2025-07-31-accounts

Charlty number: 1172979 St Mory's College Oscott ao Trustees, Report ond Flnanclol Stotements For the Year Ended 31 July 2025 dlDAINS

AUDIT

St Maru's College Oscott CIO Contents Poge Reference and Admlnistrative Detalls of the Charlty. fts Truste•s ond Advisers Tru5tee¥ Report Independent Audltoffs Rèport on the Financiol Statements 16-79 Statement of Flnonciol Activitie5 20 8olance Sheet 21 Statement of Cash Flows 22 Notes to the Finonclal Stotements 23-46

St Mary's College Oscott CIO RefÈréncÈ and Admlnlstratlve Detolls of the Charfty. Its Trustees and Advisers For the Year Ended 31 July 2025 Trustees The Most Rev 8 Longley MA STL. F. H Professor Dr J Chomp. F. H# (resigned 27 Februory 2025) The Rlghi Reverend D Evans. F Mr M Feeley. D. l (appointed 9 October 2025) Ms A Fouto, LCG (oppobnled 9 October 2025) Mr C Goskell BA(Hon5) LLM MA, R. LCG Mr J Gibbon5 LL8 (Hons). FALA, LCG# Mr A Gront FRICS DL. I. C)# Mr G Green. AFM (oppolnted 9 October 2025) Hr P Horgon KSG FCA. AFM. R# (resigned 27 Februory 2025) Mrs J Mellor 8A PGCE MA(Ed) MA. H# Mrs C O'Brien 8A. LCG# (resigned 27 Februory 2025) Mr B O'orlscoll. R#. LCG Mr M Swlnburne BA FC& I#, AFM#. R Rev Fr C Szmldt. F (appolnted 9 October 2025) The Right Reverend R Wolker LLB STU F#, LCG F denotes membershlp of the Formotion sub-committee I denotes membershlp of the Investment sub<ommlttee AFM denotes membership of the Audit. Flnance ond Molntenonce sub-committee R denotes membership of the Remuneration & HR sub-commlttee LCG denotes membership of the Legol, Compllonce and Governonce sub-commlttee H denotes membership of the Heritoge & Fundroising sub-committee D denotes membership of the Development (Fundrolslng) svb-committee

denote5 sub-commlttee cholrperson

Churlty reglstÈred number 1172979 Prlnclpal offlce Oscott College Chester Rood Sutton Coldfield West Midlonds B735 Independent audltor Daln5 Audlt Llmlted 2 Chomberloin Squore Birrninghom 83 3AX 8anker$ Notionol Westminster Bonk plc 6 Parode Sutton Coldfield West Midlands B72 1PL Page I

St Mory's College Oscott CIO Reference ond Adminlstrative Detolls of the Charlty, Its Trustees and Advlsers (continued) For the Year Ended 51 July 2025 Sollcltors Goteley plc One Eleven Edmund Street Blrmlnghom B3 2HJ Investment advisers Sorosin & Portners Juxon House 100 St Poul's Churchyord London EC4M 88U Page 2

St Mary's College Oscott CIO Trustee¥ Report For the Year Ended 31 July 2025 The Trustee5 present thelr onnuol report together wlth the oudiied finonclal statements of the Chority for the 1 August 2024 to 31 July 2025. Objectives and activitles a. Policies ond objettives St Mory's College Oscott CIO Is a Seminory for the formcrtlon of Cathollc men for the priesthood and for the dioconote. The oim of the formation progromme Is to form prlest5 and deacons who wlll be men of foith, hope ond love. who know themselve5 called to shore the minlstry ond mbssion of Chrlsl. Deocons, configured to Chrlst the Seryonl ond priests, to Christ the Teocher. Sonctifler ond Shepherd. ore ordained wlthln the Church to build op05tolic folth- communltles wbthln society by the power of the Holy Splrit. Both priests ond deocons seek to develop the common good Sn the bullding of communitles of servSce towards others. especlolly those who need sUPPOrt beyond thot which Is offered by natlonol ond local government servlces The primary funclion of Oscott College therefore 15 twofold.. to help those who hove been accepted by their Ordlnories os potential condldotes for the Cothollc prlesthoDd or permanent dioconate to dlscern further thelr vocotion: ond to form them for service 05 priests or permonenl deocons. This rneons helplng students develop o clear sense of their identlly 05 priests or deacons ond of their mission wlthin contemporary culture. The CIO constitutlon olso provldes for. the preservotlon. molntenance. upkeep ond equlpping of the College building for the education of students.. the provlslon of lond for. ond the upkeep. mointenonce and odministrotlon of. o Roman Cotholbc cemetery for burlol: the ongolng formotion and troining of those in Holy Order5 in the Roman Cothollc Church: ond such other lowful choritable purposes connected wlth the mointenonce ond propogotion of the Romon Cothollc religion os the Archblshop shall from time to ttme declde. Varlous relevont policie5 of the college ore noted in the following report. In settlng objectlves and plonnlng for actlvitie& the Trustees hove given due consideratlon to generol guldonce publlshed by the Charlty Commlssbon relotlng to publlc benefbt. Includlng the guidance 'Publlc benefit. running o chorlty (PB2)'. b. Strategles for achlevlng objectlves The college hos close links wlth the Colhollc Dioceses of Englond. Woles, ond Scotlond. through whlch ft oims to asslst with the promotion of vocotions, ond the tralnlng of men for priesthood ond dloconote. Vorious local ond notionol Inltlotives ore planned durlng the yeor wlth this in mlnd. The college building is independenily ossessed every 5 yeors. and there is a rolllng progromme of maintenonce. with lorge project work concentroted during non-term time. Page S

St Mary's College Oscott CIO Trustees, Report (continued) For the Year Ended 31 July 2025 ObJectlve5 and activltles (contlnued) c. Volunteers The college has o dedicoted teom of volunteers who ossist with college tours ond events. There ore plons to Increose occess to ihe museum colleciion followlng its relocat(on downstalrs in 2024. Following 0 successful recruitment drive in 2024, the College now hos o dedicoted team of oboul 18 volunteers who ore avolloble to ossist wth College events. d. Main activltles undèrtoken to achleve oblectlves and further the Charity's purposes for the public beneflt Propiygotion of the Cathollc Falth As in previou5 year& the College hos octively supported the propagotion of the Romon Cotholic foilh. and hosted o nationol Eucharlstlc Congress (Adoremus) in September 2024. In July 2025 Oscott welcomed over 2.000 vlsitors 05 port of a four doy long Cothollc festivol 'We Belleve.. The event. organised by the Gulld of Our Ludy of Ronsom. was well recelved ond Is due to be repeoted at Oscott ogain in July 2026. An Improved College webslte ond socS0l media platforms continue to communicate 05cott's work ond promote vocations to the priesthood ond the permanent dlaconote. PubllcEvénts ondaccess In oddltion to the use of the College focilitie5 for visiting clergy ond school groups, Oscott olso hosts events. public lettvre5 ond vi51tor Sundoys when the College ond Museum ore open to the public These events include weekly guided tours of the bullding ond public Sundoy Evening Proyer during term time. All these publlc events ore odvertised on our webslte www.05cott.org, and on our sooal medla. os well os in the locol parlshes ond online. Oscott College Library including the Speclol Collectlon The Llbrary h05 o quolified part-tlme Librorian. With his asslstonce, the College hos developed Its on-line resources. inclucjing subscrlptlons to journols. Consclous that the Librory is one of the most significont Cothollc librarie5 Sn the ountry, we contlnue to buy the lotest relevont books In Forge numbers. whlle seeklng to plug gaps in speclollsollon& A recent project to cotologue the speciol Ilbrary collectlon of 15th century 19th century books ond pamphlets. hos been undertoken. so thot they can be more easily occes5ed bu those who ore interested. Thls will enable greoter understandlng and use of the collettion for study ond research purpose5. Thls prolect wfll ￿quIre further work. Achlevements ond performonce o. Main achlevements of the Charity The moln ochlevements of the Chorlty ore reflected in the ordlnotlon of Prlests ond Deocons ot the end of eoch ocademic yeor. os noted below. Poge4

St Mory's College Oscott CIO Trustees, R&port (contlnued) For the Year Ended 31 July 2025 Achlevements and performonce (continued) b. Key performance indicotors The KPIS for the college are.. Number of seminorions studylng to become priests Number of men studylng lo become permonent deocons Number or prlest5 and deocons ordalned durlng the year Investment income Molntenance expenditure Number of cemetery grove plots sold Success of events promoting the Romon Coihollc Falth ond supporting vocotionol discernment c. Review of actlvlties rhe Sen71nory Formotlon Programme (Students for the Prlesthood) In September 2024 Oscott begon the ocodemic yeor with 36 sembnorions representing 14 dioceses ond 1 religious congregotlon (September 2023.- 36 semlnarions). There were 7 new seminory students (2023.. 4). 2 men left the College prlor to completlng thelr studies during the year (2023.. 3). Of the 7 men who completed their finol year at Oscott. 4 were ordoined os priest5 oncj I wos ordoined a deacon. The overoll seminory programme consists of four dlmenslons of formotion.. humon, splrltual. Intellectual ond postorol, In each yeor of the progromme there Is on overoge of nine intellectuol courses with o totol of 120 credits. The Unlver51ty of Birmingham valldotes the first three years of the ocodemlc programme with o 8A (Hons) degree in Cotholic Theology. Oscott is offilioted io KU Leuven ond issues o STB cononical degree after slx years of study. Both Unlversitles conduct regulor feviews of our progromme content ond qvallty ossessments, Wrbtten and Informal feedbock Contlnues to be posJtive ond encouroglng. The students hove courses on spiritvol ond humon formotion which are not credited. The stvdents olso spend o month on a pastorol placement eoch Jonuory in their home dioTrse. during the whole of the slx-yeor progromme. Many ore expected by their dI0￿seS lo undertake further postoral plocements durlng the summer weeks. In yeor four. the students Spend the first semester from September to Chrtstmas on an extended parish plocemenl In their home dlocese. Thls glves them on opportunity to put Into proctice everything they hove learned In their flrst three yeors of formotlon. It olso gives them o longer opportunity to experience the life of o priest in o porish In order for them to reflect ond prepore for moking deeper comm)tmenl to thelr preporotlon for prlesthood. The gool of the formotlon progromme Is the discernment of. ond preparation for. o life-long vocotion to o challenging ond fulfilling Ilfe ond minlstnj. Inevitobly. some choose to Step down from formotlon ond unsultoble condidotes ore osked to leove. Others contlnue to the joyful doy when they leove the semlnory ond are ordolned priest& The Permanent Diaconoteprngramme (Students for the Permanent Dlaconate) The Permanent Dioconote progromme is a 4 yeor part-tlme non-resldentiol course. In September 2024 there were 42 men enrolled on the progromme (September 2023.. 42 men). representing 8 Dloceses. At the end of the yeor. 10 men (2025: 10 men) were ordolned Deocon ond storted thelr dlaconol min5stry. Poge 5

St Mar￿$ College Oscott CIO Trustees, Report (contlnuèd) For the Year Ended 31 July 2025 Achlevements and performance (contlnued) Development of8ul/d/nq Resources Wlth the continulng support of the Trustees, the College has been oble to continue on ambitlous progromme of restoratlon of the College bulldings both for the soke cf good moinlenonce ond the enhoncement of living and workln9 spoces. During 2024-2025. the mv5eum wos reloc(rted to the Northcote Hall. ond the ortefocts ore now on show in new illuminoted displou cobinets. We hove established a new museum store where ortefocts con be stored sofely and conveniently which meons thot we can now chonge the dlsploys to tell different storles with relotlve ease. Hovlng the museum on the ground floor meons thot visitors ottending College Tours. Heritoge Free Flow aftemoons ond other events, con occess this space with ease. The upstolrs room. Aulo Bromwich, which wos formerly deslgnoted os the museum has now been decorated ond is ovoilable to host larger meetlngs of up to 150 people. We hove Instolled o stalrllft on the stoircose neorest the chapel whlch enobles occess for those with Ilmlted mobllltu. The toilet faclllty adjacent to Aulo Bromwich hos been modified to provide two toilets. one of which hos disabled occess. We have olso fltted o small kitchen focllity neorby. whlch enables preporation of hot drlnks. The gym wos also relocoted to on external bullding to free up spoce internolly for o new librory. Cemetery and Grounds We continue to develop the cemeteru ond hove mode plons for o stoged prO￿s5 of recloimlng lond ond developlng grove plots including an ottroctive site for the burtal of cremoted remolns. We also work with the Probation Service. and provide o locotion for those on communlty poybock schemes to work In the grounds. The olm Is to provlde baslc grounds malntenance troining, and skills to help with future employment prospect& Envlronm•ntul considerotlons The College Is continulng to work hord to Iry to reduce utillty costs where po￿lble. and to reduce its impatt on the environmenL The College olso mokes every effort to compost kitchen waste. ond recycle as much paper ond card refuse os posslble. We hove fltted secondory glozing in mony ports of the bullding includlng bedrooms ond clossroom5. ond this ha5 dramoticolly improved the insulotlon of the buildlng ond meons thot le55 energy is vsed for heotlng. Energy savlng bulbs ore olso used where posslble wlth automotlc swltches to tum lights off In low trofflc areo5. Co/lege&te Glven their historlc noture. the molnlenonce ond preservation of the buildlngs is on important part of the College's activities. Inevitobly. with o building of this oge there Is o certoin omount of reoctlve mointenonce. A schedule of malntenonce Is drown up eoch ueor. Expendlture Is prloritlsed bosed ori the risk assoclated wlth each oreo. such thot high rtsks ore deolt wlth os a priority. Consultonts ore used to ossess the Fire, Plumbing ond Building related i55ues faced by the College. The Trustees opprove oll such expendilure either directly or through the Mointenonce Sub- committee. At leost two quotations (Jre sought for oll work over £10.000. Spend against budget Is monitored throughout the yeor by the Molntenonce Sub-committee of Trustees. with the mojority of lorger projects toking plc7ce outside lerm time. Poge 6

St Mar￿$ College Oscott CIO Trustees. Report (cont5nued) Forthe Yeor Ended 31 July 2025 Achievements and performance (continued) d. Fundrolslng activities and Income generotlon The College does not oclively fundroise from the public. other thon vio its website. ond promoting legocy gifts In wills to its supporters. The College is o member of 'Your Cotholic Legocy, www.yourcothollclegocy.org.uk to promote Ihe work of the College omong those considering leovlng o gift or legocy in their wllls. As port of this the College offers o free will wrltlng service. to supporters. A legacy promotion day is occoslonolly held, Jointly with CAFOD. No complaints regarding fundralslng have been recelved durlng the year. Flnancial rovlew a. Financlol revlew The College recognlsed an overoll surplus of £386k (2024: surplus of £1,019k). Thls reflected on underlylng operoting loss of £(958)k (2024.. £(1.162)k loss), ond net golns on Investment5 of £1,3Hk (2024: £2.171k net golns on Investments). In 2024 there wos olso 0 £10k galn on revaluollon of investmerrt propertu (2025.. £NIL)- Income The moin income varionce from £2.600k in 2024, to £2.346k In 2025 wos the £357k reduction In income from Investments. This reflects the chonge in strotegy of the new Investment monogers towords growth rother thon income generoting stocks, as well os the turbulence in the world economy. Gross fees per student were kept ot 2024 rotes, to help moke them more affordoble to dloceses. ond flat semlnorian numbers meont the student formotlon income wos similor to the prlor yeor. Seminorlon numbers continue to be o focus of trvstees, and we ore worklng wlth vorlous Cotholic orgonisations to try to promote vocollons to ihe prlesthood ond permonent dioconote. Eypendlture Choritoble expenditure reduced from £5.664k in 2024 to £3,230k ir) 2025. M05t of thls reduction come from reduced molntenonce ond buildlng costs os there hod been significant projects completed in 2024. Addltionol 50vings were ode Sn utlliiy costs by renegotlotlng utility controcts. ond olso lrnproved energy sovlng meosures. Stoff costs show o sllght reduction yeor on yeor. A5 0 Llvlng Woge employer. poy rotes were Increosed for lower pold stoff, however most employees hod o pay freeze ond there w05 0 progromme of redundoncles In Autumn 2024, Impocting senlor monogement. the kltchen. domestic ond grounds staff. Desplte the sovlngs made os o result of the reduction in heodcount. the 2025 figures 0150 include the cost of one off redundancy poyments. os well as the Increased nolionol insuronce taxes from April 2025. Further breokdown is shown in notes 8 ond 9. Student formotion costs reduced from £933k in 2024 10 £866k In 2025, dve to reduced lecturer. pilgrfmo9e ond chapel cost& College sire costs In 2025 of £1.081k [2024-. £1.371k) reflected £275k reductlon in mointenance, ond over £52k reduction in ulllity C05t5. offset by Slightly Increosed employee costs Kltchen & Dornestic costs which include meol provi5i0n for the resident community. os well as cleoning ond laundry for the college. sow o reduction from £582k to £528k. Most of the soving wos due to lower employee costs following redundoncies. but food ond consumobles costs were also reduced. Poge 7

St Mory's College Oscott cio Trustees, Report (contlnued) For the Yeor Ended 31 July 2025 Netga/ns on Investments The net golns on the investment portfolio of £1.3Mk ore significontly lower thon In 2024 (2024.. £2,171k net goin). The net galn include5 a realised loss on disposols of £(30)k (2024.. £3.713k goln), ond the unreoli5ed goin colculoted by reference to the movement in valuotlons of inve5tment5 held ot the ueor end, of £1.574k (2024- £(1.542)k loss). Otherrecognlsedgalns There were no other recognised golns or losses. In 2024 there wos an unretslised revoluotion goin of £10k on revoluotion of the investment propertie& b. Golng concern After mokiro oppropriote enquirie5, the Trustees hove o reosonoble expectation thot the Chority hos odequote resources to continue in operotional exlstence for the fore5eeoble future. For thls reoson. the Trustees continue to odopt the going concern bosis In preporing the ftnonclol stolement5. Further details regarding the odoption of the golng concem basis con be found in the accounting policies. c Reserves policy The Accumuloted Funds of the Charity omount to £47.9m (2024.. £47.5m) ond ore moinly represented by investments ond Land ond Buildings. The Sncome generoted from the investments is necessory to fund the ongoing ond developlng Ottivitie5 ond is not ovoiloble for other purposes. Furthermore. port of the reserves Is represented by unreolised profits or revolualion surpluses on the Investments ond ossets used in corrylng out the Chorlty's octlvlties. It Is 015Q considered by the Trustees thot port of the reserves should be used to maintoin the property in o condition which recogni5es not onlu the work of troining new priests but olso preserving the bulldlngs In o conditlon flt ond proper lo thelr hlstorlcol importonce. 8uriol plot5 ore sold on 0 75 yeor Iicence. which con be extended to 99 yeors in totol. This obllgoles the Charlty to sultobly molntoln those plots over the licence period. In vlew of this future Ilablllty. the Trustees consider it prudent to set up o fund for cemetery molntenonce to contribute to the cost. The Trustees have decided to deslgnote or set oslde the funds for speclflc purposes os follows., Invesfmentrevoltsotion fund- £2.Om This ￿preSentS the surplvs volue obove cost of the investments (Includlng Investment property) which fluctuote on o doy to doy bosi& The Trustees believe thot st Is inoppropriote to consider that thi5 vnreollsed surplus Is ovoiloble for the ongolng work of the College. i) Heritage ossets revaluat￿n fund- £1.9m This represents the revoluotion of Herltoge ossets held bu the College. The Trustees believe thot It Is inopproprlote to consider that this unreoli5ed voluotlon surplus is ovoiloble for the ongoing work of the College. The n(rture of the items included 05 Heritage assets are such thot they ore o fundomentol port of Oscott. ond wovld not be freely convertible into generol funds for the choritable purposes of the Chorily. Poge 8

St Mary's College Oscott CIO Trustèeg Report {¢ontlnued) For the Year Ended 31 JLFly 2025 Land ondbuildlngsrevaluotion fund-HJ.Om Thi5 represents the surplus on revoluallon of College land (£2.2 million) and bulldings (£10.9mllllon) held by the College less occumuloted depreciotlon slnce the voluotion. The Lond and Buildings were lost profe55ionolly revolued as ot 31 July 2015. The Trustees believe that it Is Inapproprlote to consider ihot thls unreallsed valuation surplus is ovoiloble for the ongoSng work of the College. (Iv) College mointenonce fund- £5.Om This is an estimote based on opproximote5y 10 yeors. worth of avero9e molntenonce expendllure. This does not cover ony major building or refurbishment projects. but the day to doy repoir ond upkeep of o building thot is over 150 yeors old. Cemetery mointenonce fiJnd- £4.2m This Is on omounl set oside to meet the estimated cosl of providing future mointenance to the ex15ting burS0l plots during the remolnder of thelr 75-year leoses. Other smoller f unds ore dlscussed further In note 18. The Trustees con51der that the level of reserves Is opproprlote to generate the ovailable income requlred for the College ond io provide for the maintenonce of the hlstoric buildlngs and ortefatts. The Trustees ore hoppy with the level of funds held. 05 they belleve it prudent to retoln at least 5 yeors, worth of costs In general funds. given the risks focing the college's Income from student fees, ond investments. The level of reserves Is regularly revlewe(J by Trustees. d. Investments pollcy and performance Investment PropertyAssets The Charlty owns Grove House, close to the College. which historlcolly was used for College stoff In the 1980's but Is now occupbed by clergy from the Blmilnghom Archdiocese. The Chority 0150 owns freehold ground leoses ogolnst which It receives ground rent& These investment property ossets were revolued by GJS Dlllon In July 2024. The Trustees ore sotlsfied thot voluotions ore oppropriote os ol 31 Julu 2025. Investmentpolicy The Chority hos an investment portfollo, the income from whlch is used to support the work of the College. The fund is primorily invested In quoted shore5 and fixed interest gilts ond bonds rated "A- or higher. The Investment objectlves are for a secure level of income together with some capital appreclotion In order to mointoin the real volue of the fund. The Trustees (through o commlltee) recelve professional advlce on the structure of the portfollo cnd oll investment decisions. The Trustees, ethicol policy is thot. Ihe chority seeks not to invest In unL4ertaklng5 directly or moinly involved in monufocture ond/or supply of goods and services which would not be in accordonce wlth the teochings of the Gospel ond the soclol leachings of the Romon Cotholic Church. The chority's investments ore reviewed regulorly ond advice Poge 9

St Mary's College Oscott CIO Trustees, Report (contlnued) For the Year Ended 31 July 2025 sought from competent sources with regard to ethicol concern& The chority moy contlnue to invest in componies Involved In ocrivities which may glve rise to ethicol concerns Whe￿ these octlvltles ore consldered minimal In relatlon to thol company's overoll buslnes5. Where appropriote. the charity will engoge in diologue and seek to moke Sts views known to svch componies in whlch It invests." The performonce of the Investment monoger Is reviewed regularly ond benchmorked ogalnst recogni5ed performance measurements. During ihe yeor. the inveslment subcornmittee conducted o selectlon proce55 ond invited six firms to tender. shortlisted three ond appolnted Sorasln Portners. The monagement of the Investment portfolio wos tronsferred from Evelyn Portner& to Sorosln Portner5 In July 2024. e. Prlncipol rlsks ond vncertolntie5 Risk Manogément The Trustees monltor the risk register ond developments since the lost review ot each moln Trustee meeting. Ihree times a yeor. The Tnjstees consider the princlpol risks ond uncertolnties to be as follows.. Student numbers The College obtoins the majority of its Income from fees charged to Diocese5 and religious orders for the formation of condldotes for the Prlesth¢x)d ond the Permor)enl Dloconate. Income is therefore dependent on continuing oppllcations from men who hove discerned o vocotion for the priesihood and have been supported in thls by their Dlocese. Numbers are dependent upon vocotion dlscernment ond appllcotions from Dic>ceses for their car￿ldotes to enter formotlon ot Oscott. We seek to maintoin o good relotionship with the Bishops ond provlde o high-quolity formation progromme which is ottrattive to them. Formation staff The formation ond educotion of prlests is a hlghly speclolised role ond as such requires hlghly educoted acodemic5 with Pontiflcol theologicol degrees who ore oble to deliver the course lectures ond tutor support. Other speciollsms beuond the academlc ore olso needed. notably professlonal covnsellors who ore sultoble for humon accompanlment and safeguording troining. There Is o shortoge of prlests who hove the opproprlote quollficotions ond able to teoch to the level required. Wlth a decllne in the number of prlests notlonolly. there Is a shortoge of men ovollotJe to serve as parlsh prlests ond so dioceses rnoy be reluttont to rele05e men to teoch ot Oscott. This meons there 15 0 need to recruit loy staff who ore sultobly quollfled ond requlre professlonol ocodemlc solorles. Investmentreturns The College has a slgnificont Investment portfolio, whlch is manoged by independent investment monogers. The College relles on the income from ihe portfolio to subsidise the work of the College. ond mointoln the fobrlc of the buildlng whilst keeplng student fees ot on affordoble level. It is Importont that the Income from the portfolio ond Its undedying value is molntainÈd In the long term to support the work of the College. To reduce the risk of devaluotlon of our portfolio. the investments ore in high-grade quoted equities. bonds and gills, ond are manoged by professionol advlsors on o discretlonary bosls. although Trustees recognlse that voluotlons can fluctuate due to morket conditions ond factors outside their control. The Trustees meet wlth odvi50rs ot leost three times per yeor. to review performance. Poge 10

St Maru's College Oscott CIO Trustees, Report (contlnued) For the Year Ended 31 July 2025 8ulldlng malntenance The College operotes from o complex of buildings built primarily in the 1830s. The College building is Grode Il. listed. ond the Trustees are aware of the need to mointoin the bullding so thot it is fst for purpose. The historical significonce of ihe College. includlng its chopel, meons thot the cost of building molntenonce Is often more expenslve thon for o modern equivolent. Slmllorly deferring expenditure vsuolly results in hlgher overoll costs when work 15 eventuolly corrled out. The Trustees monltor mointenance costs corefully and authorise necessory expenditure b05ed on qulnquenniol and speclcllst reports. Trustees ore olso awore of the chonglng need5 of the College. A5 05cott Is now only one of two Cotholic 5ernlnarles In Greot Brltoln. Trustees are conscSous of the need to mointain odequote occommodotion for future semlnorions f. Princlpol funding The princlpal fundlng of the College's actlvlties is through.. FeespGuob/e forstudent tuiylon Student fees ore finonced by the Dloce5e (or religious order) whlch sponsors them. Although the College is closely linked with the Birminghom Archdiocese. other Oloce5es Aberdeen, Brentwood. Clifton. Eost Anglio. Hexhom & Newcostle. Leeds. Northompion, Noltlnghom. Portsmouth, Solford. ond Shrewsbury - olso sponsored student5 to the College dvring the ueor. Thls Is now the lorge5t source of income for the College. Investmenrrerurns derivedfrom rhe Chorltusporlfollo oflnvestments This is currently the second ltsrgest of the College's sources of income, ond is derlved from our portFolio. managed by Sar051n & Portners. In the moln. There Is also rentol income from the college's Investment propertu. Income derivedfrom the operotion of the cemetery The cemetery is o prlvote Cotholic cemetery. whlch Is ovalloble for interment of both clergy and the public. riv) Hospltolltg Income oris/ng through conferences. retreots etc. This orlses molnly from Church ond porochlol events whlch mainly toke ploce out of term tlme. such os retreot5 and conferences. os well 05 College tours. Structure. governance ond management a. Constitutlon St Mory'5 College oscott CIO is o reglstered chorlly 1172979. It is governed under o constitutlon doted 12 Jonuary 2017. ond wos registered 05 o Charltoble Incorporoted Orgonisotion (CIO) with ihe Charlty Commls51on on 10 May 2017. Poge 11

St Mary's Collegé Oscott CIO Trusteeg Report (contlnued) For the Year Ended 31 July 2025 Structure, governance and management (contlnued) b. Methods of appolntment or election of Trustees The monogement of the Chority 15 the re5ponsibilily of the Trustees who are elected ond co-opted under the term5 of the Constitulion. Under the terms of the Constitution the power of oppointing ond removing Trustees is vested with the Archbishop of Blrminghom. In exercislng these powers the Archblshop glve5 considerotion to any identified sk1115 gop wiihln the existlng trustee body. c. Organisational structure and decision-moklng pollcles The Trustees hove odopted a Governonce Framework In accordonce with the Chorlty Governonce Code. The Trustees ore mindful of the need to review ond report on Governance In the light of the Chorlly Governonce Code. ond have considered eoch of the seven sections of ihe Code. Work is continuing to implement the guidonce contoined in the Code although In some oreos the requlrements of Church Canon Low preclude the adoption of the Code In full. In particulor the Cholr of Trustees is not an elected position as the Code would recommend. The Archbishop of 8lrmingham is the ex-officio Cholr of Trustees ond oppoints oll the other Trustees. and the College Rector. He is appolnted to the posltlon of Archblshop by the Holy See rother thon belng appointed by the other Trustee5. There are seven svb-committees In oddition to the moin Trustee body covering.. Formotion., Audit, Finonce and Molntenonce.. Herltoge.. Investment., Remuneration and HR.. Development.. ond Legol Compliance and Governonce. Trustees choir these cornmitteÈs whSch olso Include members of College manogement ond staff. Additional od hoc committees are formed os needed. None of the Trustees hos ony beneficiol Interest in the College and oll serve withovt remvnerotion. d. Pollcies adopted for the Inductlon and trolning of Trustees The trustee5 are o mlx of loy people ond clergy, most of whom hove studled or taught ot ihe College and have been Trustees for o considerable tlme. On ogreelng to become o Trustee on Indlvlduol Is thoroughly briefed bu the Co- Trustees on the historu of the chority, the doy to doy monagernent, the responsbbillties of Trustee5 ond the current objectives ond future plons of the chorlty. Onllne Induttion troining on the role and responslbillties of Trustees and other matters is provided via ICAEW. the Charity Commission ond the NCVO. Some of the Trustees ottend seminors ond conferences on Chorlty motters ond other related subject5 on o regular bosls. The knowledge ond experience galned throvgh these serninors Is imported to ihe remolnlng Trustees ot Trustee meetlngs In oddition, trolning weblnors on legal ond other matters ore mode ovolloble. os well os In hovse trainlng on key topics from time to tlrne. e. Pay pollcy for key management personnel The Trustees consider the Boord of Trustees. os listeé on poge 1, to be the key manogemenl personnel of the choritu In chorge of directing ond cantrolllng the charity ond the senior monogement personnel, listed below. in chorge of runnlng ond operotlng the chortty on o day-to-doy bosss. Poge 12

St Mar￿$ College Oscott CIO Trustees, Report (contlnued) For the Year Ended 31 July 2025 Structure. governonce and management (contlnued) All Trustees give thelr tlme freely. ond no Trustee receives ony remunerotlon in respect of the work undertaken in the role of Trustee. The remunerotlon of senlor monagement personnel. and rotes for prtests ore determined by o remunerollon committee. which meets onnuolly or as necessory. Remuneration levels for employees ore b05ed on market rates for similar roles, where posslble. ond on the level of responsiblllty of the person concerned. Salories ore usuolly incre05ed onnuollu In Ilne wllh a cost of Ilvlng increose. The fees for priests. servlce5 ore remuneroted to the Oiocese which they serve. A5 shown Sn note 10. the totol costs of senior monogement personnel. whlch include the costs of o number of external priests ond employees were £508k (2024.. £551k). Senlor monagement personnel.. Rector Conon Mlchoel Dolman Bso PGCE, BA. STB Vlce Rector Rev Andrew Allman 8A. MA, STL Director of Studies Dr Mory Mccoughey BBS. 8D, STL, DD Theologu Rep Rev Andrew Robin50n ARCO. MA (Oxon). ST8, SSL (to July 2025) Deon of Phllosophy Dr Christopher Wojtulewicz B& PGCE (Hlgher Ed), PhD Dlrector of Splrltuol Formotion Aev James Preston 8A (Hons}, CertEd (to July 2025) Dlrector of Spirituol Formotion Rev Rob Toulerson BSC, PGCE. sfL Direttor of Postoral Formotion Rev Gerardo Fobrlzlo STB, JCL. Dip. luris (lo July 2025) Dlrector of Postorol Formation Rev Andrew Fllchardson MEng. BA, STB (from August 2025) Director of Permonent Oioconote Rev Michoel Glover BA (Hons). STL (from August 2025) Dlrector of Human Formotlon Mr Pete Smollwood MBACP (Aco). Dlp.Couns College Bursor Mrs Jackie Holl. B.Com (Acc}. FCA Estotes Manoger Mr Mork Corroll Events & H05Pltolity Monoger Mrs Jayne Tomkinson BSC. SA NCS (Acc.). PGCMC. Fdsc. MBACP. Cert Ed (to September 2024) Poge 13

St Mary's College Oscott CIO Trustees, Report (Continued) For the Year Ended 51 July 2025 Stru¢ture. governance and management (contlnued) f. Reloted party relotlonshlps Details of Trustee expenses ond reloted porty tronsoctlons ore disclosed In notes 11 and 24 to the occounts. Trustees are required to disclose oll relevonl interests and register them with the College Bursar ond. In occordance with the College's policy. withdraw from decislons where o conflict of Sntere5t orises. Fleloted portles Wlth o number of common Trustees clurlng the yeor ore 05 follows.. 8irminghom Romon Cotholic Dloceson Trust Fother Hudson's Caritas The Veneroble Engllsh College Trust Birminghom Newmon Unlverslty Catholic Trust for England ond Woles Mater Eccleslae College Frlends of the Holy Lond The British Trust for the Ecumenical Institute for Advonced Theologicol Study In Jerusolem Blrmlnghom Churches Together St Vincent de Paul Society (Englond & Wales) Friends of the Holy Lond St Bornabos Soclety Catholic Record Society Plans for future perlods Following o stroteglc review, trustees have committed to making the college o dynomic. splrit-fllled ond 5usioinoble communbty that forms clergy w￿h lolty whot Is needed to make the Church's vlslon of co-respon5iblltty o joyful reality in the UK. The collegels looklng to reduce its operotlng deficil and focus on Its core objectlves of formlng men for priesthood ond dloconate, os well os educoting the lay foithful. The college ogreed to toke on remolnlng elements of the Moryvole Institute of Higher Rellgious Sdences (HIRS) ond Its employee5. from the Archdlocese of Blrmlngham. with effect from September 2025. This will support online Iroining of the loily. with the oim to develop courses to support the needs of porishes ond dlocese The college is continuing to invest In o progromme of vocation promotions wlth the Nationol Offlce of Vocotions. and o serles of discernment weekends wlth UK dioceses. Followlng the success of the 'We Believe, event In July 2025. ottended by over 2000 Cothollcs ihe co15ege wlll host the second 'We Belleve. festlval in July 2025. Whilst recognising the decllne in semlnorlon numbers. Irvstees ore hopeful that the college con continue to provide ongoing formotion lo clergy. os well as being o venue for trolnSng lolty. The college looks lo further develop its network of 5UPPOrters ond vlsitors. Built on the success of triols in 2024/5. there are vorious progrommes linked to Loudoto Sl (Environmentol outreach for schools). ond the Probotion Service thot Oscott ore looking to progre55. Poge 14

St Mary's College Oscott CIO Trustees, Report (contlnued) For the Year Ended 31 July 2025 Statement of Trustees, responsibilitles The Trustees ore responsible for preparing the Trustees, Report ond the flnanclol statements In occordance with oppllcoble law and Unlted Klngdom Accountlng Stondords (United Klngdom Generally Accepted Accounting Proctice). The low appllcable lo charities in Englond & Woles requires the Trustees to prepare flnonciol stotements for each financiol which give o true and foir vlew of the state of affoirs of she Chority ond of Its Incomlng resources and opplication of resources. Inclvding Its Income and expendlture, for thot perlod. In preparing these flnonclal stotement5, the Trustees ore requlred to: select sultable occountlng pollcles ond then opply them consistently.. observe the methods ond principles of the Chorltfes SOAP (FRS 102).. moke Judgements ond occountlng estimotes thot are reosonable ond prudent. stote whether applicoble UK Accountlng Stondords (FRS 102) hove been followed. subject to ony moterlol deportures dlsclosed and explolned In the flrbonclal stotements.. prepore the finonclol stoiements on the oolng concern bosls unless it is Inappropriate to presume thot the Charlty will contlnue in business. The Trustees are responsible for keeplng odequate occountlng records thot ore sufflcient to show ond exploln the Chorlty's tronsoctlong ond disclose with reosonable occurocy at ony time the finoncial posltlon of the Chorltu and enable them to ensure thot the finonciol statements comply wlth the Choritles Act 2011. the Chorfty (Account5 Ond Report5) Regulations 2008 and ihe provlsions of the Constltution. They ore also responslble for sofeguarding the assets of the Chority ond hence for toking reosonoble steps for the preventlon ond detectlon of froud ond other irregulor1tie& Disclosure of Information to auditor Eoch of the persons who are Trustees ot the Ilme when thls Trustees, Report 15 opproved hos confirmed that.. so far os that Trustee is owore. there is no relevont oudil Informotlon of which the chority's audltor Is unawore. ond thot Trustee hos token oll the steps ihot ought to hove been token a5 0 Trustee in order to be owore of ony relevant oudlt Information ond to estob115h thal the chority's oudltor Is awore of ihot informatlon. Audltor Dalns Audlt Llmlted were reappolnted as auditor of the chorlty. The audrtor, Dolns Audit Limited. has indicated his willingness to contlnue in office. The deslgnoted Trvstees will propose o motion reoppointing the oudStor ot o meetin9 of the Trustees. Approved by order of the members of the boord of Trustees on 26 Februory 2026 ond slgned on their behalf by.. Most Aev B Lon9ley M& STL Archbishop of Blrminghom Choir of Trustees Page 15

St Mary's College Oscott CIO Independent AudIt0￿5 Report to the Members of St Maru's College Oscott CIO Oplnlon We hove oudited the finonclal statements of St Mary's College Oscott CIO (the 'charity') for the year ended 31 July 2025 which comprise the Stotement of Finonclal Activlties (includlng Income ond Expenditure Account). the Bolonce Sheet. the Statement of Cosh Flow5 ond the reloted notes. Includlng o summaru of 5ignsficont occounting pollcles. The financlal reportlng framework thot hos been opplied in their preporolion is applicoble low ond Unlted Klngdom Accountlng Stondords. including Flnoncial Reporting Stondard 102 The Financial Reporting Stondord opplicoble in the UK ond Republic of Ireland. (Unlted Kingdom Generolly Accepied Accounting Proctice)- The flnonciol statements hove been prepored in occordonce wlth Accounting ond Reportlng by Charltles preporlng thelr occounts In occordonce with the Flnonclol Reporting Standards oppllcable in the UK ond Republlc of Irelond (FRS 102) in preference to the Accounting ond Reporting by Choritle5.' Stotement of Recommended Proctlce issued on 1 April 2005 which Is referred to in the extont regulotlons but hos been wSthdrown. This hos been done in order for the occounts to provlde a true ond fair view in occordonce wlth the Generolly Accepted Accounting Prortice effective for reporting perlods beginning on or after 1 January 2015. In our opinlon the flnonciol stotements.. glve o true folr view of the stote of the chorlty's offalrs os ot 31 July 2025 ond of its incomlng resources ond opplicotlon of resources for the yeor then ended: have been properly prepored in occordance wf(h United Kingdom Generolly Accepted Accounting Practlce.. and hove been prepored In accordonce wlth the requlrements of the Chorilies Act 2011. Basis for oplnlon We conducted our oudll In occordonce with Intemoiional Standords on AudSting (UK) (ISAS (UK)) ond opplicable law. Our re5ponslbllitles under those standords ore further described In the Auditor's responsibilities for the audit of the finonclol statements section of our report. We are Independent of the charitu In accordance wlth the ethicol reoulrements thot ore relevont to our audlt of the flnonciol statements In the Unlted Kingdom. Includlng the FinoncSal Reporting Council's Ethlcol Stondord, ond we hove fulfilled our other ethlcol responslbllities in occordance with these requlrement& We believe thot the oudlt evidence we hove obtolned Is suffsclent ond opproprlate to provide a b05$5 for our oplnlon. Conclusions relatlng to golng concern In audlting the flnonclol staiements. we hove concluded thot the Trusteeg use of the golng concern basis of occounting in the preporotlon of the flnonclol stotemenlsls appropriote. Bosed on the work we hove performed, we hove not identified ony moterial uncertointle5 relating to events or conditions that. indlvSdually or collectively. moy cost significant doubt on the chorlty's obility to contlnue os o going concern for o perlod of at leost tsvelve months from when the finonclol stotements ore outhorised for issue. Our responsibllities ond the responsibilities of the Trustees wlth respect to going concern ore described in the relevont 5ectlons of thls rewrt. Page 16

St Mary's College Oscott CIO Independent Auditorfs Report to the Members of St Mary's College Oscott CIO (contlnved) Other Information The other Information comprlses the Informotlon Included In the Annuol Report other than the financiol statements and our Audltorfs Report thereon. The Trustees are responsible for the other Information contoSned wlthin the Annuol Report. Our opinion on the finonciol stotements does not cover the other Informotion and, except to the extent otherwise expllcltly stoled in our report. we do not express ony form of ossuronce concluslon thereon. Our responslbllity is lo read the other informotion ond. in doing so. consider whether the other informatlon is moterially Inconsistent with the ftnonclol stotements or our knowledge obtoinecl In the course of the oudSt, or othen￿lS￿ oppeors to be materiolly misstoted. If we identify such moteriol inconsistencies or opparent moterlol mlsStotement& we ore required to determbne whether th15 gives rise to o moterial m155totement In the flnonciol statements themselves. If. bosed on the work we hove performed. we conclude thot there Is o materlol misstatement of thls other Informotion, we ore required to report thot foct. We hove nothlng to report In this regord. Motters on which we are rèquired to report by exceptlon We have nothing to report In respett of the following motters where the ChorSties (Accounts ond Reports) Regulatlons 2008 requires us to report to you if. in our opinion.. the Informotion given in the Trustees, Report Is inconsistent in ony material respect with the flnonciol statementS', or sufficient occounting records hove not been kept,. or the fsnonciol slotements ore not in ogreement with the accounting records ond returns.. or we hove not recelved oll the informotlon ond explonotlons we reoulre for our oudlt. Responslbllltles of trustees As explolned more fvllu In the Trustees, Responslbllitles Stotement. the Trustees ore responsible for the preparation of the finonciol stolements whlch give o true ond foir view. ond for such internol control os the Trvstees determine is nece55Qry to enoble the preporatlon of finoncial statements that are free from moteriol misstatement. whether due 10 fraud or error. In preporing the flnonciol statements, the Trustees ore responsible for assesslng the charity's obillty to conllnve os o golng concern. dlscloslng, os opplicoble, motters reloted to going concern ap)d using the goln9 concern bosls of accounting unless the Trustees either intend to liquidote the chority or to ceose operotlons, or have no reallstic olternative but to do 50. Audltor's responsibilities for the audit of the financlol statements We hove been appointed os auditor under sectlon 144 of the Chorltles Act 2011 end report in occordonce wlth the Act ond relevant regulotlons mode or havlng effett thereunder. Our objectlve5 ore to obioin re050noble assuronce obout whether the flnonciol stotements 05 a whole ore free from moterlol mlsstotement. whether due to fraud or error, ond to issue on Audltor's Report thot includes our opinion. Reosonable assuronce is o hlgh level of ossuronce. but is nol o guarontee thot on oudit conducted in accordonce with ISAS (UK) will olwoys detect o moterlal misstotement when it exlsts. Misstotements con ¢rlse from froud or error ond ore considered moterlol if, individually or in the aggregole. they could reosonobly be expected to Influence the economic declslon5 of users token on the bo515 Qf these finonciol stoternents. Irregulorities. including froud. ore instonces of non-compliance with lows ond regulotlon5. We design procedures in line with our re5ponslbllltles. outlined obove. to detect mclerlol mlsstotements In respect of irreguloritles. including froud. Poge 17

St Mary's College Oscott CIO Independent Audttorfs Report to the Members of St Mary's College Oscott CIO (continued) The extenl to which our procedures ore capable of detecting irregulorlties. including froud Is detoiled below. Our approach to identifulng and ossesslng the risks of moterlol mi55totemenl in respect of Irreguloritie& includlng froud ond non-complionce with laws ond regulation5. was os follow& the senior stotutory auditor ensured Ihot the engogement teom collectively hod the oppropriote competence. copob1l￿t[eS ond skills to identify or recognise non-complionce with opplicoble lows on(J regulolions: we identified the lows ond regulotlons applicoble to the chority through dlscusslons wlth trustees ond other management. ond from our commerciol knowledge and experience of Ihe chority sector,. we focused on specific Iow5 ond regulotions whlch we consldered rnoy hove o direct moteriol effect on the finonciol stotements or the operotions of the chority, including the finonciol reporting legislotion, Chorities Act 2011, toxotlon leglslatlon. ontl-brlbery. employment. ond envlronmentol ond health ond sofety legislotion.. we ossessed the extent of compliance wlth the lows ond regulotions identlfted above through rnoking enqulrles of monogement ond Inspectlng legal correspondence: ond identifled lows and regulatlons were communicoted within the oudit teom regulorly ond the team remoined olert io instances of non-compllance throughout the oudit. We assessed the suscepdblllty of the chority's flnonciol stotements to moterlol MISSt￿eMent, Includlng obtolnlng an understcnding of how froud might occur, by.. moklng enquiries of monagement os to where they consldered there was susceptlbilitu to fraud. their knowledge of octuol. Suspected and allegecj froud: ond considering Ihe internal controls in place to mltigote risks of fraud ond non-complionce with laws and regulations. To address the risk of fraud through monogement bios ond override of controls. we.. performed anolyticol procedureg to identify ony unusuol or unexpected relotlonships.. tested jovrnol entrles to identify unusuol tronsoctions,. assessed whether judgement5 ond ossumptions mode In determlning the occounting estimotes were Indlcotive of potentlol blos- ond Snvestlgoted the rotionole behind slgnlflconl or unu5uoI tronsoction& In response to the risk of Irregularities and non-compliance wlth lows and regulations. we designed procedures which included. bLrt were not Ilmlted to.. ogreelng finonclal stotement disc105ures to underlying sUPPOrting documentotlon.. readlng the mlnutes of meetlngs of those chorged wlth governonce., enqulring of management as to octual ond potential litigotion ond cloims.. ond reviewing correspondence with HMRC, relevant regulotors ond the charlty s legol advisor& Because of the Inherent Ilmltatlons of on oudit, there is o rlsk thot we wlll not detect oll irregulorSties. including those leodlng to a moterlal mI5Stotement In the flnonclol statements or non-compllonce with regulation. This rlsk Increoses the more thot compllonce wlth o law or regulotion is removed from the events ond tronsoctlons reflected in the f inonciol stotements. as we will be less Iikelu to become oware of instances of non-compliance. The risk is olso greoter regording irregulorities occurring due to frovd rother thon error. os froud involves intentionol conceolment. forgeru. collusbon. omlsslon or mlsrepresentallon. A fLSrther description of our responslblllties for the oudlt of the finonclol stotements 15 locoted on the Flnonclal Reporting Councll's website ot. ww.frGO ouditor res on This de5CriPtion forms port of our Auditor's Report. Poge 18

St Mary's College Oscott CIO Independent Auditorfs Report to the Members of St Mary's College Oscott CIO (continued) Use of our report Thls report is mode solely to the charity's Irvstees 05 o body. occordonce wlth Port 4 of the Charltles (Accounts ond Reports) Flegulotlons 2008. Our ovdlt work has been undertoken so thot we might stole to the charity's trustees those matters we ore required to stole to them in on AuditD¢s Report and for no other purpose. To the fullest extent permitted by law. we do not occept or ossume responsibility to anuone other thon ihe chorlty ond Its trustees. os o body, for our oudit work. for this report, or for the oplnions we hove formed. Dalns Audit UmitÈd Stotutory Audltor Chortered Accountont5 81rmlnghom 26 February 2026 Dains Audit Llmited ore eligible to act os ouditors in temis of section 1212 of the Componles Act 200& Poge 19

St Mary's College Oscott CIO Statement of flnanclal ortivltles (including income and expendlture account) For the Yeor Ended 51 July 2025 Vnrestrlcted funds 2025 £000 Total funds 2025 £000 Totol funds 2024 £000 Note Income trom: Donatlons ond legocles 104 Chorltoble octivitles 1.659 1.659 1.655 Investments 583 585 940 Total Income 1546 2.546 2.600 Expendtture on: Ralslng funds Charitoble oclivities 74 74 98 3,230 5.230 3.664 Totol exp¢ndlture 3.304 3,304 3,762 Net expenditure before net galns on Investments Net golns on Investments (958) (958) 1.544 (1,162) 1.344 2,171 Net Income 386 386 1.009 Other recognised galns/{Ios5es): Golns on revaluotlon of flxed ossets 10 Net movement In funds 386 386 1.019 Reconciliatlon of funds: Total funds brought forword Net movement In funds 47.496 47.496 386 46.477 386 1.019 Total funds carried forward 47.882 47.882 47.496 The Statement of Finonclol Actlvitles Includes oll goln5 and losses recognlsed In the yeor. The notes on poges 25 to 46 form part of these flnanclol stotement& Poge 20

St Mory's College Oscott CIO Balance Sheet As ot 51 July 2025 2025 £000 2024 £000 Note Ftxed assets Tonglble osset5 Herltoge osset5 Investments 12 13.959 14.108 13 1.858 1,858 15 30.445 30.915 14 647 647 Investment property 46.909 47,528 Current assets Debtors 16 165 106 Cosh ot bonk ond in hond 21 1.005 82 1.170 188 Current Ilabillties CredStors.' omounts falling due within one yeor 17 09T) (220) Net current assets / Ilobilites 973 (32) Total ossets less current Ilabilities 47.882 47.496 47.496 Total net assets 47.882 Charitu funds Unrestrlcted funds 18 47.882 47.496 47.496 Totol funds 47.882 The finonciol stotements were opproved ond outhorised for issue by the Trustees on 26 Februory 2026 ond signed on their beholf by: Most Rev 8 Longley MA STL Archbishop of Birminghom Cholr of Trustees The notes on poges 23 to 46 form port of these flnonclol stolements. Poge 21

St Mary's College Oscott CIO Stotement of Cash Flows For the Year Ended 51 July 2025 2025 £000 2024 £000 Note Cash flows from opèrotlng actlvltles Net C05h used In operatlng actlvllies 20 0.428) (1.832) Cash flows from Investing activitles Investment Income received 585 940 Purchose of tangible flxed assets Purchose of Investments by Investment monoger Sole of Investments by Investment manoger Decreose/(Incre05e) In cash held by Investment manager (46) (11.560) 1l827 (386) (25.966) 28.539 1.547 0.391) Net cash provlded by Investing actlvitiÈs 2.351 1.736 Change In cosh ond cash equlvolents In the year Cosh tsnd cash equlvolents ot the beginnlng of the yeor 923 (96) 82 178 Cosh and cash equlvalents at the end of the year 21 1.005 82 The notes on poges 23 to 46 form part of these flnoncial stotements Poge 22

St Mary's College Oscott CIO Notes to the Finonciol Stotements For the Year Ended 31 July 2025 General Informatlon St Mary's College Oscott Is o choritoble Incorporated organlsation (CIO), Incorporoted in Englond ond Woles. The chority's registered oddress ond registered number Is set out in the Chorlly Informotion page. The principol octivity of the chority Is thot of o Romon Cotholic Seminory of the Archdiocese of Birminghom at 0sCOtt College. for the educotlon of men In Holy Orders (Prlesthood ond Permanent Dioconate). Accountlng pollcles 2.1 Basls of preparatlon of financlol statements The flnanclol statements hove been prepored in occordonce with the Charities SORP (FRS 102) Accountlng ond Reporting by Chorltles.. Stotemeni of Recommended Practlce appllcoble to chorities preporlng their accounts In occordonce with the Flnonciol Reporting Standord oppllcable In the UK ond Republlc of Irelond (FRS 102) (effective 1 January 2019). the Financial Reporting Stondard opplicable In the UK ond Republic of Ireland (FRS 102) ond the Chorltles Act 2011. The flnoncial stotements hove been prepared to give o 'true ond folrf view ond have deported from the Chorltles (Accounts and Reports) Fleoulotlons 2008 only to the extent required to provide o true ond fol vlew. This deporture hos involved followlng the Chortties SORP (FRS 102) published In October 2019 rother thon the Accountirig ond Reporting bu Chorities.. Stotement of Recommended Practice effective from I Aprll 2005 whlch hos slnce been wlthdrown. St Mory's College Oscott CIO meets the definltlon of o public benefit entity under FRS 10?. Assets and liobi1Sties ore initially recognlsed ot historical cost or tronsaction value unless otherwise stoted in the relevant accounting policy. 2.2 Golng concern The Trustees ore confident the College hos sufficient ossets to contlnue to operate. The College has cash reserves ot the Bonk ond withln the Investment portfollo to fully cover any operoting losses for slgnlficonilu longer than the next 12 months from the dote of slgnlng these occounts. The level of future operotlng losses (excluding investment galns / losses) is expected to be manageoble. Seminarian numbers ore expected to remaln relolively stoble In the neor term. Accordlngly. these flnonclol 5totements have been prepored on o golng concem basls. Page 23

St Maru's College Oscott CIO Notes to the Flnonclol Statements For the Year Ended 31 July 2025 Accountlng policies (contlnued) 2.5 Income All Income is recognised once the Chority hos entitlement to the income. it is proboble thot the income wlll be received ond the amount of income recelvoble con be meosvred rellably. The recognltbon of Income from legocles is dependent on estobllshlng entitlement. the proboblllly of receipt ond the ablllly io estimote wlth sufficient occvrocy the omount recelvable. Evldence of entitlement to o legacy exists when the Chority hos sufficient evldence that o gift hos been left to them (throLJgh knowledge of the exlstence of a volld wlll ond the deoth of the benefactor) ond the executor Is sotlsfled that the property in questlon will not be required to satisfy clalms In the estote. Receipt of o legocy must be recognlsed when it Is probable that It will be recelved ond the foir volue of the omount receivoble, whlch wlll generally be the expected cosh omount to be di*ributed to the Charlty, con be rellobly meosured. Gronts ore included in the Stolement of Financiol Actlvltle5 (including Income ond Expenditure Account) on a recelvable bosis. The balance of income re￿iVed for specific purpose5 but not expended during the perlod Is shown in the relevont funds on the Bolonce Sheet. Where income is received In odvcnce of entitlement of receipt. its recognition is deferred ond included in creditors os deferred income. Where entitlemenl occurs before income 15 recelved. the income Is occrued. Where the donoted good Is o fixed osset, It15 measured ot folr volue. unless It 55 impractlcol to me05vre this reliobly. in whlch co5e the cost of the item to the donor should be used. The goln is recognised as Income from donotlon5 and o corresponding amount is Included in the oppropriote fixed asset closs ond deprecloted over the useful economlc Ilfe In accordance with the Char(ty's occountlng pollcle5. On recelpt. donated professlonal Services and foclllties are recogn55ed on the bosis of the volue of the glft to the Chority which Is the amount it would have been willing to pay to obtain servlce5 or focllities of equivalent economic beneftt on the open morket., o correspondbng omount is then recognlsed In expendlture in the perl¢xS of recelpt. Income tox recoveroble in relotion to investment income is recognlsed at the time the Investment Income is recelvoble. Other Income Is recognlsed In the perlod In whlch It 15 recebvable ond to the extent the goods hove been provided or on completlon of the Se￿Ice. 2.4 Expenditure Expenditure Is recognised once there is a legol or constructive obllgotlon to tron5fer economlc beneflt to o thlrd porty, It 15 probable thot o transfer of economic benefits wlll be required In settlement ond the omount of ihe obligotion con be meosured reliably. Expendlture is clossified by octlvity. The costs of eoch octlvity ore mode up of the totol of direct costs ond Shored costs. Includlng suppon costs involved in undertaklng each activity. Dlrect costs ottributoble to a single octivity are ollocoted directly to thal activlty. Shared costs which contribute to more thon one octivlty ond support costs which ore not ottributoble to o single octivity ore apportloned betweer) those octivitles on a bosls consisteni wlth the use of resources. Centrol staff costs ore ollocated on the bosis of time spent. and depreciotion charges ollocoted on the portion of the 05seVs Use. Poge 24

St Mary's College Oscott CIO Notes to the Finonclal Statements Forthe Year Ended 31 July 2025 Accounting policies (contlnued) 2.4 Expendlture (continued) Expenditure on roi5ing funds Includes oll expenditure incurred by the Chority to roi5e fund5 for its choritoble purposes and Includes costs of oll fvndraislng octlvities events ond non-chorltoble troding. Expendlture on choritable octivltSes Is Incurred on directly undertoking the activSties which further the Charity's objectlves. os well os ony associoted support Costs. All expenditure is Incluslve of Irrecoveroble VAT. 2.5 Tanglble flxed assets ond depre¢lotlon Individuol tanglble flxed assets costlng £1.000 or more ore copltolised. Tongible fixed assets are Initlolly recognised ot cost. After recogn*tion. under the cost model tangible fixed osseis a￿ meosured ot cost less accumulated depreoatlon and any accvmuloted impoirment losses. All COSt5 incurred to bring o tongible fixed 05set into its intended working condltlon should be included in the meosurement of cost. The Lond ond Buildlngs of the College ore shown in the 8olance Sheet ot o deprecioted replocement cost being the current COSt of reploclng on osset wlth its modern equivalent asset. less deduttions for physicol deteriorotion ond all relevant forms of obsolescence ond optimisotion. Depreciation is churged 50 OS to ollocale the cost of tanglble fixed assets less their reslduol volue over thelr estlmoted useful Ilves. uslng the strolght-line method. Depreclotlon Ss provlded on the following boses.. College bvildings 2% per onnum on depreclated replacement cost less estimated resldual value IO% per onnvm on cost 25% per onnum on cost - 10%- 20% per onnum on cost 33 1n% per onnum on cost 6 213% per onnum on cost 10% per onnum on cost Solor ponels Motor vehicles Flxtures. fittlngs ond equipment Computer equipment Cemetery irnprovements Blomoss heotlng project 2.6 Heritage ossets Oscott hos three collections of herltage ossets whlch ore held In support of the CIO constllution requlrement of Propogotlon of the Roman Cotholic Religion, with the oblecllve of promoting oppreclotion. knowledge and understanding of the foith ond Its history ond herltage In the UK (l) Museum ortefacts and ortwork.. Cit) Speciol Collection Librow.. ond Clll) Chopel ond Socrlsty flxtures and fitting& Page 25

St Mary's College Oscott CIO Notes to the Flnandal Statements For the Yeor Ended 31 July 2025 Accounting pollcies (continued) 2.6 Heritage assets (continued) Heritage assets are volued where proctlcolly possible. ond where the cost of such o voluotion Is In progortlon wlth the occuracy and relevonce of the Informotion gained. In the cose of the Museum ortefocts and ortwork the Trustees do not consider thot reliable cost or voluotion Informotlon con be obtalned for the mojorlty of items held: however a voluotion hos been Included bosed on on assessment of oll Items considered to be worth ot leost £l0.000. The Chopel ond Sacr15ty items and the Speclol Collection Llbrary collection hove not been volued as it hos not been posslble to identify suitoble experts thot are willing or oble to volve such items ot o cost of voluollon that the Trustees flnd occeptoble glven the IlmSted beneflt of such o voluatlon to the Chority. It is the Intentlon of the Trustees to revlew the possibility of valuatlon regularlu. These item5 have been donated to the College over Ihe105t 200 yeor5. and so no reliable c05t inforrnotlon is avollable. They hove therefore not been recognised on the 8olonce Sheet. No donotSons hove been received in over 10 yeors. Expendsiure. which In the Trustees vlew. 15 requbred to preserve or cleorly prevent further deterlorotion of Individual herltage items is recogni5ed os expenditure In the yeor It 55 incurred. No depreciation Is chorged on heritage ossets os the assets ore deemed to hove indeterminote Ilves. The College Is not looking to exlend its collection of herjtoge assets: however ony donations received ore reported ot the best estimote of value ond ocqulsltlons mode ore reported ot cost. 2.7 Investment5 Fixed asset investments are o form of finonciol instrument ond ore InStiolly recognised ot thelr tronsoctlon cost ond svbsequently meosured at folr volue ot the Bolonce Sheet dote. unless the value ccnnot be meosured rellobly in whlch cose It Is meosured at cost less Impolrment. Investment golns ond losses. wheiher realised or unrealised, ore comblned ond presented os 'Goln5/(Losses) on investments, in the Stotement of Flnonciol Actlvlties (including Income ond Expenditure Account). 2.8 Debtors Trode and other debtor5 ore recognlsed ot the settlement amourtt ofter ony trade dlscount offered. Prepoyments ore valued at the omount prepoid net of ony trode discounts due. 2.9 Cash at bank ond in hand Cash ot bonk ond In hond Include5 cosh on¢J short-terrn hlghly11quld Investments wlth o short maturity of three months or less from the dote of ocquisltion or opening of the deposit or 5imilor occount. Poge 26

St Mory's College Oscott CIO Notes to the Flnancial Stotements For the Year Ended 31 July 2025 Accountlng polides (continued) 2.10 Llabilltles and provlsions Lbobilities ore recognised when there is on obligation ot the Bolance Sheet dote os a result of o p05t event, it is proboble thot a tronsfer of economlc benefli will be requlred In settlement. and the omount of thè settlement con be estimated reliably. Lioblllties ore recognised ot the omount thot the Chority ontlclpates It wlll poy to settle the debt or the omount it has received os odvonced pauments for ihe goods or servlces It must provide. Provision5 are meosured ot the best estimote of the amounts required to settle the obllgotion. Where the effect of the time volue of money Is materlol. the provislon is bosed on the present volue of those amounts. dlscounted ot ihe pre-iox dlscount rote thot reflects the risks specifsc to the liobillty. The unwindlng of the dlscount Is recognised In the Statement of Flnonciol Actlvltles (inclvdlng Income ond ExpendSture Account) as o finance cosl. 2.11 Financlal instruments The Chorlty only hos flnanciol ossets and finonclol liobllftles of o kind thot quolify os bosic financlal Instruments. Bosic flnonciol instruments ore Snltiolly ￿CognISed at Ironsactlon value ond subsequently measured ot thelr settlement volue with the exception of bank loons whlch are subsequently meosured ot omortised cost using the effective interest method. 2.12 Redundancy costs and termlnatlon benefrts Redundoncy costs ond terminotlon beneflts ore recognlsed Immediately 05 an expense In the statement of finonciol activlties when the chorlty Is demonstrably commltted to termlnote the employment of on employee or to provide termlnotlon beneflt5. 2.13 Pensions The Chority operotes a defined contrlbvtlon penslon scheme. The penslon chorge represents the omounts poyable by the Chorily to the fund In respect of the year. As port of this scheme. the Chorlly offers o salary socriflce orrangemenl for employee conlrlbutlons. Under thls arrangement, employees ogree to a reduction In thelr gross solary, ond the Chority mokes equivalent conlrlbutions to the pension scheme on thelr behalf. These contrlbutlor)s are treoled os employer contrlbulions ond are Included in the penslon charge for the yeor. 2.14 Fund accountlng General funds ore unrestrided funds which ore ovolloble for use ot the discretion of the Trustees in fvrtheronce of the 9enerol objectives of the Chority ond whlch hove not been designated for other purposes. Deslgnoted funds comprise unrestrlcted funds thot hove been set 05ide by the Trvstees for portlculor purpose5. The olm and use of eoch designoted fLsnd is set out in the notes to the finonclol stotementS. Investment Income. golns and losses are ollocoted to ihe opproprlote fund. Page 27

St Mory's College Oscott CIO Notes to the Flnancial Stotements For the Year Ended 31 July 2025 Income from donatlons ond legoaes Unrestricted funds 2025 £000 Total funds 2025 £000 Totol funds 2024 £000 Donotlons Legocies 96 96 Donatlons 104 104 Investment Income Unrestrlcted funds 2025 £000 Totol funds 2025 £000 Totol funds 2024 £000 Rental Income 33 31 Dlvidend ond interest income 550 550 909 583 583 940 Page 28

St Maru's College Oscott CIO Notes to the Finonciol Statements For the Year Ended 31 July 2025 Income from charltable octlvltles Unrestrlcted funds 2025 £000 Totol funds 2025 £000 Totol funds 2024 £000 Student formotlon 1.144 1.144 1.186 Cemetery College Slte Propogolion of the Roman Cotholic Folth 357 357 319 138 158 140 20 20 10 1.659 1.659 1.655 Investment management costs Unrestrlcted fund5 2025 £000 Total funds 2025 £000 Totol funds 2024 £000 Commission on Investments 74 74 98 Page 29

St Mary's College Oscott CIO Notes to the Flnancial Stotements For the Year Ended 31 July 2025 Governonce costs 2025 £000 2024 £000 Audltotts remunerot(on 18 16 Professionol odvice/Support costs 20 23 36 Analysls of expenditure on charltable attlvltles Summary by fund type Unrestrlcted funds 2025 £000 Totol 2025 £000 Totol 2024 £000 Student formallon 866 866 933 College Slte Cemetery Propogotlon of the Roman Cotholic Foith Adminlstrotive 1,081 1.081 1.371 237 237 350 237 237 144 281 281 284 Kltchen & domestic 528 528 582 Totol 2025 3,230 3.250 Totol 2024 3,664 3.664 Page 30

St Mary's College Oscott CIO Notes to the Finonclal Statements For the Year Ended 31 July 2025 Anolysls of expenditure on charitable activltles (contlnued) Summary by expend5ture type Stoff costs Depreciation 2025 2025 £000 Other costs 2025 £000 Total 2025 £000 Totol 2024 £000 £000 Student formotlon 423 443 866 933 College Site Cemetery Propagotion of the Roman Cothollc Folth 343 173 565 1.081 1,3n 115 22 257 350 38 199 257 144 Admlnlstrolive 173 108 281 284 Kitchen & domestic 395 733 528 582 Total 2025 1.487 195 1,548 5.230 3.664 Total 2024 1,515 181 1.968 5.664 Anolysis of expenditure by attivltles Actlv5tles undÈrtoken dlrectly 2025 £000 Support costs 2025 £000 Total funds 2025 £000 Totol funds 2024 £000 Student formotlon 866 866 933 College Slte Cemetery Propogotion of the Romon Cothollc Foith Admlnistrotlve 1.081 1.081 1,371 237 257 350 237 237 144 281 281 284 Kltchen & domestic 52B 528 582 Totol 2025 2.949 281 3.250 5.664 Totol 2024 3,380 284 3,664 Poge 31

St Mary's College Oscott CIO Notes to the Financlol Statements For the Yeor Ended 51 July 2025 Anolysls of expendlture by Ottivltles (contlnued) Analysis of dlrect costs Propogation of the Roman Cotholic Foith 2025 £000 Cemetery (incl. vehicles) 2025 Student formotlon 2025 £000 College Site 2025 £000 £000 Employee costs Depreciotion Mointenonce/buildlng/grounds costs Lecturers/moteriols utllilles & Insurance 423 343 115 58 173 22 290 69 325 244 Museum ond Heritage costs Exoms/ Course Volidotion 74 32 Vehicle costs 11 74 Stoff trovel & troining Llbrory Books, periodicols Dlocesan support Chopel / Orgon costs Pllgrlmoges ond retreats Provislons/caterlng supplles Cleonlng, kitchen and loundry Training & welfore Computer support/licences Stallonery. photocopying. postoge ond printlng Profe55ionol fees 17 10 20 118 25 10 Svndrles Total 2025 866 1,081 237 237 Totol 2024 933 1.371 350 Poge 32

St Mory's College O$cott CIO Notes to the Financlal Statements For the Year Ended 31 July 2025 Anolysls of expendlture by activlties (contlnued) Analysis of dlrect Costs (continued) Kltchen & domestic 2025 £000 Total fvnds 2025 £000 Totol funds 2024 £000 Stoff cost5 395 1.314 1.353 Depreclotlon Maintenonce/building/grounds costs Lecturer5/materlols Utilities & Insuronce 195 181 560 724 325 346 245 296 Museum ond Heritoge c05tS Exoms/ Course Volidation Vehicle costs 74 88 52 40 25 25 Staff trovel & troining 38 37 Llbrary 8ook4 perlodicols PromotSon / morketing / bursarles Chopel / Orgon costs Igrimoges ond retreot5 Provlsions/colering supplie5 Cleonlng. kitchen and loundry Trolnlng & welfare Computer support/licences Stotlonery. photocopying, postage ond printlng Professlonol fees 20 24 120 11 35 25 37 104 26 26 37 10 10 10 10 18 Sundries 23 20 Total 2025 528 2.949 3,380 Totol 2024 582 3.390 Poge 33

St Maru's College Oscott CIO Notes to the Finon¢lal Statements For the Year Ended 31 July 2025 Anolysls of expertdlture by octlvltles (tontlnved) Analysls of support costs Total funds 2025 £000 Totol fund5 2024 £000 Adminlstratlve 2025 £000 Stoff costs 173 175 162 Diocesan support Troining & welfare Governonce 10 15 15 23 23 36 Computer sUPPOrt/llcences Stotlonery. photocopying. Po￿age ond printlng Professionol fee5 27 27 31 18 18 19 19 19 17 Sundrles 281 281 Page 34

St Mary's College Oscott CIO Notes to the Flnandal Statements For the Yeor Ended 31 July 2025 10. Staff costs 2025 £000 2024 £000 Woges ond solarle5 Social secursty costs Contrlbullon to defined contrlbution pension schemes 1.222 1.215 108 119 157 181 1.487 1.515 Durlng the ueor. the chority pold redundoncy costs In respect of employees of £100k (2024 - £NII). The overage number of persons employed by the Chorily dur¢ng the yeor wos as follows.. 2025 2024 No. Domestlc and monuol 27 Admlnlstration Educotlon and heritoge 13 14 38 The average heodcount expressed os full-lime eqvivalents was 2025 No. 2024 No. Domestic and monuol 19 25 Administrotion Educotion and heritage io 10 31 38 The number of employees whose employee beneftts (excluding emplouer penslon costs) exceeded £60,000 wo& 2025 No. 2024 ND. In the bond £60,001 - £70,000 In the bond £70.001- £80.000 The total employment beneflts Including employer penslon contrlbutlons ond fees poid to dioceses In respett of the senior monogement personnel were £508k (2024- £551k). Poge 35

St Mary's College 05cott CIO Notes to the Financial Statements For the Year Ended 31 July 2025 Trustees, remuneratlon ond expenses Durfing the year. no Trustees recelved any remvnerotion or other beneflts (2024 £NIL). During the yeor ended 31 July 2025. expenses totolling £1k were reimbursed or pold dlrettly to 3 Trustees (2024 £NIL) for trovel expenses. 12. Tanglble fixed assets Fixtures, fittlngs Solar Cemetery Motor and pone15 Project vehlcles equlpment £000 £000 £000 £000 Land ond colleg& bulldlngs £000 Blomass system £000 Total £000 Cost At 1 August 2024 Addltlons 15.675 693 158 179 546 15.499 59 46 At 31 July 2025 13.675 693 248 197 179 553 15.545 Depreciatlon At l August 2024 Charge forthe yeor 619 215 29 133 171 224 1.391 23 70 25 13 56 195 At 31 July 2025 642 285 146 179 280 1.586 Net book value At 31 July 2025 15.033 408 194 51 273 13.959 At 31 July 2024 13,056 477 219 25 322 14.107 Included in the obove land ond bulldlngs voluotlon is £2.2m of lond whlch Includes the college cemetery. This Is not deprecioted os St15 consldered to hove on Indefinlte life. Poge 36

St Mary's College Oscott CIO Notes to the Finonciol Statements For the Yeor Ended 31 July 2025 13. Herltage assets Assets recognlsed at voluatlon Museum artefatts 2025 £000 Corrying value ot 1 August 2024 1,858 At 31 July 2025 1.858 Herltage assets reported In the balonce sheet The Museum ot Oscott contolns ortefocts. gorment5. sculptures ond ortwork primarily reloting to the Catholic Herltage of Oscott ond the Cotholic Church In the West Mldlonds. Acqulsifion. preservotlon mGnogementonddispos01 There ore oround 1.000 Items In the Museum collection inclLJdlng o signlflcant amount of memoroblllo which Is of no commerciol value. These Item5 hove either been used hbstorlcolly by the Semlnoru, or have been donoted by locol porlshes or indlviduo15 linked with the College. No significant donations hove been received In the lost 10 yeor& In order to ossess the volue of the collection in o timely and cost effective manner, only item5 Wlth on Indlvlduol voluotlon of £10.000 or more were professlonally osse5sed in July 2011. 69 Items were Identlfied os folllng into this Category. Includino fvrnlture, sculptures ond paintings, ond these Items were then a￿eSsed by Mr Brendon Flynn. who is on expert ort hlstorlon. a Curotor of Fine Art and o lead officer ot Blrminghom Clty Council for the CAS Speciol Collectlons Scheme ond rhe Art Fund Internotlonal Scheme. He 15 also o mentor for the RBSA ond the work wos corried out vlo VA Conservotlon, Oxford. The voluotlon of these Items Is shown on the bolonce sheet. Where costs ore incurred reloting to the preservotlon of Item5 these ore expensed In the yeor In whlch they occur. The mojorlty of Item5 Wlthln the collectlon ore unllkely to be dlsposed of as they relote dlrettly to the history of the Colleg& Any such d15POs01 would be wlth the outhorlsotlon of the Trustee5. but the value of the collection is more in terms of herltage. rather thon o signSficant volue In monetory terms. The herltage ossets were revolued durlng 2023 by Veronlko Vlkovo of Morevo Conservotion Ltd, o PACR Accredlted Conservotor-Re5torer. ond o Member of ICON. The revaluotlon resulted in on Increosed valuotlon for the heritoge ossets prevlously recognlsed In the balonce sheet to o volue of £1,216k. It also resulted In the cognitlon of an odditionol £642k of herltage ossets whlch were previously not recognised on ihe bolonce sheet. leoding to on overoll incfeose in volue of £1.033k. The Trustee5 ore sotlsfied thot this remoins o true flecrion of foir volue os at 31 July 2025. Poge 37

St Mary's Collegè Oscott CIO Notes to the Finonclal Stotements For the Year Ended 31 July 2025 13. Herltage assets (contlnued) Heritage assets not reported In the balonce sheet Records maintulnedof rhe collecfions andocce55 by thepubllc All Museum item5 ore recorded in on Inventory supported by o photogrophlc orchlve of the molor pieces in the collection. The mojority of items ore kept In the College Museum 05though some of the lorger pieces of sculpture ore on dlsploy oround the College. The Publlc hove occess to Oscott on many occoslons during the yeor, but ore speclficolly able to view items In the Museum collection during Visitor Sundoys (held once eoch term) and during College Tours, which run on most Wedne5doy ofternoons durlng term time, as long os thls does not interfere wlth the needs of the Seminary. Speclol Collection Librory The Special Collection Library contolns o collection of some 20,000 books from the 15th 19th Century. These were donated to the College going back over neorly 200 yeors ond records of the donors ore nol ovolloble In most coses. The books have been collected over the years through donations by Indivlduals ond parlshe5. but no signlficont donotlons hove been received in the lost 10 yeors. No voluotion hos been derived for the contents of the Speclol Collertion Lsbrory. It Is the Intentlon of the Trustees to Identlfu experts who may be able to volue these collections. but it is our opinion ihot it Is not currently posslble lo provlde o relioble estlmote of their volue in o cost effectlve manner. The lack of similar collections meons thot the cost of valulng such a diverse array of books significontly outwelghs the beneflt to the chorlly of dolng so. The Librory 15 on Important part of the hlstory of the Cothollc Church in the Untted Kingdom enobllng reseorch to be undertaken whilst preserying the books for future generattons. No sirnilor books have been sold recently so no market volues ore available wlth which to compare the 05cott Collection. All books ore cotologued ond ore ovoilable to reseorchers and mernbers of the publlc by prlor appointment with the Llbrarion. It 15 very unlikely that the collectlon would evef be disposed of. Upon request, ond poyment of o fee to cover cost& certain books have been digitolly sconned so that reseorchers overseos ore oble to access the texts. Some books are so dellcate thot this would not be posslble. The collectlon is housed In on environmentolly controlled ond damp proof room to preserve the book5 In os good o condltlon as posslble. The cost of any restoratlon or p￿servOtion is ossessed on o book by book bosis ond hos to be considered In relation to the perceived Importance of the documents concerned. Any such costs ore expensed os they occur and are usually budgeted for in odvonce. 8ecouse the collection is kept In o controlled environment the costs of such preservatlon are hopefully minlmlsed. Chopel and Sacrlsty Fixtures ond flttlngs There ore vorious vessels. chosubles and other church objects thcrt ore used In daily worshlp in the College Chapel by Osc0￿ s staff ond students. The majority of the items hove been at the College for o considerable tlme and hove been donated for Chapel use during the last 150 yeor5 or more. These Items hove not been volued os the cost of dolng so Is deemed by the Trustees to outweigh the benefit 05 the College would not look to dispose of anu Item5. The College hos Publlc Sundoy evening worshbp, during whlch the items ore used ond o display. All items hove been colologued ond are locked owoy when not in use. Any costs reloting to their preservotion or rep(3ir ore expensed os ihey occur. Page 38

St Maru's College Oscott CIO Notes to the Flnonclol Statements For the Year Ended 31 July 2025 13. Heritage assets (contlnued) Analysis of heritoge asset transactlons 2025 2024 2025 £000 2022 £000 2021 £000 £000 £000 Voluation of heritoge assets Existing museum ortefacts previously not valued Increose in voluotion of previously volued museum ortefacts 642 391 Change In valuatlon 1.033 14. Investment property Frèehold Freehold ground Investment property £000 Total £000 £000 Valuation At 1 Augv5t 2024 575 647 At 31 July 2025 575 72 647 V¢lu¢tions of Freehold Property Investments ond Ground Leoses were carried out in July 2024 by GJS Dillon, Chartered Surveyors ond valuers on on open morket bosig The Trustees ore sotisfied that this remolns o true reflection of fair volue as ot 31 July 2025. Freehold Ground leoses were re-volued in July 2024 ot between £26,000 and £46.000 eoch. The Trustees ore sgtisfied that thls remolns o true reflection of folr value os at 31 July 2025. Page 39

St Mary's College 05cott CIO Notes to the Flnanclal Statements For the Year Ended 31 July 2025 15. Flxed asset Investment$ 2025 £000 2024 £000 Llsted investments Morket volue ot beginning of period AddStions 27.455 27.855 11.560 25.966 Olsposols Unreollsed galns/llosses) Reoli5ed (losses)/goins U1.827) (28,539> 0,542) 3.73 1.574 (30) Morket value at end of pèrlod 28.550 27,453 Cosh held by 5nvestment monogers 1.915 3.462 30.445 30.915 The cosh held by investment rnonogers Includes o liquidlty fund whereby funds con be wlthdrown qulckly If needed. 16. Debtors 2025 £000 2024 £000 Due within one year Trode debtors 42 41 Other debtors Prepayments ond occrued Income 125 65 165 106 Poge 40

St Mory's College Oscott CIO Notes to the ￿nancial Stotements For the Yeor Ended 31 July 2025 17. Credltors: Amounts falling due wlthln one year 2025 £000 2024 £000 Trade credltor5 114 134 Other toxalion ond 50cioI securlty Other credltor5 30 32 Accruals and deferred income 50 54 197 220 18. Statement of funds Statement of funds - current year Balance at l August 2024 £000 Balance ot 51 July 2025 £000 Transfers in/out £000 Gains/ (Losses) £000 Incomé £000 Expendlture £000 Unrestricted fvnds Deslgnated funds Investment revoluotion fund 1957 (988) 1.969 Herltoge ossets revoluolion fund 1.858 1,858 Lond ond bullding5 revoluation fund 13.055 (25) 13,032 College molntenonce f und 5.000 (290) 290 5.000 Cemetery mclntenance fund 4.137 (23) 86 4.200 27.007 (336) 376 (988) 26.059 General funds Generol Funds 20.489 2.346 (2.968) (376) 2.332 21.823 Total Unrestricted funds 47.496 2.346 G.504) 1.344 47.882 Poge 41

St Mary's College Oscott CIO Notes to the Flnandal Statements For the Year Ended 31 July 2025 18. Stotement of funds (contlnued) Stotement of f und$ - prlor year Bolonce ot l August 2023 £000 Transfers in/out £000 Gains/ Bolance ot (Losses) 31 July 2024 £000 £000 Income £000 Expenditure £000 Unrestrlcted funds Designated funds Investment revaluotion fund 4.499 0.542) 2.957 Herttoge ossets revaluotion fund 1.858 1.858 Lond and bulldlngs revaluation fund 13,078 (23) 13.055 College molntenonce f und 5.000 (565) 565 5.000 Cemetery mointenonce fund 4.069 (33) (7) 101 4,137 Museum fund (59) Environmentol projects fund 92 (92) 28.662 (628) 515 (1.542) 27,007 General funds Generol Fund5 17.815 2.600 (3,134) (515) 3.723 20.489 Totol Unrestrlcted funds 46,477 2.600 (3.762) 2,181 47.496 Poge 42

St Mary's College Oscott CIO Notes to the Flnanciol Statements For the Year Ended 31 July 2025 18. Statement of funds (contlnued) Investment revaluation fund Thls represents the revoluotion element of the Investments whlch fluctuate on o doy to doy bosls. The trustees befieve Ihot It Is Inappropriate to consider thot this unreolised surplu5 is ovolloble for the ongoing work of the College. Thi5 includes unreolised voluation movements in Investment property. Herltuge asset revalvatlon fund Thls represents the revoluotlon of Heritoge 05sets held by the College. The Irvstees believe thot tt is inoppropriote to consider that this unreollsed voluotlon surplus Is avalloble for the ongoing work of the College. Lond and buildings revaluation fund Thls represents the revoluotlon of College land ond buildings. The trustee5 believe thot It Is Inappropriote to conslder that this unreollsed valuotlon surplus Is avolloble for the ongolno work of the College. College maintenance fund This fund is colculated bosed on on estlm(rte of future molntenonce of the College building and grounds over the next ten yeors. It represents the ongolng onnuol mointenance costs 05socloted wlth on asset of the size ond quolity of the College. in order to keep the fobri¢ of the bulldlng sound and suitable for the purposes of the chority. Cemetery malntenonce fund This is on amount set oslde to meet the estlmoled cost of providlng future mointenance to the buriol plots. each of which Is leosed to the plot holder for o period of 75 years. Mus•um fund Thls fund wos creoted to Identlfy the revenue from the coln sole In 2020. which w05 set a51de to fund o refurbishment of the Museum disploys ond storoge cabinets. which hove now been purchosed. Thls hos been fullu utllised ond the year end bOlon￿ Is £NII. Environmental projects fund Thls fund wos creoted to designote f(Jnd5 for use In envlronmentol copitol projetts. Thls hos now been fully utlllsed and the year end balance Is £NII. Poge 43

St Mary's College 05cott CIO Notes to the Flnanciol Statements For the Year Ended 31 July 2025 19. Analysls of net assets between funds Analysis of net assets between funds- current year Unre5trlcted funds 2025 £000 Totol funds 2025 £000 Tonglble fixed ossets Flxed osset Invesiments 13.959 13.959 30.445 50.445 Inve5trnent property 647 647 Heritage ossets 1,858 1.858 Current ossets 1.170 1.170 Credltors due wlthln one year (197) 097) Total 47.882 47.882 Anolysis of net assets bètween funds - prior yeor Unrestrltted funds 2024 £000 Total funds 2024 £000 Tangible fixed ossets Flxed osset Snvestments 14,108 14.108 30,915 30.915 Investment property 647 647 Heritoge assets Current assets 1.858 1.858 188 188 Creditor5 due withln one year (220) (220) Total 47.496 47.496 Poge 44

St Manj's College Oscott cio Notes to the Flnanclal Statements For the Yeor Ended 31 July 2025 20. Reeonclllatlon of net movement In funds to net cash flow from operatlng octlvltles 2025 £000 2024 £000 Nei income for the year (os per Stotement of Flnonclol Actfvlties) 386 1.009 Adjustments for.. Depreciotlon chorges Net (goln) /10ss on Investments Investment Income recelvable 195 181 0.391) (2.171) (940) (583) (Increose)/decre¢se in debtors Increase In creditors (59) 24 46 43 Net cash used In opèratlng actlvltl6s 0.428) 0.832) Analysis of cash and cash equivalents 2025 £000 2024 £000 Cash In hond 1,005 82 Total cash and cosh equlvalents 1.005 82 22. Anolysis of changes in net debt At 1 August 2024 At 31 July 2025 £000 Cash flows £000 £000 82 Cosh ot bonk and In hond 923 1,005 82 923 1.005 Poge 4S

St Mary's College Oscott CIO Notes to the Financial Statements For the Year Ended 31 July 2025 23. Pension commttments The Chorlty operotes o defined contributlon penslon scheme. The ossets of the scheme ore held seporatelu from those of ihe Charlty In an Independently odmlnistered fund. The penslon c05t charge represents contributions payoble by the Charlly to the fvnd. At the bolonce sheet dote £Nil (2024 £Nil) wos poyoble to the fund. 24. Related party transoctlons The Most Rev. Bernord Longley, Right Rev. Richord Wolker, ond Right Rev. David Evons ore trustees of St Mory's College oscott CIO and are olso trustees of the Archdiocese of Blrminghom - Chority no 234216. Student fees ore chorged to the Archdiocese for seminorlon5 Ot the standord full rote. During the yeor £164k wos charged to the Archdiocese of Birmlnghom in Seminorian and dioconate fees (2024.. £155k). In oddftlon. rent of £48k (2024-. £47k) was chorged to the Archdsocese for use of Grove House ond other offlce space on the college slte. Rent is chorged ol morket rotes and Included withln renlol income. Rechorges for staff seconded to the Archdiocese omounted to £33k (2024.. U2k) ond other rechorges amounted to £1k (2024: £1k)- Other Income omounted to (2024.. £8k). At the year end there was a bolonce of £IOk (2024.. £10k) owed to the college. Stipends ond expenses of £77k (2024-. £76k) were poid to the Archdlocese of Birminghom in respett of resldent prlests. ond are inclvded within Lecturers. costs. No bolonces remoined poyoble at the yeor end (2024.. £nll). A further £16k (2024.. £13k) wos charged to the diottse for Olocesan retreots and events hosted al the college. No trustee or other person related to the Chorltu had ony per50nol interest In anu controct or tronsoctlon entered into by the Chority durlng the yeor. Poge 46