enable them lo attend summer and winler schwls and other natx)nal and intemalK•nal gatherings. The DeputisatK)n Fund is established for the Purpose of deputising teacher5 to leach the Faith. The Guardian's R@S￿ng Place Fund is establishgd for th8 upkéep of the Guardian's R851ing Plac8. The Residential Centre ReseNe represents funds which have been obtsined for the creation of a national training centre in Lower ArncotL Bi¢ester. Th8 Faro8s Cntr8 Fund is stablish8d kji ihe purpos& ol purchasing a Centr& in th8 Fat0 Islands. The 1ntemati￿aI Fund represents funds received for Ihe Baha'is Inlemational Funds and other International Funds. The Local Spiiitual Assemblies fund ￿presents funds received for Local Spiritual Assemblies. The Royal York Cres(nt Apartment fund has been established for the purchase of the apartment and for the subsequent refurbishment and upkeep of the property. The Baha'i Institute of Higher Eduration fund is ￿ to provide scholarships for educational purposes. The Department of health fund has been eslablshed for the Comp￿tion of the Baha'is Health Care Chaplaincy Support Project. Page 33 continued...

NATIONAL SPIRITUAL ASSEMBLY OF THE BAHA'IS OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 JANUARY 2024TO 31 MARCH 2025 21. MOVEMENT IN FUNDS- continued Transfers befv￿en fun(ts The transfers between unrestricted and designal&J fvnds a￿ lo reallocète funds as determined necessary by the Trustees. EMPLOYEE BENEFIT 08LIGATIONS The tharitable company operates a defmed conlribution pension scheme Dn behaw of ils employees. The assets of the scheme are held separately from those of the charity in an independently administered funé_ The pension cost charge represents contriljjlions payable by the company to the lund and amounted lo £115,261 12023." £90,570). 23. RELATED PARTY DISCLOSURES During the period D Smith, Trustee, charged £nil (2023.. £7.5001 respectively lo the charity in respect of consultancy services provided. During the period Milone Consulting Ltd. charged £17,70512023= £nil) to the charity in resp&ct of consultancy seThI￿ provided. Trustee Marco Milone is a Direclor of the company. During the period, AJ Tahzib, who is the wrfe of Trustee O Ta￿b, received remuneration of £28,913 12023.. £32,8C)71. During the perioé, R Bindra. who is the wrfe of TnJstee Dr R Yousefzadeh-Bindra, received remunerallon of £47,8C)4 (2023.. £37,124). Incluéed in funds held for others at the period end is £339 {2023.' £489) due trom Based-UK, which share a mLrtual Trusteo in W Mom•n. Ineluded in funds held for olheTS at the period end is £24:59612023". £32.9201 relating to lunds th2t are held as agènts on behalf of G￿rge Ronald Publisher Ltd, which share a mutual Director in D Smith. Contributions of £30,OCK) was received during the period and experKJiture of £38,324 was inCu￿ed during the year. 24. OPERATING LEASES- LESSOR Minimum lease receipts under norkcancellable operatiThJ kases fall due as follows.. 2025 2023 Within one year Between on and five years In mcre than fwe years 9,750 9.7sO Page 34

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