2024-08-31-accounts

Reglstered number: 01400984 Charlty number: 277077 ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarante9} CONTENTS Page Reference and admlnlstratlve detalls of the Company. Its Trustees and advlsers Trustees. report Trustees. rnsponsibillties $tatemenl Independent auditors report on the financial statements Consolidatgd statgrnont of fin•n¢lal a¢tivitiès 3-17 18 19-22 23 Consolldated balance sheet 24 Cornpany balance shoet Consolldated statement of cash flows 25 26 Notes to the financial statements 27-46

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees S H Buckle, Chair (appointed 27 June 202311.2.3.4,5.6 Sister M A 8anning, Order Appointed Rep1,4 M M O'Keefe1,2 J Feeney, Vice Chair, Order Appointed Rep, Chair SLC1,2,3,4,5,6 J Hennah Irebred 21 November 202311.15 S Wilson. Chair Educalionl,3,5 P Barras, Vice Chair, Bishop's Rep. Chair F&GP1.2,3.4.5.6 R Telchner1,3 Prof Franeoise Le Sauxi,3,6 M Robertson1.2 G W8tsoni.3,6 A Bainbridge, Safeguarding Govemor, Chair Safeguarding1,6 J K Shah {appoinled 21 November 202311,2 Full Governing Body Finance and General Purposes Committse Education Committee Spiritual Life Committee Remuneration Committee Safeguarding Committee Company rogistgred numbor 01400984 Charity rogistergd numb•r 277077 Rggistgred offico Upper Redlands Road Reading Berkshire RG15JT Independent auditor Crowe U.K. LLP R+ Buikling, 2 Blagrave Street Reading Berkshire RG1 1AZ Page 1

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) REFERENCE ANO ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 ALIGUST 2024 Bankers Lloyds Bank plc Reading Berkshire RG12BT Solicitors Blandy & Blandy 1 Friar Street Reading RG1 1DA Investment Managers The Charities Aid Foundation 25 Kings Hill Avenue Vvest Malling Kent ME194TA Registered Charity Number 268369 Webslte w.sjcr.org.uk Officer8 Icurrendy and Ihfoughoul the year) Mrs L R Stotesbury. BA IHonsl, MA, PGCE Head Mrs Natalia Jwaideh, BSC. PGCE Deputy Head Seniors Mrs S Boceaccini Bsc {Honsl MEd, PGCE. MCCT Deputy Head Prep Ms K Woods, BA IHonsl, MA, PGCE, MCCT Deputy Head Academic (Reld 31 Aug 231 Wg CdrA E Leggett, BA (Honsl. MBA, FNASBM, PGCE Mrs Lynn Douglas. MBA, MCIPD, MAHRM Bursar & Clerk to the Governors (Retd 31 Dec 231 Bursar & Clerk to the Govemors Iwef 1 Dec 20231 Page 2

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report together with the audited financial statements of the Sl. Joseph's College Reading Trust for the year 1 September 2023 10 31 August 2024. The annual report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the annual report and financial statements of the chanlable company comply wth the current statutory requirement5, the requirements of the charitable companls goveming document and the provisions of the Statement of Recomfflended Practice ISORPI applicable to charities prepanng their accounts In accordan￿ with the Financial Reporb'ng Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Refèrènco and Administrative Inforniatlon St Joseph's College I'the College'l was founded in 1894 by the Sisters of Marie Madeleine Poslel. Its operation and governance trarbsferred to lay trustees in 1978 but the Sisters and The Portsmouth Roman Catholic Diocese retain position5 On the board. 11 is constituted as a company limited by guarantee registered in England, No. 1400984, and is registered with the Charity Commission under Charity No. 277077. The College is an active member of the Society of Heads, Independent Association of Prep Schools, Catholic Independent S¢hoo15 Conference, the Association of the Governing Bodies of Independent Schools and the Independent Schools Bursarfs Association Objects and Prlnclpal actlvltles Within its charitable Objects, the College's intention is to promote and provide for the 8dvancemenl of education foryoung peop18 who are men7bers ofthe Roman Catholic chU￿h or Othe￿iSe sui18ble. st Joseph's is therefore committed lo provide a first class education through strong academic luilion and by developing broader skills that enable every pupil lo realise his or her potential to the full. This involves emphasis on the co curriculum through cerebral, 5POrting, artisb'c, team building and social skills. This policy builds self confidence and life skills in our pupils and inculcates a desire lo learn and a willingness to contribute lo the wider community whilst al school and in later life. structure. Governance and Managgmgnt The College functions as a unified institution wth tsvo divisions- St Joseph's Senior School and Sl Joseph's Prep School. both located on the same site. Governlng Body The College is overseen by a single Governing Body. A list of the members, along with the College's officers and principal advisors, can be found on pages 1 and 2. The Governors of Sl Joseph's College I'the College") serve as both the College's charity trustees under charity law and the directots of the charitsble company. The names of those who served as Trustees during the year, as well a5 those who eontinue in office, are listed on page 1. The Goveming Body is self-apF)Ointing, with one-third of its members required to retire by rotslion al each Annual General Meeting IAGMI. The members who were first appointed, or who have served the longest since their last reappointment, are the first to retire. Reb'ring members are eligible for re-election. Page 3

STJOSEPH'S COLLEGE READING TRUST {A company limited by guarantoel TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Recruftment and Training of Trustees New members of the Governing Body are appointed at Board meeb'ngs, based on nominations from the College's Alumni Association, the Catholic Diocese of Portsmouth, the Parish of Sl. James and Sl. William of York, Reading, the Order of the Sisters of St. Marie Madeleine Poslel, or through professional or business eonlacls. Additionally, the Bishop of Portsmouth nominates one Trustee, and the Order nominates two Trustees. Prospective Trustees are selected based on their professional qualifications, experience, personal competence, and local availability. New Trustees undergo an induction process, which includes a familiarization day al the College and attendance al termly meetings. They receive the AGBIS (Association of Governing Bodies of Independent Schools) guideline5 for Governors, the Charity Commission's "The Essential Trustee" document, and key College policies. Additionally, they are given Safeguarding training by the College's Designated Safeguarding Lead and are required to complete important online Educare training modules. Ongoing Irairbing opportunities are provided for all Trustees. They are encouraged to participate in external trustee training sessions and information courses Its stay informed about current issues in the sector and regulatory requirements. The Diocese of Portsmouth Schools Department offers training, and Trustees have access to regular seminar5 on various relevant topi¢s. Those who attend these seminars share important insights with their fellow Trustees. Trustees are also expected lo attend College events le.g., Pryze Giving, Performing Arts events, Music Concerts, and Sports Day} and to visit the College regularly lo obseThe daily life. A special Governors, Day is held each year, providing an opportunity for Trustees to update their knowledge on educational matters. Corporate Governance The Governing Body is mindful of the principles and recommended practice set out in the Charity Govemance Code for larger charities, and believes that il applies, much evidenced in this annual report, the specified principles of organisational purpose, leadership, integrity. decision making, risk and ¢ontrol, board effectiveness, diversity, openness and accountability. Management The Governing Body members hold legal responsibility fof the overall management and oversight of the College. The day-to4ay operations of St. Joseph's College are delegated by the Trustees lo the Head and Bursar, who are supported by the Senior Leadership Team. Together, this group conslilutes the key management personn?I, as outlined on page 2. The Head, Bursar, and other relevant members of Key Management attend meetings of the Goveming B(Idy and 115 Committees, with the exception of the Remuneration Committee. The Full Governing Board meets al least five times 8 year. The College's committees include the Education Committee. Finance and General-Purpose Committee, Safeguarding Committee, Spiritual Life Committee, and Remuneration Committee. The Senior Leadership Team also holds a termly Health & Safety Committee meeting, which is discussed at the Finance and General Purpose Committee. Detsiled information about these mmittees is provided on page 1. Throughout the year, the Governing Body's work is carried out through six committees. each rneeting up to five 'mes annually. These meets'ngs involve a mix of virtual and in-person attendance. The membership of each committee is listed on page 1. The Bursar is also the Cler1( lo the Govemors and is supported by the PA lo the Head to perform the duties of the Clerk. Page 4

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Remuneratron is sel by the Board. wth the objective of providing appropriate incentives to encourage enhanced performance and of rewarding fairfy and responsibly individual contn'butions lo the College's success. The appropriateness and relevance of the remunerats'on objective is reviewed annualty, induding reference to ¢omparisons with other independent schools to ensure that the College remains sensitive to the broader issues of pay and employment conditions elsewhere. Strategic report Achievgrngnts and pgrfomian¢¢ Misslon statement The College's mission is lo encourage, inspire, challenge and support pupils to fulfil their potential in a community founded on Catholic Christian values. Stratoglc Plan The College cuffenl Strategic Plan was agreed by the Governots in Spring 2023 and runs until 2030. It is subject to an annual review by the Governots. 11 has four key themes Striving lo be Saints and S¢holars-'Forming the head. hands and heart. This seeks to develop in order to further strengthen the Spiritual life of the College, our approach to Teaching & Learning and the provision of Pastoral Care Excellence in Enri¢hmenl & Extension- Provision & Participation This seeks to develop in order to further strengthen the provision of cocurricular ad'vibes, trips and our stretch and Challenge for pupils in both academics and c¢xurricular areas (Music, Art. Drama and Sport) Building the Future- Sustainable Investment in Facilities and People Making the best use of our physieal and human resource through clear and transparent processes, investment and sustsinable approaches. A Connected Community- Nurture the Roots, Grow the Fnjit, HaNesl the Crop Further developing our Telalitsnship with external stakeholders especially our Alumni- The Old Broad Oakians. This is tr) in¢lude further generation of non-fee income to support our goal of maintaining accessibility to independent edu¢ab'on for families The Strategic Plan continues lo form the basis of the Academic, Pastoral, Spiritual and Cocurricular Operational Plans and provides a consislenl approach to creating a safe and stimulating environment in which our community will grow and leam. Operatlonal Perfornianco of thg Collggg st Joseph's College, maintains the College's tradition as a caring. Christian community that encourages pupils of all abilities to Ihiive academically and fulfil their individual potential. The trustees drive to offer a high quality education at an affordable price, wrth fees in the Senior School in September 2023 broadly the same as that charged in 2011. Few, if any independent schools can claim such prudence. Numbers in 2023124 averaged at around 579 students Page 5

STJOSEPH'S COLLEGE READING TRUST IA company 1SmSted by guaranteo) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 A¢ademlc Performance The College achieved a better A level grade distribution than in 2023 and also when compared to those in 2019, the last time results were not mitigated for the effects of Covid lockdown. A Level outcomes featured a 100° pass rate, with 760A of grades at A, to B. 84QA ol leavers secured grades allowing them to attain places al their first choice university. The Extended Project Qualificats'on saw 95 /0 of students achieving A"_C. At GCSE, 970/0 of grades were al 9 to 4, with 470A at grades 9 to 7. 96Qkn of students achieved five or more GCSE Grades at 94, induding English and Maths. Pupils in KS1 & KS2 continued to perform above the national average in writing with the majority of pupils perfomiing in their expected age band or at greater depth. Closer examination of books allows for this progress to be more concrete for the observer for example in Year 1 children moving from single word formation and simple sentences to writing in full paragraphs over the course of the year. In reading, 90°A pupils were, by the end of the academic year, reading at or above their chronological age and in maths 95'k of pupils were working at or above their expended standard. 1 OOOA of pupils in the EYFS mel their early learning goals. All of the above is evidence that the leaching and learning in the Prep school allows children to meet their potential by their teachers supporting. encouraging. inspiring and challenging them to be and give of their best. Careers and Futures Provlslon The College is committed Ic equipping young people with the character and skills necessary lo meet the challenges of an ever-changing world. The Careers and Futures Department plays a crucial role in delivering thi5 objective by preparing students for further education. higher education. apprenticeships, the world of work, and the opportunities available for those considering a gap year before embarking on the next stage of their lives. The department ensures that each student benefits from expert advi￿ in careers education through access to Unitrog, an online careers platform, encounters with employers and employees. experiences in workplaces, engagement wrth further and higher education, and personalised guidance. These provisions align closely with the Gatsby Benchmarks of Go¢)d Careers Guidan￿. Throughout the academic year, students at every stage ave received targeted careers education and support. We adopted a strategic approach. lo the annual Careers Fair, engaging our dedicated parent community, many of whom work for interesting and diverse companies. Alumni were also invited to contribute, and their willingness to share their 'Life beyond Sl. Joseph's. experiences, including some wonderful presentations, was a very real and powerful element of the event. givlng students a glimpse into the not-so4istant fvture. The College Hall transformed into a vibrant hub of career exploration. Parerslal and alumni volunteers, students and parents filled the space, knowledge and experience was shared, questions were asked. gadgets displayed, freebies were given, and we even had a visit from Daisy the guide dog wth her handler. There was strong engagement from parents and alumnl, demonslraling a high level of community support. Ex￿llertt student and parent tumout in Year 9 - 12 reinforced the importance of in-person career guidance. Positive feedback from attendees, highlighted well-organised sessions and provision of valuable insights. Overall, this was a highly successful and inspiring event that will benefit students as they consider their future pathways. Page 6

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Innovatlons in Teaching and Learning The College's Teaching and Learning strategy continues lo focus on cognitive science principles, ensuring that students develop long-term memory relenb'on and deep engagement with content. A comprehensive programme of lesson observations, inset and weekly professional learning sessions develop staff pedagogy to ensure the best outcomes for our students. Key initiatives include.. Structured lesson design, incorporating retrieval practice and 'Do Now, tasks. Effective questioning strategies, such as cold-calling linclusive questionsngl and mini-whiteboard Use. Its enhance student participation and allow for regular checks for understanding. The Catalyst Programme for Year 11, providing regular study skills sessions to boost independent learning. Al other year groups have seminar style sessions incorporated into PSHE lessons. Exploring the use of, and investing in, digital learning platforms to aid student retrieval practice and knowledge retention. Setting Carefully Considered homework for students with a focus on praclicing and consolidating laughl material. Pastoral Carn & Wellbeing Mental health and wellbeing sit at the heart of our ethos at st Joseph's College, we believe in nurturing not only a￿deMiC excellence but also the spiritual, emotional and social growth of every student on their joumey from EYFS in the acorn centre to Sixth Fom in Broad Oa We have a reputab'on for outstanding pastoral care and our pastoral structure ensures that we are able to provide a supportive and inclusive environment where every child feels value(I, heard and cared for. We offer a safe space for our students to confide, encouraging them lo talk to their teachers and friends alike through all stages of their school journey. Regular communication betsveen students, leacheis and parents ensures that no child 15 overlooked and that the health and happiness of each child is given priority- The size ol our Prep school elasses and senior tutor groups ensures a personalised approach within an inclusive and supportive environment. Positive relationships and excellent communication betsveen students and their Class Teacher￿UtOr, fosters a deeper underslanding of each students, strengths, enhances learning, and allows us lo address specific needs more effectively. Students are tutored in houses across mixed year groups which encourages a sense of community spirit, house identity, and peer SUPF)Ort with induction and next steps in stuéenls. educats'onal joumey. There is an emphasis on helping students lo achieve the best academic results, whilst supporting their emotional, physical and mental health needs. Both tutors and teachers help students to strive towards their ambitions and help them to plan what 15 needed to attain them. Our PSHEE and tutoring programme, rooted in the Catholic values of compassion, respect and understanding, fomis an integral part of our pastoral care. A dedicated team of staff are committed lo guiding sludenls on their educational journey, helping them lo develop a strong sense of self and meaningful connections with the wodd around them. Our approach fosters resilience, encourages positive relab'onships and prepares students to face lrfe's challenges with confidence and a moral compass. Page 7

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee) TRUSTEES, REPORT {CONTINUEDP FOR THE YEAR ENDED 31 AUGUST 2024 Vvellbeing Support We leach all our students. from the youngest years, the importance of looking after our mental health. A significant number of staff are trained in Mental Health First ￿"d and all staff are equipped lo understsnd and look out for the mental wellbeing of our students. Support is given to help manage a wide range of concerns.. from workload, to friendships, to mental health. For the times when things are more challenging, our Chaplaincy and Wellbeing Centre, offers a calming space where students can a¢¢ess support for mental health or spiritual wellbeing. There are professiona15 there to support such as our Lay Chaplain or our Mental Health Practitioner. In 2023124 The College launched a new attendance policy with a 954Jk intervention threshold which has opened dialogue with students and their parents and is fostering a culture of improved attendan￿. The appointment of a new Mental Health Pra¢litioner has expanded student wellbeing support. complemenbng the annual St Joseph'5 Wellbeing Survey, whi¢h identified key areas for further pastoral focus, Including friendship5 in the Piep School, self-image concerns in Lower Seniors, and mental health awareness in Upper Seniors The College has also engaged external speakers, su¢h as 'Everyone's Invited, to address gender pressures, relationships. and societal challenges, ensuring students receive relevant, age-appropriate guidance. We have also welcomed colleagues from Building Resilience In Young Minds IBRIYMI to act as a counsellor for those most in need, and lo work with our students on exam stress, coping strategies and sleep hygiene. SEND Provlslon At Sl Joseph's we understand that some students need additional support in their studies. From the very start of your journey students have confidence in their experience of the Learning Support Team. We have a Leaming Support Department who choose lo specialise in Special Educational needs and are enthusiasb'c in enabling students to reach their potential. We also adopt a whole school approach, in that classroom teachers are equally involved in following their passions lo support students both within the classroom and for short term support. We have an effective SUPF)Ort programme which is unique and meets the needs of our community. We have called this CLARITY- Confidence in Learning, Assessment, Revision, Inleraclions, Time management and You. Any student may be refer￿d to our CLARITY programme, whether this is for 1.'2'.1 support, small group5 or part of our enrichment prograrnme. The CLARITY programme adapts lo the needs of our community via input from teachers, the pastoral team and parents, ensuring a childwcentred approach which is nimble and agile in supporting cuffent needs. The College has a core value of teaching via an evidence-based approach and we are committed to implement support where progress is benchmarked termly and cbar targets are agreed on. Key initiatives 23124 BBB group- lunchtime group running daily for those students who need to have a quiet space during lunch andlor have a packed lunch Sensory circuits njnning daily and with multiple groups in prep Page 8

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Assessment and Reportlng Enhancement The transition to 8 new Management Infomialh)n System IMISI, 'SchoolBase', has improved assessment tracking. The new reporting framework for Years 7-13 now includes Attitude to Learning and Organisation as key indieators of sbjdent progress, replacing previous behavioural categories. This system, with clear level descTlPtors, provides parent5 With more accurate and constructive feedback, helping guide subject choices and university applications. Staff have better access to Student baseline grades, which are now used within the reporting process lo give a more aceurate indicat￿￿ of academic perfomiance. To streamline Parents, Evening5, the College adopted Schoolcloud, an online scheduling tool that has significandy improved efficien￿ by automating appointment Iransilions, reducing overruns. and enhancing accessibility for parents and teachers. Positive feedback has led to its full adoption. Co.Curricular and Enrichment Learning at Sl Joseph's is enhanced by the broad co eurricular programme, providing opportunities and challenges beyond the classroom. Activities not tsnly offer opportunities for personal growth and a sense of belonging, but also create opportunities for leadership and teamwork. in addrtion to providing enormous fvn along the way. As a school we believe it is the ability to work collaboratively within a team that is one of the most valued of contemporary work based skills along with the attributes of commitment, confidence, communication and compassion. What we have called the 'five Cs. at St Joseph's and which fomi the outer wheel of our mission and values circle. A thriving Co￿Urr￿cu1ar programme underpins the College's holisb'c education. structUTed into four key areas.. The Arts Sport & Outdoor Education STEM (Science, Technology, Engineering & Maths) Humanitie5 and Languages Education IHaLEI This year, the College expanded its co-curricular provision. now offering 70+ weekly activities, including leadership opportunities and competitive events. Notable achievements include.. National success in the F1 in Schools competition, with Prep aged students excelling. Catenian Public Speaking Competitr'on, where a student secured second place in the regional finals. London Mozart Players perfom)ing alongside pupils al the Spring Concert, enriching the College's music prograrnme. Model United Nations IMUN), vAth students winning multiple awards al a Haileybury School conference. Drama production of 'Grease', hailed a$ one of the College's highest-qualty performances to date. Sports highlights include hosting their first*ver rugby sevens toumament, competing in netball and football 'Under Lights, fixtures, and winning medals in national orienteering competitions. Page 9

ST JOSEPH'S COLLEGE READING TRUST {A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Edueatlonal Trips and Residentlals Trips continue lo be an integral part of the student experience, with a new trip package system improving transparency for parents. Key exeursions included.. French tn"p, where students travelled aeross Normandy and visited the Abbey at Saint Sauveur le Viscomte, the home to the order who established the school in 1894 Geography trip lo Iceland, exploring the country'5 natural wonders. Sixth FOTM trip lo Bedin, offering cultural and historieal enrichment. London theatre trips, Tale Gallery visits, and outdoor residentials, enhancing subject learning. Across the Autumn and Spring terms, the College ran 72 trips, including seven residenbals, further strengthening experiential leamin9 Opportunities. House System and Community Engagement The House system continues lo promote student participation, leadership, and school spirit, reinforced by the introduction of House Kit as part of the College uniform. The culture of'House' at St Joseph's has become more embedded and students now see leadership in this sphere as 'House Captains, as a prized appointment in Year 12. Applications doubled for the role with some seeking il over a Head Student P05ilion which was traditionalty deemed the most prestigious. This yearfs House events included.. House Perfomiance, a flagship event involving students from Year 3 to Year 13. Competitions such as Tug of War. Spelling Bees, and University Challenge, fostering inler-house camaraderie. New House Talent Show, offering 8 platfomi for student creativity. Charity: Funds and Awareness Raising Three students from Year 13 volunteered lo travel on a pilgrimage to Lourdes over the 2023 Summer Holidays, assi51ing those who otherwise would have had great difficulty in visitsng the holy site. Their compassion allowed others lo experience the grace of God, whilst themselves experiencing the importance of serving others. On Friday 15 September, pupils in Year 11 spent a night sleeping out on 5ehool grounds to raise money for the charity Launchpad Reading, a homelessness prevention chaTIty which provides support for people who do not have a stable place to live or are al risk of losing their home. They managed lo raise £2230. s￿dents now democratically elect a College Charity for the Year. This Yearfs chosen Charity was Reading Refugee Support Group as the College Charity for the academic year, 51udenls have raised over £4,500 through several fundraising inilialives Icandy Cane sales, Christmas Present Room, Student Raffle, Sponge the Teacherl. Reading Refvgee Support Group visited the school to deliver an assembly on the charity and thank the students for their supporL In October we held our Harvest Fesbval Service. Pupils across the College look part in a beautiful service of music, readings and prayers. Generous donations from Students were delivered to ReadiFood and CIRDIC. b)th local Christian Charities who deliver food parcels to those in need across the greater Reading area. We look part in the HaNest and Lent CAFOD Family Fast Days. All staff and students had a simple vegetarian pasts or soup lunch with fruit and we raised frjnds for CAFOD by donating the difference in cost between that and our usual Fish & Chip lunch. Patl'cularly appropriate as the CAFOD campaign this year sought to fundraise for items to allow fishermen in the developing world to fish more safely. In total these raised over £1300 Page 10

ST JOSEPH'S COLLEGE READING TRUST {A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 In De￿Mber. a choir and brass band trip lo Costco to sing and perform Christmas Carols took place, raising money for the Alexander Devine Children's Hospice charity. Here, students gave their time to show compassion towards those who face the most difficult times. During world Mental Health Awareness day we encouraged all student5 and staff to wear yellow items of clothing lo raise awareness around mental health struggles. We continued this theme throughout the Spring term and had another big focus during Children's mental health week in February. where all students We￿ taught grounding techniques and led through a meditatson to leach them how to manage their emotions when b'mes are tough. Anti-bullying week wa5 a launching point for a larger piece of work on tackling bullying and bystsnder behaviours throughout the College. During anti-bullying week the traditional 'odd socks. day which was then ft)Ilowed up with a weekly program of virtual assemblies and tutor activities throughout the autumn term. The College has an active and committed Eco Committee. including students and staff. which actively prornoles energy efficiency, running campaigns and identrfying waste wherever it can. 11 has prompted the fitting of low energy lights across the school and a range of other efficiency programmes including boiler oplimizalion, roof insulation and the covering of the College Pool when not in use. There have been measurable reductions in both energy use and carbon footprint. These achievements reflect the College's ongoing commitment to excellence, innovation, and holistic student development alongside our genuine pursuit of allowing all students to adhere lo the fundamental principles of Catholic Social Teaching.. Dignity Solidarity The CQTnmon good The option for the poor Peace Care for Creation and Nature The Dignity of Work and Participation Premises, Infrastructure and Sustalnabilty The College continue$ to enhan￿ and maintain the quality of its estate and facilities, while also strategically advancing long-lerm projects as part of its Estate Plan. Additionalty, the College is ¢ommitted to increasing sustainability by reducing 115 carbon footprint. During the reporting Feriod, the College completed the following development projects.. Installation of energy-soving boilers lmplementats.on of a new Building Management Control System {BMSI Installation of an energy-saving heating and hot water system in the Prep School Renovation of the Dining Room, where both students and staff dine Financial contributs.on to the creation of a crossing outside the College, following years of campaigning by Ihe College and our Parents, Association. Fundraising perfomiance In the past year, the school has not actively engaged in fundraising for the school and has no immediate plans lo do $0. A separate charity The St Joseph's College Parents, Association which is operated by parents of the school raise5 funds towards facilities and equipment for the $¢hool. In the year 2023124 the Parents, Association donated £44S3.00 to the school which enabled the school lo purchase a 3D printer. wooden playground items in Prep.a football goal and Chllstmas Tree. No other fundraising activities are undertaken. No complaints have been weived relating to fundraising activities by the College during this reporting period. Page11

ST JOSEPH'S COLLEGE READING TRUST {A company limitgd by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The school does not cUr￿ntlY subscribe to any specific fundraising standards or schemes for fundraising regulation. Employee Engagement The Governing Body is kept fully informed of any employee concerns through regular formal and informal briefings ftorn the Headmaster and Bursar. The Trustees are eommitted lo promobng a positive and healthy environment for all staff at the College ft)r both their physical and mental wellbeing. The Tr¥Jslees promote inclusion in the workplace and provide resoijrces for training and development opportunities for all staff. The Trustees encourage recruitment and development strategies which seek to attract and retain tslented staff. At intervals throughout the year. usually immediately prior lo the start of a term, Professional Development Days are eld during which briefings and staff training lakes place. Element of these days will apply to the whole college stsff, both academic and operational, with other periods being applicable lo specific roles, functions or training requirements. Training on these days will often include training on safeguarding, data protection, and health and safety, as well as briefings on the College's development and strategy. Public Bengfit The Governors of Sl Joseph's College, in their role as chanty Iruslees, have fulfilled their duty under section 17151 of the Charities Act 2011 by giving proper consideration to the Charity Commission's published general guidance on the publi¢ benefit requirement sel out in the Act. A summary of the public benefit provided is as follows. Prlnclpal Activitie$ The College's principal activity is to promote and provide for the advancement of education for young people aged 3-18, who are members of the Roman Catholic church or otheNise suitable. During the course of the academic year there were an average of 579 pupils in the College. Means Tested Financial support for pupll$". A total of £302,876 12022123.. £345,507) was spent on means tested support which was 3.8.￿ of the College's gross fee income linfo - then delete our means tested policy refers to us accounting for 6-8°h of gross fee income). A5SiStanee was provided in the form of xx bursaries. The Sisters of St Marie Madeleine Postel support the College in numerous ways and provided financial assistsn￿ to 6 pupils12022123: 71, amounting lo £32,15012022123'. £34,398). Cornmunlty Engagement and Support St Joseph's College upholds its charitable objectives by providing its facilities for public benefit within the community. We offer access to a variety of amenities. including the kitchen. halls, all-weather sport5 pitches, sports field, and indoor swmming pool, to local schools and community groups. Page 12

ST JOSEPH'S COLLEGE READING TRUST {A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Bgnoficiarios During the Year: In partnership with the Thoma5 Franks Foundation, the College is committed to addressing food povety in the local community and actively engages with initiatives lo make 8 diffe￿nce. We have established a successful collaboration with Reading Minster Church, The Thornas Franks Foundation, and Farth Christian Group lo improve the quality and availability of hol meals for those living on the streets of Reading. A fresh, hot meal is prepared ￿lce a week and served to 100 individuals in need throughout the year. The College facilities are regularly used by Whiteknight5 Chureh, a non4enominational Chrisb'an church that holds its weekly meetings at st Joseph's. The connection betsveen the College, the parish of Sl James and St William of York, and the Portsmouth diocese has grown stronger. The College has contsnued to host various parish and diocesan events free of charge, receiving valuable support from both the parish and the diocese in retum. The College has created its own Swim School, providing affordable swimming lessons to the public and ensuring accessibility for everyone. This year. we Introduced dedicated sessions for adults, including women-onty classes. In addition, the College operates its own holiday club, welcoming children from outside the College community. The College has also supported the National Apprenticeship scheme by employing an apprentice in the IT department. Various choirs and instrumental groups from the College perfom throughout the Community, participating in events to SUPFlOrt charitable causes. Furthermore, the College h85 made its facilities availab￿ at a nominal cost to organisalions such as the Berkshire Young Musicians Trust, Berkshire Maestros, The Reading Haydn Choir, the Rotary Club of Great Britain, and the Berkshire Autistic Society, in support of their local initiatives. Several years ago, St Joseph's College formed a valued partnership with Redlands Primary School, OUT neighbouring stale primary, lo provide their pupils with much-needed access lo high-quality physical education facilities. As a small school wlh limited outdoor spaee, Redlands faces challenges in delivering the fvll PE curriculum. particulady in activities requiring grass pitehes, large courts, and swimming facilities. Over the yeaTS. this partnership has flourished, ensuring that Redlands pupils benefit from weekly PE lessons on our Astro pitches and in our swimming pool. This provision has had a significant impact on the children's confidence and skill development. We have always valued the opportunity to support younger ehildren through enrichment and responsibility, and we are delighted to be discussing ways to reintroduce mentoring opportunib'es for our pupils. In the past, st. Joseph's students have supported younger Redlands children during their swimming and PE lessons, offering guidance, encouragement, and leadership. We are excited about the potentr'al for our students to lake on ￿SpOnsIbl11ty once again, contributing posits'vely to the Redlands pupils, learning experience. We are exploring new lileracy-focused collaborations. Several of our students have been trained in ABC to Read, prograrnme designed to develop reading confidence and fluency. We are looking fO￿ard to welcoming Redlands pupils to our College library, where they will read to their trained reading buddies in a nurturing and inspiring setting. Likewise, we are in discussions about our students visiting Redlands lo listen to ¢hildren read, helping lo ft)ster a love of reading while building meaningful peer-mentorin9 relationship5. We remain incredibly proud of this partnership and the mutual benefits it brings to both our schoo15. Redlands pupils receive access to outstanding facilities, while our own students could gain valuable leadership, mentoring. and community engagement opportunities. As we continue to develop this collaboration, we are excited lo expand and strengthen our links, ensuring even greater opportunities for both Redlands and SL Joseph's pupils in the years to come. Page 13

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Finan¢ial rèvlew Financial Rosults of Activiti￿ & Events The average number of pupils in the College was 579 {2023.. 590) in this academic year and is 565, at the lime of writing, in the Spring term 202412025. Governors believe the pupil role will be maintained in spite of the market disruption, reflecb'ng the College consistenuy achieving academic excellence and providing a caring and vibrant coeducational Christian community in which individual talents are recognised and developed. The financial results of the Charitls activities in 202312024 are sel out in the staternenl of financial activities on page 28. The charity generated totsl income and endowments of £8,799,83212023.' £8.423,3021 and expended lolal resources including exceptional costs of £9,351,683 12023.. 8,409,494}, resulting in a deficit gf £551,851 12023.. £13,808 surplusl. The total fvjnds of the charity at 31 August 2024 were £3,289,25012023: £3,841,101) 999 Year Lease During 201012011, the St Joseph's College Reading Trust entered a 999 year repairing lease of the land and buildings, with the Trustees of St. Marie Madeleine Poslel Reading. The lease has been entered into al a discounted rent, and, in effect represented a gift to the College of £5m. This gift has undetwritten the growth in the College and provided collateral lo support the investment in the new facilities. Rgservgs policy The Board has determined Ihal the appropriate level of free reserves which are not invested in tsngible fixed assets nor sel aside for spe¢ified purposes should be equivalent lo three month's payroll expenditure. After adjusting the unrestricted reserves to remove fun¢tional fixed assets for the charity's own use and borrowings against them, there were no free reserve5. The 999 year lease, entered into during 2011, provides substance to the College's balance sheet and long-lerm financial support for the College. Under the terms of the lease, the College 15 able to enter into a Charge against the lease of up lo £2.5m. Investment polScy and oblectNes The College's investment objectives are to balance the current and future needs by.. maintaining lal least) the value of the investments in real temis., producing a consistent and sustainable amount10 5UPPOrt expenditure,. and delivering these objectives within acceptable levels of risk. To meet these objectives the College's investments as a whole are managed on a total retUTn basis, maintaining diversification across a range of asset classes in order to produce an appropriate balance be￿een risk and relum. The inve5trnent strategy and policy are monitored by the Finan￿ Committee, as is investment perfomiance. Page 14

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Prlnclpal rlsks and uncortalntlos The Govemors ¢onsider that the affordability of fees by parents across the independent sector rernains the principal risk faced by the College. The imposition of VAT on fees from l January 2025 and the withdrawal of Business Rates Relief proposed for April 2025, presents a significant challenge for the affordability of the whole independent sector. As fees in the College remain signifi￿ntsy below those of comparable schools in the South East, the impact would be somewhat reduced. The College is Gurrently approaching capacity wlh respect to Student numbers, but this could change significantly. The Governing Body decided not lo increase fees in September 2020, bearing the impact of Covid 19 in mind. In September 2021 with the receding impact of Covid 19 on the economy a fee in¢rease of 4.50/0 was implemented. With an improving economy and pressure lo meet inflation in salaries and utilities, Govemors decided lo increase fees by 80kn for Sept 2023. Any fee increase in September 2024 will need lo be tempered by the real risk of significant rises in 2025 driven by external forces. Ameliorating as much of any imposed fee rise will be the focus of significant planning in the coming year. Health and Safety is always a significant area for risk management. The risks range from fire and infrastructure lo personal risks Imosl notably when away from the campus on tn'ps and expeditions). The level and breadth of activity at the College is impressive and the risks associated with all activitie5 are minimised by thorough planning and risk assessment. Detailed consideration of risk is delegated to the sub committees, who report fomalty lo the Governing Body at each meeting. The risk management process and the resulting Report identifies risks, assesses their impact and likelihood and, where ne¢essary, recommends controls lo mitigate and monitor those risks that are assessed as high. The generic contro15 used by the College to minimise risk include.. detsiled teTms of referen￿ together with fonmal agendas for Committee and Board activity.. strategic development planning, reviewed annually by the Full Board,. comprehensive budgeting and management accounb'ng., established organisational structures and lines of reporting., form￿ written poliaes including clear delegated financial authorisation and approval levels., vetting procedures as required by law for the protection of the vulnerable. The Governors regularfy ￿VIeW the effectiveness of current plans and strategies for managing all idents'fied major risks for both the College and its subsidiaries. Page 15

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Rlsk Management The Governors have examined the principal areas of the College's operation, and identified the major risks faced in each of these areas. These risks are monitored, with one or more Govemors taking a lead in each area, reviewing regularly with the nominated Risk Owners and reporting to committee5 as appropriate in re121ion to the effectiveness of Internal and external controls. There is an effectsve and consistently managed and updated Risk Register. The Chair of F&GP meets regularly with the Head and Bursar to review the Risk Register and is responsible for informin9 the Full Goveming Body of any significant new risks identified or chan9es lo the probability or impact of others. With respect to Health & Safety, the College has appointed A5surity Ltd as H&S and Risk Management consullanls who carry out on sile audits and produce reports and Action Plans every 6 weeks in the management of statutory and other processes and procedures. The Govemors are satisfied that these controls should, under normol conditions, allow risks to be mitigated to an acceptsble level in the College's day to day operatsons. The eharity maintsins professional indemnity insurance cover, which indudes cover for Governors. Plans for future perlods Future Strategy The Governors, strategy for the medium to long term is to fvrther enhance and develop the estate for the advancement of the needs of the modern curriculum. The Governors are also committed to continuing to achieve the highest standards of academic performance whilst cullivaling a well rounded development of the pupils, and in doing so give the pupils the best possible preparation for higher education 2nd adult life. Futur8 Activlties & Events In addition to continuing the high quality of education provided by the College, the GOVerT￿rS, plans for 2025- 2030 include.. Work on the development plans for the Chalk Hills site., Replacement of roots as part of the 5 year maintenan¢e plan- Replacement of the windows in the main block. RefiJrbi$hmenl of Science and Food Technology Facilities Disclosure of informatlon to audltor Each of the persons who a￿ Trustees at the time when this Trustees. report is approved has confimed thal.. so far as that TTuslee is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and that Trustee has taken all the steps that ought lo have been taken as a Tnjstee in order to be aware of any re5evanl audit information and lo estsblish that the charitable group's auditor is aware of that infomialion. Page 16

ST JOSEPH'S COLLEGE READING TRUST IA company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Auditor The auditor, Crowe U.K. LLP, will be proposed for reappointment in accordance with se¢tion 485 of the Companies Act 2006. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs Hllary Buckle Chair of Governors Date: IqlrlLJ Page 17

ST JOSEPH'S COLLEGE READING TRUST (A cornpany Ilmlted by guarantee) STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report including the strategic report and the financial slalements in accordance with applicable law and Un¢ted lfj'ngdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they ale satisfied that they give a true and fair view of the state of affair5 of the Group and the Company and of their incoming reSoUr￿S and application of resources, including their income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102}", make judgments and aceounling eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explaified in the financial ststemenls", prepare the financial statements on the going concern basis unless il is inapproprsate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are SLtfficienl to show and explain the Group and the Company's transaction5 ané diselose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Acl 2006. They are a150 re5pon5ible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 18

ST JOSEPH'S COLLEGE READING TRUST {A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STJOSEPH'S COLLEGE READING TRUST Oplnlon We have 8udited the financial statements of Sl Joseph's College Reading Trust Ilhe 'parent charitable company,) and its subsidiaries (the 'group'l for the year ended 31 August 2024 which comprise the eonsolidated statement of financial activities, the consolidated balance sheet, the company balance sheet, the consolidated statement of ¢ash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial ReF)Orting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the Group's and of the parent charitable company's affairs as at 31 August 2024 and of the Group'$ incoming resources and application of resources. including Ils income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted AG¢ounting Practiee; and have been prepared in accordance with the requirements of the Cornpanies Act 2006. Basi$ for opinion We ¢ondu¢ted our audit in accordance with Inlemalional Standards on Auditing IUKI {ISAs IUKI} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in aceordanee with the ethical requirements that are relevant to our audit of the financial statements in the United Trfjngdom, ineluding the Financial Reporb'ng Council's Ethical Standard, and we have fulfilled our othei ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢luslons relatlng to golng concern In auditing the financial statements, we have concluded that the TFustee5' use of the going concem basis of accounb'ng in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainb'es relating to events or conditions that, individually or colleth'vely, may cast significant doubl on the Group's or the parent charitable company's ability lo continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilitses and the responsibilities of the Trustees with respect to going concern are described in the relevant section5 of this report. other infomiation The other information comprises the information induded in the annual report other than the financial slalements and our auditorfs report thereon. The Trustees are responsible for the other information contained within the annu81 report. Our opinion on the financial statements does rbot cover the other information and, except to the exlenl otherwise explicitly slated in our report, we do not expTe5s any form of assurance conclusion thereon. Our responsibility is to read the other information and, In doing so, consider whether the other information is materially inconsistent with the financial slalements 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 Page 19

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST JOSEPH'S COLLEGE READING TRUST (CONTINUED) misstatements, we are required to determine whether this gives rise to a m8teri81 misstatement in the financial statements themselves. If, based on the work we h8ve perfomied. we conclude that there is a material misslalemenl of this other information. we are required to report that fact. We have nothing to report in this regard. Oplnlon on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, report including the Strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, report and the Strategic report have ￿en prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our kno￿edge and understsnding of the charitable company and ils environment obtained in the Course of the audit, we have not identified material misstatements in the Trustees, report including the Strategic report. We have nothing to report in respect of the following matterg in relation to which Companies Act 2006 requires Us lo report to you if. in our opinion.. the parent charitable company has not kept adequate and sufficient accounb'ng records, or retums adequate for our audit have not been received from branches not visited by us", or the parent charitable company financial statements are not in agreement with Ihe accounting records and returns.. or ertain disclosures of Trustees, rem4Jneration specified by law are not made,. or we have not received all the infomation and explanab'ons we require for our audit. Responslbilltles of trustees As explained more fully in the trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees detemine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In prepanng the financial statements, the Tnjstees are responsible for assessing the Group's and the parent charitable company's ability to continue as 8 going concem. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realisti¢ alternative bul to do $0. Page 20

ST JOSEPH'S COLLEGE READING TRUST (A Company limited by guarantee) INDEPENDENT Au0￿oR's REPORT TO THE MEMBERS OF ST JOSEPH'S COLLEGE READING TRUST ICONTINUEDI Auditor's responslbilities for tho audit of tho financial statgments Our objectives are to obtain reasonable assurance about whether the financial stalem8nls as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalemenls. Irregularities, in¢luding fraud, are instances of non-compliance with laws and regulations. Vve design procedures in line with our responsibilities, outlined above. to delecl material misstatements in respect of irregularities. including fraud. The extent lo which our procedures are capable of detecting irregularib'es, inciuding fraud is detailed below.. Irregularities, including fraud, are instances of non-compliance wth laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularikn'es, whether due to fraud or error. and discussed these between our audit team members. We then designed and performed audit proCedu￿S responsive to those risks, including obtaining audit evidence sufficient and appropriate lo provide basis for our opinion. We oblairted an understanding of the legal and regulatory frameworks within which the chanlable company operates. focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulation5 we considered in this context We￿ the Companies Act 2006, Charities Act together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financtal statement items. In addition. we considered provisions of other laws and fegulations that do not have a direct effect on the financial statements but compliance with which might be fundamental lo the charitable Company's ability lo operate or lo avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and Tegulalions we considered in this context for the UK operations were The Education Ilndependent School Standards) Regulations 2014. Health and Safety, General Data Protection Regulations, Safeguarding and Food Standards. Auditing standards limit the required audit pro¢edures lo identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any. The greatest risk of material impact on the financial statements is from irregularities, including fraud. lo be the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance and General Purposes Committee about their own idenlificalion and assessment of the risks of irregularities, sample testing on the posting of joumals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance. Owing lo the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstalemenls in the financial stalemenls, even though we have properiy planned and performed our audit in accordance with audits.ng standards. For example. the further removed non-compliance with laws and re9ulalions lirregularitiesl Is from the events and Iransacts'ons reflected in the financial slatemenls, the less likely the inherently limited procellures required by auditing standard5 would identfy it. In addition, as with any audit, there remained a higher risk of non-deleclion of irre9u5arities, a5 these may involve collusion, forgery, intentional omissions, misrepresenlalions, or the override of internal controls. We are not responsible for preventing non- compliance and cannot be expected to detect non<ompliance with all law5 and regulations. Page21

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST JOSEPH'S COLLEGE READING TRUST (CONTINUED)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Janette Joyce (senior statutory auditor)

for and on behalf of Crowe U.K. LLP

Statutory Auditor

R+ Building,

2 Blagrave Street

Reading

Berkshire RG11AZ

Date: 20 May 2025

Page 22

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Endovmient funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income and endowments from: Donations and lega¢ie$ Charitable acts"vilies'. School fees receivable Ancillary Trading income Other trading activities 1,659 1.659 254, 852 7.310.733 1.455.963 31,477 7,310,733 1,455.963 31 N77 6,784, 751 1.352.118 31,587 Total Ineome and endowments 8.799.832 8,799,832 8,423,302 Expendlture on: College operating costs Ralslng funds: Financing SJCR Enterprises Limited 9,182,094 50,000 9,232,094 8,309,015 116,127 3A62 116,127 3.462 96, 757 3,722 Total expendituro 9,301,683 so,000 9,351,683 8,409,494 Nol movoment in funds 1501.8511 {50,000} 1551,8511 13,808 Reconciliatlon of funds: Total fvnds brought forward Net movement in fvnds 1542,2321 1501,8511 4,383,333 (50,000} 3.841.101 1551,851} 3,827,293 13,808 Tot•1 funds cathed forward (1,044,083) 4.333,333 3.289.250 3,841,701 Page 23

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee} REGISTERED NUMBER: 01400984 CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Noto Flxed assets Tangible assets 6.986,082 7,041, 131 6,986,082 7,041,131 Current assets Stocks Debtors Cash at bank and in hand 13 26,299 343,844 216,322 14 307.191 2,439,923 2,747,114 586,465 Creditors.. amounts falling due within one year 15 14.986,IX18) (2,588,946) Net current Ilabllltles {2,238.894) (2,002,481) Total assets less current liabilities 4,747,188 5,038, 650 Creditors.. amounts falling due after more than one year 16 11,457.938) (1, 197, 549) Total net assots 3,289,250 3,841, 101 Charity funds Endowment funds Unrestricted fund5 19 19 4.333,333 11.044,0831 4.383,333 (542,232) T¢)tal funds 3,289,250 3,841,101 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting rewrds and preparation of financial statements. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. P Barras Chair F&GP Date.. 1026 The notes on pages 27 to 46 form part of these financial statements. Page 24

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) REGISTERED NUMBER: 01400984 COMPANY BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Fixed •ssets Tangible assets Investments 11 12 6,986.082 7,041, 131 6,986,083 7,041,132 Current assets Stocks Debtors Cash at bank and in hand 13 14 26,299 346,828 213,609 313,625 2A37.522 2,751,147 586. 736 Creditors.. amounts falling due within one year 15 14,982,858) (2,585.496) Net current Ilabllltles (2.231.711) (1,998, 760) Total assets less current Ilabllltles 4.754.372 5,042,372 Creditors.. amounts falling due after more than one year 16 11,457,938) (1. 197,549) Total net assets 3.296.434 3,844,823 Charity funds Endowment funds 19 4,333.333 11,036,899) 4.383,333 (538,510) Unrestricted funds Total funds 3,296,434 3,844,823 The College's net movement in funds for the year was 4548,3891 (2023- £17,530). The Trustee5 acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. P Barras Chair F&GP Date IOZJ Page 25

STJOSEPH'S COLLEGE READING TRUST IA company limited by guarant991 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Note Cash Ilovts from operatlng actlvhles Nel cash used in operats'ng activities 22 2.828.458 TOT,Ot5 Cash flows frorn invosting aclivitigs Purchase of tangible fixed assets Interest paid 1394.204) {59,291) (497,356) (63, 863) Net cash used in invosting aclivitigs 1453,49S) (56t,219J Cash flows from flnanclng actlvltles Repayments of borrowing (151.3621 (145, 608) Net cash used In Ilnanclng actlvltles (151.362) (145, 608) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of Ihe year 2,223,601 188 216.322 216,134 Cash and cash equivalents at the end ol the year 23 2,439,923 216,322 The notes on pages 27 to 46 form part of these financial statements Page 26

STJOSEPH'S COLLEGE READING TRUST {A company Ilmlt¢d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Ggngral information The School's principal activity in the perrod under review was the provision of a Day School for 3-18-ye8r- old Chiklren. The incorporated charity {registered number 01400984 and eharity number 2770771, is incorporated and domiciled in the UK. The address of the registered office is 64 Upper Redlands Road, Readin9. RG1 5JT. Accounting policies 2.1 Basis of preparation of flnanclal statgmonts The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accountrng and Reporting by Charities.. Statement of Recommended Pra¢tsce applicable lo charities preparing their accounts in accordance with the Finan¢ial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard app5icable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. St Joseph's College Reading Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially re¢ognised at historical cost or transaction value unless otherwise stated in the relevant accounting poli¢y. The ¢ons01idated statement of financial a¢tivilies ISOFAI and consolidated balan￿ sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial acts'vities in these financial slalements. 2.2 Going ¢on¢orn The College Makes use of a bank loan seCu￿d by a leyal charge over the leasehold property. As a result the deficit in the a¢counts for the year ended 31 August 2024, the bank loan covenant has been breached. The fvll amount of the bank loan of £1,199.435 has been recognised as due within one year. The College has re￿iVed assurance that the bank has no concerns over the School's continued viability and has indieated that the breach will be waived. Current forecasts indicate the College expects to be able to operate within these facilities for the foreseeable future. Accordingly. the Governors believe il is appropriate to prepare the annual financial statements on the going concern basis of accounting. The Govemors continue lo regularly review the strategy as well as the longer-term financial stability of the school. As part of their normal risk management prooss, the Governors have examined the major risks to the school and the mitigats.ng actions both taken and available to be taken. Forecasts for the year ending 31 August 2025 and beyond, including ¢a5h flow proje¢lion5 and plausible downside S￿na￿Os, have been prepared and carefvlly reviewed by Governor5. Govemors considered the underfying assumptions in detail, including bul not limited to, the funding facilities available lo the school, the ongoing strong demand for places and the ability to deliver remote leaching of an exceptionally high standard if required. The Governors consider there are no material uncertainties relating to going concern and that the School has sufficient resources and conb'ngency plans in place lo continue its activities for al least the Imelve months Irom approval ol these accounts to 30 June 2026. Accordingly, they continue to operate the going concern basis in preparing the financial statements. Page 27

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies {¢ontinuedl 2.3 Foes recoivable and othor incomg Fees receivable and other in￿ming resouTces are accourbled for on a receivable basis. Fees receivable are slated after deducting allowance5, scholarships and other remissions granted by the school, but include contributions received from reslricled funds for scholarships. bursarie5 and other grants. Amounts received under the school's Advance Fee Scheme contracts for education not ulilised to settle school fees are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date as long-term liabilities where the education will be provided in subsequent years. 2.4 Exponditure Expenditure is reeognised once there is a legal or constructive obligation to make a payment to a third paty, il is probable that Settlement will be required and the amount of the obligation can be measured reliably, diseounted to present value for longer-temi liabilities. Expenditure is classified under the following activity heading5'. Costs of raising fund5 ¢0mpri5e the cost5 of cofflmercial trading and other financing costs. Expenditure on charitable actniities includes the costs of tuition and other eduealional activrties together with their associated support costs undertaken to further the purposes of the charity. Other expenditure represents those rtems not falling into any other headirig. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Resources expended are allocated lo the charity's principal acts'vity where the costs can be identifi'ed as being directly related lo that activity. All costs that cannot be identified as relating directly to the charity's principal activity are calegorised as support costs. Grants (bursaries and scholarships) awarded are expensed as soon as they become legal or operational eommilments. Grants payable are recognised in the period in which the approved offer is onveyed lo the recipient except in those eases where the offer is conditional, such grants being recogni5ed only when the conditions attaching to the award are lulfilled. Grants offered Subject to ¢onditions, which have not been met at the balance sheet dale, may be noted as potential commitments where significant, but are not treated as a liability. Expenditure on charitable activities is incurred on diTecUy undertaking the a¢tivilies whi¢h further the Group's objectives, as well as any associated support costs. Page 28

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles Icontlnued) 2.$ Tanglble flxed assets and depreclatlon All tangible assets purchased that have an expected useful economic life that exceeds one year are apilalised and classified as fixed assets. Fixed assets are stated at historical cost less depreciab'on. Depreciation is provided on all 18ngible fixed assets other than freehold land al rates calculated to write each asset down to ils estimated ￿SIdUal value evenly over its expected useful life. Depreciab'on is provided on the following ba$es'. Freehold buildings Leasehold Leasehold improvement5 Fixtures, frttings & equipment Over 50 years Over 100 years Over 5 10 10 years Over 4 10 10 years The gift of the 999 year lease has been capitalised and included in the balance sheet at a valuation of £5,000,000. The College has adopted the provisions of FRS 102 in respect of this asset and will not revalue it in the future. The lease 1$ dep￿Cl￿ed over a period of 100 years. 2.6 InveslJnenls Fixed asset investments are a fom) of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balan￿ sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or Un￿alISed. are combined and presented as 'Gainsl{Lossesl on Inveslments, in the consolidated statement of financial acts'vityés. Investments in subsidiaries are valued al cost less provision for impaimient. 2.7 Sto¢k8 Stocks are valued at the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and other debtors a￿ rewgnised at the settlemnt amount due after any trade discount offered. Prepayments are valued at Ihe amount prepaid net ol any trade discounts due. 2.9 Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligat￿n resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due to settle the obligation ean be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. Page 29

STJOSEPH'S COLLEGE READING TRUST IA company limited by guarant991 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles Icontlnued) 2.11 Financlal Instruments The College only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basi¢ financial instruments are inilialty recognised at transaction value and subsequently measured at their sethement value with the exeeplion of bank loans which are subsequently measured at amortised cost using the effective interest melh¢>J. 2.12 Legal status of the collego The College is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. 2.13 Operatlng leases The charity classifies the lease of printing, laptops, boiler ¢onlrols, vehicles and vending machines as operating leases,. the lille lo the equipment ￿MaInS with the lessor and the equipment is replaced every 5 years whilst the economic lrfe of such equipment is normally 10 years. Rental charges are harged on a straight line basis over the term of the lease. In addition the lease for the premises is classified as an operating lease. The lease is a full repairing and insuring lease with a ￿ntaI review taking pla￿ every 5 years. 2.14 Pensions All teachers are eligible to join the AVIVA Pension Trust for Independent Schools IAPTISI. APTIS is Defined Contribution Seheme administered by Aviva as a Master Trust fund. An independent board of Trustees manages the fund. The scheme is operated as a net pay arrangement scheme whereby the College pays teachers a total remuneration, and the teachers determine the level of contributions paid into theiT pension. The College matches the employee eontn"bulions and aels as an agent in collecting and paying over the contributions. The minimum level of employee contributions is 40k. For all other employees, the charity makes wnlributions into defined contribution schemes. whose assets are also held in separate, independenlly administered funds. The amount charged to the statement of financial activities in respect of pension costs Is the total contributions payable for the year. The College makes a matching contribution of be￿een 4°k and 90/0 of salary to these pension Schemes and acts as agent in collecting and paying over employee pension Contributions. New and existsng employees who are not in the defined contributs'on Pension S¢heme are automatically enrolled into the scheme unless they have exercised their ri9ht to opt out of scheme membership. Page 30

ST JOSEPH'S COLLEGE READING TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢countlng pollcles Icontlnuod) 2.15 Fund accountlng The general fund comprises the accumulated surpluses of unrestricted incoming resources over resources expended, which are available for use in fvrtherance of the general objectives of the charity. Unrestricted fvnds are available lo spend on activrties that fvrther any of the purposes of charity- Restricted funds are funds subject to specific conditions imposed by donoTS. The purpose and use of the restricted funds are set out in the notes to the financial statements. Amounts unspent al the year end are carried forward in the balance sheet. Expendable endowment funds are accounted for similarly with the depreciation related to Ihe asset being charged against the fund. Sl. Joseph's College. Expendable Endowed funds are the 999 year lease, valued al £5.000,000, which was gifted lo the College during the year ended 31 August 2011. For further detail see Governors, Amnual Report. Judgomgnts In applylng accountlng pollcles and key sources of ostimation un¢ortainty In the application of the charity's accountin9 policies, which are described in note 2. TNStees are required to make judgements. estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other Sour￿$. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. A¢lual results may differ from these estimates. The Govemors consider that there are no material judgements in applying a¢counb'ng policies or key sources of estimation uncertainty- Incomo from donatlons and legaclos Unrestrict9d funds 2024 Total funds 2024 Total funds 2023 Donations 1,659 1,659 254, 852 Page 31

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 College fees receivable 2024 2023 Feos rocgivable consist of: Gross school fees Less.. total scholarships, bursaries and discounts 7,913,485 1602,7S2 7,438,327 (653,576) 7.310.733 6, 784, 751 The number of scholarships, bursaries and discounts awarded in 2024 was 114 (2023." 118). Anclllary tradlng Income 2024 2023 Catering income Music income Extended Day and Holiday Club income Transport income Olhei operating income Trip income 397,018 324.906 306,451 64,607 325,035 37,946 350.838 250,043 353,219 76,802 210,737 110,485 1,455,963 1,352,118 Income from other trading actlvlties Income from non charitable trading activities Unrestrleted funds 2024 Total funds 2024 Total funds 2023 Rental income 31,477 31fv77 37,581 Page 32

ST JOSEPH'S COLLEGE READING TRUST IA comp•ny limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of expendlture Summary by fund type Unrestricted Endowrnent funds funds 2024 2024 Totsl 2024 Total 2023 Teaching costs Welfare costs Premises Support costs Long term lease Finance costs Trading expenditure 4.452,564 882,107 848,253 2.999,170 4A52.564 882.107 848,253 2,999,170 50.000 116.127 3M62 4, 154, 762 596,013 687,878 2,820,362 50,000 96,757 3, 722 50,000 116,127 3,462 9,301,683 50,000 9.351.683 8,409,494 Total 2023 8,359,494 50,000 8,409.494 Summary by gxp8nditure typtr Staff costs Depreciation othor costs 2024 2024 2024 Total 2024 Total 2023 Teaching costs Welfare costs 4,363,617 88,947 882,107 848,253 1.343,267 4.452.564 882.107 848,253 2.999.170 50.000 116,127 3.462 4, 154, 762 596,013 687,878 2,820,362 50,000 96, 757 3, 722 Premises Support costs Long term lease Finance costs Trading expendrture 1,256,647 399,256 50,000 116,127 3,462 5.620,264 449,256 3,282,163 9,3S1,683 8,409,494 Total 2023 5, 190,096 472,385 2,747,013 8,409,494 Governance costs induded In Support costs above are £31.602 (2023.. 28, 182J. Page 33

ST JOSEPH'S COLLEGE READING TRUST (A company limitgd by guarantegl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Net expenditure for Ihg year 2024 2023 N•t income is stated after charging: Operating leases- equipment Operating leases- land and buildings Depreciation Bank interest payable Auditors remuneration - Audit services (Group) Auditors remunerats'on - Other services 116.074 120,000 449,253 59.291 19,850 3AOO 146,074 120,000 472,380 63.863 18,735 3,035 10. Staff costs Group 2024 Group 2023 Company 2024 Company 2023 Wages and salar¢es Social security ¢05ts Contribution to defined contribution pension schemes 4.363.617 431,080 4,OTO, 611 368, 659 4.363.617 431,080 4.070,617 368, 659 825,567 750, 826 825,S67 750,826 5.620.264 5, 190, 096 5.620.264 5, 190,096 The amount relating to severance payments durfng the year wa$ £nil (2023.. £nil). None of the govemors (2023.. none) received any remuneration for services ag a trustee of the charity or as a director of the company, and none (2023.. none) of the governors ￿ceIVed reimbursement for expenses incurred in relation to the charity (2023.. £nilJ. Key management personnel comprise the Governors and senior management team (Officers) listed on page 2. Key management personnel received aggregate remuneration (including employers pension contribubons and employers Nll of £735,926 (2023.. £497, 782). The average number of persons employed by the Company during the year was as follows.. Group 2024 Group 2023 Employees 149 150 Page 34

ST JOSEPH'S COLLEGE READING TRUST IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. SLiff costs {continued) The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2024 Group 2023 No. In the band £60,001- £70,000 In the band £80,001 - £90,000 In the band £90,001- £100,000 In relab.on lo these higher paid employees the charity paid £85,651 (2023.. £89,327) in pension onliibuts"ons. The charity maintains professional indemnity insurance cover, which includes cover for govemors and trustees and the total premium for the year ending 31 August 2024 was £3.677 (2023.. £4,568). Page 35

STJOSEPH'S COLLEGE READING TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11. Tangible fixed assets Group and Company Long torm Long term Freehold Flxtures. leasehold Assets leasehold land and fittlngs & property under property bulldlngs equlpment Improvements construction Total Cost or valuatlon Al 1 September 2023 S,000,000 Additions Transfers between classes 68,SOO 1,396,318 47,345 4,756,488 346,859 22A95 11.243,801 394,204 22,495 122,495) Al 31 Augusl 2024 s,000,000 68,500 1,443,663 5,125,842 11.638.005 Depreciation At 1 September 2023 Charge for the year 616.667 50,000 10.975 1.221.642 457 73,979 2,353,386 324.817 4,202,670 449.253 At 31 August 2024 666,667 11,432 1,295,621 2,678,203 4.651,923 Net l)ook value At 31 August 2024 4,333,333 S7,068 148,042 2,447,639 6,986.082 At 31 August 2023 4,383,333 57, 525 174,676 2,403, 102 22,495 7,041. 131 End¢)wed a$$ets The long term ￿asehold land and building relates to the glft in 201012011 of a 999 year fttll repairing lease from the Trustees of St. Marie Madeleine Postel (the freeholderl. The asset has been capilalised at valuation of £5,000,000. The valuation was carried out by extemal valuers. Stanley Hicks, who prepared an existing use valuation, based on the current condition as at March 2011. Leasehold Propety Improvements include legal fees where identified as capital in nature. The College has ele￿ed, in accordance with Section 35.10ld} of FRS102, to use the carrying value on 1 September 2014, the dale of transition to FRS102. of any of the above freehold land and buildings previously carried al a valuation as theiT deemed cost. Page 36

ST JOSEPH'S COLLEGE READING TRUST IA ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Fixed asset investments Invg$tment$ in subsidiary companies Company Cost or valuation Al 1 September 2023 Al 31 August 2024 Not book value At 31 August 2024 At31 August 2023 Princlpal subsldlarles The following was a subsidiary undertaknng of the Company.. Nafflg Company number Reglsterod offlce or Class of Holding prlncipal place of business shares Includod In ¢on$olldatlon SJCR Enterprises 10348210 Ltd Upper Redlands Road, Reading, Berkshire. RG15JT Ordinary 100% Yes The financial results of the subsidiary for the year were.. Namo Expenditurg ProfiU{Lo$sl for the year Not as$etsl SJCR Enterprises Ltd {3.462) {3,462) 17,1831 Page 37

ST JOSEPH'S COLLEGE READING TRUST {A company limitèd by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Stocks Group 2024 Group 2023 Company 2024 Company 2023 Catering supplies and Academic resources 26,299 26,299 14. Debtors Group 2024 Gmup 2023 Company 2024 Company 2023 Trade debtors Amounts owed by group undertakings other debtors Prepayments and accrued income 113.003 191,742 113.IX)3 6A50 34,919 159.253 191, 742 3,000 55, 696 96,390 34.935 159.253 55,712 96,390 307,191 343,844 313.625 346, 828 15. Credltors: Amounts falllng due within one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans Fees for tuition received in advance Trade Creditors Other taxation and social security Fees in Advance scheme Olhef creditors Accruals 1.199.435 951,411 394,235 104,508 1,635,158 530,360 170.901 153,248 1,348,807 240,884 100,936 74,968 459,247 210,856 1,199.435 951.411 394,235 104.508 1,635.158 530,360 167,751 153,248 1,348,807 240,884 100,936 74,968 459,247 207,406 4,986,008 2,588,946 4,982,858 2,585,496 Page 38

ST JOSEPH'S COLLEGE READING TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 18. Crgditors: Amoun¢$ falling due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans Fees in Advance scheme 1, 197,549 1, 197, 549 1,457,938 1,457,938 1,457.938 1, 197, 549 1,457,938 1. 197,549 Included within the above are amounts falling due as foll¢)ws'. Group 2024 Group 2023 Company 2024 Company 2023 Between one and two yoars Bank loans 159,698 159,698 Between iwo and fivg yoars Bank loans 505, 751 505, 751 Over five years Bank loans 532, 100 532, 100 The College has four bank loans secured over the leasehold propety of the charitable company. The first loan was taken out in September 2012 at a value of £406,000 for a 15-year term and as al 31 August 2024 the outstanding balance was £120,146. The interest rate tracks at 3.01 Vo above the bank of England base rate. The second loan was taken out in April 2014 at a value of £456,750 for a 15-year term and as at 31 August 2024 the outstanding balance was £196,048. The interest rate is fixed al 4.730A. The third loan was taken out in June 2016 at a value of £558,250 for a 15-year teTh and as at 31 August 2024 the outstanding ba18nce was £295,468. The interest rate is fixed at 3.889%. The fourth loan was tsken out in May 2018 at a value of £860,000 for a 15-year temi and as al 31 August 2024 the outstanding balance was £587,773. The interest rate is fixed at 4.16%. Page 39

STJOSEPH'S COLLEGE READING TRUST {A company 1Smlted by guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Fees in Advancg Schgme (Dgferrgd incomo) Parents may enter into a contract lo pay to the school fees in advance. The money may be returned Subject to specific condition5 and on the receipt of one term's nots'ce. Assuming pupils will remain iri the school, advance fees will be applied as follows.'_ 2024 2023 Within one year Within 1 to 2 years Within 3 to 5 years Over 5 years 1,635,1 $8 1,187,279 245.821 24.838 74,968 3,093,096 74,968 Movements during the year were'.- 2024 2023 Balants at 31 August 2023 New conlractslreceipts Amounts utilised in payment of fees to the schwl 74,343 3.093.096 174,343) 40.343 74,968 (40,343) 3,093,096 74,968 Flnanclal Instruments Financial assets held al amortised ¢ost are fees ￿ceivable, other deblors, amounts due from group companies and cash at bank. Financial liabilities held at amortised cost are bank loans, trade creditors, other creditors and &¢wals. 2024 2023 Interest income and gxpensg: Total Inte￿$t expense for financial liabilrties held at amrtised Cost Impairment loss (movement in bad debt provision) 59,291 40.959 63,863 17,893 Page 4Q

ST JOSEPH'S COLLEGE READING TRUST {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 19. Statement of funds Staterngnt of funds - current year Balanee at 1 September 2023 Balance at 31 August 2024 Income Ex￿ndItUre Unrestrlcted funds General fund {542,2321 8,799,832 {9,301,6831 11,044,083) Endowment funds Leasehold 4,383,333 {50,0001 4,333,333 Total of funds 3,841,101 8,799,832 19,351,683> 3,289,250 Included above wlhin General fvnds is income of £nil and expenditure of £3,462 in relation to the wholly owned trading subsidiary SJCR Enterprises Ltd. statement of funds - prior year Balance at 1 Sept8mber 2022 Balance al 31 August 2023 Income Expenditu Unrestricled funds General fund (606,040) 8,423,302 (8,359,494) (542,232) Endowment funds Leasehold 4,433,333 (50,OOOJ 4,383,333 Total of funds 3,827,293 8,423,302 (8,409,494) 3,841,101 Included above within General funds is Incorne of £nil and expenditure of £3,722 in relation lo the wholly owned trading subsidiary SJCR Enterprises Ltd. Page 41

ST JOSEPH'S COLLEGE READING TRUST (A company limited by guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 20. Summary oflunds Summary of lunds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expendlture General funds Endowment funds {542.232) 8,799,832 (9,301,683) (1,044,083 4,383,333 (50.0001 4.333.333 3.841.101 8,799.832 19,351,683) 3,289,250 Included above within General funds 15 income of £nil and expenditure of £3,462 in relation to the wholly owned trading subSKliary SJCR Enterprise5 Ltd. Summary of funds - prior ygar Balance at I September 2022 Balance al 31 August 2023 Income Expenditure General funds Endowment fijnds (606,040) 8,423,302 (8.359,494) (542,232) 4,433,333 (50,000) 4,383,333 3,827,293 8,423,302 (8,409,494) 3,841, 701 Included above within General funds is income of £nil and expenditure 01 £3,722 in relation to the wholly owned trading subsidiary SJCR Enterprises Ltd. Page 42

STJOSEPH'S COLLEGE READING TRUST {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 21. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted Endowment fund$ funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,652.749 2,747,114 14,986.0081 11,457.9381 4,333,333 6,986,082 2,747,114 {4,986.008) 11,457,938> Total 11,044.083} 4.333.333 3,289,250 Anatysis of net assets between funds - prior period Unrestricted Endowment funds fvnds 2023 2023 Total fvnds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,657, 798 586.465 (2,588,946) (1, 197.549J 4,383,333 7,041, 731 586,465 (2,588,946) (1, 197,549) Total (542.232) 4,383.333 3,841,101 Page 43

STJOSEPH'S COLLEGE READING TRUST (A Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 22. Reconciliation of ngt movemgnt in fund$ to nèt ¢ash flow from operating actlvities Group 2024 Group 2023 Net incomellexpendibjrel for the yeai las per Statement of Financial Activities) {551.851} 13,808 Adjustments for: Depreciation char9es Decreasellincreasel in stocks De¢reasellincrease} in debtors Increase in creditors Interest paid 449.253 26.299 36,653 2,808,813 59.291 472,380 (7,508) {3,541) 168,013 63,863 N¢t Cash provlded by operating activities 2,828,458 707,015 23. Analysls of cash and cash equlvalents Group 2024 Group 2023 Cash in hand 2.439,923 216,322 Total cash and cash equlvalents 2,439,923 216,322 24. Analysis of changes in net debt At1 Soptsmber At31 2023 Cash flows August 2024 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 216.322 2,223,601 2.439,923 1153,2481 11,046,1871 11,199,4351 {1.197,5491 1,197.549 {1.134,4751 2,374,963 1.240,488 Page 44

ST JOSEPH'S COLLEGE READING TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 25. Capital commitments The College has ftjture capital cornrnitrnents of £Nil (2023.. £9,240). 26. Pension commitments Aviva Pension Trust for Independent Schools (APTISI Defingd Contribution Scheme The College participates in APTIS for rts leaching stsff. The scherne 15 operated under a net pay arrangement whereby the College pays teachers a total remuneration, and the teachers detemine the level of contributions paid into their pension. The College act5 as an agent in collecb'ng and paying over the contributions. The minimum level of employee contThbulions is 4'k. At the balance Sheet date there were 75 (2023.. 75) members active in this Scheme. During the year ended 31st August 2Q24 lolal conliibuts'ons of £666.468 were made to the scheme (2023.. £685,004) and at the yearend £54,740 (2023.. £56,229) was accrued in respect of contributions to this scheme. Standard Llfe and Scottish Widows Defined Conlribution Schemos For non-teaching staff, the charity makes contributiorbs lo one of tjvo defined contribulTron schemes whose assets are held in separate independendy administered funds. The total employer contributions made in respect of the schemes in the year and charged lo the Statement of Financial Acb'vilie5 was £68,274 (2023.. £65,822J and at the year-end £17,191 (2023.. £10,208) was accrued in respect of contributions to this scheme. 27. Commitments under leases 2024 2023 Planl and machlnery Expiring in one year Expiring in the second to fifth year Expiring after five years 72,596 103,171 99,575 38, 653 175,767 138,228 Land and buildings: Expiring in one year Expiring in the second to fifth year Expiring after five years 120,000 120,000 480,000 480,000 117.700,0110 117,820,000 118,300,000 118,420,000 118.475,767 118,558,228 Total leasing expenditure in 2023124 was £236,074 (2023.. £266,074). Page 45

ST JOSEPH'S COLLEGE READING TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 28. Relatod party transactions The Govemor, Sister M Banning, is a Sister of St. Marie Madeleine Poslel. An annual operating lease rental of £120,000 was payablo in the year to the Sisters of St. Marie Madeleine Postel in respect of the use of the College premises. See note 21. Al the balan￿ sheet date, £Nil (2023." £40,OOOJ was owed lo the Sisters of St. Marie Madeleine Postel in respect of the operating lease rental. During the year lo 31 August 2024 the Sisters of Sl. Marie Madeleine Postol contributed £35,723 (2023.- £36,603) directly to the fees receivable for the tuibon of 7 (2023.. 8) pupils. The partner of Mr Anthony Leggett, a member of the Key Management Personnel during, is employed by the School under a standard contract of employment. approved by the Govemors. Mr Leggett was not part of the appointment process. The son of Mrs Sharon Boccaccini. a member of the Key Management Personnel, was employed by the School under a standard contract of employment, approved by the Govemors. Mrs Boccaccini was not part of the appointment process. The partner of Mfs Laura Stotesbury, a member of the Key Management Personnel, is employed by the School, as a teacher, under a standard contract of employment. approved by the Govemors. Mrs Stolesbury was not part of the appointment process. These close family members of the Key Management Personnel employed by the school, received taxable income of £64,502 (2023: £70, 629) Mrs Laura Stotesbury, who wa5 appointed as the Head of the College in September 2021, has Iwo children who joined the Col￿ge as pupi15 in the Autumn term 202112022. As a member of staff Mrs Stotesbury receives a staff discount for tuition fees. Mrs Natalia Jwaideh, a member of the Key Management Personnel, has two children who attend the College as pupils. As a member of staff Mrs Jwaideh receives a staff discount for tuib'on fees. Mr Mathew Jones, a member of the Key Management Personnel, has two children who attend the College as pupiL8. As a member of staff Mr Jones receives a staff discount for tuition fees. The subsidiary, SJCR Enterprises Limited, provides leisure and recreational services lo young people ané donates ils annual taxable profits to the College under Gift Aid. During the year due lo no activity in SJCR Enterprises nil management charge was received into the College (2023.. nilj. At the year end the balan￿ outstanding was a creditor of £6,450 (2023.. £3,000) The gift aid donalion for this year was £Nil {2023.. £Nil) Page 46