EDUCARE M (Registered Charity No: 1065452) (Registered Company No: 3436147) TRUSTEES' REPORT AND FINANCIAL STATEMENTS 31 MARCH 2025
EDUCARE M REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATION DETAILS TRUSTEES GOVERNING DOCUMENT CONSULTANTS COMPANY SECRETARY REGISTERED OFFICE CHARITY REGISTRATION NUMBER COMPANY REGISTRATION NUMBER INDEPENDENT EXAMINER BANKERS SOLICITORS Declan Linnane (Chair) Marjorie Bannister (Vice chair) Louisa Craig (Appointed June 25) Adam Hardy (Resigned May 25) Helen Hill Imogen Lavelle (Appointed May 25) Maureen Martin (Resigned May 25) Patrick Morrissey (Resigned May 25) David O'Farrell John Shinkwin Memorandum and Articles of Association dated September 1997 Sister Judith Russi, SSMN Brendan Duffy Monica Walczak Suzanne Riley 1 Grafton Road Harrow Middx HA1 4QS 1065452 03436147 Olayinka Tomori ACA DChA Longmeade Consult Ltd The Old Rectory Springhead Road Northfleet, Kent DA11 8HN Barclays Bank plo Leicester LE87 2BB Stone King LLP 13 Queen Square Bath BA1 2HJ 1
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and the accounts of the charity for the year ended 31 March 2025. They have adopted the rovisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin heir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR$ 102 (Second Edition effective 1 January 2019) and complied with the requirements of the Companies Act 2006. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution and governance The Charity was established by Memorandum and Articles of Association dated 1 September 1997 and is registered with the Charity Commission, no. 1065452. The Charity is a company limited by guarantee; company no. 03436147. The length of service of Trustees is determined by the constitution of the charity. One trustee is obliged to retire by vote at Annual General Meeting. At every third Annual General Meeting, the members vote to remove one of the Board of Trustees a member of the company. OBJECTIVES AND ACTIVITIES EducareM is a charity whose objects are "...to advance and promote the spiritual and moral development of children and young people and development of family values. " This has been achieved principally by means of the charity's activities in schools but the charity, with the aid of specific funding, has now initiated a national programme of formation for Headteachers and supporting the development of Catholic education at all levels; striving to advance the radical mission of the Church in PUBLIC BENEFIT The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ACTIVITIES, ACHIEVEMENTS, PERFORMANCE AND FUTURE PLANS EducareM continues to work nationally, offering the following programmes • Governor training • Christ the Teacher for serving heads, directors, CEO's and Multi Academy Board members • The annual Reconnect conference for Christ the Teacher graduates • Tabor programme for Deputy Heads, Assistant Heads, and Middle Leaders • The Building the Kingdom curriculum development programme • Chaplaincy development • Oracy for Advocacy programme • The National Retreat • Pilgrimage to Assisi • Bespoke Inservice days as requested by individual CMACs and Schools Feedback from the CMAC (Catholic Multi Academy Companies) responding to the provision offered through their service level agreements, continues to be outstanding. Mr Adam Hardy, one of the trustees completed his term of office as a trustee and responsibility for monitoring SLA provision. This has now been taken up by the newly appointed trustee Miss Louisa Craig who is also the Headteacher of Our Lady and St Chad Catholic Academy in Wolverhampton. 2
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 REVIEW OF THE YEAR (continued) EducareM leadership team The leadership of EducareM has continued to deliver a high level of hands-on training and support. The team is made up of the following people; Sr Judith (EducareM Director), Mr Brendan Duffy (National School of Formation Director) Mrs Maureen Glackin (General Secretary of Catholic Independent Schools' Conference - CISC) and Mr Martin Johnson (Executive Headteacher and Headteacher of the Sacred Heart School in West Houghton and Mr John Nish primary Headteacher and President of CATSC and Mrs Julie-Anne Tallon director of the Catholic Primary Partnership and Mrs Monica Walczak, governor and retired Curriculum development The Building the Kingdom initiative continues to reach more schools nationally. Many schools are in their second and third year of designing and developing their curriculum so that it is in line with the mission of the Church in education and Ofsted compliant. The new development which began last year is now well established and proving very helpful to schools as the develop pupils Oracy for advocacy skills, speaking truth to power and actively engaging in endeavouring to influence public decisions Formation for leadership today Pupil Chaplaincy Teams EducareM continues to support CMACs and dioceses in the development of pupil led Chaplaincy teams. Demand for this training is increasing mainly due to two factors, : Lack of trained lay chaplains Finance The GIFT (Growing in Faith Together) Chaplaincy teams are a creative and empowering way of developing chaplaincy both in schools and across CMACs. An exciting series of events occurred in the Archdiocese of Birmingham with 17 Schools at both primary and secondary levels, taking part in a two-day event to training staff and pupils in Chaplaincy and a further day training for Caritas Ambassador teams. Educare COM Educare Educa London Area Oracy for Advocacy Day. Young people speaking on the topic "The leaders I want to see today" 3
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 REVIEW OF THE YEAR (continued) National Retreat "Leaders in Hope" Once again, this event was full to capacity and led by Rev Father Nicholas Austin SJ. Bishop Timothy Menezes joined the retreat as the main concelebrant for the celebration of the Eucharist. The talks from Fr Nick were truly thought provoking. • I think you always hit the right tone! • Thank you so much - I 'didn't have the time' to come but I feel spiritually renewed. • Music from CJM exceptional. National School of Formation The 8th Cohort of 40 headteachers, directors and governors were successfully completed in March 2025. EducareM Sir John Battle former Labour MP and Dr Christine Allen from CAFOD at National School of Formation Participants at the National School of Formation 4
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 REVIEW OF THE YEAR (continued) During the training, participants were invited to select two UK study visits. • Cornerstone, a day centre providing services to vulnerable and disadvantaged adults. • Corrymeela Project N. Ireland — a centre for Dialogue for Peaceful Change. • Fatima House Birmingham- a centre for transforming the lives of destitute women and asylum seekers. Women at the Well — a drop-in centre at Kings Cross. • L'Arche —communities where people, with and without learning disabilities, share life together, living or working in community. • Cardinal Hume Centre — which focuses on four area of need: employment, housing, education and skills and legal status. iGNITE! — which supports young people 11—25 to help them re-engage with education, find employment, move away from anti-social behaviour, gang environment and exploitative relationships. Pilgrimage to Assisi (March 2025) This was a new pilot venture offered for the first four cohorts of the National School of Formation. EducareM invited graduates from the first four previous cohorts to take part in this venture. Places were limited to 25 to keep it manageable. The invitations were quickly taken up. The pilgrimage was led by Sr Judith Russi and Rev Canon Jonathan Veasey. The overall impact and value of this experience proved to be significant. Having reviewed the experience EducareM hopes to repeat it for the remaining postgraduates of the National School of Formation. Headteachers in Assisi
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 REVIEW OF THE YEAR (continued) Reflection and discussion time in Assisi Governor Training An extended series of Governor Training twilight sessions continue to be available online for Governors. These twilight sessions are working well as they are held at what appears the most convenient time for governors. Attendees are also able to access previous recorded topics. Bespoke Governor training is being delivered for the Archdiocese of Birmingham to assist with their reorganisation and implementation of a new Framework. Tabor Programme The Tabor programme has completed its' third cohort. The encouraging and very positive reviews and evaluations mean that EducareM will continue to provide this programme. Sarah Barreto, General Secretary CISC, Dr Maureen Glackin CES, Martin Johnson Programme leader with delegates Tabor Programme 6
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 New initiatives EducareM has long identified CATSC as a professional partner. The newly appointed President Mr John Nish expressed the desire to see CATSC and EducareM working more closely together. To this end a National Conference has been planned for March 5th 2026 for a relaunch of the partnership. Catholic Schools: Meeting the Challenges of Contemporary Education ational Catholic Education Da ursday, 5 March 202 Leading International and National Speukers share insights on the Church's mission in education in this fast changing world. Key speakers invited include Bishop Michael Brohl CSsR Cardinal Luis Antonio Tagle (ibo) Catso EducareM Conference Fee. E99 (one d gatel| £179 To apply, please contact Miss Sue Riley, suerileyeducarem@hotmail.co.uk • WalcaukMes Together For The Common Good EducareM is delighted to recognise Together for the Common Good as an important partner in our work. Jenny Sinclair the founder and CEO is now part of our programmes for those in leadership positions. EducareM Brendan Duffy, Sr Judith with Jenny Sinclair and Jo Stow Together for the Common Good 7
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 FINANCE REVIEW The charity continued with its usual activities during the year. Total income for the year fell to f226.4k (2024: f240.3k), despite a £20.Ok donation from the Sisters of the Holy Cross. However, income from the National School of Formation (NSF) program was £112.2k in 2025 compared with £135.6k in 2024. Total expenditure was £229.0k (2024: £172.2k). Inflation continues to persist but also, an additional £lok was spent o consultancies while NSF costs rose from £83.8k to £122.0k in 2025 There were net losses on investments of £2.8k (2024: £12.4k net gains) due to weaker global stock markets following the rounds of tariffs in the USA. The Trustees are keen to ensure that the charity's services are open to all irrespective of ability to pay. Therefore, it is their policy to offer subsidised rates, in cases of need, upon application. 5 grants totalling f2,764 were offered this year for the National School of Formation and the retreat (2024: Six grants totalling f3,125); income is stated net of these amounts. The result for the year was net expenditure of f5.1k (2024: £80.5k net income), all of which were unrestricted funds. RESERVES POLICY It is the intention of the Trustees to maintain financial reserves at a level whereby they can fund the ongoing activities of the Charity. At the year-end the "free reserves" of the charity, that is total funds excluding restricted funds, stood at £303.2k (2024: £308.3k), representing 15 - 18 months of budgeted expenditure. Some of the funds are simply a result of timing and will be expended in the coming years. Overall, this aligns with the Trustees' aim of holding approximately one year's expenditure in reserve. These reserves also provide a sound capital base for the longer term, to finance the charity's working capital and its cash flows since considerable expenditure is often incurred by the charity before the corresponding revenue is In the view of the Trustees, the charity's financial statements continue to indicate a healthy balance of funds with sufficient reserves in place to meet the charity's obligations in the medium term. Trustees remain optimistic that the charity will continue to be in a position to provide the much-needed support to schools and other organisations of the benefit of children. INVESTMENT POLICY The Trustees have the power to make investments as they deem fit. Currently, the charity has invested some of its cash reserves in short term low risk charity investment funds. 8
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES' RESPONSIBILITIES The Trustees (who are also the directors of the Company) are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Trustees to prepare financial statements for each financial period which give a true and fair viev ot the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure for that perioc In preparing these financial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; adopt the going concern basis unless it is inappropriate to presume that the charitable company will continue on that basis. The Trustees are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011 and Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities. The financial statements have therefore been drawn up to comply with the above statutory requirements, with the Memorandum and Articles of Association and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition effective January 2019) - Charites SORP (FRS102). Approved by the Trustees on ...... November 2025 and signed on their behalf by Declan Linnane Chair of Trustees Dedan Qunnae 19/1/2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDUCARE M FOR THE YEAR ENDED 31 MARCH 2025 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of the report s the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for t eparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Ac Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's report I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Olayinka Tomori ACA DChA ..20. November 2025 Longmeade Consult Ltd The Old Rectory Springhead Road Northfleet Kent, DA11 8HN 10
EDUCARE M STATEMENT OF FINANCIAL ACTIVITIES (Including Income & Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 Total 2025 Unrestricted Notes Total 2024 (Note 13) INCOME from Grants and Donations Investment income Charitable activities Total income 1 2 3 21,006 3,159 202,459 226,624 239,348 240,333 EXPENDITURE on Charitable activities 4 Total Expenditure Net income/(expenditure) before investment gains/(losses) Net gains/(losses) on investments Net movement in funds Accumulated Funds Brought forward at start of year Carried forward at end of year 9 228,967 228,967 (2,343) (2,789) (5,132) 308,349 £303,217 172,248 172,248 68,085 12,402 80,487 227,862 £308,349 No separate summary income and expenditure account has been prepared because the information it would contain is given in the above statement. The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure expended derive from continuing activities. The notes form part of these financial statements. 11
EDUCARE M BALANCE SHEET AS AT 31 MARCH 2025 COMPANY NUMBER: 3436147 2025 2024 Notes FIXED ASSETS Investments CURRENT ASSETS Debtors Bank and cash balances 103,319 106,108 10 27,250 229,729 256,979 (57,081) 35,810 200,778 236,588 (34,347) LESS: CURRENT LIABILITIES Creditors: amounts falling due within one within one year: NET CURRENT ASSETS NET ASSETS Represented by: FUNDS: Unrestricted Restricted 199,898 £303,217 202,241 £308,349 303,217 308,349 12 - £303,217 £308,349 The notes form part of these financial statements. For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. Approved by the Trustees on ....... November 2025 and signed on their behalf by Declan Linnane Chair of Trustees Deda Chunnere 19/11/2025 12
EDUCARE M CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 Cash flows from Operating Activities Net cash outflow from operating activities Investing Activities Purchase of investments Change in cash and cash equivalents in year Cash and cash equivalents at 1 April 2024 Cash and cash equivalents at 31 March 2025 Notes to the Cash Flow Statement Notes A B A. Reconciliation of net movement in funds to net cash flow from operating activities 28,951 - 200,778 $229,729 Net movement in funds (as per the Statement of Financial Activities) Adjustments for: Decrease/(increase) in debtors Increase/(decrease)/increase in creditors Net gains/(losses) on investments Net cash (used in) operating activities B. Analysis of cash and cash equivalents Cash at bank and in hand 2025 (5,132) 8,560 22,734 2,789 28,951 $229,729 13 2024 50,260 - 50,260 150,518 $200,778 2024 80,487 (13,838) (3,987) (12,402) 50,260 £200,778
EDUCARE M ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2025 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation These accounts have been prepared for the year ended 31 March 2025. Comparative information is provided in respect of the year ended 31 March 2024. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. They accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charitable company constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound. Critical accounting estimates and areas of judgement Preparation of the accounts may require the Trustees to make significant judgements and estimates. There are no significant items in the accounts where these judgements and estimates have had to be made. Assessment of going concern he Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. Th rustees have made this assessment in respect to a period of one year from the date of approval of these accounts The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. Any significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 March 2026, the Trustees consider that there are no significant areas that affect the carrying value of the assets held by the charity. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a conference or the provision of another specified service is deferred until the criteria for income recognition are met. In accordance with the Charities SORP FRS102, volunteer time is not recognised. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Income is stated net of subsidies granted to users of the charity's services. An estimated value of the subsidies so given is shown by way of note as a deduction from income. 14
EDUCARE M ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2025 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: • Costs of raising funds comprise the costs associated with attracting income and the costs of trading for fundraising purposes • Expenditure on charitable activities includes the costs of providing consultancy services, running retreats and courses and other educational activities undertaken to further the purposes of the charity and their associated support costs. • Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Allocation of support costs Support costs represent indirect charitable expenditure in connection with those functions that assist the work of the charity but do not directly relate to a charitable activity. Support costs include general office costs, depreciation and other costs which do not relate to specific programmes and activities of the charity. Governance costs comprise the costs involving the public accountability of the charity including independent examination costs) and costs in respect to its compliance with regulation and good practice. Support and governance costs have been allocated entirely to expenditure on charitable activities. Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Investments Investments include listed investments shown in the Balance Sheet at market value. Net gains and losses on the Statement of Financial Activities represent realised and unrealised gains on investments. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 15
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. GRANTS AND DONATIONS Donations 2. INVESTMENT INCOME Bank Interest 3. INCOME FROM CHARITABLE ACTIVITIES Consultancy fees Conferences School Improvement Curriculum Development National Retreat fees National School of Formation (NSF) Total 2025 21,006 €21,006 Total 2025 € €3,159 Total 2025 22,176 5,557 20,582 39,887 114,257 £202,459 16 Total 2024 £- Total 2024 €985 Total 2024 23,226 2,918 8,202 34,093 35,285 135,624 £239,348
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 4. EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Charitable activities National School of Formation (NSF) Support Costs Office support, printing, postage Travel and subsistence Insurance Other costs Governance costs (Including Independent Examination fees) Year ended 31 March 2024 Charitable activities Direct costs Consultants' fees and expenses National Retreat National School of Formation (NSF) Conferences Curriculum Development Support Costs Office support, printing, postage Travel and subsistence Insurance Other costs Governance costs (Including Independent Examination fees) 44,800 3,511 200 33,518 122,048 204,077 17,197 2,665 2,444 154 22,460 2,430 £228,967 Unrestricted 34,800 32,805 83,804 257 151,666 5,805 1,718 2,425 164 10,112 2,470 - 8164,248 Restricted : : - - f- Restricted : 8,000 8,000 - €8,000 Total 2025 44,800 3,511 200 33,518 122,048 204,077 17,197 2,665 2,444 154 22,460 2,430 £228,967 Total 2024 f 34,800 32,805 83,804 257 151,666 13,805 1,718 2,425 164 18,112 2,470 £172,248 Total 2024 34,800 257 32,805 83,804 151,666 13,805 1,718 2,425 164 18,112 2,470 £172,248
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 5. NET INCOME/EXPENDITURE FOR THE YEAR This is stated after charging: Independent Examiner's remuneration - Examination - Accountancy services 2025 2024 1,290 £2,430 1,050 1,260 €2,310 The charity does not have any employees; its functions are performed by independent consultants and on a voluntary basis. 6. TRUSTEES' EXPENSES & REMUNERATION AND TRANSACTIONS WITH TRUSTEES During the year, no trustees (2024: none) were reimbursed expenses (2024: Enil). No other payments or transactions occurred with trustees during the year. Sister Judith Russi, a consultant to the charity, provided services for which her religious Order (SSMN) was paid €44,800. 7. TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 8. LIABILITY OF MEMBERS The charity is constituted as a company limited by guarantee and has no share capital. The liability of each member is limited to the sum of f1 per member. 9. INVESTMENTS 2025 2024 Market value at 1 April 2024 Additions Disposals Net gains/(losses) Market value at 31 March 2025 Historical cost at 31 March 106,108 (2,789) £103,319 €95,000 93,706 12,402 £106,108 €95,000 Il investments are held in the United Kingdom and are valued at bid price. The investments are under th nanagement of CCLA Fund Managers 10. DEBTORS 2025 2024 Trade Debtors Prepayments and accrued income 25,083 2,167 €27,250 33,676 2,134 €35,810 18
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 11. CREDITORS: amounts falling due within one year Accrued expenses Deferred income - deposits held for future conferences 2025 29,093 27,988 £57,081 2024 8,393 25,954 £34,347 12. RESTRICTED FUNDS There were no restricted funds brought forward from the prior year or any restricted fund transactions in the year. Prior Year Balance At 1 April 2022 Balance At 31March 2024 Building the Kingdom Fund 8,000 Income f - Expenditure f (8,000) - Building the Kingdom Fund Monies were donated to support the work of the charity in its Building the Kingdom curriculum design project for schools. The project continued its development during the year, to which the restricted fund was fully applied in the 19
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 13. PRIOR YEAR (2024) STATEMENT OF FINANCIAL ACTIVITIES Unrestricted INCOME from Grants and Donations Investment income Charitable activities Total income 239,348 240,333 EXPENDITURE on Charitable activities Total Expenditure Net income/(expenditure) before gains/(losses) Net gains/(losses) on investments Net movement in funds Accumulated Funds Brought forward at start of year Carried forward at end of year investment 164,248 164,248 76,085 12,402 88,487 219,862 £308,349 20 Restricted : 8,000 8,000 (8,000) - (8,000) 8,000 Total 2024 - 985 239,348 240,333 172,248 172,248 68,085 12,402 80,487 227,862 £308,349