2025-12-31-accounts

Society of the Holy Child Jesus CIO

Annual Report and Accounts

31 December 2025

Charity Registration Number 1177555

Contents

Reports

Reports	Reports
Reference and administrative details of the
charity, its trustees and advisers	1
Trustees’ report	4
Independent auditor’s report	28
Accounts
Statement of financial activities	33
Balance sheet	34
Statement of cash flows	35
Principal accounting policies	36
Notes to the accounts	42

Society of the Holy Child Jesus CIO

Reference and administrative details of the charity, its trustees and advisers

Trustees Province Leader Provincial Bursar Principal office Website address Charity Registration Number Auditor

Sister Monica Matthews (Chairperson from 1 May 2026) Sister Angela O’Connor (Chairperson to 30 April 2026) Sister Jenny Bullen Sister Helen Costigane Sister Eileen Crowley (retired 30 April 2026) Sister Patricia McDonald (appointed 1 May 2026) Sister Judith Lancaster Sister Carmel Murtagh Sister Celestina Oyidu Okwori Sister Gifty Abane Sister Anne Stewart The trustees are incorporated under the Charities Act 2011 Sister Monica Matthews (from 1 May 2026) Sister Angela O’Connor (to 30 April 2026) Sister Carmel Murtagh Provincial Offices Apley Grange, 35 Oatlands Drive Harrogate HG2 8JT www.shcj.org 1177555 Buzzacott Audit LLP 130 Wood Street London EC2V 6DL

Society of the Holy Child Jesus CIO 1

Reference and administrative details of the charity, its trustees and advisers

Investment managers Evelyn Partners 45 Gresham Street London EC2V 7BG Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU Cazenove Capital 1 London Wall Place London EC2Y 5AU CCLA Investment Management Limited One Angel Lane London EC4R 3AB Bankers Metro Bank plc 4-5 Queen Street Oxford OX1 EJ Royal Bank of Scotland plc 7 Cambridge Crescent Harrogate HG1 1PH Solicitors Stone King LLP Upper Borough Court (UBC) Upper Borough Walls Bath BA1 1RG Wilsons Solicitors LLP 4 Lincoln Inn Field’s London WC2A 3AA

Society of the Holy Child Jesus CIO 2

Reference and administrative details of the charity, its trustees and advisers

Property Advisors Newmark One Fitzroy 6 Mortimer Street London W1T 3JJ

Society of the Holy Child Jesus CIO 3

Trustees’ report Year to 31 December 2025

The trustees present their statutory report and the accounts of the Society of the Holy Child Jesus CIO (the “charity”) for the year to 31 December 2025.

The accounts have been prepared in accordance with the accounting policies set on pages 36 to 41 of the attached accounts and comply with the charity’s constitution, applicable laws and requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Introduction

The Society of the Holy Child Jesus (SHCJ) (referred to as the “Society”) is an international Roman Catholic Religious Order of around 300 sisters worldwide, with a network of associates. It was founded in England in 1846 and the Generalate is now situated in Rome, Italy. The Society comprises three provinces, Europe, Africa and the Americas.

The accounts accompanying this report are the accounts of the charity through which the activities and net assets of the Congregation in England are administered. The charity is a Charitable Incorporated Organisation (CIO) and is governed by a Constitution dated 14 March 2018 and is registered under the Charities Act 2011 – Charity Registration No. 1177555.

Mission

The object of the Society of the Holy Child Jesus CIO is to support the religious and other charitable works carried on by the Society and its members.

By caring for individual members of the Society throughout their lives with the Society, the charity aims to enable and support the sisters to live out their faith and to put that faith into practice through a wide variety of religious and other charitable works.

When setting objectives and planning the work of the charity for the year, and when encouraging the work of individual sisters, the trustees have given careful consideration to the Charity Commission’s guidance on public benefit.

The work or ministries of the sisters fall into the following main areas:

Worship and prayer

Worship and prayer are integral to the lives of the members of the Society. Each sister is given the opportunity for private prayer and continued spiritual and theological development. Members avail of opportunities to celebrate and pray with the wider community when possible. Several sisters provide spiritual guidance and are available to listen to people who need support. Some give occasional retreats and days of reflection.

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Trustees’ report Year to 31 December 2025

Grant Making

The charity accepts applications for grants from other charities and not for profit organisations. An annual grant making budget of £900,000 is approved by the trustees. The trustees’ grant making policy is posted on the charity’s grant making website (www.shcj.co.uk) along with the principles the trustees apply when approving grants and the procedure for applying for a grant. The trustees have determined that the current priorities for support are Education, Environmental Justice, Social Justice, Anti-Trafficking, Refugees and Asylum Seekers. The grant making policy is reviewed regularly.

Caring for members of the Society

The majority of sisters are over 85 years of age. While a small number are still active in ministry an increasing number are in need of extra care. Apley Grange, a CQC registered care home in Harrogate, Yorkshire provides this care. Apley Grange also cares for a small number of private residents.

Education

The European Network of Holy Child schools is supported by the Trustees. The coordinators of the network arrange an annual residential meeting for head teachers and occasional meetings for other members of staff. They also work with the schools to produce leadership and governance materials to facilitate lay engagement with the Holy Child vision and mission. The trustees also give some financial support to other educational projects.

Human development, social and pastoral work

Several members of the Society are involved in various forms of human development, facilitation, social and pastoral work in different parts of the country. The sisters aim to help in particular poor and marginalised people in society regardless of their personal background, faith, gender or individual circumstances.

Overseas Work of the Society

In addition to its broader grant making activities, the charity supports the work of the Society in Nigeria, Ghana, Chad, and Kenya. This is done through support of a Society wide strategic plan.

Associates

Associates are women and men who make a commitment to the Society and involve themselves in its spiritual and apostolic work. The trustees support the Associates in developing their ministry to the wider community.

Activities, specific objectives and relevant policies

Activities and specific objectives

The charity aims to care for individual members of the Society throughout their lives and to enable and support them to live out their faith and put faith into practice in whatever situation they find themselves in. It also aims to make a contribution to society apart from the work of sisters. This it does through grant making in the UK and Ireland.

Caring for members of the Society

There were 43 members in the European province on 31 December 2025 with the average age of sisters being 83. This age profile means that there is a need to provide expensive

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Trustees’ report Year to 31 December 2025

healthcare. Twenty of the sisters are currently resident in the Society’s care home. The Society has an obligation, both moral and legal, to provide care for its members, none of whom has resources of her own. All Society members have devoted their lives to educational, pastoral or social ministries particularly to those who are most in need.

The age profile of the Society in the European Province is shown graphically below:

Age Profile 31 December 2025

The objectives of the trustees over the next few years in respect to the care of the sisters include:

•  Providing support and care for all members of the Society, responding to the changing needs of the members of the Society;

•  Refurbishing and expanding Apley Grange to provide additional care facilities for both sisters and private residents and ensuring that quality care is provided in a manner that is financially sustainable. Work began in July 2024, completion is expected in the summer of 2027. Residents remain in the home while work is being done. Ensuring their safety and minimising the impact of works on them is a key objective at this time.

•  Enabling members of the Society who do not yet need care to continue in ministry for as long as possible; and

•  Reviewing the properties owned by the charity and determining their suitability as homes as the sisters age. Where properties are deemed unsuitable for current needs, alternative accommodation will be found for the sisters.

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Trustees’ report Year to 31 December 2025

Enabling and supporting members in a variety of religious and charitable works

The principal works in which the sisters engage include: worship and prayer; education in its widest sense of encouraging mature reflection on the needs of the present day and working with other local groups and charities to enact this; human development and spiritual and pastoral work; and care of the sisters.

Worship and prayer

The charity is committed to supporting the faith lives of the sisters and helping them and as many people as possible to join with the sisters in prayer and reflection, with the aim of putting faith into action.

The objective of the trustees is to support sisters who are involved in a number of activities which include:

•  Promoting Gospel values and vision including the promotion of human dignity, respect for different cultures and faith traditions;

•  Encouraging care and respect for all creation, promoting prayer resources that focus on care of our common home;

•  Encouraging members in their commitment to the Laudato Sì Action Platform, an initiative of the Vatican Dicastery for promoting Integral Human Development, which urges us all to respond to the ecological crisis;

•  Engaging in parish ministries, visiting the housebound, sick or dying;

•  Organising retreats and reflection days which give members of the wider community the opportunity to have periods of time for quiet contemplation and reflection, and the chance to study and consider the Gospel; and

•  Promoting the Associate programme which allows a wider group to share in the charism of the Society.

Grant making

The charity makes one-off grants distinct from the more informal donation giving which continues to operate but which typically gives smaller amounts to organisations well known to one or more of the sisters. Grants support the objects of the charity through enabling and encouraging the work of charities operating in the UK. As the age profile in the Society has changed and fewer sisters are in active ministry, the trustees have chosen to widen the charity’s outreach and public benefit by giving grants to support social justice, environmental justice, anti-trafficking, projects that support refugees and asylum seekers, and educational projects that help maximise the potential of those who have experienced social and economic disadvantage.

Donations and other payments in support of ministry are decided by the trustees in consultation with other members of the Society as appropriate.

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Trustees’ report Year to 31 December 2025

Caring for retired sisters

The Society owns and runs Apley Grange, a registered care home for older and infirm sisters and private residents who are not members of the Society. Care is provided respecting the dignity, privacy, rights and quality of life of all residents. Respite care is offered to both sisters and private residents on a temporary basis. Apley Grange is a place where older sisters are able to support the religious and charitable works of the charity. Prayer is at the centre of the life of the community. Private residents, staff and guests are welcome to join the community for worship. Apley Grange had a capacity of 42 residents but during the refurbishment this has been reduced to 33. When the refurbishment is complete it will be able to accommodate 58 residents.

In operating the home, the trustees aim to:

•  Provide residents with excellent care which will enable them to live life as fully as possible to the end;

•  Employ qualified staff to care for the residents; ensure that staff receive appropriate ongoing training and updating;

•  Ensure that the home continues to meet the requirements of the Care Quality Commission (CQC) and that any recommendations arising from the inspections are acted upon quickly and effectively;

•  Ensure that the home remains an integral part of the community of the Society and of the local wider community in Harrogate; and

•  Maintain the financial security of the home through careful budgeting, controlling, and monitoring expenses, securing all possible sources of statutory income, and continuing to welcome fee-paying residents. The Society is currently refurbishing and expanding the home over the coming years to increase capacity and benefit from economies of scale.

Education

The charity enables and supports the educational activities of its members.

•  Two sisters teach at tertiary level (Biblical Studies, Canon Law, Christian Ethics, and Pastoral Theology);

•  One sister counsels students at primary level;

•  One sister is involved in adult education through the University of the Third Age (U3A);

•  Sisters support a network of schools founded by the Society by means of two annual meetings, one of headteachers and governors and a second of other staff members.

Human and spiritual development and pastoral work

The charity aims to enable and support sisters in ministries which fulfil the Society’s mission to help people to grow strong in faith and lead fully human lives. Sisters who are retired continue to support parishioners and be involved in local charities.

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Trustees’ report Year to 31 December 2025

Support of the Society worldwide

The charity provides financial support to the ministries of the Society across the world through contributions to the Generalate in Rome. In particular, the charity contributes financially to rapidly developing educational ministries in Chad, Ghana and Nigeria in the African Province of the Society.

The trustees’ objectives are to support ministries recommended to them by the Society Leadership Team after consideration by the International Finance Committee on which there are two members of the European province.

Associate programme

The associate programme offers those who are not members of the Society, men and women, the opportunity to share in the charism and mission of the Society through regular meetings for prayer and reflection many of which are now on Zoom.

The objectives of the trustees are to:

•  Include the associates in the life of the Society; and

•  Enable sisters to support associates’ meetings for prayer and reflection.

Volunteers

Members of the Society give their time to assist people who are poor, vulnerable, marginalised or in need of help in different ways. This voluntary work contributes to the overall achievement of the charity’s objectives. It is very difficult to provide any sort of quantitative analysis. The nature of the volunteering is changing as the average age of sisters increases but the sisters are committed to doing what they can in the circumstances of their lives.

In addition, members are involved in administering the work of the Society and charity. Without their contribution the charity would not be able to function as effectively or fully as it does. Because of the diversity of work, it is difficult to quantify this contribution in monetary terms. However, a conservative estimate of expenses saved is around £200,000.

Investment policy and performance

The charity’s investments during the period were managed by Evelyn Partners, Sarasin and Partners LLP and Cazenove Capital. There are no restrictions on the charity’s power to invest.

The investment strategy is set by the trustees and takes into account income requirements, the risk profile and the investment managers’ views of the market prospects in the medium term.

The trustees hold the Society’s resources for mission and their management and use of them are expressions of the charity’s objects and the Society’s mission. Trustees wish the investments to be aligned with the charity’s guiding principles of the enhancement of human dignity and the care for our common home and the values that flow from this: justice, peace and compassion.

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Trustees’ report Year to 31 December 2025

The investment policy is to maximise total return through a diversified portfolio whilst providing a level of income advised by the trustees from time to time. An ethical policy precludes investment in any company which, after reasonable enquiry, clearly has significant profits from an activity which is contrary to the objectives of the Roman Catholic Church. The trustees expect the investment managers to apply Environmental, Social and Governance (ESG) criteria when selecting investments.

The performance of the portfolio and the charity’s investment strategy are reviewed by an investment committee which meets with the investment managers every six months and reports back to the trustees.

The investment managers continued to invest in accordance with the trustees’ investment policy and comply with the ethical guidelines given to them.

During the period, the charity’s investments achieved an income yield of 2.1% (2024 – 2.7%). At the end of the period the charity’s portfolio of listed investments comprised 36% UK equities (2024 – 30%), 61% overseas stocks (2024 – 64%) and 3% cash (2024 – 6%).

Fundraising policy

The charity manages its own fundraising activities and does not employ the services of a Professional Fundraiser. Any complaints about the quality of our fundraising activities are thoroughly investigated so that we find ways to improve our service. During the year ended 31 December 2025, the charity received no complaints about its fundraising activities.

Some of our funding comes from voluntary donations. The trustees are vigilant in applying the donations according to the wishes of the donors. The charity applies best practice to protect donors’ data and never sells data; it never swaps data with other organisations and ensures that communication preferences can be changed at any time.

Achievements and performance

During the year the Society continued to give grants in the UK and to support the development of ministry in the wider Society.

Refurbishment of Apley Grange started in July 2024 and will continue into 2027.

The Education Network continued to support the seven very diverse schools all of which were founded by the Society but are no longer run by it. The focus in 2025 was on training Governors and newer members of staff in the Holy Child ethos.

Sisters continued to support people in need as best they could, they also engaged in and provided prayer opportunities.

Grants, donations and support of ministry in the Society in Africa

Grants are given to registered charities and other charitable organisations operating in England and Wales.

The priorities for grant support continue to be:

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Trustees’ report Year to 31 December 2025

•  Education in the widest sense – particularly educational projects that help maximise the potential of those who have experienced social and economic disadvantage;

•  Environmental Justice – projects that support the care of the earth and eco-justice;

•  Social Justice – projects that tackle poverty, the causes of poverty and economic inequality, particularly homelessness;

•  Anti-trafficking – projects that aim to help those who are victims of human trafficking and are escaping exploitation, projects addressing modern slavery; and

•  Refugees and asylum seekers – projects supporting migrants, asylum seekers and refugees.

During the year the Society gave 72 grants totalling £895,000 to charities working within our grant priority areas. £100,000 was given to support anti-trafficking, £300,000 for the support of refugees, £215,000 towards social justice, £105,000 towards environmental justice and £175,000 towards education. (A table listing all of the grants can be found in note 6).

Below we highlight a few of the charities supported in 2025.

Better Planet Education is a charity that aims to inspire young people to live their lives in a way that promotes caring for the environment. Their mission is to ensure that every young person in the UK has access to comprehensive and engaging environmental information, empowering them to make informed and responsible choices. They operate an online educational platform specifically designed for primary schools across the UK. Participating schools engage in addressing environmental issues each term, with students playing a leading role in implementing action plans. They provide lesson plans, presentations and ideas for learning activities and an end-of-term activity in which the whole school can get involved.

A free information service is available through their website. They offer free downloadable lesson plans and free school talks. Young Trustees, aged 16 to 24, serve as advisers to the Director and Board of Trustees and contribute to identifying environmental projects that resonate with young people.

Grant: £20,000 toward core costs.

Impact

The grant helped Better Planet Education reach out to more than 700,000 young people and teachers via their website. Almost 620 primary schools have registered with the charity and they hope to add a further 200 in the 2025-2026 school year.

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Case Study

Leweston Prep School, near Sherborne, has been taking part in Better Planet Schools since the summer term of 2024. The modules they have covered include plastic and waste, saving energy and fast fashion. Recycling was introduced to every classroom. The Better Planet Crew who lead activities carried out ‘energy walkarounds’ of the classrooms at lunchtime to ensure that lights were switched off and

smartboards and projectors were on standby. The Crew also help a Fashion Swap open to all of the children in years 3-6. Children were asked to bring items of clothing, which they had grown out of. 300 items of clothing were swapped and 60 children took part. The Better Planet Crew will be creating more opportunities for wildlife and biodiversity in the school grounds. The school has signed up for a second year of participation in the programme.

Breadwinners’ mission is to tackle unemployment, poor wellbeing and mental health by providing young refugees and people seeking asylum with their first work experience in the UK and supporting them to progress in their careers. They achieve this goal through three programmes which involve selling bread either on market stalls or wholesale.

Risers programme is a two-month programme designed to provide structured work experience, training and mentorship to newly arrived young people seeking asylum through 16 stalls. Breadwinners programme is a follow up programme for refugees with the right to work; they work as market stall managers for six months and earn the UK living wage. Proofers programme entails working remotely as a part-time online sales representative for six months, managing the wholesale delivery model.

Breadwinners are managed with a volunteer mentor. Participants also receive fortnightly employment training covering topics such as customer service, interview skills, finance, food safety and hygiene level 2.

Grant: £10,000 toward the Breadwinners programme in Brighton.

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Trustees’ report Year to 31 December 2025

Impact

The grant enable six refugees to take part in the ‘Breadwinners’ programme and work at 5 market stalls. Trading at the stalls also enable Breadwinners to run their Risers Programme which supported 14 young people seeking asylum to gain work experience every three months. Since 2017 Breadwinners have supported over 604 participants in their programmes, delivered across London and Brighton, with 92% reporting notable improvements in their overall well being.

Case Study

Lama arrived in the UK from Saudi Arabia and was living in a Home Office hotel. She heard about Breadwinners through a friend and signed up to the Risers Programme. Lama was engaged and keen to learn and get work experience through completing the programme. ‘I face a new life, people and environment. I was too afraid to try anything new until a friend referred me to Breadwinners … I still remember the very first day that I met everyone: Antonia, Becca and the rest. It felt so overwhelmingly comfortable meeting many people with the same questions and passion that I had-even more comfortable knowing there are people here to help.’ Having received her right to work in the UK she immediately signed up to the Breadwinners Programme to start paid work. Lama was a brilliant Market Stall manager. Just before the end of her time on the programme Lama secured a full time position as an assistant at an in-store M&S bakery.

Clean Slate Solutions mentors people with a past conviction into employment. Working ‘through the

gate’ (in prison) with beneficiaries, up to 12 weeks before their release date, they triage employment needs and aspirations, starting the work of supporting people into employment ready for when they are in the community. They also work with people already living in the community who need help. Clean Slate Solutions empowers beneficiaries to break free from the cycle of reoffending by providing them with opportunities for personal growth, to foster reconnection with their families, promote independence and boost self-esteem.

Grant: £20,000 toward core costs.

Impact

The grant given to Clean Slate enabled them to achieve the following outcomes: Engagement with up to 75 people over 12 months across North Yorkshire and Teesside, and 15 people from York; Actively working with 62 of these people; Moving 43 into full time employment, achieving the Real Living Wage; ensuring 77% remain in employment beyond three months, 60% remain longer than six months; maintaining a low reoffending rate of less than 2.8%; 90%

of participants reported improved hope, confidence and financial independence.

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Trustees’ report Year to 31 December 2025

Since 2020 Clean Slate have supported over 600 participants, with 420 successfully entering paid employment and 78 progressing into further education.

Case Study

During the final months of his sentence, Wayne was introduced to Clean Slate Solutions. Determined to rebuild his life, he was eager to take the first steps toward a brighter future. His mentor, Lorna, encouraged him to revisit his CV, reminding him of the successful career he had built previously. This reignited his confidence and hope. Lorna introduced Wayne to Joe, who visited him in his cell for a candid one-on-one conversation. ‘ Joe actually came to my cell, sat on a chair in my room, and we had a really normal conversation – just two blokes both wanting my life back on track.’ They reviewed his CV, discussed aspirations and explored opportunities. By coincidence Joe had recently met one of Wayne’s former employers. Despite being let go by this employer after his arrest, Clean Slate Solutions facilitated a video interview with the company’s Director while Wayne was still in prison. To his surprise the interview was a success and he was offered a job. When Wayne was released, he returned to his family with a job offer in hand. ‘ There aren’t many feelings of relief that can compare to being released from prison back to my family, but to do it with a job offer in my pocket made all the difference in the world. Thank you to all at Clean Slate Solutions .’

Feeding Families is the largest independent food support charity in North East England, where there are some of the UK’s highest child poverty rates and thousands of women and children are going hungry. Each year the charity provides tailored food support to thousands across the region, many of whom face barriers to traditional forms of help. Food boxes are tailored to meet the specific needs of individuals and families, including culturally appropriate food, low-cook and no-cook boxes and rough sleeper packs. Feeding Families offers fast, discreet support through trusted frontline partners. The partners include a women’s refuge for survivors of abuse, a refugee welcome project, a housing provider and advice service, a woman’s mental health charity and a project for women at risk of forced marriage and honour-based violence.

Grant: £10,000 towards food support for vulnerable women

Impact

The grant provided helped Feeding Families deliver 1,000 tailored food boxes, provide 15,000 nourishing meals to approximately 2,000 individuals, engage with 11 frontline partners for referrals and coordination.

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Trustees’ report Year to 31 December 2025

The project improved nutritional access, strengthened mental wellbeing, household stability and increased engagement with NRS, housing and support service. Last year Feeding Families, in total, worked with 366 partners to distribute 44,610 food boxes, including 28,769 essential food boxes, supporting 89,220 people.

Case Study

Amina, a single mother of four, was supported by one of the trusted delivery partners, Peace of Mind, during a time of deep crisis. Her youngest child was subject to a Child Protection Plan, and the family faced severe poverty and immigration restrictions. Their home was often unheated and Amina struggled to meet basic needs for her children. Social services warned that unless the home environment improved, she risked losing custody of her child. Feeding Families provided Amina with a culturally appropriate food box as part of a coordinated package of support. This allowed Amina to redirect her limited income towards heating costs, ensuring her children were warm and safe. It also helped address immediate safeguarding concerns, giving social services reassurance. The food support provided more than just relief from hunger, it helped reduce the risk of family separation and gave Amina breathing space, while engaging with services to stabilise their situation. (The client’s name has been changed)

Literacy Pirates’ vision is for every child to have literacy skills, confidence and perseverance to succeed at school and beyond. The provide free after-school literacy support to children who are falling behind in class and who have fewer opportunities because of their personal circumstances. Young Pirates aged 9 to 13 years old are nominated by their school because they are struggling and have socio-economic barriers to educational success. Literacy Pirates’ work is narrowing the educational attainment gap for these children since literacy is key to education success and those from disadvantaged backgrounds generally have lower outcomes.

Grant: £10,000 toward core costs

Impact

The grant helped Literacy Pirates support 650 children from across the UK, identified by their teachers as falling behind in class, and facing disadvantage in their home lives. One-on-one and small group sessions with trained volunteers boosted their literacy, confidence and perseverance and helped them develop skills they need to succeed in school and beyond.

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Case Study

Vadym, a year 5 pupil, was referred to Literacy Pirates by his teacher to boost his English skills. He had arrived in the UK at the end of year 3 and was relatively new to reading and writing in English and lacked confidence. At the start of the programme, Vadym was reluctant to contribute, however, with support and engagement from Volunteer Crewmates, he build the confidence he needed to real aloud. Over the course of the term, he impressed Session Leaders with his ideas and growing confidence. As his reading fluency grew, so did his willingness to share, and by the end of the term he was able to stand up and read his own writing in front of a large group of Young Pirates and their families. Vadym has worked hard to develop well rounded fictional characters. Session Leaders were impressed by his understanding of character emotions. His poem and short story were unique and engaging. His volunteer crewmate stated ‘ Vadym was incredibly quiet and reluctant to share in session when he started, but, in a short time his confidence grew and grew! ’

Rebuild East Midlands is the only long-term specialist provider of Modern Slavery support in Derbyshire. They deliver holistic, person-centred support that helps survivors rebuild their lives with safety, stability and dignity. Survivors face serious barriers - housing instability, legal challenges, financial hardship, and trauma – and cuts to vital services have only deepened these difficulties. Support is provided through Open-Ended Casework, Therapeutic Support, Community Engagement and Training.

The aim of the charity is to ensure that individuals are no longer at risk of being re-exploited; will have recovered, or are recovering, from the ongoing impact of trauma; feel connected to their local community or a social network; are in employment, training or education; and are in stable accommodation.

Grant: £20,000 towards long term support

Impact

During the year the grant enabled Rebuild to support 41 people with one-to-one intensive casework, advocacy support and group activities. Many of these people have secured housing, employment or training during the year. 10 people were supported to exit exploitation. 15 people began recovery from the mental impact of exploitation through the wellbeing and therapy programme. The charity indirectly supported 23 children through family activities, with school applications, food packages and general support.

Since 2019 Rebuilding has worked with 103 survivors, offering a person-centred, trauma informed approach that addresses the deep, systematic barriers to recovery.

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Case Study

Tony initially accessed support for small tasks, preferring to manage independently. Over time, his caseworker maintained gentle, minimal check-ins, recognising that trust takes time to develop after experiencing exploitation. When a crisis hit, Tony had no one else to turn to and reached out for support. Over an eight-month period, his caseworker worked alongside him to resolve benefit issues, prevent financial destitution, access medical care, secure stable accommodation, set up utility bills and budgeting plans. Six months later, Tony entered full time employment, moved off benefits and expressed that he finally felt happy, safe, and excited about his future.

Support of Ministry in the Society in Africa

• Care Home and Chapel, Abeokuta, Ogun State, Nigeria

Sisters in the African Province are getting older and there are now some in need of care. The European Province is supporting the African Province with the development of a Care Home that will provide suitable accommodation and meet the environmental, medical, psychological and spiritual needs of the sisters who will use the facility. The Care Home will also allow elderly sisters to continue to engage in activities to the best of their ability. The aim is to enable sisters to be supported as they continue to find fulfilment in life and age gracefully.

“On behalf of the Leadership Team and all the Sisters in the African Province, I wish to express our sincere and heartfelt gratitude to the European Province Leadership Team and all our Sisters in the European Province for funding the construction of the Care Home and Chapel for our aged and sick Sisters. This project responds to a deeply felt and long-standing

need within the Province, as some of our Sisters advance in age and some face increasing health challenges. Your generous and sustained support has made it possible for this vital initiative to become a reality, and we are grateful that the project is progressing steadily through its various stages of construction.” (African Province Leader).

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The Care Home will open in late 202 6.

• Society Wide Initiatives – Society Strategic Plan 2025-2030

The European Province has also continued to support Society wide initiatives. In 2025 it supported workshops on Racism, Tribalism and Colonialism which were offered in person in the African Province and over Zoom in the American and European provinces. A pilgrimage was organised to places associated with Cornelia and the Society in Italy and England. Twenty two members of the African Province took part.

Financial Review

Results for the period

A summary of the results for the year to 31 December 2025 can be found on page 33 of this report and accounts.

Total income amounted to £4.46 million (2024: £4.78 million). £0.87 million (2024: £1.28 million) was received by way of donations and legacies. This figure includes salaries and pensions of the sisters amounting to £0.81 million donated to the charity using a Gift Aid compliant deed of covenant (2024: £0.82 million). Investment income and interest receivable totalled £2.34 million (2024: £2.81 million). Surplus from the disposal of fixed assets totalled £0.46 million (2024: £Nil) mainly in relation to a property sold in Kent.

Expenditure for the year ended 31 December 2025 totalled £8.10 million (2024: £7.55 million). The total expenditure on the provision of residential care services to fee paying residents was £0.80 million (2024: £0.75 million) with staff costs representing a very significant proportion of this. Staff costs in total amounted to £2.14 million (2024: £1.95 million). Total expenditure incurred on maintaining the members of the Society and supporting them in their pastoral work and ministry amounted to £3.06 million (2024: £2.76 million). Grants and donations amounted to £3.94 million (2024: £3.89 million). Fees paid to the charity’s investment managers during the period amounted to £0.29 million (2024: £0.15 million).

Society of the Holy Child Jesus CIO 18

Trustees’ report Year to 31 December 2025

Net expenditure before net investment gains was £3.6m (2024: net expenditure of £2.8m). Net investment gains of £4.9m (2024: £6.9m) resulted in a net increase in funds for the year of £1.2m (2024: £4.2m).

Reserves policy and financial position

Reserves policy

The reader will discern from the foregoing that the charity carries out a diverse range of activities and is responsible for care and support of sisters whose average age is increasing and whose needs are changing. The trustees have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes, or otherwise committed. In considering the level of reserves, trustees take into account forecasts of future income and expenditure, potential needs and risks, and the need to ensure the continuity of activity.

The trustees consider that, given the nature of the charity’s work and its commitments, the level of free reserves that should be available to the charity should be between two and three years’ expenditure.

Financial position

At 31 December 2025, the charity had net assets totalling £115,040,413 (2024: £113,821,693).

Of this, £Nil (2024: £Nil) was restricted and was to be applied for specific purposes.

A further £81.6 million (2024: £88.9 million) had been set aside or designated by the trustees for specific reasons:

• £28.7 million had been set aside to provide for the Sisters in their retirement, none of whom have resources of their own. The amount needing to be set aside was reassessed during the year. The calculations, based on actuarial assumptions, indicated that £28.7 million was needed to be set aside to provide support for Sisters in their retirement (2024: £26.8 million). Therefore £1.9 million was transferred from general funds.

• £30.2 million had been set aside for the continued development of a formal grant making programme;

• £3.9 million comprised a Society Strategic Plan fund to support the international work of the Congregation, including the implementation and achievement of the Societywide Strategic Plans;

• £13.8 million had been designated for the development and refurbishment of property; and

• £5.0 million had been designated for the establishment of the independent Apley Grange CIO.

Society of the Holy Child Jesus CIO 19

Trustees’ report Year to 31 December 2025

£15.2 million (2024: £10.1 million) represented tangible fixed assets essential for the support and work of the Sisters and not available to meet ongoing expenditure.

Therefore, at 31 December 2025, the CIO had free reserves of £18.3 million (2024: £14.8 million). The level of free reserves is within the amount required by the reserves policy of the CIO set out above. The trustees are conscious of the fact that listed investments comprise the key asset and that these may be subject to significant fluctuation given the current economic climate and political uncertainty in the United Kingdom, Europe and elsewhere in the world. Consequently, the trustees are of the opinion that the level of free reserves is adequate but not excessive at the current time.

Tax exemptions etc

The beneficiaries of the work of the charity have the assurance that all of the income must be applied for charitable purposes in furtherance of the object of advancing the Roman Catholic faith. The charity enjoys tax exemption on income from its activities and on its investment income and gains provided that these are applied for their charitable aims. It is also entitled to a reduction of 80% on business rates on the property occupied for charitable purposes. The financial benefits received as a result of these exemptions are all applied for the purposes of furthering the Roman Catholic faith by enabling and supporting the sisters to live out their faith and to put this into practice through a wide variety of religious and other charitable works, including the operation of a care home.

The nature of the charity’s activities means that it has been unable to reclaim VAT input tax on its costs as it is exempt for VAT purposes. The charity has paid tax as an employer through the national insurance contributions it makes.

The charity has brought substantial benefits to the residents in its care home, the local communities where sisters live, and society in general, through its newly developed grants programme, the social and pastoral work, care services, and education services provided by sisters, often on a voluntary basis. In addition, the charity has created social assets without cost to the Treasury through social and educational projects supported, the care home’s links with the wider community, and through the significant amount of voluntary work carried out by the sisters.

Future plans

• Continue the development of Apley Grange from a 41 bed care home to a 58 bed care home. This work will complete in 2027. The first phase was handed over in 2025. The second and third phases will be handed over in 2026.

• The trustees will continue to operate Apley Grange as a high care quality care home for members of the Society and private fee-paying residents, while also meeting the requirements of CQC. During 2025 and 2026 particular attention will be paid to the impact of development on residents.

• The trustees will support staff development at Apley Grange for caring for residents with a higher level of needs as the level of need is expected to increase with the expansion of the care home.

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Trustees’ report Year to 31 December 2025

• Marketing of the facilities at Apley Grange will commence to ensure take-up of the new beds once they come online.

• In light of the congregation’s diminishing numbers and the future governance needs of Apley Grange, the trustees have taken the decision to set the operations of Apley Grange up as a separate independent charity. It is anticipated that the operations will be transferred during 2026 or 2027.

• The trustees will continue to award grants to organisations that apply for funding in line with the priorities outlined in our grant making policy and to monitor the use of grants. The grant making policy will be reviewed and adapted as appropriate.

• The Trustees will support the Society Strategic Plan 2025-2030 by supporting a) Society wide initiatives agreed by the Society Extended Leadership Team which includes the provincials of the various provinces; b) the work of the Society Leadership Team and c) the development of the Society’s ministry in Africa.

• The Trustees will support a group of sisters in their promotion of action as part of our commitment to the Laudato Sì Action Platform.

• The Trustees and the Province Leadership Team will attend to the importance of prayer and ministry in the lives of the sisters and the overall mission of the Society.

• Sisters will continue to implement the enactments of the Society’s General Chapter 2022 so living the mystery of the Incarnation, God’s loving presence and action among us, in the ordinariness of everyday life and ministry.

Governance, structure and management

Governing document

The charity is a Charitable Incorporated Organisation (CIO) governed by a Constitution agreed by the trustees and registered with the Charity Commission on 14 March 2018.

Liability of the member

If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Governance

In terms of canon law, the Society is governed at international level by the Superior General and her General Council in Rome. They are elected every six years at a General Chapter, which is a meeting of elected representatives of all provinces of the Society. The European Province is governed by the Provincial Leadership Team (PLT), comprising the Province Leader and two other members, all of whom are trustees, and the membership is involved in their selection.

Society of the Holy Child Jesus CIO 21

Trustees’ report Year to 31 December 2025

In terms of civil law, the charity (which is a CIO) is governed by a constitution dated 14 March 2018 and is registered with the Charity Commission, Charity Registration Number 1177555. In addition to the members of the PLT, there are seven further trustees who also understand the work of the province and Society. The trustees work closely with the Province Leadership Team and its advisory committees. Members of the Province Leadership Team and the trustee body are chosen for their personal qualities, skills and understanding of the needs and aspirations of the Province and Society as a whole. The trustees are appointed by the Province Leader based on their knowledge of the Province and particular competencies. At any one time there must be a minimum of four trustees and a maximum of ten.

As all trustees are members of the Society they have a detailed knowledge of the charity and of its structure. On being appointed new trustees they have a period of induction when they obtain a full briefing of their responsibilities and the charity’s position. During each year, individual trustees attend seminars and training courses to keep themselves up to date with governance, finance and property issues.

All trustees are members of the Society of the Holy Child Jesus and their living and personal costs are borne by the charity. They receive no remuneration for their services as trustees.

The names of the trustees who served during the period are set out as part of the reference and administrative details on page 1 of this annual report and accounts, and brief biographical details on each of the trustees in office at the date of signing the accounts are given below.

Sister Monica Matthews

Sister Monica is the Province Leader since 1 May 2026. She has previous experience of province leadership and has been a member of the executive of the Conference of Religious in England and Wales. She served as a school governor for many years.

Sister Angela O’Connor

Sister Angela was the Province Leader until 30 April 2026. She served as province leader for six years. She has previous experience as province bursar and has also been involved in school administration and parish pastoral work.

Sister Jenny Bullen

Sister Jenny was a member of the province leadership team until 30 April 2026. She has experience as a primary school teacher and as a counsellor. She currently engages in voluntary counselling work.

Sister Helen Costigane

Sister Helen is a canon lawyer. She has lectured in Christian Ethics and Canon Law and served as Province Bursar for a number of years. Helen has experience as a trustees of a Roman Catholic diocese and has extensive experience in the area of safeguarding.

Sister Eileen Crowley

Sister Eileen was a member of the Province Leadership Team until 30 April 2026. Having completed her term on the PLT she also retired as a trustee on 30 April 2026.

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Trustees’ report Year to 31 December 2025

Sister Patricia McDonald (appointed 1 May 2026)

Sister Patricia is a member of the Province Leadership Team. She was formerly the academic programme director at the Beda College in Rome where taught New Testament. She has also taught Scripture in the United States and at Ushaw College in Durham.

Sister Judith Lancaster

Sister Judith Lancaster was a member of the province leadership team until 30 April 2026, she remains a trustee of the charity. Judith is a spiritual director and has prior experience of province leadership having previously served on a team for six years. She has been the Society Archivist and has experience in school governance.

Sister Carmel Murtagh

Sister Carmel is a member of the Province Leadership Team. She has previous experience of leadership having serviced as province leader for three years and as a team member for four years. She also served on the Society leadership team for six years. She is currently Province and Society Treasurer.

Sister Celestina Oyidu Okwori

Sister Oyidu is a member of the Society Leadership Team and a member of the Society’s International Investment Committee and the International Finance and Planning Committees. She a the member of the Society Leadership Team with particular responsibility for finance.

Sister Gifty Abane

Sister Gifty is a member of the Society Leadership Team. She has experience in province leadership in the African province and has considerable experience in school management.

Sister Anne Stewart

Sister Anne is a former teacher and community worker. She has extensive experience of working in community projects and is actively involved in parish work. She also has extensive experience in the area of safeguarding.

Trustees’ responsibilities statement

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to:

•  select suitable accounting policies and then apply them consistently;

•  observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);

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Trustees’ report Year to 31 December 2025

•  make judgements and estimates that are reasonable and prudent;

•  state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and

•  prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations and the provisions of the charity’s Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Structure and management reporting

The trustees are ultimately responsible for policies, activities and assets of the charity. As the executive committee of the trustees, the Province Leadership Team meets six times a year and the trustees meet three times a year to review developments regarding the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including property consultants, investment managers, solicitors and accountants. The day-to-day management of the charity’s activities and the implementation of policies is delegated to the appropriate members of the Society or senior staff.

The European province comprises 43 sisters who live in several communities in England and Wales, France and Ireland (the latter being supported by a separate Irish charity). In England and Wales, the sisters are located in London, the Midlands, the North of England and Wales, with the greatest number of sisters being in Apley Grange, the care home for the sisters in Harrogate. This is run by a Registered Care Manager who has many years of experience in caring for older people in a care environment. She is directly managed by an independent director who has expertise in care sector management, and who supports the senior management team. A Governance Board, comprised of the province leadership team and the province bursar and attended by the province Finance Director, the senior management of Apley Grange and the independent director is the framework of accountability between Apley Grange management and the province leadership team. The Governance Board meets three times a year.

Key management

The trustees, together with the senior management team of the care home and the Finance Director, comprise the key management of the charity who direct, control, run and operate the charity on a day-to-day basis.

All trustees are members of the Congregation and whilst their living and personal expenses are borne by the charity they receive no remuneration in connection with their duties as trustees.

Society of the Holy Child Jesus CIO 24

Trustees’ report Year to 31 December 2025

The pay of the senior management team of the care home is reviewed annually by the management committee which makes recommendations to the trustees who then consider whether or not to approve the proposals. Pay is normally increased in accordance with average earnings. In view of the nature of operations of the care home and the national shortage of qualified nurses and care staff, the trustees benchmark pay rates against pay levels in other similar charitable care homes and the National Health Service. The remuneration benchmark is based on published pay grades for nursing, care and administrative staff but considers additional responsibilities to ensure that the remuneration paid is fair and not out of line with that paid for similar roles. The pay of the finance director is agreed by the trustees and reviewed annually.

Working with other organisations

The charity works closely with a number of other charities and public bodies which work in the fields of education, provide support to vulnerable groups, and work for justice and peace.

Examples of organisations with which the charity has cooperated during the period:

•  The African and American Provinces of the Society of the Holy Child Jesus and the Generalate in Rome;

•  The Roman Catholic archdioceses of Westminster and Southwark;

•  The Roman Catholic dioceses of Arundel and Brighton, Lancaster, Leeds, Northampton and Wrexham;

•  Mayfield School, Sussex; The Priory School, Birmingham; The Cavendish School, London; St Mary’s Catholic Academy, Blackpool; Le Chéile Schools Trust (Ireland); and

•  Conferences of Religious (England, Wales and Ireland); the Association of Provincial Bursars (England and Ireland).

Risk management

The trustees recognise their responsibility for the management of risks faced by the charity and the sisters. Risk assessments have been carried out and new policies and procedures put in place. These are reviewed regularly.

The areas identified for particular attention within our risk management strategy are:

•  Governance and management

•  Operational

•  Financial

•  Reputational

•  Laws, regulations, external and environment.

Society of the Holy Child Jesus CIO 25

Trustees’ report Year to 31 December 2025

Governance and management covers the risk of the province, and hence the charity, suffering from a lack of direction, and the skills and training of its members and staff, and the good use of resources.

Operational looks at the risks inherent in activities including the operation of the care home, its members engaging in inappropriate activities, the unsuitability of buildings, poor maintenance, shortcomings in the services provided, difficulties with staff, poor health and safety.

Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, and inappropriate investment policies.

Reputational looks at possible damage to the Society’s and hence the charity’s reputation.

Laws, regulations, external and environment consider the effects of government policies, the consequences of non-compliance with laws and regulations, and poor risk assessment in the care home and elsewhere.

Having assessed the major risks the trustees believe that by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

The key risks, as identified by the trustees, are described below together with the principal ways in which they are mitigated:

1. Inappropriate investment policies.

Investment advisors are given guidance on investment strategies to be undertaken (low/medium risk and no speculative activity), with ethical investment guidelines. Performance is reviewed quarterly and on a 1/3/5 year basis. The investment committee, which includes three trustees, is aided in reviewing the performance of managers by Portfolio Review Services. Reporting is made to the trustees at their meetings.

2. Safeguarding allegations.

The charity is fully compliant with the safeguarding policies of the Roman Catholic Church in England and Wales and members receive appropriate training and updating. All active members of the Society have been DBS checked, as have all staff involved in the care of vulnerable adults and any volunteers who work with vulnerable members of the Society. The care home at Apley Grange has its own safeguarding policy and training sessions are regularly given to staff. The Society is a member of the Catholic Safeguarding Standards Agency (CSSA) to whom it is accountable and with whom it contracts services. The Society is also a member of the Religious Life Safeguarding Service (RLSS) which will provide services similar to those previously provided by the Diocese of Lancaster Safeguarding Commission. Should there be an allegation of historic abuse, the Society is very well supported.

Society of the Holy Child Jesus CIO 26

Trustees’ report Year to 31 December 2025

1. Misuse of resources.

Budgets are drawn up annually and monitored. Any large items of expenditure are fully discussed with the trustees at their meetings. Significantly large donations for the development of ministries in the growing African Province of the Society are fully documented and the Province Leader is involved in negotiations and monitoring through attendance at international meetings of the whole Society.

1. Lack of compliance with regulations.

This applies particularly to the care home, Apley Grange in Harrogate. To mitigate risk, the Governance Board, comprising of province leadership team members, the independent director and the management team, meets quarterly. It alerts the trustees to any significant issues. The home manager has in place all the required policies, risk assessments and procedures. The home is regularly inspected by the Care Quality Commission.

Employees, volunteers, and members of the Society

The trustees wish to record their recognition of the professionalism and commitment of all their staff, volunteers and the individual members of the Society. Their dedication and positive approach are very much appreciated.

Approved by the trustees and signed on their behalf by:

Sister Monica Matthews

Trustee

Approved by the trustees on: 25.06.2026

Society of the Holy Child Jesus CIO 27

Independent auditor’s report 31 December 2025

Independent auditor’s report to the trustees of the Society of the Holy Child Jesus CIO

Opinion

We have audited the accounts of the Society of the Holy Child Jesus CIO (the ‘charity’) for the year ended 31 December 2025, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

•  give a true and fair view of the state of the charity’s affairs as at 31 December 2025 and of its income and expenditure for the period then ended;

•  have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

•  have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charities ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Independent auditor’s report 31 December 2025

Other information

The other information comprises the information included in the Annual Report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

•  the information given in the trustees’ report is inconsistent in any material respect with the accounts; or

•  sufficient accounting records have not been kept; or

•  the accounts are not in agreement with the accounting records and returns; or

•  we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 23, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Society of the Holy Child Jesus CIO 29

Independent auditor’s report 31 December 2025

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

How the audit was considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•  The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

•  We identified the laws and regulations applicable to the charity through discussions with management and trustees and from our knowledge and experience of the charity sector;

•  We focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the activities of the charity. These included but were not limited to the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019), legislation and regulations specific to care homes and Safeguarding Regulations; and

•  We assessed the extent of compliance with laws and regulations identified above by making enquiries of management and representatives of the trustee and review of the minutes of trustees’ meetings.

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Independent auditor’s report 31 December 2025

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by:

•  Making enquiries of management and representatives of the trustees as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

•  Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

•  Performed analytical procedures to identify any unusual or unexpected relationships;

•  Tested and reviewed journal entries to identify unusual transactions;

•  Carried out substantive testing of expenditure including the authorisation thereof;

•  Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

•  Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

•  Agreeing financial statement disclosures to underlying supporting documentation;

•  Reading the minutes of meetings of trustees; and

•  Enquiring of as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Independent auditor’s report 31 December 2025

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 29 June 2026

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Statement of financial activities Year ended 31 December 2025

Notes		2025			2024
	Unrestricted funds £	Restricted funds £	Total funds £	Unrestricted funds £	Restricted funds £	Total funds £
Income from: Donations 1 Investments and interest receivable 2 Charitable activities . Residential care home Other sources . Miscellaneous income . Surplus on disposal of tangible fixed assets 3 Total income Expenditure on: Raising funds . Investment management costs Charitable activities . Support of members of the Society and their ministry 4 . Provision of residential care services 5 . Donations and grants in support of charitable activities 6 Total expenditure Net expenditure before gains on investments 8 Net investment gains Net income (expenditure) and net movement in funds Reconciliation of funds: Fund balances at 1 January Fund balances at 31 December	865,807 2,320,280 773,432 14,168 461,500	— — — — —	865,807 2,320,280 773,432 14,168 461,500	1,279,698 2,807,078 679,963 14,022 —	— — — — —	1,279,698 2,807,078 679,963 14,022 —
	4,435,187	—	4,435,187	4,780,761	—	4,780,761
	298,817 3,036,976 801,058 3,939,974	— — — —	298,817 3,036, 976 801,058 3,939,974	152,215 2,761,101 749,359 3,843,624	— — — 45,000	152,215 2,761,101 749,359 3,888,624
	8,076,825	—	8,076,825	7,506,299	45,000	7,551,299
	(3,641,638) 4,860,358	— —	(3,641,638) 4,860,358	(2,725,538) 6,948,967	(45,000) —	(2,770,538) 6,948,967
	1,218,720 113,821,693	— —	1,218,720 113,821,693	4,223,429 109,598,264	(45,000) 45,000	4,178,429 109,643,264
	115,040,413	—	115,040,413	113,821,693	—	113,821,693

Society of the Holy Child Jesus CIO 33

Balance sheet 31 December 2025

Notes	2025 £	2024 £
Fixed assets: Tangible assets 11 Investments 12 Current assets: Debtors 13 Cash at bank and in hand Total current assets Liabilities: Creditors: amounts falling due within one year 14 Net current assets Total net assets less current liabilities Total net assets The funds of the charity: Restricted funds 15 Unrestricted funds . Designated funds 16 . Tangible fixed assets fund 17 . General funds	15,177,373 99,441,753	10,121,993 102,718,921
	114,619,126	112,840,914
	390,022 941,753	265,171 1,278,467
	1,331,775 (910,488)	1,543,638 (562,859)
	421,287	980,779
	115,040,413	113,821,693
	115,040,413	113,821,693
	— 81,573,999 15,177,373 18,289,041	— 88,904,441 10,121,993 14,795,259
	115,040,413	113,821,693

Approved by the trustees and signed on their behalf by:

Sister Monica Matthews

Trustee

Approved on: 25.06.2026

Society of the Holy Child Jesus CIO 34

Statement of cash flows Year ended 31 December 2025

Notes	2025 £	2024 £
Cash flows from operating activities: Net cash used in operating activities A Cash flows from investing activities: Investment income and interest received Proceeds from the disposal of tangible fixed assets Purchase of tangible fixed assets Proceeds from the disposal of investments Purchase of investments Net cash (used in) provided by investing activities Change in cash and cash equivalents in the period Cash at bank and in hand at start of period Cash held by investment managers at start of period Cash and cash equivalents at 31 December B	(6,255,468)	(4,664,248)
	2,232,483 561,167 (5,012,422) 46,383,773 (46,321,795)	2,778,834 — (2,822,607) 23,125,313 (14,856,337)
	(2,156,794)	8,225,203
	(8,412,262) 1,278,467 18,243,817	3,560,955 796,073 15,165,256
	11,110,022	19,522,284

Notes to the statement of cash flows for the period to 31 December 2025.

A Reconciliation of net movement in funds to net cash used in operating activities

----- Start of picture text -----
2025 2024
£ £
Net movement in funds (as per the statement of financial
activities) 1,218,720 4,178,429
Adjustments for:
Depreciation charge 154,907 149,801
(Gains) on investments (4,860,358) (6,948,967)
Investment income and interest receivable (2,320,280) (2,807,078)
Net (gains) losses on disposal of tangible fixed assets (461,500) 1
(Increase) decrease in debtors (37,054) 875,441
Increase (decrease) in creditors 50,097 (111,875)
Net cash used in operating activities (6,255,468) (4,664,248)
----- End of picture text -----

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
	31 December 2025 £	31 December 2024 £
Cash at bank and in hand Cash held by investment managers Total cash and cash equivalents	941,753 10,168,269	1,278,467 18,243,817
	11,110,022	19,522,284

No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the charity and the above cash and cash equivalents.

Society of the Holy Child Jesus CIO 35

Principal accounting policies Year ended 31 December 2025

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 31 December 2025 with comparative information provided in respect to the year ended 31 December 2024.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) effective 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

•  determining the allocation of costs between different expenditure classifications;

•  estimating the useful economic life of tangible fixed assets for the purposes of determining the annual depreciation charge;

•  determining the value of designated funds needed at the year end, in particular in respect to the assumptions used in determining the value of the retirement fund; and

•  estimating future income and expenditure flows for the purpose of assessing going concern (see below).

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.

With regard to the next accounting period, the year ending 31 December 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the trustees’ report for more information).

Society of the Holy Child Jesus CIO 36

Principal accounting policies Year ended 31 December 2025

However, the trustees do not expect material concerns to arise over the charity’s financial position or going concern. The trustees have concluded that the charity will have sufficient resources to meet its liabilities as they fall due.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations, investment income, interest receivable, fees from the charity’s residential care home and income from other sources including the surplus on the disposal of tangible fixed assets.

Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Fees from the charity’s residential care home are recognised when receivable.

Investment income is recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Society of the Holy Child Jesus CIO 37

Principal accounting policies Year ended 31 December 2025

Income derived from the levying of charges for residential care and support services is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Fee income is recognised when the charity is entitled to receipt under the relevant contractual agreements.

A surplus on the disposal of tangible fixed assets is defined as the difference between the sale proceeds and the net book value of the asset at the time of disposal and after deducting any costs associated with the disposal. In the case of disposing of a freehold property, the surplus is recognised at the time when legal completion of the sale takes place.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

• a) The costs of raising funds comprising fees payable to the charity’s professional investment managers.

• b) Expenditure on the support of members of the Society and their ministry enables the members to carry out the charitable work of the Society in the areas of the advancement of the Roman Catholic Religion, the advancement of education and the spread of Christian values. Such expenditure comprises:

•  staff costs

•  premises expenditure

•  sisters’ living and personal expenses

•  training and spiritual renewal.

• c) Expenditure incurred in the provision of residential care services to the elderly at the Apley Grange Care Home.

• d) Grants and donations are awarded to support the works of the Society overseas and in support of education and other charitable activities consistent with the charity’s objects in the United Kingdom. Grants and donations payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the donation and has satisfied related conditions if any. Grants and donations approved but not paid for at the end of the financial year are accrued for.

Society of the Holy Child Jesus CIO 38

Principal accounting policies Year ended 31 December 2025

The majority of costs are directly attributable to specific activities. Certain costs in respect to the provision of residential care services have been allocated to expenditure categories by reference to the ratio of the number of fee paying residents to the number of residents who are members of the Society.

Governance costs comprise the costs which are directly attributable to the procedures for compliance with statutory requirements. Governance costs are allocated in full to expenditure on the support of members of the Society and their ministry.

Tangible fixed assets

•  Land and buildings

Non-specialised buildings comprise freehold and long leasehold properties and are defined as those designed as, and used wholly or mainly for, private residential accommodation. They were stated at a trustees’ valuation made, with professional assistance, in 1996 based on market value for existing use, with additions since stated at cost. As permitted by FRS 102, with effect from 1 September 2014 the 1996 values assigned to these properties are now deemed to be their cost. Such buildings are not depreciated. Their value and condition are reviewed annually by the trustees, who are satisfied that their residual value is not materially less than their book value.

All specialised land and buildings are freehold. They comprise the Society’s provincial administration centre, and care home for elderly sisters. They were stated at a trustees’ valuation made with professional assistance, in 1996 based on replacement cost for existing use. As permitted by FRS 102, with effect from 1 September 2014 the 1996 values assigned to these properties are now deemed to be their cost. Depreciation is provided at 2% per annum on a straight-line basis to write the specialised buildings off over their estimated useful economic life to the order.

The Chapel at Mayfield is not valued for the purposes of the accounts, as permitted by the Charities SORP FRS 102. It is a Grade I listed building and has been in the ownership of the sisters since 1863. The religious and historical nature of the building means that it would be difficult to obtain a meaningful valuation.

•  Furniture, equipment and plant

Expenditure on the purchase and replacement of furniture and equipment over £2,000 and motor vehicles is capitalised and depreciated over a five year period on a straight line basis. Items classified as plant are capitalised and depreciated over a ten year period on a straight line basis, in order to write the assets off over their estimated useful life.

Fixed asset investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

Society of the Holy Child Jesus CIO 39

Principal accounting policies Year ended 31 December 2025

As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value as acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Deferred annuity contracts represent annuity contracts with an insurance company to provide for individual members of the Society on their retirement. The fund is revalued annually by the trustees. Any resultant surpluses and deficits on revaluation are credited or charged to the statement of financial activities.

Funds held in the COIF deposit fund have been treated as investments as it is the intention of the trustees to hold these in the medium term.

Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Funds structure

The funds of the charity are, in the main, unrestricted and therefore available for use in furtherance of the charity’s objectives at the discretion of the trustees. Within the total unrestricted funds of the charity are funds representing tangible fixed assets and funds which the trustees have designated for specific purposes. Details of these are provided in note 16 and note 17.

Details of funds which are restricted for certain purposes are given in note 15.

Society of the Holy Child Jesus CIO 40

Principal accounting policies Year ended 31 December 2025

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

Services provided by members of the Society

For the purposes of these accounts, no monetary value has been placed on administrative and other services provided by members of the Society.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged on a straight-line basis over the term of the lease.

Pension contributions

Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity’s contributions are restricted to the contributions disclosed in note 9. There were no outstanding contributions at 31 December 2025. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Society of the Holy Child Jesus CIO 41

Notes to the accounts Year ended 31 December 2025

1 Income from: Donations

		2025			2024
	Unrestricted Funds £	Restricted Funds £	Total £	Unrestricted Funds £	Restricted Funds £	Total £
Salaries, pensions, social security and similar support of individual religious received under Gift Aid compliant deed of covenant Legacies receivable Other donations	809,415 50,620 5,772 865,807	— — — —	809,415 50,620 5,772 865,807	824,936 8,352 446,410 1,279,698	— — — —	824,936 8,352 446,410 1,279,698

2 Income from: Investments and interest receivable

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Investment income
. Listed investments –
UK 679,866 — 679,866 650,163 — 650,163
. Listed investments –
Overseas 1,162,598 — 1,162,598 1,362,581 — 1,362,581
1,842,464 — 1,842,464 2,012,744 — 2,012,744
Interest receivable
. Interest on cash held
by investment
managers 37,513 — 37,513 40,097 — 40,097
. Bank interest – UK 440,303 — 440,303 754,237 — 754,237
477,816 — 477,816 794,334 — 794,334
2,320,280 — 2,320,280 2,807,078 — 2,807,078
----- End of picture text -----

3 Income from: Surplus on disposal of tangible fixed assets

		2025			2024
	Unrestricted Funds £	Restricted Funds £	Total £	Unrestricted Funds £	Restricted Funds £	Total £
Surplus on disposal of motor vehicles Surplus on disposal of land and buildings Surplus on disposal of heritage assets	5,750 415,333 40,417 461,500	— — — —	5,750 415,333 40,417 461,500	— — — —	— — — —	— — — —

Society of the Holy Child Jesus CIO 42

Notes to the accounts Year ended 31 December 2025

4 Expenditure on: Support of members of the Society and their ministry

		2025			2024
	Unrestricted Funds £	Restricted Funds £	Total £	Unrestricted Funds £	Restricted Funds £	Total £
Staff costs Premises Sisters’ living and ministry expenses Education, training and spiritual renewal Governance costs (note 7) Other	1,571,966 607,061 689,797 31,633 97,132 39,387 3,036,976	— — — — — — —	1,571,966 607,061 689,797 31,633 97,132 39,387 3,036,976	1,432,521 631,835 562,953 28,886 60,851 41,055 2,761,101	— — — — — — —	1,432,521 631,835 562,953 28,886 60,851 41,055 2,761,101

5 Expenditure on: Provision of residential care services

		2025			2024
	Unrestricted Funds £	Restricted Funds £	Total £	Unrestricted Funds £	Restricted Funds £	Total £
Staff costs Premises Welfare and other	571,387 161,559 68,112 801,058	— — — —	571,387 161,559 68,112 801,058	517,529 163,140 68,690 749,359	— — — —	517,529 163,140 68,690 749,359

6 Expenditure on: Donations and grants in support of charitable activities

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Support of the work
of the Society
overseas
Africa 2,837,648 — 2,837,648 2,725,645 — 2,725,645
Generally through the
Society’s Generalate 111,259 — 111,259 101,957 — 101,957
2,948,907 — 2,948,907 2,827,602 — 2,827,602
General donations –
education
Christ the King & St
Cuthberts Primary
School 2,000 — 2,000 — — —
Downs Syndrome — — — — 15,000 15,000
Mowbray Community
Church 4,000 — 4,000 — — —
Reach Out Youth — — — — 15,000 15,000
South Bristol Youth — — — — 15,000 15,000
Spirituality Network 2,000 — 2,000 — — —
St Augustine Catholic
Primary School 3,000 — 3,000 — — —
St Marys Catholic
Academy 2,000 — 2,000 — — —
13,000 — 13,000 — 45,000 45,000
----- End of picture text -----

Society of the Holy Child Jesus CIO 43

Notes to the accounts Year ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
General donations –
other Institutions
All Saints Bedford — — — 2,000 — 2,000
Andante 5,000 — 5,000 5,000 — 5,000
Barrow CMF — — — 5,000 — 5,000
Blessed Edward Bamber — — — 3,500 — 3,500
Academy
British Red Cross 3,000 — 3,000 5,000 — 5,000
CAFOD 14,000 — 14,000 8,000 — 8,000
Community Pride — — — 5,000 — 5,000
CoREW — — — 250 — 250
Crisis at Christmas 2,000 — 2,000 — — —
Dementia UK 3,000 — 3,000 3,000 — 3,000
Fareshare 6,000 — 6,000 6,000 — 6,000
Harrogate Food Bank 2,000 — 2,000 — — —
Jesuit Refugee Service 2,000 — 2,000 — — —
Little Sisters of the Poor — — — 2,000 — 2,000
Medecin Sans Frontieres 4,000 — 4,000 6,000 — 6,000
Macmillan Cancer
Support 2,000 — 2,000 — — —
Mary Ward Loreto UK — — — 5,000 — 5,000
Mobray Community
Church — — — 3,500 — 3,500
St Augustines Catholic
Academy — — — 2,900 — 2,900
The Dominican Council 3,000 — 3,000 — — —
Trussell Trust 6,000 — 6,000 6,000 — 6,000
Womens Aid 2,000 — 2,000 — — —
General donations
under £1,000 14,500 — 14,500 16,650 — 16,650
68,500 — 68,500 84,800 — 84,800
General donations to
individuals 14,567 — 14,567 10,731 — 10,731
Grants
2 Minute Foundation 10,000 — 10,000 10,000 — 10,000
Abigail Housing 10,000 — 10,000 — — —
Action for Refugees
Lewisham 10,000 — 10,000 — — —
Adult Literacy — — — 10,000 — 10,000
Agnes Smith Advice
Centre — — — 20,000 — 20,000
Anti-Trafficking and
Labour Exploitation Unit 15,000 — 15,000 — — —
Asylum Aid — — — 20,000 — 20,000
Baby Basics — — — 10,000 — 10,000
Baca — — — 15,000 — 15,000
Beating Time 15,000 — 15,000 — — —
Ben’s Centre — — — 15,000 — 15,000
Better Planet Education 20,000 — 20,000 — — —
Beyond the Streets 10,000 — 10,000 — — —
Birch Network 10,000 — 10,000 — — —
Boaz Trust — — — 10,000 — 10,000
Breadwinners
Foundation 10,000 — 10,000 — — —
Bristol Hospitality
Network 10,000 — 10,000 — — —
Bristol Refugee Rights — — — 10,000 — 10,000
Carriers of Hope 15,000 — 15,000 — — —
Total carried forward 135,000 — 135,000 120,000 — 120,000
----- End of picture text -----

Society of the Holy Child Jesus CIO 44

Notes to the accounts Year ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Grants (continued)
Total brought forward 135,000 — 135,000 120,000 — 120,000
Christian Community
Care Action — — — 20,000 — 20,000
Christian Options in
Peterborough Schools 10,000 — 10,000 — — —
City of Sanctuary 10,000 — 10,000 — — —
Clean Slate 20,000 — 20,000 20,000 — 20,000
CLEAR Project — — — 15,000 — 15,000
Climate Ed 15,000 — 15,000 20,000 — 20,000
Communicare 10,000 — 10,000 10,000 — 10,000
Cotton Tree Trust 10,000 — 10,000 10,000 — 10,000
Cranfield Trust 15,000 — 15,000 20,000 — 20,000
Create Arts 10,000 — 10,000 — — —
Crosslight Advice — — — 15,000 — 15,000
Disability First — — — 10,000 — 10,000
Derby City Mission 10,000 — 10,000 — — —
Downs Syndrome
Cheshire 10,000 — 10,000 — — —
EcoBirmingham — — — 10,000 — 10,000
Educate not Mutilate 15,000 — 15,000 — — —
Ella’s Home 15,000 — 15,000 — — —
English For All 10,000 — 10,000 15,000 — 15,000
Fairbeats — — — 10,000 — 10,000
Faith Christian Group 10,000 — 10,000 — — —
Feeding Families 10,000 — 10,000 — — —
Fine Cell Work — — — 14,500 — 14,500
Flourish NI — — — 10,000 — 10,000
Freedom Community
Alliance — — — 10,000 — 10,000
Global Arrk — — — 8,130 — 8,130
Growing Together
Levenshulme 10,000 — 10,000 10,000 — 10,000
HealthProm 15,000 — 15,000 — — —
Himmah 10,000 — 10,000 15,000 — 15,000
Home 4 U Cardiff 15,000 — 15,000 — — —
Home Start Banbury &
Chippenham 10,000 — 10,000 — — —
Home Start Northampton 15,000 — 15,000 — — —
Honour Thy Woman — — — 6,060 — 6,060
Hope at Home 10,000 — 10,000 — — —
Hope Nottingham — — — 15,000 — 15,000
Housing Matters — — — 15,000 — 15,000
Islington Centre for
Refugees — — — 15,000 — 15,000
JUSTICE 15,000 — 15,000 — — —
Just Ice 15,000 — 15,000 — — —
Kalayaan Fund 15,000 — 15,000 — — —
Kent Refugee Help — — — 15,000 — 15,000
Literacy Pirates 10,000 — 10,000 15,000 — 15,000
Local Welcome CIO — — — 15,000 — 15,000
Migrant Destitution Fund — — — 10,000 — 10,000
Mums in Need — — — 15,000 — 15,000
Mustard Tree Foundation 10,000 — 10,000 10,000 — 10,000
My Sister’s House CIO — — — 15,000 — 15,000
Total carried forward 465,000 — 465,000 508,690 — 508,690
----- End of picture text -----

Society of the Holy Child Jesus CIO 45

Notes to the accounts Year ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Grants (continued)
Total brought forward 465,000 — 465,000 508,690 — 508,690
MYTIME Young Carers — — — 15,000 — 15,000
Nehemiah Project 10,000 — 10,000 — — —
Notre Dame Refugee
Centre — — — 15,000 — 15,000
Oarsome Chance 10,000 — 10,000 — — —
Ocean Generation — — — 10,000 — 10,000
Oikos Brigg 15,000 — 15,000 — — —
One Eighty — — — 15,000 — 15,000
Operation Noah — — — 15,000 — 15,000
Parent Club — — — 10,000 — 10,000
Prama Life — — — 10,000 — 10,000
Priors Park — — — 10,000 — 10,000
Neighbourhood Project
Prisoner Education Trust — — — 15,000 — 15,000
Project MAMA — — — 15,000 — 15,000
Reach Out Youth 10,000 — 10,000 — — —
Rebuild 20,000 — 20,000 — — —
Refugee Resource 10,000 — 10,000 — — —
Refugee Roots 15,000 — 15,000 — — —
Refugee Support Group 10,000 — 10,000 — — —
Regenerate 15,000 — 15,000 — — —
Rekindle — — — 10,000 — 10,000
Romodels 20,000 — 20,000 — — —
SAFE Foundation 10,000 — 10,000 — — —
Scotswood Natural
Community Garden 15,000 — 15,000 — — —
SENFSG — — — 5,500 — 5,500
Separated Child 10,000 — 10,000 — — —
Settle — — — 10,000 — 10,000
Sexual Abuse Rape
Advice Centre 10,000 — 10,000 — — —
Sixty One — — — 15,000 — 15,000
Snowdrop Project — — — 15,000 — 15,000
South Shore Community
Project — — — 13,060 — 13,060
Southampton City
Mission 15,000 — 15,000 — — —
St Anne’s Allotments 15,000 — 15,000 — — —
St Chad’s Sanctuary 15,000 — 15,000 — — —
St George’s Youth Club — — — 15,000 — 15,000
St Joseph’s Hospice — — — 20,000 — 20,000
St Luke’s Advice Centre 10,000 — 10,000 17,500 — 17,500
St Monica’s Housing 10,000 — 10,000 — — —
Starling Collective 15,000 — 15,000 — — —
Stories of Hope and — —
Home 15,000 15,000 — —
Strength and Stem 15,000 — 15,000 15,000 — 15,000
Stroud Valley Project 10,000 — 10,000 — — —
Sufra — — — 7,500 — 7,500
The Archer Project 15,000 — 15,000 — — —
The Cart Shed 10,000 — 10,000 — — —
The Moses Project 10,000 — 10,000 — — —
The Porch 10,000 — 10,000 — — —
Total carried forward 810,000 — 810,000 782,250 — 782,250
----- End of picture text -----

Society of the Holy Child Jesus CIO 46

Notes to the accounts Year ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Grants (continued)
Total brought forward 810,000 — 810,000 782,250 — 782,250
The Recruitment — —
Junction — — 20,000 20,000
Torch Help Hub 10,000 — 10,000 — — —
Via Wings — — — 10,000 — 10,000
VIDA — — — 21,361 — 21,361
Vineyard Community
Centre — — — 15,000 — 15,000
Voices for Life 10,000 — 10,000 — — —
Voices of Hope — — — 10,000 — 10,000
Wanstead and Woodford
Migrant Support 10,000 — 10,000 — — —
Warm Hut 15,000 — 15,000 — — —
Wilderness Foundation 20,000 — 20,000 — — —
Woman’s Trust — — — 10,000 — 10,000
You Can Flourish 10,000 — 10,000 10,000 — 10,000
Young Minds Matter — — — 16,880 — 16,880
Young People’s Trust for
the Environment — — — 25,000 — 25,000
Zink 10,000 — 10,000 — — —
895,000 — 895,000 920,491 — 920,491
Total donations and
grants 3,939,974 — 3,939,974 3,843,624 45,000 3,888,624
----- End of picture text -----

7 Governance costs

		2025			2024
	Unrestricted Funds £	Restricted Funds £	Total £	Unrestricted Funds £	Restricted Funds £	Total £
Legal and professional fees	97,132	—	97,132	60,851	—	60,851

8 Net expenditure for the period before gains on investments

This is stated after charging:

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2025 2024
£ £
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	£	£
Staff costs (note 9)	2,143,352	1,950,050
Auditor’s remuneration (including VAT)
. Audit services – current year	35,000	37,800
. Audit services – prior year	1,800	6,800
. Non audit services: payroll and other consultancy	12,386	13,168
Depreciation (note 11)	154,907	149,801
Operating lease charges	82,102	73,195

Society of the Holy Child Jesus CIO 47

Notes to the accounts Year ended 31 December 2025

9 Staff costs, remuneration of key management personnel and trustees’ remuneration

	2025 £	2024 £
Staff costs during the period were as follows: Wages and salaries Social security costs Pension costs	1,908,661 198,553 36,138 2,143,352	1,766,512 150,304 33,234 1,950,050

The average number of employees during the period (including part time staff):

	2025 £	2024 £
Support of Members of the Society and their ministry, the operation of residential care home and grant making	97	97

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000, was:

	2025 No.	2024 No.
£60,000 - £70,000 £70,000 - £80,000 £80,000 - £90,000	3 — 1	1 — 1

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the trustees, the finance director and the home manager of the charity’s care home. The total remuneration (including taxable benefits and employer’s pension contributions) of the key management personnel for the year to 31 December 2025 was £177,597 (2024: £167,252).

The charity’s trustees are all members of the Society and consequently their living and personal expenses, all of which are consistent with the amounts paid in respect to other members of the Society, are borne by the charity. No trustee received any remuneration or reimbursement of expenses in connection with their duties as trustees (2024: none).

As members of the Society, none of the trustees have resources of their own as all earnings, pensions and other income have been donated to the charity under a Gift Aid compliant Deed of Covenant. During the year, the total amount donated by the trustees to the charity was £120,496 (2024: £111,024).

10 Taxation

The Society of the Holy Child Jesus CIO is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Society of the Holy Child Jesus CIO 48

Notes to the accounts Year ended 31 December 2025

11 Tangible fixed assets

	**Land and buildings **	**Land and buildings **	**Land and buildings **	Furniture, equipment and plant £	Motor vehicles £	Total £
	Non- specialised £	Specialised £	Assets under construction £
Cost of valuation At 1 January 2025 Additions Disposals and eliminations At 31 December 2025 At cost At deemed cost Depreciation At 1 January 2025 Charge for year On disposals and eliminations At 31 December 2025 Net book values At 31 December 2025	3,817,557 — —	5,084,592 — (200,000)	2,779,484 5,252,755 —	1,699,302 40,359 —	152,205 16,840 (9,259)	13,533,140 5,309,954 (209,259)
	3,817,557	4,884,592	8,032,239	1,739,661	159,786	18,633,835
	3,817,557 —	3,876,592 1,008,000	8,032,239 —	1,739,661 —	159,786 —	17,625,835 1,008,000
	3,817,557	4,884,592	8,032,239	1,739,661	159,786	18,633,835
	— — —	1,704,616 93,921 (100,333)	— — —	1,599,668 43,381 —	106,863 17,605 (9,259)	3,411,147 154,907 (109,592)
	—	1,698,204	—	1,643,049	115,209	3,456,462
	3,817,557	3,186,388	8,032,239	96,612	44,577	15,177,373
At 31 December 2024	3,817,557	3,379,976	2,779,484	99,634	45,342	10,121,993

All specialised land and buildings are freehold. Non specialised land and buildings comprise freehold and long leasehold properties. The Sacristy at Mayfield Chapel included in specialised land and buildings is held on a 999-year lease, and has a net book value of £nil.

Under previous Generally Accepted Accounting Practice, freehold land and buildings purchased prior to 1996 were held at a book value based on a trustees’ valuation made in 1996 based on replacement cost for existing use. As permitted under the transitional provisions of FRS 102 (section 35), the charity has elected to use these valuations as deemed cost. The remaining properties and other tangible fixed assets are held at cost less accumulated depreciation where applicable.

It is likely that there are material differences between the open market values of the charity’s land and buildings and their book values. These arise from the specialised nature of some properties and the effects of inflation. The amount of such differences cannot be ascertained without incurring significant costs, which, in the opinion of trustees, is not justified in terms of the benefit to the users of the accounts.

Certain of the freehold land and buildings are subject to restrictive covenants in relation to their future disposal.

The charity has title to a number of unique religious artefacts including statues and paintings which form part of the heritage of the Society and which the charity intends to preserve for future generations of Sisters. One of the principal objectives of the charity is “ to support the religious and other charitable works carried on by the Society and its members ”. As such, the assets meet the definition of heritage assets in the Charities SORP

Society of the Holy Child Jesus CIO 49

Notes to the accounts Year ended 31 December 2025

FRS 102 and are not valued for the purposes of these financial statements. Details of specific items are not given for security reasons.

12 Investments

----- Start of picture text -----
2025 2024
£ £
Listed investments 92,235,095 89,724,442
Unlisted investments
. COIF deposit fund 7,206,658 12,994,479
99,441,753 102,718,921
2025 2024
Listed investments £ £
Fair (market) value at 1 January 2025 84,475,104 85,795,113
Additions 46,321,795 14,856,337
Disposals (proceeds: £46,383,773; realised gains: £254,540) (47,053,839) (22,617,355)
Net unrealised investment gains 4,605,818 6,441,009
Fair (market) value at 31 December 2025 89,273,484 84,475,104
Cash held by investment managers for reinvestment 2,961,611 5,249,338
92,235,095 89,724,442
Cost of listed investments at 31 December 2025 77,407,469 72,974,803
----- End of picture text -----

Listed investments (excluding cash held by investment managers for re-investment) held at 31 December 2025 comprised the following:

Listed investments	2025 £	2024 £
Listed investments – UK Listed investments – Overseas	37,282,684 51,990,800 89,273,484	27,287,399 57,187,705 84,475,104

The following holding represented a material holding when compared to the total portfolio valuation at 31 December 2025:

	Market value £	Percentage of portfolio %
Sarasin Climate active endowments fund class A income	30,022,064	33.63

All listed investments were dealt in on a recognised stock exchange.

13 Debtors

Debtors
	2025 £	2024 £
Investment income and income tax recoverable Care home fees receivable Other debtors Prepayments	228,254 60,191 3,865 97,712 390,022	140,457 47,930 863 75,921 265,171

Society of the Holy Child Jesus CIO 50

Notes to the accounts Year ended 31 December 2025

14 Creditors

Creditors
	2025 £ 259,142 5,183 646,163 910,488	2024 £
Amounts falling due within one year Monies administered by the charity on behalf of individual members of the Society Care home fees received in advance Accruals and expense creditors		259,394 5,338 298,127 562,859

At 31 December 2025 there were no grant creditors but the charity had committed to fund further donations totalling £nil (2024: £286,280) which are payable on the satisfaction of certain conditions.

15 Restricted funds

The funds of the charity include restricted funds comprising the following amounts to be applied for specific purposes:

	At 1 January 2025 £	Income £	Expenditure £	Gains £	At 31 December 2025 £ — — At 31 December 2024 £ — —
Cornelia Connelly Fund	— — At 1 January 2024 £	— — Income £	— — Expenditure £	— — Gains £
Cornelia Connelly Fund	45,000 45,000	— —	(45,000) (45,000)	— —

The Cornelia Connelly Fund was previously a separate charity, administered by the same trustees as the Society of the Holy Child Jesus Charitable Trust. During 1998 permission was sought and given by the Charity Commissioners under Section 96(6) of the Charities Act 2011 for the accounts of the two charities to be combined, on the condition that the Cornelia Connelly Fund remain as a separate fund within the accounts of the main charity, restricted to the charitable purposes set out in the original trust deed of the Cornelia Connelly Fund, being ‘such educational charitable purposes as advance the educational charitable work for the time being carried on in any part of the world by or under the direction or with the support of the European Province’.

Society of the Holy Child Jesus CIO 51

Notes to the accounts Year ended 31 December 2025

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

----- Start of picture text -----
At At
1 January New Utilised / 31 December
2025 designations released 2025
£ £ £ £
Society Strategic Plan fund
. Retirement fund for support of the
African Province 8,761,037 — (8,761,037) —
—
. Support of goals 1,592,578 (1,398,585) 193,993
—
. Society plan 2025-30 6,788,673 (3,106,557) 3,682,116
Property development and
refurbishment fund 14,956,841 4,090,866 (5,252,755) 13,794,952
— —
Establishment of Apley Grange CIO 5,000,000 5,000,000
Grants reserve 30,000,000 183,745 — 30,183,745
Retirement reserve 26,805,312 1,913,881 — 28,719,193
88,904,441 11,188,492 (18,518,934) 81,573,999
At At
1 January New Utilised / 31 December
2024 designations released 2024
£ £ £ £
Society Strategic Plan fund
. Retirement fund for support of the
African Province 9,922,628 827,446 (1,989,037) 8,761,037
—
. Support of goals 2,317,510 (724,932) 1,592,578
— —
. Society plan 2025-30 6,788,673 6,788,673
Property development and
refurbishment fund 14,785,745 2,000,000 (1,828,904) 14,956,841
Grants reserve 30,095,857 824,634 (920,491) 30,000,000
Retirement reserve 28,344,764 — (1,539,452) 26,805,312
85,466,504 10,440,753 (7,002,816) 88,904,441
----- End of picture text -----

The Society Strategic Plan fund represents monies designated by the trustees to support the international work of the Congregation, including the implementation of Society-wide strategic plans. The funding of the Retirement fund for the support of the African Province has been met by other entities of the wider Congregation and therefore this fund has been released.

The fund now has two elements: The ‘Support of Goals’, and ‘Society plan 2025-30’. It is the intention that these funds continue to be held until they are required by the wider Congregation. Sisters and projects of the Society overseas will be able to apply for monies from the funds, but these will be paid out only after successful due diligence and, thereafter, the use of the monies will be monitored closely by the trustees. The trustees will review the Society Strategic Plan fund and the charity’s financial position on a year by year basis.

The property development and refurbishment fund represents monies designated by the trustees to build and refurbish a number of the charity’s freehold premises. On 16 September 2024 the Society entered into a contract to develop and refurbish the property known as Apley Grange over 2.5 years for £13,592,420 exclusive of VAT.

Society of the Holy Child Jesus CIO 52

Notes to the accounts Year ended 31 December 2025

Establishment of Apley Grange CIO: In light of the congregation’s diminishing numbers and the future governance needs of Apley Grange, the trustees have taken the decision to set the operations of Apley Grange up as a separate independent charity. It is anticipated that the operations will be transferred during 2026 or 2027. This fund represents the anticipated funds that will be transferred to the new entity.

The grants reserve represents monies designated by the trustees for the charity’s grant making programme.

The retirement reserve represents monies designated by the trustees to provide for the sisters in their retirement. It has been calculated using actuarial principles and is reviewed regularly by the trustees in the light of the resources available and likely to be required.

17 Tangible fixed assets fund

The tangible fixed asset fund represents the net book value of the charity’s tangible fixed assets. A decision was made to separate this fund from the general fund in recognition of the fact that the tangible fixed assets are used in the day-to-day activities of the charity, and the fund value would not be easily realisable if needed to meet future contingencies.

----- Start of picture text -----
2025
£
At 1 January 2025 10,121,993
Net movement in the year 5,055,380
At 31 December 2025 15,177,373
2025
£
At 1 January 2024 7,449,188
Net movement in the year 2,672,805
At 31 December 2024 10,121,993
----- End of picture text -----

18 Analysis of net assets between funds

	General funds £	Designated funds £	Restricted funds £	Total 2025 £
Fund balances at 31 December 2025 are represented by: Tangible fixed assets Investments Net current assets Total net assets	— 17,867,754 421,287 18,289,041	15,177,373 81,573,999 — 96,751,372	— — — —	15,177,373 99,441,753 421,287 115,040,413

Society of the Holy Child Jesus CIO 53

Notes to the accounts Year ended 31 December 2025

	General funds £	Designated funds £	Restricted funds £	Total 2025 £
Fund balances at 31 December 2024 are represented by: Tangible fixed assets Investments Net current assets Total net assets	— 13,814,480 980,779 14,795,259	10,121,993 88,904,441 — 99,026,434	— — — —	10,121,993 102,718,921 980,779 113,821,693

The total unrealised gains on listed investments as at 31 December 2025 constitute movements on revaluation and are as follows:

----- Start of picture text -----
2025 2024
£ £
Unrealised gains included above:
On investments 11,866,015 11,500,301
Total unrealised gains at 31 December 2025 11,865,015 11,500,301
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January 2025 11,500,301 6,595,677
In respect to disposals in the period (4,240,104) (1,536,385)
7,260,197 5,059,292
Add: net gains arising on revaluation arising in the period 4,605,818 6,441,009
Total unrealised gains at 31 December 2025 11,866,015 11,500,301
----- End of picture text -----

19 Operating lease commitments

At 31 December 2025, the charity had future minimum commitments in respect to noncancellable operating leases as follows:

----- Start of picture text -----
2025 2024
£ £
Land and buildings
Payments which fall due:
. Within one year 20,700 10,575
— —
. Within two to five years
20,700 10,575
2025 2024
£ £
Equipment
Payments which fall due:
. Within one year 61,402 62,620
. Within two to five years 168,206 179,093
. Over five years 67,806 104,641
297,414 346,354
----- End of picture text -----

Society of the Holy Child Jesus CIO 54

Notes to the accounts Year ended 31 December 2025

20 Capital commitments

Capital commitments
	2025 £	2024 £
Authorised by the trustees and contracted for	10,979,093	15,437,594

21 Ultimate control and liability of member

The Province Leader of the Congregation for the time being shall automatically, by virtue of holding that office, be ex officio the sole member of the CIO. The sole member is responsible for the appointment of the trustees.

If the CIO is wound up, the member of the CIO has no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

22 Connected charity and related party transactions

Amounts donated to the charity during the year by the trustees are disclosed in note 9.

There are no further related party transactions requiring disclosure (2024: none).

23 Post balance sheet events

Since the year end, on the 19 May 2026, Apley Grange CIO was successfully registered with the Charity Commission.

Society of the Holy Child Jesus CIO 55