THE MAIUST BROTHERS ANNUAL REPORT - 31 DECEMBER 2025 Scottish Charity Number SC018168
THE MARtST BROTHERS TRUSTEES, REPORT For the Year Ellded 31 December 2025 Th¢ Trustee5 present th¢ir rep)rt with the financial statements of the charity for the year ¢nd¢d 31 Dember 2025. The Trustees hav¢ adopted the provisions of Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in COrdanCe with the Financial Reporting Standard applicable in the UK and Republi¢ of Ir¢land (FRS102) (effective I January 2019). Reference and Administrative Details hari Numb¢r SC018168 Prin¥1 ffice 29 (l F2) Havelock Stree¢ Glasgow. Gl 15HA Trustees The trustees who served during the year and sin¢e the year end were: A R M¢Ewan B Geary J McKee PJ McGowan The above persons were trustees of the charity on the date this report Wus appi'vved. Chief Executive OtTic¢r G Devlin Inde en ent Examiner J 0'Har O'Haras. Chartered Accountants. l Golf RO Glasgow, G76 7HU Solicitors Levy & McRae LLP (incorpornting Giusti Martin) Pacific House 70 Wellington Street Glasgow G2 6UA Princi l Banker Bank of Scotland. 91 High Street, Dumfri¢s. DGI 2BN Inveslment Mana ers Rathbones Investment Management, l O George Street, Edinburgh, EH2 2PF Structure, Governance 2nd Management Governin Do¢um¢nt The Marist Brothers. operating under deed of trusL have conducted religious. educational and other charitable activities in the unit Kingdom stnce l 852. Trust¢es The trust¢es ar¢ those metnb¢rs of ihe board of management of the British activities of The District of West Central Europe of the Province of L'Herniitage of the Institute of the Marist Brothers. New trustee5 may be appointed or assumed by resolution of the trustees. All new trustees are infornied of their legal obligations under charity law. They are introduced to the employees of the charity and are briefed on its objectives. slrdtegic plans, finances and key activitie5. The trustees are encouraged to attend to their continuing professional development in all are&s which will a5SiSt them in exercising their rol¢ as trustees.
THE MARIST BROTHERS TRUSTEES, REPORT (Continued) For the Year Ended 31 Deeember 2025 anisation The board of trustees has overdll responsibility for th¢ strategic direction and administration of the charity. Day to day operations ar¢ managed by an Executive Director (chief executive officer) who works closely with the chairnian of the board of trustees and who, together with the chaimian. h&s delegated authority for all operational matters. Mana yeinent Remunerati All trustees give of th¢ir tim¢ freely and do not receive reJnuneralion for their role. The chief executive officer is reniunerated commensurate with his role within the organisation. The remunerdtion of all staff is dependent on the skills. expertence and qualifications they bring to their role and is matched as far as possible with local market levels. Related Parties The charity has supported the development of the Kinharvie Institute, a charity which is concemed with personal development and growth. One of the current trustees is also a trustee of the Kinharvie Institute and of the Marist Brothers (Ireland). Another is a trustee of the Marist Brothers (Ireland) and another is Secretary to the Champagnat Schools Ireland and a Trustee of the Marist Brothers HFMN INetherlands) and of the Medaille Trust. The relationships with the Kinharvie Institute. Champagnat Schools Ireland, Marist Brothers (Ireland tNetherlands) and the Medaille Tst do not in any way inhibit the charity fn)m pursuing its own separate interests. The Marist Brothers {Gerniany) have supported the charity through allowin8 retired brothers to live rent-free in properties purchased by them. Risk Manaoement The trustees have examined the major risks which the charity faces and have acted to ensure that the risks are effectively monitored and th¢ir impact Tllitigated as far as possible. Objective$ and Aetivities The overriding purpos¢ of the charity 15 to enable the Marist Brothers to conduct religiou5. educational and other charitable work in Britain and elsewher¢, for the benefit of individuS and groups regardless of Creed, age, sex or any other expression of discrimination. The charity aims to work ¢los¢ly with the poor and the needy offering care. education. training and support as the ¢iUmStanceS require. This work is conducted in an atmosphere of a¢c¢ptanc¢ and challenge with a view to encouraging the p¢rsonal development and growth of all with whom we work and serve. Achievements and Performance The charity's core services were maintained in 2025. together with the focus on reaching out to the poor and needy from all sections of the community. A diverse range of national and international counselline0ChIng, training and support services were conducted and supported and various opportunities for person&1 and Spirial welfare including workshops and other religious services were provided. A broad range of groups and individuals in need have been supported. We remain cornmitted to the sUPPOrt of the provision of fomal and infortnal education in developing ¢Duntries as well as in Brilain and to the provision of support for the brothers who are retired and infim. Research in safeguarding matters has ¢ontinu¢d to be a focus, t0ether with th¢ d¢v¢lopm¢nt of training and wor4(shops in this area.
THE MARIST BROTHERS TRUSTEES, REPORT (Continued) For tbe Year Ended 31 Decetnber 2025 Financial Review. The financial statsments are presented on pag¢s six to thirteen. Total funds increased in the year by £164.063 (2024 - d¢creased £108.147) and the balance on the general fund at 31 December 2025 is £2.802,178 (2024 - £2,638,11 S). The trustrcs are satisfied with the finat]cial position of the charity and continue to monitor and review the in¢ome, expenditure and assets of the charity with a view to ensuring that the Charity's financial affairs are conducted in a prudent and eff¢ctiv¢ manner. The principa] funding source5 in the year were the ¢ov¢nanted pensions income of individual Marist brothers and a legY donation. The principal eXpendire in the year was in respect of the deliv¢ry of the charitable activities described above. Res¢tv¢ Policv It l5 the policy of the charity to maintain unrestricted funds at a level to meet the current and future activities of the Marist Brothers and to support work which furthers the objectives of the charity. All of the charity's funds are currently unrestricted and contained in one general fund. Investment Polic The trustees have considered the most appropriats policy for investing fvnds and have instructed the charity's investrnent managers to develop and run a relatively defensive portfolio of fixed interest and equity stocks suitable for th¢ ¢hartty sector. The investment managers monitor and adjust the portfolio from time to time in accordance with th¢ir view of the mark¢ts and apprnise the trustees regularly. The portfolio produced a totsl return (net) in the year of120/0, against a return of 8.6•/0 in the ARC Sterling Charitie5 Steady Growth Index. Plans for Future Periods The ¢are and health ne¢ds of the ageing brothers will continue to be a major focus, and we will review and adapt on an ongoing basis to meet the particular needs arising. Responding positively to both formal and illfornial education requests and the provision and suptrtirt of coun5ellinglcoaching, training. spiritual welfare and other support services will be maintained. Research and training in Safeguarding will also continue to be a specific focus. Funds Held as Custodian for Others From time to time the ¢harity acts as custodian of certain Brothers, personal bank accounts and funds. Procedures and checks are in pl&ce to safeguard such ftmds and to ensure these are only used for appropriate purposes.
THE MAIUST BROTHERS TRUSTEES, REPORT (Continued) For the Year Ellded 31 December 202S Tru5tees' Responsibililies in relation to Ihe Financial Stalements The Trustees are responsible for preparing the Trustees, R¢port and the financial sÉatem¢nts in accordanc¢ with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice) including FRS102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" The law applicable to charities in Scotland, th¢ Charities and Trustee Investment (Scotland) Act 2005. Charitie5 AountS (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. requires the Trustees to prepare financial statements for ¢a¢h financial year which give a true and fair view of th¢ state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure. of the charity for that period. In preparing those finan¢ial statsments, th¢ Irustees are required to: select suitable accounting policies and then apply them consislently. observe the methods and principles in the Charity SORP- make jLLdgements and estimates that are reasonable and prudent. state whether appli¢abl¢ accounting standards hav¢ been followed. subject to any material departures disclosed and explained in the financial statements- prepare th¢ financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which dis¢los¢ with reasonable aCcUrY at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005. the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's Constitution. They are also resEK)nsible for safeguarding the assets of the charity and bence for taking r¢asonable Steps for the prevention and detection of fraud or other irregulaTlties. Approved by order of the board of trustees on 15 July 2026 and signed on its behalf by: A.R. McEwan (Chairnian) 20 August 2026
THE MARIST BROTHERS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MARIST BROTHERS We report ot] the accounts of the Charity forthe year ended 31 Decnber 2025, whi¢h are set out on pages6to 13. Resptctive re5ponsibilitie5 of tru$ttt8 And examiner The Charity's tnte5 are responsible ft>r the preparation of the accounts in (oanCe with the teTms of the Charities and Trustee Investrnent (Scotland) Act 2005 and the Charities Ac¢ounts (Scotlandl Regulations 2006 {as amended). The Charity's ttustees eonsider that the audit requiremenl of Regulation 10(1) {a) to {c) of the ?006 A¢¢ounts Regulations does not apply. It is our responsibility to examin¢ the accounts as r4uired under section 44(1) {cl of the Act and to state wheth¢r particular matters have come to our attention. Basis of independent examiner's staÉemeDt Our ¢xamination is ¢arried out in accoTdan¢e with Regulation I l of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the Charity and a ¢QTllp8rison of the accounts presented with those re&)rds. li also ineludesconsideration of any unal items or disclosure5 in the a¢¢ount5 and seeks ¢xplanations from the tNstees concerning any such matter& Th¢ pro¢edures undertaken do not provide all the evid¢nee that would be required in an audiL and ¢onsequenily we do not express an audit opinion ot] the view gsven by the accounts. Ind¢peDdont exMminer's itatsmtnt In the Course of our examination, no matter has come to ow altention: which gives us reL8onable cause ¢0 believe that Èn any material reSpt the requirements: to keep ac¢ounting records in a¢¢ordance with Sethion 4411) (a) of the 2005 Act and Regulation 4 of the 21X)6 Accounts Regulations, and lo prepare accounts which aceord with the accouDting records and comply with Regulation 8 of the 2(K)6 Accounts R¢gulations have not been meL or to which, in ouropinion. attention should be drawn in orderto enable a prowunderstanding of the accounts to be rvdche(L John O'Hard O'Haras Chartered A¢¢ountant Radleigh House l Golf Road Clarkston Gl&%gow G76 7HU ,/y/?G
THE MAIUST BROTHERS sTATE1[ENr OF FINANCIAL ACTIVITIES For the Year Ended 31 December 2025 2025 2024 Nole Income from: Donations and legacies Investments Other 287295 60J61 20,063 2l7.399 72.839 25,883 Total income 367,719 3l6.l21 Expenditure on: Raising funds Charitable activiti¢s l.lll (5.683) (5.678) (359029) (453,032) Totsl expenditure (365512) (458,710) Net GllS l Oosses) on investment assets l.v, 7 161056 34.442 Nel income l (pendIture) 164.063 (108,147) Other re¢ogllised gains1(lo&ses): Gainsl(losses) on revaluation of Fixed Assets 1¥4el movemeDI in lld8 164,063 (I08.147) Recon¢i]iation of fund Totsl funds brought fornvard 2,638,115 2.746,262 Totsl carried fornrd 2,802,178 2.638,115 All funds are unrestricted. The Statement of Financial Activities h&% b¢¢n prepared on the basis that all operntions are continuing op¢ratiODS. The accompanying notes ar¢ an integral part of these fllwicial stat¢m¢nts.
THE MARIST BROTHERS BALANCE SHEET Ag at 31 Deeember, 2025 2025 2024 Note Fixed assets Tangible assets- Land and buildings Investments l.iv, 10 l.v, 7 697,777 697.777 1,974267 1,808,250 Total fixed A8se18 2,672,044 2,506.027 Current Sets Debtors Cash at bank and in hand li 66,846 77,151 6,099 136,496 Tot21 current as8ets 143997 142.595 Liabilities Creditors: Amounts falling due within one year 12 {13O63) (10.507) P4et current ets 130,134 132.088 Total assets le&s current liabilities 2002,178 2,638,115 Net Assets 20112,178 2,638,115 Total ¢harity funds {ullrestrided) 2002,178 2,638.115 All fidS are Unrestricted. The accompanying notes a On integral part of these fmanciai statem¢nts. Approved by the Trustees on 15 July. 2026 and signed on their behalf by: A.R. McEwan (Chairnian)
THE MARIST BROTHERS NOTES TO THE FINANCIAL STATEMENTS For the Ye*r Ended 31 December2025 l. Accounting poli¢i¢s The principal accounting policies are- Basis of preparntiou The financial statements are prepared under the historical Cost convention (except in lation to the revaluatiOT] of Ild and buildings and th¢ incorporation of the Managed Investment Portfolio at market value) and in a¢cordan¢e with the Charities SORP {FRS102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice appli¢abl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Charities and Trust¢e Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Marist Brothers chartty is a public benefit entity as defined by FRSIO2. Going Con¢ern- The Trustees consider annual budgets and management accounts to monitor the ¢harity. They continue to believe the going conc¢rn basis of aOnting appropriate in preparing the financial statements. Ther¢ ar¢ no material uncertainties about the charity's ability tr> continue as a gotng concern. Critical accounting judgements and key sources of estimation uncertainty- The preparation of the financial statements requires management to make judgements. estimates and assumptions that affeet the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for ineotne and expenditure durin8 the year. However. th¢ nature of ¢stimation means that actual outwm¢s Could differ from those estimates. The estimates and underlying assumptions aTe reviewed on an ongoing basis. Revisions to a¢counting estimates are recognised in the period in which the estimate is revised if th¢ r¢vision affects only that period, or in the period of the revision and future periods if ihe revision affects both current and future periods. No significant judgements have had to be made by mkm&8ement in preparing these financiaI ststements. IDeome All incoming resources ar¢ included when the charity is legally entitled to the resources. it is probable that th¢ resources will be received. and the monetary value of incoming resources can b¢ measured with sufficient reliability. No incoming resources are d¢f¢rred. iii. Expenditure Liabilities are recognised as expenditure as soon as th¢re is a legal or constructive obligation cotnmitting the charity to that expendIre, it is probable that a transfer of economic benefits will be required in settlemeni and the amount of the obligation can be measured reliably. All expenditure is included on an accruals basis and r¢lates directly to charitabl¢ activities except for the expenditure on raisin¥ funds which is the investment managers, fees.
THE MARtST BROTHERS NOTES TO THE FINANCIAL STATEMENTS (Continued) For tbe Year Ended 31 Decetnb¢r 2025 iv. Tangible fixed assets Land and Buildings are accounted for as tangible fixed assets yath¢r than investment properties a5 they at¢ held in pursuit of the charity's primary objectives, rather than for their investtnent. potential. Such assets are initially measured at their historical cost on the Balan¢e Sheet but then revalued to fair market value. Land and Buildings are not depreciated as they are valued annually by th¢ trustee5, who consider their residual value to be equal to their fair value. Any change in value from the previous year is made by way of a revaluation gainlloss adjustment through the Statement of Financial Activities. In the trustees, opinion. the use of a policy of revaluation provides mor¢ relevant inforn)ation about the value of such assets owned by th¢ charity. Other tangible fiKed assets are written off at the time of purchase and any fiu1her capital expendithre on the assets is written off when incurred. Investments The invesknents of the charity comprise a managed wrtfolio of listed sh8res and securities. Also, funds are held in short trrni bank deposit l investment accounts. As noted in i. ab)ve. the Managed Investment Portfolio is included in the Balanc¢ Sheet at market value. The in¢om¢ from this N)rtfolio is include.d in Investments inc.ome and both realiqe.d And unrealised gains are included in Net Gainsl(losse5) on investment assets. The investments asset and the genernl fund in the Balance Sheet are Increas I d¢creased by the Net investmellt portfolio gains Ilosses and income. 2. Legal status of the charity Th¢ tharity operat¢s under a Deed of TrusL 3. Donations and legacie8 illcome This comprises th¢ wvenanted pensions of individual Marist brothers and donations and legacies. received as follows: 2025 2024 Covenanted income Donations and legacies 178,608 184,399 I08,687 33,000 287,295 217.399 4. Investmeot income This comprises interest receivable on Charity bat& accounts and income from the managed investtnent portfolio &s follows: 2025 2024 Bank in*re5t Portfolio income (Note 7) 517 59,844 1.306 71,533 60,361 72,839
THE MARtST BROTHERS NOTES TO THE FINANCIAL STATEMENTS (Continued) For the Year Ended 31 December 2025 S. Other Income 2025 2024 Gain on sa]e olassets Sundry Fees 20,063 25,883 20.063 25,883 6. Charitable aetivitio8 expenditure 2025 2024 CommunitiePrOjCCts InsuranceslRates Course fees Trav¢1 PrOf10n&1 Fees Repairs / Refitsbishment Other Expenses 200.111 231.212 7,676 7,066 3,255 22,704 14,180 76,217 126,083 124,357 359,829 453,032 7. GaiDS I {losses) oll investment assets The movements in the managed investment portfolio of listed shares and securities in the p¢riod were as follows.. 2025 2024 Opening Valuation at l January 1.808.250 1,817,953 Funds withdrawn 50,000 i 10,000 Inv¢slm¢nt income (reinvested) 59,844 71,533 Realised losses Unrealised gains/(losses) (73,701) (8.436) 235.557 42,879 Total gainsl(losses) in year 161.856 34,442 Raising funds costs.. Investment managers fees (5.683) {5,678) Closing Valuation at 31 December 1,974,267 1.808 ?50 8. Taxation Given the regnised charitable status, no provisioll is considered necessary for taxation. io
THE MARIST BROTHERS NOTES TO THE FINANCIAL STATEMENTS (Continued) For the Year Ended 31 DeceDJber 2025 9. Staff costs 2025 2024 Wages and salari¢s Social security costs Pension costs 99,807 4,495 13,130 93.791 7.564 12,497 117.432 113,852 Averdge number of employees One staff member was paid emolum¢nts above £60,000. Emoluments of £81.540 (2024- £78,780) and the above pension costs were paid in respect of the chief executive officer. No remunerdtion or ¢xpenses were paid to the trustees of the charity. 10. Tallgxble red assets As stated in Accounting Policies l.iv, no deprlatIOn provision is made in respect of Land d Buildings and other tangible fixed assets are written down to NIL value . This is not in cordance with generally accepted accounting practice but is considered appropriate in the contayt of the charity's activities. ii. Movoment in Land and buildings: Valuation at 31 December. 2024 Purchases Disposals Increase/(d¢¢rea8e) in valuation £ 697.777 Valuation at 31 December, 2025 £ 697.777 In addition to the Land and Buildings included tn the Balance SheeL the charity owns properties at Dowanhill St. and Havelock St., Glasgow which are let on long leases to the charity Kinharvie. These assets have not been included in the Balance Sheet primarily because their use by the charity is restricted on a long tenn basis and th¢ trustees do not believe that the cost of valuing them would b¢ wmmensurate with the benefit derived frotn includin8 them in the Balan¢¢ Sheet. iv. Land and Buildings are valued annually by the Trustee% based on independent valuatiODS sought from estate agents and surveyors.
THE MARIST BROTHERS NOTES TO THE FINANCIAL STATEMENfs (Continued) For the Year Ended 31 December 2025 11. Debto 2025 2024 Other debtors 66,846 6.099 66.846 6,099 Oth¢r debtors are recognised at th¢ settlement amount due less any impaiment losses for bad and doubrful debts. 12. Credilors Amounts falling due within one year.. 2025 2024 General creditors Accrued costs 1,875 11,988 1,592 8.915 13,863 10,507 Creditors and provisions are recognised where the charity has a present obligation resulting from past event that will probably result in the transfer of funds to a third party and the atnount due to s¢ttle the obligation can be measured or estimated reliably. 13. Related party traDSaCtiolls. The charity supported the Kinharvie Institute in the year principally through the lease at a nominal rent of premtses in Glasgow. An aggregafr contribution of £20,263 (2024- £17.958) was made by the Charity to Kinharvie Institute in respect of personnevother costs. Other Income includes £4,989 of sundry servi¢¢s f¢es from Kinharvie Institute. The Marist Brothers (Gemany) have allowed the use rent-free of retirement properties owned by them. The charity meets living and m&intsnance costs of all British brothers includin8 those who trustees. There are no other transactions with trustees. 12