Reglster8d number. 3914049 Chaiity number. 1080521 TERESA BALL INTERNATIONAL SOLIDARITY FUND IA Company Llmlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Company Ltmlted by Guarantse CONTENTS Page Reference and Administrthe Detalls Tru8teo8' Report 3-19 Statement of Trustees. R•8pon8lbllltl88 20 Indopondont Auditorf¥ Report on the Flnanclal Ststement• 21-25 Statwnént of Flnanclal Actlvltlos 26 Balance Sheet 27 St8t•m•nt of Cash Flo4 28 Notes to the Flnanclal Ststements 29-47 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Company LlmRed by Guarant¢e) REFERENCE AND ADkqlNISTRATIVE DETAILS Trustees Sister Jane Mc Dcfflell Sister Mary Kamotho Sister Gerakjine Molrtan Sister Barbara Murphy Sister Hellen Oluoch Sister Jen Bromham Sistér Sarèh Dcoson Sister Veroniea Fuhrn8nn (appoin￿ 14 November 20251 Sister Helena Kang {apFointed 14 Novwnber 20251 Sister Esléla GrignolaI8pwnl￿ 14 November 20251 S￿ter Annamana Quinterio lappoinled 14 November 20251 Sister Pratima Pinto lappolnted 14 November 20251 Sister Kathkg8n Myers (reS￿ne￿ 14 N¢)vember 20251 Sister Natalie H￿Ilh0n {wvaned 14 November 20251 Sister CaThnel s￿Id5 IresYJned 14 November 20251 Company reglster number 3914049 Chathy rngis¢•red numb 1080521 Raglstered oflke Lorelo Education Centre Promnce Cent Dunham Road Afftrincham England WA14 4GZ Company ￿¢￿9t•ry Slster Hellen Oluc<* Ind•p•ndent audltor RBK Audrt UK Ltinited Chartered Accounlant$ Statutory Audil Firm Temiini 3 Arf(le Road Sandyford blin 18 Ireland Page 1 TERESA BALL INTERNAIIONAL SOLIDARtrY FUND IA CJntinued their mlssion of servlc8 wlhin a remote and economic￿ty dlsadvanlaged rural communty. Despite chang8S Within the community followng the death of one sister, ministry activrties ￿Main&￿ stab￿. fLKusing on health care oulreath. èducation support. and the manag8menl of Sancts Maria College of Nursing & Midwifery. ThrcMJgh Coordinat￿n, fundraising. and re80urce prowsion, thé sislars $ust&"ned prtsJramme8 that d61w6rad signffic2nt public benefft lo vulnerable thiklren. families, ond yotrth. PrfmJry Ho•fth C*r• and Communlty Support The sisters collaborated wth IcKal volunteers to respond to urgent health fteed8. A mllk nutTrtlon progr8mm8 a8slsled 60 orphaned and vulnerable infants. vthiL9 a c(xnmunty-ba8&J Home Care initiative 8UPPOrt8d 3>50 chrontcally ill dbenls through the wort¢ of 1 S trained caregws. Free medical Iransport enabled 87 patients lo access local hospital care and 48 individuals to ￿1ve S￿laIl$ed treatment at a distant mission hospital. A HwJh Energy Protein Supplement {HEPSI nutrrtion production unit Provhled income for six wid¢)ws and Supplkgd 125 kg ol nutiitsonal supplamants monthty for malnourishad patkgnts. Educatlon and Youth Dw8loprn•nt Educational outreach remained a major publ￿ benefit. The sistws 8UPPOrted more than 45 community schools, providing 58 desks and 20 bkickboards. indireetty tenefiting over 5.000 chlldren in Lukulu and neighbouring Mitele District. Additional inibalives induded scholarship$ and training support for five aspiring teachers, 8 school lunch programme swmng 105 vulnerable s￿)nd8ry Students daily, antj vOcat￿n8[ training 8choL9r8hip8 for 40 unempk)yed youth, equipping them wrth practical skills for sustsinabie INelihoods. S•ncta Marla College of Nur81ng and Mldvlfory Established to expand acces5 to professional education in a remote region, the College continues to transform opportunit￿$ for local youth. The student population reached 140. with 54% receiwng scholarships, including 52 students fvnded through LOret￿managed assistance. During 2025. students promded clinic81 services to over 30,000 patients, wgnificantly increasing a¢w lo healih care for the wider community. The College also Ce￿brated the graduats'on of 37 qualffied nurses, stTengthening the future health workforce in Zambi8. Overall PubliG Bonofit Across heatth. educatftsn. and professhlnal fomation. the sisters, mlnistries in Zambia Lukulu directty supported thousands of beneficiaries, part￿u￿aty vulnerabte children. patients. and impoverished youth. By sustaining grassroots proJrammes and managing the Nursing College. the Loreto Sisters continue to embody the Church's mission of hea￿.ng. education, and hope, bringing tangible and spiritual impact to 8 maryinalizad ￿Tal population. Page 6 TERESA BALL INTERNATIONAL SOLIOARrrY FUNO IA Company Llmtted by Guar4ntsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2￿25 ¢1. South Amorica- Peru During the year ended 31 De¢￿ber 2025, thé sisth. in Peru continued lo seM vulnerable cemmunities through integrated pastoral. edu¢atK)nal, heaith, and scoal programmes across three Strat￿1¢ Ictalions.. Huaycan. Jicamarca. and northem Lima. Rooted in Gospel values and Catholic social teaching, the ministries f¢xused on safeguarding chikiren. strengthening faMil￿s. pr￿noting heatth and e(Iuc8tion. and 8évancing justice, pgace, and ecolog￿1 awareness. The inthatives generated significant public ben&fil. re￿Ing thousands of chikdren, youth. wefflen, and families liwng in marginalried utsn areas. Chlld Prot•cllon. educ•tlon and Communlty Development - m￿YCan Through the Wami Wasi W¢Jmen'8 Dovèbw8nt Cenlre, 88veral programme8 81rengthened 88fe kaming enmronmenls and youth ￿adarShIP. The 'ChildhcoJ wthout Fearf project directty engag&J 97 students, 3 t￿heryj, and go famil￿s, ¥Mth activit￿ replicaltsl among eAO indired student beneficiarfes. Safeguarding nf(lalives Ir8ined 67 teachers 8nd administratots, improving child proteCt￿n systems in local sChO￿s. Nulrilional and communty ￿adershIP prtsarammes rea¢hed 100 part￿Ipants. promoting heathy eating and 8è1f- managoment In communty kitchen8. In addthon. the "Among Friend8" lrtera¢y inilotive $upported 70 prim8ry $ludenls, increasing rggding aChiev￿ent frLYn 38% 10 46%. thile adol88cenl mediators improv•J 80cla emotion81 ski113 frorn lo 909A. Par58h mlnistry at the Chapel of Our Lady of th8 Rosary accompanied approximatety 80 familie3, slrengthenlng faith fomialion. pastoral care, and eAJmmunty organisatiC￿ through $yn¢)Jal p8￿cipat￿n and outreach lo women and vulnerable hou6ehold& Educatlon, Hèalth and Parlsh Outroach-Jicamarca Fe y Alagrfa SchTr)l No. 58 Mary Ward provided holisti¢ education lo 1,116 students, 8eNing around 700 families with the support of 63 teachers and staff. Prcgrammes promoting leadership, environmental ¥lewardship, vocational Skills. and spiritual fomiation Contribut￿ lo the p￿SOnal and acad8rn￿ gThrth of students in 8 highly marginalk8&I area. The "Heotthy Women and Chik4fftn" prolect diredty beneffted 246 children undar stx and 102 wcrfnan. offering nutrrt*Jnal monitoring. anaemia treatment. cancer screening, and heatth education. The initiative strengthened preventive heaith practices ond improwj famity Well￿"r￿. Parish social ministy al Our Lady of Peace distributed monthly food assistsnce lo approximate￿ 80 peopk in need, wfiilo catechetlcal and Ir(urgkal programmes deepened faith lffe ¥wthin the ccfflmunity. Justic•. Peace. and Intor4ongrngational ￿1￿1￿￿- Northern Llma Through Intsr-congreg81ional ministries with ConfererKe of Refigths Peru, the sisters contributed to nati￿al initiatives addressing human IraffKking. ￿￿JiCal juslice. and lay formation. Awareness 8ctivf(ies reached approximately 400 ￿0ndary students, 200 communty members during anli-trafficking campaigns. and 180 partiapants in prayer inrbatives. Ec(4(vJ￿l actions engaged 20 - 30 families in reGycling proj8Cts supportino a chrfdren's hosprtal, while Laudato Si. forums gathered around 100 partiapants per session 8C¥OS5 Latin AmeriGa. F0M￿lI0n programmes for18y eollaboralors attracted 75 partiopants in Syn¢Jdalty tralning. 150 in eitrzenship and human rights workshops, and 23 in culturfr0f-c￿e f0M)at￿n. strengthening shar&J mission within the Church. p￿e7 TERESA BALL INTERNATIONAL SOUDARrtY FUND (A Company Umfted by Guarantee) TrUSTEES' REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Overall Public Benelll Across the three mission areas. the sisters, mti)t8tr589 directty reached over 2,(H)O ¢hildren, ￿th. women, educators, and community members, wth indire¢t teneffts extending to thousands more through schools, parishes. and social programmes. By promoting safeguarding, health prevent￿n, education, Igadership, ond faith fom7atlc￿, the Peru mission c￿ntInueS lo embody the Church's call to just￿, dignty. and compasslonate ccfflpaniment of the most vulnerable. dl. South Asla Provlnce: Nfjpal IDh•ranl With hearts full of gratitude, the Loreto communty in Dharan. Nep81. give8 thanks for the continued 8UPI)ort of th8 T8r8sa 8all Intemalional Solidarity Fund ITBISF), which has $trenglhengJ mlnistri88 of educ8tion, protection, and Soc￿1 tyjlreaeh among vulner8b￿ children. Y(￿ng women, and f8milies. Rcwjled In the charism of Mary Ward and the mission of the Church, these inrtk*ives conlinue lo promote dignity, opportunity, and hope within ecorKxnically disadvantaged ccXTwnuniti￿. Early Chlldhood Educatlon . Montos¥orf Pl•ygroup Tha Earfy Chihlhood Centre provides a safe and nurturing enwronmenl for ¢hildr8n aged 2-5 years whose parents are daily waga eam6rs. In 2025. 16 ehiklren were enrolled in the ne￿Y estsblished Montes80ri programme, wrth 11 children currentty attending after othars IransrtKJned lo fomial schooling. Through a play-W8y laaming approach. chIld￿n deveioF¢d l(wn¢Jational literacy, ¢reativty. independence, and swal skills. ¢onlributing to Ih&r holl81￿ gThAh and long-lenn educational readiness. The CEnt￿ also offer8 SUPgrvi3od care during working hours, supportlng famlles 4th0 otherwise lack 8afe chlhjcare options. Hoslel Programm•- Accèss to High•r Educallon for Young Women The Loreto Hostel o)ntinues to expand educaltyjnal opportuniii8s for young women from remots wllages. In 2025, 10 girts reshled in the hostel while attending a nearby govemmenl col￿e. The prOgraMw￿ prov￿ed accommodalk)n. meals. aeademic support, and skills trainiry in computer literacy and tall￿1ng, enabling students to pursue educatK)n in a safe 6nvironment. Beyond academic formation, the h05tel fostered leadership, responsibility, and strong moral values. empcwering women who would otherw$e face signifunt barriers to hvJher eduG9ti0n. Sukumbasl Outr•ach . Communlty Empowgrmgnt The Sukumbasi project supported 13 Seif-H* Groups through awareness and empowement $essiC￿$ addressing uitical social issu8s such as antptrafficking, child rights. wrmen's rights. prevention of child latr(wr and eaty marriage, and income generakn"on. Skil￿baSed training in tsik)ring and basic compLrter educat￿n promoted eC(￿0M1¢ seif-reliance and d￿rtaI literw anang ￿Uth and community membets. ttjntributing to Sust&na￿e Iiv81ihoods and socid transfoThabon. Page 8 TERESA BALL INTERNATIONAL SOLIDARITY FUND (A Company Llmltod by Guarantee) TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 Tultlon Centres- Educatlonal Support for Vulnerable Chlldren Thr88 tu6tion cenlres opeJated Ihroughoui the year, e&h slaffed by tt4t) teachers, offering slnjdured academic $￿pOrt to children from disadvantsged backgrounds. Daily one-hour study Ses5￿)n$ enab￿d students lo plete hom8WOrt and Strengthen leaming outcomes. while a simple dry maal supported thair nutntional needs. These centres continue ta provide vital edu&8tional aw$tance arKI slabilty for thibjren 8t risk of falling behind academically. Infrastructure Improv•m•nt- 8•fg Lo•rnlng Envlronm•nt The rabulldlng of the ￿und￿ Wall and drainage system sjgnfficantly wnprovad th8 safety and hygien8 of th& Lorelo compound, benefiting 811 programme partlcipants. These infraslrvcture devthpments ensure a secure environment for children. students. and staff. supporting the suslainabilty of the mtssion. Ov8rn11 Publlc Banafft In 2025, the Loreto Dharan misslon dlr&tty Supported ywng chiklren in earfy educatKJn. 10 college students in safe accommodallon. members of 13 communty self-help groups, and nLMnarous thiwren across thre6 luilion cenlres, while indiredly slrenglhening families and thal Commun￿¢s. Through education. 8kills training, and social outreach, the mission contsnues to embody the Church's call lo seNe the pcor. promote just￿. and nurture human dignty. Tha Lor810 communty remain8 deepty gratefvl for TBISPS partrwship, ￿1¢h makes it possible to 8ccomp8ny VUlner￿le communities with compass*)n, faith. and Iransfomialive opportunity. Bangladash - Dhaka and Padrlshlbpur Communltles Wrth gratitude to God and deep 8ppreuation for the continued support of the Teresa Ball Intemalional Solidarity Fund ITBISFI. the Loreto Sisters in Bangkdosh carried foNard their mission of educth'on, pastoral accompaniment. yOLrth forTnation, and healthcare oulreath during 2025. Root￿ in the ch8rism of M8ry W8rd, the sisters seNed thiklren, familw. and vulnerable coMmunrt￿S through ministries that promote dignity, faith forn8tion, and holistic human development il. Dhaka Communlty Educatlon Mlnlstry Three sisters seryed in the Loreto Primary School in Mohakhali, offering holist￿ educ81ion Ihal integrates acadami¢1gaming with values fom1at1c￿. environmentsl awarenes8, and cu￿Ural activf(ies. The school provide8 a safe and nurturing enwronment for thI￿ren in the surrounding urban community, fostering creativty, responsibilty, and a sense of belonging. Although space limitstfv)ns ￿strict expanson beyond the k)wer primary levels. the ministry contlnues to benefit many local families by offering quality loundational education. Page 9 TERESA BALL Ip¥fERNATIONAL SOUDARITY FUND {A Company Limlted by Guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Pastoral Mlnistry Pastoral outreach remains central to the sLsters' mission. Catechetical progr8mme5 SUPPOrted 65 registered children. wilh appr0￿M81elY 25 thildren 8tt8nding ragularty for sacramental preparation and faith formation each week. The sister3 also served parish communities by leading Irturgical music. visi(ing the sick and eldety Holy commUn￿n. and accompanwng families through rn￿nents of celebration and gri81. strengthening spntual lrfe within the Ioc81 Church. Prof•#8lonal Fomiatlon With TBISF 8UPPOrt, (Y)e sister complet&J a 8achelor of Ed￿t￿ IB.Ed.l in Novembar 2025. enhancing the qU811ty of leaching and Strengthening the l￿-terM gJucation*l miss￿n in 8angL9desh. ill. Padrishlbpur Communlty Education Mlnl81ry Two 8lster8 gervad at Sl. AJfred'8 High School ond Cdlege. whkh educata8 1,288 students. Through188dership, teaching, and ¢￿dinatIon foles. the 8iSter8 conlributed lo ￿adeMiC excellence. moral formation, and holi51ic development. Programmos indudèd eurtural events. debatas. sports. counselling 8eNces. and value&based education, benefiting students and th¢ir famil*s across the dhxe8e. Inltlal Forniatlon and Youth Mlnlstry The mission continued to nurture vocalions through acccmpanirr*nt of candidate8 8nd young women dise8mlng religious Irf&. Youth PTogrammes encouraged leadership ￿ participaiw in parish and school aclivrties, helping young people grow in farth and confidèncé. Page10 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Company Llmlted by Guarant￿1 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Pastoral Outr•ach Sisters visiled remote villages. especialty during liturgical seasons, bringing faith fomalion, pastoral care, and Hoty Communion lo the sick and ddety. Workshops conducted in September 2025 supported youth and teachers through fonnation sessh￿S that strength￿ed c4ynmunity ￿agernent and lthJer5hip. Health MSnlstry The Maria Sick Shelter 8nd mobik dinic reached vulnerable patients who W access lo medical sarwces. Through this ministry. the slslérs provided compasS￿n£te Care to the poor and served cc*nmunrtie8 in remote areas where haatthcaré faalrtbes are scare£, beneffting numarous families across the B8ll881 Dio¢%Se. Infrnstructure and Mlsslon Support TBISF a8818tance 8UPFQrted es8enlial tranSporta￿on for ministry, induding long4istsnce travel for di¢xasan meetings and fonnation programmes. Renovalbn works, indudirg painting and roof répalrB of tha convent, improved safety and sustsinabiltty olth¢ rn￿on enMronmenL Ov•rall Publlc Bon•fit Across both Dh8ka and Padri$hibpur in 2025. ts Lrt) Srntws, ministrw dirKtty benefited.. 1,288 students through forynal &Jucation at St. Alfred's Schod and Col*e. 65 calechi8m children Iv+ilh 25 regular partKipantsl through faith fo￿nat￿n prr>3ramme8. Numerous children in Loreto Primary School through foundational education. Patients and families ser￿1 through the Maria Sith Shèlter and Mobile hearth Olrtrexh. Youth and tèach8fS partiopated in fom*t*)n woth¥hcp8 and pari8h advJtle8. Through education. heamhcarn, pastoral ￿re, and forn￿lian. the Banglad8sh mission continues lo extend the Church'8 ministry lo those ￿ the margins, promthng hope. faith. and sustainable development within IcKal communiltes. The Sislers remain deepty grateful for T8ISF's partnership. which en8bles them to continu8 saNing th compassion and dedicatian. Page11 TERESA BALL INTERNATIONAL SOLIDARITh FUND {A Company Limited ty Guarnntoel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 1111. Kolkata. Indla With gralttude to God and Sir￿ere 8ppreaatscm for the conts'nued support of the Teresa Ball Inlemational Solidarity Fund ITBISFI. the Loreto South Asia Province ackno+Jledges the vtial role this 85sislance has played in strengthening the spiritual formation, leadership development. ar￿ apostolic effactivaness of the sisters during 2025. Through prolèssional training. lertianship. sabbaticd renewal, arKI leadership fomation, the sister8 have been better equipped lo seNe thousands of beneficraries across •Jucab"onal, pa51oral, and care ministriès. Profe¥slon•l Trnlnlng and Pastoral Forn)atlon During the year, TBISF support enabled Sisters to d8￿ft their pastoral ar￿ professionJ ¢c¥npetencie&. One Slslér suecessfulty cefflpleled Clinical Pastoral Educat￿n ICPETh Unil 11 at Bukal Lrfe in the Philippines, gaining skills in compassionate listening. accompaniment of the sick, and p8storal care. Thi$ fc*mation slronglhens the prownce'g capacty to respond lo the spintual and emotional needs of indivrdua18 and cL￿MUn￿￿?8. Anothw Si81er. loll¢)wSng Internat￿ana1 forni8tk￿ reffledion urKler the Iherr* 'Women of th• Dawn on thè Threshokl of New 8￿Inning$,. now ccntn'butes lo mtssion Initiati￿ al DMWSC. engaging in progr0mrr￿S that promot8 sockgl awareness, solidarty. arKI prcphetic vthness within the wKler ccrfnrwnity. Contlnulng Fomiatlon, Tertlan8hlp and Sabbatlc•l Renewal Five Slsl8r8 partlcipated in the Tertianship Exposure programme1202￿2025l through the School of the Heart in Dublin. Through relreals. pl￿￿rimages, and ccrtnmunity eyperiences, they experienc*d renewal in the charism of Mary Ward and returned to active ministy ren￿d zeal. Their leadership and serwce now diTay benefft significant numbers of people.. Lucknow School., under the leadershlp of ona Sister as Prtncipal, nearty 2.000 students reco￿ hollstlc 8duc81ion root& in Gospel values. Ranchl Schod: 1,853 students benefit qualty acadamic f0m￿￿on and value-b8sed education. Panlghatta School: approxmatety 632 students are supported through academic and spirflual developmenl. Padrlshlbpur Primary School 18angladeshl: ar￿nd 1.288 8tudontg bengfrt from C￿rdInated educational prcyJrammes and teacher support. Elderly Caro Ministry In KolK7ta: 10 elderty Sisters receNed dedicated care, accompanlment. and pastoral support. Collectively, the renewed leadership of these sister8 ci)ntributes to the edu&itvJn and wellbaing of over 5,700 students, demonstrating a sign¢ficant publ￿ benefft through Ihe province's edu¢*w)nal ministries. Leadership Forniation - UISG Programme for Forniators In 2025, one Sister ¢omp￿t&3 the UISG Inlemation81 Programme for the Preparation of Fomators in Rome. joining participants from 23 countsies and 43 congregations. The programme strengthened skills in accompaniment. safeguarding, intercuAural awareness. and diswnmenl. enabling her lo contribute lo the fomwlion of future Sisters and lo the ongcqw wtslty of tho province. Page 12 TERESA BALL IKfERNATIOIIAL SOUDARITY FUND IA C(¥npany Umlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEIABER 2025 Publlc 8en&fit and Mlsslon Impact The formation opportunities supported by TBISF ha￿ had a direct and mwurable impact on the prwnce's ministries. By strengthening the Spiritual and professh)nal develcyment of th8 slgtèrs. the province has enhanced educational leadership. pa81¢)ral care, and communty S￿¢& that rexh thousands of young people and vulnerable persons. The S￿terS. renthved ccmmitment to mission refiects the Church's call to promotè faith. justice, and holisti¢ human development. The Loreto South Asia Province remain$ dwty grateful for TBISF'S partnership. ￿1¢h Gonlinues 10 8UStain the fomalion of Sisters and éxpand rnini8tries that transfomi lives thrijugh ￿UCation, ccThpa8sionat8 seNic8, and Gospel wrtness. S. Mary Ward Mlsslon Fund Thè Mary Ward Mission Fund, a degignated component of the Teresa Ball Intemalional Solldartty Fund ITBISFI. continues to support the inlernalionJ ministnes of the InstrtLrte of the Blessed VirgSn Mary through largeled charitable conlributlons. During Ihe year ended 31 D8cember 2025. funds were distributed lo sustain mi8sion inftSalives aligned wrth the Church's commltm8nt to 8dLKation, soual outreath. and pastoral accompaniment. Within the Peru Reglon. support was directed to N¥0 key Initiatives serying vulnerable communities in Lima. The 'Kusi W8m)a' Children's Project in HUa￿n pr￿noted Ghihj wellbeing. education. and communrty protectbn, contributing to the development and Safeguarding of thikJren and families living in marginalised urban aroas. The 'Adding Up lo Grow. CcAnmunieati¢)n8 Proied in Lima $IrerWhen￿ social c￿nmunIcatIon and outreach capacty. enabling farth-based programmes and ￿UCat￿)nal Initiatives to re&h wder gudiences and foster community engagement. Thesa projects delivered dear public b￿8fft by supporting thldren, families, and IocAI communili8s through educational opportunities, ￿￿181 ￿areneSS, and pastoral outreach. The Fund continues to operate a8 a mis810n- Support mechanism rather than a general grant-making body, re￿.￿9 primarity on investment income to gustsin rts charitsble aclivilie8. Thiough carefvl Stowardship. the Mary Waril Mission Fund remalns committed lo advancing the Church's mission of juslice, dignty. and holistic human dgvelcyment wthin Ihe Peru Region. Grants, DonaUon#, and Mlnlstry Support The Tere8a Ball International SolKlarity Fund provh4es fmandal a$￿stanCe lo the Regions and Provinces of the Institute in support of their apostolic rn￿8￿)n eharrtable ministries. The Fund's puwse Is lo sustain the Institute's work¥ rather than to functh?n as a general grwrt-maktng b(￿. Fundrabsing Pollcy Al present. the Trustees do nc4 undwtske public fundraising actNit*s. and no fundraising iniliatNes were carri out during the reporting peiiol. Should the Trustees consider fundraising in the fLrtuie. they wll seek appropriate professional guidance to develop suitable pdiues and assess polenlBI costs. The current approach is to sustain the charit￿$ MISS￿ primarily through income generated from inveslmenls rather than through active fundraising campaigns. Page 13 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Ccrfnpany Limlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Our Mission4)riven Investment App￿￿￿ We invest wlh a dual goal. not ￿lY generating financial retums bul also creating an impact on the world around us. We see our investment portfolio as an eylension of our Mission. Alongside adNe ministries, w8 strive to creatè mèaningfijl change through positNe inw investing. Like many ESG {en¥ironmental, scrial and govemarKe) investors, we awd Sectots that conflict with our valuos Ifor ex8mple, weapons, tobacco, alcohol, pomography, gambling and embryonK $tem-ceil research) and 8ppIy additional ESG stsndards to improve the wrtf(4io's overall risk profile. Crucially, ￿ also favour invèstments that aethvety support pwle and the planet, notabty cle8n energy, sustainable forestry and sc¢ial housing, and track reamyorfd resutts, specific lo our portfolio, 6ach year. Ho•dlln• R•suhs for Our Porttollo for 2026 Much low•r carbon foolprlnt th•n th• mark•t: After fadoring in our cathn-rwnoving investments IpartKuLqdy foreslryl, the p￿C410,5 estimated f¢>Jlprinl is 2.212 tonnè8 of C02e {lonnes of gases, including carbon diti￿d•, 8quNalenl to a t¢￿ne of e4rt#)n dI0￿de) Fer year. veTSUS 8,543 tonnes for a typlcal, ESG- reened portfolio of similar $ize. In ¥hort. our hddings help offset a18rge share of emission8 and lea￿ u8 at 26•h of the emissions of a balanced ethieally-screened p￿tAl0 of ¢¥uitbes and kM)nds. Note that the arbon footprint will be laTger than lor 2024. This 18 due to the use of an e4)anded measure of carbon émlssions for all investments. that Invo￿ not just the investment's own carbon omissions, but alBo emi8sion¥ in tis valug chain, induding upstream {suppli8rs} d¢Mn8tream (customers} 8ctivitiè8. Th1$ is considered the gohd standard for carbon emiss￿n$ reP)￿"ng. No fo38114uel ru•prf•s: We fulty divested from fossil fijets in 2017 and continue lo hokl zero exposure to thermal coal. oil. natural gas and uneonventional reserve8 {oil 8ands18halel. This supports the energy transitlon and avolds 'str8ndad as8ef risk li.e. the rtsk that the 858et wll ncl be sellable and thus 'gtrande(I'). Clgan powol produc•d: Our renvwables holdings generated 271 Mwh of elKtricity in 2025, enough to P¢x8r about 73 homa8 for a year. Emi¥¥ions Jvoided: These deaTrp¢y•¥er a￿t$ avoided 52 tonne8 of C02e in 2025. To mak8 that langibte, li 15 the equivalent of.. removing 11 ear8 from lh8 road for a year. 8a¥ing 120 barrels of oil. the annual carbon uptake of 43 acres of pine foresl roughty 6 trips around the worfd avoid8d. Nature protected and cart)on stored: Our ftye81ry investrrents are man*&J lo Produ￿ ¥u$tsinabl? timber. sequester carbon. and protect Sxal b1¢)Jr￿rnty and natural re8ources. Page 14 TERESA BALL IPITERNATIONAL SOUDARITY FUND {A Company Llmlted by Guarantsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 ofthe lorutryhThfotmenr5 In the io ￿1*￿ any nwloreJtprnpvll¢s ot ihe tset to and fflolnroln ei0d1ve￿lty Pm¢Kh In Ihwr mona9¢ffl•nr tp enhance diverslty ty plannlng Holroge behvefn tures y51ng tOr￿d0￿ so that ihe blodI￿ty f•atur•s bdngonisatK)n. Stsying out of fo88ikfuel r88erves is not just an ethical stance.. k also avolds the risk that 8ome re88rve8 may never be bumad as the worfd tightens dimate pcAicy, a prudent step for long-tem investors. Beyond car￿, our foresty managers opwate lo recognised 8UStainabl+timber standards, wlth explicit goal810 protect bicrfliversity and kcal ecosystems while storing &9rt4)n over the k)ng lemi. P•opl• and ¢ommunitias Jobs matter because regular work is one of the most ￿liable ways to lrft households out of povety. By directing capltsl lo businesses and funds with strong employment effecls. partlculaty for women and in r&Jions where jobs are most needed, our p)rtfolio outperforms tho standard tharity portFolio on direct job creation. While large. m*ure ¢rynpanies ¢re*e jobs onty 9￿jUa1ty, our de¥9[￿Ing-rnark0l al￿at1￿5 a￿PIfy the impac*. Closer to home, IreLand's housing swe is acute. By bad(ing the New Haven Sw'ol Housing Fund. we help in￿aSe the supply of affordable, energy-thierrt homes for th08e most at risk of h¢ynelessness, Cc￿npleMenting government and charity efforts. Page 15 TERESA BALL INTERNATIONAL SOUDARITY FUND {A Company Limtted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 How we declde wh¢r• lo Inv•8t We keep th8 background Simp￿.. our startiryJ point is Vdlutraligned exdusions. folbwed by a p0s￿v&1mp* tilL We l¢Jok fo¥ investments that cle81ty improve well-being (for examp￿. housing and Ic&sl and environm8nt81 outcomes (for exampk, dean energy and hearthy lo￿ts). While our approach 18 con¥i$lenl with the UN Sustainable Devdopment Goal¥, we fccus on prart￿l. megsur¥b￿ ￿tpUt8 rather th￿ ￿ngthY fram8works. Looklng ahead We plan lo keep.. Growing dean*nergy capaety lo r8lSe 8nnu81 Mwh ganerated and lonnes of C02e avoided. Expanding sustainable loreslry that stores carbon and protecls biodiver5rty. Deepening 80cial housing exposure in Irdand through $pecialist thjr￿s that éeliver highqualty, affordabl homes. MaintainirrfJ fossikfuel di￿stment and our strong éthttl Scrnen. In ¢onGlusion, in 2025 we delfvered a meaningfvl enwronmental and %￿al contribLrtion alongside prudent investment management, with lower portfol￿ emissions. dean power produced. natur8 protected. jobs cre81ed, and targeted support for Iho¥e rn￿1 tn need of hw¥iTra. Thi$ is p09itive impact in practice for Our Portfolio. 6. FINANCIAL REVIEW a. Golng Conc•m Thé Tru8laes affimi that the Charity has sufficient ￿ourCeS lo continue operations. Flnanual Statements have been prepared urKler the gthng concern assumptkn. wlth further *Jetails in the Accounting Policie8. b. Flnanclal Pirforniant• In 2025, totsl income was £5.551.739 {2024.. £41.7921. Income SOLtrees Indud&J Mary Ward Mission Funding of £25,563 12024.. £26,117) TBISF Mission Funding £5,518.669 (2024.. Nil) and speclfic projKI funding of £6,519 12024". £14.2211. Investment incom8 totall&J £98812024.. £1,454}. Total expenditure way £2,384,52812024.. £323,575). all￿8￿j as foll￿￿.. International Provin￿ and Prciects.. £2,294,867 Mary Ward Mission Fund.. £24,35S Govemance Costs.. £4,334 Fundr8i3ing and Investment Man48￿nt. £60.971 The net Su￿[US for 2025 was £3,167.211 12024. Defiot £281.783). before o)nsthring inveslment ggins of £1,161.748 12024: gains of £1,945.2321 and foreun exchange gains of £934,067 {2024.. k)sse5 of £808,585). Consequgnty, the net increase in fvnds for 2025 was £5.263.02612024.' £856.8641. Page16 TERESA BALL INTERNATIONAL SOLIDARITY FUND (A Company Limited by Guar4nteg) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 310ECEM8ER 2025 d. Rg$0rygs Pollcy and Flnance P06tt1on The Charity manages funds to PrO￿de grth￿h and inc(me wthile m81n1￿nIng a dNexsified risk profile. The total reserve5 as of December 31, 2025, were £23,531.687. ailr￿ated a$ follows.. £19,973,684 in the TBISF Main Investment Fund £31.662 in the Re8lriLXed Mary Ward Mission Fund £3,520,054 in the TBISF Mission Fund £6,287 in the Develcsvnenl Fund The Charity held no f￿¢d a¥sets and malntsined tax*xempt 81alu8 through the Charrty Commi8sion. The Trustees plan to sustain current in￿atr¥8$ while opts'mr2ing assot m¥nagemonl lo gener*& income. Over the xt fv40 lo five year3, the Ch8nty wll eontinuo Supporting the Instrtute of the B￿d Virgin Mary's glob81 mission, partkulatly in dovdoping regions. 6. Flx•d As8èt# Thè Charity held no fixed a88*8 duiing Ihe y83r. f. Tax statu• The Charity has exempt status thrcwgh its registration vmh the Charity Ccffimission. Page 17 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 7. GOVERNANCE AND MANAGEMENT . Constttutlon and Trusts¢ Appolntmonts This Charity is govemwj by its M8morarKlum and Articles of Asscrtiath)n12000, 88 amendéd in 20121. Tha Board of Trustees, responsib￿ for the governance and strategic dir￿lA)n of the Charity, cwprise8 members of th8 Inslrtute Council, the Institute Leader. and apwnted indMLluals. ensuring th81 at ￿ast fity per cont cf Trustees are members of th6 Instrtut6. Trustees ordinarity serve for a peric*J of up to nine ye8r8. Structured acrcss thre year terms. DurirvJ 2025, following the canonical merger be*n the Instrtute of the Blessed Virgin Mary (IBVM) and the Congregatio Jesu ICJI on 4 November 2025, an Extraordinary General Meeting held on 14 November 2025 confimied Ihg appoinlmenl of a n•vty Constituted body of DireCto￿￿nJslees in accordance wrth the governance arr8ngements of the unified Institute. This tTansthon rel1&* tha evdwrwJ struduio of th8 Charity while maintaining continuity of mission and stewardship. In addition, the In81itut8 Tr6asur8r 4)pointed in 2024 continued to sem throughout the year, and cngoing govemance fomwI￿n has continueA to be prowded to all Trustees to support effective oversighL b. DoGhlon4aaking and Overnlght The In81ilute is organi8éd into slx Provinces and four Regions. each guidgJ by l¢xal 18adership teams. Tho Trustees retain overall respOns￿lIty for the m8nag6m8nl of the Fund end exer¢ise oversight of financial stewardship and strategic planning. Key d￿lSIOnS are takèn at the Annual General Meeting. supporte¢Y by r4ular consultations and govemance disujssicffls throughout the year. The Charity Secretary Suppo￿ the implementstbn of Bo8r(I deasions and maintains liaison wfth prLth8ional advl8er8 to W18ur8 compllance with regub81ory and govemance requirements. c. Risk Man•gem•nt The Trustees undertake an annual a88e8sment proce88 to identify and addres$ areas of potenlkgl challenga. The pdncipal risk8 coris￿ered indude.. Flnanclal Rlsks: safeguarding bng-lemi sustanabillty and maitsining prudent investment strategies. Operatlonal R18k8: oversight of in￿$tr￿nt management. fund dhtribvtion. cyber¥Kuiity. and the impact of inflalM. Compllancè Rlsks: strenglhening govemar* thr(￿gh &Jvisory engagement aNI regular rev￿￿. Exl8mal Rlsk8: rMnrtC￿ng gecpolitical devebwrnnts and ￿VIng raguLqlory environments. The Risk Register, most recenty approv&1 on 18 February 2025, continues lo guhde the Injstegs in responsible and pr￿1ve govemonc Page 18 TERESA BALL INTERNATIONAL SOuDARl￿ FUND {A Company Llmlted by Guarnnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 d. Disclosure of Infomiatlon to thè auditor Each Trustee wha is in office at the time of approving this trustees, report h85 conffimied that. lo the best of their knowt8dge'. There is no relevant audit infcmlion of which the Charity's auditor is urthvare. They have iaen all necessary steps as a trustee lo ensure they are aware of any relevant audit infornalion and that the charity's auditor Is also Infomw of ￿ch informatK)n. •. Trustees. ReJponslbllltlo9 The Trustees ensure that the Charity operate$ in accordance wth UK accounting standards and the Charities SORP. They maintsin accurate accounting records, safeguard the assels of the Charty, and implement appfopriat8 m8asur8S to prevent and detect fraud and irregulanlies. Ea¢h TNsts8 confirms awar&ne8s of matters relevanl lo the audit process. f. Ac¢ountlng Rocord8 The Trustees ackk￿edge their regponsibilthes und8rth8 Statement of Recomm8nded Pr&tu 'Accounling arKI Reporbng by Charthes, ISORPI and ￿Main committed lo maintaining proper book$ and records. The a¢￿untIng records of the Charity are retained a125 Rathfamam W¢))d, Rathfarnam, Dublin 14. g. Post Balanco Shggt Events There h8ve been no svJnificanl everts affecting Compww slrte the year end that requlre adjustment to the flnancial ststements. Ind•p•ndent *uditor The independent auditor, RBK Audil UK Limited. Chartered Actsjuntsnts and R4lslered Audit Flm have indicated Iheir willingness lo continu8 in office. Approved by order of the members of the board ofTNstees and signed on tr￿r behalf ty. Slster Veronlca Fuhrniann Trustèe Sister Est8la Grignola Trustee Dale.. 2 G lo£ Izo2G P8ge19 TERESA BALL INTERNATIONAL SOUDARITY FUND {A Company Limrted ty Guarantee STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2025 The TTUSte8s (￿0 are also Ihe Directors of the c￿npanY for the purposes of ccvnpany lawl are responsib￿ for preparing the TnJslees' Report and the financkql statements in accordance wth applicabl8 law and United Kingdom Accounting Standards (Unrted Kingd¢Jn Gener81ty Ac¢*J Acownting Practtil. Company Iw requires the Trustees lo prepare financAal statements for e￿h financial year. Undar company law, the Trustees musl rol approve the financial $tat6mènts un￿$$ they are Satisf￿ that Ihfjy give a true and fair view of the stsle of affairs of the C(4npany and of its incoming resourtss and application of resources, including its Ir￿Orne and expanditura. forthal penod. In preparing these financial Staterrents, the Trustees are required to.. 8e*l sulta￿e a¢￿untIng policies and then appty them con8i$lently, observe the methods and pnnc1p￿s of the Ch8rities SORP IFRS 1021., makè judgements and accounting estimates that a￿ reasonable and prud6nt'. 81ote whether 8pplic8ble UK Acc(wnting Standards IFRS 1021 havè folhwAd. subject to any malèrlal departures disckxed and explained in the finan￿al statomenls.. prepafe the finanaal slalem8nts on the going concern basis unless rt Is inappreprfate to presume that the Company wlll Con￿nUe in bu31ness. The Trustees are reSP)n￿ble for keeping ad¥uate accA>unting reLords that are SLrfficbent lo show and explain tho Company's transacbons and disdose ¥￿h reasonab￿ a¢xuracy at any lime the financial position of the Company and enab￿ them lo ensure thal the financkql Statements Mmpiy ￿th the Comp8ni8s Act 2006. They are also resp)nsible for safeguarding the assets of the Company and hfjnc8 for taking reascfiablo steps for the prevgnlion and detection cl ftaud othw ryularili88. Approved by order of the member8 cltha Board of Trustees and signed on its behaff by.. Slstor Veronlca Fuhnnann Tnjstee Sistw Estel Trustee Date.. 2GiotrIZO2G Page20 TERESA BALL IKfERNATIOP4AL SOLIDARifi FUND (A Company LlmRed by Guarantee INDepeNDENT AUDITOR'S REPORT TO THE MEM8ERS OF TERESA BALL INTERNATIONAL SOUDARifi FUND Oplnion We have 8udttel the Flnancial Statements of Teres8 Ball Intemational Solidarity Fund (Ihe'charilsble compan for the year ended 31 December 2025 %thlch comprise the Statement of Financial Adivilies. the Balance Sheet, the Statement of Cash Flows and the rel*ed Th￿s, including a Summary of ￿n￿¢an1 accounting policie8. The financial reporting frwnewth that has been applied in their preparatlon is applieabl8 law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Re￿tIng Standard applicable in the UK 8nd Republ￿ of IreLand' {United Kingd¢)m Generally Accepted Accounting Practs'c81 as modrfied by the Statan** of Rétunmended Prac*￿ 'A¢cwnting and Reporting by Charitie8" effective 1 January 2019. In our opinion thè Flnanual StatetrThnl8'. gwe a true and fair vw d the slate of the charitable companls affairs as at 31 Decemb8r 2025 and of Its incoming rèsouree$ and aFPItcat￿ of resources. induding its Income and exp8nditure for the year then ended., have been property prepared In accordan￿ with Unit&J ￿ngd¢ffi Generally Acc8pl8d Acwnllng Practice." and have been prepared in accordance with tha requirèrrwts of the cryn￿$ Act 2CQ6. Bagls for oplnion We conducted our a￿dit in accordance ¥￿th IntemalKrynal Standards on Audrting (UK) IISAS {UKII and appl￿ble law. Our responslbllftles under those standards are furthw dascribed in the Audrtorf$ responsibilrties for the audit of the Financlal Statements sedion of our report. We are independent of the charitable company in acLordanca with the ethical requirwnenls that are relevant lo our audit of the Financk91 Stslemenls Sn the Unlled Klngdom. including the Finanaal Reporting Ccyjncil's Eth￿￿ Standa￿. and we have fUffill￿ our other ethical responsibilities in accordanco wth these requirements. We bdieve that the audrt ewdencE we have oblain&J is sufficient anLI appropriate to provide 8 basis for our Qpinion. Concluslons relatlng to golng concern In audrting th6 flnantyal statements. we have concludad that the Trustees, use of the going e4)nwn basis of accounting in the preparat￿n of the financial st8twnents is appropriate. Ba88d on the work we have perfofmeh, we hav8 rK>t identff*d any material U￿ertaintIeS relating to events ar conditions that, Individual￿ or collèctivety, may cast significant doubt on tha charrtable compan*s ability lo continue as a golng con¢em for a pericKI of at least months frcvn vthen the financial stalwnenls are aulhorised for issue. Our resFonsibilit￿B arKI the responsib￿lt*S of the Trustéès resp￿1 to going Mncem are described in the rdevant sections ol this rep) Page 21 TERESA BALL INTERNATIONAL SOUDARITY FUND {A Company Umlted ty Guar4nt••l INDEPENDEKf AUDrroR'S REPORT TO THE MEMBERS OF TERESA BALL INTERNATIONAL SOUDARiff FUND (CONTINUED) Oth8r Infornia￿On The Trustees are responsib￿ for the other infomalion. The other infomation comprises the infomialhjn in¢luded in the Annu81 report. other than the finan¢wl statements and our Audrtorfs report Iheraon. Our opinion on the financial stslements does nL* cover the Lther infom)ation and we do not express any fomi of assurance conclusion thereon. In connection wth our audit of the financial statements. our responsibilty 15 to read the other infomialion and. in doing so, consKler %thether the other Informat￿ K8 malerialty inconsistent wrth the finan￿al slalements or our kn¢)wFedge obtsined in the audrt or otherwise 8ppears to be malerialty misstated. If w8 Idenlfy such material IrKonslslencAes or apparent material misstatements, we are requir&J to detemiine whether there Is a malorial miBslatemenl in the financial statements or a material mtsstslement of the other infonnalic)n. If, based on th work we have performed, we conclude that there 1$ a material miBstatamenl of this athar Irrformat*)n, we are required lo ￿port that fact. We have nothing to report in Ihis rwrd. Oplnlon on othèr mattarn pre8crlbod by th• CompanlM Act 2006 In our opinion, ba$ad on the woth undertaken in the course of the audtr. the information given in the Trustees. Report for the finow81 year for whlth the FInan￿81 Statements are prepared is consislenl wrth the Finanual Ststemonts. the Trustees, Rewrt has been prepared In acwdance with applKable legal reqUIr￿n(s. Mattern on whlch w• Ire requir•d to r•port by •xcoptlon In the light of our kn￿edge and understsndw)g of the charitable company and it8 an￿rOnment d>tained in the cour80 of the al￿rt, we have not identffied material MI￿￿tements in the Trustees. Report. We have nothing to report in respect of the folkm.ng matters in relation to wthkh the Companlgs Ad 20C6 requires us to report to you if. in our oplnion- adequate accountiThJ records havè nol b6èn kept. or r8tum8 adaquate for our audit have not been received from branchas not visried by us.. or certain disclosures of Trustees, reMU￿rat￿)ft $p¢afi￿ by a￿ not made: or we have not rec￿Ve￿ all the informatson and explanations wuire for cyJr audit., or the Trustees were not entitlejj to prepare the finanu81 slalements in accordance with the sm811 Companies regime and take advantage of the small companies, exemptions in prepwing the Trustees, Report and from the requirefflent lo prepare a Straiegtc Repo Re8pon81bllltlos of Trusteos As explained fvlly in the Slalement of Trustees, ResponStsil￿es, the Trustees (who are also the Directors of the charitabk Company for the purF*)ses of company law) 8re reSptsnsib￿ for the p￿parat￿)n of the Financial ststements and for being s8lisfied Ihat they give a true and fair Mew, and for such intemal control as the Trustees delefmine is necessary to enable the preparation of Financi81 Ststements that are free from material misstatement, whether due to fraud or error. In preparing the Finarrial Statements. the Tfustees are responsible for assessing the Charitable Compan¥s ability to continue as a going ¢one*m, disclosing. as applicabte. matters related lo g(xng con￿rn and using the going COn￿M basis of accounting unles5 the Trustees either intend lo IK4uid*8 th& Chantable Company or to ¢aase Operat￿8, or have no realisbc aftemative but to do so. P4e 22 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Company Umited by Guarantee} INDEPENDENT AUDrroR'S REPORT TO THE ME•A8ERS OF TERESA BALL INTERNATIONAL SOUDARITY FUND Icop¥llNVEDI Audttorfs responsibilities for the audrt of the financial $tat•ments Our objectNes are to obiain re8sonable assur8nce about whethw the Financial Statements as a whole are free from material misstatement whelhef due lo fraud or e￿tsr. and lo issue an Audil0¢6 Report that includ8s our opinton. Reas¢)nable assurance is a high of assurance, but is not a guarantee that an audit conducted in 8ecordance wrth ISA$ IUK) will aKvar4 det8Ct a material misstatement ￿en it 8XlSts. Misstalemgnts can orise from fraud or effor and are cOnS￿ered material if, indiwdually c¢ in the aggwate, they couid reasonabty be expected to influence the economic dea'sws of uws taken on the b8¥i¥ ofthese Fin￿¢￿81 Statements. Irregularities. Induding fraud. are instsntss of nonthcomplran¢e wilh laws and regulalKJns. Wè dasign procedur88 in line wf(h our resp)nsibilities, oullineil at¥)ve, to delect m8terial misststements in respect of irregularities, including fraud. The exient to which our prccedures are capable of detecting irregul8rits'es, induding fraud is detailed bel(>w. We *Jentrfy and ass988 the risks of material misstaterr*nl of the fina￿181 slalerronts, vthother dLbg to fraud or error, and then design and perfomi audit prcKedures responsve to thr￿ risk8, tr￿udIng c**taining aL>Jil ewdence that is sUffiC￿nt and appfopriale to prowde the basis for our opinion. In klantty'ng and asse8slng d8k# of Mate[￿ MbBSt#tem￿1 in respect to irwularltb$, Indudlng fraud and nonompliance ￿th Iws and regulations, ￿ considered the followng.. the naluffj ofthe industy and sector, conlrol envimnmenl and business perfomance,. the Chartys own assessment of the risks thal irregulaFities may cKcur either as a result of fraud or ewor., rasutts of our anquires of management and other key pef80n8 about their th¥n 1dentrf￿I1on and 888e88ment of the risks of irregularities any matters we ￿ent￿l￿d having cbtained aNJ revivwed Charitys dwJmentalion of their policies and procedures relating to.. idantifying, 8valualirMJ and c1ynp￿'r￿J with and regulats'ons and whether they wer8 awar8 of ￿Y instances of non<¢Jnplkqnce'. and detecting and responding to Ihe risks of fraLKI and whether they hamry knrNl&Jge of any actual, suspected or alleged fraud.. and th8 intemal contrds established to mitig*e ri8ks ol fraud or non-C(ynpliance vthh laws and regulations., the matters discussed among the audit engagement team regarding how and where fraud might cKcur in the financial statements and any Potent￿ indicators of fraud. As a resuft of these proc&Jures. we considered the opportunitw and incentrves that may exist wthin the organisation for fraud and identifi8d the gr8at8St potential forfraud in the are8s in wh￿h managament is required lo exercise signfficant judgemenl. In common with all audtts under ISAS {UKI we are also iequired lo perform procedures to respond lo the risk of manag￿￿nI override. We also an understanding of the legal 8nd regulaw that the Chanty operate8 In. frcu8ing on provlsSons of those laws and regulations ttst had a direct effect on the delerrninatK*n of materlal amounts and disGlgsures in the finanrjal statements. In a¢Jdition, we considered proMsk)ns of other laws and wulaticns Ihal do not have a direct effed on tha financial statements but Complian￿ wrth which be fundamental lo the Charity's ability lo operate or lo avoid material p￿aKy. These induded the eompètMk)n and ant￿bribery L*vs. data protection. employment, environmentsl and h681th and s8f6ty iegulations. Page 23 TERESA BALL INTERNATIONAL SOUDARifi FUND IA Company Umited by Guarantsel INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TERESA BALL INTERNATIONAL SOUDARITY FUND (CONTINUED) Audlt R•sponse to Rlek Identlfl•d Our pr￿ed￿re¥ lo respoThJ to risks #Yentified indud&J the folky4Mr¥J: remewing the finanoal statement dis£losures and testing lo supporting documentation lo assess compliance th provisions of rdevant ￿ and reguLqlions described as hawng a direct effect on the finanaal statements., enquiring of man4ement and extem81 legal eounsel conceming actual and pot8n1181 lrtigalion and claims., perfomiing analyivl and subslantNe pre¢&lures to idenlfy any unus[￿1 or unexpected relationships that may indicate risks of material misstalemenl due lo fraud., reading minut88 of meeting$ of those ch8rged wilh 9ov8mance', addressing the risk ol fraud through management override of conlroLs, lesling th8 appropriateness of ioumal anlri88 and alher v*ljustmenls, assessing whether the judg*r*nts m&Je in making accounting estimates are indicative of p)lential bios. and evaluating the business rationale of any significant Iw$xtion8 that are unusual or outside the normal Gourse af business." We also communicated relevant idenlffied18ws and regulatlons and potential frgud risks to 811 engagemènt team member¥ who remained alert to any indicalofs of fraud or non-conylianca with laws and regulations throughout th• aud A8 part of an audit in accordance with ISAS (UK), w8 trxercis8 profa881onal judgemwt and maintsin professional 8c8plicism throughout the audrt. We 8lso'. Idenllfy and a8888S the risk8 of material mi3¥tolement of the Finarrial Statements, whéthér due lo fraud or error. design and perfomi 8udit prc*edures responsNe to those risk8. and obtain audri ev￿en¢e that Is sufficient and appropnate to pro￿de a basi8 for our ¢)pinlon. The risk of not detecting a material misststement resurting from fraud is higher than for one resuthng from error, as fraud may Involv8 collusion, forgfjry, intentional omiss￿8, misrepresentations. or the override of intemal control. Obtain an understsndirvJ of inlem•l control rdev8nt to the audrt in order to dasign audit procedures that are appropriate in the orcumstances. but not lor the purpo8a of axpressing an Opin￿ of the effectiveness of the Chartsble Compan¥s intemal e4Mlrol. Evaluate the apprOPr￿ten88S of accounb.ng pJlirAes used and the rea$￿abIan688 of accounting estimates and relalgd di¥clo¥uw made by the Tru51ees. Conclude on the apprcpriateness of the TnJstees' use of the going concem basis of accounting and, based ￿ the audit evidence obtsinad. whether a material uncertainty e￿SIS related lo events or condrtions that may cast signrficanl d¢JJbt on the Charitable Companl8 ability to continue as a going concem. If we conclude that 8 material uncertainty exists. we are required to draw attention In our Auditorfs Report lo the related discbsures in the Finan¢k91 Ststements or. rf such disclosures are inadequate, to modify our opinion. Our condusions are based on the audit evidence oblainod up to the dale of our Auditorfs Report. However. fvlura events or conditions m8y cause the charitable company lo cease to continue gs o going Evaluate d)e overall presentstic￿, stnjdura eontent of the Financial Statements. induding th& disclosures, 8nd whether the Finwcid St*ements represent the undedw'ng tra￿actIOnS and events in a manner that achieves fair p￿ntation. We commun¢cate wth those charg&J with govemance rogarding. among other matters, the planned scop8 and liming of the audit and signrfic4nt audrt findings, including any S￿n￿Kant def￿enC￿S in intemal control that we identty during our audrt. Page 24 TERESA BALL IKTERNATIONAL SOLIDARITY FUND {A Crynpany Llmlted by Guarant￿) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TERESA BALL INTERNATIONAL SOUDARrrY FUND {coiifiNueD) The purpose of our audit worf( and to whom we owe our rn8ponsibiliti¢s Th1$ report is made solely lo the Cc4npanl$ Tnjslees as a bctyyy in &￿rdance wth Ch8Pter 3 of Part 16 of the Companies Act 20C6. Our audit wotk has been undertaken so that ￿ might ÉL*6 to th6 Charitable Comp8nY$ Trustees those rnatters that we are required lo stsle to them in the auditorfs report and for other purpose. To the fulbsl extent pemirtted by Lqw, we do not accept or assume resFonsibility lo anyone other than the Charitabla Company or the Charilable Companls Trustees as a body for audit wort, for this rewrt. or for lh8 cyinlons we have forn￿. L_ kJL Ronan Kllbane Isenior Ststulory Audltorl for and on behaN of RBK Audlt UK Llmlted Chartered Accountsnls and SLitulory Audit Fimi Tamini 3 Arkle Road Sandyford Oublin 18 Ireland Date. 2710512026 Page 25 TERESA BALL Ip¥fERNATIONAL SOUOARITY FUND {A Ccmnpany Limlted by Guarantee) STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2025 Rostrfcted Unrnstrkted funds funds 2026 2025 Total funds 2025 Total funds 2024 Note Income from.. Project eonlributions Invè*manl Income Other income 6,519 6,619 14,221 1.454 26.117 5,518,669 5.544,232 Total Income 25,$63 5,526,170 ,551,739 4Y,792 Expendlture on: Charitable actNill88 Raising Funds 2.299.201 60.971 2,323,667 60,971 265.4SXI 58,085 Tot•1 •xpond￿urn 2,360,172 2.384.S28 323,575 gain8 ￿ invÉ8tm¢nts Nat movemfjnt In funds b8loro other racognh•d g•lnsllloss••l 11 1.161.748 1,161,748 1.945.232 1,207 4,327,752 4,32&969 1,683,449 Other Mcogn18•d galnel(lossHI". Forelgn Currency galnsl hxae8 11 934.067 (806,585) Nat movemont In fundB 1.207 6.261,819 5,263,028 856.864 Roconclllatlon of funds: Total funds brought loThvanl Net movement in funds {s8e 14 30A55 1,207 18.238.206 S,261,819 18,268,881 5.263,026 17,411, 797 856,864 Tolal funds at 31 D•c•mber 14 31,662 23.500,025 23.531.687 18,268,661 The St*ement of Finanual A¢AiwI￿ indLMJes gains and k)sses r8coJniwl in the year. The ndgs on pages 29 10 47 fomi part of these financial statements. Page 26 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Cc¥npany Umlted by Guardnteel BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Flxed asséts Investrnants 11 19.804.805 17,989.409 19.804.805 17,989,4Qa Cuffent as$gts Debtors Cash at bank and in hand 12 17 367 3,745,765 16.0&5 282,007 3,746,132 298,092 Credllors.. amounts fdling due wthin one 13 (19.2501 f18,840) Nèt current assots 3,726,882 279,252 Totsl net amets 23,531,687 18,268,661 Charfty fund8 Rèslrictod Mary Ward Fund Unre81rlcted Inve81ments and devekwnent8 fur￿$ 14 31,662 30,455 14 23,600,025 18,238.206 Total funds 23,S31,687 18,268,661 The financl81 ststements were approved aThJ aLrthcfft&ed ts issue by the Trustees and signed on their behaw by. Sistor Veronica FUhrn￿nn Trustee Slster Estela Tntstee Dale.. 26 IcKS- 12£JL Page 27 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Company Umlted by Guarantee} STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OECEMBER 2025 2026 2024 Cash flov4S from operatlng actlvlt16* Nel cash Pro￿d￿j byl{u8ad inl operating 16 3.182,351 (298, 757) Cash flows from Invmtsng actlvltles D￿dends, Inleiesls and rents frc4n investments Incroase in investment deposits arislng from bank tran6fe 1.454 220,982 2BOA19 Nat cash provldod by Snvestlng actlvltios 281A07 222,436 C￿h Ilow4 Ilnanclng acthiftl•8 Net c￿h provld•d by flnanclng aclmtles Chang• In cuh and cash •qulvalents In the year Cash and cash equivalents al the beginning of the 3,483,758 282,007 176.3211 358,328 17 Cash and ca•h equlvalents at the 8t￿ of the year 17 3,745,765 282,007 Th8 not68 on p8g8s 29 to 47 fcffli part of Ihase flnandal Statements Page 28 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Company Limited by GU￿rn￿t￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 G•neral Infornmtlon The following pc4iaes have been appl￿ con￿Stenty in dealing wth items which are conside￿d material lo the financial stat￿}ents. The financval slatemenls have been prepared in £GBP Sterling. Accountlng polbcl•g 11 Basls of preparntlon of flnanclal statarnerbts The finanual slalements have been prepared on a g￿￿0 coneem basi8 and under the historical cost convention with items racognised at Cost or Iransaclion value unless olhew8e stated in the relevant notes lo these a¢counls. The financtal statements have been prepared in 8c£ordan￿ whh Acmunling and Reporting by CharriwJ'. Statement of Recommend&J Practice applicable lo chanties preparing Iheir accounls in 8c£ordance WTth the Fin8nch31 Reporting Standartl applicable in the UK IFRS 1021 {effectNe 1 January 20191- ICharit*s SORP IFRS 1021). They also compty with the reporting requir8rnents of the Companies Act 2006 and Charities Act 2011. Teresa Ball Intemational SolKl8nfy Fund mgels the definition of a public benefrt enlty undgr FRS 102. Assets and liabilthes are inthally recL)Jnised at h¢stoncal cost or transaction va￿e unless otheM8e 8t8ted in the relevant acC￿nting poly. 12 Company status The CÉynpany is a Company Limited by Guarantee incory)orated in England within the UK. The registered address is provided in Ihe Charitable Companls infomation on page 1. The members of the Company are the Trustees named on page 1. In the event ol the Company bèing wvjnd up, the liability in resF*Gt of the guaTwrtee is limit￿ to £10 pw member of the Company. IA Golng conc•rn After making appropriate enquirles, the Trustees have a reagonable expectation that the Ccmp8ny has adéquale raSc￿r￿S to eontinu6 in operational e￿stance for the for8$￿abl6 future. The TnJsl8es have prepared cashflow projedions and budgets ￿lch show that the Company wll have sufficient resources to cperate for a ￿ric#Y of not tess than tsvelve months from the date of approval of th8 finana81 statements. For this re850n they continue to adopt ltte goiThJ concem ba818 in preparing tha financi81 slalernents. Page 29 TERESA BALL INTERNATIONAL SOUDARITY FUND {A Company knmitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accourttlng pollcles {contlnued) 2.4 Fund aG¢ountlng General fvnds are unrastrKaed fvnds are avwlable for use at the disudion of the Trustee8 in furtherance of the general cl)pdives of the Company and vhbich have not been desvjnaled for Ot￿r purpow. Designated lunds comprise unrestricted funds that have b86n sèl aside by the Trustees for partlcular purposes. The am and use of each de￿gnated fund is sel out in the note8 to the financial statements. Restricted funds are funds ¥thich are to be used in acctydane£ %Mth specffic restrictions impoyed by donors or wh￿h have b88n raised by the Company for partKular purposes. The costs of raising and administering suth ffiJnd¥ are charged 4ainsl the specffic fund. The aim and use of each restricted ftjnd 18 set out in the notes to the financial statwnents. Investment in¢(yne, gains and bsses are alk￿￿￿ to the apprcpriatè fund. The Mary Ward Miwon Fund ec￿1$ts of IntsJne recew&d from a perpetual ¢harftabla fund. According lo sel criteria the annual income re¢eiv¢d is assignad to devek)p and strengthen thos8 ministries of the Inlemalional Institute which have limf(eil access lo n&ess8ry resources, or lo assist new In8thutè Projects lo baccAr* self4upporb'ng. Onty ministries for whith the Insif(ute Is responsible or any ministry in wthich on In￿ltUte member18 dlreclty and ￿[ranIty Invdved. may be baneficlarfe6 of the fund. Page 30 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Comp*ny Limitod by Guarnnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202S Accounting policies Icontlnu•dl 2.5 Income Income from donation4 province ￿nIn￿￿j￿0ns and Prqact ¢C￿tributIOnS are recognised once the Charrtable Company has enlitlwnent to the inconx, it is prc*Jable that the income will be r￿eNed and the amount of ineLyne re¢eivabJe can be measured reliabty. For legaaes, enlrttemenl is taken as the earl￿r of the date on which either. the Charitable Company is awara that probate has been granted. the estste has been fin81is8d and n￿lf￿allOn h8$ been made by the executorls) to the Trust that a distribution will be made, or when a distribution 1$ ￿¢eiVed from the estsle. Re￿p1 of a lagacy, in whole or in part. is only considered probable when th8 amount can be measured reliably antj the Charit8ble Company has b￿n notified of the executor's intenlion lo make a dL8lribution. Where legaues have been noIrf￿d lo the Charrtable Company, or the Charitabla C¢Jnpany Is aware of the granth.ng ol prob8le, 8nd the criteria for income recognition h8ve not been met, then the legacy 18 treated a8 a contingent a888t and dlsch)sèJ rf material. Gifts in klrKI donated for distribution are in¢luded at v8luatw and rec￿nL￿￿ as income when they ar8 dislribirted la the projects. Gifts donate4J for rasalo are includell as income when they are $dd. Donated facilities are indud8d al th8 value lo the charity where this can be quanltfied and a third paty is tearing the c081. No amwnts are irKluded in the financ481 gtatements for sarvie8$ donated by volunteers. Donated sérv￿&$ or facilities are recognised when the Charilable Company has control over the Item. sny ¢ondrtions assooated with the donate4J ilam hav8 been mel, the receipt of economic benefrf( from the use of the Charitable Company ol the item is prOba￿e and that economic benefrt can b8 measuied rdl8bty. In at¢ordance wr(h the Charit￿$ SORP IFRS 1021, thè g￿èra1 volunteer b'me 18 r￿1 rwnlsed. On receipt, donated profeswonal arKI donated facilit￿ are recognis&Y on the ba616 of the valua of the gfft to the Charrtable Company Vffi￿h is the amount the Chantsble Company would have been wlling lo pay lo obtain semcas or facllities of equivalent econ¢ynic benefit on the opgn market; corresp)nding amount K8 then recognised in expendrture in the of r8C81pI. Othol inwie is recognised in th6 poriod in which it is rKeivak4e and lo the extent the goods hav8 been prowded or on ccmpleth)n of ts servi￿. Page 31 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng polici88 (continu￿) 2.6 Expendlturo Expenditure is rttogniÉed once there a *al or constsuclNe Cèligath￿ to transfer economic benefit to a third paty. rt is probabk that a transfer of economic ban8fi1s wim be required in setttement and the amount of the obligats'on can be M￿y[9d reliably. All expenditure is accounled for on an accruals basis. All expens# Indudlng supwt costs and govarnanc8 costs are allccated to the app1Kab￿ expendilufe headings. Govemance costs are Ih(bse incurred in Conned￿*n with &Jminl$lralMJn of the charitab￿ Company and compliance consliiutiond 8ThJ statlrtory requirements. Expenditure on tharitable 8divities is incurr*J on dIr&￿ty undertakiry thg aclNttb8 %thich further the Charitabk c￿￿Pan￿S 0￿.￿tIves, a$ well 88 any 8$x￿)0t￿￿ oUPPQrt costs. Grants payable are chwged in the when the offer is made except in tho88 e2883 where the offer Is eondltlon81, such grants being rttognised a8 expendrture when the conditi¢)n8 8ttachlng are fijffilled. Grants offered subject lo COnd￿0￿S whlch have not been mel al the year end are noted os a commitrnenl, but not acuued as eynditure. Irrecoverable VAT is charg&Y 4ain8t the expendituro heading forwhich it was Incur￿￿. 2.7 Intèrn8t r•c8lvab Interest on furKl$ held on deposit is induded when receivable and the amount can be measured reliably by Ihe Charitable C(*npany,' this is normally upon notificatson of the interest paid or payable by the b8nk. 18 Investr￿nts Investments are initialty m8asurgd at fair value vthieh usualy equales to the tran￿tIOn price and subsequently at fair v81ue where investments are listed on an actNe mart(el or where non li91ed investments can be reli8bty measured. Movements in fair value are measured In the Statement of Financd ACtIwt￿. 2.9 Taxatk>n The charrt￿8 Company is considered to pass the tests set OLrt kn Paragraph 1 Schtsyule 6 Df the Finanee Act 2010 and therefo￿ rt meets the definition of 8 charitable wmpany for UK eotporation 18X purposes. According￿. th8 Company is potenlialty exempt from taxat*)n in respect of incomè or caprtal gains re￿Ned wthin categories covere¢J by Chapter 3 Part 11 of the Corporation Tax Ad 2010 or Section 2&$ of the Taxation of Chargeable Gain5 Act 1992, to the extent that such income or gains ara aPpl￿d excluswety to charrtable puwposes. 2.10 Trade and other debtors Trade and other debtols a￿ recognised in￿alty at transactK)n price {inclLKling transaction costs) unless a financing arrangement exists in which case Ihey ar8 measured al the present value of future receipts diS￿nted at a m&ket rate. subwUent￿ these are measured at ￿ortiSed cost less any Provis￿ for Impalm￿ Page 32 TERESA BALL INTERNATIONAL SOLIDARifi FUND (A Ct)mpany Limited ty Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollclos Icontlnuadl 2.11 Cash at bank and In hand Cash at bank and in hand indudes cash and 8hort-teThn highty liquid investments wth a short malurrty ol three mrMths or lests from the date of a(4UiSiti¢)n or opening of the depoGiI or similar account. 112 Tradè and other creditors Trade and othar credltors are dassified as current hablIrt￿ rf payment 18 due within one year or les8. If not. they are presented as ncTrcurrenl liabilities. Trade payables are racognised inTtially at the tr8nsaction price and subsequentty measured at amorttsed cost using the effects.ve interest method. 2.13 Forelgn cufrencle• Th financkgl $lalements are presented in £GBP Sterling whith 18 the fvnc*onal currency of Ihe Charitable Company. Foreign currency Iransactlons are translated ￿10 the funclk)nal currency using thè spot 8xeh8ngé rates at thé dates of the Iransacts"ons. Al each peri¢Jd end forevjn currency monetary items are translated the c108ing rat6. Nonmonelary Items measured at histQriCo1 cost are translated using the exchange rate al the date of the Iransadion and non-monetsry itwns measured at fair value are measured u¥ing the exchange ra16 wh8n f8ir value was detemiined. Forwgn exchange gains ar￿ losgas Ilmt r¢lal8 to borTowings and ca8h and cash equivalants are Present￿ In the Slalemenl of Finanual Actiwty wthin 'cosls of charrtable actrvrties,. All other forelgn exchange gains and106ses ar8 pre8ented in the StataMnt of Finanoal Adivty wilhln '¢xpenditure on charitable adivities,. 2.14 Contlngencles Conling8nt liabiliti8$. aTiing as a resutt of past events, are not recogni¥ed when {il it l¥ nol probab18 that there will be an ouffioN of resource5 or that th8 amount cannot be reliably measured at the rep)rting date LY lill ￿en the extstence will be confim)ed by the LKcurrence or non-ocxurrence of uncertain future events not vtholty within the Cc*mpanls control. Contingent liabilrties are discloseA in the flnanclal ststements unless the prob8bilty of an ouffl¢YN of resources Is remotè. Contingent assets are nL* recognis&J. Conb'ngent assets are disclosed in the financial 8tatemenls when an infiow of econorrmc benefits i¥ prcknabb. Page 33 TERESA BALL INTERNATIONAL SOUDARITY FUND (A Company Llmlted by Guarante• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (continued 2.15 Provlslons Provisions are recognised c*tatity has a presenl lagal or constructive obligation as a resu of past events. it is probable that an outh¢)w of resources wll be required to Sett￿ the obligation.. and the amount of the obligation can be estimal8d r81iably. Whère there are 8 number of swnilar cblig81ions. the likdihocd that an outftow WIN ba required in Settlement is délemined by considering the class of obligations as a whole. A Provision is recognlsed even if the likdih¢wd of an cwjfficw with respect lo ary ane item included in the Some class of obligat￿)n9 may be smau. Provisions affj measured al the present value of the expenditures exp8cled lo be required to settle the abligalion using a pre4ax rate that reftects current market assessments of the time valu8 of money and the ri$k$ lo the oblwjat￿n. Th8 incr8898 in th8 provisions due to passage of time 18 reccty3nised a8 a finance c08t *ithin expw)dituTe on charitable adivilia$. 116 Flnanclal Instruments Financial instwmenls are reccgnised in the CompanlB Balarbcè Shaet whem the Company bocomes party lo the conlrxtual provision8 01 the instrument. Fln8ncTal 88sel8 and liabilrties are offset. with the net amunls pre8enled In the flnancial slalemenl8. when Iheffj is a legally énfortsable rlghl lo sel off the recognised amounts and there is an intention lo settle a net bass or to realise thè asset afyj settle the lia￿'lty simultaneously. Baglc flnanclal assets B85ic financAal assets. whith inctude trade arrtl other ￿1Vable$, cash and b8nk baknc88. are initialty measured al their transaction price incjuding transaction ￿81$ and are subsequ8ntty carriad 01 their amortised cost using the effective interest mthod, lèss ary pmwsion for impaiment, unkss the arrangement Constrt￿e8 a ffinanong transaction, where the Irans8Ction 13 measured 81 the present value of the future recwpts discounted at a mthel rate of interesl Discounting is omitted where the effect of discounting is immaterial. The Companls ￿sh and cash uivalenls, trade and m￿t othw due with the ¢¥erthng cycle fall into this catagory of linancial instruments. Othèr flmnclal assets Other financial assets, ¥th￿h indudes investments in equrty instruments ￿1¢h are not classthed as subsidiaries, associates or joint ventures, are inits.ally measured at fair valu8, which is normally the rwnisad transaction price. Suth assets are ¥ubsequenty rneasured al fair value with th& changes In fair value being recoJnised in th8 profrt or loss. Whare other financial assets are not publicly traded, hence their fair value cannot be measured reliabty. thèy are measured at cost less Impalr￿￿nl Page 34 TERESA BALL INTERNATIONAL SOUDARITY FUND IA Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢ountlng policlm Icontlnuedl 2.16 Flnanclal Instrum￿tr {contInU￿) Impalmi•nt of flDanclal a88•18 Financi81 a￿1$ are 838es%d for indK*ry¥ of imp8imMt at eath Teporting date. Financia assets are imwred Vrt￿n events. subs8quent to their inrknal recognition, indul8 the estimated future cash ftows deriv&1 from the financial assellsl have been adversely impacted. The pairment loss 4wll be the drfference between the current canying amount and the present value of the ftrture cash flows a58ellsl original effectNe interest rate. If there 18 a lavcHJr8ble change in rd*ion to the 8￿t$ Surrounding th8 thpalmient 1088 then the inpainnenl be Tevwed for possiblg rever¥al. The reversal will rol c8u$e the Current orrying amount to exceed the original carwng amwnt had the impaimient not boen recognisgd. Th@ impairment reversal is rec&anise•J in the profft or loss. Flnanclal Ilabllhla• Financi81 liablities and equty in8trumenls are dassified ￿dIng to the substance of the contractual arrangements entered into. An equty instruments any contracl that evidences a residual intere51 in the 888ets ol the Company after the deduction of all its liabilit￿. Basie financial liabilitiès, whth indudè tradè arKI other payables. bank loans and othér loans ara initially measured * their transaction price after Iran$adK)n costs. When this constitute8 a financing Iransacaion, wherety the debl instrument is measured al the present value of the future receipts discounted at a market rate of interegt. Oi8counting is c4nrtteAI ￿ere the effect of discounting is Immalerf81. Debt in81ruments are 8ub8eqLwIty carrbed at their amortwl cost using the eff￿tIVe intere¥t rate method. Trade payables are 0￿￿38t￿On5 to pay for gotsjs a)d ￿e89 that hav6 been acquired in the ordinary coutse of business from suppli￿5. Trade payabfe$ are classffjied as ¢urr8nl li8bilities rfthe payment is due within one year. If not, they rep￿sent non-current IratrAlilies. Trade payables are inrtially recogni8ed at their Iransa*Lw price and subsequentty are measured al amortised cost using the effeclive interest ff*th¢xl. Offjcounting ￿ omitted where the effect of dtscounting is imm8teri81. Othèr Ilnanelal Instrum•nts DerivatNes, irKluding forvrdrtl exchange contracts, futures contracls and interest rale $wap$, are not classtfied as basic financial instruments. These are inrtkglly rwni8ed at fair value on the date the derivative conlracl 18 entered into. wth costs being charged lo Ihe profrt or loss. They are 8ub8equently measured at fair value with changes in Ihe profft or k6s. Debt instruments that do not meet tha conditions as sat out in FRS 102 paragraph 11.9 are subsequenty measure(l at fair value through the profft or kjss. This recognition and measurement would also apply to financial instruments where the perfonnance is evaluated on a fair value basis as with a d(#)Jmented risk mn•J￿}en1 or investrnent strategy. Page 35 TERESA BALL IPITERNATIONAL SOUDARITY FUND IA Company Llmlted by Guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng polScie• lcontlnu￿> 2.16 Flnanclal Instrumènts {contlnued) Darewnltk*n of financlal in8trum•nts Derocognltlon of flnanctal 88*8ts Fina￿al a88ets are derecogni8ed ¥h￿n their contractual right lo future Gq8h flcw explre. or are settled. or when the Company transfers the asset and subslantiaTry all the risks and rewards of ownershlp to another party. If s6gnfficant risks and rewards of owneTship are retsiner the ye8r bdore movement on investments las per Statement of Finanei81 ActNibes) 4,328,959 1,663,449 Adjustmants for. Investment inc(yme (Gains) on investments Decrea8ellincrease) in debtors Increase in credi (988) (7.454) 11.161.748> f1,944232) 15.718 (15, 719) 410 199 Nel cash provlded byl{us•d in) oporating activities 3.182.351 {298. 757) Page 44 TERESA &4LL INTERNATIONAL SOUDARrrY FUND {A Company Limited by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 17. Anatysls of cash and cash equlvalents 2025 2024 Cash al bank and in hand 3,746,765 282.007 Total cash and cash èquivalonts 3,745,785 282,007 18. Analys1$ of chang08 In net debt At1 Janu#ry 202S Cash flows At31 D•cembor 2026 Cpsh at bank and in hand 282,007 3,483,758 3,745,765 282,007 3,463.758 3,745,765 P8ge 45 TERESA BALL itr¥fERNAnoNAL SOUDARITY FUND IA Company Limited by Guaranto8 NOTES TO THE HNANCIAL STATEPIENTS FOR THE YEAR ENDED 310ECEMBER 2025 19. Funds receivedlhèld as agent Teresa Ball IntematK)nal SolKJarity Fund ITBISF) has entered into a Fund Investmenl and General Project Agency Agreement wilh the Lorelo Ladies. Colleges and Schcols ILLCSI. LLCS has engagod TBISF as its agent to a&sisl rt in investing ils funds and Ca￿n9 oul its charitable activities on its behalf. 2025 2024 Funds rec•lved and pald by TBISF as agwt Opénlng balance Donations pavj as agent Net g8insllb8sesl on invest￿ts. including bank Interest Bank and investrnenl fees Foreign currency gainslllos8es) 5,219,730 1724,5921 149,005 116.5661 268.226 5,608,022 {675,840J 560,525 (21,819) (251, 158) Closlng balanca hèld as agant A8sfjts held as agent 4,883,803 5,219,730 Cash at bank Investments. unrtiaed funds Debtors Credi AccruaL4 167.191 4,825.142 41,922 5.315, 126 6.614 (139.510) (4.422) 1104,5301 14,0001 CIo8lng balance held as •g•nt 4.883.803 4219,730 S•gr•gatl¢n of a$￿ts Both th8 cash at bank and investrnent pth1￿ are hekj in separate LLCS S￿)unts. 20. Capllal commltments There were no capital commitments at the year erKled 31 Oecember 2025. 21. Contlngent Ilabilitlos Thare were no C￿ntingent Ikqbilities at the year er*ded 31 Dxember 2025. Page 46 TERESA BALL IKfERNATIONAL SOUDARITY FUND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 22. R•lat8d party transactions The Charitable Company supports the mwion of the Insti¢Lrte of the Blessed Virgwi Mary - Lorelo Generalate and is a related paty by virtue of common Tnjslees. During the year the Charity donat&J funds to the Instrtute of tha Bless&1 Wirgin Mary - Lorelo Generalale through the Loreto Ladies, Col*s and Sthools ILLCSI. These funds 8mounled lo £366.492 12024.. £431,198). Thé funds wero subsequenty spent during the year lx Speofic TBISF and LLCS related projects. During the year the Chanty recefved a lotsl donalion of £5.518,669 from various Intemalkjnal provinces as listed in ne4e 6.1. These InlemalK)nal promnces are Cons￿6(*1 relatèd paty by wrtue of eommon Trustees. 23. Post b#l•ncg shggt evonts There have been no significant events affec*ng thg Charitable Company 8lnc8 year end. Approval of the flnanclal $tatem•nts The Trustees approved Ihe financial 6taterrthts for i56ue on: 2610512026 Page 47