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 d*vf)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 charit*le 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 r*asonabl* st8ps for thtr prev*nti(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. 8xc*pt to lh& *xt*nt 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 r*port
This report is made solely to Ihe charilable companys members. as a br*Jy. 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
prob*le 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
r*siJurc*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 C*ntr8 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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