2024-12-31-accounts

The Society of Mary (Marist Fathers) cio Annual Report and Accounts 31 December 2024 Charfty Wl8tralon Nlmber 117W85

Contsnts Report8 Reference and administrative detalls of Ihe charity, ils trustees and advis8rs Trustees, report Independent auditorfs report 18 A￿)￿nIS Statement of financial acllvilies 22 8alance 8h8el 23 Statement of cash flows 24 Prlncipal accounllng policies Notes to the accounts 25 31 Society of Mary (Marist Fathers) CIO

Referen¢e and adminl$trative details of the Charity, its trustees and advisers Trust￿9 Rev Peter Corcoran Rev Kevin Duffy Rev Desmond Hanrahan Rev Ivan Vodopivec Rev Aan Willlams Rev Martin McAnaney Natlonal Admini¥trator Rev Ivan Vodopivec Charlty Correspondent and Chlef Flnance Offlcer Mrs Mafgaret Stevenson [e-mail] Administration offlce Newman House 729 Beverley Road Hull HU6 7ER Telephong 01482 801360 Charity registration number 1179085 Audttor Buzzacott Audit LLP 130 Wood Street London EC2V 60L Prfnclpal bankers HSBC Bank pl¢ 69 Pall Mall London SW1Y SEY Investment managor¥ Quilter Cheviot Limited Senator House 85 Queen Victoria Street London EC4V 4AB The So¢iety of Mary (Marist Fathers) CIO 1

R•feren¢o and administrative details of the ¢harity. its truste08 and advisers Sollcltors Stone Klng LLP Upper Borough Court Upper Borough Walls Bath BA1 1RG The Socièty of Mary (Marist Fath8rs) CIO 2

Trustees, roport 310ecember 2024 The trustees present Ihelr annual statutory report together wllh the accounts of The Society of Mary (Marist Falhersl CIO Ithe'charity } for the year to 31 December 2024. The accounts have been prepared in accordance wilh the accounting policies set oul on pages 25 10 30 and comply with the Charily's constitution, applicable laws and the rèquirements of Accounting and Reporting by Charities.. Statement of Recommendèd Practice applicable lo charllies preparing their aGcounls in accordance w￿h the Financial Reportlng Standard applicable in the United Kingdom and RepU￿￿C of Ireland IFRS 1021. Introduction The Society of Mary (Marlst Fathers) Ithe"SocK8IW) is an international male Roman Catholic religious group, founded in France in 1816 by Jean Claude Colin. Worldwde, the Society comprises of love province8 IEurope, USA, New Zealand, Oceania and Canada} and slx districts IAfrica, Asla, Australia, Brazil, Mexico and South America) In which there are 563 (585 as at 31 Decernbgr 2023) members worldwide worklng In mor8 Éhan 20 countries. The Mother House is in Rome. The Charity In England ha5 14 members, of which 12 are ordained ministers and two are brothers. who all belong to the Provlnce of Europe. Seven fornier provinGes (Italy, Ireland, France. Germany. England. the Netherlands l Norway, and Spain) amalgamated on 1 June 2¢X)8 to form one Provlnce of Europe. The administrative bas8 for the constiluled province is in Paris and the person with overall responsiblllly Is Rev Kevln Duffy al 104 Rue de VaugiraTd, 75006. Paris. Of the 14 members In England, four member5 are currently assigned abroad, in France, Ireland and in Russia. Two of our members are bishops.. The Bishop for the Diocese of Brenlwood in Essex, East London and until his retirement, the Bishop Emeritus of Menevia. who now resid85 in a parish in New￿. Wales. Currently. another five members pf the SoGiety are working In England and based In London and Hull. Of these. two members are from France, one from Ireland, and two from Africa. We also have a Dutch member of the Society slaying in England, qui8tly 8njoying his retirement in a retirement home. The Charity In England Is governed in day-to-day matters by its own democratlcally agreed and approved con5tilutlon. The natlonal ￿giOnS as separate adminislralive unlls ceased lo exlsl on 30 June 2016. The Charlly in England made amendments lo rts trii8t deed In 2016 lo permit and promote Cc operation wthin the Provlnce of Europe and beyond and the tnjstees sought legal advice before agreelng to this development in govemmental structure. In 2018, the trustees of The Soclety of Mary {Marist Fathers) Charitable Trust {previously carrying Registered Charity Number 2354121 applied to the Charity Commission for approval lo convert the Charitable Trust's legal structure into a Charitable Incorporated Organlsation I'CIO'I. Permission was granted and The Society of Mary (Marisl Falhersl CIO wa5 entered on the Register of Charitles on S July 2018 with Registered ChaTlly Number 1179085. With effect from mldnight on 31 Dec8mber 2018, in accordance with 8 legal transfer of undertaklngs arnl a resolution of the tru51e85, the activities, assets and liabilities of the Charitable Trust were transferred as a going concern into the n￿Y fonned Charitable Incorporated Organisalion {CIO), The Society of Mary (Marist Falhers) CIO. The Society of Mary (Marist Fathers) CIO 3

Trusto08' roport 31 December 2024 Introductlon (continued) Th8 accounts accompanying thi$ report are the accounts of The Society of Mary (Marist Fathers) CIO through which the assets of the Charity in England are adminlstered and through which its finances operate. The Charity is governed by a constitution dated 5 July 2018 and is registered under the Charllles Act 2011. The income and expenditure reported in this annual report represent the aclivilles for the year erTrded 31 December 2024 wlth comparative information provided for the year ended 31 December 2023. Principal aims and actlvltles The general aim of the Charity is the advancement of the Roman Catholic religion and to support the charitable works carrled on by the members of the Soclely living in England and Overseas. The objects are fulfilled through supporting parish-based ministrles, the provision of spiritual guidan￿. educational supporL missionary work and providing grant making funds for specrfi¢ UK projects and Overseas missionary projects. The emergence of the Province of Europe as an adminislratlve entf(y has resulted in an increase of members from the Society assigned to work in England from other units of the Province. The members of the Charity In England also participate in transfers Inormally temporary) lo other European unils., currently there a￿ four English members on assignmenl to France, Ireland and Russla. Prior lo July 2018, memb8rs of the Charity administered in parishes in England (Hull and Walsinghaml under the direcllon of the local bishops. However, in July 2018, due lo the diminishmenl in member numbers, the ProvirKe decided lo wllhdraw from the parish in Hull. On leaving the Hull parish. the Charity grfled the title deeds for the parish property lo the Diocese of Middlesbrough to continue with their religious works. Members of the Charity continue to make themselves available for supply work in the district of Hull lo facilitate local clergy leave accor(Jlng to needs and the avall8billly of resources. Members of the Charity continue lo administer in the parish of Walsingham of which there are four churches, although security and safely plaee 2 few restricllons on use. Parishioners and others keep the churches njn by the members open for use on a daily basis. The shrine in Walsingham receives regular and frequent attendance by pllgr+ms of all nationallties and faiths. Four of the members of the Society second8d lo England are based in London and form the Nolre Dame de Fran￿ Community l NDF communiv). The ministry of the NDF community focuses on four elements - Pastoral services, chaplalncy and preparation for sacraments.. Evangelisation outreach in the local environment., Support for the activities of Nolre Dame Refugee Centre,. and to provlde a Saturday Sandwich Service, and oulrea¢h lo the homeless in the West End of London. All income received by members of the Charity, from whatever source Is Grft Aided (and covenanted) into the Charity. The Charity remains responsi1￿e for the maintenance and support of all of ils members in England as they go about their varied activities. Many member$ ¢onlinue to actively support and promote the mission of the Charity. often well into their lat8 seventies and beyond. The Society of Mary (Marist Fathers) CIO 4

Trustees. report 31 December 2024 PrlnGSpal alm8 and actlvltle¥ lconlinued) As members of the Charity, Ihe religious members remaln entirely dependent upon the Charlty lo provide and support them durlng their reliremenl. through lo the end of their natural lives. The Charity continues Its commitment lo all ils membBrs, especSally and increasSngly lo Ihose who are impaired through ag8 andlor111 health. In DeGemb8r 2024, legal arrangemenls were finalised with the Dlocese of Middlesbrough for th8 charitable transfer of the ownership of the land and buSldings held by the Charity and used by Trlnhy Catholic College & Sixth Form in Middlesbrough and St Edwayd's Primary School In Middlesbrough (both of which are members of the Nicholas Po3lgale Catholic Academy Truytl., this will enable educallon81 support to be overseen by the Diocese of Mlddlesbrough in future. The net sale proceeds from the disposal of St Mary's College in Blackburn in October 2022 are currently being used for granl-making purposes in the UK and overseas. The Charity recognises and promotes th8 value5 and importance of offering splritual guidan¢e and pastoral athiice lo people of all ages, irrespective of their socl81, politi¢al or religious background. This work is offered through face-ltrface consultallon, retreats, and chaplaincy Work. The members in England continue to make use of video Conferencing technology as it has proved such an effecllve communication tool in ¢onneGting with people from all walks of life since the pandemic. Four members of the Charty conlinug lo provide ongoing support to the international work of tt)e Society wth secondmenls in France, Ireland and Russia. One assigned memb8r lo England has responsibllity for raising fvnds for the oveTseas missionary aspect of the Charity's work. The funds raised for this purpose are technically termed "restrlcled. Each year al the Calholio Bishops, Conference for England & Wales an area of England or Wales Is designated to allow for funding appeals which normally occurs during Sunday church services. Full use is made of the GiftAid scheme for donations received from these funding appeals. Increasingly, more of the Charitls financial resources are assigned to provlde for the co$t$ of members in their retirement after a lrfe of actlve mlnlstry, and lo Support those members with Ilfe-long care needs. The Charlty also supports Ihe internallonal work of the Society through the provision of donations to the Generalale in Rome and to the Province of Europe. In compliance ￿th the S(Kiety's established pollcy, the trustees have agreed lo contribute 100A of their annual operating surplus from the Charity for the promotion of formallon and training of new priests of the Society, and to contribute 20Vo of Ihe net sa18s proceeds (after accounting for professional fees and management costs) from the disposal of properties lo facilitate the work of the Soclety worldwide. PubllG benefit The trustees havg carefully considered the Charlty Commisslon'8 guldance on publlc benefit. in line with their conslitulion, when satting annual objectives. planning the ¢harilable work to be undertaken for the year and wh8n encouraging the work of individual members. The Society of Mary (Marist Fathers) CIO 5

Trustees. report 31 December 2024 PubliG Bgnefit (conlinuedl The members of the Charity operate within, work with and are deeply involved in the local communities surrounding the locations of their residential properties. The Charity enables members to give their services freely lo promote the Charity's objects. Details are given above under the heading 'Prlncipal aims and activities" The Charity also supports the Inlernallonal work of the Soclely, with four of ils members from England currently ministering oversea5', financial asslstance is provided through the General Adminlslration in Rome in support of this work. Annual donations are used to promote the Society's work Ghidy in Oceania, the Philippines and Africa. This promotion is funded largely through appeals in parishes in various parts of England and Wales as permilled by the Roman Catholic bishops. Further assistance when needed. is provided by occasional legacies and donations made from the Pilgrimage Fund Reserve. Achlevemènts and performance The Charlty has experienced small changes lo its ministry during 2024. A member of the Charity has taken on the role of link repie5entalive engaged in the exlensk)n of the Charity's work involving lay people in fostering possible future work of the Society among the laity. The sale of the Blackbum community residenllal properly (Ihal was), is ongoing and expected lo be completed in Ihe Spring of 2025. Presently, there are 10 members of the Charity resident in England, all of whom provide drfferent aspects of minlsty and service in the community, in tune with the spirit and aims of Ihe Society and their advanclng years. The Charity continues lo have one member working as a parish priest in the parish of Walsingham, whllst another fulfil8 hls role as Bishop for the Di0￿Se of Brenhvocwj. One asstgned member of the Society promotes fundraising efforts for overseas missionary work through making appeals in parish churches in various parts of England and Wales as permitted by the Roman Catholic bishops. Some of the further services and aclivilies carried out by members of the Charity during 2024 ar6.. • Producing personal refiections and poems distributed digitally lo around 150 people each month. + Involvement wth a respected, multilingual academicjournal, the Ephemfrn'des Liturglca8. + Mainlainlng a web of ecumenical contacts in Hull, Beverley and Wells-nexl-the Sea in Norfolk. Undertaking supply work in local parishes in Hull (1 member). The Society of Mary (Marlst Fathers) CIO 6

Trusteos, report 31 December 2024 Achlevements and performance (continued) • Volunteering al the local refugee cenlrg in Hull, providlng hospitality, signposting and support lo dlsadvanlaged individuals and families in the neighbourhood11 member). • Partlcipating as a priest onllne in an internats'onal Catholic organisalion for grandpa￿￿t5. Serying as trustees on the l)oard of tsvo faith-based CIOS: 8 refugee centre and an internatlonal French francophone parish in London. One member serves as the Provlncial Superior of the Province of Europe based In Paris. One member acts as the link person to Marist Way Laity. Three members allend an Interf811h group aiming to improve and develop relalion8hips with the local communty. Members attended a three-day Assembly in April were presentations on resource management, ¢hur¢h reform 8fKI safeguardlng aspects look place. UK based members have allended safeguarding workshops using the tralning facililles offered by the Religious Life Safeguarding Service ("RLSS"I. * NDF community members accompanied 54 couples in the preparallon for mathage. 6 adults and 4 teenagers completed the programme for ellher baptism or ￿nfIrMatIoN and collectively the Marist team supported two lay coordinators to deliver Cha￿aincY activities for 580 registered children. * NDF community members supported the outreath work of the Notre Dame Refugee Centre and took parl in evenls organised by NDFC volunle8r8. whh Servi¢es to the Homeless and provlded a programme of events for the Evangellsation outreach to the West End In London. Oversea¥. one member continues lo manage the misslon in Moscow within an International parish in the Russian capital. The principal languages used are Russian, English, FrenGh and Tagalog. Until r￿ently, another member was involved in work wSth the pilgrimage mission in Sahagun, Spaln on the Camino de Santiago trail, providing spiritual support and 8 lislenlng ear lo those on a personal journey. Al December 2024, the trustees still retained responsibility for one parish in Walsingham, in the Dlocese of East Anglla under the direction of the local bishop. Three memter8 of the Charity continue to work in the four churches, which encompass the Walsingham parish, with members continuing lo help out at the National Marlan Shrine in Walsingham, although this responsibility passed lo the Hierarchy in England & Wales in December 2014. During 2024, a number of signrficant intemational and domèstic events have infiuence(I the value of the Charity's two investment portfolios. Overall, the two investment portfolios have made an annual return of 7.1 /0 in 202412023 20/01. whilst servicing £533,056 of income withdrawals for operational expenses. donations and granl-making purposes and ended 2024 with a total investment value slightly hlgher than at th8 start of the year. The Society of Mary (Marist Fathers) CIO 7

Trustees, report 31 December 2024 Achlevements and performance (conlinuedl Inevitably, with 950/0 of the members in the Charity now beyond historic retlrement age, concomitant health delerioralions are leading lo adjustments in the aposlolal8. The Charity malntsins its support for the international work of the Society, with four members currently worklng overseas and donations are made to the Generalate In support of this work. The substantl81 le9acy recewed from a longstsnding parishioner in 2020 expired during the year when il provlded funding support for one addilitsnal overseas missionary project, to benefit the needy, poor and disadvantaged. During 2024 the following overseas granl-making projects received funding.. The provision of circa. £14.250 (616,620) funding to assist with the costs of ¢ompleling multi-purpose church building in Digos, Philippines. + The provisDn of circa. £41,650 {f50,0001 to help the people who had lost their homes and in need of Support in the southern part of New Caledonia after riots broke out in the streets and peoples, homes and property were destroyed. + The provision of circa. £27,120 1É32,0001 to purchase a vehicle lo as$i$l the Marist Fathers working in three rural mission areas in the Solomon Islands. + The provision of circa. £12,720 1É15,000) lo purchase a vehicle for Marist Fathers lo supply ministerial support lo various missions in Mindanao in the Philippines. + The provision of clr¢a £21,1￿ {é25.000} lo fund repairs al Peter Chanel Seminary in Yaoundé, Africa. + The provision of 8 grant of £5,000 for a young volunteer working in Ranong, Thailand. During 2024, the following UK charilles reeeived donations or grant funding support lo advance their charitable projectS'. • Emmaus Hull & East Riding- £10.000 * The Open Door8 Prolecl- £25,000 • Hull Help for Refugees - £3.500 * St Vincent de Paul soC￿tY IHulll- £5.000 • St Vincent de Paul SOc￿ty (Norfolkl - £30,000 • Eternal Benefits - £5,000 • Hull Foodbank- £5,000 Welcome House- £6,500 The Epiphany Tru81- £20.000 towards th8 Jedidiah Foundation project The Society of Mary {Marist Fathers) CIO 8

Trustees. report 31 December 2024 Achlevemgnts and performan¢e {continuedl • Support Cambodia- £6,000 • Kld8 Kabln Project- £18.500 Notre Dame Refvgee Centre- £3,500 • Nolra Dame de Fran￿ CIO - £19.3CH) Throughout 2024, the trustees continue lo participate in tralning aspects concernlng the prlnclples and rationales of the Charity Governance code and safeguarding updates provided by the Religious Lrfe Safeguardlng Service. FinanGial rgvlew Flnancial highlights No properly sales proceeds were re¢eived in the year nor in the previous year. There has been a decrease In dlvidend earnings from inveslmenls - £474,12812023- £613,041) and no legacie8 were recelved in the period (2023- £nil). A slgnlficant restrlcle(I legacy received in 2020 has now been exhausted. It has helped lo furbd 26 overseas missionary projectg in total.. 1 during 2024.12023- 11). with 8pprovaS and authori5alion of the grants provlded by Ihe trustees. At 31 December 2024, the General Administralion In Rome had received granl making funds lolalling £13,08512023 - £326.9331 to oversee the implementation of the final specrfic legacy funded project from the restricted legacy and a further £106,835 to fund overseas Marist projects in Afrlca, Asl8 and the Solomon Islands. The Charity operates a cenlralised pollcy for key adminislralwe expenditure and provldes local community properties wlh monthly subsidles lo assist vllh members, living costs. The followng transactions were carrled out during the year.. • Medical arKI resklentlal costs amounted to clrca £15,523 (2023 £5,000) for eldedy members and those wilh sgvere ill health. When availabl8, the provlsion of s￿te aid financial assistan￿ with these Gosts has lessened the call on the truslee3' financial resources. • As in prevlous years, the Iruslees contributed to the work of the Society In the Provin¢e of Europe- £68,41712023- £64.183}. • The Iruslees 81so conlrlbuled towards overseas misslon activity - £39,555 {2023 £36,325), whlch was partly funded through Mlssion appeals and the Pilgrimage Fund reserve. • Approval of grantrfnaking funded projects £264,135 {2023 - £230,000). • Quilter Cheviol investment managers received £25.46412023- £Nil) in fees for the year. A5 a show of good faith for the management Ghanges which occurred in 2023 Quilter Cheviol relmbursed 50Yo of their management fee for 2024 and 100% {£64.029) for 2023. The Society of Mary (Marist Fathers) CIO 9

Trustees, report 31 December 2024 Flnancial revlew {conlinuedl * The investment portfolio performance Increased by 7.1 % in the ye2r12023 - increase of 2Vol, after allowing for £533.085 withdrawals for donations and grant fundlng purposes. Income and expenditure in summary A summary of the results for the year lo 31 December 2024 can be found on paga 22 of this report and accounts. Total income for the year amounted to £789,18112023 - £957,665). £310,85712023- £341,311) of total income represents income from donations and legacies. Income earned on the Charity's listed investments totalled £474.12812023 - £613.041) 2nd £2,78212023 - £2.2911 was received as bank inl&resl. Total expenditure for the year was £884.01312023- £1,181,152). £470,685 {2023- £486,996) of the expenditure was incurred maintslnlng the members of the Society and enabling them to carry out their work. £387.86412023 - £694,156) was expended on grants and donations. Nel investment gains of £244,38012023- nel losses of £277,867) arose during the p8riod on the revaluation and disposal of the Charitvs investment assets and the overall nel movement in funds for the period, therefore, was an increase of £149,54812023- decrease of £501,355). ResoThes pollcy and flnancial posltlon The reader wll discern from the foregoing Ihal the Charlty carries out various activities and is responsible for the care and support of ils religSous members whose average age is increasing and whose needs are continually changiThJ. The trustees have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed a55els, deslgnaled for specrfic purposes, or otherwise committed. In considering the level of reserves requlred, Iru51ees lake into account forecasts of future Income and expendiluie, potenllal needs and risks, and the need to ansure the continuity of activlties. Given the nature of the Charills work and the Increasing. often unpredictable call on ils resources lo provide continuing essential care lo its members. especially those impaired by age and illne8$, the Iruslees believe that the level of free reseNes may be up to flve years, worth of expenditure wilhoul glving rise to concern. As previously mentioned, Ihe economic after*ffecls of the pandemic, the continuing war in Ukraine, the outbreak of warfare in the Middle-Ea31, and flucluallng inflatlon levels with increaslng interest rates have encouraged changes in the global markets and resulted in the Charil¥s Investment portfolio experiencing increas8d volatili(y. One of the consequences of trying lo manage the uncertainly that exi51s with the investment portrolio, is anlicipaling the level of divldené Income that will be available to the Charity during 2025. The trustees therefore rely on the free reserves lo help wf(h cashflow requirements lo meet op8rational expenditure in the year. Al 31 December 2024, the Charlly had net assets tolalling £15,460.728 (2023- £15,311,1801- The Society of Mary (Marist Fathers) CIO 10

Trusteos, report 31 December 2024 Flnanclal revlew l¢ontinued} Resetvos policy and financlal posltlon (continued) Of this, £975,35412023- £1,014,972) was represented by equipment, motor vehicles and the properties used lo house the members of the Charity and lo support their work. This b8lan¢e was separated in recognrtion of the importance of such assets lo the Charity's operational activities. and thus is unavallable to meet the Charitys day-to-day commttments. Restrlcl8d funds of £Nil {2023 £14,624) al the balance sheet dale represent the final payment of funds remaining from the significant legacy recelved in 2020, the application of which is restricted lo overseas special missions, projects that are controlled and monilored by the Charity and administered via the General Administration in Rome. The Charity trustees are mindful of the need to set aside reseNes to safeguard the future of Its members and their charitable work, giving consideration to the age profile of its memb8Ts, the annual c051 of supportlng them and maintalning residenllal properties. In accordance with the reserve policy. th8 Injstees rely on professional assistance in catrying out an acluarlal calculation lo establish the costs of maintaining and supporting all of the present members of the Charity to the end of their natural life. Members ages range from 63 to 90 years. Based on advice received, the trustees continue lo designate an accumulated sum of £6.7 million {2023'. £6.7 million) as a reserve to provide for the members of the Charty in their continuing ministry and retirement and for any unforeseen circumstsnces. The current cost of care for any member who requires resldentiallnursing eare is eslimaled to be circa £50.000 per annum. Whenever possible, the Charlly will apply lo the State for financial assistance. bul this may be limited due to the recelpt of occupatlonal penslons. In 2022, the trustees created a designalad Grant Making reserve from the recelpt of the net sales proceeds of Sl. Mary's Collegg in Bla¢kburn. The fund5 now sland al £3,622,20012023 £3,780,000) to be expended over the next three to four year5. The trustee5 have also d8signaled £52,877 {2023 - 92,432) being monies held in the Pilgrimage Fund reserve, lo be applied towards the overseas mission of the Marist Fathers within the next two years. Al 31 December 2024, the Charity had free reserves of £4,110,297 {2023-£3,710,691 }, which Is in line with Ihe policy set out above and importantly, Is regarded as belng sufflcient to enable the charity to meet the challenge8 presented ￿thin today'8 environfflenl. Investm•nt pollcy andperfornance After a formal review in September 2023, Quilter Ch8vlot Llmiled was retalned to manage Ihe Charity's listed investment portfolios gnd has done so throughout the period of this report. Custody of the investments 1$ held by a nomine8 company. The Charity invests in a diverse range of listed investments lo enable il lo spread risk. In 2023 the portfollo benchmarks were roaligned lo rebalance the proportion of equities and bonés according to the risk appelile of the trustees and advlce received from the fund managers. The market value of the Charit￿8 listed investments as at 31 December 2024 stood al £13,720,118 {2023 £12,887,929). Llsled Investment income for the year lotalled £474,128 {2023- £613,041). Th8 Soci8ty of Mary (Marist Fathers) CIO 11

Trusteos, report 31 December 2024 Financial revlew (continued) Investment pollcy andperformanGg (Gontinued) The Charity has an investment policy for ils listed inveslmenls, whlch is distributed to members and reviewed annually by the trustees. The Board's investment strategy is lo strive to maximise total returns within an acceptable level of risk in order lo meet the Charills on- going needs. The investment managers are inslrueled lo endeavour lo achieve long-lerm growth of both capital and income In order lo provide the level of Income that the trustees require lo meet their programme and responsibilllies In any one year. Advice is sought from the fund managers before the Iruslees embark on any programme involving swnificanl finance. 1118 the trustees, policy lo invest all non-reourring income (including legacy funds, shoTI term}. as well as any proceeds from the disposal of assets for the benefit of the Charity. The trustees pmvlde the fund managers with a copy of their investment policy slalement whlch details the Charity's position on ethical and moral prlnciples. It is the policy of the Charity to not normally, or knowingly invest in any company with a material exposure in.. Am)s manLrfacturers' + Tobacco manLrfaclure, alcohol, pornography, gambling., Support of oppressive regime8', + Anti-SOChg1 sales and marketing practices relating to alcohol and tobacco,. and • Violations of international conventions and norms in the areas of human righls, employment practices and climate change. Th8 poll¢y slates that investment cholee8 should never be mad8 in activities that would conflict with the objectives of the Charity. Whenever prudent and po$sibl8, the Iruslees seek to inv88t in those areas of the developing world where the Society works. During the year, the National Administrator, who is also a trustee, and the Chief Finance Officer receiv8 quarterly reports as well as monthly performance updates from the fund manager. Regular monthly summarie8 contain infomialion concerning the acquisltion and disposal of equities and dally information can be provided by onllne access lo the portfolios. The trustees meet wlh the fund managers annually lo review progress of the portfolio. The National Administrator and Chlef Finance Officer meet wth the fund manager every six months lo receive and review informatlv8 explanatory reports. During 2024. a mix of face-*o- face and video conferencing meetings where held with the inve81menl managers. The board of trustees have agreed a granl-making policy whereby 25D/o of the funds under investment wthin the 'B' portfolio will be dlslribuled annually to charitable and religious organlsalions within the UK and to Overseas Marist Provinces lo promote the works of the Society of Mary. The Society of Mary (Marist Fath8rs) CIO 12

Trustees, report 31 December 2024 Future plans The Irusteeg a￿ mlndful of their members decreasing numbers, their aging profile and fragllity. In October 2D23, a lease arrangement with the Di￿eSe of East Anglia was renewed for a further three-year for the occupation of the property in Wells. This lease will terminate in October 2026 and carrles a pre-delemiined break clause notice If requlred. Talks with the Diocese of East Anglia have begun around extendlng Ihe18ase arrangement and the condllions to be mel after October 2026. Th8 Charity lermin?led ils community presence in Blackburn In September 2023. The community property in Blackburn is currently 'sold sublect to contract,. It is hoped that the propety sale will be completed in Spring 2025. The board of trustee8 contlnue to be involved in preparing a programme of grant furKling iniliatlves both wllhln the UK and for Overseas Marist Provinces. Prln¢lpal rlsks and uncertalntles For a variety of reasons 2024 ha$ been a qU￿t yearfor the Charity. External economic factor8 have impacl8d the value of Investments, however th8 investment portfolios have managed lo rally prior lo the year4nd. The investment income received although lower than last year has compensated for the decrease In other Income sources. The trustees are confident that the level of reserves held by the Charity are sufficient to millgale any foreseeab18 financlal concern8 about the Charitls ability to conllnue as a going concern. Rlsk management procedur85 ale regularly carried out to idenirfy and assess any major rlsk factors which rf not detected could impact on the Charlws ability to perform effeGtively and affect the memb8rs' work and role In carrying out their mlssion. The trustees frequently seek Fwofessional advice to ensure complianc8 With their slalulory obligallons and regulatory duties are observed. All major risks are identified and recorded within a'Ri5k Assessment Regl8ter" and reviewed annually by the trustees and half-yearfy by management. The identrfiGalion of any serious risk automatically becomes an 8genda ilem for forlhwrning trusleo meellngs. with the necessary actions noted and outcomes monitored. The key risks for the Charity are described below. together vAth the prlncipal ways in which they are miligaled.. • Caring ft>r the elderty Members of the Charity are becomlng increasingly older,. their ngeds for professional healthcare and assistsnce wlh supported living are increasing loo. Members, care needs are mel through the provision of supportlve car8, medical andlor nurslng c8re, elther in- house or externally. 11 is a fact that considerable resour￿$ wlll be required lo provide an appropriate levd and quality of care {particularly if nursing or spgcialisl demfjnlia care is required}. Such resources are the responsibility of the Charity itself, wth input from the State. or a mixture of the two. The Society of Mary (Marist Fath8rs) CIO 13

Trusteos, report 31 December 2024 Prlnclpal rlsks and uncèrialntles (continued) Carlng for the elderly (continu8d) The Iruslees are aware that it IS 85senlial for proper financial planning to exlst so that when members requi￿ additional help. there are adequate funds in place lo finance this support. + Doterforatlon In the value ol thé investhient portfolio The Charity places subslanlial reliance on the dividend income received from ils inve81menl portfolio to maintsin ils operations and the capital appreciation of ils funds. Sicck market flu¢lualions are monitored on a regular basis and robust control mechanism8 are in ￿ace to deal wllh any adverse conditions. Global equty markets continued lo gxperience 8ubstsnlial volatllity during 2024 due in part lo the war in Ukraine, the conflict in the Middle•East,' inflationary pressures and the slow reduction In interest rates. In absolute terms the value of the portfolio has increased by 7.1 U/0 during the year 2fler accounting for withdrawals to support operations and lo finance granl-making projgcls. The investment portfolio contlnues lo be closely monitored as trustees acknowledge their dependerKe on the dlvldend income stream il provides for Its operational structure. The National Administrator and Chief Finance Officer have responsibility lo regularly monitor investment activities and lo receive delailed monthly and quarterly reports on the movements and performance of the funds within the portfdios. They are tasked wilh providing reports and updates to the trustees at meetings., while the Iruslees will receive copies of the annual reports and meet with the fund manager on an annual basis. + Age prollle olmembors The it)cr628ing age profile and dimlnishment of members has increased the risk of dilution in the ministry of the Charity and the associated income il receives. Th8 Charity continues to demonstrate public benefit by members providing soclal and pastoral work wrthln local communities and through the provision of charitable donations lo the Socielvs missions overseas, including the Generalale. Legacy funding has provided the Charity with an opportunity for grant-making to specfflc overseas missions, projects. Members of the Charity work in close partnership with professional lay people, using their financial and administralive skills to ensure financial viability. Safeguarding Operationally, the Charity may work wilh children and vulnerable adults including older people. The Iruslees recognise the absolute nec8ssity of ensuring the prolects'on and safety of all those that the Charity serves. Members of the Charity who engage in any form of mlnislry In England and Wales, a￿1 all those who work or volunteer for the Charity and may come inlo contact with children or vulner8ble adults obtain clearance from the Disclosure and BarriThJ Service {DBS). The Sodety of Mary (Marist Fathers) CIO 14

Trustees, report 31 December 2024 PrlnGlpal rlsks and uncertalntlès Iconlinuedl Saféguarding {continued) The Charily malntains contractual membership with the Catholic Safeguarding Standards Agency ICSSA} and Religious Lrfe Safeguarding Service IRLSS). Together, these organisalions are aCcO￿ntable for the implemenlalion of the safeguardlng rewmmendallons {8afeguarding slandaTdsl from the Elliott Review and have responsibilityfor regulatory oversight, compliance work arKI th& provision of safeguarding training lo religious congregations. Both organisotion5 b8came fully active during 2022. Internally. one of the Charitys trustees holds the position of Religious Safeguarding Lead and has responsibility for all safeguarding matters. He is assisted in his endeavours by a Safeguarding Coordinator and Ihey regularly feedback to the board of trustees. Both appo1n1￿ have undertaken a series of safeguarding Irainlng modules and refresher ¢ourses and are responslble for ensurlng the Charity's safeguarding policy18 adhered to in respect lo all members, employe85 and volunteers. In May 2024, the Nallonal Administrator and Chief Finance Cyfficer worked with Marsh Commercial's Insurance broker managers lo carry out a detailed examination I re-assessrnenl of insurance Gover forlhe Charity. The report produced was presenled lo the board of trustees and accepted. All major risks are covered by practical and well-tried procedures. Havlng assessed the major risks lo whlch the Charity is exposed, the trustees believe that by monitoring reserve levels. annual budgeting, comprehenslve Insurance cover. internal controls and centralising re5ponsibilily for major expenditure, they have prudent effective systems in place to minimise foreseeable risks. Structur•> governance. and manag•m•nt Since July 2016, the Charity Is administered on a day-to-day basis by the National Adminislralor and his Finance Committee which Includes the Chlef Finance OIFicer. The National Adminislralor shall automatically by virtue of holding this office, be ex-officio, the sole merrtber of th8 CIO f(Y as long as hg holds that office. If the CIO is wound up, the member has no liability to ¢onlribulg towards its assets and no personal liabilities for setuing its debts and other liabilities. The trustees alm lo formally meet rive times a year. to review developments and assess the f￿r￿￿oni￿9 of the Charity in order to monitor the present, and plan for the future as English law stipulates. Should occasion arise, they ￿11 meet with the Provlncial Superior of Europe to further the aims of the Charity. The Iruslees wish il to be noted that the 2022 &lecled ProvinGial Superior of Europe Is a member of the Charity. Rev. Duffy was appointed a trustee of the Charity in April 2019 and wlshes to retsin this position. The names of the trustees who served during the perl¢)d of this report and up lo the date of approval of this report are Ilsled on page 1. Apart from the first tru51ees, every appolnled trustee musl be appolnled. Subject to the consent of the Superior General. by a resdulion In writing by the National Adminlstrator and they shall, subject to clause 15 Ireliremenl and removal of Iruslees)- The Society of Mary (Marist Fathers) CIO 15

Trustees, report 31 December 2024 Structurei governance, and managemant {conlinuedl lal in the case of an individual who is a member of the Charity be appointed for a period of three years or such period of office as the Nallonal Administrator shall determine., Ibl in all other cases, be appointed for- 11) an initial term of one year., and, 1111 if reappoinled (subject lo clause 16 of this Conslltutionl for a term of three years., or such other tèmi as the National Administrator shall decide., and they may {subject lo Clause 16 of this conslltutlon) be reappointed. Members are $8lecled for appointment as Iruslees based on their skills, knowledge and experience, necessary for the effecuve adminlslration of Ihe Charity. Trustees are invited and encouraged to attend iraining presentations and webinars to familiarise themselves with the context within which the Charity operates. Briefing packs are prapared and distributed to trustees regularly, which draws upon the informatson from vaiious Charlly Commission publications, signposted through the Commlssion's guide CC3 "The Esselllial Trustee" as a follow up lo these sessions. The trustees are committed to developing high standards of governance and make use of the seven fundamental principles wlhin the Charity Governance Code lo review their governance procedures, functions and policies lo address eompliance needs. Trustees receive regular br￿fIng updates ané attend training workshops on the Governance Code. All Iruslee$ receive a copy of the audited annual reports and representative trustees meet annually with the fund managers and insurance brokers in order to review and assess their performance. Kéy management personnol The trustees Consider that they together with the Chief Finance Officer (who is also known as the National Bursar of the Society and is Charity Secretary) ￿PreSent the key managomenl of the Charity, and are charged with directing. controlling, running and operating the Charity on a day-104ay basis. The National Adminislralor. lo whom the main duties are entrusted, is a trustee of the Charity and he is asslsted in his endeavours by the Chief Finance Officer. All of the trustees are members of the Society and whilst their living and personal expenses are borne by the Charity they receive no remuneration in eonnection with their duties as Irus18es, The Chief Finance Officer's remunerations are considered when the Board meets lo dis¢uss the annual salary review, wh￿h is based on cost of living slatlslics and performance evaluation for all staff. Statamont of trustees. responsibilities The trustees are responsible for preparing the trustees. report and accounts in accordan with appllcable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practic81. The law applicable lo charities in England and Wales requires th8 trustees lo prepare accounts for each financial period. which give a true and fair vlew of the slate of affairs of the Charity and of the income and expenditure of the Charity for that period. In preparing these account8. the trustees are required 10: The Society of Mary (Marist Falhers) CIO 16

Trustoes, report 31 December 2024 Statement of trustees, re8ponslbllltles {conlinuedl + select sullable accounting policies and then apply them consistendy. • observe the methods and principles in the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing the accounts In accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102}'. make judgements and eslimales that are reasonable and pTudent', + stale whether applicable United Kingdom Accounllng Standards have been followed. subject to any material departures dlsclosed and explained in the accounts., and • prepare the accounts on the going concern basls unless it is inappropriate to presume that the Charity will contrnue in operation. The trustees a￿ responsiblo for keeping proper accounting records that disclose with reasonable accuracy al any tlme the flnancial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011. appliGable Charity (Accounts and Reports) Regulations and the provisions of the Charilvs Conslilulion. 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. Employe•8, volunteèrs and meml>ors of the Society The truslees wish to record their 8ppreciatlon of the dedicated, enlhusiaslic and positive approach of all members of tho Charlly often in the most difflcult of Circumstances and they underline Ihe support and commitment of all th8lr staff and volunteers. Thi5 has enabled the Charity lo continue to pursue ils objeGtive5. In accordance with UK law, the trustee5 provide a workplace pension, which offers a pension lo each of the Chanty's employees. All employees are able lo become members of this scheme. The Charlly contributes 6Dkn of gross salary in lo the workplace pension scheme and provldeg associated life assurance cover for staff. Approved by the tr(J$tees and signed on their behalf by: Rev Desrnond Hanrahan Trustee Approved by the tw$tees on.. olo 51 LOfL The Society of Mary {Marist Falhers) CIO 17

Independont auditor's roport 31 December 2024 Indopend6nt audStor's report to the trustoes of The Socioty of Mary (Marist Fathers) cio Opinion We have audited the accounts of The Society of Mary {Marist Falhersy CIO (the '¢harily'l for the year ended 31 December 2024 which oompris8 the stslement of financi21 activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes lo Ihg aGcounls. The flnancial reporting framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Standards, including Flnanclal Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practic81. In our opinlon. the accounts.. glve a true and fair view of the slate of the charity's affairs as at 31 December 2024 and of its income and expenditure for the perl(xl then ended., • have been properfy prepared in accordance with United Klngdom Generally Accepte Accounling Practice,. and have been prepa￿(j in accordance wlth the requirements of the Charfties Act 2011. Basis for oplnlon We conducted our audi( in accordance with International Standards on Auditlng {UKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibllities for the audit of the accounts section of our ￿pOrt. We are independent of the charity In accordance with the elhical requirements that are relevant lo our audit of the accounts in the UK, incluélng the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslong ralatlng to going con¢orn In auditing the accounts, we have concluded that Ihe trustees, use of the going eoncern basis of accounting in the preparation of the accounts is appropriate. Based on the work we have performed, we have not identified any materkql uncertainties relating to events or eondilions that, individually or colle￿ive1Y, may cast signrficanl doubt on the charills ability to continue as a going concern for a period of at leasl twelve months from when the accounts are auihorised for issue. Our responsibilities and the ￿SpOnsIbl11118S of the trustees wth re$pecl lo going ¢oncern are described in the relevant sections of this report. Other Infomiatlon The other information comprlses the information Included in the annual report. including the trustees, report, other than the accounts and our auditor's report Ihereon. The trustees are responsible for the other information contained ￿thIn the annual report. Our opinion on the accounts does not cover the other infomiation and we do not express any form of assurance conclusion Iheieon. The Society of Mary (Marist Fath8rs) CIO 18

Independent auditorfs report 31 December 2024 Other Infomiatlon (contlnued) Our responsibillty is to read the other infomiation and, in doing so, consider whether the other informalion is malerlally inconsislenl with the accounts or our kno￿8￿ge obtained in the course of the audit or otherwise appears to be materially mlsststed. Ifwe idenlrfy such material Inconsistencies or apparent material mlsslalèments, we are required lo determine whether this gives rise to a mglgrial mi5slatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a materigl misstalemenl of this other Information, we are required to report that fact. We have nolhlng lo report in this regard. Matters on whlch we are requlred to report by exceptlon In light of the kn￿edge and understanding of the chgrty and its environment obtained in the Gouf5e of the audit, we have not identified material misstalgmenls in the trustees. report. Wo h￿? nothlng to report In respect of tho foll(vilng matters In rglatlon to whlch the Charltles (AcGounts and Reports) R•gulations 2008 requires us to report to you If. In our opinion: • the informallon given in the trustees. report is inconsislenl in any material respect with the acGounls', or surriGient accounting records have not been kept., or • Ihe accounts are not in agreem&nt wlth the accounllng records and relurns. or • we have not received all the Infomiatlon and explanations we require for our audit. Rgsponsibilitles of trustees As explained more fully in the statement of trustees, re8ponslbllltle8 contained wthin the trustees, report, the Iruslees are responslble for the preparalK)n of the accounts and for belng satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparlng the accoun15. the trustees are responsSble for assesslng the charfly's ablllty to continue as a going concern, disclosing, as applicable. mallers related lo going concern and using the going concern basis of awounling unless the Iruslees either int8nd to liquidate the charity or lo cease operations, or have no realistic allernalive but to do so. Audltor's responsibilitiès for the audit of the accounts We have been appointed as auditor under section 144 of the Charlties Act 2011 and report in accordance with the Act and relevant regulatlons made or having effect thereunder. Our oblectlves are to obtain reasonable a$$uran¢e about whether the accounts as a whole are free from material mlsstalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable as5uran¢e is a high level of assuranco, but is not a guaTanlee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when 11 exists. The Society of Mary (Marist Fathers) CIO 19

Independent auditor's report 31 DeGember 2024 Audltor's respon8lbllitl8s for the audlt of the accounts {continuedl Misstslements can arlse from fraud or error and are considered material rf. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on th8 basis of these accounts. Irregularities, including fraud, are instan￿S of non-compll8nc8 with laws and regulations. We design procedures in line with our responsibilities. outlined above. to delecl malerlal misstalemenls Sn respect of irregularlties, Including fraud. The extent lo which our procedures are capable of detecting irregularfties. including fraud. is detailed below.. How the audit was considered capable of det8cting Irregularities Includlng fraud Our approach to identifying and assessing the risks of material misstal8ment in respect of irregularlties, inttluding fraud and non<ompliance with laws and regulations, was as follow5: + The engagement director ensured that the engagement team Collectively had the appropriale competence. capabilities and skills lo idents'fy or recognise non<ompliance with applicable laws and regulations,. + We identified the laws and regulations applicable lo the charity Ihrou9h discussions wth management 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 bul 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 lo the United Kingdom and Republic of Ireland IFRS 1021., and • We assessed th8 extent of compliance wth the laws and regulations identified above through making enquiries with management and revlew of minutes of trustees, meetings. We assessed th& susceplibilily of the charitls financial slalemenls lo materlal misstatement, including obtaining an understanding of how fraud might occur, by= * Maklng enquiries of management and those charged with governance as lo where they considered there was susceptibility lo fraud, their knowledge of actual, suspected and alleged fraud., and + Considering Ihg intemal conlrols in place to mlligate Tisks of fraud and non-compllan¢e with laws and regulations. To address the risk of fraud through man3gement bias and override of conlrds, we.. • Perfomied analytical procedures to identfy any unusual or unexpected relalionshlps- • Review8d journal entries lo idenllfy unusual transactions.. and • Assessed whether judgements and assumptions made in determining th8 accounting estimates sel out in thè accounting policies were indicatlV8 of potential bkgs. The Society of Mary (Marist Fathers) CIO 20

Indopendent auditor's report 31 December 2024 Auditor's rospon8lbS1itles for the audlt of the accounts Icontlnued} How th8 audit was consldered capable of d•t8ctlng iffggulariti•5 indudlng fraud (Gontinued) In response lo the risk of Irregularitles 2nd non-compliance with laws and regulations, we designed procedures which included, bul were not Ilmlted to.. Agreeing financlal stalemenl disclosures to underlylng supportlng documentation. Reading the minutes of meetings of Iruslees-, • Enquiring of as lo actual and potential liligalion and clalms-, and + Reviewing any available Corresponden￿ with the Charity Commission and other regulators. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Audlting standards also Ilmll the audit procedures requlred to identify nOn￿omPliance with laws and regulatlon8 lo enqulry of th8 trustees and other management and the inspectlon of ￿9￿1¥tOrY and legal co￿espondenCe, if any. Material misstatements that arisg due to fraud can b8 harder to delecl 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.uklauditorsresponsibllitfies. This descriptlon forms parl of our auditor's report. Use of our report Thls report Is made solely lo the ch8rily's Iruslees, as a body, in accordance wlth Part 4 of the Charities {Accounls and Reports) Regulation5 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are required lo slate lo them In an audilols 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 charlly's trustees as a body, for our audit work, for this report. or for the opinK)ns we have formed. Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL Date.. 14 May 2025 Buzzacoll Audit LLP18 ellgible lo act as an auditor in terms of section 1212 of the Companies Act 2006 The Society of Mary (Marist Fathers) CIO 21

Statement of financlal aGtivities Year to 31 December 2024 Y￿rt0 31 D•tsmber 2024 Unrestrlcted ReSt￿ted 2023 Tilol funds fund5 funds Total fwvjs Yearlo 31 UnMtttri¢ted thJhd9 R•&lrletéd funds Note8 Ineomefrom.. D(￿st1)n$ and l&J8r Invesiments and Inigrest Other I￿l￿ne DIV￿ dt8ThJlble fixed 88Sè1S Total Incomè 307.113 476.910 814 3,67 310,8SY 474910 814 207.875 615.332 764 256 914,029 43.638 341.311 615.332 764 258 95T.665 785,507 3.674 789.181 43.638 Expondlture M.. Ralslw fu￿1$ Charltsble acifviU8S . Swport ofmembersofthe Soclaty 8nd the1rm1n￿try . Grants and don8u¢ns Total oxpondliurtr 2S,464 25.464 470.8B5 333,685 829.134 470,08S 387,8 884,013 449.344 330.89g 780.243 37.652 363,258 40Q.910 S4.179 54.179 694,157 1.181,153 N0t(0x￿li￿rey1I￿C￿r bolore Irw•strnent galnslllos5051 1443271 150.5051 1¥932) 133,786 1357,2741 1223.4681 Net Invesbnenl gainsllknBwI 14 241380 24V80 1277.8671 1277,8671 Not Incomèll*xp•n(4bJro1 200,053 180.$051 149A48 1144,0811 1357.274 1501,3551 Tr•n51ors betrmen funds 18 135.8811 35,8BI 131.8BOI 31, N•1 Mo￿￿•￿t In frjnds 10 164,172 114,6241 149,548 I175,￿1) 1325,3941 1501.3551 Rgcondlatlon olftsnd$ Total funds bI￿ghtforWard al 1 January 2024 Total funds carfvd lonvard at 31 DAcqmbor 2024 15,296,556 14,fa4 15.311.180 15,472.517 34D,018 15,812.535 15.460.Y20 15.160.728 15.2￿.556 14,624 15.311,180 I recognised gains and losses are Included in the above statement of financial activities. IUI activities were continulng as at 31 December 2024. The Society of Mary (Marist Fath6rs) CIO 22

Balance shoet 31 December 2024 2024 2024 2023 2023 Noles Flx8d ass¥ts TangSble oss&ts Invèstm8n18 12 13 975,354 14,184,638 15,159.992 1,014.972 14,073.023 15.087,995 Curront 8ss8ts Debtors Cash at bank and in hand 14 68.997 299.874 308,871 117,331 317,275 434,606 Llabllltles Crèdit()rs- amounts falling dua wthin one year 15 168,135 1191.4211 Net eurr•nt a8#ets11Sabllltle8} 300.738 243,185 Crgdltors: amounts f8lllng due After morè than year 16 120,0001 Total not a￿•1$ 15060,728 15.311,180 Th• funds of tho charlty Income funds Restricted funds 17 14,624 UnreslriGled funds TangiNe ffixed 8888ts fvnd . Déwgnated funds . General fund 18 975,354 19 10.375,077 4,110.297 1,014,972 10.572,432 3,709,152 15,2￿,558 15.311.180 15.400.728 Approved by the Iruslees and signed on their behalf by.. Trustee Rev Desrnond Hanrahan Approved on.. iolo5( The Soclety of Mary (Marist Fathers) CIO 23

ststement of cash flows Year to 31 December 2024 Y•ar to 31 De￿mber 2024 Year tr) 31 Decembgr 2023 Notes Cash flows from opèratlng actSvlti•s: Nèt eash used in operating activities 619,850 1.679,4541 C88h flows from Inv•8trng actlvltles.. Investment in(x)me and inler&st rèoeived Proc8eds from dlsposal of tanglble fixed Assèts Purchase of tanglble fixed assets Proceeds from th6 dlsposal of Ilsted Invèstments Purchasè of listed investr￿n15 Not ¢a8h lus•d Invprovlded by Investlng activities 486,625 578,084 600 258 112,0031 116,2981 4.649,514 5,228.875 {5,237,3231 14,SQ13,812 {112.5871 1,287.107 Change In cash and Cash •qulvalents In th• yèar 1732,437) 1392,3471 CA8h and cash equlvalfjnts at 31 DeCem￿r 2023 1,502.369 1098,397 Change in cash and cash equival8nls due lo exchar¥Je rate movements (5,5381 13.6811 Ca8h 8nd ¢ash equlvalents at 31 Decemb•r 2024 764,394 1,502,369 Notss to the statement ol ca8h flows forth• porlod ended 31 Decembar 2024 A Roconcillatlan of not In￿me for the ￿ar to net cash provided by oporatlng actlvltles Y•ar to 31 Year to 31 D•cember December 2024 2023 Net incom•llèxpènditurel for th• ￿ar IHS per thè statom•nt of financlal •ctlvltles) Adjustmonts for: Depreaallon and impaimiant charg0$ Net (gains￿0&$eS on Invgstmenls Surplus on disposal of tanglbl6 fixed assets Investment Incom8 and interest recelvabl& Forelgn exchange losses OecreasellSncre8881 in debtors Decrease in cradiiors Not cash used In operatlng activities 149,$48 1501,3551 51.621 33,31fj 1244,3801 277.867 {6001 12581 1476,9101 1615,3321 5,537 3.683 38,620 148.7141 1143,2861 1828.6611 1619,8501 11,679,454) Analys1$ of cash and cash •qulvalontB 2024 2023 Cash al bank and in hand Cash h91d by investment managers Total ¢a8h and ¢ash equlvalents 299,874 464,520 764,394 317,275 1.185.094 1,502.369 No $6parale reconciliation of net debt has been prepared as there is no drfference belween the nel cash Idebtl of th& ¢h8rily and the above cash and cash equivalents. The Society of Mary {Marist Fathers) CIO 24

Prlncipal accountlng policies 31 December 2024 The princlp81 accounting policles adopted, judgements and key sources of estimation uncertalnly in the preparation of the accounts are lald out below. Basls of preparatlon These ?¢¢ounts have been prepared for the year to 31 December 2024 ￿th comparatives given for the period 1 January 2023 10 31 December 2023. The accounts have been prepaTed under the historical cost convention with items recognised al cost or transaction value unless otherwise slated in the relevant accounting policies below or the notes to these accounts. The accounts have been prepared In accordance with Accounting and Reporting by Charitlès= Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance wlth thè Financial Roporting Standard applicable In the United Kingdom and Republic of Ireland {FRS 102) Icharllles SORP FRS 1021, Ihg Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charlties Act 2011. The Gharity constitutes a publi¢ benefi't entity as defined by FRS 102. The accounts are presented in sterling and are rounded lo the neare51 pound. Scopg of accoun1$ These aGcounts do not include the funds of parishes managed by the member8 of the Charity as parish priests. SuGh furKls arg the properly of th8 relevant diocesan charity of which the parish Is part. Critical accountlng •stimates and areas of judgemant Preparallon of the accounts requireg the tru51ees lo make signrficant judgemen15 and estimates. The Items in the a¢eoun15 where these judgements and estimates have been made include.. • the useful economic lives attributed to tangible fued assets used lo detemilne the annual depreclatlon charge., the assumptions adopted by the trustees and management in delemilnlng the value of any designatlon5 required from the charivs general unreslricled funds,- and the estimate of future Income and 8XP8nditure flows for the purposes of assessing the charity's going concern status. The Society of Mary (Marist Fathers} CIO 25

Prlncipal accountlng policies 31 December 2024 Assessment of going GonGgrn The trustees have assessed whelh8rthe use of Ihg going concern assumption is appropriate in preparing these accounts. The trustees have made this a55essmenl in respect to a period of at least one year from the date of approval of these accounts. The Iruslees of the charity have concluded that there are no material uncertaintlas related lo events or condillons that may cast 8ignificanl doubt on the ability of the charitylo continue as a going concern. The Iruslees are of the opinion that the charity will have SuffiC￿nI resources lo meet ils liabilities as Iheyfall due. The most significant areas of judgement that affect items In the accounts are detailed abov8. With regard lo the next accounting period li.e. the year ending 31 December 20251. as éescribed in the trustees, report. the most significant areas that may affect the carrying value of the assets held by the charity ar8 the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the Irusle8s' report for more Information). Incoma Income is reoognlsed in the perlod in whtch the charity has enlillemont to the income. the amount of incom8 can be measured reliably and it is probable that the income will be recelved. Income comprise8 donations and legacles, Investment income, interest receiva￿e and sundry income. Donations, includlng salaries and pen8ions of individual religious received under Gift Aid or deed of cov8nanl, are recognised when the charity has confirmation of both the amount and s&ttlemenl dale. In the event of donations pledged but not received, the amount 1$ accrued for ￿ere the receipt is ¢onsidered probable. In the event that a donation is sublecl to conditions that require a level of performance before the charity 15 entitled lo the funds, the Income is éeferreé and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charlly and il is probable that those condltions will be fulfilled in the reporting period. In accordance with the Charitles SORP FRS 102 volunteer lime 1$ not recognised. Legacies are included in the slalement of financial activities when the charity Is enlilled lo the legacy. the executors have established that there are sufficief7t surplus assets in the eslale to pay the legacy, and any conditions attached lo the legacy are within th8 control of the charity. Enlitlement is taken as the earlier of the date on which either: the charrty is aware that probate has been granted, Ihe estate has been flnallsed and nolificalion has been made by the executor to th8 charity that a distribution wlll be made. or when a distribution is received from the estate. The Society of Mary (Marist Fathers) CIO 26

Princlpal accounting pollciès 31 December 2024 Income Iconlinuedl Receipt of a legacy, in whole or in parl, is only considered probable when th8 amount can be measured reliably and the charlty has been notified of the executor's intention to make 8 dislribulion. Where legacies have been nolrfled to the charity, or the charity is aware of the granting of probate, bul the crllerla for income recognition have not been mel, then the legacy is treated as 8 conlingenl asset and disclosed if maleTial. In the ev&nl that the gift is in the form of an asset other than cash or a financial asset traded on a recognlsed stock exchange. recognitlon is subject lo the value of the gift being reliably measurable with a degree of reasonable accuracy and the Illle of the asset having being Ir8nsferred to the charity. Dividends are recognised once the divklend has been d8clared and notification ha8 been received of the dividend du&. Interest on fvnds held on deposlt is included when receivable and the amount Can be measured reliably by the charity-, Ihi$ 13 normally upon nolificatlon of the interest paid or payable by the bank. The Surplus on disp0531 of tangible fixed assets Is defined as the difference beiween the sale proceeds and the nel book value of the asset al the time of the disposal and after deductlng any costs assoclated wlth the disposal. Expendlturè Liabilities are recognised as expenditure as soon as there Is a legal or ￿nStrUCtive obllgation committing the charity lo 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 ￿ measured reliably. All expenditure is accounted for on an accruals basis. All expenses are allocated or lo the applicable expenditure headings. The majority of expenditure is dlrectly attributable and any apportionment between headlngs is negligible. The classification between acllvlli8s Is as follow5.. + Expenditure on raising funds includes all expenditure asswiated wlh raising funds for the charlty. This comprises inveslm8nl management fees only. Expenditure on charltable activities include8 all costs assoC￿ated vthh furthering the charitable purpos8s of the charity through the provision of ils charitable acllvities. Such 05t3 include.. Expenditure on the support of members of the charity and Ihelr ministry enatjes the members to carry out the chafitable work of the charlly in tha ar8as of the advancement of the Roman Catholic Religion, th8 advancement of education and the spread of Christian values. Such expenditure includes governance costs, which comprise the costs involving th9 public accountability of the charity (including audit costs) and costs in respect to ils compliance with regulation and good practlce,- and The Society of Mary (Marist Fathers) CIO 27

Prlncipal accounting policies 31 December 2024 Expendituro Iconlinuedl • Grants and donations payable which in the maln. relate lo the support of the Society's Generalate and overseas missions. Grants and donations payable are Sncluded in the statement of financial activf(ies when approved. Grants approved but not paid al the end of the flnancial period are accrued. All expendlture Is stated inclusive of irrecoverable VAT. Tangible Ilxed assets All assets costing more than £1,000 with an exp¢¢ted useful Irf8 exceeding one year are ¢apitalised. Froehold land and bulldings + Colleges and schools Durlng Oecember 2024. the Iruslees relinquished legal ownership of the land and buildings used by one Sixth Form College in Middlesbrough and one voluntary aided primary school situated in Mlddlesbrough, which are exempl charltles and publicly funded lo the Diocese of Middlesbrough under a charitable transfer. The land and buildings were valued al £nil for the purpose of thes8 accounts. These education21 establishments were originally founded by the Charity. bul are now under separate control 2nd Njblicly funded. HiStor￿allY some developments to the estate were partially funded by slate aid accordlng to government policy at the lime and there 1$ no reliable information as lo their cost. • Non-speci81is&d buildings Non-speciali5ed buildings i.e. those designed as, and used wholly or mainly for, private residential accommodation 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. Any depreclatlon Ihereon. therefore, would be immaterial. SpeGialis8d buildings Specialised buildings include residential properti88 which have undergone signific8nt adaption works in order to serve the wider operational needs of the charity. Depreciation is provided al 20/9 per annum on a slraighl line basis in order lo write the buildings off over their eslimaled useful economic lrfe to the tharily. Buildings under construction are not depreciated. Furniture. equipment and motor vehicles Furniture, equipment and motor vehicles are depreciated in order to write assets off over their expected useful lives al the following rates per annum= • Furniture and equipment 20Q/o on cost • Motor vehicles 25Yo on cost The Society of Mary (Marist Fath6rs) CIO 28

Prlnclpal accounting pollcies 31 December 2024 Tanglblg flxed assets Iwntinued) Invostments Listed investments are a form of basic financial instrument and are initially recognised al theSr transaction value and subsequently measured at Iheirfair value a8 al the balance sheet date using the closing quoted market prlce. The charity does Th)t acqulre put oplicTrns, derivatives or other complex fln8ncial instruments. As noted above the main form of finan¢ial ri$kfaced by the charity is that of volalillty in equity markets and Investment markets due to wider economic conditlons, the atlilude of investors lo Investment risk, and changes in sentiment concerning equitles and within particular sectors or sub sectors. R821ise(f gains {or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrySng value or their purchase value Is acqulred subsequent to the first day of the financial year. Unrealised gains and losses are GalGulalod as the dffference between the fair value al the year-end and their carrwng v?lug al that date. Realised and unrealised investment gains lor losses) are combined in the statement of financial activities and are credited lor debited} the year In which they arise. Debtors Debtors are recognised al their selllemenl amount, less any provlsion for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted lo the present value of the future cash receipt where such diswunling is material. Cash at bank and in hand Cash al bank and in hand represents such accounts and instnjments that are available on demand or have a maturity of less than three months from the dale of acquisition. Deposits for more than three months bul less than one year have been disclosed as short term deposits. Cash placed on deposit for more than ono year is disc105ed as a fixed asgel investment. Crodltors and provlslons Credilorg and provisions are recognised when there is an obligation al the balance sheet dale as a result of a past event. il is probable that a transfer of economic benefit will be required in selllement, and the amount of the selllement can be eslimaled rellably. Creditors and provisions are recognised al the amount the charity antlclpaleg il will pay to settle the debt. They have been discounted lo the present value of the future cash payTnenl where such discounting is material. Fund structure General funds represent those monies that are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects. The tangible fixed assets fund represents the nel book value of the charity's langible fixed assets. The Society of Mary {Marist Fathers) CIO 29

Principal accounting poli¢ie$ 31 December 2024 Designated funds comprise monies set ashle out of unr8slricled general funds for specrf future purF)oses or projects. Re$lricled funds comprise monies raised for, or their use reslricled lo, a speerf￿ purpose, or Gonlributions 8ubjecl to donor Imposed conditions. Foreign currenclos Assets and Ilabllitles in foreign currencies are Iranslaled into sterling al the rates of exchange ruling at the balance Sheet date. Transactions in forelgn currencies are translated into sterling al the rate of exchange rullng at the dale of the trar)saclion. Exchange drfferences are taken in*0 account in arriving al the nel movement in funds. Penslon costs Contributions in respect of defined contribution penslon schemes are charged lo the statement of finan¢ial activities in the year In which they are payable lo the scheme. The charity has no liability beyond making its contributions and paying across the deductions for the employees, contributions. ServlGes provlded by members of thè Charity For the purposes of these aceounls no monetary value has been pla¢ed on adminislrallve and other services provided by membeis of the Charity. The Soclety of Mary (Marist Fathers) CIO 30

Notes to the accounts 31 December 2024 1 Income from donation8 and lega¢les Yeor to $1 Ypar lo 31 Unre5tr1Gted R•slrlclod Decomb8r Unrestrlcied Resirthd Dwiber Funds Funds 2024 Funds Funds 2023 Sakries aT¥J kEnsion8 ofmembers of the Charlty received unijergrfi andlor deed of ¢ovenanl Olhw donatio 306258 925 3Q7,1B3 306236 4,599 310,857 292,791 4,884 297,675 202,791 48,520 341,311 3.674 3,674 43.e36 43.636 There were no legacie8 recelv8ble by the charity in either of the above years. 2 Incomg from Investments and Intgrèst receivable Year to 31 Year lo 31 Unrestrlctod Restrfctod D•cernb•r Unrestrfd￿ Reslrfrtwj December Fund8 Fund8 2024 Funds Funds 2023 Incem8 Irom Ibled inveslmwts Intere51 recwY8bl8 474.128 2.782 476.910 474.128 1782 476,910 613,041 2,291 615,332 e13,041 2.291 815,332 3 Incomofrom other sourc•s Yoar tv 31 Year to 31 Unr85trfct8d Restrlcted Do¢omber unrestrict￿ Restricted December Funds Funds 2024 Fund8 FurK15 2023 MIS¢ellan￿uS i￿Ome 814 814 814 814 4 InGomp from dlsposal of tanglble flxod assèts Year Its 31 Year to 31 UnrestrSct•d R88trlcted Dec¢M￿r UrYe$trKaed Re51rlcted Decemb Fund8 Funds 2024 Funds Fwds 2023 sU￿lUs on dIs￿SaI of mo¢or v8hid8S 600 258 258 258 258 600 5 Expendlture on ralslng funds Y￿r 10 31 Unrestrfctod Re8trlcted Dgcombgr un￿$1￿¢t￿j Restri¢tad Funds Funds 2024 F￿d8 Funds Year to 31 December 2023 Inv851m8nt manager$ fees 25,464 The Society of Mary (Marist Fathers) CIO 31

Noto5 to tho accounts 31 December 2024 6 EX￿ndItur8 on charltable actlvltle8: Support of thg mgmbers of the Socloty and thglr minSstry Yoar to 31 Docember unrestrict￿ Restrl¢ted 2Q24 Funds Fwds Year to 31 08cember Unrostdcted Restrict•d Funds Fundjs 2023 Staff rnsts (note 101 Propth ?xp8ns8s Personal o)sts TraI￿1va Expenses of mlnlsty Oekyeckglkn Loss on fordon exthanoe Disposal other wsts St. Marv$ College. Blackbum (>>verTh8nce costs Inota 91 113.714 87,341 129,351 2,082 45,474 51,621 10.571 113,714 87,341 129,361 2.082 45.474 51,121 10,571 129,245 58.174 128,587 129,245 58,174 128.587 3,590 102,568 33,316 4.112 64.914 33.316 4,112 1,089 37.652 30,531 470,685 30.531 4T0,685 26,317 449.344 26,317 486.996 37,652 7 Expendlturo on charitable actlvltlo$: Grants and donatlons Year to 31 Unrnstrittod RgstrSctod D•cember ￿re8th￿￿ Restr￿ted Fund5 Funds 2024 Fun(Js Funds Y¢Hrto 31 Decemb 2023 The Generalate r4th0 Stk8ty Marist MIS￿on$ ov8seas Overs89s rnIs￿￿9Qr1tht runillny Martst Way Laty Emaus FJll & East RJWJ Open rkn( Etern81 ￿erts SVP Hull & Norfclk 68A17 6B.417 39,555 64,183 64,183 36.326 39.SSS 36,325 1D6I35 13,08S 119.920 1,539 10.WO 25,￿0 328.933 328.933 10.000 25.ODO s,000 35,000 s.000 6,500 3,500 20.00 6,000 18.SOO 500 15,0 5,0 10,0 5,0 7.2 15, 35,OQO 10.000 Hull Fo(xJbank Wdcome H(xJsè Hull Help for Relugees EF4ph2ny TDJ Support CambryJ18 Kid5 Kabin 7,2LX) 20,i￿O 18.500 500 CAFOD Sl JOM Boxo Camp Diocese of Salford NDtr& D￿0 Refug￿ Centre Notre Dne De FT#n¢e CIO Otherdonatloos of less than £i.c¥Jo 60.(K)Q 150,tthi 60.0 150.0 3.0 10,000 19.300 19.300 10,C4JJ 633 333.685 1,516 330,899 1.516 894,157 54,179 387064 363.258 8 Govèrnance cos18 Yéar to 31 Do¢èmb8r Unreslrlct8d 2024 F￿ndS Year to 31 December 2023 Unrg$trl¢t¢d Rgstdct•d Fund$ Funds Restricted Fund5 Professional f888 30,531 30.531 26,317 26.317 The Society of Mary (Marist Fathers) CIO 32

Notes to the accounts 31 Decemb8r 2024 9 Ngt movament In funds This is staled after charglng.. Year to 31 D•c•mb•r 2024 Year to 31 D8cemb8r 2023 Staff costs Inole 11) Audilorfs remuneralon IncludirvJ VAT . Stslutory audit- current year Non.audit seNleès-T8x wnsullancy . Non-audit services-Tru8tee Investment servicos Dgprg¢ialion Ino18 13) 113,714 129,245 12.000 1,920 10,200 1,782 6,600 33,316 51,621 10 Staff costs and remuneration of koy management personnel staff costs during the year were as follows.. Year to 31 Year to 31 D9￿mb￿r December 2024 2023 Wages and $818rles Social security costs Penslon costs T&mlnallon payments 100,507 3,849 9,358 115,973 4,599 6.673 2,000 129,245 113,714 The average number of employees during the year ended 31 December 2024 was 4 {2023 4). The full-lime equivalent number of employees during the same perl¢xl, analysed by function, was 2.41 12023- 2.54). There were no employees who earned £60,00012023- none) per annum or more lexGluding benefits) during th8 poriod. The Iruslees Consider that they together with the Chlef Flnan¢o Officer (who is also the National Bursar of the Society and Charity Secretary) comprise the key management of the Charity. The National Administrator, lo whom certain duties are entrusted, is also a Iruslee of the charty. The lolal remuneration (including benefits} payable lo the chartys key management personnel during the period ended 31 December 2024 was £ 56,84912023 - £57.6881. All Iruslees are members of the Society and whilst their living and personal expenses are LK)me by the charlly they recelve no remuneration. 11 Taxatlon The Sociely of Mary (Marist Falhersl CIO Is a reglstered charlty and therefore is not liable to income tax or corporation tax on income derived from its ch?rit?ble activities, as it falls thin the various exemptions avallable lo registered charities. The Society of Mary (Marist Fathers) CIO 33

Not08 to the accounts 31 December 2024 12 Tangiblo flxed asset8 Freehold land and buildbngs Fumibjre and equlpment Non- Specialised Spgcialised Motor Vehlcles Total Co8t At 1 January 2024 AdditSons Disposals Al 31 Decemb8r 2024 375,620 1,208,268 63.602 3.214 37.402 8.789 19,3891 36,802 1.884,892 12,003 19,3891 1,687,506 37S.620 1,208,268 66,816 Depreclatlon and impalmient At 1 January 2024 DepraclatK>n charge Impalmient On disposals At 31 D8cernber 2024 592,817 24,165 44,895 5,391 32,408 6,445 609,920 36,001 15,620 19,3891 712.152 15,620 19,3891 29,464 15,620 616,982 50.086 Net book values At 31 December 2024 Al 31 December 2023 380,000 375.620 591,286 615,451 16,730 18,907 7,338 4,994 975.354 1,014.972 Subsequent lo the balance sheet dale, the charity's interest in 18 Waverley Road, Ramsgreave (which wholly reptssents the carying value of non-specialised freehold land and buildings above) was disposed of for consideration of £360,000. The sale was completed on 21 March 2025. 13 Fixed assot investmgnts 2024 2023 Listed investmfynts C88h hgkj by Inv8Stmenl manager8 for r64nvestment 13,720.118 12,887,929 464,520 1,185,094 14,184,638 14,073,023 2024 2023 Llstgd Investments Markot value 1 January 2024 Add515ons at cost Disposal at book valuè Iproc6ed8.' £4,649.514' gains.. £26.5151 Nel unr6alised investment galns Market value at 31 December 2024 12.887,929 13,890,856 5,237,323 4.503,815 (4,622,999) 15,480,e88 217,865 125.8541 13.720,118 12,887,929 Hislortcal cost of Ilsted investments a8 at 31 Oecember 2024 12.641.447 12.346,443 The Society of Mary (Marist Fathers) CIO 34

Notes to th8 accounts 31 December 2024 13 Flxed asset invèstments (Gonlinued) Al 31 December 2024, the listed Investments comprised the fdlowtng- 2024 2023 UK fixed interest Ovèrseas fixed interest UK equilles and unlt trusts Overseas equllies a￿1 unit trusts CommodlUes. ab801ute return and Infrasiructur8 C85h Products 4,761,262 5,193,091 1,43e,054 1,139.336 894,328 1,075,393 3.193,183 2.885,524 1,422,004 2,398,678 2,013,287 195.￿)7 13,720,118 12,887,929 14 Debtors 2024 2023 Inveslrnent Income recelwable Other doblor8 Pr6payments and accrued income 36,556 2S,484 8,977 68.997 46,076 64.029 7,226 117,331 15 Crodltors: amounts falllng dua within ong ygar 2024 2023 Other crgditors and accruals 68,13S 68,135 191.421 191,421 16 Creditors: amount falllng due aftgr one year 2024 2023 Grants payable (see below) 20.000 20,000 Grants payable are In respect to a plgdge of £60,000 made in 2023 to fund Sl. John Bosco Camp in London lowards the provision of summer holiday camps for disadvantaged children In the local area. A sum of £20.000 was paid by the Charity in the year ended 31 December 2024. with one further instalrnent of £20,000 is payable in the year ending 31 December 2025. The Society of Mary (Marist Fathers) CIO 35

Notes to the a¢¢ounts 31 December 2024 17 Rastrlctod fund8 At31 D•egmbor 2024 January 2024 Incom• Expendltur• Tran8fvr8 Overse8 mission fvnd Marist Way mlnistry Overseas legacy funds 3.674 139,5551 {1,S391 113,0851 154,1791 35.881 1.539 13,085 14,824 3,674 35,881 Ati January 2023 At51 D8c8mber 2023 In¢om& Expendltur8 Transf&rs Over8eas missions fund Overseas l•gacy Iufxls Marisl Way conference 4.44S (36,325) {326,g33) (37,652) (400,910) 37.880 340,018 73,085 1,539 14,624 39, 197 43,636 340.018 31,880 The oversea5 mission fund comprises donation5 received for the specific purpose of funding Ihe Society's mission overseas. The transfer from the charity's unreslrieled general funés is made lo cover the shortfall of donations against the actual charitable expenditure on overseas misslons. The Marist Way conferen¢e made a small surplus In 2023 from thls one-off aclivlty. The overseas legacy fund relates lo a signlficant legacy receivable, the applicatlon of which is restricted towards overseas projects. 18 Tangible fixed assets fund 2024 2023 Al 1 January 2024 Net movements In year Al 31 Dwmber 2024 1,014,972 139,6181 975,354 1.031,9 117.0181 1.014,972 The tangible fixed assets fund represented the net book value of the charity's langlble fixed assets. This fund was established in recognition of the fact that the assets were used in the day lo day work of the Charity and therefore dKI not represent reserves available lo finance ils operations. The Society of Mary (Marist Fathers) CIO 36

Notes to the accounts 31 December 2024 19 Deslgnated funds The unreslricled funds of the charily Included the follo￿ng designated funds. whlch were set aside by the trustees for specific purposes.. At31 Utllls•dl Dècèmbèr r9148$ 2024 January New 2024 dwJlgnatlons Retirement rasèrvg Gr8NI m8king fund Pllgrimages fund 6,700,000 3.780,000 92,432 10,572.432 6,700,000 1157,8001 3.822,200 139,5551 52,877 1197,35SI 10,37S,077 A131 Utilised/ December released 2023 Al 1 January New 2023 desion8tlons R8lAr8Trnl reserve Grant maklng lund Pllgrimag$s fund 8,500,000 4,050,000 99.924 12,649,924 (1.800,OOOJ 6,700,￿0 (27Q,OOOJ 3, 780,000 (7,492J 92.432 (2,077,492) 10,572,432 The retirement reserve represented funds sel aslde to provide for members of the Charity in their reliremenl lo Ihe end of their natural lives. The reserve had been calculated using acluarial principles, but was adjusted as necessary in the light of available resources. The grant making fulld Gomprise5 funds from the disposal of the sile of St Mary's College, Blackburn whieh will be applied by the trustees towards future grant making activities over the next three to four years. The Pilgrimages fund represented monies set aslde by the trustees to be applied within two years towards the mission of the Marist Falhers. 20 Analysis of Thet as8ets between fund8 The following assets and Ilabililies represent the fund balances.. Unr•striet•d fund• Tanglbla fixed assets Dgslgnatod Rostrlcted fun(ts funds fvnds G•ngr•l funds Total 2024 Fund balan¢t8 at 31 Dec•mbor 2024 are r•près•nt•d by. Tangible fixed assats Investrnents Current assets Creditors.. amounts falllNJ due wSthin one year Total nel assets 975,354 97S,354 14,184,638 368,871 3.809,561 368,871 10.375,077 168.135) 4,110,297 {fj8,1351 15,480,T28 975,354 10,375,077 Thè Society of Mary (Marist Falhers) CIO 37

Notos to the accounts 31 December 2024 20 Analysls of net a¥Sots between funds Icontinuedl Unrestricfed furtd$ T8nglble Gener&1 funds assets D&sign8led funds funds Restric18d lund$ Total 2023 Fund balances at 31 D&c8mb8r 2023 are reptssènleil by.. rangibl8 fixad a$sel8 Investmer)ts Cuffenl assels Creditors." amounts falllng due wthin one year Credilors.. amounts f8llting Du8 after one year Total netassels 1.014.972 1,014,972 13.085 14,073,023 434,606 3,487.506 434,606 10.572,432 (191,421) (191.427) (20,000) 3. 710,691 (20,000) 13,085 15,311,180 1,014,972 10.572,432 The total unrealised gains constitute movements on the revaluation of listed investments and are as follows: 2024 2023 T(rtal Unreall￿d galns •t 31 December 2024 1.078,671 541,484 Rèeon¢iliatlon of mov•m8nts in unreallsed galn6 on listed Inve8tmonts At 1 January 2024 Nel gainslllos59$18risirvJ on revaluallon arising in the year Amount released Sn reS￿¢t to disposals in the year Total unrealls•d galns * 31 December 2024 541,484 217,865 319,322 1.078,671 4&5.654 125,8541 81,684 541,484 21 Ultlmate control The National Adminlstrator shall automatically, by virtue of holding that office, be ex-offlcio the sole member of the CIO for as long as he holds that office. If the CIO 1$ wound up. the member has no liability lo contribute towards Its assets and no personal liabiif(ies for Settling Ils debts and other liabilities. Apart from the first Trustees, every appointed Trustee must be appointed. subjecl lo the consent of the Superior General, by a resolution in ￿lling from the National Administralor The Society of Mary {Marist Falhers) CIO 38

Notes to the accounts 31 De¢embef 2024 22 Related party transactlon8 Bishop Alan Williams and Father Desmond Hanrahan are Iruslees of the Charlty and were appointed as trustees of Nolre Dame de France Soci8ly of Mary CIO I'NDF'} (Charity Registration Number 11779951 and Notre Dame Refugee Centre CIO {Charlty Registration Number 11779901 on 22 June 2018. Father Martin McAnaney is a trustee of the Charity and was appointed a trustee of Notre Dame Refug8e Centre CIO {Charity Registration Number 11779901 on 29 Sep18mbgr 2023. During the year to 31 December 2024, NDF conlributed £70,52912023 - £62,276) to the Charoly for the support of the clergy and the Charity made donations of £3,$00 to Notre Dame Refugee Centre CIO. Bishop Aan Williams and Father Desmond Hanrahan were not involved In elther deGlSlOn. Income from donations in¢ludes the penslon5 of the Iruslees of the Charity recelved under Grfl Aid or deed of covenant. For the year ended 31 Dg¢omber 2024, £47,693 (2023 £39,454) of pension's income donated by the Iruslee5 was receivable by the Charity. Father Peter Corcoran, Father Desmond Hanrahan and 8rolher Ivan Vodopivec, trustees of the CIO charity were also trustees of The Society of Mary (Marist Fathers} Charllable Trust. There was one further related paty Irans2Ction during the year of £19,300 {2023- 10,0001 to Notre Dame de France - SoGiely of Mary CIO in respect of a donallon to assist with the costs of replaclng the roof. Other than the above, there were no other related party transactions during the period of report12023'. no olher transactions). The Society of Mary {Marist Fath8rs) CIO 39