RELIGIOUS OF THE ASSUMPTION
Education, widely understood, is our main activity. Through it we seek to promote the growth and well-being of the individual and the transformation of the society in which they live. Today, most of our work is in non-institutional settings. Through personal contacts, in catechetical programmes, retreats and in our website we promote Christian attitudes to human dignity and respect for our planet.
Financial health, per its FY2024 accounts
The accounts state that the charity transferred all its assets, liabilities, and activities to a newly established CIO effective 1 January 2025, resulting in the original charity becoming dormant. Consequently, the financial statements were prepared on a basis other than going concern. The trustees note that while there was a deficit between income and expenditure, significant reserves were built up in anticipation to meet this shortfall.
What the accounts disclose
“In the circumstances, the trustees consider that the current reserves are adequate for, but not materially excessive to, the future needs of the charity.” — page 13
“Accordingly, the financial statements have been prepared on a basis other than going concem as described in note 1.1.”
“The trustees of the Charity are all members of a Religious Order and as such have taken vows of poverty under which they renounce all rights to personal income and assets. They are therefore entirely dependent on the Charity for all their living expenses. The trustees do not receive any payments or benefits for carrying out their duties other than their living expenses which are met by the Charity and which they receive in their capacity as members of the Religious Order.” — page 34
Year-over-year changes
- Going concern: no going-concern doubt (FY2023) → not a going concern (FY2024).
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Sr Maureen Gertrude Connor r.a.chair
- Cecile Andre Marie Suzanne Franquin r.a.
- Sr Anne Thielen r.a.
- Sr Catherine Cowley r.a.
- Sr Catherine Jones r.a
- Sr Danguole Gervyte r.a
- Sr Jessica Margaret Gatty r.a.
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £0 | £0 |
| 31/12/2024 | £2.0m | £2.9m |
| 31/12/2023 | £1.8m | £3.1m |
| 31/12/2022 | £1.8m | £2.9m |
| 31/12/2021 | £1.1m | £2.9m |
Common questions
Is RELIGIOUS OF THE ASSUMPTION financially healthy?
Per its FY2024 accounts: The accounts state that the charity transferred all its assets, liabilities, and activities to a newly established CIO effective 1 January 2025, resulting in the original charity becoming dormant. Consequently, the financial statements were prepared on a basis other than going concern. The trustees note that while there was a deficit between income and expenditure, significant reserves were built up in anticipation to meet this shortfall. Its FY2024 accounts were audited by HaysMac LLP.
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Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| RELIGIOUS OF THE ASSUMPTION | £0 | — | — | above | — | not going concern |
| LITTLE SISTERS OF THE ASSUMPTION CHARITABLE TRUST | £273k | — | 0 | above | — | no doubt |
| THE RELIGIOUS OF CHRISTIAN INSTRUCTION | £134k | — | 0 | unclear | — | no doubt |
| SOCIETY OF THE HOLY CHILD JESUS CIO | £4.4m | — | — | within | — | no doubt |
| Religious of the Sacred Heart of Mary, Immaculate Virgin, EAP | £1.3m | — | 0 | unclear | — | no doubt |
| ASBOL LTD | £134k | — | 0 | unclear | — | no doubt |