OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

*THIS REPORT COVERS AN EXTENDED 18-MONTH PERIOD ENDING 31 MARCH 2025

MISSION AND AIMS

Jesuits in Britain

The Society of Jesus is a Catholic religious order of priests and brothers founded in 1534 by St Ignatius of Loyola and now present in over 100 countries worldwide. In Britain, where they have been active for over 400 years, Jesuits work alongside a broad network of lay partners in education, pastoral care, spiritual guidance, academic research, and social justice – including refugee support, international development, and care for the environment.

Guided by the four Apostolic Preferences listed below, the MISSIONS & AIMS Jesuits are particularly focused on supporting the excluded and accompanying young people as they find their place in today’s world. Known for their practical spirituality – helping people find meaning and God in everyday life – Jesuits combine deep reflection with action. Alongside traditional ministries in schools, parishes, universities, and retreat centres, they are also expanding their outreach through digital platforms such as the Pray As You Go app and the Thinking Faith podcast series, Things I Wish I Knew . 87 9 387 4 11 JESUITS COMMUNITIES STAFF UNIVERSITY SCHOOLS PARISHES[8] MEMBERS CHAPLAINCIES THE JESUITS ARE GUIDED BY THEIR FOUR UNIVERSAL APOSTOLIC PREFERENCES: SHOWING WALKING CARING JOURNEYING the way to God through with the excluded for our common home, with young people the Earth

SHOWING the way to God through discernment and the spiritual exercises of St Ignatius

Offering SPIRITUAL accompaniment and guidance

Providing EDUCATING SUPPORT young people to the socially marginalised

THE JESUITS FULFIL THEIR MISSION IN VARIOUS WAYS WHICH INCLUDE:

Funding PROJECTS and ACTIVITIES which serve their mission

Gathering Carrying out high- COMMUNITIES level ACADEMIC in order to RESEARCH provide pastoral linked to Catholic and spiritual support social teaching

Figures shown are as at 31 March 2025, the close of the reporting period

PROVINCIAL’S MESSAGE

From Fr Provincial

St Claude La Colombière SJ preached a sermon on trusting God, which has come down to us. The date is uncertain so it is pleasing to think that the homily might have been given in London when Saint Claude lived here from 1676 to 1678 at St James’s Palace, as chaplain to Mary of Modena. The Jesuit saint expressed the conviction that “God watches over those who hope in him”. Pope Francis referred approvingly to this passage in paragraph 126 of his 2024 encyclical Dilexit nos , on the human and divine love of the Sacred Heart of Jesus. Several of the works of the Jesuits in Britain are dedicated to the Sacred Heart, including the schools in Wimbledon and the parish in Edinburgh. Many of our historic works, at home and abroad, had the same fond dedication.

The Jesuits in Britain have recently changed from describing ourselves officially as a “trust” to calling ourselves a “charitable organisation”. We continue to trust in God, and to aspire to be trusted by those we seek to serve and by the civil

society which surrounds us. We want also to highlight the fact that we are motivated by the love of Jesus Christ to be ourselves charitable and loving. The change of name expresses a profound continuity and also an ambition to be more fully ourselves, and to offer service to others which is truly altruistic and even self-sacrificing.

The Jesuits in Britain are people who hope in God. We are genuinely optimistic, but our attitude is one of more than good cheer about what might happen next. We believe in the promises of Christ. Our good deeds and worthy intentions are part of a providential scheme of things which is bringing all of us closer to happiness with God forever in his peaceable kingdom. Our work in spirituality and justice, and our concern for the young, the poor and our planet, are ways of practising charitable love according to the model of the self-sacrifice of Jesus. We can hope to put others first because of the grateful realisation that the Saviour who loves us has put us, and everyone else, before himself.

We survey the achievements and challenges of the past year in the same spirit as St Claude La Colombière urged his listeners to interpret the high and lows of their life through the lens of God’s loving care for everyone. We place our hope in the One who is completely reliable. Our own successes and failures find their meaning in Christ’s mission to save the world by love. Like the candid and uncomplicated sermons of the apostle of the Sacred Heart, our Annual Report is an honest record of our insights and our consequent activities. We are trying to focus on what is most important both to us and to a critical reader. There is no intention to be mysterious, yet the love by which we want to explain ourselves is a mystery as well as a practical truth. “God watches over those who hope”, we believe. Our trust in love is neither irrational nor born of desperation. We are setting out to give a reasoned account of our hope, which is the basis of our confidence about what we will be enabled to do next.

Fr Peter Gallagher SJ

Contents

This Annual Report covers an 18-month period from 1 October 2023 to 31 March 2025, owing to our transition to the new CIO legal structure on 1 April 2025 (see pages 6–7).

jesuit.org.uk 3

LONDON JESUIT CENTRE

A JOURNEY OF

renewal

Fr David Birchall SJ explores the evolving journey of the London

Jesuit Centre, a living space in the heart of the city where spiritual growth takes root and community blossoms.

he London Jesuit Centre stands today as a dynamic Tplace of learning and spiritual growth in central London, offering many short courses in theology, scripture, philosophy, social and environmental justice, as well as days of prayer, and courses in Ignatian Spirituality. Beyond the courses listed in our printed programme and on our website, the centre also hosts numerous groups for short conferences and meetings, as well as a three-year course in spiritual direction run by the ecumenical Ignatian Spirituality Course.

reach far beyond London, welcoming participants from across the country and even overseas. Freed from the physical limits of our classrooms, which seat around eighteen people, we have also been able to expand access and welcome many more seekers of knowledge and faith. While

The London Jesuit Centre stands today as a dynamic place of learning and spiritual growth in central London

Since the days of Covid many of our courses have embraced the possibilities of online learning via Zoom. This shift has broadened our

----- Start of picture text -----
Jesuits in Britain/Massimo Di Muccio
----- End of picture text -----

----- Start of picture text -----
The London Jesuit Centre hosts the launch of
A History of Philosophy: The Condensed Copleston, by Anthony Carroll
----- End of picture text -----

most of our teaching staff prefer the richness of face-to-face interaction, our most popular courses are now offered online and in person. Some instructors skilfully engage both groups simultaneously, using our ‘owl’ camera (which focuses on whoever is speaking loudest in the room), while others prefer to offer separate sessions for each format. This does have the advantage of tailoring each course to the different media, maximising the learning experience for all.

The initial thrust of the centre was to engage younger adults, many of whom work during the day and are unable to attend courses offered before 6pm. In response, we shaped much of our programme around evening courses, opening up opportunities for reflection, study and conversation at the end of the working day. However, we find that the age group we attract most, even in the evenings, tends to be middleaged. So, over the last couple of years our team members have deepened our collaboration with Jesuit Young Adults Ministries (JYAM) in London, co-creating days focused on themes suggested directly by young adults themselves. These gatherings, hosted both at the London Jesuit Centre and the Jesuit house in Clapham, have flourished and been warmly received, opening new pathways of dialogue and faith formation.

The growing relevance of the London Jesuit Centre is reflected in the rising demand for our space. Over the past year, income from room hire has risen by 16% while income from accommodation (bed & breakfast) has risen by 26%. Our spaces welcome

4 Jesuits Annual Report – 18 months to 31 March 2025

LONDON JESUIT CENTRE

a great variety of groups – from schools incorporating spirituality into their days, to Catholic organisations such as CAFOD and Jesuit Missions, and even other Christian denominations and secular groups which have become regular users. The central London location continues to make the centre a sought-after venue for diverse gatherings.

Our Cana Lounge, inaugurated by the Jesuit Superior General in April 2023, has become a beloved space for more relaxed meetings, such as JYAM discussion evenings, film nights, and book clubs. Farm Street parish hosts a popular lunchtime café there three afternoons a week, offering hospitality not only to parishioners but also to course participants and visitors to the Heythrop Library. It is staffed by people experiencing homelessness or who are out of work, giving them the opportunity to get into a work routine and develop catering skills.

The London Jesuit Centre’s theology and social and environmental justice teaching staff have also taken on stewardship of the Heythrop Institute, bringing together those with academic qualifications in these subjects through seminars, lectures, and workshops. Each term, two or three events create space for scholars and practitioners to connect in an enriching intellectual community. These events are generously supported by the British Province, and donations are not usually requested.

Theology Unpacked

Launched as a resource for teachers and catechists, the new podcast by the Heythrop Institute in collaboration with the London Jesuit Centre also aims to engage anyone interested in Christian theology and its place in today’s world.

Theology Unpacked emerged in response to the new Catholic Religious Education (RE) Curriculum Directory for schools, which proposes a spiral approach rooted in thoughtful, context-aware readings of biblical narrative. The big ideas of Catholic Christianity and its relation to the wider world arise naturally from these biblical texts.

For this bold educational project to be fruitful, RE teachers need a working understanding of the theological tradition behind it. Yet much of the material can be difficult for those with no background in Catholicism or Christianity, and some is challenging without a theology degree.

We began testing material for “Creation and Covenant” with teachers three years ago. As envisioned by the RE Directory, interpreting the biblical text in its context led naturally to enduring philosophical questions around the relationship between science and religion, faith and reason, as well as the faith-story of humanity and questions of ecological responsibility.

While many dioceses now offer excellent support programmes, access can vary. Our audio lectures aim to help fill that gap, providing an accessible roadmap of theology in the Catholic tradition. We hope this will deepen teachers’ personal understanding and offer some of the insights they need to make intelligent, creative choices in the classroom.

After a positive response to this material, and with the generous help of Emma Hudson and the Pray As You Go team, I wrote and recorded the first series of talks. Two more series have followed, and the fourth is nearly ready to record. We hope to complete the final two in the coming year.

The RE Directory outlines six

The London Jesuit Centre is growing, particularly in the areas of room hire and accommodation. Our classes are intentionally limited in size and most of them have reached full capacity. A thorough evaluation began in March 2025, with a report due in the coming months. It will help us reflect on how far we have come, and discern new paths for growth, renewal, and ever deeper service to those we accompany.

FIND OUT MORE

“branches” of study that roughly align with the liturgical and academic year. Each identifies a broad area of biblical narrative and introduces some of the theological ideas associated with it:

We have so far published 39 episodes across various platforms. Since launching on 16 October 2024, the podcast has reached 3,400 streams and downloads. It has 258 followers on Spotify and Apple Podcasts, with an average of 43 listeners per episode. Most listeners are in the UK and Ireland, and occasional feedback has been positive and encouraging.

londonjesuitcentre.org

jesuit.org.uk 5

GOVERNANCE FOR THE FUTURE

A NEW CHAPTER:

Jesuits in Britain CIO

on the Charity Commission website, while the trustee body didn’t – and since it wasn’t a company, it didn’t appear on Companies House either. This caused confusion in our dealings with suppliers, banks, and others. Explaining who could sign contracts was often time-consuming because trusts themselves cannot enter legal contracts. Even our banks struggled to understand the structure, and we frequently had to re-explain how it all worked. Meanwhile, some suppliers wanted to contract directly with individual Jesuit institutions (Jesuit Works), which are not separate legal entities.

After nearly 100 years, Jesuits in Britain are moving to a clearer, more effective legal structure by becoming a CIO from 1 April 2025. In this final report under the old model, Tim Edwards explains why this change is important and what it means for the future.

and in our case also by the Office of the Scottish Charity Regulator, as we operate across Great Britain.

ou may easily be forgiven for not only not knowing Ywhat a “CIO” is, but also why the British Province of the Society decided to change to one, what was involved, and why it took such a long time to set up.

With our transition to a CIO, Jesuits in Britain has finally become our official legal name

A CIO, or Charitable Incorporated Organisation, is a legal structure created just over a decade ago for charities. All CIOs are registered with and regulated by the Charity Commission in England and Wales,

Another key issue was that trustees under the old structure did not have limited liability, so only Jesuits could consider serving as trustees. Becoming a CIO gives trustees limited liability, enabling us to appoint lay persons to the board. Lay trustees bring different points of view, skills, and ideas to the table, enriching governance and helping us better serve our communities.

Our previous structure was set up almost a century ago, in 1929, with the trust “Society of Jesus Trust of 1929 for Roman Catholic Purposes” and its trustee body “Trustees for Roman Catholic Purposes Registered” (TRCPR or TRCP for short). These are the legal entities you likely knew us by, although in recent years we have also called ourselves “Jesuits in Britain”. With our transition to a CIO, this has finally become our official legal name, and the “CIO” suffix clarifies our legal status, like “Ltd” for many registered companies.

After much deliberation, the trustees decided in 2023 to adopt this new legal structure, which would allow us to consolidate the various trusts created over the past century into a single entity. After working out how best to achieve the proposed transition, we then needed to seek approval from the Charity Commission for the changes, including the new CIO constitution. This in itself took many months, as it was essential to recognise the nature of the religious order behind the CIO and to minimise the risk of the Jesuit ethos and charism being diluted over time, especially with the declining number of Jesuits. To safeguard the Society’s mission, the constitution would allow

By 2023, when the decision to change was actually taken, we had ended up operating multiple trusts (not just the original 1929 one), each with slightly different charitable objectives. This complex arrangement made management increasingly difficult, especially for accounting and legal purposes. For example, only the original 1929 trust appeared

6 Jesuits Annual Report – 18 months to 31 March 2025

----- Start of picture text -----
All images from the
British Jesuit Archives
----- End of picture text -----

GOVERNANCE FOR THE FUTURE

the Provincial to be the ‘sole member’, while also requiring that a majority of trustees remain Jesuits.

• Updating registrations with various statutory bodies, including HMRC, the Pensions Regulator, our pension provider, the Home Office, messaging across the safeguarding agencies, Catholic Province while respecting dioceses, and local authorities each Jesuit institution’s identity, where our schools operate. encouraging collaboration and • Reviewing and updating key policies, resource-sharing under a unified while introducing some new ones. Jesuits in Britain identity.

Other important steps included:

All these efforts have taken considerable time and effort, but we believe the benefits will be worth it. We expect the new structure to help us serve our communities better in the years ahead by improving governance, simplifying administration, strengthening legal protections, encouraging resourcesharing, enhancing financial oversight, clarifying responsibilities, bringing in new skills and perspectives to leadership, and supporting a more cohesive Jesuits in Britain identity.

We are optimistic that the new structure will provide a stronger foundation for the Society’s mission in Britain

Only time will tell how much of a difference this will make, but we are optimistic that the CIO will provide a stronger, more sustainable foundation for the Society’s mission in Britain.

FIND OUT MORE

www.jesuit.org.uk/news/an-importantupdate-for-our-supporters

jesuit.org.uk 7

JESUIT FORMATION

A SLOW WORK OF

grace

Fr Paul Nicholson SJ paints a vivid picture of Jesuit formation in the British Province today – a patient, global journey preparing men to face complexity and bring hope to a world in need.

vows), the stage of Jesuit life generally referred to as “formation”. Only three of these are currently in Britain. Two are novices, taking part in the programme that occupies the first two years of Jesuit life. There is an international novitiate in Birmingham, with men from Britain, Ireland, the

n July 2024 Bishop John Sherrington (at that time an auxiliary bishop Iin Westminster, now Archbishop of Liverpool) ordained Carlos Chuquihuara, a British Jesuit born in Lima, Peru, to the priesthood. The ordination Mass took place in the Church of the Immaculate Conception, at the Jesuit headquarters in central London. It was the culmination of twelve years of formation which had taken Carlos to Canada, Ireland, France, and Spain. In his homily Bishop Sherrington proclaimed: “We pray that your preaching of the Gospel may open the imagination of the mind, as well as the desires of the heart, to appreciate more deeply that the goods of creation are God’s gift given to all, the universal destination of goods, so that the kingdom of righteousness, peace and joy in the Holy Spirit may reach to the ends of the earth.” St Ignatius Loyola, founder of the Society of Jesus, wanted his new religious order to travel “to the end of the earth”, and Carlos’s ordination demonstrated how that desire continues to be fulfilled.

There are eight men belonging to the British Province preparing for ordination or final vows

Low Countries, France, Slovakia, and the Czech Republic. At this stage they are learning what it means to live the religious life, establishing patterns of prayer and reflection, as well as taking part in placements (“experiments” in the Jesuit jargon) in the kinds of work that they will find themselves doing later on. In the middle of his decade or so of formation, a Jesuit spends a couple of years in full-time apostolic service, and the other “scholastic” (the name given to men between their first vows and ordination) in the UK at present is working with the Jesuit Refugee Service in London.

As I write this, there are eight men belonging to the British Province preparing for ordination (or, in the case of Jesuit brothers, for final

The rest of formation involves studies of philosophy and theology, normally to Master’s level. Much of this currently takes place at the Jesuit faculties in Paris, where at any one time eighty or ninety younger Jesuits from across the globe are getting ready for lives of ministry. Two from the British Province are there at the moment preparing for priesthood, as well as the one Jesuit brother we have in formation. It is increasingly common for Jesuits to work outside of their own provinces, and friendships formed at the international study centres stand them in good stead for their future ministries.

The other two British scholastics are nearing the end of their studies, having joined the Society in 2015 and

Carlos is embraced by British Jesuit Provincial, Fr Peter Gallagher SJ

----- Start of picture text -----
Photo: Weenson Oo
----- End of picture text -----

8 Jesuits Annual Report – 18 months to 31 March 2025

JESUIT FORMATION

  1. They are both in the middle of theology courses at Boston College in the United States. During theology the men focus not simply on their academic courses, but also pay more attention to preparation for priesthood, with practical instruction on the administration of the sacraments, preaching, and similar matters. They are usually ordained to the diaconate during this stage, and spend some time each week in parishes, beginning to put into practice all that they have been taught. During one of the summers, they typically make an “Arrupe month” (named after the Jesuit General who saw the Society through the changes that followed the Second Vatican Council), a time of prayer and reflection to get back in touch with the roots of their priestly vocations and look forward to their future life and ministry.

While at any one time the British Province might have very few of its own men living and working in the UK, there are always a good number of Jesuits in formation in this country. At present around 25 of these are to be found around the country, the majority living in London but also in Oxford, Birmingham, Glasgow, Edinburgh, and elsewhere. Although there is no longer a Jesuit faculty of philosophy or theology in Britain (Heythrop College, part of the University of London, closed in 2019), the Province still runs Campion Hall in the University of Oxford, and hosts Jesuits coming here for postgraduate studies at several other

universities. It has always been a Jesuit ideal to “find God in all things”, and the range of these studies reflects that: art history, anthropology, counselling, data science, and politics are just some of the fields of research. Most of these men live in Jesuit communities, and contribute greatly to the international nature and atmosphere of the Society in this country.

The years of formation result in what is recognised as a distinctively Jesuit character in the various ministries we carry out

Even after he is ordained, a Jesuit priest is not finished with formation. A few years of apostolic work (or sometimes of further postgraduate study) follows, before the “tertianship”, a year’s programme designed as a “school of the heart”. Ignatius recognised that long years of study ran the risk of diluting the zeal which led a man to respond to God’s call to a life of apostolic service as a Jesuit in the first place. So this year recapitulates some of the experiences of the novitiate. The man makes the full Spiritual Exercises (a month-long silent retreat) for the second time; he reflects on the Jesuit Constitutions and other foundational documents in depth; and he engages in the kind of direct pastoral work that he may

have had little opportunity to practise in recent years. Once the tertianship has been successfully completed, the Provincial will call a Jesuit to take his final vows, the step that marks his full incorporation into the Society of Jesus, a way of life that he is likely to have been living for at least fifteen years by that stage.

This formation programme may seem like an extraordinarily long time to devote to preparation for a life of ministry, and many have asked why it takes so many years to form a Jesuit. An old joke had it that we were simply slow learners! But Ignatius wanted the members of his order to travel to places and situations where they might have little external support and would have to face complex issues. The years of formation aimed at preparing them for that, and result in what can still be recognised as a distinctively Jesuit character in the various ministries that we carry out, whatever they may be. The late Pope Francis, himself a Jesuit, clearly drew on his natural gifts in facing the many challenges that he encountered in his papacy. But the long years of Jesuit formation that he shared with so many other members of the Society undoubtedly contributed to what he was able to offer to the Church.

FIND OUT MORE

jesuitvocations.uk

----- Start of picture text -----
Jesuits in Britain’s newest priest, Carlos Chuquihuara SJ Photo: Weenson Oo
----- End of picture text -----

----- Start of picture text -----
Photo: Weenson Oo First and second year novices
----- End of picture text -----

jesuit.org.uk 9

WALKING WITH THE EXCLUDED

FINDING HOPE IN community

Liam Allmark from Jesuit Refugee Service (JRS) UK shares how steady, compassionate support – from housing and legal aid to shared meals and music – is helping rebuild lives and restore dignity amid growing challenges for people seeking sanctuary in the UK.

urgency of this, underscoring the hunger and malnutrition faced by people seeking sanctuary, including children going to bed crying for a lack of food and people becoming ill because they are unable to access adequate meals.

“ prayed daily for stable accommodation. Amani House Iis that answer to my prayers! I’m thrilled to move in, and it finally feels like I’m coming home.” After officially opening Amani House – a new home for male refugee friends – in late 2023, we were delighted to welcome the first residents. Their voices reflect what a powerful difference this new home has already made.

Our refugee friends are barred from accessing statutory support or accommodation, meaning that most face a vicious cycle of sofa-surfing and rough sleeping. Almost half of the people we serve spent nights on the streets this year.

Amani House, which was made available by the Jesuits in Britain, is now part of JRS UK’s wider accommodation provision, which also includes Emilie House for female refugee friends and our volunteer hosting scheme. These collectively provided more than 6,000 nights of safe and stable accommodation throughout the year.

And the impact goes far beyond giving our refugee friends somewhere clean, warm, and dignified to stay. For people who have been forced from their homes, then forced to the margins of society, it’s a chance to find friendship and solidarity. As one friend described: “It’s like we are a big family with an almost festival-like atmosphere. As all of us in the house are missing our families

a lot it’s nice to be able to get together and share a meal like a family, sitting together and sharing with one another.”

Once people are free from the dangers and uncertainty of homelessness, they are also in a far better position to progress their asylum case, something almost impossible when your priority is finding a place to sleep each night. Most of our friends have complex cases and have been badly let down by a hostile asylum system. Yet this year, our expert legal team continued supporting people to secure refugee status and humanitarian protection, meaning they can work, rent, study, and begin rebuilding their lives in the UK.

JRS UK provided more than 6,000 nights of safe and stable accommodation throughout the year

One friend reflected: “It’s this constant anxiety that you don’t know what your fate is going to be. Are they going to send me back? Are they going to misinterpret my case? You just don’t know. Working with JRS UK was great, I really felt they had my back.”

This year we have also expanded our provision of food, clothing, toiletries, sanitary products, and other essentials. Our joint report with the food charity Sustain highlighted the

On World Food Day we were delighted to announce a new collaboration with the Church of Jesus Christ of Latter-day Saints, who are generously supporting our provision of monthly food supplies for more than 200 people, as well as regular hot meals. One refugee friend shared: “At JRS UK I get fresh vegetables, canned foods, and packaged foods like brown rice. I am diabetic so I really appreciate the brown rice and sometimes brown spaghetti too! It comes at a convenient time – once a month. By the time we are food exhausted, we can get a resupply.”

Such partnerships with other faith communities have been a powerful feature of our work this year. During Ramadan we were delighted to host our first ever Iftar, with friends from our neighbouring mosque joining the JRS UK community to break their fast. It was a beautiful evening with people of different faiths coming together over some delicious food!

The critical importance of these moments was starkly highlighted by the racist violence that ripped through so many of our communities over the summer. This was one of our hardest moments, forcing the difficult decision to pause in-person services for the safety of our refugee friends, volunteers, and staff.

Because JRS UK provides regular mobile phone top-ups and pre-paid cards, we were able to continue

10 Jesuits Annual Report – 18 months to 31 March 2025

WALKING WITH THE EXCLUDED

----- Start of picture text -----
For people who have been
forced from their homes,
then forced to the margins
of society, it’s a chance to
find friendship and solidarity
Photos: JRS UK
----- End of picture text -----

----- Start of picture text -----
Through shared meals, music, theatre and
cooking, refugee friends find moments
of connection, joy and belonging
----- End of picture text -----

While this has been a profoundly challenging time for those seeking sanctuary in the UK, the scenes of so many people coming together in the hours following rioting, to care for those affected and repair the physical damage, show the kind of society that we can and truly want to be.

delivering services remotely including advice, legal assistance, and funds for essentials such as food or transport, while putting measures in place to reopen safely. Crucially, we were also able to stay in touch, offering friendship and accompaniment to people, amid so much fear and uncertainty.

I t is something we need to keep striving for. While the new government has reversed some of the most hostile antirefugee policies such as the dangerous Rwanda Plan, there are worrying moves to continue criminalising people seeking sanctuary here and increasing forcible removals. Throughout the year we continued working with supporters to campaign for a fair and humane asylum system that reflects Pope Francis’ call to welcome, promote, protect, and integrate those who have been forced to flee their homes.

We also challenged plans to expand the use of immigration detention and published a new report, sharing the experiences of those we have accompanied in detention centres. This has been part of the Jesuits’ work in Britain since even before JRS UK was formally established. This year our detention team supported more than 500 people through expert advice, assistance to access healthcare and legal support, befriending, and provision of essentials including clothing and phone credit.

In addition, we have launched new drama workshops, which can be a lifeline for people in the oppressive and isolating context of indefinite detention. One of our friends taking part explained: “These activities make my day and keep my mind active. Drama is a way to take yourself out of daily life.”

The transformative impact of performing arts was similarly displayed by our newly formed refugee music group, which had its debut performance at our Advent service this year. The sounds of Kurdish, Yoruba, and Ghanian songs filling Farm Street church, were a powerful reminder of our shared community including refugee friends from more than forty countries and supporters from all walks of life, joined together in strength and solidarity.

It is from this community that we, along with the wider Province, can draw our hope this Jubilee Year.

FIND OUT MORE

jrsuk.net

jesuit.org.uk 11

CARING FOR OUR COMMON HOME

A GLOBAL NETWORK FOR

ecolo INTEGRAL gy

often-fragmented worlds of research, practice, and policy. Our network now aims to gather postgraduate students, early-career scholars, senior academics, and institutional partners across sectors, all animated by the vision of integral ecology. Integral ecology is our paradigm and main approach: we recognise the profound interconnections between environmental, social, cultural, and spiritual dimensions of human and planetary well-being.

Our mission and method

Vinicius Ferreira da Paixão SJ and Revd Dr Peter Rožič SJ introduce the Integral Ecology Research Network (IERN), a Jesuit initiative that brings together researchers from across the globe working for a just and urgent socio-ecological transformation.

IERN’s mission is both scholarly and practical: to lead transdisciplinary research and practice towards a socio-ecological transformation that is just, urgent, and rooted in ethical discernment. Inspired by Ignatian spirituality, we adopt a threefold methodology:

----- Start of picture text -----
IERN’s Loving Our Land group met to learn
and build community around caring for creation
----- End of picture text -----

----- Start of picture text -----
Photo: IERN/LSRI & Partners
----- End of picture text -----

This approach reflects our commitment to co-creating knowledge that is not only context-based and goal-driven, but also pluralistic and inclusive.

Supporting the Jesuit mission

n the face of today’s interlinked planetary crisis – ecological, social, Iand spiritual – the world urgently needs integrated responses that combine rigorous research and lived commitment. To meet this call, the Integral Ecology Research Network (IERN) was founded in 2023 under the leadership of the Laudato Si’ Research Institute (LSRI) at Campion Hall, Oxford.

It is inspired by the Society of Jesus’s Universal Apostolic Preference to “collaborate in the care of our common home”. IERN seeks to connect and empower a new generation of researchers and practitioners committed to

a just, urgent, and sustainable socio-ecological transformation.

A global network born of a vision

IERN was born of a bold but simple intuition: that many researchers, especially younger ones, inspired by Laudato si’ and by the Ignatian call to discernment and service, lack a space to connect, reflect, and act together. Scattered across institutions, disciplines, and geographies, many find themselves isolated in their desire to work across disciplines, and in dialogue with communities and policy-makers.

In response, IERN was established as a global academic platform to bridge the

IERN is a Jesuit initiative grounded in the mission of reconciliation – with God, with others, and with creation. As a project of the British Province of the Society of Jesus, it has from the start aligned itself with the Society’s apostolic preferences, especially the calls to “walk with the excluded” and “journey with youth”, who are both most impacted by the ecological crisis and most ready to act.

Through its focus on young researchers and its global partnerships, IERN also supports the work of Jesuit institutions worldwide. We work closely with Jesuit universities, social centres, and advocacy networks, not by duplicating existing work, but by connecting and amplifying

12 Jesuits Annual Report – 18 months to 31 March 2025

CARING FOR OUR COMMON HOME

it. IERN aims to serve as a backbone for collaboration, enabling knowledgesharing, joint research, and coordinated action in service of the common good.

One example of this is the Integral Ecology Summer School (IESS), an immersive academic and spiritual formation programme co-organised with LSRI and the British Jesuits. Held annually at Campion Hall and nearby sites such as Austen Ivereigh’s farm, IESS brings together Jesuits in formation and selected collaborators for two weeks of intensive learning, discernment, and field engagement. Grounded in the Ignatian Spiritual Exercises and the Laudato si’ vision, the IESS forms ecological leaders through study, community, and personal ecological conversion.

Importantly, the initiative has already generated remarkable interest even before its first edition. Jesuits from around the world have expressed strong desire to participate, and several provinces have asked that the programme be replicated in other contexts across Latin America. The IESS responds not only to pastoral and ecological needs, but also to a concrete call from the Church’s magisterium. As it is articulated in the First Rule “To Have the True Sentiment Which We Ought to Have in the Church Militant” of the Spiritual Exercises:

All judgment laid aside, we ought to have our mind ready and prompt to obey, in all, the true Spouse of Christ our Lord, which is our holy Mother the Church Hierarchical.

The IESS thus answers a deep ecclesial yearning confirmed by the fourth Universal Apostolic Preference: “to collaborate in the care of our common home”.

The journey so far

Since its inception, IERN has grown rapidly. We have worked closely with LSRI to support research hubs on Food & Agriculture, Biodiversity, Commons Governance, and Ethical Economics. Through partnerships with organisations such as Ecocitizen, PUC-Rio, The

Downforce Trust, and the LassalleInstitut, we have co-organised projects and events including the Integral Ecology Dialogues, Henri de Laulanié Prize, and contributions to CBD COP 16.

Launching the IERN website, clarifying branding with LSRI, and creating a membership portal;

Our team’s recent work has taken us to Colombia, India, Mexico, the US, and across Brazil. Each collaborative and research trip deepened ties with Jesuit universities and global partners. Projects have expanded to include agroecology research in Africa and theological-pastoral collaborations in the US and beyond. A growing Affiliate Programme has welcomed its first members—scholars and practitioners who contribute to mentoring, research, and strategic direction.

We are also committed to integrating IERN more fully into international research-policy ecosystems, through dialogue with the World Bank, select national governments, and multilateral actors, while retaining our distinctive Ignatian and ethical foundation.

A community for the future

At its heart, IERN is about community: not simply networking, but building a shared space of hope, humility, and action. We are especially committed to accompanying young people who feel the urgency of our times and seek a path forward that integrates faith, reason, and action.

In each case, we work to ensure that academic research meets real-world needs, always grounded in the dignity of local communities and the richness of diverse spiritual and cultural traditions.

From establishment to expansion: Strategy 2025–2028 Our current priorities include:

As we look ahead, we remain convinced that integral ecology is not a niche interest but a horizon for the Church and the world, one that calls for new forms of thinking, relating, and transforming our institutions.

We are grateful for the support and vision of the Jesuits in Britain, and welcome collaborators, supporters, and fellow pilgrims to join us on this journey of transformation.

FIND OUT MORE

iern.org

----- Start of picture text -----
Photos: IERN/LSRI & Partners
IERN leads a Jesuit formation day at FAJE, Belo Horizonte,
focused on caring for our common home, ahead of COP30 Photo: IERN/LSRI & Partners
----- End of picture text -----

jesuit.org.uk 13

RESPONSIBLE INVESTMENT

INVESTING

with integrity

Callan Pringle, Responsible Investment Officer, shares how the Jesuits in Britain are aligning their investment practices with their mission, quietly supporting environmental and social change.

hen we carried out a carbon audit of our Worganisation in 2022, we discovered that our largest carbon emissions did not come from travel or heating, but from our investment portfolio. This insight has shaped the way we approach our responsibilities as asset owners. Our investments are not separate from our mission. They are part of it.

social thought. While the day-today management of our portfolio is outsourced, we work closely with our investment managers to ensure that our assets are stewarded in ways that reflect our commitment to care for creation and uphold human dignity. The principles outlined in the document Mensuram Bonam provide a strong foundation for our investment approach.

A key part of this approach is engagement. We believe in active stewardship rather than passive

We are committed to aligning our investments with the values of the Society of Jesus and Catholic

ownership. Every year, we re-evaluate our voting policy, attend company annual general meetings, and meet with management teams of many listed companies. Through these conversations, we have seen encouraging shifts in mindset and direction. When challenged with consistency and care, some companies begin to see their responsibilities in a new light. Engagement can lead to real, lasting change.

By using our investments to promote human dignity and care for our common home, we are contributing to the kind of world we are called to help build

Over the past year, our engagement has included co-filing a shareholder resolution at Amazon through CCLA, one of our investment managers, calling for a report on how the company’s human rights policies align with its practices around freedom of association. We also supported a resolution to L’Oréal regarding biodiversity, where dialogue has opened the door to more meaningful reporting practices.

We continue to engage with the financial sector, where decisions made by banks have large effects as the primary source of capital for companies. At the end of this last financial year, we contributed to efforts focusing on HSBC’s climate transition strategy, with particular

14 Annual Report 2023-2024

RESPONSIBLE INVESTMENT

attention to its sustainable finance targets and its exposure to fossil fuel companies. Our engagements with European financial institutions have also taken on added significance in light of several large North American banks withdrawing from the Climate Action 100+ initiative. At a time when others are pulling back, we have reiterated our own commitment to addressing climate risk through direct dialogue with our managers.

Our work on the real living wage also continues. We have signed on to multiple shareholder resolutions encouraging UK companies to achieve Living Wage Accreditation. These efforts build on years of engagement around labour standards and are an essential part of our commitment to human dignity.

In Madagascar, where our work reaches a local community, we have engaged with Rio Tinto on concerns related to their operations. Through this relationship, we hope to bring community voices into shareholder dialogue, strengthening both the ethical and practical impact of our engagement.

----- Start of picture text -----
Solar panels at the Corpus Christi Jesuit Community (retirement home) in Boscombe
----- End of picture text -----

New publication: Integral Ecology Quarterly Update

Since the 2022 carbon audit, the Decarbonisation Committee has held regular forums to share progress, updates, and news from across the Jesuits in Britain. In 2024, a Responsible Investment Officer was appointed to lead this important area. As part of this work, the Integral Ecology Quarterly Update was launched to keep the community informed and engaged.

First published in November 2024 and available on the Jesuits in Britain website , the update shares key information from these committee sessions with supporters. Three issues have been published so far, providing insight into practical steps being taken each quarter, such as divesting from fossil fuels, supporting workers’ rights, holding companies accountable for ethical practices, and reducing environmental impact across Jesuit communities.

As members of networks such as the Church Investors Group and the Charities Responsible Investment Network, coordinated by ShareAction, we collaborate with other investors who share our values. These partnerships expand our reach and allow us to share learning with others who are equally committed to ethical stewardship.

Alongside this work in listed equities, we continue to assess and improve the sustainability of our property portfolio and works. Across our communities, we have identified and begun implementing measures to reduce energy use and carbon emissions. At Boscombe, solar panels were installed following an environmental audit. At Campion Hall in Oxford, work is already in progress on electrics, water systems, and insulation, which will enable further improvements in efficiency.

We believe that by using our investments to promote human dignity and care for our common home, we are contributing to the kind of world we are called to help build. This is an ongoing journey, and we remain committed to deepening and expanding this vital work.

jesuit.org.uk 15

REFERENCE AND ADMINISTRATIVE INFORMATION

Reference and

administrative information

Trustees The following trustees are in Nicholas Austin SJ office as at 30 December 2025 Peter Gallagher SJ (Provincial and Chairman) and served throughout the Keith McMillan SJ (Treasurer and Secretary) financial period Gerard Mitchell SJ Paul Nicholson SJ (Socius - until November 2024) Matthew Power SJ Stephen Power SJ (Socius - from November 2024) David Smolira SJ Principal address 114 Mount Street, London W1K 3AH Auditor Buzzacott Audit LLP 130 Wood Street, London EC2V 6DL Bankers HSBC Bank plc 60 Queen Victoria Street, London EC4N 4TR Lloyds Bank plc 39 Threadneedle Street, London EC2R 8AU Main Investment Managers AXA Framlington Investment Management 155 Bishopsgate, London EC2M 3XJ CCLA One Angel Lane, London EC4R 3AB Comgest Asset Management International Limited 2 Grand Canal Square, Dublin 2, Ireland Savills Investment Management 33 Margaret Street, London W1G 0JD Estate Managers Youngs RPS (incorporating Stanton Mortimer Limited) Priestpopple, Hexham, Northumberland NE46 1PS HDAK B2 Pittman Court, Pittman Way, Fulwood, Preston PR2 9ZG Insurance Brokers PIB Insurance Brokers Poppleton Grange, Low Poppleton Lane, York YO26 6GZ Solicitors Stone King LLP Upper Borough Court, Upper Borough Walls, Bath BA1 1RG

16 Jesuits Annual Report – 18 months to 31 March 2025

202 3 –202 5 SHORT-TERM TARGETS

Our short-term targets for 2023-2025

A reminder of what short-term targets we set ourselves for the period and a review of how we performed, i.e. what progress has been made

Target set Progress made
Governance
Formation and Development of the Apostolic Body.
Communications
Publish Ignatian comment online to Ignatian comment is published through a variety of channels, including the Jesuits
help readers recognise that a faith- in Britain website, Thinking Faith, the Jesuit Institute and others.
based perspective can help them
live fuller lives, make good decisions
and make a difference to the world
around them.
Develop the online platform The Thinking Faith website has been updated, and a new podcast producer
of Thinking Faith to host and recruited to develop our online offering.
promote new audio and written
content more effectively, aimed
at particularly younger (18-40)
audiences to show them the way
to God and accompany them in the
creation of a hope-flled future.
Develop Pray As You Go, improving A new app has been designed and launched for Pray as You Go, improving the
user experience by acting on survey user interface. The app now has over 150k regular users.
results and implementing feedback,
and creating a new video resources
for deaf users.
Launch the new Polyhedron The new Jesuit Institute website launched in early 2025, improving accessibility
Magazine, an integral ecology and offering a clear presentation of the spirituality offerings of the Province,
website of broad public interest, including weeks of guided prayer, retreats, formation and more.
and the new Jesuit Institute website,
planned last year.
Safeguarding
Engage with the Religious Life Safeguarding team members attended regular meetings and the RLSS conference,
Safeguarding Service (RLSS) to with frequent informal interactions throughout the year. RLSS provide training on
develop a sustainable process of safeguarding matters for all staff and volunteers.
engagement with victim/survivors.

jesuit.org.uk 17

202 3 –202 5 SHORT-TERM TARGETS

Complete the update of all Province The SCIE report is still awaiting release from the CSSA; our own safeguarding
safeguarding policies, guidance coordinator is member of the working party responsible for it. The report
and procedures in the light of the has not yet been released by the CSSA, which is recognised as a risk on our
new standards framework and safeguarding risk register. Formal representations have been made about the delay.
the forthcoming report by the
Social Care Institute for Excellence
(SCIE) undertaken for the Catholic
Safeguarding Standards Agency
(CSSA).
Commission an independent review This review has been commissioned from the CSSA and is due to take place in
of the Province’s safeguarding September 2025.
arrangements.
Review safeguarding arrangements These were reviewed independently during the year. St John’s Beaumont ceased
at St. John’s Beaumont and Donhead to be a Jesuit school in July 2025.
Preparatory Schools.
Produce a two-year programme of A full workplan is in place. The safeguarding team have carried out a safeguarding
review of associated works of the audit of all Works across province during the period.
Province.
Support work across the Province in A working group on spiritual abuse was established. A document on the subject
relation to spiritual abuse. has been produced and is being used internationally within the Society of Jesus. A
training programme on spiritual abuse has also been developed.
Archives
Fully catalogue the thirteen All thirteen collections were catalogued, with twelve of these being completed
collections of personal papers that before September 2024.
are opening in 2023.
Produce ten blog posts and Ten blog posts were published, and 113 visitors had been welcomed to the
welcome at least 70 visitors by archives in the year to 30 September 2024.
end of September 2024.
Treasury
Register a Charitable Incorporated The Jesuits in Britain CIO was established in April 2024, and all assets of the
Organisation (CIO) and develop existing charity will transfer to the new entity in April 2025.
the process for conversion of
the charity to the new structure,
including the detailed planning and
allocation of tasks.
Scope out and identify a suitable After a tendering process, the fnance department selected Access Financials as
new accounting software package, the Province’s new accounting system. This replaces Great Plains for the Curia,
to support the new CIO, and to and QuickBooks for most Works / Communities. It goes live in April 2025, with
enable greater central visibility of major Works joining in October 2025. Smaller Works and Communities will join
management accounts throughout it in October 2026.
the year, improving and simplifying
the consolidation process.
With the assistance of an external The investment committee engaged with Stanhope Consulting to review the
consultant, undertake a review of charity’s strategic asset allocation and investment policy, and to benchmark it
the strategic allocation of assets in against similar investors with a long-term horizon. A revised investment policy is
the charity’s investment portfolio, in the process of being drafted, although fundamental changes are not anticipated.
so as to ensure its continued long-
term growth and alignment with
charitable objectives.

18 Jesuits Annual Report – 18 months to 31 March 2025

202 3 –202 5 SHORT-TERM TARGETS

General

Welcome the new Provincial to his role, facilitating visitations around the Province as he starts his term of office.

Peter Gallagher SJ took up his position as Provincial in August 2023; Stephen Power SJ was appointed Socius from November 2024.

Convening a Province Meeting in April 2024, bringing together Jesuits and lay collaborators from across the Province for joint discernment and fellowship.

A successful meeting of more than 100 Jesuits and lay collaborators took place at The Hayes conference centre in Derbyshire. The event included reflections on Fr General’s recent publication “De Statu”, time for individual and collective discernment, and plenty of socialising.

Parish ministry

The British Province’s Pastoral Assistant gathers representatives to meet regularly to review pastoral activities in the parishes and chaplaincies we run.

Hold a residential conference on Synodality, consisting of 30+ parishioners and Jesuits, with external speakers and facilitators, and quarterly follow-up meetings by Zoom.

A preparatory programme of meetings has taken place, ahead of a major conference (entitled “Accompanying in Hope”) with 100+ attendees planned for November 2025.

In collaboration with Young Adult Ministries, hold a consultation day for those working with young adults in our parishes.

A successful gathering was held in Preston, drawing together representatives from the young adult ministry groups in our parishes.

Arrange an overnight workshop on practical matters for parishes, including health and safety, safeguarding, line management etc.

A parish staff retreat and workshop took place at Stonyhurst in November 2023, reflecting on practical and theological topics.

Education

The work of Jesuit schools is supervised by the Jesuit Institute. The higher education sector has its own delegate.

Conclude a memorandum of understanding with relevant dioceses where academisation of Jesuit schools is planned, enabling the schools in question to retain their Jesuit ethos and involvement.

A memorandum of understanding was signed with the Archdiocese of Southwark in connection with the likely academisation of Wimbledon College. Discussions with other dioceses are progressing, but at an earlier stage.

Make the necessary preparations and Donhead Preparatory School welcomed girls from 2024 academic year, with obtain Department for Education various improvements to the site completed to accommodate the increased approval for Donhead Preparatory numbers. School to accommodate girls from the coming academic year, including the capital works to increase capacity and provide suitable facilities for girls, notably those joining the school following the closure of the neighbouring Ursuline Preparatory School.

jesuit.org.uk 19

202 3 –202 5 SHORT-TERM TARGETS

Appoint a new Senior Tutor for Campion Hall, responsible for recruitment and the student offer, and recruit an Events and Domestic Manager to help develop events support for the academic programme of the Hall in areas key to its mission, including workshops/ conferences, through collaboration with key partners.

Dr Sarah Apetrei joined Campion Hall as Senior Tutor in November 2023. An Events and Domestic Manager was successfully recruited, broadening the Hall’s capacity for workshops and other events.

Establish a new Governing Body by The Shadow Governing Body met regularly, reviewing overall strategy alongside the end of academic year 2024-25; student recruitment and development, and preparing for changes to governance this year, the goal is to operate a arising from the new structure of Charitable Incorporated Organisation for the ‘Shadow’ Governing Body, tasked Province. The new Instrument of Governance was approved by the Board of with moving towards a finalised Trustees of the Jesuits in Britain CIO in September 2024. The transfer of the Hall Instrument of Delegation, Statutes, to the CIO was recognised by the University of Oxford as effective from 1 April renovated Licence with the 2025. University, working with the charity and the University, in particular as the charity prepares for CIO incorporation.

Develop the Integral Ecology Global The IERN is now fully established under the Directorship of Peter Roži č SJ, with Network (IERN) and a strategic supplementary support from Laudato Si' Research Institute (LSRI) operations staff, plan for its development, led by new and an External Advisory Committee. The website is launched and numerous Director (Dr Peter Roži č SJ) from connections have been made with Jesuit and other higher education networks November 2023. around the world. Peter represented IERN at COP 16 Biodiversity in Cali, Colombia, including a Jesuit-facing event. IERN ho sted a new integral ecology Summer School for Jesuits in formation at Campion Hall in summer 2025.

Plan and organise a large scale multisite international conference on integral ecology research network, with connections in Kenya, Brazil and India, made available online, planned for early in the academic year 2024-5.

The IERN conference took place in the summer of 2025.

Formation

The formation of young Jesuits and lay Catholics is supervised by a Delegate of the Provincial.

Run the first full year of the new novitiate house in Birmingham, following a complete re-build of the property, welcoming novices from Britain, the Czech Republic, Ireland, the Low Countries and Slovakia.

The novitiate ran a successful full year in its new, purpose-built accommodation, with five novices in the first year, and six more expected to join next year. The Irish, Bohemian, Slovakian and Low Countries Provinces have been steadfast in their support for the new facility.

Continue to provide financial support for the Jesuit formation centre in Paris to ensure its sustainability, and to the Conference of European Provincials through the solidarity mechanism for Jesuit formation across the region.

We have continued our commitments to Centre Sevres in Paris, as well as to Jesuit formation across Europe, with significant grants made during the year.

20 Jesuits Annual Report – 18 months to 31 March 2025

202 3 –202 5 SHORT-TERM TARGETS

Continue our Young Adult Ministry, The Young Adult Ministry continues to grow, with retreats taking place in including a weekly Sunday Mass Barmouth, strong attendance at Sunday Mass and weekly events. and social for young adults at Farm Street Church, support for a residential community of young adults in Brixton as part of MAGIS@Home, and organising a pilgrimage to Rome and/or Santiago de Compostella in 2024, as well as promoting the 2024 MAGIS-Europe event in Poland.

Social justice and the relief of poverty

Work for the poorest is carried out in parishes and also in our projects for the marginalised. Mostly through the work of
the Jesuit Refugee Service (JRS).
Continue to meet the basic needs of 2023-24 was a challenging year, marked by rising hostility towards refugees and
destitute asylum seekers, providing the ongoing cost-of-living crisis. Nevertheless, our community of refugee friends,
advice, support and casework to supporters, volunteers, and staff has continued working tirelessly to build a more
enable them to access vital help welcoming society.
provided by others, and to provide
legal advice to help resolve their
asylum cases.
Provide accompaniment and Regular surgeries and immigration casework continued at Heathrow immigration
casework support to people in removal centres throughout the period.
immigration detention at Heathrow
Immigration Removal Centres
through weekly welfare surgeries
and matching with social visitors.
Raise awareness of the situation Our report ‘After Brook House: continued abuses in immigration detention’,
facing asylum seekers and those in examines practices and culture at Brook House, Gatwick and across all UK
immigration detention within the immigration detention centres.
Catholic community and beyond,
through engagement and outreach.
Undertake research and draft Our report, ‘Destitute and in Danger: people made homeless by the asylum
reports to policy makers arguing for system’, was launched in September 2024. The report examines the experiences
a change in the unjust policies and of homelessness among people refused asylum in London in the context of the
laws that affect those we accompany, cost-of-living crisis and following the COVID-19 pandemic.
using media to infuence change.
Engage in a journey of reconciliation, Reconciliation work continued throughout the period. One highlight was when
rooted in justice, between refugees we held our frst ever Iftar: the community came together at our centre to break
and host communities; creating space fast.
for mutual understanding to grow
and for refugees to provide support
for others.
Explore a new project in the Our community work, in both London and the North-West, has continued to grow
North West of England, rooted in this year, creating more opportunities for encounter between our refugee friends
accompaniment and reconciliation. and neighbours; this includes local litter picking and a new gardening project.
Open Amani House, new residential Amani House was successfully opened in January 2024. This 6-bedroom property
accommodation for male refugee meets people’s urgent housing needs, giving them a safe space and stability to
friends in South London. work on fresh asylum claims.

jesuit.org.uk 21

202 3 –202 5 SHORT-TERM TARGETS

Care of infirm and elderly Jesuits

Review and if necessary consolidate the provision of healthcare facilities for our infirm and elderly.

Improve the carbon efficiency of the Jesuit retirement residence in Boscombe, installing insulation and solar panels to defray the building’s electricity usage.

The curia team carried out a review of the age profile of all Jesuits and the likely need for care in the coming years. While this will be kept under review, no immediate need for consolidation of our care provision is required.

Solar panels were installed in Boscombe, becoming active in March 2025. They generate up to 250kw of electricity on sunny days, significantly reducing the building’s carbon footprint and defraying energy costs.

Spirituality

The Province’s work in spirituality is carried out under the direction of a Delegate of the Provincial.

Deliver a new Hybrid Spiritual Exercises retreat which offers the possibility of making the full Spiritual Exercises partly in-person and partly online for those who would not otherwise be able to make them. The first upcoming retreat is already fully subscribed with a waiting list, so to also look at how to expand future access to this offering.

We successfully launched and ran the first offering of the Hybrid Spiritual Exercises retreat with a maximum number of participants. We already have applications for next year’s retreat.

Offer resources and formation, both in-person and online, on Synodality and Common Apostolic Discernment to enable lay Catholics to participate more fully in the life and decision making of the church.

We ran our Living the Spirit of the Synod programme in the new year. In addition, a Jesuit Institute team member was a member of the School for Synodality project (that exists to help support the synodal conversion of the Church in England and Wales in our day to day practice) and contributed to the development of a resource pack which is now being trialled in Northampton Diocese.

Launch the new Jesuit Institute website and continue to develop online material and resources to be made available through it, including new video-based material.

As noted above, the new website has been launched, including new video-based material and a work programme for the development of new online formation material and resources.

Improve the take-up of retreat places at St Beuno’s to an average of 90% through the recruitment of new fundraiser / marketer, and by encouraging seminarians and those exploring a vocation to the Catholic priesthood to attend retreats; continuing to diversify those who attend, particularly younger people and those in active ministry.

The recruitment of a fundraiser took longer than anticipated, although is now in place. Most retreats and courses had a very high take up over the year, although delays in the refurbishment of some accommodation reduced capacity for most of the year. There was an overall take up of 85% of places on our programmes throughout the year.

Re-launch Supervision Training for the first time in seven years at the Ignatian Spirituality Centre in Glasgow, and run joint events with St Aloysius Church and school to create a more cohesive base for the Jesuit mission in Glasgow.

The Ignatian Spirituality Centre increased its footfall, and relaunched Supervision Training, expanding work with St Aloysius School, and increased outreach The Catholic Theological Forum held a meeting at the ISC in November 2024.

22 Jesuits Annual Report – 18 months to 31 March 2025

202 3 –202 5 SHORT-TERM TARGETS

Work worldwide

The office that coordinates this work is that of Jesuit Missions with its director.

Develop a strategy for reaching This year, we have created various spaces to hear our partners’ voices, out to more schools and parishes, understand their context and needs, and incorporate their insights into our recruiting volunteers to provide strategic planning. Currently, 40% of the project leaders of the projects we coverage in terms of visits and support are lay people. In line with the UAPs, we are supporting a project which supporter engagement, and trains young people to become environmental leaders in their countries. convening focus groups (including universities, schools, parish groups) to gain a better understanding of interest and support of Jesuit Missions.

Mount campaigns around the Awareness-raising of environmental issues, using events such as the Global Food Season of Creation in September, Security Summit, Earth Day and COP to show the impact climate change has on and COP29 throughout November our partners. and in early December.

Improve income-raising potential We have continued to print ‘Keep in touch’ and information postcards and have through two direct mail appeals, a put posters up across our office in Wimbledon. Badges, banners and merchandise legacy campaign, efforts to recruit are used at events and appeals. There is further work to be done on embedding more regular givers and to convert the brand values (Compassion, Generosity, Hopeful) into our communications standing order givers to direct output. debits.

Run a ‘Partner of the Month’ feature from February to Increased visibility of international programmes by introducing the ‘Partner of the November 2024, as part of plans Month’ initiative to showcase a specific partner/region with at least four ‘success to put greater focus on those we stories’. support, with regular testimonies from these partners to highlight how they have benefited from the various projects.

jesuit.org.uk 23

202 5 SHORT-TERM TARGETS

Short-term targets for 2025 - what will we do?

A number of targets have been set for the forthcoming six months

Governance

Formation and Development of the Apostolic Body. For the coming six months we aim to:

Safeguarding

Archives

Treasury

General

Parish ministry

The British Province’s Pastoral Assistant gathers representatives to meet regularly to review pastoral activities in the parishes and chaplaincies we run. For the coming six months we aim to:

Education

The work of Jesuit schools is supervised by the Jesuit Institute. The higher education sector has its own delegate. For the coming six months we aim to:

Formation

The formation of young Jesuits and lay Catholics is supervised by a Delegate of the Provincial. For the coming six months we aim to:

Social justice and the relief of poverty

Work for the poorest is carried out in parishes and also in our projects for the marginalised. Mostly through the work of the Jesuit Refugee Service (JRS), we aim to:

24 Jesuits Annual Report – 18 months to 31 March 2025

202 5 SHORT-TERM TARGETS

Care of infirm and elderly Jesuits For the coming six months, we aim to:

Spirituality

The Province’s work in spirituality is carried out under the direction of a Delegate of the Provincial. For the coming six months, we aim to:

Work worldwide

The office that coordinates this work is that of Jesuit Missions with its director. For the coming six months we aim to:

• Empower local partners to lead advocacy initiatives in their communities; stronger project and financial management; effective community engagement; establish a knowledge-sharing platform for best practices across regions.

jesuit.org.uk 25

FINANCE AND ADMINISTRATION

Finance and administration

Financial Review

Due to preparations to transfer to the Jesuits in Britain CIO, the accounting period was extended by six months, resulting in this “annual” report covering a financial period from 1 October 2023 to 31 March 2025. For the purpose of comparability, in the charts below, figures originating in the SoFA are shown both gross for the full eighteen-month period (marked as †) and pro-rated by 12/18 (marked as *), for ease of comparison.

Income

Income rose by about 16.6% (pro-rata for twelve months) to £32.6m (£48.9m over 18 months) in 20232025. Much of this is attributable to the timing of school terms vis-à-vis period ends (noting that the 18-month period includes substantially five terms’ bills). While donation and legacy income has fallen slightly on a pro-rata basis, sustained higher interest rates (than have been

seen in recent times), and stronger investment performance than 2022-2023 has also contributed to an overall higher income figure.

Looking back over the last five-year period, total income has grown gradually, reflecting inflation and an investment mandate to ensure that real value is preserved. While investment income had previously declined (due to a combination of a switch from UK to global equities and the decision to divest from fossil fuels, traditionally stocks with a strong record of dividend payment), it has now started to increase modestly, again, likely due to inflation. The increases in credit interest over the past three years have also contributed to an increase in investment income. It should also be noted that the portfolio is managed on a “total return” basis, and that the underlying asset valuation (as discussed overleaf) is of significance as much as the income generated.

In 2019-2020, other income included £3.5m directly attributable to default interest charged for the late payment of a property sale.

26 Jesuits Annual Report – 18 months to 31 March 2025

FINANCE AND ADMINISTRATION

Charitable expenditure

The Charity’s expenditure on its charitable activities for the year was up by 5.2% (pro-rata for twelve months) to £39.3m (£59m over eighteen months) compared with £37.4m in 2022-2023. Staff costs represent a major driver of the Charity’s overall costs, and increases in these – to reflect the continued increases in the cost of living seen in the year – impact all areas of charitable expenditure.

2023 - 2025 saw increased expenditure across all major activity areas except pastoral ministry and work overseas, where costs and income remained more static. The costs for care of its infirm and elderly members rose by 11.6% (pro-rata for twelve months) reflecting, in the main, the costs of employment for care staff, driven largely by increases to the Living Wage Foundation rates of pay.

Net expenditure before gains on investments

A net deficit (before investment gains) of £15.9m was recorded during the eighteen-month period (pro-rata £10.6m for twelve months), compared with a net deficit of £12.8m in 2022-2023. As noted above, the Charity pursues a “total return” approach to investment.

Investments

2023-2025 saw continued growth in the value of the investment portfolio from the previous year, following significant unrealised losses in 2021-2022. The portfolio saw net unrealised gains of £86.7m in 2023-2025, compared to gains of £40.4m in 2022-2023 and losses of £62.7m made in 2021-2022. This had followed gains of £89.9m in 2020-2021 and £35.1m in 20192020.

The final quarter of the 2023-2025 accounting period was challenging, with both major investment managers underperforming the benchmark on an annual basis (returns of 1.04% and -1.86% respectively vs. the benchmark of 4.87% in the year to 31 March 2025). However, this masks stronger performance earlier in the period (returns of 22.47% and 16.61% vs. the benchmark of 19.89% in the year to 30 September 2024). As in previous years, many of the losses and gains in-year have been unrealised in nature. The charity accepts that it remains open to the volatility of equity markets. Emphasis continues to be placed on holding sufficient cash reserves, so that sell-offs are not required to fund our work at a time when markets are weak; these cash holdings have produced a decent return owing to sustained high rates of interest.

Net movement in funds

The current period’s operating deficit combined with investment gains has resulted in a net positive movement in funds of £70.8m, which compares to a net positive movement in funds in 2022-2023 of £27.6m.

jesuit.org.uk 27

The Funds of the Charity

As a result of investment gains during the 18-month period, the total funds of the Charity amount to £784m compared to funds at the start of the period of £713.2m.

Funds fall into three categories:

Restricted Funds: £87.5m of our funds are for particular projects, subject to specific conditions imposed by the original donors. These are described in fuller detail in the notes to the accounts.

Designated Funds: £688.8m of our funds are designated (or set aside) in order to enable the Society further to fulfil its mission, i.e. the service of faith and the promotion of justice, as described more fully in this report. Although the Jesuit constitution provides that its funds may be built up to promote and endow its colleges and other Works, permanent endowment is not allowed to its religious communities whose members have completed formation and are not in care. Jesuits covenant any income they receive to the Trust, so that all salaries, pensions, royalties, personal legacies, etc. are used for the Works of the Trust, with the Trust meeting their living costs.

There are four main funds of the Jesuits in Britain, which have been designated to:

By designation of funds, the trustees retain the flexibility to respond to changing needs, while providing a useful method of balancing the different claims on funds.

More information on the designations is given in notes to the accounts.

Unrestricted Funds: in addition to the funds referred to above, general funds of £7.7m are available to support the work of the Jesuits in Britain in the future. These increased from £4.9m during the course of the 18-month period.

Fundraising

Much of our ministry this period is thanks to the generosity and prayers of very many people. Ensuring our fundraising is respectful and lawful is very important to us. The Charities (Protection and Social Investment) Act 2016 requires us to report on key aspects of our Fundraising.

Our fundraisers

Each Apostolic Work of the Province holds responsibility for its fundraising; this is supported by the Province Treasurer and Fundraising manager. Regular meetings with Works have ensured that best practice is shared. A ‘fundraising day’ was held in June to exchange fundraising experience and provide mutual support across the Province.

Our approach to fundraising

For many of our supporters their generosity is a reflection of their faith that has developed over their lifetime. Our fundraising is undertaken by our own staff using direct mail, trust fundraising, legacy appeals and events. Because of this lifelong relationship we are particularly sensitive to vulnerable supporters and ensure our fundraising practise reflects the guidance of the Code of Fundraising. During the year, fundraising staff were recruited directly at various Works, supported by the Province’s fundraising director.

Regulation and data protection

During the year, no fundraising complaints were received. We are a member of the Fundraising Regulator and abide by its code of fundraising practice. Data protection training was held during the year; gift aid and data audits were undertaken to ensure compliance and security of data.

Fundraising in the future

The ongoing cost of living crisis, inflation and recession across Europe mean that fundraising in 2025 will be challenging for many charities. We greatly value those who through their generosity partner with us to ensure our mission continues to reach many people. In

the coming year our fundraising plans include:

The Jesuit Archives

The British Jesuit Archives collects, preserves, and makes available records concerning the British Province of the Society of Jesus. In the year to September 2024, there were 113 visitors to the Archives (54 individual researchers) and 249 remote enquir i es were responded to. Full figures for 2025 will be available next year.

The Archives also accommodated several work experience placements, including Sixth Form students, and benefited from volunteers during the year enabling these individuals to gain experience of working in an archive.

Reserves Policy

The level of reserves held is a matter for trustees, who review the reserves from time to time with a view to using surplus funds in accordance with the Trust deed, while also recognising the need to hold reserves in order to underwrite their day-to-day activities. Trustees also take into consideration a number of other factors, namely the reliability of the Charity’s income, flexibility of costs in terms of whether they are fixed or variable, availability of cash, the requirements to invest in order to deliver its objectives and also the level of reserves in its various designated funds. The trustees’ policy is to aim to hold a minimum of 6 months’ worth of premises costs and 3 months’ worth of administration and other support costs, which for the

28 Jesuits Annual Report – 18 months to 31 March 2025

period ended 31 March 2025 equated to £6.3m (2022-2023: £4.9m). General funds at £7.7m at 31 March 2025 are therefore slightly above the target level. The charity will continue to monitor reserves over time.

Grant-making Policy

Funds are used principally to support work closely aligned with the work of the Society of Jesus, using its various designated funds to support, for example, the work of the Guyana Region, along with Jesuit Works within the Southern Africa Province. This Province includes South Africa and Zimbabwe, both former regions of the British Province and where strong historical links remain. Grants are also made in support of those training for the Catholic priesthood in England & Wales, and Scotland, as well as to the Dominican Studium in Oxford.

Trustees do not consider applications from the general public. A number of minor grants are, however, made to organisations and individuals whose work is aligned with that of the Jesuits in Britain through the Fund for Social Justice.

Investment Policy

The Trust’s investment portfolio is overseen by an Investment Committee. Currently, the portfolio consists of listed investments, cash deposits and investment properties. The Investment Committee reviews the strategic allocation on a regular basis. Such a review took place in 2023-2025, and a revised investment policy statement is being drafted. However, major changes to asset allocation are not anticipated.

The equity portfolio is divided between three main managers. Within specified guidelines, the investment managers’ objectives are to maximise total return, whilst providing a level of income advised by the trustees each year. The performance of each manager is reviewed on at least a quarterly basis and changes to individual managers are made from time to time, the last time being in 2021. As at 31 March 2025, the total market value of our investments was £683.9m (31 September 2023: £613.7m).

(Ethical) Responsible

Investment Policy

Our policy provides a set of principles, looking forward to the type of world which we want to promote, intentionally investing in companies and sectors that promote the values of Catholic Social Teaching and that earn a just and sufficient return to help fund our work. In particular, we seek to: assist the poorest improve their lives and attend to those in need; show concern for human life in all its stages; care for our common home, as invoked by Pope Francis’ Encyclical Letter, Laudato Si’, May 2015; support good environmental, social and governance (‘ESG’) practice to be followed by our investment managers; ensure we promote positive impact by our investments; and be aware of any harm caused by the same, with a view to its elimination.

We do not invest in companies whose products or policies are counter to the values of Catholic moral teaching. Our investment managers screen our portfolios (using agencies such as MSCI) to eliminate such stocks. Our equities are all held directly, and not through funds, meaning that we retain control over all holdings.

The charity divested from fossil fuels in 2020; that is to say from all the major energy companies that extract or refine oil, gas and coal. This decision fits with what Pope Francis referred to in his encyclical Laudato Si’ when he wrote “We know that technology based on the use of highly polluting fossil fuels – especially coal, but also oil and, to a lesser degree, gas – needs to be progressively replaced without delay.”

It is clear that the continued use of fossil fuels has been badly damaging the planet through the emissions they produce. With the likelihood of restrictions on use, the reserves of these fuels are likely to become ‘stranded assets’; assets in danger of being regulated as unusable and therefore valueless. The case for divestment makes good economic as well as ecological sense!

Such divestment is part of a process of decarbonisation of our investment portfolios, along with our Jesuit Works and all the properties. In 2021-22, we

completed the process of measuring the carbon footprint of our entire operation, including all functional buildings, investment properties and equity portfolios. Through a recentlyestablished Decarbonisation Forum, supported by a Decarbonisation Committee, plans have been developed to reduce the carbon footprint of our properties (including through the installation of solar panels, more efficient heating systems and other capital works), and of our investment portfolio through engagement with our investment managers.

We are looking to continue improving the standard of reporting on ESG issues by our three main equity managers, helped by the SFDR and FCA directives in Europe and the UK. As part of the ‘Social’ in ESG, we have signed up to CCLA’s mental health benchmark, which aims at transparency on this topic. We also follow their modern-day slavery campaigns called ‘Find it, Fix it, Prevent it’.

There are several other issues on which we expect our asset managers to engage companies, such as paying the living wage, reviewing executive pay and monitoring diversity on their governing boards with voting at AGMs according to our principles. As trusts like ours are limited in the capacity and expertise to follow up fully on all these matters, we work within like-minded networks such as the Church Investors Group, the Association of Provincial Bursars and ShareAction’s Charities Responsible Investment Network. We are concerned to work with and facilitate other likeminded bodies in the Church. We have participated in conferences to engage with and implement ‘Mensuram Bonam’, a publication from the Pontifical Academy of Social Sciences, which seeks to apply Catholic principles to investment.

Basis for Accounts Preparation

The financial statements have been prepared based on the accounting policies set out after the financial statements and comply with the Charity’s Trust deeds, applicable law and the requirements of the Statement of Recommended Practice (SORP FRS 102).

jesuit.org.uk 29

How we manage our affairs

The Board of Trustees

The Declaration of Trust dated 20 March 1929 provides that new trustees shall be appointed by resolution of the existing trustees. The trustees are incorporated under the Charities Act 2011 as ‘Trustees for Roman Catholic Purposes Registered’ (TRCPR).

As members of the Society, the trustees’ living and personal expenses during the year are borne by the Trust. Trustees receive no remuneration for services as trustees.

The trustees met formally eleven times during the period.

Trustees are chosen from members of the Society for their experience of the various Works of the Trust, as described in this report. Given their considerable knowledge of these Works, their induction focuses on the more technical responsibilities of trustees. This is achieved primarily by mentoring within the group, with sessions occasionally given over to discussion of a particular aspect of trustee responsibility, e.g. the Objects of the Trust. Use is made also of external seminars for ongoing training. The rotation of appointments is made so as to ensure a continuing body of experience within the group as a whole.

Organisational Structure

The overall responsibility for activities of the Jesuits in Britain (the British Province of the Society of Jesus) lies with the Provincial Superior, who is assisted by his Socius and by the Treasurer, and other central office staff. The Provincial meets with a group of Consultors monthly. Each Jesuit community is guided by a local Superior who has responsibility for the activities of the Province in that locality.

Particular Works (schools, retreat centres, etc.) may be the responsibility of a ‘Director of Work’ appointed by the Provincial or by a local governing body acting on the Provincial’s behalf. It is normal for the Provincial to visit all Jesuit communities and Works each year.

Constitution

The Jesuits in Britain are governed by the constitutions of the Society of Jesus and regulated by Canon law. The assets of the Jesuits in Britain are held in the following charitable trusts:

The Society of Jesus Trust of 1929 for Roman Catholic Purposes has been given charitable status by the Office of the Scottish Charity Regulator (OSCR) under Charity number SC040490.

The charities are treated as a single charity for accounting purposes (under Charity Registration number 230165), in accordance with uniting directions issued by the Charity Commission.

The Young Priests’ Fund exists to encourage and support candidates for the priesthood.

The Beaumont Educational Trust is a small fund generating bursaries to be applied in promoting the education of boys and young men in need of financial assistance in accordance with the doctrines of the Roman Catholic Church. Preference is given to those who can claim a connection with the former Beaumont College, Old Windsor. Its trustees are the same as those of the Trust and the two charities are treated as a single charity for accounting purposes.

The von Hügel Charity is connected with Corpus Christi Church in Boscombe. This charity is for the promotion, advancement or support of charitable work or works, at the absolute discretion of the charity’s trustees, in the beneficial area (namely the Roman Catholic parishes of Boscombe and Ilford). Trusteeship of the von Hügel Charity was transferred to the Diocese of Portsmouth during the period, at the same time as the freehold of Corpus Christi Church was transferred.

Connected Charities

Mary Patricia O’Halloran Charity (Charity Registration number 509563) This is a charity set up on the death of Mary Patricia O’Halloran, originally to benefit the poor of the Holy Name Parish in Manchester, but subsequently widened to serve the poor of the city of Manchester. Trustees for Roman Catholic Purposes Registered

30 Jesuits Annual Report – 18 months to 31 March 2025

HOW WE MANAGE OUR AFFAIRS

are the Corporate Trustee for this charity, on the basis that the Society owns and uses Holy Name Church. Approval was given on the understanding that the funds would be kept separate and the charity has not been consolidated into these accounts.

Heythrop Institute

(Charity Registration number 312923) The Heythrop Institute, formerly known as Heythrop College, operated as the specialist Philosophy and Theology College of the University of London from 1970 until its closure at the end of January 2019. The Society of Jesus, which originally founded the College before setting it up as an individual charity in 1970, has taken back control of the charity through appointment of its trustees. A change to the Royal Charter was granted by the Privy Council in February 2020, along with a change in name to the Heythrop Institute. These may allow the charity to operate again in some limited form. The charity has not been consolidated into these accounts.

Jesuits in Britain CIO

(Charity Registration number 1207742)

The Jesuits in Britain CIO was incorporated in April 2024 as the successor charity to the various Society of Jesus trusts mentioned above. On 1 April 2025 (immediately following the balance sheet date of these financial statements) the assets and liabilities of the trusts mentioned above transferred into the Jesuits in Britain CIO, with the exception of St John’s Beaumont school (held pending sale as at the balance sheet date; this sale completed in July 2025), and some limited other assets of negligible value. The expectation is that the previous trusts will, in due course,

be wound up, with the Charity Commission’s register of mergers reflecting that the Jesuits in Britain CIO is the successor charity.

Committee Structure

Five main committees are appointed by the trustees to assist in their work.

Investment Committee

The principal role of the Investment Committee is to give advice on the management of and review the performance of the investment portfolios, while upholding the ethical restrictions on our investments.

The Investment Committee meets on a regular basis as need dictates, but at least four times a year. At each of the scheduled quarterly meetings, one of its investment managers gives a presentation reviewing the performance of each portfolio over the previous 12 months, to discuss economic prospects for the forthcoming year and to answer questions. Additional informal meetings are also arranged usually at the offices of the main investment managers for a more in-depth review of the managers’ performance and to meet more of the teams. A fifth meeting of the whole Committee along with an extended membership (considered to be a sub-Committee) also normally takes place to review our responsible investment policy.

Its current members are:

Mr Thomas Acland Mr Ben Andradi Ms Margaret Coughtrie Fr Keith McMillan SJ (Chair) Fr Christopher Pedley SJ Br Stephen Power SJ Mr Pawel Rzemieniecki

Mr Ben Andradi joined the committee during the period.

Messrs. Stephen Withnell and Richard Saunders retired from the Committee during the period. Ms Sarah Heffron Nichomoff retired shortly after the period

Additional members, who join for the review of its responsible investment policy are:

Fr Nick Austin SJ Mr Paul Chitnis Br Geoff te Braake SJ Fr Frank Turner SJ

Finance Committee

The principal role of the Finance Committee is to consider operational financial matters, including accounting, banking, insurance, property, HR and other resourcing issues.

Its current members are:

Mr Thomas Acland

Fr Peter Gallagher SJ (Chair) Mrs Joan Lim Fr Keith McMillan SJ Fr Paul Nicholson SJ Fr Christopher Pedley SJ Br Geoff te Braake SJ

Mr Thomas Acland replaced Mr Timothy Edwards as Finance Director (ex-officio on the Committee) at the start of the 2023-2025 financial period.

Trustee Safeguarding Commission (TSC)

The TSC is established to assist the Trustees to execute their safeguarding obligations in compliance with the requirement of the Charity Commissions of England & Wales and Scotland, The Catholic Safeguarding Standards Agency in England and Wales and the Catholic Bishops of Scotland and relevant national statutory bodies. It works to the CSSA framework of Eight Standards.

jesuit.org.uk 31

HOW WE MANAGE OUR AFFAIRS

The members of the TSC who served in 2023-2025 are:

Mr James Reilly, Chair - Background: Leadership in Social Services, health and charities. Ms Fiona Bateman

The Jesuit Provincial Superior, Fr Peter Gallagher SJ, was in attendance for part or all of TSC meetings.

The TSC is supported by the Province’s professional safeguarding employees: Mrs. Julie Ashby-Ellis, Safeguarding and Personal Conduct Manager and Mrs. Nadra Gadeed, Safeguarding Support Advisor. Both have extensive experience of safeguarding work with professional backgrounds in nursing and clinical psychology. Ms. Karoline WilhelmBrown and Ms. Angie Palmer provide administrative support to the team.

The TSC met eight times during the period. At every meeting of the TSC it has received reports relating to actions in response to allegations; work with victim/ survivors; safeguarding management plans; training; DBS/PVG checks and further updates from the Safeguarding staff and Chair briefing the TSC on national and international developments and on progress with a variety of projects and tasks. A summary of the topics which the TSC has deliberated upon in the course of its meetings

over this period include: drafts of the updated Safeguarding Policy; CSSA contract and proposed Audit framework and production of new complaints policy; revised training arrangements with RLSS; completion of the CPOMS electronic records project; review of the safeguarding risk register.

Following the widely-publicised investigation into and subsequent expulsion from the Jesuits of Fr Marko Rupnik, and the publication of a report into the spiritual abuse perpetrated by Jean Vanier (the founder of L’Arche), the TSC produced a paper on spiritual abuse, including a definition with guidance and case examples to inform discussion. This was completed in 2024 and shared with other Jesuit provinces internationally.

During this reporting period, 13 individuals came forward with allegations of abuse: five of sexual abuse; four boundary violations and four of inappropriate conduct. Seven relate to historical abuse and six to recent abuse. These allegations involve seven individuals four of whom have died and three are living. Four of these individuals had been identified previously in past allegations but three were identified for the first time. One was not a Jesuit and the alleged abuse took place outside Jesuit institutions. Two were overseas Jesuits. During the period, five Jesuits were subject to safety management plans, generally while investigations were carried out. At the end of March 2025, no Jesuits were still subject to such plans.

Health and Safety Committee

An internal committee, consisting of Jesuits and staff members has been formed to provide a forum for consultation and discussion of fire and health and safety matters within the Charity. One of the aims of the committee is to promote a culture

of awareness of health and safety and of continuing improvement.

Its current members are:

Mr Thomas Acland Br Geoff te Braake SJ Mr Carlo Fernando Fr Keith McMillan SJ (Chair) Ms Brenda Micallef Dr Timothy Myatt Br Ken Vance SJ

Mr Carlo Fernando joined the Committee during the year, representing the London Jesuit Centre. The meetings are also usually attended by representatives of PIB Risk Management.

Risk Advisory Committee

The principal roles of the Risk Advisory Committee are to keep the trustees, who retain overall responsibility for risk management, informed of their understanding of the major risks facing the Charity and the adequacy of their response to those risks. As part of this they will make various recommendations concerning the risk register.

Its current members are:

Mr Thomas Acland Mr Anthony Carey Fr Kensy Joseph SJ Ms Rosanne Kay Fr Keith McMillan SJ (Chair) Br Stephen Power SJ Mr Craig Walton

Risk Management

The trustees face numerous risks, both on a day-to-day basis and over the longer term. These risks relate to an uncertain event or set of events which, should it or they occur, would have an effect on the achievement of the Charity’s objectives. Risk not only refers to threats (i.e. damaging events which could lead to failure to achieve objectives and potentially have negative impacts), but also

32 Jesuits Annual Report – 18 months to 31 March 2025

HOW WE MANAGE OUR AFFAIRS

to opportunities (i.e. challenges, which, if exploited, could offer an improved way of achieving the desired objectives). Risk exists as a consequence of uncertainty and is present in all activities whatever the size or complexity of the organisation and whichever sector it operates in.

Trustees consider risk management to be fundamental to good management practice and a significant aspect of corporate governance. Effective management of risk will provide an essential contribution towards the achievement of the Charity’s strategic and operational objectives and goals.

As such, the trustees have adopted a risk policy that requires, among other things, the trustees to review at least annually the principal risks and uncertainties it considers the Charity to be exposed to. The identified risks are grouped into a number of categories including governance or management, operational, financial, environmental and external factors or legal and regulatory compliance. Each risk is assessed as to its impact and probability of occurring and given a score, which when combined is compared against a traffic light system with efforts being concentrated on any that show up as ‘red’. The review of risks includes ensuring that procedures are in place and are being followed, putting in place a consistent basis of measuring, controlling, monitoring and reporting risk, ensuring the effectiveness of the procedures and considering an adequate response (including action to be taken to tackle the identified risks).The aim is not to eliminate risk altogether, but rather to ensure that every effort is made to manage risk appropriately.

The Charity has identified the following as significant risks during the period:

• Effective governance and leadership of the Charity, which combines a religious order with various charitable aims, increasingly carried out by lay staff members, necessitated by the falling numbers of Jesuits and ageing of existing Jesuits. The new governance structure (a Charitable Incorporated Organisation (CIO)) will allow the appointment of lay trustees enabling the injection of additional advice and expertise. Immediately following this annual report, all assets, liabilities and operations pass to the new legal entity (with some very limited exceptions). A key risk for the charity during the period has therefore been the preparation for this transfer, and the need to ensure seamless operations and minimal disruption to Works. At the time of publication, the transition had gone smoothly, with no significant issues. However, the “bedding in” of new ways of working (including committees with delegated authority) and the implementation of a new accounting system remain live risks.

properly applied to fees for St John’s Beaumont (sold by the Charity after year end) and Donhead. The issues facing the education sector remain a risk for Donhead, and for the three locally-established trusts (Stonyhurst, St Aloysius’ Glasgow and Mount St Mary’s) with which the charity has financial ties (most notably in the form of loans made from the charity). Mount St Mary’s was in default of its loan agreement for much of the period and – in August 2025, after period end – went into administration. This process represents an ongoing risk for the Charity (and its successor, the Jesuits in Britain CIO), but the loan has not been impaired in these accounts given the value of the property on which it is secured.

jesuit.org.uk 33

HOW WE MANAGE OUR AFFAIRS

Equal Opportunities

The Charity considers itself to be an equal opportunity employer and respects the provisions against discrimination laid down by law and in the Catechism of the Catholic Church. As such, it is committed to a policy of treating all of our employees and job applicants equally. No person will be discriminated against and we will take all reasonable steps to employ and promote employees on the basis of their abilities and qualifications without regard to age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race (including colour, nationality and ethnic or national origins), religion or belief, sex and/ or sexual orientation, allowing for what is justified by law or by the practices, rites, doctrines or ethos of the Roman Catholic Church.

In particular, the Jesuits in Britain avoid unlawful discrimination in all aspects of employment including recruitment and selection, promotion, transfer, opportunities for training, pay and benefits, other terms of employment, discipline, and selection for redundancy and dismissal.

Gender Pay

As a large charity, the Jesuits in Britain is required to publish information each year, comparing what it pays to its male employees and its female employees. April 2024 data showed that the average pay for men was £22.87 per hour compared to the average pay for women which was £21.01 per hour, a differential of 8.1 % in favour of men. This compares to the previous year when the average male salary was higher by some 10.4 %.

There are flaws in this measure given that the data is not on a job like-for-like basis. In April 2024, there were 370 employees,

of whom 104 were male (28%) and 266 were female (72%). This compares to 356 employees in April 2023, of whom 105 (29%) were men and 251 (71%) were women. The data remains skewed, although not as great as in previous years. For both of these reasons, the data is arguably of questionable benefit and quality. Nevertheless, it is an indicator and one that the Charity is keeping under review; action will be taken if considered necessary or desirable.

To attempt to put the above in context, our gender pay gap is 8.1 %; the gap generally for larger charities is 6.3% (for 2024and as per a Civil Society report). The other main finding when we carried out this exercise for our charity was that the middle-placed (median) man is paid £19.16 per hour, some 5.8% more than the middle-placed woman, who was paid £18.05.

Other Pay

The Charity is an accredited Living Wage Foundation employer. The Living Wage campaign is based on the simple idea that a hard day’s work deserves a fair day’s pay. We are pleased to be one of many responsible employers who choose to pay a real Living Wage based on the cost of living, not just the socalled government National Living Wage minimum, which is set at a lower amount. The London Living Wage Foundation rate at the end of the financial period was £13.85 per hour compared to the government minimum of £12.21, a difference in rate of £1.64 per hour, or over 13 % above the government minimum. The trustees recognise that in low paid sectors, a vicious cycle of high levels of staff turnover and absenteeism can drive problems of operational inefficiency, low standards and weak productivity. Organisations that pay the Living Wage have reported significant

improvements in quality of work, reductions in staff absence and turnover, improved relationships between managers and their staff, and a stronger corporate reputation.

We continue to monitor the ratio between the highest paid employee and our lowest paid employee. This seems to be about 5.5:1, which compares favourably with other organisations. According to a study carried out by the abrdn Financial Fairness Trust the median CEO/ lower quartile employee pay ratio for the FTSE 350 in 2023/24 was 71:1. In the FTSE 100, the median CEO/ lower quartile employee ratio was 106:1.

Key Personnel and Senior Staff

The Charity offers fair pay to attract and keep appropriately qualified and experienced staff with the necessary skills required to lead, manage, support and deliver the Charity’s aims. Key personnel are appointed as Directors of Work for a number of our Works, including the Heads of the two Preparatory schools, Donhead and St John’s Beaumont, our Spirituality Centres, Jesuit Missions, the Jesuit Refugee Service and the Laudato Si’ Research Institute, Campion Hall, along with the Director of Finance and the Fundraising Manager & Data Protection Officer. The total remuneration, including all employer-related costs of the eleven individuals involved, including Jesuits was £1,251k for the 18 months ended 31 March 2025 (12 months to September 2023: £851k).

34 Jesuits Annual Report – 18 months to 31 March 2025

HOW WE MANAGE OUR AFFAIRS

Public Benefit

Public benefit is achieved in a variety of ways, as can be seen in earlier reports. This includes, but is not limited to, the following:

We have developed our plans to ensure that we continue to deliver public benefit and achieve our objectives set out in the Deeds and Declarations of Trust (listed above in Organisational Structure – Constitution). The trustees confirm that they have complied with the duty of the Charities Act 2011 and the Charities Act Scotland 2005 to have due regard to the Charity Commission’s and OSCR’s general guidance on public benefit.

Volunteers

The work of the Jesuits in Britain would not be possible without the contribution of volunteers. Several of our Works have management boards or editorial boards comprising expert lay people, who give their time to advise and support our Jesuit and lay staff at regular meetings throughout the year. Our Investment Committee, Safeguarding Commission and Risk Advisory Committee have all recruited expert members who also generously give their time to support our mission.

The role of volunteers is especially important in two of our main Works, namely the Jesuit Refugee Service and Jesuit Missions. Their contribution is highlighted elsewhere in this report. Other Jesuit Works, too, benefit from volunteer time, including, for example, our Archives Department.

Our parishes too rely heavily on volunteers to assist in many ways, from serving and reading at Mass to fundraising, finance and committees. Larger parishes have around 200 volunteers, smaller ones around 25.

The work carried out across the Charity also includes the efforts of the 100 or so Jesuits, although some are no longer in active ministry. Nevertheless, they continue to pray for the work of the Society. The Jesuits themselves take a vow of poverty so they personally take no salaries, royalties, fees or any other remuneration. Jesuits work as parish priests, chaplains, teachers, academics, writers, doctors, spiritual directors and artists. Any remuneration received is Gift Aided to the Charity to further the work it does. Members receive in return only enough to live on and are looked after when they become sick, elderly or infirm. The value of work done on behalf of the Charity is considerable and might be estimated at about £5 m in any “normal” year. The value of the work of others (i.e. non-Jesuit volunteers) is also significant with many working in the service of their parishes, the work of the Jesuit Refugee Service, as members of Management Boards and various committees, etc. A conservative estimate of this would be £0.5m to make a total of £5.5m. If included in the accounts, this would add approximately 20% to the total income of the charity.

Statement of the Trustees’ Responsibilities

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

The law applicable to charities in England, Wales and in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the trustees are required to:

Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102);

The trustees are responsible for keeping proper accounting records that 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, applicable Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, and the provisions of the Charity’s trust deeds. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

Signed for and on behalf of Trustees for Roman Catholic Purposes Registered

36 Jesuits Annual Report – 18 months to 31 March 2025

INDEPENDENT AUDITOR’S REPORT

Independent auditor’s report to the Trustees of The Society of Jesus Trust of 1929 for Roman Catholic Purposes (incorporating The Society of Jesus Trust of 1921, The Society of Jesus Charitable Trust, the Young Priests’ Fund, Beaumont Educational Trust and the von Hügel Charity)

Opinion

We have audited the accounts of the Society of Jesus Trust of 1929 for Roman Catholic Purposes (incorporating The Society of Jesus Trust of 1921, The Society of Jesus Charitable Trust, The Young Priests’ Fund, Beaumont Educational Trust and the von Hugel Charity) (collectively referred to as ‘the Charity’) for the eighteen-month period ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, 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:

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 accounts 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.

Emphasis of matter – Accounts prepared on a basis other than going concern

We draw attention to the principal accounting polices on pag e 43, which state that the trustees of the Society of Jesus Trust of 1929 for Roman Catholic Purposes have prepared the accounts on a basis other than going concern. This is due to the trustees’ decision to transfer all the activities, assets and liabilities of the unincorporated charity to a newly formed Charitable Incorporated Organisation on 1 April 2025. We consider that no adjustment to the book value of assets or liabilities is required as a result of this basis of preparation. Our opinion is not modified in respect of this matter.

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

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 course of 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 themselves. 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

jesuit.org.uk 37

INDEPENDENT AUDITOR’S REPORT

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 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the accounts

As explained more fully in the trustees’ responsibilities statement, 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.

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with those Acts 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.

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:

• we obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities

Accounts (Scotland) Regulations 2006 and those that relate to data protection (General Data Protection Regulation), education legislation (including the Children’s Act) and safeguarding regulations;

We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur. Audit procedures performed by the engagement team included:

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

38 Jesuits Annual Report – 18 months to 31 March 2025

INDEPENDENT AUDITOR’S REPORT

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

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.

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. 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

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

30 December 2025

jesuit.org.uk 39

FINANCIAL STATEMENTS

Financial statements

----- Start of picture text -----
Statement of financial activities - 18 months to 31 March 2025
incorporating an income and expenditure account
Unrestricted Restricted
f unds f unds Total Total
2025 2025 2025 2023
Note £’000 £’000 £’000 £’000
Income from:
Donations and legacies 1 6,126 1,677 7,803 5,711
Charitable activities:
School fees and related income 2 16,736 (43) 16,693 9,587
Other trading activities:
Trading income 3 191 - 191 118
Other activities for generating funds 4 379 - 379 211
Investments 5 16,491 2,361 18,852 11,651
Other 6 4,986 - 4,986 681
Total income 44,909 3,995 48,904 27,959
Expenditure on:
Raising funds 7 5,808 39 5,847 3,392
Charitable activities: 8
Parish ministry 2,080 - 2,080 1,666
Education 24,203 611 24,814 16,022
Formation 5,948 3,117 9,065 5,103
Social justice and the relief of poverty 3,227 3 3,230 1,965
Care of infirm and elderly members 6,263 - 6,263 3,741
Spirituality 5,822 37 5,859 3,397
Work worldwide 5,797 1,864 7,661 5,484
Total expenditure 59,148 5,671 64,819 40,770
Net (expenditure) before gains on investments (14,239) (1,676) (15,915) (12,811)
Net gains on investments 13 77,923 8,768 86,691 40,449
Net income 63,684 7,092 70,776 27,638
Transfers between funds 18, 19 - - - -
Net movement in funds 63,684 7,092 70,776 27,638
Reconciliation of funds:
Total funds brought forward 632,749 80,459 713,208 685,570
Total funds carried forward 696,433 87,551 783,984 713,208
The accompanying notes form part of these accounts.
Details of comparative figures by fund are disclosed in note 28 . All of the Charity’s activities derived from
continuing operations during the above two financial perio ds; the Charity transferred its operations to a new legal
entity (Jesuits in Britain CIO) on 1 April 2025. All recognised gains an d losses are included in the above statement
----- End of picture text -----

continuing operations during the above two financial perio ds; the Charity transferred its operations to a new legal entity (Jesuits in Britain CIO) on 1 April 2025. All recognised gains an d losses are included in the above statement of financial activities.

40 Jesuits Annual Report – 18 months to 31 March 2025

FINANCIAL STATEMENTS

Balance Sheet - as at 31 March 2025 Balance Sheet - as at 31 March 2025 Balance Sheet - as at 31 March 2025 Balance Sheet - as at 31 March 2025 Balance Sheet - as at 31 March 2025 Balance Sheet - as at 31 March 2025
Note 2025
£’000		 2025
£’000		 2023
£’000		 2023
£’000
Fixed assets:
Tangible assets 11 79,598 79,177
Investments 13 683,903 613,739
Total fxed assets 763,501 692,916
Current assets:
Stocks 17 28
Debtors:
Amounts falling due after more than one year 14 4,301 6,483
Amounts falling due within one year 14 1,615 1,907
5,916 8,390
Short-term deposits 15 26,398 23,516
Cash at bank and in hand 10,460 13,356
Total current assets 42,791 45,290
Liabilities:
Creditors: Amounts falling due within one year 16 (18,986) (23,666)
Net current assets 23,805 21,624
Total assets less current liabilities 787,306 714,540
Creditors: Amounts falling due after more than one year 17 (3,322) (1,332)
Total net assets 783,984 713,208
Funds of the Charity:
Restricted funds 18 87,551 80,459
Unrestricted funds:
General fund 7,676 4,855
Designated funds 19 688,757 627,894
Total unrestricted funds 696,433 632,749
Total Charity funds 783,984 713,208
The Charitytransferred its operations to a new legal entity (Jesuits in Britain CIO)on 1 April 2025.
~~Approved by and authorised for issue and signed o~~ ~~n behalf~~ ~~of Trustees fo~~ ~~r Roman Cath~~ ~~olic Purposes~~ ~~Registered:~~
K.P.McMillan SJ
Trustee
~~Approved on 30 December 2025~~
The accompanyingnotes formpart of these accounts.

jesuit.org.uk 41

FINANCIAL STATEMENTS

----- Start of picture text -----
Cash Flow Statement - 18 months to 31 March 2025
2025 2023
Note £’000 £’000
Cash flows from operating activities:
Net cash used in operating activities A (31,774) (21,440)
Cash flows from investing activities:
Investment income received 18,852 11,651
Payments to acquire tangible fixed assets (3,626) (2,585)
Payments to acquire fixed asset investments (171,97 6 ) (115,914)
Receipts from the disposal of fixed asset investments 187,1 53 115,205
Net other movement on investments (1,051) 363
Net cash provided by investing activities 29,352 8,720
Increase (Decrease) in cash and cash equivalents (2,422) (12,720)
Cash and cash equivalents at start of period B 43,919 56,639
Cash and cash equivalents at end of period B 41,497 43,919
A Reconciliation of net income to net cash outflow from 2025 2023
operating activities £’000 £’000
Net income for the reporting period 70,776 27,638
Adjustments for:
Depreciation charge 3,198 2,178
Investment income receivable (18,852) (11,651)
Net (gains) on investments (86,691) (40,449)
D ecrease /(increase) in stocks 11 (5)
Decrease/(increase) in debtors 2,474 (2,258)
(Decrease)/ Increase in creditors (2,690) 3,107
Net cash (used in) operating activities (31,774) (21,440)
----- End of picture text -----

----- Start of picture text -----
B Analysis of changes in net debt At 1 Oct At 31 March
2023 Cash f low 2025
£’000 £’000 £’000
Cash at bank and in hand 13,356 (2,896) 10,460
Cash held with investment managers 10,295 (1,331) 8,964
Short-term deposits 20,268 1,805 2 2,073
43,919 (2,422) 4 1 , 497
----- End of picture text -----

No long-term debt is held by the Charity.

42 Jesuits Annual Report – 18 months to 31 March 2025

ACCOUNTING POLICIES

Principal accounting policies

Basis of preparation

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charity SORP FRS 102) – 2nd edition effective 1 January 2019. The Charity constitutes a public benefit entity as defined by FRS 102.

The functional currency of the Charity is considered to be Pounds Sterling (GBP), being the currency of the primary economic environment in which the Charity operates. The numbers are rounded to the nearest thousand pounds. Owing to the planned transfer of operations to the Jesuits in Britain CIO (1 April 2025), these accounts have been prepared for an 18-month period. The comparative figures (for 12 months) may not therefore be entirely comparable.

Basis of consolidation

Group accounts have not been prepared in respect of t he results of the Charity’s trading subsidiary, as the subsidiary is immaterial in the view of the truste es.

Going concern

The trustees have formed a Charitable Incorporated Organisation (CIO) and the assets, liabilities and activities of the Trust have been transferred to the newly formed CIO as of 1 April 2025. As a result, these accounts have been prepared on a basis other than going concern. This does not result in adjustments to the reported figures. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of its successor to continue as a going concern. The trustees are of the opinion that its successor will have sufficient resources to meet its liabilities as they fall due.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

Judgements made by the Trustees in the application of these principal accounting policies that have a significant effect on the financial statements and estimates with a significant risk of material adjustment in the next period are deemed to be in relation to the following:

In the view of the Trustees, no

assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial period .

Scope

The accounts generally do not include the operating accounts of parish churches in the charge of the Society of Jesus as these are deemed to be managed as part of the relevant Diocesan charity.

In the same way, the operating accounts of voluntary - aided schools do not form part of these accounts. However, the Trustees are the legal owners of land and buildings used exclusively by such schools and, therefore, these assets are reflected within the Charity’s accounts.

Financial information for Donhead and St John’s Beaumont schools has been consolidated for the period 1 September 2023 to 31 March 2025. This different start date reflects the academic year; its effect is deemed to be immaterial to the Charity’s accounts.

Income

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 and legacies, income from charitable activities, income from trading activities, investment income and interest receivable, and other income.

jesuit.org.uk 43

ACCOUNTING POLICIES

Donations, including salaries and pensions of individual religious received under 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.

Performance related grants receivable are recognised when the Charity has confirmation of both the amount and the settlement date and are credited to the statement of financial activities based on level of performance achieved.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

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.

Investment income from listed

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

Investment income from property rental is recognised once the rent is payable under the relevant lease or tenancy agreement less any provision necessary for doubtful recovery.

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.

Income derived from school fees and other educational charges is measured at the fair value of the consideration receivable and is stated net of bursaries and scholarships.

Any surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proceeds net of sale costs and the net book value of the asset immediately prior to disposal. It is accounted for once legal completion of the disposal has taken place.

All other income is measured at fair value and accounted for on an accruals basis.

Expenditure

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.

Expenditure comprises the following:

and projects 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 grant and has satisfied all related conditions. Grants approved but not paid at the end of the financial period are accrued for. Grants where the beneficiary has not been informed or has to meet certain conditions before the grant is released are not accrued for but are noted as financial commitments in the notes to the accounts.

Support costs (including governance costs) are apportioned based on the proportion of direct costs for each category.

Governance costs comprise expenditure that is directly attributable to the necessary procedures for compliance with constitutional and statutory requirements.

Employee benefits

Short-term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits are accounted for on an accrual basis and in line with FRS 102.

Foreign currencies

Monetary 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.

Tangible fixed assets (other than Churches and schools)

All assets costing more than £10,000 and with an expected life exceeding one year are capitalised.

44 Jesuits Annual Report – 18 months to 31 March 2025

ACCOUNTING POLICIES

equipment are stated at cost less a provision for depreciation. Depreciation is provided on cost over the following periods in order to write off each asset over its estimated useful life:

Equipment 4 years straight line Vehicles 4 years straight line Assets in the course of construction are not depreciated until the asset is brought into its intended use.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the current value of any fixed asset may not be recoverable. Shortfalls between the current value of fixed assets and their recoverable amounts are recognised as impa i rments. Impairment charges are recognised in the Statement of Financial Activities.

Churches and schools

The churches have belonged to the Charity for many years and details of their original cost are not available. All are functioning churches, and as such are neither readily marketable nor can be reliably valued. They are excluded from the balance sheet, as permitted by Charity SORP.

Historical assets

The Charity also holds works of art, book collections, and religious artefacts that currently serve, and are intrinsic to, the work of the Charity, but which have been excluded from the balance sheet. A market valuation for such assets is uncertain and, in any case, available only at an expense that appears to the Trustees to be out of proportion to any enhancement of the disclosure properly required in these accounts.

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 quoted bid price.

One of the main forms 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.

Investment properties are included in the accounts at their fair value which is deemed to equate to their open market value. Investment properties are revalued at an open market value each period end by chartered surveyors.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial period . Unrealised gains and losses are calculated as the difference between the fair value at the period 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 period in which they arise.

Stock

Stock is measured at the lower of cost and

net realisable value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. They have been discounted to the present value of the future cash receipts where the e ffect of discounting is material.

Short-term deposits

Short-term deposits are cash-based assets that are not immediately liquid, but require at least one day’s notice to be withdrawn without penalty.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments.

Cash placed on deposit for a period of more than one day but less than one year is classified as a short-term deposit. Cash placed on deposit for a period exceeding one year is classified as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. They have been discounted to the present value of the future cash payments where the e ffect of discounting is material.

Pension costs

Contributions to employees’ personal pension defined contribution schemes are

recognised in the statement of financial activities in the period in which they are payable to the scheme.

St John’s Beaumont School makes contributions to the Teachers’ Pension Scheme, which is a defined benefit scheme. The scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the Charity.

Therefore, the Teachers’ Pensions Scheme is treated as a defined contribution scheme for accounting purposes and the employer contributions are recognised as expenditure in the period to which they relate.

Fund accounting

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

The designated funds are monies set aside out of general funds and designated for specific purposes by the Trustees.

The general fund comprises those monies that may be used towards meeting the charitable objectives of the Society at the discretion of the Trustees.

Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments that are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

Operating leases

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

Services provided by members of the Order

For the purpose of these accounts, no monetary value has been placed on the administrative and other services provided to the Charity by the members of the Order.

jesuit.org.uk 45

NOTES TO THE ACCOUNTS

1 Donations and legacies Unrestricted
funds		 Restricted
funds		 Total
2025		 Total
2023
£’000 £’000 £’000 £’000
Donations and gifts 2,498 1,297 3,795 2,463
Legacies 511 - 511 848
Grants receivable 1,431 - 1,431 1,360
Covenanted salaries and pensions (see below) 1,686 380 2,066 1,040
6,126 1,677 7,803 5,711
Covenanted salaries and pensions represent salaries and pensions of members of the Society payable to the Trust
under deeds of covenant or Gift Aid declarations.

----- Start of picture text -----
2 School fees and related income
Unrestricted Restricted Total Total
f unds f unds 2025 2023
£’000 £’000 £’000 £’000
Retreat income 3,342 - 3,342 1,991
Gross school fees receivable 13,655 (43) 13,612 7,692
Less: Total bursaries, grants and other allocations (261) - (261) (96)
16,736 (43) 16,693 9,587
----- End of picture text -----

----- Start of picture text -----
3 Trading income
Total Total
2025 2023
£’000 £’000
Trading income 34 39
Income from trading subsidiary 157 79
191 118
----- End of picture text -----

The Trust has one wholly owned trading subsidiary, St John’s Beaumont Development Company Limited, which is incorporated in England and Wales (Registration number 03355298). This company exists principally to hire out the leisure and conference facilities at one of the Trust’s two schools. A summary of its trading results is shown below. All income is unrestricted. The audited accounts are to be filed with the Registrar of Companies.

----- Start of picture text -----
Total Total
2025 2023
St John’s Beaumont Development Company Limited £’000 £’000
----- End of picture text -----

Turnover 157 79
Cost of sales - -
Gross proft 157 79
Administrative costs (91) (41)
Net profit 66 38
GiftAid (38) (22)
Movement on proft and loss account 28 16
All profts generated by the company are Gift Aided to the Charity.

46 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

----- Start of picture text -----
4 Other activities for generating funds Unrestricted Restricted Total Total
f unds f unds 2025 2023
£’000 £’000 £’000 £’000
Sale of publications 67 - 67 42
Lettings of functional properties 252 - 252 123
Gain on foreign exchange - - - 1
Miscellaneous 60 - 60 45
379 - 379 211
----- End of picture text -----

----- Start of picture text -----
5 Investment income Total Total
2025 2023
£’000 £’000
Listed investments – equities
UK 918 674
Europe 1,528 978
North America 5,596 3,391
Other 1,178 833
9,220 5,876
Interest receivable 2,566 1,267
Rental income 3,760 2,586
Property funds 3,306 1,922
18,852 11,651
----- End of picture text -----

All rental income is generated from investment properties within the United Kingdom and all interest is from United Kingdom loans and deposits. Property fund income represents dividends received from money held in Property Fund Income units.

6 Other income Total
2025
£’000		 Total
2023
£’000
Net other income ontransfer of investments* 3,619 -
Other educational income 776 416
Sundry income 591 265
4,986 681
* The netother income showing on transfer of investments relates to a transfer occasioned by the rationalisation
of funds held for the benefit of the Society of Jesus’s activitiesin the new Southern Africa Province, which
combined the former Zimbabwe Province, South Africa Region, and Zambia-Malawi Province. The amount
recorded as income was reinvested immediately in the “Southern Africa Province” Fund.

jesuit.org.uk 47

NOTES TO THE ACCOUNTS

----- Start of picture text -----
7 Raising funds Unrestricted Restricted Total Total
f unds f unds 2025 2023
£’000 £’000 £’000 £’000
Trading expenses 134 - 134 63
Financing costs 81 1 82 105
Estate management fees 223 - 223 130
Premises costs for investment property 455 - 455 247
Investment management fees 4,093 - 4,093 2,321
Fundraising costs 568 - 568 358
Legal and professional fees 254 38 292 168
5,808 39 5,847 3,392
----- End of picture text -----

----- Start of picture text -----
8 Charitable activities Support Total Total
Direct c osts c osts Grants 2025 2023
£’000 £’000 £’000 £’000 £’000
Parish ministry 82 1,752 246 2,080 1,666
Education 10,051 12,557 2,206 24,814 16,022
Formation - 2,751 6,314 9,065 5,103
Social justice and the relief of poverty - 2,990 240 3,230 1,965
Care of infirm and elderly members 3,874 2,389 - 6,263 3,741
Spirituality 1,452 4,381 26 5,859 3,397
Work worldwide - 1,622 6,039 7,661 5,484
15,459 28,442 15,071 58,972 37,378
note 8a note 8b
----- End of picture text -----

----- Start of picture text -----
Prior year charitable activities Support Total
Direct c osts c osts Grants 2023
£’000 £’000 £’000 £’000
Parish ministry 37 596 1,033 1,666
Education 5,555 8,268 2,199 16,022
Formation - 1,789 3,314 5,103
Social justice and the relief of poverty - 1,750 215 1,965
Care of infirm and elderly members 2,289 1,452 - 3,741
Spirituality 925 2,456 16 3,397
Work worldwide - 644 4,840 5,484
8,806 16,955 11,617 37,378
note 8a note 8b
----- End of picture text -----

48 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

8a Support costs General
admin.
£’000		 Premises
£’000		 Other
£’000		 Total
2025
£’000		 Total
2023
£’000
Parish ministry 348 1,382 22 1,752 596
Education 5,164 4,672 2,721 12,557 8,268
Formation 813 988 950 2,751 1,789
Social justice and the relief of poverty 302 397 2,291 2,990 1,750
Care of infrm and elderly members 1,692 697 - 2,389 1,452
Spirituality 2,005 1,273 1,103 4,381 2,456
Work worldwide 1,365 257 - 1,622 644
11,689 9,666 7,087 28,442 16,955
Included within costs of charitable activities are governance costsof £84,516 (2023–£52,157) which include
auditors fees of £49,750 (2023–£36,000) for the Trust, £13,613 (2023–£6,195) for the schools, and
trustees indemnity insurance premium of £21,153 (2023–£9,962).
Central costs (3%) which are not separately identifable as belonging to a particular activity are allocated on a pro
rata basis across the various charitable activities. Premises costs include building maintenance, insurance, utilities
and depreciation. Costs relating to common buildings (23%) are allocated on a pro rata basis across the various
charitable activities. Other costs including welfare and catering, are allocated directly to the activities for which
they relate.

----- Start of picture text -----
Prior year support costs
General Total
a dmin. Premises Other 2023
£’000 £’000 £’000 £’000
Parish ministry 215 332 49 596
Education 3,490 3,605 1,173 8,268
Formation 810 636 343 1,789
Social justice and the relief of poverty 211 309 1,230 1,750
Care of infirm and elderly members 984 468 - 1,452
Spirituality 919 780 757 2,456
Work worldwide 473 171 - 644
7,102 6,301 3,552 16,955
----- End of picture text -----

jesuit.org.uk 49

NOTES TO THE ACCOUNTS

----- Start of picture text -----
8b Grants
Total Total
2025 2023
£’000 £’000 £’000 £’000
Parish ministry
Sacred Heart Church, Edinburgh 146 1,000
Various Jesuit-led parishes 100 33
246 1,033
Education
Jesuit voluntary - aided schools 928 1,767
Other educational grants 1,278 432
2,206 2,199
Formation
Worldwide Society 1,009 820
Other Jesuit Provinces 2,224 747
Bishops Conference, England & Wales - 600
Other 3,081 1,147
6,314 3,314
Social justice and the relief of poverty
Grants to groups and individuals 240 215
240 215
Spirituality
Grants to groups and individuals 26 16
26 16
Work worldwide
Zimbabwe Province, Society of Jesus 2,640 2,369
Guyana Region, Society of Jesus 514 372
South Africa Province, Society of Jesus - 647
Harare Diocese, Zimbabwe 125 131
Other Jesuit Provinces/Works 538 489
Other various grants overseas 2,222 832
6,039 4,840
Total grants payable 15,071 11,617
----- End of picture text -----

50 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

----- Start of picture text -----
9 Staff costs and Trustees’ remuneration and costs
9a Staff costs Total Total
2025 2023
£’000 £’000
Wages and salaries 17,053 10,579
Termination payments 51 30
Social security costs 1,781 1,035
Pension contributions 1,664 950
20,549 12,594
Total employment costs of key management personnel (included above) 1,251 851
2025 2023
Number of Number of
employees employees
Teaching staff 142 130
Administration and domestic staff 245 259
387 389
The number of employees who earned £60,000 or more (including taxable benefits but excluding
employer’s pension contributions) in total during each period (18 months in 2023-2025) was as follows:
2025 - 18m 202 3
----- End of picture text -----

9 Staff costs and Trustees’ remuneration and costs
9a Staff costs Total
2025
£’000		 Total
2023
£’000
Wages and salaries 17,053 10,579
Termination payments 51 30
Social security costs 1,781 1,035
Pension contributions 1,664 950
20,549 12,594
Total employment costs of key management personnel (included above) 1,251 851
2025
Number of
employees		 2023
Number of
employees
Teaching staff 142 130
Administration and domestic staff 245 259
387 389
The number of employees who earned £60,000 or more (including taxable benefits but excluding
employer’s pension contributions)in totalduringeach period (18 months in 2023-2025)was as follows:
2025 - 18m 2023
£60,001 - £70,000 9 4
£70,001 - £80,000 9 3
£80,001 - £90,000 3 1
£90,001 - £100,000 3 3
£100,001 - £110,000 6 1
£110,001 - £120,000 2 1
£130,001 - £140,000 2 -
£140,001 - £150,000 1 -
£170,001 - £180,000 1 -
£200,001 - £210,000 1 -
Pension contributions are paid in respect of the thirty-seven employees above, who are paid in excess of £60,000.
In respect of one of the employees, contributions are made into the Teachers’ Superannuation Scheme, a defned
benefit scheme. In the case of the other thirty-six employees, contributions are made into a defined contribution
scheme. The total contributions made were £22,770 (2023–£44,789) into the Teachers’ Superannuation Scheme
and £276,842 (2023–£89,365) into the defined contribution scheme.
9b Trustees’ remuneration and expenses
As members of the Society, the Trustees’ living and personal expenses during theperiodwere borne by the Trust.
There were no meeting expenses incurred thisfinancial period(2023–Nil). No remuneration for services
waspaid to the trustees(2023–Nil).
With authority from the Charity Commission, the Trust has purchased insurance to protect the Trust from any
loss arising from the neglect or defaults of its trustees, employees and agents and to indemnify the trustees or
other officers against the consequences of any neglect or default on their part. The insurance premium paid by
the charity during theperiodtotalled £21,153 (2023–£9,962) and provides cover of up to a maximum of £5
million(2023–£5 million).

jesuit.org.uk 51

NOTES TO THE ACCOUNTS

10 Taxation

----- Start of picture text -----
The 1921 and 1929 Trusts of the Society of Jesus in Great Britain and the Society of Jesus Charitable Trust are
registered charities and are not liable for income tax or capital gains tax on income and gains derived from their
charitable activities, as they fall within the various exemptions available to registered charities.
11 Tangible fixed assets Freehold
f unctional Vehicles
l and and and
b uildings e quipment Total
£’000 £’000 £’000
At cost or valuation
At 1 October 2023 101,323 6,681 108,004
Additions at cost 2,335 1,291 3,626
Disposals - (7) (7)
At 31 March 2025 103,658 7,965 111,623
Depreciation
At 1 October 2023 24,273 4,554 28,827
Charge for the period 2,265 933 3,198
Disposals - - -
At 31 March 2025 26,538 5,487 32,025
Net book value
At 31 March 2025 77,120 2,478 79,598
At 30 September 2023 77,050 2,127 79,177
----- End of picture text -----

52 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

12 Churches and historical assets

The Trust is the legal owner of the following properties,which are not valued for thepurposes of these accounts. The Trust is the legal owner of the following properties,which are not valued for thepurposes of these accounts.
Edinburgh
Mayfair, London
Manchester
Preston
Stamford Hill, London
Hurst Green, Lancashire		 Sacred Heart Church
Farm Street Church
Holy Name Church
St Wilfrid’s Church, Presbytery and Parish Hall
St Ignatius Church
St Peter’s Church (Stonyhurst)

~~Corpus Christi Church, Boscombe, was transferred to the Diocese of Portsmouth in March 2024. Sacred Heart~~ Church, Wimbledon, was transferred to the Archdiocese of Southwark in March 2025.

The churches have belonged to the Trust for many years and details of their original cost are not available. All are functioning churches and as such are neither readily marketable nor can be reliably valued and are therefore excluded from the balance sheet.

The Trust also holds works of art, book collections and religious artefacts that currently serve, and are intrinsic to, the work of the Trust, but which have been excluded from the balance sheet. A market valuation for such assets is uncertain and, in any case, available only at an expense that appears to the t rustees to be out of proportion to any enhancement of the disclosure properly required in these accounts.

----- Start of picture text -----
13 Investments Listed Investment Total Total
i nvestments p roperties 2025 2023
£’000 £’000 £’000 £’000
Market value at 1 October 561,847 51,892 613,739 562,286
Less: Disposal proceeds (186,752) (401) (187,153) (115,206)
Add: Additions at cost 161,662 - 161,662 115,914
Net investment gains 86,578 113 86,691 40,450
Market value at period end 623,335 51,604 674,939 603,444
Cash held by investment managers 8,964 - 8,964 10,295
632,299 51,604 683,903 613,739
Investments held at period end (31 March 2025 / 30 September 2023)eriod end (31 March 2025 / 30 September 2023)(31 March 2025 / 30 September 2023)31 March 2025 / 30 September 2023)ptember 2023)tember 2023)) comprised the following:prised the following:rised the following:g::
Listed investments
Equities:
UK 53,503 43,349
Europe 112,333 86,544
North America 348,732 310,038
Other 70,321 72,344
----- End of picture text -----

----- Start of picture text -----
632,299 51,604 683,903 613,739
Investments held at period end (31 March 2025 / 30 September 2023)eriod end (31 March 2025 / 30 September 2023)(31 March 2025 / 30 September 2023)31 March 2025 / 30 September 2023)ptember 2023)tember 2023)) comprised the following:prised the following:rised the following:g::
Listed investments
Equities:
UK 53,503 43,349
Europe 112,333 86,544
North America 348,732 310,038
Other 70,321 72,344
584,889 512,275
Property Fund units 38,445 39,277
Market value of listed investments 623,334 551,552
UK investment properties 51,605 51,892
Cash balances held by investment managers 8,964 10,295
683,903 613,739
----- End of picture text -----

jesuit.org.uk 53

NOTES TO THE ACCOUNTS

14 Debtors Total Total
2025 2023
£’000 £’000
Amounts falling due after more than one year
Long-term loans (see below) 4,301 6,483
Other debtors - -
4,301 6,483
Amount falling due within one year
School fees and other educational services 58 152
Accrued investment income 47 73
Prepayments and other accrued income 1,320 1,334
Other debtors 190 348
1,615 1,907
Total debtors 5,916 8,390

The loan to Mount St Mary’s College has been partly repaid following the sale of some land in 2021-2022 and so stands at £2,907,766 as at 31 March 2025 (2023 - £3,016,993). A re-profiling of the loan took place in October 2024, reducing the interest rate to the Bank of England Base Rate, and extending the date for final repayment until May 2044.The loan is secured by a charge over the freehold property of the College, but is in default as at 31 March 2025. In early August 2025, after the balance sheet date, Mount St Mary's College closed and its trustees appointed administrators. However, the trustees have assessed the loan at the balance sheet date and have considered that it is not impaired given the value of the underlying assets on which it is secured.

There are two loans to St Aloysius' College, Glasgow. The first, with a balance of £681,620 at 31 March 2025 is secured against school property in central Glasgow and is due to be repaid by 30 September 2028.The second, with a balance of £817,733 at 31 March 2025, is secured against the school’s sports facility, following the sale of farm property by the school on which it had previously been secured. It is due to be repaid by 31 December 2028. Both loans incur interest at 2.2 percentage points above the Bank of England Base Rate. Following restructuring at the College, the trustees have agreed a capital repayment holiday until mid-2026. Interest continues to be received on the loan as agreed.

15 Short-term deposits Total Total
2025 2023
£’000 £’000
Deposits redeemable in 1 day – 3 months 22,073 20,268
Deposits redeemable in 3 months – 1 year 4,325 3,248
26,398 23,516
16 Creditors: amounts falling due within one year Total Total
2025 2023
£’000 £’000
School fees and other educational charges 914 1,305
Taxation and social security 460 249
Held on behalf of other Jesuit Provinces and projects 10,716 13,388
Grants committed 4,235 6,253
Expense creditors, accruals and other 2,661 2,471
18,986 23,666

54 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

----- Start of picture text -----
17 Creditors: Amounts falling due after more than one year Total Total
2025 2023
£’000 £’000
School fees and other educational charges 481 469
Grants committed 2,841 863
3,322 1,332
----- End of picture text -----

18 Restricted funds At
1 Oct
2023
£’000		 Income
£’000		 Expenditure
£’000		 Gains/
(losses)
£’000		 Transfers
between
funds
£’000		 At
31 March
2025
£’000
Beaumont Educational Trust 287 14 (8) 9 - 302
Harare 18,532 507 (125) 1,884 - 20,798
Mission funds 3,914 621 (963) - - 3,572
vonHügel 5 - (5) - - -
Osterley 56,928 1,843 (3,119) 6,875 - 62,527
Other restricted funds 793 1,010 (1,451) - - 352
80,459 3,995 (5,671) 8,768 - 87,551
Restricted funds are subject to specifc conditions imposed by the donors.
•
The Beaumont Educational Trust exists to provide financial assistance for the education of boys and young
men, especially those who have a connection with the former Beaumont College, a Jesuit establishment. It is a
separate charity, registered no. 309142, the trustees of which are Trustees for Roman Catholic Purposes
Registered.
•
The Harare Fund exists to support the Works of the Roman Catholic archdiocese of Harare in the
Zimbabwe region of the Society of Jesus. This is for the purposes of education, the relief of poverty and the
promotion of religion.
•
Mission funds promote missionary Works in overseas countries by making grants to Christian missions,
especially those of the Society of Jesus.
•
The von Hugel fund exists for the advancement of the Roman Catholic religion in the area of the Roman
Catholic parishes of Boscombe and Iford near Bournemouth. These funds were part of a separate charity,
registered no. 278966. Trusteeship of this fund was transferred to the Diocese of Portsmouth as part of the
transfer of Corpus Christi Church, Boscombe to the same Diocese in March 2024.
•
The Osterley Fund (formerly the “Young Priests Fund”) exists to encourage and support candidates for
priesthood.
•
Other restricted funds represent one-off donations given for a number of specific purposes.

jesuit.org.uk 55

NOTES TO THE ACCOUNTS

----- Start of picture text -----
19 Designated funds
Included within the unrestricted funds are designated funds totalling £688,7 57k. These are amounts that have
been set aside for specific purposes by the Trustees and are as follows:
At At
1 Oct New Utilised/ 31 March
2023 d esignations r eleased 2025
£’000 £’000 £’000 £’000
Foundations 49,389 8,992 (3,517) 54,864
Apostolic Works 99,277 11,211 (6,185) 104,303
Formation 170,113 22,012 (4,227) 187,898
Old Age 95,284 13,837 (4,859) 104,262
Bellarmine 81,900 12,181 (4,443) 89,638
Guyana 18,405 2,770 (514) 20,661
South Africa 17,098 2,530 (19,628) -
Southern Africa Province (formerly Zimbabwe) 47,323 27,643 - 74,966
Personnel support and training 12,316 1,577 (128) 13,765
Jesuit Development 1,039 127 - 1,166
Jesuit Communities 15,538 144 (517) 15,165
Local Trusts 819 90 - 909
Other educational funds 17,223 22,946 (21,179) 18,990
Society of Jesus Charitable Trust (1990 Trust) - 527 (527) -
Other designated funds 2,170 - - 2,170
627,894 126,587 (65,724) 688,757
----- End of picture text -----

56 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

19 Designated Funds (continued)

jesuit.org.uk 57

NOTES TO THE ACCOUNTS

----- Start of picture text -----
20 Analysis of Net Assets between Funds Unrestricted f unds
General Designated Restricted Total
f unds f unds f unds 2025
£’000 £’000 £’000 £’000
Fund balances at 31 March are represented by:
Tangible fixed assets - 79,598 - 79,598
Investments - 591,289 92,614 683,903
Net current assets 7,676 18,351 (2,222) 23,805
Creditors: amounts falling due after more than one year - (481) (2,841) (3,322)
Total net assets 7,676 688,757 87,551 783,984
Prior year analysis of net assets between funds Unrestricted Funds
General Designated Restricted Total
f unds f unds f unds 2023
£’000 £’000 £’000 £’000
Fund balances at 30 September are represented by:
Tangible fixed assets - 79,177 - 79,177
Investments - 529,365 84,374 613,739
Net current assets 4,855 19,821 (3,052) 21,624
Creditors: amounts falling due after more than one year - (469) (863) (1,332)
Total net assets 4,855 627,894 80,459 713,208
----- End of picture text -----

21 Pension commitments

Defined benefit scheme

Retirement benefits for teaching staff of the Trust are provided by the Teachers’ Pension Scheme England and Wales (‘the TPS’) which is funded by contributions from the Society’s schools and their employees.

Contributions to the defined benefit schemes are charged in the Statement of Financial Activities so as to spread the cost of the pensions over the employees’ working lives with the schools. This amounted to £ 287,447 (2023 - £3 98,372) payable to the TPS.

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary – these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The actuarial valuation of the TPS which applied during the period ended 31 March 2025 was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The valuation report confirmed that the employer contribution rate for the TPS would increase from 23.68% to 28.68% from 1 April 2024.

58 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

21 Pension commitments (continued)

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Charity has accounted for its contributions to the scheme as if it were a defined contribution scheme.

Defined contribution scheme

The Society of Jesus Trust also makes contributions to defined contribution schemes for the benefit of its employees. These amounted to £ 1,379,549 (2023 - £551,651).

22 Connected charities and related parties

The Trustees for Roman Catholic Purposes Registered is also the trustee for the Society of Jesus Charitable Trust (1990 Trust – registered charity no. 803659).

The 1990 Trust uses the same principal office and has objects similar to many of those of the 1921 and 1929 Trusts. It is funded from the 1921 and 1929 Trusts by loans, and the amount due from the 1990 Trust at 31 March is £32,077,447 (2023 – £29,820,771).

During the period , t rustees received salary and pensions totalling £92,433 (2023 – £43,809), all of which was donated to the Charity.

Paul Nicholson SJ is a trustee of the Charity, and also a governor of Wimbledon College, a voluntary-aided state secondary school, which is a Jesuit foundation. During the period, the Charity made grants totalling £288,964 to Wimbledon College (2023 – £2,000,000).

There are no other disclosable related party transactions occurring during 2025 (2023: none).

jesuit.org.uk 59

NOTES TO THE ACCOUNTS

----- Start of picture text -----
23 Financial commitments Total Total
2025 2023
£’000 £’000
The total commitments in respect of operating leases are as follows:
Due within one year - -
Due within two to five years - -
- -
----- End of picture text -----

24 Capital commitments

Capital commitments, being amounts contracted but not provided for in these accounts, at the end of the – period were £751,000 (2023 £1,267,000). This relates to the refurbishment at St Beuno’s Spirituality – – Centre £287,000 (2023 £423,000), Holy Name Church, Manchester £434,000 (2023 £6,000), St John’s Beaumont ( 2023 – £755,000) and the new Novi t iate building in Birmingham £30,000 (2023 – £83,000).

25 Contingent assets

Contingent assets have arisen from the transfers of schools to separate charitable assets.

On 1 September 2009 Stonyhurst College and its trading subsidiary Stonyhurst College Development Limited were transferred to a separate charitable trust. Included in the transfer were buildings valued at £18,100,000, a £4,000,000 transfer of restricted funds and a £21,700,000 cash transfer. This cash transfer was made with a condition that £16,000,000 remains in the Balance Sheet of Stonyhurst New Trust and is a contingent asset repayable to The Society of Jesus if the activities of Stonyhurst College change.

£1,800,000 is also held by Mount St Mary’s College (a school transferred to a separate trust in 2007) and is repayable to The Society of Jesus in certain circumstances. In the event of the closure of the College, the amount will be recovered from any residual assets of Mount St Mary’s Colleg e. As noted in 26 - Post Balance Sheets Events below, the College has now closed. This contingent asset is expected to be recovered from the assets of the College, but the timing is not certain due to the administration process.

26 Post Balance Sheet Events

On 1 April 2025, immediately following the financi al period end, the assets, liabilities, staff and operations of the Jesuits in Britain were transferred to a new legal entity, the “Jesuits in Britain CIO”. St John’s Beaumont School (as noted below) did not transfer to the new entity.

During the financia l period , a contract for the sale of St John’s Beaumont School was signed by the trustees with Intellego Education Partners UK Ltd. This sale completed o n 30 July 2025.

~~As noted under 14 - Debtors, above, on 11 August 2025, administrators were appointed by the trustees of~~ Mount St. Mary's College, to whom the Charity is a major creditor.

27 Ultimate control

The Declaration of Trust dated 20 March 1929 provides that new Trustees shall be appointed by resolution of the existing Trustees and therefore, in the opinion of the Trustees, the Trustees are the ultimate controlling party.

60 Jesuits Annual Report – 18 months to 31 March 2025

NOTES TO THE ACCOUNTS

----- Start of picture text -----
28 Prior year comparatives by fund Unrestricted Restricted
f unds f unds Total
2023 2023 2023
£’000 £’000 £’000
Income from:
Donations and legacies 4,002 1,709 5,711
Charitable activities:
School fees and other educational income 9,613 (26) 9,587
Other trading activities:
Trading income 118 - 118
Other activities for generating funds 211 - 211
Investments 10,098 1,553 11,651
Other 681 - 681
Total income 24,723 3,236 27,959
Expenditure on:
Raising funds 3,372 20 3,392
Charitable activities:
Parish ministry 1 , 666 - 1,666
Education 15,422 600 16,022
Formation 4,079 1,024 5,103
Social justice and the relief of poverty 1,808 157 1,965
Care of infirm and elderly members 3,741 - 3,741
Spirituality 3,393 4 3,397
Work worldwide 4,254 1,230 5,484
Total expenditure 37,735 3,035 40,770
Net (expenditure)/income before gains/(losses) on investments (13,012) 201 (12,811)
Net gains/( losses) on investments 36,692 3,757 40,449
Net income/(expenditure) 23,680 3,958 27,638
Transfers between funds 25 ( 25 ) -
Net movement in funds 23,705 3,933 27,638
Reconciliation of funds:
Total funds brought forward 609,044 76,526 685,570
Total funds carried forward 632,749 80,459 713,208
----- End of picture text -----

jesuit.org.uk 61

NOTES TO THE ACCOUNTS

----- Start of picture text -----
29 Prior year summary of movement in funds
Restricted funds
At Transfers At
1 Oct Gains/ between 30 Sept
2022 Income Expenditure ( l osses) funds 2023
£’000 £’000 £’000 £’000 £’000 £’000
Beaumont Educational Trust 280 9 ( 8 ) 6 - 287
Harare 17,524 332 (131) 807 - 18,532
Mission funds 4,047 677 (785) - ( 25 ) 3,914
von Hügel 5 - - - - 5
Osterley (Young Priests) 53,795 1,212 (1,023) 2,944 - 56,928
Other restricted funds 875 1,006 (1,088) - - 793
76,526 3,236 (3,035) 3,757 ( 25 ) 80,459
----- End of picture text -----

----- Start of picture text -----
Designated funds At At
1 Oct New 30 Sept
2022 d esignations Utilised 2023
£’000 £’000 £’000 £’000
Foundations 47,020 4,409 (2,040) 49,389
Apostolic Works 97,259 5,267 (3,249) 99,277
Formation 162,716 10,479 (3,082) 170,113
Old Age 91,353 6,681 (2,750) 95,284
Bellarmine 78,256 5,797 (2,153) 81,900
Guyana 17,427 1,324 (346) 18,405
South Africa 16,057 1,218 (177) 17,098
Southern Africa Province (formerly Zimbabwe) 46,684 3,481 (2,842) 47,323
Personnel support and training 11,710 752 (146) 12,316
Jesuit Development 980 59 - 1,039
Jesuit Communities 15,750 73 (285) 15,538
Local Trusts 2,347 39 (1,567) 819
Other educational funds 16,233 14,146 (13,156) 17,223
Society of Jesus Charitable Trust (1990 Trust) - 241 (241) -
Other designated funds 2,170 3,257 (3,257) 2,170
605,962 57,223 (35,291) 627,894
----- End of picture text -----

62 Jesuits Annual Report – 18 months to 31 March 2025

je8iiit.org.uk 63

Registered charity numbers: England & Wales 230165 Scotland SC040490

JesuitsinBritain @JesuitsBritain JesuitsinBritain JesuitsinBritain Jesuits in Britain e-newsletter

Provincial Offices 114 Mount Street, London W1K 3AH 020 7499 0285 jesuit.org.uk enquiries@jesuit.org.uk

Designed by: www.rfportfolio.com Front cover: Ordination to the Priesthood of Carlos Chuquihuara Aguirre SJ (Photo: Weenson Oo)