ECI SCHOOLS TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEPAENTS FOR ThE YEAR ENDED 31 AUGUST 202S Company No. 08109626 Charity No. 1150171 *AEWRGOX* 30101r2026 COMPANIES HOUSE #233 ContsDts Page Reference and Admintstrative details Tru￿ee$, Report Irthpendent ALKlilor5' Rewt 9-11 Statement of Finanual Activities 12 Balar￿ Sheet 13 Cash F￿)W stateff￿nt 14 Notes to the Financial Stsleff£nts 15-26 ECI SCHOOLS REFERENCE AND ADlJllNISTRATIVE D￿AlLs FOR THE YEAR ENDED 31 AUGUST 2025 Status The organisatw)n ts a c*witable company limited by guarantee. incorporated on 18 June 2012 and regL8tered as a chanty on 13 December 2012. Go￿rn1Th9 Docwnont The company was establish&J under meMo￿ndum and Artde5 which eslablished the objects and pTher5 of the d￿ritable coryany. Company NuM￿r 0810￿6 Charbty NuM￿r 1150171 R¢gbst•red Ofte The Stsnley 8uihJry. 7 Pancrds Squa￿. London. N1C 4AG Trust•es Rithard Parker Pascale Hertay C¢wrtney Lrywe Rathel Hovinglon Liam Browne Peggy Peloni5 Marisa Leon Abhimanyu Basu Chaimlan Vie&Chaimian Treasurer (Appointed Jun 25) {Appointed Jun 25) K Chohan EXeCUtr￿ Direc*or. cle￿ to the toard of Trustees Bank•rs Lloyd'$ Bank 3rd Fknr. 125 London Wal. London. EC2Y 5AJ Auditorn Haysmac LLP, 10 Queen Street Pl&e. LoThlon EC4R 1AG Sollcltor¥ Bates, We115 & Braithwaite LLP. 10 Queen Street Pla(*. London EC4R 1 BE Accountants JS2 Lt(l. One Cr¢y*n Square. Church Street Easi lfytking GU21 6HR The Trustees present their reF*Nt and the audited finanrAal ststements for the year ended 31 August 2025 in accordance wilh applicable law and Unrted lQ"ngdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice}. ECI SCHOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Status & Hlstory ECI Sthools was Ir￿￿ated as a company Imited by guarantee in England in June 2012. folknwing not￿ to member5 of Ihe European Council of Intema￿naI SCh￿Is {a 501{c)131 Oelaware corporation} al its November 2011 AGM in LIs￿n (POrt￿al} that the Council would ￿$trUCtUre in order lo adopt the most advantageous legal status for streamlined and efficient operations in the United Kirtgdom. The by-laws for the haritable company were passed at the November 2012 AGM for the European Council of International Schools in Nice (France), and the manner of the restructuring was eonfinr£d. ECI Schools was successfvlPy registered with the UK Charity Commission ￿ than one rn)nth later. on 13 December 2012. Resolulions to enter inlo a transfer agreeff*nl effectNe 31 March 2013 were soned by the boards of both ECI Schools and ECIS on 22 March 2013. The transfer agreement admffted all Members of ECIS lo membership of the UK harity and sel out the lenns of the acquisiti.on of all assets of ECIS by ECI Schools, which will conts'nue to trade as ECIS. ECI Schcol'$ ￿nS￿tUtXlll is contained in its Memorandum and Articles of ASscciat￿n. Oryanlsattonal Structur• ECI School's board of Irust&s eslabltshes a framewuk for the ¢xganisation, the day-to4ay operatton and management d&gated to the Ex￿trIe Direct￿ (hereafter referred to as ED) Kam Chohan. There are nine trustees. who c4)nsist of the offie481 representatNes of Member Schools". stx ofwhom are elected by the Members I"Elected Truslees'l al a generd nweting or via electr￿￿ PTOXY. and three of whom are appointed by the trustee$ ("Appointed Truslees"). An Electeil Trustee shall retire from office at the third annual genwd ff*eting folbwiThJ the t￿nUal general meeting at which they began servv stsnd for r￿le¢knn for a second three-year temi n accordance with any policy which the trustees may deude. Any trustee may propose lal candKlale(s) for the Appointed Trustees. Apw)inlmenl of Appointed Trustees shall be by secret ballot and by simple majonty of the trustees. wrth the new Appointed Trusteels) to be announced lo the membership at the ECI Schools annual general meeb'ng {AGMI. which is attached to Ihe Leadership Conference. An Appointed Tnjstee shall serve a 3-year lem in office and may be re-appointed for a second 4ear term in accordance with any policy whth the trustees may decmle. Trustees are re¥￿nSible for Manageft￿t of ts charilable ccffipany's business. All members of the board of Irustees gNe their time voluntarty and receY4e no benefits from the charitab company. apart from the pnvate t*nefits that are ￿1rded to all Members. The ECI Schools txiard of trustees folltrK the ECI Scho)Is' Standards of and Governance Policies io ensure that trustees fulfil Iheif role according to hiqh ethical slandards. aryj to ensure that those xtual or perceived conflicts of interest are propwfy managed. Together with the Governance Cornmittee. the Chair of the board of trustees ts ￿SPOnSible for the induction of any new trustee which involves awareness of a trustee's responsibilths, governing documenlls). administrab've procedures, histw. and philosophKal approaches of the charitable company. The new trustees rgceive an Induth"on pack for ECI Schools wh￿h indudes the Induction Manual lintr(pJuclton to ECI Schools), Articles of Association. Board Poky Manual, UK Corpjrale Governance Code, Charity Commission Guidance Trustees. Declaration of Interest narrative and forms. and o)p*s of the minutes from the hvo previous board meetings. Online training and induction a￿ provided to new board rrembers and in September 2022 there was a board rel￿al in London. Trnining tr all Trustees is ongoing during their tenure with the ECIS B¢)ard. The Chair also provKles onboardin9 training. Sub4ommitte•s and Task Force8 The board of ITUStees has forrned three sUb￿￿￿tees." the Exeurtive Committee, Govemance Committee. and Finance Committee. Other sUtrtrCM)M￿ees are fom)ed athoc. as are task force& ECI SCHOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The role of the Executive C(xnmittee io advise the ED and ¢)vefsee the strale9y and development of the organisatK>n. The Executive Committee consists of Ihe offKer poSitK￿S of Chair. Vtt£hair, and Treasurer of Ihe board of trustee$. The role of the Governance Ccrfnn*ttee is. in collaboration with the ED, to identfy individuals wt)ose ski115 and exp8rtise can positbvely affect the organisation. as well as to oversee the ongoing education of board membeTS in the wacbce of charity governar￿e. The Govemance Cwmiltee consists of up to three members, one of whom should be an officer. The role of the Finance Comnyttee is to reviv4¥ all finances in colkbOrnt￿n with the senior management team, as wel as lo consider operational risk and to revivw the audrted accounts. R•muneration of Key Management The pay of all Staff is reviewed annualty ty the ED and norrnalty increased in accordance with average earnings to rellect a tostvof-lmng adjustrrent. In view of the nature of the charity. the pay is benchfflarked against pay levels in other ch*it*s with principal offtts in London. The ED sakiry is set the l)oaTd of trustees. Rlsk & Corporate G0Veman￿ PAattorn ECI Schcols places strong iellar￿ on the risk analysis and the control environwit operated by ECI School$. In addition. ECI Schools rnainta.ns a risk register that details Ihe major risks the organisation faces and identifie5 the controls in place to milwate those risks. The register atso covers compliance requirements and intemal control prc¢edures. as well as investment ris The major risks that ECI Schoo15 fraces are {11 the failu￿ to ren*w and recruit ff*mbership to achieve the membership target and121 th8 failure of one or n¥xe of its major cty)ferences. Several actions are in place to minimise these risks. The risk register is kept under review on an on-going basis ty the senior manageffenl team of ECI Schc*)Is and is formalty reviewed on at least an annual basis by the board of trustees. 11 is recognised that a risk management systsm can only seek lo manage. rather than eliminate, factors that impact on the abilty to achieve business oty'ectNes and provide onfy reas¢)nable assurance againsl material misslalement or loss. ECIS has a formal risk management prcrtess through which the major risks to which the orgariisation may bg exposed and has ranked Ihese by likelihood and impact. culminating in a risk control document which is updated on a regular basis by the sen*)r management team. and shared 7Mth the Board of Trustees. All significant risks, together with current mitigation xlions, are reviewed regularty throughout the year by the Iruslees. The trustees are satisfied that ￿sterns have been developed and are in place lo mitigate identified risks to an acceptable level. rinci al risks ￿ uncertainbes identified b the chari are as folknvs: Risk Miti ation 1. Failure to renew and recruit rr￿MberShIp Annual membership plan with targets. scheduled in order to achieve the wembership target debtor folk)W-Ltp, weekty reporb"ng. Continuous roverrEnt of membershi offer. RBk has been mth"gated by careful planning of budget5 and contracts. As deiNery is mainly virtual. expenses are substantialty lower. Hosting conference in member schwls. Disaster recovery and business conts'nuty plan in place to ether with C ber Insurance. Clanficalion of our relat￿nShip with the US Slate Department (affi1￿1￿1ft tsn￿, for educational funding purposes),. This relab'onship goes from Strength lo the strength with ts REO as an advisory ￿￿rnber ol the board. 2. Failure of key ￿)nferen 3. Disruption of business due to event olTrtscal natural, ber. etc. 4. Membership andlor furKling bss due to our affiliative relationship with US State Department. and any geop￿rt￿l ¢onsequences of US aclions around the world. ECI SCHOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 5. Political Unrest Peo le not bein ab￿ to travel to certain countries. ECIS is an agile organisab.on that conts.nues to pNot to schools needs and prwbes. This sY￿e$S of this strategy is c￿r in the strong financial results produced by ECIS over the ￿st 5 years. The ED meets quarterty wth the finartt committee and board. ECIS continues to maintain cbse relalions th member schcKJs, we have provth valuable professional development and a community. including Middle Leader Courses. a list of free PO from ECIS Specol Interest Groups and ￿gUlar meetsngs with schc4)Is. Our biggest growth area remains lo be Lwpoke trainings. these trainings are devek)ped in consultation with schod. Our bespJk8 training has proved to be very FopuLar. and the demand continues to grow. This training is provided both virtuaty and in person at schcd premise5. deliver trainings to school leadefs. middle leaders. and teachers. are f￿nder members the lntemats.onal Sch¢)ols Anti-Discrimination Task Force and the founders of the Intemati¢Y￿I Task FL￿ for Child Protect￿ offering trainings in 4 languages and country spe￿fic for China and India. We offer conferences every year in rnain￿ European countries. Professional Indemnity Insurance Professional indemnity insurance provides insurance cover for chanty trustees against ctaims that may arise from their legitimate actions as trustees. As a matter of W, tharitses require authority to purchase this typè of insurance. In the case of ECI Schocls. that authority is obtained from its governing d(Kumenl. the articles Irf a5wcialion. Trustees. Responsibilllies In the Prnparatlon of Flnancl•l Statements The trustees. who are also the directors of ECI Schools for the purposes of rAMnpany law. are reswnsible f preparing the trustees, annual report and the financial ststements in accordance with applicable law and United lQngdom Accounting Standarfs (United Kingdom Generally Accepted Accounting Practice). Cornpany law requires the trustees to Prepa￿ financial statements for exh financial year which give a Irue and fair view of the stste ol affairs of the charitable company and group. and of the incoming resources and application of resources. including the income and expenditure. of the charitable gTOUP for that peri¢)d. In preparing those financial stslements. the tNstees are required to.. seleci suitable xcounting pol￿e5 and Ihen appty U*m consistenty. observe the methods and prinuples in the cfian1￿s SORP.. make judgefflenls and 7K¢>)unb"ng estimates that are reasonab￿ and prudent.. stste whether appl￿ble UK Aceounb"n9 Stsndards have been folowed subpct to any nBtsrial departures disclosed and explained in the financthl statements". and prepare the finarrial statements on the g￿ThJ concem basys unless it is inapw)priale to presume that the charrtable compwry wll conlinue in business. The tnsstees are re5ponsibk for keeping proper acwunkn.ng records. whith disdose with reasonable accuracy at any time the financial position of the tharitstAe ccffnpany and enab￿ them to ensure that the financial stslements cOm￿Y with Companw 2006. They are a150 responsible for safeguarding the assets of the charilable company and the group. and hence for taking r8asonable steps for the prevention and detection of fraud and other irreguJaritte¥. The Iruslees are responsible for the Maintenance and integrity of the corporate and financial Infomlatlon included on the Charitable corrpany'$ website. Legi*ty'on in the Unrted lfjngdom governing the preparation and dissemination of financial slateffents may drfter from the legislat*)n in other jurisdicticKs. OWECTIVES AND AcTI￿nEs Charllable Obl¢ctlve8 The tharitable objectives forwbich the charrtable Lxvrpany was e*bli5hed are set down in the goveming document as f01h￿S.. Th8 8dYancement ofeducation for Ihe pubfvc benefi¢ in pathularbut not exclusNgty, bypromoting and f8cilitating b&sl practKe and hwh standards in t8aching andintstmotionol educab'on. ECI SCHOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Charitable Activitle8 ECI sch￿1$ has referred to Ihe guidance C￿trin￿j in the Ch* camn￿￿n.$ guidance on public benefft when reviewing its aims and objectNes in Flanning fvture xtivities. In particular. trustees conshjer Ihat anned adivilies contribute to the overall aims and objectives of the tharitablg company. ECI Schc#)Is will conb'nue to fo(>J5 the aims of ECI Schools in Order lo build and WKlen the membership base, increase member satssfath'on. and increase the offen'ngs available to Members Key activities will focus on rewityng new Memters. retaining exisling Members, expanding and improving the seNices offered to existing and polentsal Members, whiist nurturirvJ Members, involvement with professional leaming in both digitsl and in-person fomiats. Our main activities and ￿orn we aim lo help are dewbed bekMT in the section olthis report on Achievements and Perf0M￿nce. Ml our actsvities focus on supporb.ng our missK)n and charitable obpctwe for the advancement of international educalion and are undertaken to further our charitable purpose for the public benefit. Publlc 8enelll The trustees have taken the Chanty Commiswon'$ $￿ifiC guhlance on public benefft (contained within the d¢)cument'The Advan￿ment of Educatim for the Publtc Benefifi into c¢￿51￿eral￿n irb preparing their statements on public benefit c￿tained within this trustees. annual report. B¢neflt8 & 8enelkl•rfe8 In accordance with rts charitable obJ"ectiwes, the charitsble company aifrs to transform lives through inlemalional educatK)n. All Charitab￿ actIv￿eS focus on enabling this transformation through professional leaming. research, advisory. adv(xary. and funding progTammes {grants, fellowships). The charitable company's primary benth*ies are theref￿ its ffen*er scho¢)Is (481 rnember schools, 41,000+ teachers, 355,000+ studen15), as well as the fvll community of internat￿n01 xhools115,000+ hools". 1.000,OOO+ leachers, administrators. and g¢)vemors,' and 12+ million pupils}, as identified by ISC Re$earch12024). many of vthom access ECIS products and services as non-membgrs. In return providing financial suppor( Members recerwe nwny benefits in the fomi of Child prOteCt￿n and governan￿ training (online). re¢kK&1 pncing for ECI Schools conferences and services, as well as funding (grants and fellu4vships). Tru#te•s' Assessment of Publlc Benefft In order to determine whether the chaTty has fulfiTred its charitable oi¥eclives for puL4ic benefft, the trustees gather evwjenee of the success of the chafitable company's activities. ECIS unive￿ty Scholarshlp (8urs*ry) The ECIS University Scholarship provtdes up to £10.OCM) for fffst-year university stL￿leS anywhere in the world and is available to sludents Igraduateslleaversl from Level 3 member schooLs. who musl submit an application and be evaluated land selected) by the select￿ Committee. The award is up to £10.000 awarded to Ihe successful candwjate, and paid direO lo the universty. Subject to university confiM￿tion of enrolmènl. accompanied by a fees invoice. ECIS Research F•llowshlp The research fellowship is a grant that provides recognitk?n and financial in￿ntiVeS to a wipient for their WQTk toward the advancement of internats'onal education via an xademic roule. A stipend of up to £5,000 is available. folltyving suwsfvl app1KatM￿ and selecth)n. R•lationshlps wlth Rolal•d Partl•s ECI Schools is related to the European Council of Internab'onal &hooLs, Inc. (known as'ECIS Inc... DBA- Doing Business As- Educational Cdlaborative for International Schools). a company incorporated in the stale of Delaware in the Unrted Slates of Ameita and registered as a foreign company with Companies House in the Unrted lQ'ngdom ynder ccffipany number FC008297. ECI SCHOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 ECIS. Inc is a 100% $ubsTdiary undertaking of ECI sCh￿)Is. aThJ the ￿rI￿)erS of the board of dir￿lorS of ECIS are the members of the board of trustees of ECI Sc*ools. The purpose of the subsidiary is to transfom lives through intemational education. The su￿diary is exclusivety educational and scientifK in charxtsr. It 1$ Iso non-profft ortentated. with no part of its net inwme to benefrt any private shareholders Represenlallon on Olhor Bodkns The ED of ECI Schools is a r(￿nber of the advisory board for the NEOM project in Saudi Arabia". ECIS are a founding member of the International Task Force on Child Protecb"on. ECIS also are now partnefing with the Intemalional Baccalaureate and launched a joint Intemabonal Schools An1￿￿.￿Min￿.0n Task Force. s".Ilisadtf.o ACHIEVEMENTS AND PERFORMANCE Revlew ol Acllvltles FY26 Confernnces This year we delNered 5 conferences. Three confwences sold. ￿ will continue wrth vKtual events as they are low cost lo run and hdp us to reach new audien￿. We provhded for our school members 50+ free trainings and workshops. These events have been very suwssful, we continue io pNot to market needs and reate new training. We continue to grow our p)rtfolio of training and contsnue to listen to school communities globally to provide the trainings wuire(i by schoo15. Apww'm*ty 23.000 parb"cipants registered this ye for ECIS trainings this year. Collaborntlon- Orylnlsatlons and Edu¢atlon41 Assoclatlons ECI Schools believe that collaboration with other organisabons and edI￿al￿n￿ associab'ons en¢ourage$ sharin9 of knowledge and discussion of effective prath.￿ in educat￿n. We are buihding partnership5 With universitie5. This is a re￿nt publication with UCL. h s'.11 is.or ntenuu loads120241101Leader5hi nnected-i55utr4. We ¢onlinue lo nets¥ork exlensNety with other likfrminde(l organisatM)ns I￿￿ding, but r￿1 Iwnited to.. Council of Inlernakn'onal SthcxAs Middle Slates ASSou"at￿ft of S¢1￿¢￿$ & Cc4kges New EngL4nd Association of Sthools & c￿ Westem AsKKialion of Schools & College5 The College Board Association for the Advancemnt of Internati￿al Educalk)n Intemal￿n3I Baccalaureate Duke of Edinburyh 1ntemab.onal Awaftl Academy ol International School Heads IntematK¥nal Schools Serv East Asia Regional Coun￿1 of ¢￿er5e8$ Schools Central and Easlem European Schools Ass¢xiab"¢)n Medrterranean Associabon of International Schools Near East South Asia Council of ￿er$eaS Schcds Asscciation ofAmerun Schools in South knrica Tri-Assoeiation (Central Amwica, Colomb￿. Caribbean. Mexico) The Assoctralion of Intemational sch￿1$ of India Nordic Ne￿ork Ajliance for Inlernal*)nal Education Swiss Group of Intemab'onal Sclwls Association of German IntemalK)nal Schtx4s Dutch Intemational Secon¢Jary Scl Dufrh Intemat*Jnal Primary Sehth)Is ECI SCHOOLS TrUSTEES ANNUAL REPORT FOR THE YEAR ENDÈO 31 AUGUST 2025 National AssLKiation of Sndependent Schoc4s Council of Bllli5h InlematKJnal Schoc4s Friends Council on Eduealion c￿adIan Accredrted Independent SthooL8 FINANCIAL REVIEW Financial Outcome of Activltles & Events For FY25. ECI Schc4)Is, together wth its subsidiary ECIS Inc, t¢￿k in revenues of £1.846.834 {2024.. £1,979,833) and had expenses of £1,571.458 (2024.. £1.786.601) resulting in a surplus of £275.376 {2024'. £193,232). ECIS conts'nue to improve internal controls and have a robust budgetary monrtoring and review system. We have anatysed all risk elements. arKI have rnrt¥ated against risk. goirwj fop*ard. in sqnificant ways that make us feel appropriatety confident about the ftrture. Trustees continue to revi￿ cash tkMI and b￿jgets and feel that Ihe W￿￿1$a￿on remains a going concem. Reser¥es Pollcy ECI Schools lolal funds as at 31 August 2025 totalled a po%tNe of £1.117.495 (2024". £842.119). Al fvnds as al 31 August were unreslrKted. Excluding amounts t*d up in tangible fixed asseis. unrestricted funds were a positive of £1,117.49512024.' £842.0931. ECI Schools policy is to mainlain free reseryes of srA16) months of operatNig costs whth equate lo £546,031 12024.. £535,662). Free reserves are unrestr¥Xed. undesignated fvnds not bed up in fixed assets. The Board of Trustees reviews the reserves annuJty. Free reseThes are currenlty in ex￿SS of the tar9et figure. During the year the trustees will consider propos￿$ as lo the use of the excess in xcordance vnth the Charity's obJ"ectiVgS. InV￿lM*Trts Policy ECI Schools is reliant on membwship subscriplions and fees for its leaming and developrrÈnt products. services, and actwkn"es. Any investsrent assets are held as reserves. Investment is concentrated in real assets leash). These rea assets Icashl are hekl to pro¥￿e tha￿la1 sKurty WMI INuidity, in case of requirement at short notice. Our reserves are held with Lkjyd's. Our policy allows for inveslment in other assets, though since 2013, the Chanty has maintained a strictty liqu￿ po%t￿n and has no plans to aKer this in the imme(liate future. FUNDRAISING We are mindful of the code issued by the FundraisirrfJ reguL*ir. did not use any thyd parbes in our fundraising activities and no coftwainls were receNed in the current and p￿r yeats. PLANS FOR FUTURE PERIODS We are now seen as market ￿aders for bespoke training wilh xhools aTrJ sthool groups. DEIJ, Child Protection, Middle Leader, and Leadership trainings we will continue to work wilh our partners to promote our services. We have launched in India ECIS IrKlia specrfic Child Protection training. We are also workiryj with ICMEC delNering specialised child proteth.on training to our schools. We continue lo work on growing ffombership. We continue to focus on memtership grovAh and retention, the new membership and partnerships are Proving popular. and the board are a150 helping with selling to their nefv￿rkS. We launched this (Aine pUbl￿n to hyhlight some of our members globally. ECI SCTrIOOLS TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The plans for the European Council of Intemational Schools Inc, a subsidiary of ECIS. is for the company to be made dormant as there wll be no ath.vty going through rt after the year erKI. The dec1SK￿ may be lo close it down in the near fulure. Our presen￿ In th• International khools S•¢tor ECIS have presented at numerous conferences arKI continue to woth with partners. Our repulth'on at ECIS is now of an outslanding provider of training and a collaborative partner for intemationally minded sch1￿15 and educatv)n organisa11￿$ global Statement as to Disclosur• of Inforniatlon to th• Auditor The Trustees at the dale of approval of this annual report confirm that so far as each of them i8 aware, there is no retevanl audit informatjon of which Ihe charity's audrtor is unaware. and the Tnjstees have taken all steps that they ought to have taken to make themsdves aware of any rdevant audrt infomwtion and to estsblish that the auditor is w*are of that infomRtion. This report has been P￿pared in acccffdarKe with the special provtsions relth'ng to small compan*s withln Part 1 S of Ihe.Companies Act 201￿. This ￿port was approved by the Tnjstees 2310112026 d S￿ned on their behaW by.. .. Tru8lee Rithard Parker INDEPENDENT AUDrr REPORT FOR ThE MEIABERS OF ECI SCHOOLS FOR THE YEAR ENDEO 31 AUGUST 2025 Oplnlon We have audrted Ihe financial slalefflents of ECI SchooLs for the year ended 31 August 2025 which comprise the Consolidated Slaten*nt of Financial Athrties. the Group and CO￿￿nY Balance Sheets. ConsolK4ated Cash Flow Statement and notes to the financial statements, i￿luding a summary of signthcant accounting policies. The financial ￿pOrts'n9 fraI￿Ork that has been applied in their preparth.on 15 apphcable kaw and United Kingdom Accounting Stsndards. indu(iing Financi* Rwbng Slandard 102 The Fina￿la1 Reporb"ThJ standard apph"cable in the UK and Republic of Ireland (United Kingdom Generalty Accepled Accounb'ng Praclrel. In our opinion. the financi4 $laterTEnts.' give a true and fair view of the state of the group's and of the parent tharitabk company's affairs as at 31 August 2025 and of the group's and parenl Charitab￿ company's net mvement in funds, including the income and expenditure, for the year then ended.. have been propedy prepared ￿ accordance with United ￿ngdorn Generalty Aceepted Acts)unting Practice; and have been prepared in accLYdance with Ihe requirements oflhe Companie5 Act 20C6. Ba¥18 for opinion We conducted our audrt in accordance wrth Intefflalion￿ Standards on Auditi'ng IUKI IISAS (UK)) and applieable law. Our ￿$¢onSIbIlitieS under those stsndards are further described in the Auditorfs responsibilitses for the audrt of the financial stsleffents section of our reporL We are independent of the group in aceofdance wth the ethical reqU1￿ments that are ￿levant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fuffiled our other ethKal responsibilities in accordance with these requirements. We bdieve that the audit ev*Jence we have obta'ned is suftient and appTopriale tr) provide a basis for our opin#Jn. Con¢lu51ons relatlng lo golng Concèrn In auditing the financial slalements, we have conduded that the trustees. use of the g¢ing concern basis of accounting in the preparation of the finaKial sL*ments is appropriate. Based on the work we have performed, we have not identified any material uncertw'nlies relating to events or condrtions that, individually or collectNely. may cast signifKant doubt on the group's ability to continue as going concern for a period of at ￿ast ts¥efve months from when the financial statetr￿ts are authorised for issue. Our responwbililies and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this reporL Other lThfornwllon The trustees are resp)nsible for the ottler infonTBtion. The other information coryises the infomialion induded in the Tnjstees, Annual Re[￿ Our opin*)n on the fina￿101 st*￿ts does not cover the other infomial•)n and. except lo the extent othe￿iSe explicifjy stated in our repor( we do not express any form of assurance conclusion Ihereon. In connection wth our audit of the financial statements. our wnsiblty is to read the other InfOrrna￿n and, in doing so, consider vthether the other information 15 materialty inconsistent with the financKql statements or our knowledge obtained in the audit or otheThvise appeats to be rroterialty misststed. If we hdentify such material irwnsisten¢ies or apparent m*erial misslatements. we are r&Juired to detemine whether there is a material misstatement in the fina￿la1 statements or a materd misstatement of the other infomation. If. based on the work we have perfomwd, we Condude that there is a material misstatement of this other inf0rnat￿n, we are required to report that fact. have nothing to report in thi5 Tggard. Opinions on other mattern prnscribed by the Companles Act 2006 In our opinion, based on thé work undertaken in the course of the audir. the information given in the Trustees. Annual ReFwrt Iwhth indudes the strategic rèport and the directors. report prepared for the purposes of c4ynpany law) firbanryal year for vthich the financial statements are prepared is consistent the financial State￿￿nts. and INDEPENDENT AUDrr REPORT FOR THE MEMBERS OF ECI SCHOOLS FOR ThEYEAR ENDED 31 AUGUST 2025 the strategic report and the directors, report included within the Trustees, Annual Report have been prepared in a￿r{lanCe wrth ap￿Thble requirements. Matters on which we ar• required lo report by •x¢•pti In the light of the krtC￿e￿ge and understsnding of the group and the parent charitable company and rts environment obtained in the t￿ul$e of aud¢ we have r￿t idenbfied material misststements in the T￿￿tee$. Annual Report {whth incorporates the strategic report and the directors, report). We have nothing to report in respect of the following matters in relat￿n to which the Companies Act 20 requires us to report to you rf. in our opinion". adequate accounts.ng records have not been kept by the parent charitable company. or the parent charrtable c￿mpanY financkib statements are not in agreement wlh ts xcounliig records and returns.. or ertain disdosuffts of trustees, remunerab.on specified by l&v are not made.. or we have not receNed all Ihe inf0m￿tIon and explanations we require for our audit., or the Irnslees were not entrtled lo prepa￿ Ihe financial stateft*nts in accordance with Ihe Small companies. regime and tske advanlage of the small compariw. exenytws in preparing the ttustees. report and from the requirement to prepare a strategic reporL Re*pon$lbllllles of trnslees for the Ilnanclal stst•menls As explained MO￿ fvlly in the tNstees' ￿SponsIbl1rtieS statement set page 4, Ihe trustees (who are also the directors of the charitab￿ company for the purposes of company law) are responsible for the preparation of the financial statements and for being s*'$f￿1 that they give a true and fair y￿, and for such intemal control as the Iruslees detemine is necessary to enable the preparation of financial stalem8fbts th* are free from material misstatement. whether due to fraud or error. In preparing the financral stalements, the trustees are responsible for assessin9 the group's and the parent charitable ￿MpanY'S ability lo contsnue as a going con¢em. disclosiry, as applicable. matters related lo going c￿Cern and using the going concem basis of aceLJunting unless the trustees etlher intend lo Iiqukd*e the group or the parent charitsue company or to cease operation5. or have no realistic alternalNe but to do so. Auditorf$ responslbllltles for the audit of the financi￿ statements Our objecb.ves are lo obLiin reasonatAe assurance about whether the financial stateffthts as a whole are tree from Materi￿ misstatement, whether due to fraud or error. and to tssue an audrtorfs report that includes our opinion. Reasonable assurance is a hgh level of assurance. but is not a guarantee that an audit conducled in accordance with ISAS IUKI wll ahlays detect a material misstatement when rt exists. Misstatements can arise from fraud or erTor and are consKlered rnatenal rf. irrfjividually or in the aggregate. they could reasonabty be expected to influence the economic decisions of users laken on the basis of these finanaal ststements. Irregularrt*s. irduding ftaud. are instanc*s of norKomplkince laws and regutalions. We desvjn procedure5 in line with our res￿n￿bilitIes, outlined above, to detecl material missktements in ￿speCt of irregularilie5. including fraud. The extent to which our procayures are capable Of detecting irwulanlies. including fraud is detailed betow". Based on our understarvjing of the group the envyonment in whith il operates, we identif*d that Ihe principal risks of non-compliance wrth laws and regulations rdated to Company and charity * appluble in England and Wales. and we Cg)nsbje￿d the extent to whth non<0mplian￿ rnight have a material effect on the financial statements. We also consKlered those laws and regulalions that have a direct impact on the preparation of the financial statements such as the Companw Ad 20(hS and the Charibes P&t 2011, and consider other factors such as Incon￿ tax, payrol lax and sales tax. Vle evaluated managernw￿$ incentives and opp￿In[￿S for fra￿ulent manipulation of the financial statements {induding the risk of ovefflde of contro15). Audit procedures Ferformed by the engagement team induded.. Inspecting corresp%)ndence ￿gulatorS and tax aullw)rities', DiscUss￿n5 wth management including considefab'on of or susfftd instarrtes of non- Complian￿ with laws and regulati¢)n and fraud." io INDEPENDENT AUDIT REPORT FOR THE PAEMBERS OF ECI SCHOOLS FOR THE YEAR ENDED 31 AUGUST 2025 Evaluating managemenys controls dewgne(i to prevent and detect irregularities., Identifying and test.ng ioumals. in partscularjoumal entries posled with unusual account combinations, Fostings by unuwal users or wrth unusual descfiplions" and Chalberwjing assumptK)ns and Judgements made by management in their uitical accounting estimates 8ecause of the inherent limitat￿5 of an audit there is a risk th* we will not delect all irregularrtie5. including tho$e leading to a material misstatement in the ffinancial State￿nts or non<0mplian￿ wrth regulal*)n. This risk irKreases the more that Compl￿r￿ WTth a law or regulalron is ￿MOVed from the events and transactions reflected in the finan￿?1 statements, as we wil be less like￿ to become aware of instances of non FOR THE YEAR ENDED 31 AUGUST 2025 Total 2025 Tot*1 2024 INCOME FROM: Clmrllable actlvftles Advancement of education Investments Other trading activities 1.819.930 26.904 1.970,100 9,733 Total Incom• 1.846.834 1.979,833 expENDITURE FROM: Charitable aclivit Advancement of education Trading costs 1,571.173 285 1.786,311 290 Totsl •xp•ndituM 1,571.458 1.786,601 N•¢ Incom• 275,376 193,232 Net movemont ln fvnds 275,376 193,232 RECONCILIATION OF FUNDS Funds brought fonvard 842,119 848,887 Funds at 31 August 2025 1.117.495 842,119 The notes on pages 1 &26 form part ofthese financial statements. The slalewmt of finanryal adivitie5 indudes all 9aA)s and losses re￿nised in the year. I funds in both years are unrestrth. Al activilies noted aty)ve were from continued OFerations. 12 ECI SCHOOLS Company No: 08109626 BALANCE SHEET AT 31 AUGUST 2025 2025 2024 Group Charity Group Charfty FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors Short terni deposrts and cash in hand 675.094 1,569,354 680,614 1.567,574 442,796 1.313.084 449,711 1.309,619 2.244.448 2,248.188 1.755.880 1.759.330 cuRREP￿ LIABILMES CREDrroRS: amounts falllng due wlthln on• year 12 11.126.953) (1.126.953) 1913.787) 1913,787) NET CURRENT ASSETS 1.117.495 1.121,235 842,093 845,543 NET ASSETS 1.117.495 1.121.235 842,119 845,569 FUNDS Unre8trlcted funds General funds 16 1.117,495 1.121.235 842,119 845,569 TOTAL FUNDS 1.117.49S 1.121,235 842,119 845,569 The surplus ofthe pa￿nI Charity Ihe year was £275,666 (2024.. £193.5221. Approved by the Trustees and authori%ed for their rssue on 2310112026 and signed on their behalf by.. Richard Parker The notes on pages 1&26 fom part of these financi* statements. 13 ECI SCHOOLS CONSOLIDATED STATEMENT OF CASH FLOWS Company No: 08109626 AT 31 AUGUST 2025 2025 Group 2024 Group Cash fl¢Ms from operatlng act1v1t￿. Net cash provided tyl{used inl ijperatry ath"vrties 18 229.366 251,656 Caih flows from investlng *Ctlvllles: Interest income 26.904 9,733 Cash and cash equivalents at the beginning of the reportin9 period 1,313,084 1,051,695 TOTAL CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 19 1.$69,354 1.313.084 (i) ANALYSIS OF CHANGES IN NET DEBT August 2024 Cash flo￿ Auguyt 2025 C•$h and ¢ash equlvalents Cash 1,313.084 256,270 1,569,354 TOTAL 1.313.084 256,270 1.569,354 The notes on pages 15-26 form part of these financial stateff£nts. 14 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 GENERAL INFORMATION Charity is a company lirmed by guarantee. ir￿Tated in England and leAimpany number." 08109626} and a chanty ￿lstered in EngL8nd and Wales (charity number. 11501711. The Charty's registered office address is 24 GreWe Street Lond￿. EC1N 8SS. ACCOUNTING POLICIES The prinapal accounting poI￿leS adopted. judgements and key sources of eslimation uncertainty in Ihe preparation of the financial statewÉnts are as fr)Ilows.' Basls of preparatloD The financial ststements have teen wepared in FOR THE YEAR ENDED 31 AUGUST 202S ACCOUNTING POUCIES {conllnu•dl Funds Generat funds comprise the accumulated surplus ￿ deficil from the State￿￿nt of Financial Activities which is not restricted nor deswnated funds. They are availab￿ for use al the discretion of the Trustees in furtherance of the general objectives of the Chanty. DesKJnated fvnds cornwse funds that have been set aside at the discretKin of the Trustees for specffic purposes. The purp)se and use of the deswJnated unreslricted lunds are set out in the noles to the accounts. Restricled income fund$ comprise unexpended b*nces of donations and grants held in trust lo be applied for speafic purposes. Employee b•n•frts Short lemi ben•fft8 ShcMI term benefrts induding hdiday pay are recognised as an eynse in the period in which the Ser¥￿e is received. Temiination berth are aC￿Unted for ￿ an acuual basts and in line with FRS 102. Pension $cheme ECI Schools operates a defir*d conlribution pension scheme ft>r the benefft of rts employees. The assets of the scheme aTr heky independently from those of ECI Sehoo15 in an independently administered fvnd. The pens￿n$ costs charged in the financial statements represent the contribub'ons payable during the year. Forelgn CUIrnn￿ translallon The charities fvncts'onal and Presentati￿ currency is Found sterling. Monelary assets and liabilities denominated in foreign currencies are translale(l into sterling at the rates of exchange ruling al the balance sheet date. Transactions in forewJn currencies are recorded al the rate ruling al the dale of the transaction. Al differences we recognised in the Statement of Financial Actsvits"e5. Legal status ECI Schools is a cOMp￿Y limited by guarantee ar¥J has no shwe caytsl. In the event of the Ghanty being wound up. the lthlty in respecl of the guarantee 15 Iwnrted to £1 per of the charity. ECI SCHOOLS NOTES TO THE FINANCIAL STATEMENTS (Continu•d> FOR THE YEAR ENDED 31 AUGUST 2025 INCOME FROM CHARifABLE ACTivmES 2024 Membetship fees CcffjfErences, events and traning Grant income other dirttt actNty ir 749,191 987,340 64.607 18,792 717,377 1,118,472 131,884 2,367 1,819,930 1.970,103 Grant income incfudes a grant from the US Stste Department the total grant received was £155,782 12024.. £203.844) of whth £91,175 12024.. £71.9601 related to membership and event attendance invoices already shown in income, the ar￿Unt shown as grant income of £64.60712024." £131.8841 is the remainder ofthe granl. EXPENDITURE ON CHARITABLE ACTMllES 2025 Dir•¢t Grnnts payablo Support 2025 Total Leaming Research Adv(￿aGY Fundirwj 591,795 33.rfi5 33.C65 3.307 643.692 229.398 12,817 12.817 1.282 1,464,885 45,882 45,882 14.524 9.935 e61,232 643,692 9.935 256.314 1,571,173 2024 Drrect Support 2024 Total payabl• Leaming Research 580.454 32,428 32,428 3.243 897.601 214.940 12.008 12.008 1.201 1.692,995 44.436 44.436 Funding 648.553 897.601 240,157 1.786.311 Di￿￿ slaff c¢￿ts include a recharge from European C¢)uncil of 1ntemath￿aI Schools. Inc of £NI12024'. £Nill wthich do not fomi part of staff costs as shthvn in note 9. 19 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMEPIts {C¢>ntinued FOR THE YEAR ENDED 31 AUGUST 2025 SUPPORT COSTS 2025 2025 Total Funding Govemance Building Office Professi￿al Other 86.650 43.954 60.529 8.766 29.499 4,841 2.4 3.382 490 4,841 2,456 3.382 490 96,816 49.112 67,631 9.795 32.960 246 338 165 229.398 12.817 12,817 1,282 256,314 2024 2024 Total Fundlng Govemance Building Office ProfesSi￿al Other 80.267 29,820 63.000 18.039 23.814 4,484 448 167 352 101 133 89,683 33,319 70,392 20,156 26,607 3.520 1,008 1.330 3.520 214.940 12.Q)8 12,008 1,201 240,157 6. GOVERNANCE COSTS INCLUDE: 2025 2024 Audit and xccxmtarKy f Other costs 77,799 19,017 72,970 16,714 98.816 89.684 7. NET EXPENDtruRE FOR THE YEAR: 2024 This is stsled after tharginglCra1￿"r￿j Auditors iemuneralion (excl￿JIng VAT).. Audit Under-acuual re. Pr￿ year Opwating leases 18.93S 717 45,168 27 18,034 2.837 32,518 4,709 In 2025 no Trustee received any remunerati￿ or pensK>n. {2024'. none}. No Trustee was either reimbursed or expenses were paid on their behalf during Ihe year12024.' Nfme). Trustee Indemntty insurarKe was taken out at a cost of £2,014 (2024.. £2.014). 20 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMENTS {Contlnued) FOR THE YEAR ENDED 31 AUGUST 2025 8. SUBSIDIARY ECI Schools is related to the European Counol of Internatirybal Sthools, Inc {known •s "ECIS.), a ompany incorporated in the State of Delaware in the United Slates of America and registered 85 a foreign company with Companies House in the United Kingdom urKler company numker FC008297. ECIS is a 100% subsKliary undertakn.ng of ECI Schools and the ffefflbe￿ of the board of directors of ECIS are the members of the board ofTrustees of ECI sd￿01 purw)se ofthe subsidiary is to be Ihe leading collabofative global network, protrrt)ting and supporhng the ideas and best PraCt￿S of intemational education. The sub&diary ts exdusNely educational and scienkn.fic in character. It is also nowjrofft orientated. with no part of it5 net irthmè givin9 rise to a benefit to any ￿ate shareholder. Annual financial statements fof this subsKliary company are fi￿d with the Registrar of Cornpanie5 for England and Wales and are pUbl￿Y available. The accounting reference date of the subssdiary is 30th June. The subsidiary's results for the 12 rTh)nths to 30 June are shovm beh)w'. 2025 2024 Turnover Administratron expenses {285} 1290) Profft I ILiJss) for the year {2851 1290) Current assets Current liabilities 1,785 15,5201 3,465 16,9151 Total assets 13,7351 {3,4501 Retained eamings ￿f￿r1. 13.4501 {3,1601 Retained eamirys ¢Ifv￿. 13,7351 {3,4501 The amounts lo ECI Schools at 31 A￿uSt 2025 was £5.520 {2024. £6.915). 21 ECI SCHOOLS NOTES TO THE FINANCIAL STATE￿1￿8 (Conllnued) FOR THE YEAR ENDED 31 AUGUST 2025 g. STAFF COSTS AND NUMBERS 2025 2024 Staff costs were as folws: Salalles and wages Social securty costs Pension Contribut￿n$ Healthcare costs 513,024 47.781 .646 9.781 480,911 71,726 7,461 e61.232 648,554 2025 Number 2024 Numb•r The number of employees whose emduments for the year fell within the following bands were- £go.￿l- £100,ofJ) £130,001- £140.000 £140,001- £150.CK Employer pensions for employees whose effK)lunwts *ere above É60.000 were £77.500 (2024.. £73,381). The total employee benefrts of the key mana3emenl personnel ofthe Group which includes the Trustees who were not remunerated during the year and the senior management team were £226.070 12024.. £228.6041. 2025 NuM￿r 2024 Numbor The average number of employees based on head count during the year was as lolk)ws.' Charitable actNities Support 22 E¢1 SCHOOLS NOTES TO THE FINANCIAL STATEMENTS Icontinu•d) FOR THE YEAR ENDED 31 AUGUST 2025 10. FIXED ASSEfs {GROUP AND CHARITY) Total Furnitur•. f￿1Th9¥ & Equiwnent Cost At 1 September 2024 Ad¢Jition$ 12.626 Balance at 31 August 2025 12,826 Attumulated depvvclatlon At 1 September 2024 Charge for the year 12.599 27 Bala￿? at 31 August 2025 12.626 N•t Book Value Carrpd foThvard at 31 Au9USt 2025 Brought forw¥d at 1 Septemter 2024 27 11. DEBTORS: amounts falling du• on• y•ar 2025 2024 Group Charity Group Charfty Trade debtors Amunts due from European Counol of Inlemational schools. Inc. Other debtors Prepayments and acuued 403.sc 403,508 5.520 339,239 339,239 6,915 19.732 251.854 19.732 251.854 31.706 71.851 31,706 71,851 675.094 680.614 442.796 449.711 12. CREDITORS." amounts fallng du• within one year 2025 2024 Group Ch•iity Group Charfty Trade creditors Other Taxation and Social Security Other credilofs Accruals Deferred income {see note 13) 114.870 17.490 8,059 42,946 943.588 114.870 17,490 8,059 42,946 943,588 83.480 15,252 9,372 33,773 7T1.910 83,480 15,252 9.372 33,773 771,910 1,126.953 1.126.953 913.787 913.787 23 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMENTS (Conllnued) FOR ThE YEAR ENDED 31 AUGUST 2025 13. ANALYSIS OF DEFERRED INCOME 2025 2024 Group and Charlty Deferred income at 1 September Applied during the year Released during the year 771,910 943,588 {771.9101 969,463 771.910 {969.463) Deferred inrrn at 31 August 943.588 771,910 Deferred income indudes membership income for future fnancd years totslling £814,969 and income is deferred be&iuse it relates to the membership periods from 1st September 2025 to 31st August 2026. 14. OPERATING LEASE COMMtTMEPITS- CHARifY AND GROUP As at 31 August 2025 the chanty had annual commitments under norKanCelIab￿ operakn'ng leases as follw: Equipment 2024 £'ooo Land and bulldlng8 2025 2024 rooo £'ooo 2025 £'ooo Leases vthich expiv•- V￿thin one year Within two to fve yea 37.050 35,800 15. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS 2025 2024 Total Funds G•Th•rnl Fund# Ti>tal Funds Funds Fixed assets Current assets Current liabilrttes 26 1.755,880 1913,7871 26 1.755,880 1913,7871 2.259.fAJ8 {1.141.5131 2.259.008 {1.141.513) Net assets at 31 August 1.117.495 1.117,495 842,119 842,119 thin the gTOUP. the net assets within the ch*ty are £1.121.23512024." £845.569). 24 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMENTS ICwtlnu•d) FOR THE YEAR ENDED 31 AUGIIST 2025 16. STATE￿NT OF FUNDS 8alanc¢ 31 Augusl 2025 1 S•pt¢mber 2024 Expendlturn Trarffjtsrn General lun¢ts 842.119 1.846.834 {1,571.173) 1.117.495 Gmup t(rtal 842,119 1.846,834 11,571.173) 1,117.495 STATEMENT OF FUNDS (Prfor y•ar) Balan 31 August 2024 2023 ome expgndltur• Trnnsforn General fuThJs 648,887 1.979.833 (1.786.601) 842.119 Group tolal 648,887 1.979.833 {1.786.6011 842.119 17. TAXATION The charity is exempt from cor[￿li0n as all its incomè L8 chantab￿ and LS aP￿led for charitsble purpose. The charity is not exempl from VAT whith is with the expenses to which it relates on the Statement of Financid Athities. 18. RECONCILIATION OF NET INCOME TO NEf CASH INFLOW FROM OPERATING ACTivrriES 2025 Group 2024 Group Net in¢om• for lh• rnporting p•rlod 14$ p•rthè Slatem¢nt of Flnan¢ial Athttiu> Add back depreciation charge Interest reCep￿d Ilrlcr&￿e) l Decrease in debtors IncRase l (Decrease) in uedi 275.376 193,232 27 {26,gMI (232,2981 213.165 4,709 19,733) 278,884 (215,436) Net Gash from operating actlv511es 229.366 251.656 25 ECI SCHOOLS NOTES TO THE FINANCIAL STATEMEKfs (Contlnu•d) FOR THE YEAR ENDED 31 AUGUST 202S 19. ANALYSIS OF CASH AMD CASH EQUIVALENTS 2025 2024 Charity Grryip Charfty Cash at bank and In hand 1,589.354 1.$67.574 1.313,084 1,309,619 20. POST BALANCE SHEET EVENTS There are no ¢ther post balance sheet events Ihat have taken plxe up to the date tre accounts have been approved. 21. RELATED PARTIES AJI Trustees hold senw pos￿0￿$ * ￿hoOlS who work closety wilh ECIS. ECIS prov￿* membership servi￿$ to these schods. Our Tru$tee5 aL80 attend events. conference5 and training provided by ECIS. 26