Religious Sisters of Charity CIO
Unaudited Report and Accounts
31 December 2024
Charity Registration Number 1206893
Contents
Reports
| Reports | |
|---|---|
| Reference and administration details of | |
| the charity, its trustees, and advisers | 1 |
| Trustees’ report | 2 |
| Accounts | |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Principal accounting policies | 8 |
| Notes to the accounts | 9 |
Religious Sisters of Charity CIO
Reference and administration details
| Trustees | Sister Mary Teresa Clarke (appointed 6 February |
|---|---|
| 2024) | |
| Sister Jacinta Mary Boland (appointed 1 January | |
| 2025) | |
| Sister Catherine Egan (appointed 1 January 2025) | |
| Sister Patricia Maria Lenihan (appointed 1 January | |
| 2025) | |
| Principal address | St Joseph’s Convent |
| 36 Mare Street | |
| London | |
| E8 4AD | |
| Telephone | 020 8510 3675 |
| bursar@rsocaritas.org | |
| Charity registration number | 1206893 |
Religious Sisters of Charity CIO
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Trustees’ report 31 December 2024
The trustees present their report together with the accounts of Religious Sisters of Charity CIO (the “charity” or the “CIO”) for the period from the date of registration with the Charity Commission i.e. 6 February 2024 to 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out on page 8 of the attached accounts and comply with the charity’s Constitution, applicable laws, applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Introduction
The Religious Sisters of Charity (the “Congregation”) is a Roman Catholic religious congregation, founded by Venerable Mary Aikenhead in Ireland in 1815 where its Generalate is still located. With her Sisters she visited and ministered to the poor in their homes, she visited prisons, started schools and eventually realised her dream: a hospital for the poor where they could be treated with dignity and compassion. Today we carry on this work where possible. The Congregation is governed by its own constitution.
The accounts accompanying this report are the first accounts of the Religious Sisters of Charity CIO, a charity registered with the Charity Commission on 6 February 2024, Charity Registration No. 1206893.
The charity was dormant throughout the period to 31 December 2024. With effect from 1 January 2025, the assets, liabilities, and activities of Religious Sisters of Charity (Charity Registration No. 231323) (the predecessor charity), were transferred to the charity in accordance with a legal deed of transfer.
Mission
The English/Scottish Community of the Congregation of the Religious Sisters of Charity aims to support the religious and other charitable works in the service of the poor, carried out by the members of the Congregation, and to care for those members throughout their lives with the Congregation.
When setting the objectives and planning the work of the charity for the year, and when encouraging the work of the individual sisters, the trustees give careful consideration to the Charity Commission's guidance on public benefit. The ministries of the sisters of the Congregation, all of which benefit numerous members of the general public, can be defined under the following areas:
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Trustees’ report 31 December 2024
Mission (continued)
Worship and prayer
Our prayer life is a very important aspect of our daily living. Our sisters devote time each day to both private and community prayer and with the wider community in the parishes where they live in celebration of the Eucharist. A period of six to eight days is set aside each year for individual retreat. Sisters also celebrate and pray with the wider community in gatherings of people of all faiths and none and are just present and available to listen and guide people with their daily problems and concerns.
Social and pastoral care
Many of our sisters continue to volunteer in various forms of social and pastoral care in England and Scotland and covering all aspects of Church life. The sisters are a listening ear for those living alone, a sympathetic presence for the sick, isolated, fearful, bereaved and the lonely. We seek to reach out to the poor and marginalised in the areas where we live, regardless of their beliefs, gender or personal circumstances.
Achievements and performance
All of the above ministries together with other activities of the sisters will be accounted for through the charity with effect from 1 January 2025. However, as noted earlier, the charity had no activities and hence no income or expenditure during the period from 6 February 2024 to 31 December 2024.
Reserves policy
The trustees will develop a meaningful reserves policy over the next financial year but do not expect it to differ materially from that of the predecessor charity.
Future plans
As noted above, with effect from 1 January 2025, the assets, liabilities, and activities Religious Sisters of Charity (Charity Registration No. 231323), were transferred to the charity. The charity will continue the work of its predecessor charity as described in its own annual report and accounts for the year to 31 December 2024 and the trustees do not anticipate any significant changes to those activities in the year ahead.
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Trustees’ report 31 December 2024
Governance, structure and management
Governance
The charity is a Charitable Incorporated Organisation (CIO) governed by a Constitution and registered with the Charity Commission on 6 February 2024.
The names of the current trustees are given on page 1 of this document.
Membership
The Congregational Leader, by virtue of holding that office, is ex-officio the sole member of the CIO for as long as she holds that office.
If the CIO is wound up, the member of the CIO has no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Structure and management reporting
The trustees are ultimately responsible for the policies, activities, and assets of the charity. They meet regularly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including investment managers, solicitors, and accountants.
Trustees
The charity’s trustees are listed on page 1 of this report and accounts. At any time, there must be a minimum of four trustees. A maximum number of up to seven trustees may be appointed to the CIO.
In selecting individuals for appointment, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Key management personnel
The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis. They receive no remuneration or reimbursement of expenses in connection with their duties as trustees or key management personnel.
Risk management
The trustees will develop the charity’s risk management policy over the coming year but do not anticipate that the significant risks, controls and other mitigating actions will differ significantly from those of the predecessor charity which are described in its own annual report and accounts for the year to 31 December 2024.
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Trustees’ report 31 December 2024
Statement of trustees’ responsibilities
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of its income and expenditure during that year. In preparing accounts giving a true and fair view, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity, and which enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the charity's trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
Sister Mary Teresa Clarke, RSC.
Trustee
Approved by the trustees on: 20[th] October 2025
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Statement of financial activities Period from 6 February 2024 to 31 December 2024
| Period from 6 February to 31 December 2024 £ |
|
|---|---|
| Total income Total expenditure Net income and net movement in funds for the period Reconciliation of funds: Total funds brought forward at 6 February 2024 and carried forward at 31 December 2024 |
— — |
| — | |
| — |
The charity had no recognised gains and losses during the above financial period and therefore no separate statement of total recognised gains and losses has been presented.
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Balance sheet 31 December 2024
As there has been no activity from the period of registration to 31 December 2024, the charity had no assets or liabilities at that date.
Approved by the trustees and signed on their behalf by:
Sister Mary Teresa Clarke, RSC.
Trustee
Approved on: - 20[th] October 2025
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Principal accounting policies 31 December 2024
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
Basis of preparation
These accounts have been prepared for the period from registration with the Charity Commission on 6 February 2024 to 31 December 2024.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nearest pound.
Critical accounting estimates and areas of judgement
Other than the assessment of going concern, the preparation of the accounts did not require the trustees to make any significant judgements or estimates.
Assessment of going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that once the charity commences activity, it will have sufficient resources to meet its liabilities as they fall due.
Income recognition
Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
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Notes to the accounts 31 December 2024
- 1 Staff costs, key management personnel and trustees’ remuneration
The charity did not have any employees during the period and therefore incurred no staff costs.
The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis.
The trustees received no remuneration or reimbursement of expenses in connection with their duties.
2 Taxation
Religious Sisters of Charity CIO is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
3 Related party transactions
There were no related party transactions requiring disclosure in the period.
4 Post balance sheet events
On 1 January 2025, the assets, liabilities, and activities of Religious Sisters of Charity (Charity Registration No. 231323), were transferred to the charity in accordance with a legal deed of transfer.
5 Member’s liability
The Congregational Leader, by virtue of holding that office, is ex-officio the sole member of the CIO for as long as she holds that office.
If the CIO is wound up, the member of the CIO has no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
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