CHARITY FOR CIVIL SERVANTS ANNUAL REPORT AND ACCOUNTS for the year ending 31 December 2025 v4 The Clvll Service Benevolent Fund operating as the Charity for Civil Servant5 CHARITY FOR CIVIL SERVANTS ANNUAL REPORT AND ACCOUNTS For the year ending 31 December 202S The Civil Service Benevolent Fund operatlng as the Charity for Civil Servants Address: 5 Anne Boleyn's Walk, Cheam, SLrtton. SM3 8DY The Trustee5 of the Charity for Civil Servants presenttheir Annual Report for the year ended 31 December 2025 under the Charities Act 2011 and the Companies Art 2006, including the Trustees, Annual Report comprising the Strategic Report and the Directorg Report under the 2006 Act together with the audited financial statements for the year. CONTENTS Page Chairfs foreword CEO'S statement Strategic Report Mission, Vision. Purpose Senilce Review Service Delivery Review Goals & Objectives, Achievements & Successes Impact & Beneficiary Storles Fundraising Review 12 Ambitions and Plans for 2026 13 Governance Report 15 Financial Review 20 Auditor's Report 26 Financial Statements Comprising Statement of Financial Activities 30 Balance Sheet 31 Cashflow 32 Notes to the Account5 33 Thank you to our support partners 56 CHAIR'S FOREWORD Welcome to your Charitys Annual Report and Alongside support from the Cabinet Office Accounts for 2025. and the Northern Ireland Civil Service, I am also grateful for the support we have once again received from the Civil Service Insurance Society, CSIS Charity Fund and Boundless. l am encouraged to see the growth in partnerships across 2025 and welcome the contributions of Newton, Autumna, Purple and Pearn Kandola to our work and community. This year, we also welcomed a new media partnership with Civil Service World, rneaning more civil serva nts than ever before will hear about our vital mission. Now, more than ever, it's vitally important that the Charity for Civil Servants is here to support all current, former and retired civil servants when times are tough. The Cha ritls historic mission has never been more relevant, with one in ten civil serva nts applying to us for support at some point in their lives. We wa nt to reassure all civil servants, past and present, that we are your cha rity for life here to support whatever difficulties you are facing. A special thanks must go to our supporter5, donors, partners and volunteers, whose dedication makes such a difference. As Chair of the Charity and reflecting on our impact in 2025,1 can report that the Charity spent over £6.18m in providing over 73,000 instances of help. I would also like to pay tribute to the hard- working staff of the Charity and my fellow Trustees for their cornmitment and continued determination throughout the year. In 2025, with the whole-hearted support of the Cabinet Secretary, the Charity continued to nurture deeper relationships and bonds Last year, we set out a new 2025-29 strategic across the UK Civil Service. We are forging plan. In spite of chal lenging headwinds, the Stronger ties with Government People Group, Trustees, Executive Team and l are confident Cabinet Office and growing meaningful that the Charity for Civil Servants has made connections across all department5, devolved significa nt positive progress since our last nations and staff networks. report. l am encouraged that we are on course to meet the growing demands for our services in the year to come - and for many years to come. The Charity's Mental Health and Wellbeing Conference in October continues to go from strength to strength. Over 13,500 people signed up for our free annual online event in Finally, as I nearthe end of my tenure as 2025, demonstrating the high regard in which Chair of Trustees at the Charity, I'd like pass our in-house team are held across the Civil on my final thanks to all Trustees and to Service. everyone in the Charity who have made such powerful contributions toward the community we were created to serve 140 years ago. The Charity's work makes such an important difference to the lives of so many people and that is something of which you should be rightfully proud. Fundra ising is continuing to improve with more civil servants than ever supporting one another through our Community Lottery, Mega Miles Challenge and Festivejumper Day. Whilst it is evident that civil servants, generosity spans many charitable causes, it has become abundantly clear this past year that the financial ability of the Charity for Civil Servants to support those in need is only made possible through the generous contributions of civil servant5 and the Civil Service itself. Sir Peter Schofield KCB Chair of Trustees CEO'S STATEMENT Demand for our services remains high. We know that one in ten civil servants will apply to us for help at some point in their lifetime. In 2025 alone, the Charity provided more than 73,000 instances of help to current, former and retired civil servants. Put another way, every 16 minutes someone came to us for support- thays an average of 544 requests each month. 60% of all cases related to financial assistance, demonstrating the importance of our historic role as a benevolent fund. IF J'i QTTS Behind every one of these numbers is a person facing a challenge and a community ready to support them. Alongside this direct support, we worked hard to strengthen our presence across the wider Civil Service community. Our team spent more time than ever engaging with departments and colleagues across government, including attending CS Live events across the UK, speaking to 20,000 civil servants, while gaining over 10,000 new sign-ups to our communications. jonathan Freeman, MBE, DL Chief Executive Officer 2025 has been a year of important progress for the Charity for Civil Servants as we continued our historic mission of helping people overcome life's challenges and thrive. At a time when many individuals and families are facing increasing pressures, the importance of our work has never been clearer. We were also proud to deliver several flagship campaigns and events during the year. Our Mental Health and Wellbeing Conference reached over 13,500 people, helping to Spark important conversations about wellbeing across the Civil se￿ICe. Initiatives such as our Mega Miles Challenge and other community activities brought thousands of people together while also supporting the Charitys vital work. Throughout the year we strengthened our position at the heart of the Civil Service community, working even more closely with Government departments and wider public Like many charities, we have navigated body organisations across all corners of a challenging external environment. The the UK. These deeper collaborations help economic climate continues to affect ensure that civil servants know that support is disposable income and, in turn, charitable available from the Charity when they need it. giving and fundraising. At the same time, we have been investing in improvements to our We also made a strong start to the first year interna I technology infrastructure to ensure of our five-year strategic plan, setting the we can continue to deliver effective and foundations for sustainable growth and a efficient 5UPPOrt in the years ahead. We are positive future for the Charity through to 2029. very proud that, against this background, we As part of this work, we continued to increase have increased income for the second year our Help and Support spend while also taking in a row as well as reduced our core costs important Steps to reduce our deficit and to maximise expenditure devoted to our strengthen our fina ncial position. charitable purposes. Looking forward, our focus for 2026 is clear. We will continue working to increase our income so that we can support even more people in need while achieving long-term financial sustainability. We will also grow awareness, participation and loyalty across the Civil Service community, ensuring that every current former and retired civil servant knows they can reach outfor free help and support wheneverthey need it because we are truly Your Charity for Life. We will also continue to build strong relationships with key stakeholders. With the unanimous backing of every Permanent Secretary, 2025 saw the launch of the Charws Senior Civil Service Ambassadors network. With Ambassadors active in every Government department and devolved nation, we now have a motivated neLwork of senior officials committed to acting as a bridge between the Charity and the community we support. In this way, we are integrating our mission more closely across Government than ever before. Finally, 2026 will be a particularly special year as we celebrate the Charitys 140th anniversary. This milestone provides an opportunity not only to reflect on our history and impact but also to ensure we are fit for the future and ready to support generations of civil servants to come. None of this would be possible without the dedication of our staff and volunteers, the generosity of our supporters, and the commitment of civil servants across the UK who champion our work. Thank you for your continued support. Together, we will continue helping our people overcome life's challenges and thrive. Thank you Jonathan Freeman. MBE. DL Chief Executive Officer STRATEGIC REPORT OUR MISSION OUR PURPOSE Helping people to overcome life's challenges and thrive. We've grown and changed over the years but still have the same purpose to support civil servants. OUR NORTH STAR rtrem￿d1he Charftyf0rCI￿l5ervaThts backlDtO ihehpartof theCMI se￿(eC0mm￿NY STRATEGIC VISION STRATEGIC AIM1 STRATEGIC AIM2 STRATEGIC AIMJ Delk¥Éfpowerfulsodalltnpa thrnu8hthepro￿5l0rn Df hlgh qu?IltyhElp,advlceand5UPPQrt ts OUT (urnmun(y. E5￿t￿lsh&S1roTrsandsUStsI￿b1e tundin8posltion Ihrotsgheffeti￿￿ andlDroéattvelundraid approaches. Etsurefvithethaity Intrea5WyweUresper* acivety5UPPDrted*id wom0￿￿ a(ro550urCommtwty. ENABLING AIM.. Pr(Mdp eN8ttiv&suppDrtiothe Help.Advice& Servile5 and Fundrè15rn&& CDfflmunirJ%ionsieams provlditsg insightful Information 4thile enabling50und deci51on5and ensuring thatOUrpeo￿e aredeveloped and mojvated Sn thelr ro￿5. COVNTABLE ¢OLLABORATIVI DECISIVI INCIUSIVE KIND We are the occupational charity for more than 1 .5 m i Ilion current and former civil servants (plus theirfinancial dependantsl, and a wider group of public body employees. Over the years, we have developed our support so we can respond to the needs of our community. We don't just give financial help but give information, advice and access to a variety of services. Our Charitable Purposes For the public benefit, to relieve from suffering, hardship or distres5 (whether financial or otherwise), a nd to promote and sustain the wellbeing of Civi I Servants, former Civil Servants, Public Body Employees or former Public Body Employees, employees and former employees of the Charity la nd any predecessor organisation of it) and their dependants i ncluding without limitation by: offering lifelong practical, financial and emotional support, advice and guidance: providing direct SUPPOrt to individuals, using other available channels to enable civil service communities to connect and support each other, and collaborating with other organisations. REVIEW OF 2025 SERVICE DELIVERY REVIEW We offer support to currently serving, former, retired and financial dependants of eligible bodies-around 1.5 million people. Our charitable objects include relief from hardship or distress (whether financial or otherwise) for the public benefit of current or former civil servants and their dependants. Grants are made within our charitable objects and the agreed strategy of tho Charity. In 2025, we spent £1.6m on financial grants alone. In addition to financial grants, we provide caring, health and wellbeing conversations, money advice and guida nce, including debt and budgeting, and signposting to relevant professional support. The Trustees consider public benefit, legislative changes and extra or changing needs when setting the policy. As part of our wider public benefit, we maintain a website with digital support and content relevant to the wider public, including information on caring and syndicated tools such as Money Helper calculators. We offer one-to-one support, as well as events for larger audiences, such as our annual Mental Health and Wellbeing Conference. We work with civil service staff networks, relevant organisations and Departmental leads {for example in HR and Wellbeing) to ensure our services are relevant and complement any workplace support (for example Employee Assistance Programmes). We also work with organisations such as Carers UK the Civil Service Retirement Fellowship, Money Advice Service, and the Association of Charitable Organisations to ensure we keep up to date, and we use Civil Service data in the public domain, such as the annual People Survey, to inform our financial assistance and service development, Of our total payments in financial assistance, we made over 11,900 one-off payments to a value of £1.5m. Our SORP categories are shown with percentages below.. STATEMENT OF RECOMMENPEP PRACTICE (SORP) CATEGORIES Poor wellbeing 111 health 19.07. 13.1Y. Relationship breakdown and domestic abuse C?rlngand bereavement Disability 7.87. 9.5% Other GRANT MAKING POLICY All grants are subject to a formal approval process. We award grants based on the four principles below.. Eligibility- the applicant must be a current, former or retired eligible person, or their f inancial dependant,. Circumstances underlying the need, for example ill health, caring, bereavement, domestic abuse, relationship breakdown, reduced income or unsafe accommodation,. Need - identifying the specific needs and which needs should be prioritised,. Alternative resources- for example entitlement to benefits, or grants from other charities. In some cases, thi5 may be additional help rather than alternative help. Grants include financial help payments for a range of situations, including household items and bills, mobility equipment and adaptations, payments to third paty suppliers for advice and counselling, and digital apps and resources to support wellbeing. GOALS & OBJECTIVES. ACHIEVEMENTS & SUCCESSES The Charity embarked on the first year of our five-year Strategic Plan in 2025, making good progress across our strategic objectives while adapting to both internal developments and external pressures. that enables greater understanding of reach and applicant make-up. We also clarified the eligibility of individuals employed by public bodies and public service organisations, strengthening our capacity to deliver support to those in need. Our Mental Health and Wellbeing Conference expanded significantly, offering a wide range of content and reaching more than 13,500 people, with further engagement through on-demand access. This, combined with other help webinars and self-serve resources, enabled us to meet our outreach targets and directly support our charitable aims. This significantly underpins our lead objective to deliver c05t effective impartial financial and wellbeing help. We completed an independent interim Social Return on Investment study, demonstrating that each £1.00 spent generated £4.73 in social value. Evaluation processes for conferences were successfully embedded, and a review of the Help, Advice and Services (HAS) policy was completed, with recommendations approved bythe Board injuly and implemented in August 2025, including an uplift in fina ncial assistance to reflect cost of living pressures. Another key objettive is to clearly define our help services. We redefined our help categories Progress on simplifying our a pplication into three tier5, producing clearer baseline data and partnering with Lightning Reach was constrained by wider infrastructural dependencies related to the Customer We also deepened our engagement with Relationship Management ICRMI and wellbeing leads across departments through portal redevelopment planned for 2026,. listening circles, cross-government Wellbeing nevertheless, we undertook a revievv of & Attendance Network meetings, and bespoke process simplification and terminology to webinars for teams including Ministry of prepare the ground for future improvements. Justice, HM Prison and Probation Service, and HM Courts and Our final key objective, reaching a wider Tribunals Service. These audience, included targeting more retired achievements reflect civil servants and working successfully in meaningful progress collaboration with the Civil Service Retirement toward our strategic Fellowship on dementia awareness and aims, though reliance on participation in the Civil Service'5 Charities and broader i nfrastructure Partners Week and Civil Service Live sessions, projects and shifting raising awareness of our services and external factors, such strengthening sector relationships. Changes as cost of living trends to the midlife MOT prompted a revision of and government-wide the Staying Well Plan, which is now being wellbeing initiatives, reshaped into a broader retirement hub for shaped the pace launch in 2026. and priority of some developments. IMPACT & BENEFICIARY STORIES Service Delivery In 2025. the Charity for Civil Servants provided over gi,000 instances of casework. instances of help. comprising: . g2g,oig) gc,000 instances of information & resources. instances of self-service support. Every (o llotJ(gtfE of all case support was related to financial assistance. someone asked the Charity for help. Independent research ) demonstrates that each £1 we spend generates utJ(o civil servants will apply to the Charity during their lifetime. in social value. These arejust a couple of our many stories that demonstrate the clear impact the Charity can offer an individual needing our help and services: UMME'S STORY After the devastating loss of her baby daughter, Umme turned to the Charity for both emotional support and help with funeral costs at a time when her family was already under financial strain. Her story is a powerful example of our compassionate, joined-up support when life changes in an instant. f I I needed to turn to someone who wasn't family. wasn't a friend. wasn't somebody that knew me and somebody who wouldn'tjudge me. Somebody who wanted to listen to me and to help me. 19 DOM'S STORY When his fatherjohn was diagnosed with brain cancer, Dom became a carer overnight. The Charity helped him work out how to get the support he needed from his department, including practical tools such as a Carerfs Passport and Carerfs Statement. His story shows how the Charity can provide prartical, workplace- focused support at moments of sudden change. Their support allowed me to focus on the things that mattered most. making precious memories with Dad, and committing to the time we had left to be with him. 99 WHAT PEOPLE SAY ABOUT OUR SUPPORT The impact of our work is best understood through the voices of the people we support. These reflections show how the Charity provides compassionate, practical and joined-up help when l ife gets tricky, while also creating long-term confidence and stability. 11 i just want to say a massive thank you for all your help for myself and my children. You don't understand what it means to me that we will finally be safe. Thank you from the bottom of my heart. 99 11 Me and my partner have now finished couples counselling. and we have been able to rebuild our relationship with techniques that will last and benefit us for a lifetime. 19 10 The wellbeing conversations have been really helpful. To see my stress levels decrease and learn how to manage them more effectively. I feel more confident when things get difficult in the future. 99 11 I have just received the decision letter and your hugely kind decision to clear my rent arrears. I can't tell you how grateful and relieved l am. I have informed the landlords. 11 11 Thank you also to the money advisor. who has also helped me with much needed advice. guidance and support to help me get my finances in order. 99 11 Thank you so much. I'm actually crying. Once I get back up on my feet. I will be donating towards the charity. and I will be telling everybody I know how much you have helped me: l appreciate the help so much. It's been a really tough couple of months. and I can now have my son stay over at my new place. 99 The feedback we receive reflects the breadth of the Charity's support, from financial assistance and money guidance to wellbeing conversations and relationship support. Together, these comments show that our support is immediate and compassionate, and also practical, empowering and lasting. FUNDRAISING & COMMUNICATIONS REVIEW Throughout 2025, we continued to build awareness of the help the Charity offers, while strengtheni ng relationships with key stakeholders to grow our access to audiences and increase fundraising. In August, our CEO achieved a 6-mile Pedal with Purpose bike ride with JP Marks CB, First Permanent Secretary of HMRC, and every pound raised (up to £1,500) was generously doubled by Newton, achieving over £5,000 in donations. We raised funds for the Charity from generous regular donors, most of whom donate monthly through their pay, as well as from those vvho take part in our Community Lottery, participate in our fundraising events, leave a gift in their will, give a grant or organisational donation or make a one- off donation through our website or by post. Grant income is an important source of income. We received generous SUPPOrt from across the Civil Service through the Cabinet Office and from the Northern Ireland Civil Service. We were also delighted to receive £75,000 from the CSIS Charity Fund which is entirely funded by the Civil Service Insurance Society. We delivered the online Mental Health and Wellbeing Conference in October with over 13,500 participants registered to hear about tOPlC5 including mental health, carers services, financial support and advice and more. This year we also introduced partnership packages securing an extra £32,500, building sustainability and income for the Charity. Our work with the Civil Service community continued to grow with involvement in the Cabinet Office-led Charities & Partners Week in March, followed in May by more than 5,000 people taking part and raising funds through our Mega Miles Challenge, bringing together colleagues across the UK Civil Service. The Mega Miles Challenge raised nearly £80,000 to help ensure that no civil servant has to face life's challenges alone. 2025 finished with our Christmas fundraising campaign combining an appeal and Festive Jumper Day event, again bringing together civil servants across the UK to support their Charity. This fundraising activity raised £24,033, including gift aid. As ever, we would like to take this opportunity to thank every single person and organisation who supported the Charity through making a donation, raising funds or giving their time. Duringjune and July, the Charity played an active part in Civil Service Live, a conference reaching seven venues across the UK and a chance for 20,000+ civil servants to hear about the help and services the Charity offers. During this time, 10,000 more civil servants signed up to stay in touch with the Charity. We could not do it without your generous support. 12 RESPONSIBLE FUNDRAISING & MARKETING We alway5 endeavour to maintain the highest Essentials+i to secure and maintain accurate standards of ethics and welfare when delivering and up-to-date records, safeguarding to our fundraising and communications. ensure we look after vulnerable 5UPPOrters and an ethics policy to ensure our approach adheres with our charitable purpose and legal requirements. Our sijpportei promise outlines the commitment made to our supporters and the public, affirming that we ensure that our fundraising is legal, open, honest and respectful. The Charity 15 registered with the Fundraising Regulator and income generation activities are aligned with the Code of Fundraising Practice. The responsible management for our fundraising and communications includes a Data Steward to ensure we comply with UK legislation around data and privacy, procedures and rnitigations (including Cyber Our website outlines our complaints and other policies forthe public and clearly explains how an individual can contact the Charity. No formal complaints were made in 2025. AMBITIONS & PLANS FOR 2026 As part of the planning process for 2026, we evaluated our performance in 2025 and noted the lessons learned to support improvements as follows.. Strengthen planning and prioritisation Improve communication and engagement internally. understanding interdependencies Simplify and focus on core infrastructure. addressing technology challenges and efficiency improvements required Enhance collaboration and flexibility 13 Our 2026 Business Plan brings together the Key Performance Indicators IKPls} against which we will assess progress. The Plan is the culmination of a detailed collaborative exercise across the Executive Team and By the end of 2029, our goals are to increase beyond, throughout which we challenged and our income and provide help to even tested each otherfs thinking,. the resulting Plan more people i n need, achieving financial is one to which we are collectively committed. Sustainability. success, and better reporting structures which are designed to provide transparency and accountability for ourselves and Trustees. We have grounded the 2026 Plan in clear longer-term strategic aims and objectives, measures by which to effectively monitor This means that we intend the Charity to be in a broak-even financial position by the end of 2029, LOOKING AHEAD HELP. ADVICE & SERVICES In 2026, we will review all service offerings, including financial grants, through a Theory of Change framework. This will help us capture the outcomes and impart and maintain our relevance. Alongside this, we will be undertaking a gap analysis to identify regions or cohorts of people we need to reach. We are seeking to simplify some of our internal processes and review our a pplication process to ensure it is clear and intuitive for people seeking help. We feel strongly that the long-term success of the Charity is dependent on our ability to meaningfully respond to the growing demand on our services. In 2026, HAS will focus on strengthening its social impact by building on the Bean Research findings and deepening our understanding of social Return on Investment ISROII, ensuring we capture the combined value of our services. We will review our service delivery to improve efficiency and increase our reach, whilst continuing to deliver high-quality direct support to individuals through our Grants, Money Advice and Wellbeing teams. We will also deliver our flagship Mental Health and Wellbeing Conference in October, along with key campaigns such as Carers Week in June and Talk Money Week in November, using our specialist expertise to engage and support civil servants with these important subjects. 14 FUNDRAISING & COMMUNICATIONS This directorate will focus on establishing a strong and sustainable funding position for the Charity through an effective and innovative range of fundraising approaches that inspire and engage our community and other supporters. This will include recruiting new regular donors, engaging grant givers and corporate donors, growing our legacy giving programme and developing supporter retention across all areas of giving. Our Communications team and our Community Engagement team will be focussed on building awareness across the Civil Service community throughout the UK and Northern Ireland. The outcomes of their work will be increasing levels of awareness, engagement and loyalty. We will be making site visits to a number of locations, including Belfast, Edinburgh, Cardiff, Glasgow, Darlington, Leeds, Newcastle, Liverpool and Croydon, and many more. Being out in our community and meeting the civil servants we support not only raises awareness of hovv people can get involved with the Charity, but also ensures colleagues know that we are their Charity for Life, providing free, confidential support for life. GOVERNANCE REPORT GOVERNANCE MANAGEMENT. CONSTITUTION & MEMBERSHIP The Civil Service Benevolent Fund vvas incorporated on 16June 2010 as a company limited by guarantee (company number.. 72863991 and is governed by its Articles of Association. In May 2012, the company began operating under the name'The Charity for Civil Servants" The Charity is registered with the Charity Commission in England and Wales (number: 11368701 and is on the Scottish Charity Register (number.. SC0419561. The Charity has one subsidiary, CSBF Enterprises Limited, registered in England and Wales direction, monitoring the delivery of the (company number- 03119311 } and more detail Charitys objectives and upholding its values is available under Note 11 (cl to the accounts. and governance. To achieve this effectively, the Board regula rly reviews the structure, size and composition of the Board to ensure it has the necessary skills, knowledge and experience required. This involves an annual board effectiveness review which identifies gaps and informs recruitment. The Charity has been granted continuous patronage by the Monarch since Queen Victoria in 1886 which continues under HM King Charles11 l. The Charity is governed by a Trustee Board of between 8 and 12 Trustees whose Chair is appointed by the Cabinet Office per the Articles of Association. The Board is responsible for setting the Cha ritls strategic Trustees are appointed for an initial term of three years, to provide an orderly succession, and are eligible to serve a second term, up to a maximum of six years. Therefore, the Charity recruits new trustees on a regular basis to fi15 Board vacancies as and when they arise through open advertising or the services of external advisers to identify candidates. All recommended candidates are reviewed by the existing Board and appointed by resolution of the Trustees at the Annual General Meeting. Where a vacancy occurs outside the annual recruitment process, Trustees may be appointed to the vacancy until the next AGM. TRUSTEE RESPONSIBILITIES The Trustees are responsible for preparing The Trustees are responsible for keeping the Trustees, Report (which comprises the proper accounting records that are sufficient Trustees, Strategic Report) and the accounts to show and explain the charitable company's in accordance with applicable law and transactions and disclose with reasonable regulations. Charity law req uires the Trustees accuracy at any time the financial position of to prepare financial statements for each the charitable company and enable them to financial year in accordance with United ensure that the financial statements comply Kingdom Generally Accepted Accounting with the Companies Act 2006. They are also Practice (United Kingdom Accounting responsible for safeguarding the assets of Standards) and applicable law. Under the Charity and hence for taking reasonable company law the Trustees must not approve steps for the prevention and detection of the financial statements unless they are fraud and other irregularities. satisfied that they give a true and fair view of the situation of the charitable company and The Trustees at the date of approval of of its net incoming resources for that period. this report have confirmed, as far as they In preparing these financial statements, the are aware, that there is no relevant audit Trustees are required to.. information {information needed by the Cha rity's auditor in connection with preparing Select suitable accounting policies and the audit report) of which the Charity's then apply them consistently.. auditor is unaware. Each Trustee has taken Observe the methods and principles in all the steps that they should have taken as the Charities Statement of a Trustee to make themselves aware of any relevant audit information and to establish Recommended Practice {SORPI,' that the Charitys auditor is aware of that information. Make judgments and accounting estimates that are reasonable and prudent,- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. 16 TRUSTEES & ADVISORS Members of the Board who served during the year and as members of cotnmittees during 2025 are as follows: Board of Trustees Finance and Audit Committee Investment . Nominatlon Committee i and l Remuneration Committee ** Sir Peter Schofield KCB Alban Stowe lappointed on 28.02.2025) Amrita Devaiah pointed 25.07.25) An ela MacDonald Anne Splnali lappointed 28.11.25) Catherine BlaSr (appointed 28.11.25) David Kuenssberg Iresi ned 14.01.2026) James Renwick (retired 25.07.20251 Jaspal Roopra (resigned 25.07.20251 Mal Singh (retired 25.07.2025) Matthew Brook Michael Smith Luke Treadwell Lorraine Jackson (appointed 25.07.25) Sonia Phippard Alex Reeves Carmel Thornton pointed 28.11.25) Clara Lane (retired 25.07.202S,. appointed as a co-opted mefflber of the Investment Committee) Robert Wood Simon Brodie lappointed 11 ,09.25) ** ** ** ** ** Committee chair Committee member Co-opted member 17 To support new Trustees to fulfil their The key advisers to the Charity are: responsibilities and act in the best interests Auditor.. of the Charity, each is invited to a tailored Haysmac LLP induction session, and provided with relevant 10 Queen Street background information, policies and London training. All Trustees give their time EC4R 1 AG voluntarily and receive no benefits or remuneration from the Charity. To ensure Bankers.. good governance and that any conflicts of Lloyds TSB Bank interests are managed, Trustees disclose any 1 Butler Place transactions with persons and entities closely Victoria Street connected to the Charity or its Trustees, London known as related parties. No Trustees SW1 H OPR had any disclosable interests under the Companies Act 2006. Investment Managers: Columbia Threadneedle Investments The Board meets a minimum of three times a 78 Cannon street year and takes all important strategic, policy London and financial decisions. In 2025, it met four EC4N 6AG tirlles and was further supported by 3 sub- committees, the memberships of which for 2025 are set out above. 50licitors'. Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR Day-to-day management of the Charity is delegated to the Chief Executive Officer, Jonathan Freeman, and other directors responsible for Finance and Resources, Help, Advice and Services, and Fundraising and Communications. An appropriate director acts as secretary to each of the Board sub- committees, except for the Nominations and Remuneration Committee for which the Charitls Head of People and Payroll is secretary. o•owa5 18 SAFEGUARDING POLICY Safeguarding is everyone's responsibility. The Charity for Civil Servants has a duty of ca re to safeguard people we help, people who support us and volunteer with us, staff and Trustoes. We have a responsibility to safeguard children and vulnerable adults. Vulnerable can refer to the situation someone is in, or refer to a lack of menta I capacity, mental or physical frailty, for exarmple an inabilityto communicate, dementia or mobility impairment. A safeguarding issue can arise in any setting and can be an immediate concern or an allegation about something happening now, in the past or in the future. It can be one incident or a series of incidents. We have a policy, procedures, information and training so that all staff and volunteers can identify and respond appropriately to safeguarding concerns, reporting to relevant agencies such as the police or local authority safeguarding bodies. The policy also refers to other policies, for example whistleblowi ng. The Board of Trustees nominates a Safeguarding Trustee Lead. The other Safeguarding Leads at the Charity are the Director of HAS, the Head of HAS Operations and the Chair of the Safeguarding Group. The Safeguarding Leads respond to incident reports. The Safeguarding Group reviews policy, best practice and procedures. This group consists of the Safeguarding Leads and representatives from the Charity at all levels. An annual update and report are submitted to the Board of Trustees. All seriou5 incidents are reported to the Board of Trustees and the Charity Commission as they occur. CHARITY GOVERNANCE CODE The Charitys Trustees acknowledge that the Charity for Civil Servants is best placed to fulfil its vision, mission and strategic goals if it has effective governance i n place. The Charity continues to utilise the Charity Governance Code as a tool to support the Board to reflect upon its governance structures and consider the most appropriate ways to adopt the Code's principles a nd recommended practices. The Trustees also continue to uphold their1egal responsibilities and recognise that behaviour and culture are integral, both in supporting the Charity to deliver its objects most effectively for its beneficiaries, benefit, and in achieving good governance. The Charitys governance structures continued to work well during 2025, and most Board meetings were held in person with a remote option for those unable to join face to face. Larger committee meetings were also held predominantly in person, with smaller meetings being held virtually. This Annual Report, which incorporates the Trustees, strategic Report, was approved by the Trustees on the [1510512026], and signed on their behalf by.. Sir Peter Schofield KCB Chair, Board of Trustees 19 FINANCIAL REVIEW OVERVIEW FINANCIAL OVERVIEW The Charitys net assets at the year-end were £26.4m, up by £0.7m from 2024. This position comprises three main elements.. OPERATIONS In the first year of its am bitious five-year plan, the Charity recorded an operational deficit of £1.8m, a significant reduction over the 2024 deficit of £2.8m. The deficit had been approved by Trustees within the five-year strategic plan, which recognises that the Charity must continue to invest in its services to current, retired and former civil servants and i n its fundraising activities to overcome its long-term financial sustainability challenge. INVESTMENT PORTFOLIO The unrealised gain on investments was £2.Om12024- £1.2ml. At the year end, the portfolio was valued at £23.9m12024'. £23.7ml, an increase of £0.2m in the year. The key movement5 were the planned disinvestment of £2.3m offset by unreali5ed gains of £2.0m. OTHER GAINS The defined benefit pension scheme increased in value by £0.4m12024'. £0.1 m) and the revaluation of the investment property increased by £0.1 m12024: Nil} INCOME In 2025, total income was £5.6m12024.' £4.6m}. The principal source of income remains regular monthly contributions from individuals, both serving and retired civil servants. Together with Gift Aid, this source of income accounted for 50% of the Charitys total income12024: 65%). Major giving amounted to £1,259k (2024: £253kl following a significant i ncrease in the Cabinet Office Grant, along with grants from CSIS Charity Fund and the Northern Ireland Civil Service. Investment income of £662k12024'. £690kl is derived from the Charity's investment portfolio which is invested with Columbia Threadneedle. Other income of £395k includes lottery income of £281 k which has continued to grow since its i ntroduction in 2022. Regular coniributions from Indiwduèls1£2.767kl 50% Leg3cie51£396kl 7 Evenrs and comffjuniiy giwng1£100kl 2 Major givin81£1.2S9kl 23% Investment Income1£662kl 129& Other1£395kl 7 20 EXPENDITURE FUND MANAGEMENT Total expenditure for the year is £7.3m12024.' The longer-term investments are managed £7.3ml with £6.2m12024'. £6.2m} being spent in a dynamic pooled fund with Columbia on charitable activities. Threadneedle, deliveri ng real returns with volatility control with the aim being to deliver a real return of UK CPI + 4% per annum after the payment of investment management fees over a 3-5 year time horizon. Costs of raising funds were £1.2m {2024', £1.2ml and includes elements of staff costs and overheads. Total staff costs of £4.2m12024: £4.3m) were included within direct activities and support costs. The average number of staff (on a full- time equivalent basis) in 2025 was 69 (2024: 751. The short-term portfolio is invested in a short-term money market fund with suitable liquidity and capital protection to meet short-term cash flow requirements. The objective of this fund is to provide income returns broadly in1 ine with the 1-month compounded SONIA (Sterling Overnight Index Average) rate before the deduction of charges. INVESTMENT MANAGEMENT The Charity invests its reserves to make the best possible sustainable contribution to the Charity's activities in the current and the long INVESTMENT PERFORMANCE term. The value of the portfolio on 31 December As set out in the reserves section, the Charity 2025 was £23.9m12024.' £23.7ml. The is intending to use some of its reserves over the next five year5 by divesting from its Charity divested £2.3m in the year to fund its portfolio. As a result, under its I nvestrnent activities and this disinvestment was offset Policy, the Charitys investments are spl it by a £2.Om increase in market valuation and into short-term and long-term assets. The dividend income of £0.7m. objective of the short-term pool is to provide su itable liquidity and capital protection to meet anticipated drawdowns over a 1-2 year time horizon and to avoid the need to force the sale of assets held i n the long-term pool. The short-term money market portfolio was up 4%, and the long-term portfolio was up 11 .9%, ref lecting global market volatility and performance. The Charitys investment performance objectives a re set over a three-year horizon to allow for short-term downturns. The Investment Committee has reviewed benchmark data of comparable funds provided by an independent investment adviser and is satisfied with the overall performance, given the mitigating circumsta nces of current globa I volatility and fluctuating stock markets with investors leaving certain asset classes a nd instead investing in gold. Movements in the Charitys investment holdings during the year and an a nalysis of the portfolio at yea r-end are shown in note 11 to the accounts. 11 21 APPROACH TO ENVIRONMENT, SOCIAL & GOVERNANCE (ESG) ISSUES retain reserves of between £20.Om and £25.0m. Of the total charity funds of £26.4m, unrestricted funds are £26.3m. In assessing the level of free reserves, the Trustees In selecting the Charitys investment exclude the fixed assets of £0.9m as these managers, the Investment Committee took assets cannot be quickly disposed of, which ESG issues into consideration. Columbia leaves free reseNes of £25.3m (2024: Threadneedle's approach is to integrate ESG £24.7m). This falls marginally outside the into its investment research in companies target level of £20.Om to £25.Om (2024: to build a fuller picture of the risks and £20.Om to £25,Oml due to investments opportunities of all potential investments, performing better than expected, and the based on the belief that sustainable business increased grant from the Cabinet Office. models, organisational sta bility and the ability to effect POSltive change. are more likely to Restricted reserves - which are not taken into deliver value to all stakeholders including account in formulating our reserves policy- shareholder5. Columbia Threadneedle is an were £80k as at 31 December 2025. details of active owner ie it drive5 change and helps which are set out in note 15 to the accounts. create future value through continuous monitoring, targeted engagements and strategic voting. Columbia Threadneedle includes responsible investtllent metrics in its regular reporting including: a Columbia Threadneedle ESG Materiality rating Carbon Intensity, Controversies Exposure and MSCI ESG Score. Both funds outperformed the Columbia Threadneedle benchmarks set on these metrics. GOING CONCERN The Trustees have assessed the Charitys ability to continue as a going concern. The Trustees have considered several factors in deciding whether the use of the going concern basis is appropriate when preparing these financial statements, including: a review of financial, cash flow and liquidity forecasts to the end of 2027,. consideration of key risks that could negatively impact the charity such as cost of livi ng, impact on general living and global conflicts; and reviewing the latest available valuation of the investment portFolio. RESERVES The Trustees are mindful of their duty to balance the interests of both current and future beneficiaries. The holding of free reserves is one of a range of measures that can contribute to stability and continuity of the Charity to support future beneficiaries. The Trustees determine the need for free reserves by reference to several factors which After considering these factors, the they keep under regular review, including: Trustees have concluded that there are no material uncertainties, and the Charity the pace at which income stabilises and has a reasonable expectation that there grows are adequate resources to continue in operational existence for the foreseeable fluctuations in beneficiary expenditure future and so continue to prepare the and future levels of demand for the help financial statements on the going concern and services provided by the Charity basis. the cost of fijnding the Defined Benefit Pension Scheme. Based on its current analysi5, the Trustees consider the Charity should continue to PENSIONS PRINCIPAL RISKS & UNCERTAINTIES The pension liability in respect of the defined benefit pension scheme that was closed to all staff for future benefit accrual in 2004 continues to change from one year to the next. This is largely driven by factors outside our control: performance of the assets in the pension scheme refletting changing conditions in the financial markets and the sensitivity of the pension liability to changes in interest and inflation rates. The Scheme was a multi-employer defined benefit pension scheme, The CSBF Pension and Assurance Scheme, and the Charity The Board is satisfied that the major risks accounts for its 92,9% share of the net assets facing the Charity have been identified and and liabilities of the multi-employer pension are being appropriately addressed. This Scheme which is recognised on the Charitys includes the Board's view of the impact balance sheet. ContributlOll5 paid by the of the current economic cllmate and the Charity during the year were £94k. consequences for its risk a5ses5ment, Risk is considered in key decision-making processes both at Executive and Board level. The Board reviews the major risks faced by the Charity at least annually after more regular and detailed discussions at the Finance and Audit Committee. The review includes consideration of the adequacy of the actions and mitigations being taken in response to each risk. The value of the Charrty's share of the scheme's assets remained stable at £14.4m while the value of the scherne's liabilitie5 (under FR5102 principles) remained the same in 2025 as in 2024 at £13.2m resulting in a surplus of £1.1m.The Charity does not recognise this surplus but instead shows zero as the pension assetlliability. This valuation Is undertaken using a series of assumptions and judgments. The valuation of the scheme is very sensitive to these assumptions and thus there is a risk that this valuation will change significantly during the coming year, as it has in past year5. The Charitys exposure to pension valuation fluctuations is monitored through its risk management framework and its consideration of financial rlsks. There is an effective budgeting and forecasting process in place for payments into the pension plan. The Charity also actively engages with the Pension Trustees including in relation to longer term plans for the Scheme. Overall. the Board considers its key risks to be: Alignment of business and technology decisions to maximise the ability to scale fundraisin& deliver efficient help. and improve community engagement. The Charity is working with sofMare support partners and building in-house capability to evaluate options and develop a detailed project implementation plan. Data security, whether through the Charitys systems or website. leading to a significant data breach. Mitigations include a planned review of cyber security in 2026. ongoing Staff refresher training and care￿1 tnonitoring of GDPR compliance. The inability to turn around the decline in the number of regular donors and giving levels over the last decade. Mitigations include a targeted fundraising strategy and focused interaction with the major Civil Service departments to build awareness, engagement and appreciation of the Charitys relevance. Since closing the defined pension scheme to future staff benefit accrual in 2004, the Charity operates a defined contribution group pension scheme. More details about pensions are set out in note 17 to the accounts. REMUNERATION THE APPROACH TO PAY AT THE CHARITY retain thi5 talent whilst keeping salary costs under control. For the purposes of disclosures under the Charities SORP IFRS 102}, Senior management is defined as the Chief Executive and the three other members of the Executive Team those responsible for Finance and Resources, Help, Advice and Services, and Fundraising and Communications. The Charity employed 76 staff as at 31 December 2025, which equates to 69 full- time equivalent employees. Salary and total reward for the Chief Executive is set and reviewed by the Remuneration Committee, a sub-committee of the Board of Trustees. The Remuneration Committee is chaired by the Charity's Chair and i ncl udes other members of the Board, who offer pay expertise in the Not for Profit and other sectors. BENCHMARKING The Chief Executive and the Executive Team participate in the annual performance appraisal scheme which is operated for al I staff. In the case of the Ch ief Executive, thi5 All other staff salaries are set by the Executive includes seeki ng detailed feedback from the Team. The Charity aims to reward staff Chair and Trustees. fairly for the Jobs that they do, providing a streamlined salary and grading framework Staff pay levels are reviewed annually. The for all staff, which is equitable and consistent annual pay award is reviewed by the Head with the principle of equal pay for work of of People and Payroll and the Executive equal value. The Charity aims to recruit, Team and is communicated to the Charity's motivate and retain high-calibre people to nominated union, PCS. The same benefits, represent the organisation. Pay and reward apartfrom annual leave allowance, including are determined to ensure the Charity can pensions and terms and conditions, apply recruit people with the right ski Ils in a also to the Chief Executive and the Executive competitive market. Many staff have detailed Team. Annual pay increases for the Chief knowledge, some of which is unique to the Executive and staff are aligned. In 2025, a Charity and could not be easily replaced. 2.5% pay increase was awarded to all staff. Sala ries are arranged in pay grades across the Charity, usi ng external independent benchmarking and comparison data within the Charity and Not for Profit sectors, a nd considering affordability. Salaries are clearly advertised when recruiting for new roles. EXECUTIVE TEAM PAY The Charity's purpose and vision means that the Chief Executive and the Executive Team require a breadth of experience, skills and personal qualities on a par with high-quality senior-level talent in similar organisations and so the Charity needs to be competitive in the market. They need to be able to liaise and command the respect of senior civil servants a nd executives of other partnership charities of all sizes. The Charity balances the need to 24 GENDER PAY REPORTING The Charity is not required to publish information on gender pay reporting but as recommended by the NVCO, Trustees require information on gender pay differences to be collated and disclosed as part of a commitment to transparenry and accounL3bility. GENDER PAY GAP A5 at 31 December 2025: Gender No. of Staff FTE Salary Differential FfE Salary Different5al Mean (£} {%) Median {£) {%) Male 21 £46,203 £37,906 £2,417 5.23% {£2,926) (7.72%) Female £43,786 £40,832 As at 31 December 2024: Gender No. of Staff FTE Salary Differential FfE Salary Differential Mean (£) (96) Median (£) (%) Male 23 £48.279 £36,981 £5,579 11.56% (£3.244) (8.87%) Female £42,700 £40,225 Percentage Gender per Quartile Salary Range (1- highest paid quartilel as at 31 December 2025: Salary Quartile Male Female 28% (5) 72% (13) 16%(3) 84% (16) 42% {81 58%{11) 26% (5) 74% {14) Overall 2886 (21 } 72% (54) INDEPENDENT AUDITOR'S REPORT Independent auditorfs report to the members and trustees of The Charity for Clvil Servants Opinion We have audited the financial statements of Charity for Civil servants for the year ended 31 December 2025 which comprise the Charitable Company Statement of Financial Activities. the Charitable Company Balance SheeL the Charitable Company Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the charitable companys affairs as at 31 December 2025 and of the charitable companYs net movement in funds, including the income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirement5 of the Companies Act 2006 and the Charities and Trustee Investment {Scotland) Att 2005 and regulation 8 of the Charities Accounts {Scotland) Regulations 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing {UKI (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements settion of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financi31 statements in the UK, including the FRCS Ethical Sta ndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basi5 for our opinion. Conclusions relatingto golng concern In auditing the financial statements. we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions thaL individually or collectively, may cast significant doubt on the charitable companys ability to continue as a going concern for a period of at least t￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respett to going concern are described in the relevant sections of this report. 26 Other Information The trustee5 are responsible for the other information. The other information comprises the information included in the Trustees, Annual Report. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so, consider whetherthe other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially rnisstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material mi55tatement of the other inforrnation. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fart. We have nothing to report in this regard. Oplnlons on other matters prescrlbed bythe Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Annual Report (which includes the strategic report and the directors, report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and the strategic report and the directorf report included within the Trustees. Annual Report have been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audiL we have not ider)tified materia misstatements in the Trusteeg Annual Report (which incorporates the strategic report and the direttors, report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) require us to report to you if, in our opinion: adequate accounting records have not been kept by the charitable company; or the charitable company financia1 statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 27 Responsibilities of trustees for the financial statements As explained more fully in the trusteeg responsibilities statement Iset out on page 16], the trustees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessaryto enable the preparation of financial statements that are free from material mis5tatemenL whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companls ability to continue as a going concem. disclosing as applicable, matters related to going concern and usingthe going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditoffs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material rnisstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, includingfraud is detailed below. Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Charity Commission, GDPR. health and safety regulations and employment law, and we considered the extent to which noniompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. the Charities Art 2011, Charitie5 SORP {2019}, the Charitie5 and Trustee Investment {5cotland) Art 2005 and the Charities Accounts (Scotland) Regulations 2006 and tax regulatioris. We evaluated managemenvs incentives and opportunities forfraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, management override of controls, opening balances and investments. Audit procedures performed by the engagement team included: Insperting correspondence with regulators and tax authorities; Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud: Evaluating managemenvs controls designed to prevent and detert irregularities,. Identifying and testingjourna15, in particularjournal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and Challenging assumptions and judgements made by managetnent in their critical accounting estimates Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk i ncreases the more that com pliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likelyto become aware of instances of non-compliance. The risk is also greater regard i ng irregularities occurring due to fraud rather tha n error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. knvww.fi-c.oi"g.Lil(/&Liclitoi si.espoiisilJilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Pa rt 16 of the Companies Act 2006, section 4411 Ilc} of the Charities and Trustee Investment IScotland} Act 2005 and regulation 10 of the Charities Accounts IScotland} Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 10 Queen Street Place London EC4R 1AG Steve Harper (Senior Statutory Auditor) Haysmac LLP, Statutory Auditors Date: 4 June 2026 29 Charity for Civil Servants Statement of Financial Activities for the year ended 31 December 2025 FINANCIAL STATEMENTS Unrestricted Restrlcted Funds Funds 2025 Total Funds 2024 Total Funds Note Donations and legacles other income 4.552 4.552 3,581 365 365 298 Investment Income 662 662 690 5,579 5,579 4,569 Ralslng funds Fundraising & Engagement Investment management Total costs of raising funds Charitable actlvltles 1.064 1.064 1,085 109 109 113 1.173 1.173 1,198 Alleviating need Total charitable expendlture 6.182 6.187 6,153 6,182 6.187 6,153 7.355 7,351 Net expenditure before investment gainllosses for the year Gain on investments {1.776) (5) (1.781) (2,782) 2.020 2.020 1,197 Net SurpluslDeficit 244 {5) 239 (1,585) Galn on revaluation of investment propety Gain on defined benefit pension scheme Net movement In funds for the year 11b 67 67 17 433 433 106 744 15) 739 {1,479) Reconciliation of funds Fund5 brought forward at 1 January Funds carried forward at 31 Decernber 25,567 85 25,652 27,131 26.311 80 26,391 25,652 The Statement of financial activities incorporates an income and expenditure account. The notes on pages 33-55 form an integral part of these Account5 Charity for Civil Servants Balance Sheet as at 31 December 2025 Note Flxed assets Intangible assets Tangible assets Investment assets 196 351 10 715 472 11 24.546 24,259 Total fixed assets 25.457 25,082 Current assets Debtors 12 673 554 Cash at bank and in hand 635 305 Total current assets 1.308 859 Liabilities Creditors: arnounts falling due within one year Net current assets 13 {374) {289} 934 570 Total assets less current Ilabilities 26,391 25,652 Net assets 26.391 25,652 Total net assets 26,391 25,652 The funds of the Charity. Unrestrlcted funds 25.944 25.200 Revaluation reserve 367 367 Total unrestricted fund5 15 26.311 25,567 Restrlcted Income funds 15 80 85 Total charlty funds 26.391 25,652 Approved and authorised for issue by the Trustees on and signed on their behalf by.. Sir Peter Schofield KCB Chair, Board of Trustees Company Number 07286399 31 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Note Cash flows from operating actlvitles: Net cash used In operating artivities Cash flows from Investlng artivities: Investment income 11.666) {3,124} Purchase of intangible assets Purchase of property, plant and equiptnent Payments to pension fund Rebate reinvested {15) 10 (261) (94) {14) {941 17 Disposal of investments Net cash provided by investlng artivities Change in cash and cash equivalents in the reporting period Cash and cash equlvalents at the beglnnlngof the reportlng period Cash and cash equivalents at the end of the reportlng perlod 11a 1350 3,350 1.996 3,229 330 10S 305 200 635 305 A. Reconciliation of net Incomelexpenditure to net cash flow from operating actlvltles Net {expenditure) / income for the reporting period {as per the statement of financlal activities) Adjustments for: Investment managetnent fees Gain on investments 738 (1,478) 11a 110 113 11a (2.020) (1.197) GainlLoss on investment propety Depreciation & amortisation charges Investment income reinvested 11b (67) 174 9&10 168 {662) {688) {Increase}/Decrease in debtors Decrease In creditors 12 {119) (22) {113) 13 85 Net Pension scheme interest 17 12 Net pension scheme expenses Pension scheme Gain Net cash used in operatlng actlvltles 17 517 196 17 (433) (1,665) (106) (3,1241 B. Analysis of cash and cash equivalents Cash in hand 635 305 Total cash and cash equivalents 635 305 32 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Statu5 of the Charity The Charity was incorporated in England and Wales on 16thJune 2010 (company number 7286399) and is limited by guarantee of its rnembers. The guarantee of each member is restricted to £1 sterling. The address of the registered office is No. 5 Anne Boleyn's Walk, Cheam, Surrey, SM3 8DY. The Charity meets the definition of a public benefit entity under FRS 102. It is registered in England and Wales (charity number: 1136870) and in Scotland (charity number: SC041956}. Basis of preparation The financial statements 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) leffettive 1 January 2019)- (Charitie5 SORP (FRS 102)), the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Companies Act 2006. The financial statements are drawn up under the historical cost convention except that the freehold property was valued as at 30 June 2000 and investments are carried at market value. The financial statements are presented in pounds sterling which is also the functional currency of the Charity. The Charity has one wholly owned subsidiary undertaking. CSBF Enterprises Limited (company number 03119311). This is not con501idated on the basis that the amounts in the Subsidiary are immaterial in the context of the Charity. Golng concern The Trustees have assessed the Charitys abilityto continue as a going concern. The Trustees have considered several fattors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these financial staternentsincluding a review of updated forecasts to the end of 2026, a consideration of key risks that could negatively impact the charity such as cost of living, impact on general living and global conflicts. Also, the latest available valuation of the investment portfolio has been reviewed. The Charitys principal source of income continue5 to be regular monthly contributions from individuals. both serving and retired civil servants. This represented approximately 50% of the Charitys income in 2025. As reported in the financial review, contributions in 2025 reflected a net 7.2% decline and this trend has continued to be modelled in the forecasts. The key area of uncertainty relates to any impact of market turmoil on the valuation of investments. The Trustees are satisfied thatthe Charity has sufficient reserves and liquidity within the investment portfolio to continue as a going concern for the foreseeable future. Cash flowforecasts are regularly prepared and assets in the investment portfolio can be liquidated to meet short term requirements. Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 After considering these fattors, the Trustees have concluded that there are no material uncertainties. Income Income is recognised in the accounts of the Charity when all of the following criteria are met: Entitlement- control over the rights or other access to the economic benefit has passed to the Charity. Probability- it is more likely than not that the economic benefits associated with the transaction or gift will flow to the Charity. Measurement- the monetaryvalue or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. Contributions, and any related recoverable are accounted for when they are due. Donations are accounted for when received. Pecuniary legacies are recorded as income when notified., residuary legacies are recorded when the Charity is legally entitled to the income, receipt is probable and the amounts can be reasonably quantified on the basis of estate accounts or, where not available, on the ba515 of probate asset values. Income frorn investments represents distributions, as notified bythe investment managers, that are reinvested. Grant Income is recognised when there is reasonable assurance that a) any conditions attached to receiving the grant will be met and b) the grants will be received. Grants relating to revenue are recognised in income over the periods in which related costs are incurred for which the grant is intended to compensate. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to committhe Charity to expenditure because of a past event, it is probable that settlement will be required. and the amount of the obligation can be rneasured or estimated reliably. Grants payable are accounted forwhen approved by the Charity and notified to beneficiaries. All other expenditure is accounted for on an accruals basis. Governance costs represent expenditure on strategic planning for the Charttvs future development, internal and external audiL legal advice to trustees and costs associated with constitutional and statutory requirements including the cost of Board ffleetings and preparing statutory accounts. Costs which cannot be directly attributed to individual activities reflected on the Statement of Financial Activities are allocated on a basis consistent with the use of resources, being the relevant proportions of either staff costs. time spent or assets utilised. Irrecoverable VAT is charged as a cost against the activityfor which the expenditure was incurred. Charity for Civil Se￿ants Notes to the accounts for the year ended 31 December 2025 Allocation of support costs Support costs are those funttions that assist the work of the Charity but are not direct charitable activities. Support costs include central management and office costs, finance, HR, information technology and systems, analysis and insighL defined benefit pension scheme expense5 and governance costs. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Tangible fixed assets Tangible fixed assets costing more than £1,000 are capitalised. All fixed assets are recorded at cost and are depreciated at rates to write off the excess of the cost or valuation over the anticipated residual value of individual assets evenly over thei r estimated useful lives. These rates are currently as follows: Freehold building and property improvements 34f16 p.a. on valuation and cost Fixtures, fittings & office equipment 15% p.a. on cost Other computer hardware & software 33% p.a. on cost Intanglble fixed assets Intangible fixed assets are non-monetary fixed assets that do not have physical substance but are identifiable and are controlled by the Charity through custody or legal rights. An Intangible asset is recogni5ed when it is separable or arises from contractual or other legal rights and if it is probable that its expected future economic benefits will flow to the Charity, and if its cost or value can be measured reliably. Intangible fixed assets costing more than £2,000 are capitalised. Intangible assets are measured initially at cost and subsequently at cost les5 impairment and less any accumulated amorti5ation. The residual value of intangible fixed assets is nil when calculating the charge for amortisation unless reliable evidence exists to the contrary. Amortisation of intangible fixed assets is charged as an expense to the relevant statement of financial activities category reflecting the use of the asset. Intangible assets are amortised on a straight-line basis over their useful economic lives. If the useful life cannot be estimated reliably it is presumed to be no more than five years. Amortisation comrnences on development expenditure when an intangible asset is available for use. The amortisation rates used are as follows: Software and website costs: 32q6 per annum Major system development: 20% per annum Intangible assets are only reviewed for impairment if there are indicators that the asset may be impaired. 35 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Investment assets Investments are measured initially at cost and valued in the balance sheet at fair value (their market value) at the balance sheet date. Investment net gains and losses, whether realised or unrealised, are combined and shown in the heading'Net gainslllosses) on investments, in the Statement of Financial Activities. Investment property The Charity holds an investment property at No 5 Anne Boleyn's Walk, Cheam. The ground floor is occupied by the Charity itself and during 2023 the remaining floors were let out to tenants. The property was revalued as of 31st December 2025 for investment purposes and the investment property portion of the freehold building held on a revaluation basis. Freehold property where the Charity occupied the space in the year continues to be held at cost. Investment charges The arrangement with the investment manager, Columbi3 Threadneedle, is for the Charity to invest in ￿0 pooled fund5 where the fee5 are deducted directly in calculating the value of the units in the funds. Fees from this point are not separately identifiable and are in effect netted off in arriving at the gain on investrnents. The Ongoing Charge5 Figure {OCF) for the long-term fund is 0.5%. The OCF for the short-term fijnd is 0.21%. Pensions Employer costs relating to the defined contribution pension scheme are included as expenditure when they become payable in accordance with the rules of the scheme. The Charity also contributes to a defined benefit pension scheme, which was closed in 2004 to future benefit accrual. The current service costs of the scheme, together with the scheme interest cost less the expetted return on the scheme assets for the year, are charged to the Statement of Financial Attivitie5 {5oFA). The actuarial losses on the scheme are recognised immediately as other recognised losses. The Charity does not recognise pension surpluses on its Balance sheet as FRS 102 only permits a surplus to be recognised where the employer is able to recover that surplus either through reduced contributions in future or through refunds from the plan. The assets of the scheme are measured at fairvalue at the balance sheet date. Liabilities are measured on an actuarial basis at the balance sheet date using the projected unit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term to the scheme liabilities. Any resulting defined benefit liability will be presented separately after other net assets on the face of the balance sheet. Flnanclal Instruments The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inTtially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash and bank and in hand, shortterm cash deposits together with debtors excluding Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 prepayments. Financial liabilities held at amortised cost cornprise short-term and long-term creditors excluding deferred income and taxation payable. No discounting has been applied to these financial instruments on the basis that the period5 overwhich amounts will be settled are such that any discounting would be immaterial. Investments, including bonds and cash held as part of the investment portfolio are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure. Investments in subsidiary undertakings are held at cost less impairment. Critical accounting judgements and key sources of estimation uncertainty In the application of the accounting policies, trustees are required to makejudgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and otherfactors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affected current and future periods. The only significant sources of uncertainty in our estimations that have a significant effect on the amounts recognised in the financial statements are the defined benefit pension scheme and estimated residuary legacies receivable. Further details. including assumptions used, are disclosed in Note 17 (defined pension scheme). and under Income in the accounting policies (residuary legacies). 37 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Regular contributions from individuals Contributions from employer organisations Legacies Donations 1767 1.123 396 2,981 169 201 166 127 Fundraising events 100 103 4.552 3,581 Investment rebate Lotteries 281 214 Property rental income 84 365 298 Interest receivable Dividends re-invested 661 688 662 690 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Financial Support (Note 5a) Dirert Activities Support costs (Note 5b) Costs of ralslng funds Fundraising & engagement 499 565 1,064 Investment costs 110 110 609 565 1,174 Charitable activities Alleviating need Total expenditure at 2025 1.602 2,357 2.228 6,187 7.361 1.602 2.793 Financial Support (Note 5a) Dirert Activities Support costs 02 Costs of raising funds Fundraising & engagement Investment costs 558 527 1,085 113 113 671 527 1,198 Charitable activities Alleviating need Total expenditure at 2024 1.529 2,546 3.217 2,078 2.605 6,153 7.351 1.529 39 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 2025 2025 2024 2024 One-off Ongoing Iotal One-off Ongoing (a) Analysi5 of financial sUPPOrt to help in the following circumstances- - bereavement 167 167 105 105 caring disability - domestic abuse 10 10 124 124 198 198 52 52 - emergency situation 111 health 209 217 188 25 213 poor wellbeing reduced or low incotlle 314 314 289 289 596 596 531 531 relationship breakdown unstablelunsafe living arrangements - community projects 97 97 121 121 13 1.594 1.602 1.504 25 1,529 Charityfor Civil Servants Notes to the accounts for the year ended 31 December 2025 (b) Analysls of support costs 2025 Costs of ralslng funds Fundraisirlg & engagement Charltable activities Alleviating need 122 31 103 36 46 192 35 565 124 413 144 736 140 2,228 In 2025 155 516 180 230 928 175 2.793 Analysis of support costs 2024 Costs of raising funds Fundraising & engagement Charitable artlvities Alleviating need 144 39 34 51 97 119 34 528 571 41 157 135 203 389 137 2,077 In 2024 715 51 196 169 254 563 171 2.605 Allocation is based on the use of resources, being the relevant proportions of staff costs, tlme spent and assets utilised. {c) Analysis of governance costs Board of Trustees expenses Annual Reports & accounts Audit fees 12 28 33 41 41 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 This is stated after charginglcrediting: Amortisationldepreciation charge for the year Auditors. remuneration- current year audit fees (excluding VAT) Auditors. remuneration- in relation to premous year (excludingVAD 173 168 28 27 Tr The trustees and persons connected with them have not received or obtained any remuneration or other financial benefits during the year. directly or indirectly from the Charitys funds (2024.. nil). During the year one trustee was reimbursed £21.50 for DBS check. (2024: nil). Employee and staff costs Staff costs during the year wa5 as follows.. Salaries 3.230 371 3,518 Employerfs national insurance Employeffs regular pension scheme contribution5 Total 343 559 462 4.160 4,323 During the year there was one redundancy payment totalling £39,14812024'. £137,195). Other termination payments were £20,759 (2024: £0). Average number of employees - full-time equivalents IA Fundraising and Communications Help, Adwce and Service Management and Central Services In 2025 13 20 22.57 15.35 15 30.35 31.71 16.25 18.75 21.1 30.85 38.25 69.1 In 2024 31.28 44.10 75.38 42 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Average number of employees- headcount Fundralsing and Cornmunications Help, Advice and Service Management and Central Service5 In 2025 14 21.5 24 15.5 18 33.5 35 21 23.5 32.5 76 In 2024 35 47.5 82.5 Number of employees with emoluments (including tsxable benefits but excluding employer pension costs) exceeding £60.000: £60,001- £70,000 £70,001- £80,000 £80.001- £90.000 £90,001- £100,000 £100,001- £110,000 £110,001 £120.000 £120,001- £130,000 Etnployer (less salary sacrifice payments) pension contributions paid in respect of a defined contributions pension scheme £67.198 £66,173 There has been a decrease in the nurnber of employees who earn over £60,000 from 10 in 2024 to 6 in 2025. This is due in part to several changes of key personnel during the year. It also refletts the effect of additional, reportable payments such as the redundancy settlements detailed above. The key rnanagement personnel of the Charity comprise the Chief Executive and three directors. The total employee benefits of the key tnanagement personnel of the Charity were £503,198 (2024: £574,255), including salary. employer pension contributions, Health Cash Plan premiums and employer National Insurance contributions. Our Chief Executive's remuneration was as follows: Charity for Civil Serwants Notes to the accounts for the year ended 31 December 2025 2024 Employers Pension conts. Year Position Basic Salary Total rernuneration Benefits Ers ni 2025 Chief Executive £113.444 £623 £27,812 £15.744 £31.165 £14,325 £157.623 2024 Chief Executive £129.285 £695 £175,470 * Two Chief Executives in post during 2024. The Charity has a total of 389 volunteers situated across the UK at the end of 2025 across formal and informal volunteering roles for the Charity that prornote the Charity in the workplace. encourage fundraisin& and take part in activities in line with the charitable object of the organisation. Cost or valuation Balance at 01.01.2025 921 Additions Disposals Balance at 31.12.2025 921 Accumulated amortlzation Balance at 01.01.2024 570 Charge for the year Disposals Balance at 31.12.2025 155 725 Net book value at 31.12.2025 196 Net bookvalue at 31.12.2024 351 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Freehold Fixtures. property fittings and equlpment Cost or valuation Balance at 01.01.2025 738 268 1.006 Additions 244 17 261 Disposals Balance at 31.12.2025 {6) (6) 982 279 1.261 Accumulated depreciation Balance at 01.01.2025 283 250 533 Charge for the year Disposals Balance at 31.12.2025 19 (6) 255 {6) 291 546 Net book value at 31.12.2025 691 24 715 Net bookvalue at31.12.2024 455 17 472 (a) Investment portfolio Movements in the investment portfolio in the year Market value at 1 January Dividends received re-invested 23.692 25,270 593 597 Interest re-invested 91 Net {disposals) Investment Management Fees Net investment gainJ(loss) Market value at 31 December (1350) {3,350) (1131 1,197 {110) 2.020 23.913 23,692 The investments as at 31 December 2025 shown above as managed by Columbia Threadneedle have been valued at fair value (their market value) on 31 December 2025. During the year we utili5ed our holding in the Short-term fund to provide operating cashflow. We also have a Money Market Fund to provide for short term cashflow requirements. 45 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Market value of pooled funds as at 31 December 2025: Funds Money Market Fund Long Term Fund Total held wlth Colurnbla Threadneedle 319,671 23,593,341 23,913.012 The Short-Term fund is mainly comprised of fixed income and cash to mitigate any short-term market volatility. The Long-term fund's asset weighting as at 31 December 2025 is analysed below: Weightlng (%} Long Term Fund Fixed Income Equities Derivatives 54 Cash Total 100.0 (b) Investment building Openlng balance Movements (Revaluation) 566 67 Closing balance 633 (c) Investment Sn subsidiary The Charity has an investment in one wholly owned subsidiary CSBF Enterprises Limited, a company registered in England & Wales. No. 03119311, with ordinary issued share capital of 7 shares of £1 each. The investment is held at a cost of £7. As the accounts are rounded to £OOOs, this investment is not shown on the balance sheeL and consolidated accounts are not prepared, as the subsidiary is not material to the assets. liabilities or net results of the Charity. The subsidiary had minimal activity duringthe year and does not employ any staff directly, The administrative charge to offset the cost of time spent by Charity staff on behalf of CSBF Enterprises Ltd was nil (2024- nil). In 2025 the subsidiary made a loss in the year and no donation has been made to the Charity. its reserves at year end were £6,933 (2024: £7,709}. At the year end, CSBF Enterprises Limited owed the charity £0 (2024: £0). Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Other debtors: - Repayable grants - Sundry debtors Prepayments Accrued income: 32 32 243 158 Contrlbutlons from Individuals 88 101 Legacies - Tax credits on gift aid donations other accrued income 267 88 172 Due from CSBF Enterprises Ltd 673 554 Accrued financial grants payable Trade creditors 47 26 91 61 Other credltors 13 13 Pension contributions Taxation and social security costs Accruals 81 76 113 374 289 Opening financial grants payable Financial grants recognised Financial grant payments made during the year Cancelledlrefunded financial grants Closing financial grants payable 2024 26 1,602 {1.590) 47 £47k {2024: £26k) of financial grants were approved and are due to be paid in 2026. 47 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Equipment Rentals charged in the year The total future mlnimum lease payments under operating leases are due as follows: in less than one year in more than one year and less than five years The Charity maintains various types of funds as set out below. Unrestricted funds represent the free funds of the Charity which are expendable atthe discretion of the trustees to further the objects of the Charity. Restricted funds are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. Customs & Excise Family Fund - following the dissolution of The Customs & Excise Family Fund in 2006, the fund provides Christmas grants to certain members of the Family Fund. Fenton Trust- the fund supports current, former and retired civil servants of grades executive officer and above, residing in the UK. by providinggrants for essential household bills and items and help with mobility requirements. Civil Avlatlon Authority Fund helps CA4 retired staff and their dependants. The Black Bequest Fund - the fund represents the closing funds of thejames Coats junior Ferguslie Paisley Memorial Fund. It supplies lightkeepers or their dependants who are or have been in the employ of the Northern Lighthouse Board with benefits in line with those offered by the Charity. Dementla Fund - the CSIS Charity Fund donated £28k for dementia services, with a focus on the development of digital engagement. Dancey Legacy- the fund, from Mr Dancey. is to be used to help the British Home front servants. Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Castle Legacy- the fund, from Mr Castle, is to be used to help ex customs officers. DWP Legacy- the fund from Mr Casajuana 15 to be used to help employees of the DWP. Analysis of movements Restricted Funds Opening Balance Income Transfers Expenditure between Funds Closing Balance Customs & Excise Family Fund Fenton Trust {i) CAA Fund Black Bequest Fund Dementia Project Fund DWP Legacy Dancey Legacy Castle Legacy Balance at 31 December 2025 14 (2) 12 (1) 29 29 18 (1) 85 (5) 80 Analysis of net assets by fund Intangible & tangible fixed assets Investment Net Current assets assets Defined Pension scheme Total Unrestricted funds 911 24.546 854 26,311 Restrirted funds 80 Balance at 31 December 2025 911 24.546 934 26.391 49 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Anatysis of movements for the Year Ended 31 December 2024 Restricted Opening Income Transfers Expenditure Fund5 Balance between Funds £000 £0( Closing Balance £000 £000 £000 Customs & Excise Family Fund Fenton Trust (2) CAA Fund Black Bequest Fund Dementia Projett Fund DWP Legacy Dancey Legacy Castle Legacy Balance at 31 December 2024 (2) 14 27 29 18 87 85 Analysis of movements for the Year Ended 31 December 2024 Restricted Intangible Investment Net Current Funds & tangible assets assets fixed assets £000 Defined Pension scheme £000 Total £o(K) £000 £000 Unrestricted funds 823 24,259 25,567 Restricted funds Balance at 31 December 2024 85 85 823 24.259 570 25.652 50 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 No corporation tax arises as the Charity for Civil Servants is a registered Charity, and is able to take advantage of the tax relief available to charitable bodies. The Charity for Civil SeNants participates in a non-contributory multi-employer defined benefit staff pension scheme, which was formed for all permanent members of staff, within certain age criteria, of the Charity for Civil Servants and certain other employers. The assets of the scheme are held separately from the assets of the Charity. The scheme has its own trustees who are responsible for the scheme which is administered on their behalf byAptia. The scheme was closed to all staff for future benefit accrual with effect from 5 April 2004. The Charity also operates a defined contribution group personal pension scheme which is administered by Legal & General. The Charity pays varying levels of contributions on behalf of the employees, based on their number of yearg service and levels of employees, own contributions. A full triennial actuarial valuation of the defined benefit scheme was undertaken at 6 April 2022 by an independent qualified actuary. This revealed a surplus, on the assumptions used, of £1,129,000. The employers. historic recovery plan has therefore ceased with contributions limited to 50% of the expenses. The Charity contributed £94k during 2025. The best estimate of contributions to be paid by the Charity towards expenses for the year beginning 1 January 2026 is £94k. Detailed disclosures forthe defined benefit pension scheme. in accordance with FRS102, are set out below. Present value of scheme liabilities. fair value of assets and deficit £000 £000 Fairvalue of scheme assets 14.392 14,541 Present value of scheme liabilities (13.275) 1.117 113.251) 1,290 Surplus in Scheme Following considerations of the requirements in FRS 102. the trustees have determined that these criteria are not met and therefore the surplus has not been recognised. 51 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Reconciliation of opening and closing balances of the present value of scheme liabilities £000 £000 Scheme liabilitles at 1 January Interest cost 13,251 14,386 708 674 Scheme expenses Actuarial (gain) 110sS Benefits paid and expenses Scheme liabilities at 31 December 100 (1.121) (688) 13,251 1784) 13.275 Reconciliation of opening and closing balances of the fair value of scheme assets £000 £000 Fair value of scheme assets at 1 January Change in employeffs share Interest income 14.541 15,406 767 720 Actuarial gain Contributions by employer Scheme expenses Benefits paid & scheme expenses Fair value of scheme assets at 31 December 298 (794) 93 (517) (783) 14,392 (1961 (688} 14,541 52 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Amounts included within Statement of Financlal Activities £000 £000 Interest (13) {3) (196) (199) 106 Scheme expenses {517) {530) Actuarial {lossesl Total (charged) to the Statement of Financial Activities 443 {87) 193) The cumulative amount of actuarial gains or losse5 recognised in the statement of recognised gains and losses since the adoption of FRS102 is £1.278k loss (2024: £1,721 k). Falr value of scheme assets UK equity Overseas equity Global equity Absolute Return Bond Fund 3.052 21.2 3,401 23.4 Debt Instruments 42.4 3.320 22.8 Liability Driven Investment Cash 855 Other 4.781 33.2 6,966 47.9 Total value of assets 14.392 100 14,542 100 53 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 Assumptions Inflation {RPI) Inflation (CPI) Discount rate 3.191 3.3% 2.8% 2.95% 5.5% 5.596 Allowance for increase in pensions: lower of CPI or 5% (effective from April 2017) Rate of revaluation of deferred pensions of CPI +1 % Rate of revaluation for deferred pensioners: Lower of CPI or 5% Cash commutation allowance (% tax free cash) Withdrawal allowance 2.796 2.91% 3.8% 3.95% 2.8% 2.95% Assumed life expectations (no. years) on retiretnent age of 60 Retiring today: males Retiring today: females Retiring in 20 years: males Retiring in 20 year5: females 25.0 25.1 27.8 27.8 26.6 26.6 29.4 29.3 The amounts for the current and prev5ous periods are as follows Defined benefit obligation Scheme assets 14.392 14,541 15,406 15,369 {13.275) {13,251) (14,386) {14,293) {22,044) 1.290 1,020 1.076 2,724 24,768 Surplusl(Deficit) Adju5tfflent due to limitations on recognition of Surplus {1.117) (1.290) (1,020) (1,076) (2,7241 Experience adjustment: gainl (loss) on scheme liabilities 124 (22) 34 (869) (60) Effect of changes in demographiclother assumptions re: the present value of the scheme lia bilities,. gainl{loss) Return on scheme assets: gains/{losses) assets (25) (1,099) 34 8.379 958 (298) 794 (163) (9,657) 1,678 Charity for Civil Servants Notes to the accounts for the year ended 31 December 2025 There were no (other) related party transactions in the current or previous year. me Donations and legacies Other income 3,579 3,581 298 298 Investment Income 690 4,567 4,569 Raising funds Fundraising & Engagement Investment management Total costs of raising funds Charitable actévltles 1,085 113 1,085 113 1,198 1.198 Alleviating need Total charltable expenditure 6,149 6.149 6,153 6,153 7.347 7.351 (2) (2,782} 1.197 Net (expenditure) for the year Gain/{loss) on investments Gain on revaluation of Investment property Gainl{loss) on defined benefit pension Net movement in funds for the year (2,780) 1,197 {1,583) (2) (1.585) 106 106 (1,477) (2) (1,479) Reconciliation of fund5 Funds brought forward at 1 January 2024 27,044 87 27.131 Funds carried forward at 31 December 2024 25,567 85 25.652 55 THANK YOU The Charity for Civil Servants is not able to achieve the impact as demonstrated in this report without the generous support from our donors, fundraisers and partners. Your commitment in backing the Charity is vital and underpins the work we deliver in helping thousands of civil servants. For this, the Charity extends our utmost gratitude to each and every one of you. 56