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2025-08-31-accounts

Report & Financial Statements

For the year ended 31 August 2025

TRUST PROPERTY HELD IN CONNECTION WITH THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS

(THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES)

Registered Charity No. 254312

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

INDEX Page Number
Legal and Administrative Details 1
Report 2-24
Report 25-28
Statement of Financial Activities 29
Balance Sheet 30
Statement of Cash Flows 31
Notes to the Financial Statements 32-47

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Legal and Administration details:

Full Name Trust Property Held in Connection with the English Province of the
Congregation of Christian Brothers
Governing Document Amended Trust deed dated 27 February 2015
Charity Registration Number 254312
Trustees D. Gibson (Chair of Trustees)
P.G. Gordon
E.
D. Sassi
J. Donovan
M. Halligan (appointed 1 November 2024)
Principal Address
Rockwell Road,
West Derby,
Liverpool,
L12 4XY
Financial Administrator L&P Trustee Services Ltd
Auditors Forvis Mazars LLP
One St.
Square
Manchester
M2 3DE
Solicitors Hill Dickinson
1 St
Square
Liverpool L3 9SJ
Principal Banker HSBC
11 Stamford New Road
Altrincham
Cheshire WA14 1BW
Investment Advisors Cantor Fitzgerald Ireland
23 St. Stephens Green
Dublin 2

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their report, together with the audited financial statements for the year ended 31 August 2025.

INTRODUCTION

The Congregation of Christian Brothers is an international Roman Catholic Religious Congregation. It was founded in Waterford, Ireland in 1802 by Blessed Edmund Rice. It is divided into 5 distinct Provinces across the world.

The financial statements accompanying this report are the financial statements of the charitable trust in which the assets of the Christian Brothers in England are held. The Christian Brothers in England, in canon law terms, forms part of the European Province.

Background

Edmund Rice was born at Westcourt, Callan, Co. Kilkenny on 1 June 1762. It was a time of political and religious oppression, when poverty and want affected the lives of the vast majority of the citizens of the land.

As there was no formal schooling available to Catholics at that time, Edmund was educated both at children to school. After his early schooling Edmund moved to Waterford in 1779. In Waterford, he worked for his uncle, Michael Rice, in the family business, provisioning ships calling at busy dockside. Edmund was a good businessman, and in due course inherited the family business from his uncle. Under his careful management, it prospered greatly. He became a wealthy man.

In 1785, at the age of 23, Edmund married Mary Elliott. There is very little that history reveals about the marriage other than that it came to an abrupt end with the tragic death of his young wife in 1789. Edmund found himself the sole parent of a small child who was delicate in health, and possibly suffering from a disability. Being a strong family man, Edmund initially entrusted the care of young Mary Rice to his stepsister, Joan, in 3 Arundel Place in Waterford where he had set up house.

The next twelve years of life were hidden years during which he coped with his sorrows, ran his business, and ensured the wellbeing of his little daughter, Mary.

In 1802, at the age of 40, Edmund took a very decisive step. He embarked on a spiritual journey that changed his life utterly. The inspiration for his decision probably came from the example of Nano Nagle, the founder of the Presentation Sisters. Like Nano, he decided to devote the remainder of his life, and all of his resources, to the education and care of the poor. He sold his business in Waterford and arranged for his step-sister, Joan Murphy, and his handicapped daughter to move to Callan. He himself moved to a large stable in New Street, which he opened as a free school for poor Catholic boys. To help him with his project, Edmund recruited some hired help.

also illegal because, although the political scene had changed greatly and the Act of Union had been passed in 1800, many of the Penal Laws were still on the Statute Books, and educating poor Catholics could be interpreted as a seditious act. The beginning of educational project was tentative and inauspicious. The hired help evaporated early on, demoralised by the enormity and would surely prevail. His faith was rewarded when two young men from his own town of Callan, Patrick Finn and Thomas Grosvenor, volunteered to join ranks with him in his new venture. The nucleus of a new religious congregation was forming, and Edmund was inspired to take the next step.

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In June 1802, Edmund began to build a monastery to accommodate his small community. This was another seditious act that left him vulnerable before the Law. The monastery was soon completed, which he called Mount Sion. By this time, a fourth member, John Mulcahon, had joined the little group.

Word soon got around and, gradually, other volunteers came to Mount Sion offering their services freely for the realisation following a well ordered way of life inspired by the Rule of the Presentation Sisters, a way of life with which Edmund was familiar through his contact with the Presentation Sisters in Waterford.

As the number of volunteers grew, so too did the capacity for service of the poor, and in due course a school was opened in Carrick-on-Suir in 1806, and another in Dungarvan towards the end of 1807. By 1808, the new movement had eight members, and Edmund believed that the time was right for formally establishing themselves as a religious congregation. He approached the Bishop of Waterford, Reverend Dr. John Power, to allow them to formalise their religious commitment by professing religious vows according to the Rule of the Presentation Sisters. Bishop Power agreed enthusiastically and on 15 August 1808, the Feast of the Assumption of the Blessed Virgin Mary, Edmund and his seven followers m Waterford. The Bishop, on behalf of the Church, formally received their professions.

d beyond the

boundaries of the diocese of Waterford. Other bishops got to hear about it, and because the social conditions of the poor were much the same in every diocese in the country, a number of bishops expressed the wish that Edmund would open a school for the poor in their diocese also. In 1811 the Brothers opened a school in Cork; In 1812, at the invitation of the Archbishop of Dublin, the Brothers opened another school in Hanover Street on the south quays. In quick succession the following schools were opened: Cappaquin (1813), Limerick (1816), Thurles (1816), Mill Street (Dublin, 1816), Francis St. (Dublin 1820), and eventually in Preston (England 1825). Preston was the first opening outside of Ireland, and constituted a major development in the missionary outreach of the new congregation.

The poverty and deprivation with which some of these early foundations had to contend shocked even Edmund himself, and grounded him even more solidly in his trust in Divine Providence. the will of

The spread of the new fraternity into several dioceses created huge administrative difficulties for the early Brothers. Since each community was under the jurisdiction of the local Ordinary of the diocese in which it was located, the transfer of Brothers from one community to another, issues of finance, formation matters, and community policy generally all became fraught with difficulties. Edmund felt that these difficulties amounted to a serious constraint on the development of his burgeoning congregation, and he looked around for an alternative model of administration to the diocesan model which was proving so cumbersome. Very quickly, he discovered that the solution to these difficulties lay in getting papal approval for his congregation as an Apostolic Institute, a status enjoyed by the congregation of De LaSalle Brothers for many decades.

To facilitate the move away from a diocesan structure, in 1817 Edmund and his Brothers with the approval of the Archbishop of Dublin, applied to the Holy See for an Apostolic Brief. In due course, and despite some opposition, His Holiness, Pope Pius VII granted request, and issued the formal brief establishing the Congregation as an Apostolic Institute in 1820. The Brothers formally accepted the brief on 20 January 1822. Edmund Rice was elected Superior General of the new Apostolic Institute.

Nineteen of the thirty Brothers eligible to vote were present in Mount Sion on that historic day. Of those early Brothers who did not sign, some withdrew from the congregation at that point, while others wished to retain their diocesan affiliations and consequently refused the Brief. One of these, Br. Michael Austin Riordan, became the nucleus around which the Presentation Brothers Congregation developed.

The spread of the Congregation from small beginnings in Waterford in 1802 to the worldwide organisation it is today, working in over thirty countries spread across the five continents, is a matter of incarnate itself in many countries, proclaiming its message of liberation through education in many languages and many cultures.

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OBJECTIVES

Charitable Objects

and other charitable work for the time being carried on in Great Britain or abroad by or under the direction or with the support of the Province as the Trustees with the approval of the Provincial Leader

Aims

The Charity aims to support the religious and other charitable works carried on in the name of the Congregation and to care for those members throughout their lives within the Congregation. These Ministries of the Brothers of the Congregation, all of which benefit numerous members of the general public, fall into the following main areas:

Each of these is considered in turn below:

Education

The Charity provides support and services for six schools in direct or Academy Trusteeship and, without charge, to a further three associated schools in diocesan or independent Trusteeship.

Criteria for Measuring Success in Edmund Rice Schools

Measuring success for beneficiaries and the wider society in terms of numerical and scientific criteria is rather difficult for the English Region of the European Province but, being the Trustees of the independent Preparatory school in England and being an important part of the overall successful operations of the four Academy Colleges as well as involvement in the ethos of the four Associate schools, is important and is undertaken under two strands:

First Strand

Answering to outside Agencies to whom the schools are accountable and which have their own measurable standards as follows:

The Office for Standards in Education (Ofsted) - as it applies to the Academy Schools:

Schools undergo regular inspections during which their statistics are analysed.

Independent Schools Inspectorate (ISI) - as it applies to Preparatory schools:

Use of inspections (every six years) to measure pupil progress; provision of a series of policies / procedures in a variety of areas e.g. Finance, measurement of pupil progress, safeguarding, safe recruitment, behaviour and discipline etc.

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Schools are rated according to their compliance against the standards as perceived by an inspectorate team.

Second Strand

Answering to the standards as which many of our schools build their annual School Improvement Plan (SIP). These plans use the SMART acronym; Specific, Measurable, Attainable, Relevant, Timely . Each target has a clear set of smart outcomes which allow the school to perform an accurate measure of its degree of success.

The Trustees meet annually face-to-face with the senior leadership and governors of the Academies and Preparatory schools and undertake an audit of success within the school which includes both external and internal judgements.

Secondary schools

All four of the secondary schools are now Academy Trusts and invite the Trustees to their annual AGMs in accordance with the Articles of Association:

The Trustees have taken the view that it would not be appropriate to consolidate the accounts of the Academies must abide by strict financial and operating provision laid down by the Department for Education and these amount to severe long term restrictions as defined by FRS102 section 9.

Primary schools

The independent primary schools which continue in direct trusteeship, with the Congregation Trustees as registered proprietors are listed below:

Their results are included in these financial statements.

Associated schools:

There are three associated schools in other trusteeships and, as such, it is not appropriate to include their results in these financial statements.

These schools continue within the family of Edmund Rice schools. All four receive in-service and immersion opportunities and ethos support, co-ordinated and delivered by the Network Support Team employed by the Congregation Trustees.

Charity seeks to make through its schools operation is the provision and support of outstanding Catholic faith-based education in the Edmund Rice tradition. The aim is to achieve outstanding educational outcomes for boys and girls from nursery entry to the age of 18+, through the realisation of eight core principles set out by the Trustees.

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The 9 schools belong to the Edmund Rice family of schools by providing, and seeking continuously to improve, an educational programme grounded on the eight principles set out in a shared vision document, - define the identity and mission of the schools in England and provide a template for school development and mission evaluation. Through the implementation of these values the Charity seeks to promote individual educational, spiritual, physical, moral, social and cultural development within a Christian vision of the person and in the spirit of service established by the Founder, Blessed Edmund Ignatius Rice. Each school strives to be a Christian community where the fullest talents of each pupil are developed in a spirit of wider social awareness and with commitment to social justice and community responsibility.

The are:

1. Evangelising the modern world - Participating in the mission of the Catholic Church by bringing the Good News of Christ to all aspects of the life of the school community, and in dialogue with youth and contemporary culture, thus fulfilling the specific calling of the Congregation of Christian Brothers: The Evangelisation of youth through the Apostolate of Christian Education

2. Promoting the spiritual - Nurturing a living faith, fostering Christian spirituality, educating in Gospel-based values, living beyond the material dimension.

3. Building a Christian community - Growing as a school community in which the quality of care and relationships is Christ-inspired, based on mutual respect, self-sacrifice, and fully human dignity.

4. Compassion for those in need - Showing, in the spirit of Blessed Edmund Rice, particular love and concern towards the weakest members of the school community and reaching out beyond the school in compassion and practical action for the poor and marginalised both locally and internationally.

5. Concern for the whole person - Centering the curriculum, opportunities, and challenges of the school on the balanced and integrated development of its students, and staff, across all the positive dimensions of personal growth- religious, moral, intellectual, cultural, physical, and social.

6. Striving for excellence - Encouraging each individual to use his or her talents to the full, whether academic, cultural, or physical, and pursuing the highest standards in all aspects of learning, teaching, and extracurricular endeavor.

7. Education as a Christian calling - Valuing and enabling the role and vocation of Christian te

8. Education for justice - developing in them the talents for

active citizenship and transformational leadership.

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The expanded continues to be the basis for in-school inservice training to further embed, apply, and develop the eight guiding principles of the charity and thereby continue to improve the learning experience and opportunities of all pupils. The Trustees ensure Their role in selecting and appointing the Foundation Governors of the schools, and in the selection, appointment, and continuing formation of committed Headteachers and members of the school leadership teams. This applies both to the schools in direct trusteeship and to the newly formed Academies.

Each school is committed to safeguarding and promoting the welfare of its pupils, and fully adheres to statutory requirements and best practice in this respect and expects all staff and volunteers to share this commitment. Inspections of the stat ~~e f~~ unded schools by Ofsted (Office for Standards in Education Children Services and Skills) and of the independent schools by ISIS (Independent Schools Inspectorate) report that the quality of pastoral care in our schools is outstanding, that safeguarding and anti-bullying practices are effectively in place, and that the quality of provision for social, moral, and spiritual development and for social engagement, is excellent.

Each school welcomes pupils from all backgrounds. Though the first obligation is to admit Roman Catholic pupils, the schools are open to pupils of all faiths or none and are committed, in relation to all pupils admitted, to complete inclusivity. The admissions and oversubscription criteria of the selective schools comply fully with the current statutory Admissions Code and with equal opportunity legislation.

As equal opportunity providers the schools are committed to a working environment free from any form of discrimination. The schools are committed to making reasonable adjustments to meet the needs of staff or pupils who are, or become, disabled.

In the financial year the

objectives in the educational sector included:

The work of the Trustees in the schools is co-ordinated by a full-time Schools Officer, who provides guidance and support for Heads and Governing Bodies and:

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Faith development

As a Religious Congregation, faith development is of prime importance to the Trustees. All aspects of international missionary fields. The Trust continues to assess its work and to search for better ways of

The work in this area is mainly carried out through the schools and the local parishes where members of the Province reside. In addition, members of the Province provide prayer guidance and spiritual direction.

From the early 1990s the Congregation of Christian Brothers, as a religious institute, has made a priority of sharing its mission with the laity, laicising the leadership and governance of the schools. Beyond that, groups of associated lay people offered opportunities to draw spiritual and apostolic fruitfulness from the original charism. Thus the Truste objectives include the development of an Edmund Rice Network of lay people who wish to associate themselves with the spirituality and apostolic mission of the Brothers.

The Rice consists of local groups of interested adults gathering for spiritual sharing and reflection and who are encouraged to involve themselves in some form of social outreach. Although the majority of Network participants are drawn from staff and parents in the schools, meetings are open to all interested adults indeed to anyone who wishes in some way, however informally, to connect with the charism of Blessed Edmund Rice. Opportunities for spiritual conversation and faith-based social action are provided. The Network Support Team, in addition to its work with schools, seeks to build new local groups of lay associates on this model.

The Trustees fund combined school and Network services delivered by a Network Support Team employed by the Trustees. The Team take on the roles of:

The Edmund Rice Network group acts as a hub for Network development involving both lay associates and Christian Brothers. Extensive use is made of the Network Centre, for in-service sessions with teachers, support staff, governors, and pupils from the schools, and for gatherings with the wider community.

Since 2010 small spiritual conversation groups have developed in Manchester, Liverpool, the Wirral In addition, a series of sessions has been organised at the Network Centre, offering all comers the opportunity for spiritual conversation and prayerful reflection on life experience.

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Social and pastoral work

The following are examples of the social and pastoral work undertaken by the Edmund Rice Network and individual Brothers:

The aims of the Trustees in this area include:

International missionary work

The charity supports the international religious and other charitable works carried on in the name of the Congregation. Members of the Congregation of Christian Brothers are working in developing countries around the world. The Brothers work to help restore the education provision in those countries. They are involved in school education, special education for handicapped children and adult literacy programmes. In addition others are working with orphans and children displaced because of war. The tracing of families of displaced children and the former child combatants is another area of vital importance.

These young people are also offered literacy, numeracy and other skills-training programmes to help them re-integrate into society and to find ways of living economic and socially independent lives.

In addition, the Trust contributed to the establishment of Edmund Rice Bicentennial Trust (ERBT), an English registered charity whose purpose is to support the mission of the Congregation worldwide but especially in the majority (developing) world.

Care and welfare of members

Those members who earn salaries or receive pensions donate them to the Trust and therefore have no independent means of support. Many also give their services free in their various ministries and continue to do so well beyond retirement age. Hence the work of the Trust includes both the upkeep and up-skilling / retraining of the members so that they will be able to continue in their service to the public.

In addition, the Trust must also care for the elderly members who are now themselves in need of care. These members have no resources of their own and have devoted a significant part of their lives to the mission of the Congregation.

In this regard, the aims of the Trustees over the current and forthcoming years include:

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Public benefit

In setting objectives and planning activities, the Trustees and the Governing Bodies of the schools have given

The four secondary schools supported and serviced by the Trustees and the Schools Office educate over 4,000 students, are state-funded and completely non-fee paying. They are open to all with places accessed according to the admissions and oversubscription policies determined by Governing Bodies in conformity with the statutory Admissions Code and appeals procedures currently in force. All of the senior schools deliver further public benefit through the social outreach activities described elsewhere in this report and through community use of their facilities.

The two primary schools are independent fee-paying schools. The Trustees and the Governing Bodies of the schools have given consideration to the supplementary public benefit guidance on advancing education and on fee-charging. Each school has its own annual statement of objectives to fulfil its mission and excellence as an Edmund Rice school. This forms part of each planning. The two fee-paying primary schools are committed to maximising access by keeping fees as low as possible. Fees are kept well below the average for the independent sector nationally, below average regionally, and within the reach of families where both parents work.

The primary schools continue to develop its own bursary scheme to make a number of places available to children whose parents cannot pay fees. The number of advertised bursaries available remains limited because of the unusually low level of fees and the need for due regard for other families already become unemployed or fall on hard times. Bursaries are awarded, subject to meeting the standard entrance requirements of the school, solely on the basis of parental means or to relieve hardship when would be at risk (for example, in the case of redundancy or divorce). In addition, discounts are provided to families when they have more than one child attending the school.

The fee-paying primary schools seeks to provide wider public benefit by a range of means, for example:

The Edmund Rice Network delivers public benefit through its outreach work with refugees and asylum seekers in Liverpool and Greater Manchester and with marginalised youth in Salford, as described elsewhere in this report.

ACHIEVEMENTS AND PERFORMANCE

Educational Programme / School Governance

All four of the state-funded secondary schools are high performing Catholic schools in their authorities, oversubscribed, performing powerfully in national league tables, and highly valued regionally for the strength of their Christian-Catholic ethos. They are notable also for their contribution to local improvement partnerships and to community cohesion through outreach activities, collaboration with other schools in the maintained sector, and the community use of their facilities.

regeneration within a previously failing authority both as a Teaching School and running the SCITT (school centred initial teacher training) to provide new teachers for the Local Authority.

St. College, St. Ambrose College and St. College provide collaborative partnerships within their areas.

The independent Preparatory School is subject to inspection by the Independent Schools Inspectorate

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(ISI).

Some examples of the in-school support services and opportunities provided and funded across the schools by the Trustees are:

A Call to Participation, New Staff and Governor Formation Day

our Formation Day. This day offers those new to our schools an opportunity to learn about the heritage of our Christian Brothers educational establishments here and around the world, the life of Blessed Edmund and how his charism is lived out today across the world. Staff explored what the Eight Essentials are and how they are lived, they learned of the numerous opportunities afforded to them as o told them of his path as a Brother in his wonderful, inimitable style; he has people laughing one moment and crying the next! Our participants enjoyed the welcome they were offered and also felt inspired and motivated to get involved in our Edmund Rice family. We hope we planted seeds on that day and that these will continue to germinate. 'Have courage the good seeds will grow.

Office Visit to Sierra Leone and Liberia

In October 2024 we accompanied Naidi McDonnell from Edmund Rice Development (Irish Registered -awaited return to a second home for Roisin. We had a great programme planned out for us by Br Abu Kargbo, who hosted us so kindly in Sierra Leone. Br Abu is an excellent coordinator of the development office who is very running in Bo and Blama. It was very good for Roisin to see first-hand how the investment she helped to source from the Denise Coates Foundation is being put to excellent use in West Africa. The reception at every place was overwhelming and we are delighted to be able to support the work of the Brothers and ERD.

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programme established there. The whole visit inspired us to continue supporting the work being done for the most vulnerable in West Africa through advocacy and fundraising with our schools and wider network.

Eco clubs and Sustainability

The English Edmund Rice schools are proving to be great leaders in terms of their commitment to Care for the Earth, Eco Justice and Sustainability. We have been working with eco-groups from the Primary Schools, whose knowledge and commitment to caring for their environment is outstanding. It is so heart-warming to see many clear commitments to make caring for the planet become a reality. Many schools are working on their CAFOD Live Simply award (Catholic Agency for Overseas Development); faith-inspired actions inspired by Laudato Si. We have seen our schools spending time outside learning about nature, going on wellbeing walks, rewilding school grounds, installing solar power, and allocating staff to overseeing sustainability in school. We have formed a group of staff in our schools who are leading on eco activities. The aim is to share good practice and encourage progress on our Edmund Rice Earth Pledge. Each half term the office will share a short bulletin with eco-leads in school on innovations, eco education news, and useful programs they can link in with. We have had two bulletins so far.

We encouraged our schools to learn about and to lobby their MPS to support the new Climate and Nature Bill which came to parliament at the end of January.

New Office for Edmund Rice England

In April 2025, Edmund Rice England relocated from Woodeaves to Edmund Rice House , a beautifully refurbished cottage on the ca as officially opened with a blessing and reception on 16 July 2025 . Visitors have already commented on the welcoming and warm atmosphere.

Youth Ambassadors Visit UN in Geneva

Universal Periodic Review sessions at the UN in Geneva

understanding of international human rights processes and highlighted the real-world impact of grassroots advocacy. Reflections from the trip stressed both the potential and limitations of UN mechanisms and the importance of ERI's work representing vulnerable voices.

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Global Schools Meet and Youth Ambassadors Panel

Spring 2025 saw our second Global Schools Meet , with over 40 schools sharing advocacy projects. Plans are underway to launch an ERI Youth Ambassadors Panel , which will allow young leaders to meet regularly, share campaigns, and collaborate across borders.

Staff Pilgrimage Walking in the Footsteps of Edmund Rice

Staff from across the network joined a moving pilgrimage through Dublin, Waterford, and Callan. The and highlighted the role of lay leadership today. Feedback showed strong enthusiasm to expand this formation opportunity to more staff and students in the coming year.

Courageous Leadership Student Conference

In June, senior prefects from across Edmund Rice schools attended the Courageous Leadership Conference in Liverpool. Inspired by the Tutu Foundation programme , students explored leadership and a powerful commissioning service. Students requested continued leadership support for the year ahead.

-person advocacy een charity and advocacy. They contributed to a UN call for submissions on the right to free education, highlighting access barriers in the UK. Their work will be part of the upcoming intergovernmental discussions.

charity to systemic change. Discussions led to future plans, including expanding Youth Ambassadors, strengthening school ERI groups, and sending staff to future UN events.

Ann-Marie

.

Junior Edmund Rice Awards

Year 6 students from our three primary schools engaged in the Junior Edmund Rice Awards, learning about advocacy, justic

Edmund Rice Camps 2025

Edmund Rice Camps took place in Wirral, Liverpool, Manchester, and Stoke-on-Trent. Coordinators and mentors have worked year-round to ensure a joyful and meaningful experience for primary school children. Manchester Camp is set for its largest year ever, with returning leaders mentoring newcomers and sibling leaders joining the team

Camps continue to be a lived expression of service and community across the Network.

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EREBB

Spring 2025 has seen the launch of Global Classroom partners program which we run jointly with EREA. We had over 60 schools join the launch zooms on Tuesday this week. We have adapted the project so that school classes can link more independen

partnerships from previous stages are continuing, with joint projects planned and close links building between schools.

Partnerships can also be developed between staff, and student leadership groups. I am glad to say a good number of our English schools joined the launch zooms. All primary schools have this poster in their rooms - where the teacher can easily scan the code and register their class to link globally and also add their class photo to the EREBB Global map Gallery.

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Two of our primaries are linking with Stella Maris, Uruguay to help them celebrate their 70th birthday

Social and Pastoral work

Throughout the year, the Edmund Rice Network and the Brothers continued to carry out various forms of social and pastoral work in order to fulfil their individual Ministries. This work enables the charity to reach out to those in need within society generally and benefit a significant number of people.

derstood as requiring committed social outreach as well as faithsharing and prayer. The principal current expression of this commitment is outreach in the spirit of hroughthe-year support to:

International missionary work

During the financial year, the Trust made a donation of £20k (£15k 2024) to an NGO group called Dailit. This group works in Bangladesh to improve the social economic condition and the social position of socially excluded individuals and groups through education, health and income generating activities. The Trustees hope to support this NGO in the future.

Positive Impact Investing

Our Mission Driven Investment Approach

As investors, it can be easy to get caught up in simple financial return. However, investing is an extremely useful tool for not only generating financial returns but also creating an impact on the world around us. We see our investment portfolio as an extension of our Mission. Alongside our active ministries, we strive to create meaningful change through positive impact investing. At the same time, we actively avoid investments in industries that are contrary to our values, such as fossil fuels and armaments. By doing so, we ensure that our financial resources are not supporting harmful activities.

However, avoiding harm is only part of the equation. We believe that driving positive change through on opportunities that promote individual well-being and environmental sustainability. We assess our impact across key areas that reflect how our investments contribute to a better world. Below are some of the positive outcomes achieved through our investment portfolio:

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The Portfolio and the Sustainable Development Goals (SDGs)

Every investment within our portfolio is analysed to assess its contribution to the United Nations Sustainable Development Goals (SDGs). These goals, adopted by all UN member states, serve as a global blueprint for creating a more sustainable, equitable, and prosperous future.

protecting the environment, and improving overall well-being. They encourage governments, businesses, and investors to take meaningful action toward achieving these objectives by 2030. By aligning our investments with the SDGs, we ensure that our financial decisions are not only responsible but also actively driving positive change. Through this approach, we contribute to solutions that foster economic growth, social progress, and environmental sustainability. The 17 Sustainable Development Goals are as follows:

The Sustainable Development Goals (SDGs) closely align with the charitable missions and ethical principles upheld by religious organizations. Rooted in values of human dignity, social justice, and urgent challenges ~~m~~ any of which religious communities have long worked to combat.

inclusive dialogue about how we are shaping the future of responsibility to act urgently on issues such as climate change, inequality, and global poverty. Pope Francis has also voiced direct support for the SDGs, notably in his speech ahead of the United Nations General Assembly transformational vision of the SDGs, aligning them with the principles of integral human development the idea that progress must support both people and the planet.

By integrating the SDGs into investment strategies, faith-based organizations can actively contribute to a more just, sustainable, and compassionate world, ensuring that financial resources are directed toward initiatives that reflect their core values. To ensure alignment of the SDGs we use a comprehensive Ethical and Positive Impact screen which guarantees the Portfolio remains consistent with the ethos of the charity. The Portfolio currently excludes companies involved in the material production of weapons, tobacco, alcohol, pornography, and activities such as gambling and embryonic

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stem cell research. Additional Environmental, Social and Governance (ESG) criteria complements the screening to improve the overall ESG risk exposure of the Portfolio.

Environmental Impact Overall Carbon Footprint

Measurement of carbon emissions plays a critical role in shaping our understanding of how our investment portfolio affects the climate crisis, and also enables us to better address it. Additionally, limiting carbon emissions interacts with several SDGs, helping address Climate Action in particular. Climate justice is another aspect addressed in to contribute to pollution and have less resources to deal with it. Therefore, control of carbon emissions in our portfolio also contributes to reducing poverty (SDG1), reducing inequality (SDG10) and preserving life on land (SDG10) and in the ocean (SDG14)

The portfolio includes several carbon sink investments designed to capture and remove carbon dioxide (CO2) from the atmosphere. Among these, forestry stands out as a particularly effective solution, as trees naturally absorb CO2 during their growth process. As a result, the inclusion of forestry funds impact.

Put another way, this means that the Portfolio in aggregate will sequester (withdraw) 192 tonnes of CO2e (carbon dioxide or equivalent gases) from the atmosphere per annum while an unscreened portfolio of the same size would produce c. 1,466 tonnes of CO2e. We believe that these extremely strong carbon emission statistics makes the Portfolio very much part of the solution to climate change, rather than part of the problem.

Fossil Fuel Reserves

In early 2017, the Trustees made the decision to fully divest from fossil fuels, ensuring that the portfolio now holds no fossil fuel reserves. This policy guarantees that there is no direct exposure to companies involved in thermal coal, oil, natural gas, or other unconventional reserves, such as oil sands, shale oil, and shale gas.

A significant portion of these fossil fuel reserves is expected to become they may never be utilized if global efforts to limit temperature rise to below 2°C are successful. By avoiding these assets, the portfolio not only reinforces its commitment to environmental sustainability but also mitigates financial risks associated with stranded fossil fuel investments.

The chart below illustrates the fossil fuel reserves held within the portfolio compared to an unscreened portfolio. As shown, the portfolio holds zero fossil fuel reserves, reinforcing its dedication to supporting the global transition to sustainable energy. This approach ensures that investments align with the -driven strategy, actively contributing to the shift away from fossil fuels toward clean, renewable energy solutions.

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

bar)

Renewable Energy

As the transition to renewable energy is crucial in addressing climate change, impact-focused investors typically aim for a high level of renewable power generation within their portfolios.

In our portfolio, renewable energy production is supported through various investments across Ireland, Europe, the U.S., and developing regions. These investments play a vital role in advancing clean energy solutions while contributing to global sustainability goals.

Below, we highlight some of the key impact metrics of these renewable energy funds:

The benefit of generating renewable power can be measured by how much fossil fuel power (and resulting CO2 emissions) it replaces. In 2025, the Portfolio avoided the release of almost 1,052 tonnes of CO2e. This is equivalent to:

Removing 227 cars from the roads every year

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Environmental Protection and Carbon Sequestration

Environmental protection is a critical aspect of sustainability addressed by the Portfolio. The forestry investments within the Portfolio have a mandate to:

Social Impact

Job Creation

Providing employment is one of the best methods of reducing poverty, and therefore it has a number of positive beneficial effects across the SDGs, from poverty reduction (SDG1) to providing Decent Work and Economic Growth (SDG8). As the majority of the jobs created by the impact investments are in the developing world, and tend to favour women as much (if not more) than men, then job creation in these areas improves Gender Equality (SDG5) and Reduces Inequalities (SDG10), both between sexes and between the developed and developing regions of the world.

The Portfolio has a number of funds which provide job creation through their economic activity. The equity funds provide capital to companies that employ anywhere between hundreds to hundreds of thousands, and therefore additional capital from investors should enable these companies to create jobs, albeit that the job creation impact from additional investment in these typically large, established businesses is low. However, other funds that operate in the developing world tend to produce far higher job creation and comprise the majority of the additional jobs produced for the portfolio as a whole.

Homelessness Crisis

As of 2024, there were an estimated 14,000 homeless individuals in Ireland, indicating a dramatic rise of over 250% in the number of homeless families since 2015. This stark increase highlights the severe limitations in the availability of residential properties and a rapidly growing population. At the time of this report

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

  1. This population growth, coupled with increasing urbanization and economic pressures, has put enormous strain on the housing market.

In response to this urgent need for affordable housing, the portfolio has included the New Haven Social Housing Fund, which is specifically designed to address the chronic shortage of housing for vulnerable tainable, high-quality housing for those most in need, including low-income families, individuals facing homelessness, and other at-risk groups.

The following outlines the key goals of the New Haven Social Housing Fund , which works to mitigate the social and economic challenges posed by this growing crisis:

Care and Welfare of Members

Throughout the year the charity continued to assist members of the Congregation in their charitable and religious work. A number of members were cared for in the Cowper Care nursing care home in Ireland whilst the charity enabled other members to work and volunteer in their chosen ministry. In addition, the charity welcomes members from other Provinces to stay in England to allow them to study and acquire skills they can take back to their own Provinces.

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

FINANCIAL REVIEW

Results for the year

During the year, total incoming resources amounted to £1.7m (2024: £2.2m) Of the incoming resources, a total of £1.3m (2024: £1.8 independent schools, with other incoming resources accounting for £0.4m (2024: £0.4m). Investment income and interest receivable totalled £107k (2024: £98k), while donations and gifts totalled £34k (2024: £35k).

Resources expended totalled £3.2m (2024: £3.6m), with 99% (2024: 99%) being expended on direct 1.6m (2024: £2.1m). Expenditure incurred on maintaining the members of the Congregation and supporting them in their ministry and pastoral work amounted to £1.4m (2024: £1.4m). Mission support costs totalled £179k (2024: £89k) in the year. Expenditure on governance during the year was well controlled and amounted to £56k (2024: £52k).

Net outgoing resources for the year, therefore, were £1.5m. Investment gains of £18k, £13k of actuarial gains on the defined benefit pension scheme and £360k gain on disposal of fixed assets resulted in a net movement in funds for the year of (£1.1m).

Investment policy

income to promote the charitable objectives of the Trust, and to provide capital growth in the reserves over the medium term. They are invested with a medium risk investment strategy. The objectives for the investments are as follows:

The investment funds are under the management of Cantor Fitzgerald Ireland Ltd. As noted above, all funds have an ethical investment screen; they exclude companies that fall foul of certain ethical criteria, and in most cases favour stocks that provide positive benefits to society; these funds only hold ethos.

Reserves policy

At the end of the financial year, the total funds of the charity amounted to £6.5m (2024: £7.6m). Of this, £2.5m (2024: £2.7m) is represented by properties and other tangible fixed assets essential for the running of the charity. The Trustees have designated another £5.4m to provide for school and education funding, mission and ministry works and the care and welfare of the members. Details are given in note 19 of these Financial Statements. The Trustees review and reassess these designations on an on-going basis.

Un-designated or general funds amount to £1.1m. This equates to approximately 6 months of unrestricted charitable and its commitments, the level of free reserves should be approximately equal to between 4 and 8

21

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

FUTURE PLANS

The charity intends to continue to review its spending plans and needs and to make every effort to manage its existing assets as efficiently as possible in order to generate the income necessary to achieve the charity aims.

The Trustees intend to meet the following objectives:

STRUCTURE, GOVERNANCE AND MANAGEMENT

In terms of Civil Law, the charity is governed by an Amended Trust Deed dated 27 February 2015. The charity is registered with the Charity Commission in England and Wales (charity number 254312).

including any ex-officio Trustee and shall never be more than eight and on the occurrence of any vacancy reducing the Trustees to less than four a new Trustee or new Trustees shall be appointed as

In terms of Canon Law, the Congregation is governed at an international level by the Congregation Leader and the Leadership Team in Rome. They are elected every six years at a General Chapter. The European Province is governed by the Province Leader and the Province Leadership Team, who are nominated by members of the European Province. Members of the Province Leadership Team are chosen for their personal qualities, their understanding and experience of the ministries of the Brothers and to secure a good skills mix among them. Each Community in the Province is governed by a local leader, who is appointed by the Province Leader. The Province Leadership Team visits each Community at least once a year and throughout the year there is a system of accountability operational throughout the Province to help to ensure that the Province Leadership Team are aware of the progress and development of the ministries carried out in the name of the Province.

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Appointment and Training of Trustees

The statutory power of appointing new or additional Trustees is vested in the Province Leader. Trustees are chosen for their personal qualities and their understanding and experience of the ministries throughout the Province. To date, the Trustees have been members of the European Province of the Congregation and as such they will already be well informed about the Mission, governing documents and strategic planning and history of the charity.

When a new Trustee is appointed they are given a copy of the Amended Trust Deed and the Charity they are given an outline of their responsibilities and continuing obligations.

Organisational Structure

The Trustees are ultimately responsible for the policies, activities and assets of the charity. They meet on a regular basis to review developments with regard to the Charity and its activities. When sors.

The day to day running of the Academies is delegated to Governing Bodies appointed according to the statutory framework and instruments of government for state-funded schools. The day to day running of the Independent Preparatory Schools is delegated to Governing Bodies, in accordance with the instruments of government provided by the Trustees. The Trustees receive regular financial and educational reports from all the Boards of Governors and Headteachers of the schools.

The Independent School Governors and the Foundation Governors in the state-funded schools are appointed by the Trustees for a given term of years and may be re-appointed when their term ends.

Risk Management

The Trustees undertake a full risk assessment on an annual basis and monitor progress on a annual basis. This process is supported by the Finance Office, who works closely with the Trustees in this area. The Trustees identified the following as being the principal risks to which the Charity is exposed:

Governance and management: considers the efficiency of the Trustee body. Risks considered include a lack of planning, a Trustee body which lacked sufficient skills or appropriate decision making procedures. Such risks could include a lack of training / induction or poor stewardship of resources human, financial and property. The Trustees have addressed these risks by operating both annual and longer term plans, holding regular Trustee meetings which include the monitoring of actual performance against these plans, having meaningful induction / handover for incoming Trustees, attending Trustee training days, seeking third party advice as required, etc.

Financial: considers the financial capacity of the Charity and ensuring it has the available financial resources to continue to carry out its activities both now and in the years ahead. This incorporates the management of the operating (day-to-day) position, capital or building requirements and the returns tigated in a variety of ways, including budgeting, the setting of an investment strategy / investment objectives that consider diversity, prudence and liquidity criteria, regular financial and investment reporting against budget, cash-flow planning, the appointment of Stewardship advisors where necessary.

Age Profile: considers the ageing population of the members of the Congregation of Christian Brothers English Province which is supported by the Charity. This incorporates the review of the training, skillsets and energy of the Brothers in a leadership, Ministry or Mission role. The risks are mitigated through training, Trustee visitation to each Community, regular Province meetings, healthcare reviews and rotating Brothers in different roles and the sharing of knowledge. The Trustees invest time, energy and allocate resources to ensure the continuing of the Charity both now and into the future. This can also include the involvement of lay people to support the Brothers and the involvement of professional advisors in relation to stewardship advice to the Trustees.

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Statement of

responsibilities

The Trustees of the Charity are required to prepare for each financial year accounts which give a true and fair view of the state of affairs of the Charity and of the source and application of resources of the Charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity, and to enable them to ensure that the financial statements comply with the statutory requirements. The Trustees are conscious of their responsibility for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the Trustees are aware, there is no relevant audit information of which the are unaware, and each Trustee has taken all the steps that he or she ought to have taken as a Trustee in order to make himself or herself aware of any relevant audit information and to establish that the

Auditors

A resolution to re-appoint Forvis Mazars LLP as auditors to the Charity will be proposed to the forthcoming Trustee Meeting.

Approved by the Trustees on

and signed as authorised on their behalf by:

24

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

INDEPENDENT REPORT TO THE TRUSTEES OF THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS

Opinion

We have audited the financial statements of The English Province of the Congregation of Christian 5 which comprise Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and Practice).

In our opinion, the financial statements:

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and the charity in accordance with the ethical requirements that are relevant to our audit of the financial responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

25

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements 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 this gives rise to a material misstatement in the financial statements 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 light of the knowledge and understanding of the charity and its environment obtained in the course

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

Responsibilities of Trustees

As explained more fully in the responsibilities statement set out on page 24, the trustees are responsible for the preparation of the financial statements 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 financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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.

responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2022 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole 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 the financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

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.

26

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Based on our understanding of the charity and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax and pension legislation.

In addition, we evaluated the and incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to income recognition (which we pinpointed to the cut-off assertion), restriction over the use of funds, defined benefit pension scheme disclosures, historical provisions and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the www.frc.org.uk/auditorsresponsibilities. This description forms part of

27

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

Use of the audit report

Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state

report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume rustees as a body for our audit work, for this report, or for the opinions we have formed.

For and on behalf of Forvis Mazars LLP

Chartered Accountants and Statutory Auditor

5[th] Floor

3 Wellington Place Leeds LS1 4AP

Date:

Forvis Mazars LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under Section 1212 of the Companies Act 2006.

28

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 August 2025

INCOME:
Note
Unrestricted
funds
£
Donations and legacies
3
33,730
Investment income
4
107,311
Income from charitable activities
Operation of the schools
5
1,266,437
Other income
Total income
6
277,444
1,684,922
EXPENDITURE ON:
7
Raising funds
22,657
Charitable activities
Total expenditure:
3,150,603
3,173,260
Net (expenditure)/income
(1,488,338)
Transfers between funds
17/18
-
Net (expenditure)/income after transfers
(1,488,338)
Net (losses) / gains on investments
11
17,568
Net gain on disposal of fixed assets
360,244
Other recognised (losses)/gains
Actuarial (losses)/gains on defined benefit
pension scheme
22
13,000
Net movement in funds
(1,097,526)
Reconciliation of funds
Total funds brought forward
7,606,241
Total funds carried forward
6,508,715		 INCOME:
Note
Unrestricted
funds
£
Donations and legacies
3
33,730
Investment income
4
107,311
Income from charitable activities
Operation of the schools
5
1,266,437
Other income
Total income
6
277,444
1,684,922
EXPENDITURE ON:
7
Raising funds
22,657
Charitable activities
Total expenditure:
3,150,603
3,173,260
Net (expenditure)/income
(1,488,338)
Transfers between funds
17/18
-
Net (expenditure)/income after transfers
(1,488,338)
Net (losses) / gains on investments
11
17,568
Net gain on disposal of fixed assets
360,244
Other recognised (losses)/gains
Actuarial (losses)/gains on defined benefit
pension scheme
22
13,000
Net movement in funds
(1,097,526)
Reconciliation of funds
Total funds brought forward
7,606,241
Total funds carried forward
6,508,715		 INCOME:
Note
Unrestricted
funds
£
Donations and legacies
3
33,730
Investment income
4
107,311
Income from charitable activities
Operation of the schools
5
1,266,437
Other income
Total income
6
277,444
1,684,922
EXPENDITURE ON:
7
Raising funds
22,657
Charitable activities
Total expenditure:
3,150,603
3,173,260
Net (expenditure)/income
(1,488,338)
Transfers between funds
17/18
-
Net (expenditure)/income after transfers
(1,488,338)
Net (losses) / gains on investments
11
17,568
Net gain on disposal of fixed assets
360,244
Other recognised (losses)/gains
Actuarial (losses)/gains on defined benefit
pension scheme
22
13,000
Net movement in funds
(1,097,526)
Reconciliation of funds
Total funds brought forward
7,606,241
Total funds carried forward
6,508,715		 Restricted
funds
£
-
-
15,154
-
15,154
-
25,959
25,959
(10,805)
-
(10,805)
-
-
-
(10,805)
28,527
17,722		 Restricted
funds
£
-
-
15,154
-
15,154
-
25,959
25,959
(10,805)
-
(10,805)
-
-
-
(10,805)
28,527
17,722		 Total
2025
£
33,730
107,311
1,281,591
277,444
1,700,076
22,657
3,176,562
3,199,219
(1,499,143)

-
(1,499,143)

17,568
360,244
13,000
(1,108,331)
7,634,768
6,526,437		 Total
2024
£
35,094
97,962
1,804,036
276,469
2,213,561
28,583
3,577,216
3,605,799
(1,392,238)
-
(1,392,238)
(102,196)
687,234
22,000
(785,200)
8,419,968
7,634,768
25,959
(10,805)
-
(10,805)
-
-
-
(10,805)
28,527
17,722
(1,097,526)
7,606,241
6,508,715

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

29

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

BALANCE SHEET
AS AT 31 AUGUST 2025
Note
FIXED ASSETS
Tangible fixed assets
10
Investments
11
Total fixed assets
CURRENT ASSETS
Debtors falling due within one year
12
Debtors falling due in more than one year
12
Cash at bank and in hand
Total current assets
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
PROVISIONS FOR LIABILITIES
15
NET ASSETS EXCLUDING PENSION LIABILITY
Defined benefit pension scheme liability
22
TOTAL NET ASSETS
FUNDS OF THE CHARITY
Restricted funds
17
Unrestricted funds
18
Pension reserve
22
TOTAL CHARITY FUNDS		 2025
£
2,475,621
4,736,495
7,212,116
150,420
87,500
1,142,300
1,380,220
(528,300)
851,920
8,064,036
(1,037,599)
(500,000)
6,906,437
-
6,526,437
17,722
6,508,715
-
6,526,437		 2024
£
2,658,138
6,137,760
8,795,898
331,832
137,000
856,458
1,325,290
(777,213)
548,077
9,343,975
(994,207)
(715,000)
7,634,768
-
7,634,768
28,527
7,606,241
-
7,634,768

Approved by the Trustees

and signed as authorised on their behalf by

30

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

STATEMENT OF CASH FLOWS

For the year ended 31 August 2025

Note
Cash used in operating activities
21
Cash flows from investing activities
Investment income
Purchase of investments
Sale of investments
Cash movement on investments
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash provided by investing
activities
Increase in cash and cash equivalents in
the year
Cash and cash equivalents at the beginning of
the year
Total cash and cash equivalents at the end of
the year
Cash and cash equivalents
Cash at bank and in hand at 31 August
Overdraft at 31 August
Total cash and cash equivalents		 2025
£
(1,707,227)
107,311
(922,602)
2,336,877
94,797
(24,840)
401,526

1,993,069
285,842
856,458
1,142,300
1,142,300
-
1,142,300		 2024
£
(998,779)
97,962
(2,969,035)
1,929,870
1,277,853
(12,076)
700,500

1,025,074
26,295
830,163
856,458
856,458
-
856,458

31

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared in accordance with Statement of Recommended Practice (SORP 2019) and Reporting by effective 1 January 2019 and applicable Accounting Standards in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The English Province of the Congregation of Christian Brothers Trustees meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements have been prepared in Pound Sterling as this is the currency of the primary economic environment in which the Charity operates.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Charities Statement of Recommended Practice (FRS 102) in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the has since been withdrawn.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all charities. In response to such conditions, the Trustees have carefully considered these risks, included an assessment of uncertainty on future forecasts for a period of at least 12 months from the date of signing the financial statements, and to the extent to which they might affect the preparation of the financial statements on a going concern basis.

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and have not identified any material uncertainties within their review. They are satisfied that given the cash position of the charity and the recovery of the investment portfolio, that it is appropriate for the financial statements to be prepared on a going concern basis.

They therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Fixed assets

balance sheet at an aggregate nominal value of £1. Building work completed more recently has been capitalised at cost. Consequently, the balance sheet does not reflect the full value of the freehold land and buildings used by the Charity and the charge to the Statement of Financial Activities for depreciation excludes any amount in respect of the assets in question.

Property used by the academy schools is classified as a programme related social investment as any financial return obtained is not a primary reason for making the investment in that the property is held specifically to enable the schools to undertake particular activities using the property that contribute to the charitable purposes.

Depreciation

Depreciation is provided to write off assets over their useful economic lives at the following rates: Freehold land and buildings 2% straight line Fixtures, fittings and office equipment 15% reducing balance Motor vehicles 25% reducing balance

Social investments

Social investments are stated at cost less depreciation. Social investments consist of premises relating to the four academy schools.

Operating leases payable

Rentals payable under operating leases are charged on a straight-line basis over the term of the lease.

Operating leases receivable

Assets leased out under operating leases are included within the freehold properties and are depreciated over their useful life. Rental income from operating leases is recognised on a straight-line basis over the term of the lease.

32

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

1. ACCOUNTING POLICIES (continued)

Investments

Investments are included at market value at the year end. Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Financial Activities.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Foreign currency

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

Pension costs

A multi-employer defined benefit scheme was closed to future accrual of benefit on 31 October 2010. Up to and including the year ended 31 August 2013, the Charity could not identify its share of the underlying assets and liabilities on a consistent and reasonable basis. Therefore, in accordance with FRS17, payments to the scheme were accounted for as for a defined contribution scheme. A creditor was, however, recognised in respect of an agreed deficit recovery plan.

During the year ended 31 August 2014, the Charity entered into a Deed of Amendment and Apportionment in relation to this scheme which resulted in there being only one employer (the Charity) and therefore the multiemployer exemption is no longer applicable. Accordingly, the scheme is now accounted for as a defined benefit scheme as detailed in note 22.

Financial Activities so as to spread the cost of the pensions over the remaining service lives of employees in the scheme. The pension charge is calculated on the basis of actuarial advice.

The Charity also contributes to the Teachers' Pension Scheme at rates set by the Scheme Actuary and advised to the Trustees by the Scheme Administrator. This scheme is treated as a multi-employer defined benefit scheme and contributions are accounted for as a defined contribution scheme.

Educational income

Fees receivable are accounted for in the period in which the service is provided.

Donations

Donations receivable are credited to the Statement of Financial Activities in the period to which they relate, generally the earlier of notification or receipt.

Legacies

Legacies receivable are credited to the Statement of Financial Activities in the period to which they relate, when the relevant recognition criteria has been met.

Investment income

Investment income is accounted for in the period in which the Charity is entitled to receipt.

Province Support Programme

This consists substantially of pensions received by the Charity on behalf of the Christian Brothers. The corresponding living costs of Christian Brothers are included under Province Support.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis. Support costs have been allocated to the main charitable activities in accordance with the total direct costs of those activities. Governance costs include those costs incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements. Expenditure on raising funds comprises investment management fees. Redundancy costs are recognised when incurred.

Fund accounting

Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are income received or generated for expenditure on the general objectives of the Charity. Designated funds are unrestricted funds which have been designated for specific purposes by the Trustees.

33

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

1. ACCOUNTING POLICIES (continued) Financial instruments

2. JUDGEMENTS IN APPLYING THE ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In ap assumptions in determining the carrying amount of assets and liabilities. The judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the outcomes may differ.

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 revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the

accounting policies

The critical judgement that the have made in the process of applying the accounting policies that have the most significant effect on the amounts recognised in the financial statements is discussed below.

i) Assessing indicators of impairment for trade receivables

In assessing whether there have been any indicators of impairment of assets, the Trustees have considered both internal and external sources of information such as market conditions and experience of recoverability. There have been no indicators of impairment identified during the current financial year.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

i) Recoverability of receivables

The charity establishes a provision for receivables that are estimated to not be recoverable. When assessing consider factors such as the ageing of receivables, past experience of recoverability, and the credit profile of individuals.

ii) Determining residual values and useful economic lives of property, plant and equipment

The charity depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations over future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation and maintenance programmes.

iii) Provisions

The charity provides for potential litigation payments in respect of historical abuse claims. This is done in settled claims and therefore requires some judgement from management.

34

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

2. JUDGEMENTS IN APPLYING THE ESTIMATION UNCERTAINTY (continued)

ACCOUNTING POLICIES AND KEY SOURCES OF

(iv) Pensions

The charity operates a defined benefit pension fund. This means that the charity has an obligation to pay pension benefits to certain former employees. The cost of these benefits and the present value of the associated obligation depend on a number of factors, including:

The charity uses an independent actuary to help determine reasonable estimates for these factors in determining the net pension obligation in the balance sheet. The assumptions reflect historical experience and current trends. See note 22 for the disclosures relating to the defined benefit pension scheme.

3. INCOME FROM DONATIONS AND LEGACIES

Donations and legacies
4.
INVESTMENT INCOME
Investment income
Bank interest
5.
INCOME FROM OPERATION OF THE SCHOOLS
Fee income
Education related income
6.
OTHER INCOME
Earned income
Sundry income
Rent receivable in respect of operating leases
Other income		 2025
£
33,730
33,730
2025
£
105,331
1,980
107,311
2025
£
1,168,048
113,543
1,281,591
2025
£
192,043
68,489
16,608
304
277,444		 2024
£
35,094
35,094
2024
£
97,962
-
97,962
2024
£
1,577,752
226,284
1,804,036
2024
£
194,891
64,925
16,653
-
276,469

35

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

7. ANALYSIS OF TOTAL EXPENDITURE

Raising funds
Staff costs (note 8)
Living allowances
Nursing homes
Governance costs (note 9)
Donations
Administration
Premises
Teaching goods
Services
Depreciation & impairment (note 10)
Ministry costs		 Operation
of schools
-
1,016,643
-
-
-
-
207,643
137,677
31,191
62,253
101,493
-
1,556,900		 Province
support
£
Mission
support
£
Total
2025
£
Total
2024
£
22,657
-
22,657
28,583
162,831
-
1,179,474
1,818,919
160,831
-
160,831
241,980
43,981
-
43,981
64,200
55,680
-
55,680
51,745
-
178,787
178,787
88,866
766,592
-
974,234
682,046
-
-
137,677
156,536
-
-
31,191
68,903
-
-
62,253
68,336
46,357
-
147,850
149,143
204,603
-
204,603
186,542		 Province
support
£
Mission
support
£
Total
2025
£
Total
2024
£
22,657
-
22,657
28,583
162,831
-
1,179,474
1,818,919
160,831
-
160,831
241,980
43,981
-
43,981
64,200
55,680
-
55,680
51,745
-
178,787
178,787
88,866
766,592
-
974,234
682,046
-
-
137,677
156,536
-
-
31,191
68,903
-
-
62,253
68,336
46,357
-
147,850
149,143
204,603
-
204,603
186,542
1,463,532 178,787
3,199,219
3,605,799

8. STAFF COSTS

STAFF COSTS
Gross wages
Social security costs
Pension costs
Redundancy
Pension deficit funding
Average number of employees		 2025
£
860,659
83,277
140,933
94,605
-		 2024

£

1,352,183
116,497
242,094
108,145
-
1,179,474 1,818,919
2025
33
2024

56

There was one employee (2024: no employees) who received remuneration between £60,000 - £70,000 in the year.

During the year the charity incurred redundancy costs of £94,605 (2024: £108,145). Amounts outstanding in respect of redundancy costs as at 31 August 2025 total £nil (2024: £nil).

The Trustees comprise Christian Brothers who, in common with the non-Trustee Brothers, are provided with living accommodation and daily essentials by the Charity.

The Trustees consider that they and the Heads, Chairs and Governors of the two Independent Preparatory Schools along with the Schools Officer and Coordinator of the Edmund Rice Network comprise the key management of the Charity in charge of directing and controlling, running and operating the charity on a day to day basis. The Trustees are members of the Congregation of Christian Brothers - English Province and whilst their living and personal expenses are borne by the charity they receive no remuneration in connection with their duties as Trustees. Similarly the Boards of Governors receive no remuneration in connection with their duties as Governors. Expenses relating to travel and other costs of £nil (2024: £nil) were reimbursed to no (2024: none) Trustees.

Remuneration of the Heads is reviewed regularly by the Board of Governors while the remuneration of the Schools Officer is reviewed regularly by the Trustees.

The total employee benefits of the key management personnel in 2025 was £214,579 (2024: £201,137).

36

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

9.
GOVERNANCE COSTS
remuneration
- audit
- non-audit
Other legal and professional advisory		 2025
£
2024
£
37,900
38,500
13,105
6,425
4,675
55,680
6,820
51,745
10. TANGIBLE FIXED ASSETS
COST
Balance as at 1 September 2024
Additions
Disposals
Transfers
Balance as at 31 August 2025
ACCUMULATED DEPRECIATION
Balance as at 1 September 2024
Charge for year
Disposals
Transfers
Balance as at 31 August 2025
NET BOOK VALUES
As at 31 August 2025
As at 31 August 2024		 Freehold
Land &
Buildings
£
5,708,801
-
(228,259)
-
5,480,542
3,146,776
113,657
(189,229)
-
3,071,204
2,409,338
2,562,025		 Fixtures,
Fittings &
Equipment
£
1,118,763
5,692
(203,549)
-
920,906
1,027,675
27,135
(184,341)
-
870,469
50,437
91,088		 Motor
Vehicles
£
72,469
19,148
(35,972)
-
55,645
67,444
7,056
(34,701)
-
39,799
15,846
5,025		 Total
£
6,900,033
24,840
(467,780)
-
6,457,093
4,241,895
147,848
(408,271)
-
3,981,472
2,475,621
2,658,138

The net book value at 31 August 2025 represents fixed assets used for:

Direct charitable purposes:
Schools
Other support		 Freehold
Land &
Buildings
£
1,376,707
1,032,631
2,409,338		 Fixtures,
Fittings &
Equipment
£
50,437
-
50,437		 Motor
Vehicles
£
-
15,846
15,846		 Total
£
1,427,144
1,048,477
2,475,621

37

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

10. TANGIBLE FIXED ASSETS (Continued)

Of the assets noted above, the following represents fixed assets used for social investments:

Social investments:
Schools
11. FIXED ASSET INVESTMENTS
Investments:
Market value at 31 August 2024
Less: disposals at opening book value
Add: purchases at cost

Cash movements

Investment income
Less: Losses on investment
Market value at 31 August 2025
A summary of the investments held is shown below:
Unit trusts		 2025
£
721,192

721,192
6,137,760
(2,388,985)
1,121,826
(256,922)
105,248
4,718,927
17,568
4,736,495
801,758

At 31 August 2025 the charity held investments representing over 10% of the total portfolio in the following entities:

% holding
Setanta Ethical Global Equity Fund 18.7%
iShares MSCI World Socially Responsible ETF 18.4%

38

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

12. DEBTORS
Due within one year:
Trade debtors
Other debtors and prepayments
Other loan
Due after one year:
Other debtors
13. CREDITORS
Due within one year:
Trade creditors
Bank overdraft
Tax and social security
Sundry creditors and accruals
Deferred income (note 14)
Due after one year:
Deferred income (note 14)
14. DEFERRED INCOME
Balance as at 1 September
Amount released to income
Amounts returned to parents
Amount deferred in the year
Balance as at 31 August		 2025
£
61,267
39,153
50,000		 2024
£
167,108
114,224
50,500
150,420 331,832
87,500 137,000
87,500 137,000
2025
£
71,457
-
57,417
116,295
283,130		 2024
£
15,451
-
24,600
219,370
517,792
528,300 777,213
2025
£
1,037,599		 2024
£
994,207
1,037,599 994,207
2025
£
1,511,999
(517,792)
-
326,522		 2024
£
1,193,105
(287,290)
-
606,184
1,320,729 1,511,999

Deferred income comprises payments in advance for school fees and lease rentals received in advance.

39

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

15. PROVISIONS

PROVISIONS
At 1 September
New provisions in the year
Increase in provisions in the year
Utilised during the year
Provisions reversed in the year
At 31 August
The above provisions related to ongoing legal cases.		 Total
£
715,000
380,000
-
(595,000)
-
500,000

16. FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost
Cash at bank and in hand
Financial liabilities measured at amortised cost		 2025
£
208,239
1,142,300
117,335		 2024
£
432,668
856,458
80,743

Financial assets measured at amortised cost comprise trade and other debtors. Financial liabilities measured at amortised cost comprise trade and other payables

17. RESTRICTED FUNDS

Education in Africa
Maintenance of graves
School trips		 Balance at
31.08.24
£
10,500
1,000
17,027
28,527		 Income Expenditure
£
£
-
-
-
-
15,154
(25,959)
15,154
(25,959)		 Transfers
£
-
-
-
-		 Balance at
31.08.25
£
10,500
1,000
6,222
17,722

The Education in Africa fund represents funds received and thus to be expended for that purpose. The Maintenance of graves fund represents a donation received specifically for that purpose. The school trips reserve is used to cover costs of trips run as part of school operations.

40

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

18. UNRESTRICTED FUNDS

18. UNRESTRICTED FUNDS
Designated Funds
CCB Designated Fund 1
CCB Designated Fund 2
CCB Designated Fund 3
CCB Designated Fund 4
St Joseph Designated Fund
Total Designated Funds
General Funds
Total Unrestricted Funds		 Balance at
31.08.24
Income
Expenditure
& Gains/
(losses)
Transfers
Balance at
31.08.25
£
£
£
£
£
2,658,138
-
(147,848)
(34,669)
2,475,621
847,221
21,462
-
-
868,683
201,348
35,812
(769,030)
750,000
218,130
2,313,897
258,688
(204,812)
(500,000)
1,867,773
36,357
-
-
(36,357)
-
6,056,961
315,962
(1,121,690)
178,974
5,430,207
1,549,280
1,368,960
(1,660,758)
(178,974)
1,078,508
7,606,241
1,684,922
(2,782,448)
-
6,508,715

The Trustees have designated funds equating to the following:

Designated Fund 1 total of the tangible fixed assets and work in progress costs of the Charity. Designated Fund 2 Mission and Ministry Funding. This fund exists to support the non-educational Mission and Ministry activities of the Trust over the next decade.

Designated Fund 3 schools/educational funding. This represents working capital needed by the schools together with a provision for the shortfall in the non-teaching staff pension scheme over the next decade. Designated Fund 4 amount committed for the care and welfare of the Pro decade.

St Designated Fund relates to funds held by the school for specific extra-curricular activities.

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
£
Fund balances at 31 August 2025 are represented by:
Tangible fixed assets
2,475,621
Investments
4,736,495
Current assets
1,362,498
Creditors
(1,565,899)
Provisions
(500,000)
Pension deficit
6,508,715
Unrestricted
Funds
£
Fund balances at 31 August 2024 are represented by:
Tangible fixed assets
2,658,138
Investments
6,137,760
Current assets
1,296,763
Creditors
(1,771,420)
Provisions
(715,000)
Pension deficit
-
7,606,241		 Restricted
Funds
£
-
-
17,722
-
-
17,722
Restricted
Funds
£
-
-
28,527
-
-
-
28,527		 Total
£
2,475,621
4,736,495
1,380,220
(1,565,899)
(500,000)
6,526,437
Total
£
2,658,138
6,137,760
1,325,290
(1,771,420)
(715,000)
-
7,634,768

41

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

20. LEASING

At 31 August 2025 the charity had no non-cancellable operating leases where the charity was the lessee.

At 31 August 2025 the charity had entered into operating lease agreements acting as lessor. The following amounts are due to be received within the following time periods:

Within one year
Between two and five years
In over five years		 2025
£
90,000
360,000
390,000
840,000		 2024
£
90,000
360,000
480,000
930,000

21. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025
£
Net expenditure for the period
(1,108,331)
Adjustments in respect of:
Depreciation charges
147,848
Impairment charges
-
Investment income
(107,311)
Investment (losses) / gains
(2,558)
Net (loss) / profit on disposals of fixed assets
(342,018)
Decrease in stock
-
Decrease / (Increase) in debtors
230,912
(Decrease) / Increase in creditors
(205,521)
Pension adjustment
-
Foreign exchange movement on investments
(105,248)
Increase / (decrease) in provisions
(215,000)
(1,707,227)		 2024
£
(785,200)
149,147
-
(97,962)
102,198
(687,733)
-
(61,732)
220,347
-
(97,844)
260,000
(998,779)

42

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

22. PENSION COMMITMENT AND OTHER POST RETIREMENT BENEFITS

Defined Benefit Pension Scheme

The Charity operated a defined benefit scheme in the UK. The last full actuarial valuation was carried out at 5 April 2011 by a qualified independent actuary. The scheme was closed to future accrual of benefit on 31 October 2010.

Up to and including the year ended 31 August 2013, the Charity could not identify its share of the underlying assets and liabilities on a consistent and reasonable basis. Therefore, in accordance with FRS102 Section 28 - contribution scheme. A creditor was, however, recognised in respect of an agreed deficit recovery plan.

During the year ended 31 August 2014, the Charity entered into a Deed of Amendment and Apportionment in relation to this scheme which resulted in there being only one employer (the Charity) and therefore the multiemployer exemption is no longer applicable. Accordingly, the scheme is now accounted for under FRS102 Section 28 as a defined benefit scheme as detailed below.

On 26 October 2018, the High Court handed down a judgement involving the Lloyds Banking defined benefit pension schemes. The judgement concluded the schemes should be amended to equalise pension The Government will need to consider this outcome in conjunction with the recent consultation on GMP indexation in public sector schemes before concluding on any changes required to LGPS schemes.

The major assumptions used by the actuary were:

31 August 2025 31 August 2024
Rate of increase in salaries per annum N/A N/A
Rate of increase in inflation linked pensions in payment per
annum 3.25% 3.35%
Expected rate of return on the plan assets 3.75% 3.75%
Discount rate per annum 5.95% 4.95%
Inflation assumption per annum 3.25% 3.35%
Mortality table pre-retirement AM/F00 AM/F00
Mortality table post retirement 100% S3PA 100% S3PA
CMI2024 (1.25%) CMI2023 (1.25%)

The assets in the scheme were:

31 August 2025 31 August 2025 31 August 2024
Value Value
Equities 54 259
Bonds 4,447 4,913
Cash 124 146
Total fair value of assets 4,625 5,318
Present value of funded obligations (3,654) (4,158)
Total surplus/(deficit) 971 1,160

As per section 28.22 of FRS 102 a defined benefit plan asset shall only be recognised to the extent that the Charity is able to recover the surplus. Given there is no expectation the surplus will be recovered, the asset has not been recognised on the balance sheet.

43

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

22. PENSION COMMITMENT AND OTHER POST RETIREMENT BENEFITS (continued)

Analysis of gain included in Statement of Financial Activities:

31 August 2025 31 August 2024
Gain/(loss) on scheme assets and obligations (176) (134)
(Gain)/loss on notional surplus not recognised 189 156
Net amount recognised in other comprehensive income 13 22

Reconciliation of change in defined benefit obligation:

31 August 2025 31 August 2025 31 August 2024
Opening defined benefit obligation 4,158 3,996
Interest cost 200 204
Actuarial losses/(gains) on obligation (446) 183
Benefits paid (258) (225)
Past service cost - -
Closing defined benefit obligation 3,654 4,158
econciliation of change in plan assets:
31 August 2025 31 August 2024
Opening fair value of plan assets 5,318 5,312
Expected return on plan assets 255 271
Actuarial gains on assets (622) 49
Contributions paid by the employer - -
Benefits paid (258) (225)
Pension scheme expenses (68) (89)
4,625 5,318
mounts for the current and previous four periods:
2025 2024 2023 2022 2021
Defined benefit obligation (3,654) (4,158) (3,996) (4,660) (6,577)
Plan assets 4,625 5,318 5,312 6,297 7,170
Surplus/(deficit) 971 1,160 1,316 1,637 593

Reconciliation of change in plan assets:

Amounts for the current and previous four periods:

Based on the current Schedule of Contributions, the Charity expects to pay contributions in the region of £316k to the scheme during the next accounting period.

44

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

22. PENSION COMMITMENT AND OTHER POST RETIREMENT BENEFITS (continued)

Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pensions Regulations 2010, and, from 1 April 2014, by the Pension Scheme Regulations 2014. These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.

Teachers' pension budgeting and valuation account

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the These regulations apply to teachers in schools, colleges and other educational establishments. Membership is automatic for teachers and lecturers at eligible institutions. Teachers and lecturers are able to opt out of the TPS.

these contributions, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Act. Retirement and other pension benefits are paid by public funds provided by Parliament.

Under the definitions set out in FRS 102 (28.11), the TPS is a multi-employer pension plan. The Charity is unable to identify its share of the underlying assets and liabilities of the plan.

Accordingly, the charity has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined-contribution plan. The School has set out above the information available on the plan and the implications for the School in terms of the anticipated contribution rates.

The valuation of the TPS is carried out in line with regulations made under the Public Service Pension Act 2013. Valuations credit in notional investments that produce that real rate of return.

The latest actuarial review of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education (the Department) in April 2019. The valuation reported total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218 billion, and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £198 billion giving a notional past service deficit of £22 billion.

As a result of the valuation, new employer contribution rates were set at 23.68% of pensionable pay from September 2019 onwards (compared to 16.48% during 2018/19). DfE has agreed to pay a teacher pension employer contribution grant to cover the additional costs during the 2019-20 academic year.

A full copy of the valuatio Scheme website.

23. CUSTODIAN TRUSTEE HOLDINGS

The Trustees hold certain investments and bank accounts as custodian Trustee holdings only. The assets, totalling £162,958 at 31 August 2025 (2024: £162,042) are held securely and separately from those of the Trustees who are responsible for their safe custody. sheet.

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THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

24. POST BALANCE SHEET EVENTS

There have been no disclosable post balance sheet events.

25. RELATED PARTIES

During the year the Trustees were involved with the following related party transactions:

Related party Related party Related party Lease Contributions Reimbursement Donations Outstanding Outstanding
payments by colleges to of costs incurred made to the at 31 August at 31 August
received programmes college 2025 2024
£ £ £ £ £ £
St Ambrose College - - - - - -
St College 30,000 - - - - -
St College - - - - - -
St College 30,000 - - - - -

Related party relationships

The four colleges named above are considered to represent related parties due to either the English Province itself or certain of its Trustees being members of the colleges, together with the English Province having the ability to appoint a number of college governors.

The Trustees have taken the view that it would not be appropriate to consolidate the accounts of the academy trusts under FRS 102 as the Academies must abide by strict financial and operating provisions laid down by the Department for Education and these amount to severe long term restrictions.

The Trustees comprise Christian Brothers who, in common with the non-Trustee Brothers, are provided with living accommodation and daily essentials by the Charity.

During the year the Trustees, similar to the non-Trustee Christian Brothers, donated all of their earned income by perpetual gift aid to the Charity. In the year to 31 August 2025 this amounted to £84,616 (2024: £96,000). Similarly, as stated in Note 8, the Trustees have their living and personal expenses borne by the Charity and they receive no remuneration in connection with their duties as Trustees. No expenses relating to travel and other costs were reimbursed to Trustees in either 2025 or 2024.

The Charity has also had transactions in the year with CCB Northern Ireland Trust. During the year the Charity recharged the Northern Ireland Trust £13,864 representing expenses incurred on their behalf (2024: £12,298). At the year end the amount owed to the Charity was £22,764 (2024: £8,900). This is linked to the Charity as Br D Gibson is a Trustee of CCB Northern Ireland Trust as well as the English Trust.

The Charity also had transactions in the year with Congregation of Christian Brothers European Province - -ROI), a Charity registered in the Republic of Ireland. At 31 August 2025 there were no outstanding amounts (2024: debtor of £72,352) by CCBEP-ROI representing expenses incurred & recharged.

46

THE ENGLISH PROVINCE OF THE CONGREGATION OF CHRISTIAN BROTHERS TRUSTEES Financial Statements

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025

26. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

INCOME:
Note
Unrestricted
funds
£
Donations and legacies
3
35,094
Investment income
4
97,962
Income from charitable activities
Operation of the schools
5
1,770,598
Other income
Total income
6
276,469
2,180,123
EXPENDITURE ON:
7
Raising funds
28,583
Charitable activities
Total expenditure:
3,556,857
3,585,440
Net expenditure
(1,405,317)
Transfers between funds
17/18
-
Net expenditure after transfers
(1,405,317)
Net gains/(losses) on investments
11
(102,196)
Net gain on disposal of fixed assets
687,234
Other recognised (losses)/gains
Actuarial (losses)/gains on defined benefit
pension scheme
22
22,000
Net movement in funds
(798,279)
Reconciliation of funds
Total funds brought forward
8,404,520
Total funds carried forward
7,606,241		 Restricted
funds
£
-
-
33,438
-
33,438
-
20,359
20,359
13,079
-
13,079
-
-
-
13,079
15,448
28,527		 Total
2024
£
35,094
97,962
1,804,036
276,469
2,213,561
28,583
3,577,216
3,605,799
(1,392,238)
-
(1,392,238)
(102,196)
687,234
22,000
(785,200)
8,419,968
7,634,768		 Total
2023
£
3,095
71,018
1,760,969
322,059
2,157,141
30,132
2,991,483
3,021,615
(864,474)
-
(864,474)
(226,774)
-
-
(1,091,248)
9,511,216
8,419,968

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