Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
Charity registration number 234201
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Sr. M J Mikol
Sr. B WIe￿k
Sr. M Czerniak
Sr. S Tupaj
Sr. R Lofek
(Appointed 27 April 20231
(Appointed 27 April 20231
Charlty number
234201
Independent examiner
AEL Markhams Ltd
2nd Floor
201 Haverstock Hill
Belsize Park
London
United Kingdom
NW3 4QG
Bankers
Barclays Bank plc
Enfield Branch
20 The ToiNn
Enfield
Middlesex
EN2 6LY
Metro Bank
1 Southampton Row
London
WC1B SHA
Sollcltors
Bates Wells
10 Queen Street Place
London
EC4R 1BE
Stone King LLP
13 Queen Square
Bath
BA12HJ

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
CONTENTS
Page
Trustees, report
Statement of Trustees, responsibilities
Independent exarninerfs report
Stslemenl of financial activities
11
Balance sheet
12
Notes to the financial statements
13-21

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report and financial slalements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out In note 1 to the
financial stslement5 and comply with the Charty's Trust Deed, the Charities Act 2011 and °Accounling and
Reporting by Charities." Statement of Recommended Piaclice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland IFRS 1021" las
amended for accounting periods commencing from 1 January 20161
Trust Establlshment
The Sisters of the Holy Family of Nazareth (Good Shepherd Province) is a religious trust govemed by a Trust Deed
dated 3rd April 1964 and is registered with the Charity Commission, Charity Registration No. 234201.
Incorporation
While the Charity is unincorporated, the Trustees are incorporated. This allows the property owned by the Charity lo
be legally registered in the name of the Charity rather than the individual Trustees.
Charty Contsct Details
The Sisters of the Holy Family of Nazareth IGood Shepherd Province)
52 London Road
Enfield,
Middlesex
EN2 6EN
Tel 020 8363 4483
Email.. smjm@csfn.cc

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES. AIMS AND PRIORITIES
Charltable ObJ9¢ts
The Trust Deed of 3rd April 1964 slates the objects of the Charity as..
"Such charitable purposes which advance the religious and other charitable work for the time being carried on by or
under the direction of The Society" The Society refers lo the women known as the Sisters of the Holy Family of
Nazareth IGood Shepherd Province), a part of the intemalional religious congregation known as the Sisters of the
Holy Family of Nazareth.
Alms ofthg Charlty
The prinapal aim of the Charity is the support of such charitable purposes as lo advan￿ the religious and other
charitable work carried on by the congregation of The Sisters of the Holy Family of Nazareth (Good Shepherd
Province) in accordance with its mission. Such purposes indude the advancement of the Roman Catholic religion,
thè advancement of education, the witness to Christian values, caring for families, the elderfy and the needy, and
the promotion of justice and peace.
Prlorltlos
In 2023 the Charity wntinued lo fows on the following areas..
lil Providing care and improved housing for the elderly.
lill Supplying personnel lo parishes and schools lo support pastoral and educational services.
liiil Conlribuling lo the educational and cultural advancement of chIld￿n and adults, especially migrants.
livl Making space, facilities and support available lo organisalions whose work aligns and suppotts the charitable
objectives of the Charity and the Charity Commission public benefit guidan￿.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
ACTIVITIES
The Trustees regard the Charty as a public benefit entity and have given due regard to the guidance on public
benefit issued by the Charity Commission. The activities of the Charity are carried out for the public benefit, focusing
on the advancement of the religious and other charitable worf( carried out by the Sisters of the Holy Family of
Nazareth IGood Shepherd Province), located in England. The activities are undertaken through the volunteer work
and ServI￿S provided by members of the congregation and others who devote lime and effort to support them. A
broad range of unpaid charitsble activities are undertaken as outlined below..
Promotion of Religion
lil Provision of a place of worship
The Charity provides a chapel for publi¢ worship in Enfield. The Maronite ¢ommunily has regular weekly Masses
and the local public attend weekday setvices.
lill Raising awareness and understanding of religious beliefs and praCti￿S
The members of the Religious Order supporting the Charity are available for consultation, lead parish groups and
offer support lo catechetical parish programmes.
liiil Promotion of prayer and praise and organisalion of religious devotions
Morning masses are open lo the public three times per week as well as adoration of the Blessed Sacrament. On
special feast days additional services tske pla￿.
livl Maintenance of public religious burial places
The members of the Religious Order deal with the maintenance of graves owned by the Charity.
lvl Provision and maintenance of religiou5 artefacts and items used in religious services or practices
Vessels and items required for church services are kept in usable order and prepared for use on a daily basis in the
Charity chapel and the local Catholic parish.
Ivil Production, performance and promotion of religious musical narratives
The Charity provides personnel who organise and implement religious musical events working with children and
adults in groups and choirs.
Iviil Organisalion of cultural and communty activities provide in the place of worship and in the Charity's facilities
The Charity facilitates the organisation of events and makes facilities available for migrants and other groups, lo
promote cultural cohesion.
Promotlon of Educatlon
The support for organisalions offering education of children, youths and adults is a key aspect of the work of the
Charity.
lil Support for the work of education establishments which provide education in accordance with the prinaples and
practices of Catholicism
The Religious Order managing the Charity appointed three of its members lo three Catholic schools ISI Thomas
More School, Sl Vincent's Catholic Primary and Our Lady Catholic High School) lo engage in educational aclivilies.
lill Funding for edu¢alion and books
Financial support was given to undertake English language programmes of study.
liiil Organisation of playgroups
Informal educational activities are organised by the Charity in ils facilities, focussing on the needs of migrant
families.
livl Facililalion of out-of-school education and activities in music, such as choirs
Once a week the Polish Choir, comprised of youth and adults, meet lo learn. practi￿ and prepare for church and
publi¢ performances. In addition. the Charity provided online and onsite musi¢ classes for migrants. including voice
projection and conducting.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Promotlon of Educatlon contlnued
lvl Offering support for students with disabilities
Charity personnel work on a part.lime basis in Sl Anne's Primary School supporting the educational development of
children with disabilities.
Rellef of those In nee(1
lil Care services for the elderly
The Charity is responsible for the care, accommodatlon and provision of all services for the elderly members of the
Enfield community. Two members of the community provide full-time care. The Sisters supporting the work of the
Charity take Holy Communion to the elderly, the sick and housebound on a regular basis", several act as
Extraordinary Ministers of Holy Communion al Convent parish Masses.
lill Visiting the sick and accompanying the homely
Sisters supporting the work of the Charity visit the sick, ex-sludenls and parishioners in their own homes and in
Nursing and Residential Homes.
liiil Encouragement and support of pastoral work
One Sister provides ongoing outreach assistance through groups, a Soaal and Bereavement Group and a
Prayer Group, linked wth the local parish facilities.
Relief of Poverty
lil Re-evaluation of the use of the Charity properties lo provide housing for those experiencing the consequences of
povety
Ongoing planning fDr the use of the property continues. The focus is on the renovation of existing buildings to
ascertain how much space is required by the current resident community and how much space could be divested
for future rental rooms for low wage earners.
Iiil Grants of money
Financial assistance and food was provided lo individuals for basic needs.
liiil Provision of items such as furniture, bedding. clothing, food and appliances
There was a limited distribution of goods lo individuals and charity shops.
livl Provision of facilities, services and support
The Charity's chapel is open lo the public and migrant groups for church services and prayer al specified times.
Adjacent facilities and the outside garden are used for meetings, playgroups, choir rehearsals, classes and related
Charity aclivilie5. The members of the Religious Order resident in the Charity facilities provide a listening ear for the
lonely and Confused and thosè struggling with life's challenges.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE
The Charity continues lo provide a wide variety of charitable services lo the local Cornmunily, ils inslilulions, groups
such as migrants and individuals faced with diffi¢ull ¢ircumslan¢es. It is not easy to assess the Charity's
performance as the benefits are often intangible.
In presenting this report on achievements and performan￿, the following examples are provided featuring the main
achievements and performance areas, which can be partially characterised by rates of participation, annual
retention rates and the public demand for services. The continuing requests from individuals and organisations for
the Charity's services gives witness lo the recognition of the usefulness of the support provided.
Outcomes In the promotlon of rellglon
Facilities have been provided for engagement in worship and praise servi￿$ for a range of groLJPS. Annually
be￿￿een 1,80￿2,000 persons attend the Sunday Maronite rnasses., between 1,500-2,000 persons from the local
community participate in the weekday masses., and approxirnately 750 persons attend the adoration services. The
rale of partiapalion in these devotional services increased steadily over the year.
Religious focused eullur818nd recreational activities have been organised on 8 weekly basis for children, focussing
on Polish migrant groups. Building interaction among children has brought together families who have developed
supportive and cultural links supportive of promoting family and community bonds. Up lo 25 children meet twice
month lo participate in these aclivilies.
Up lo 20 ¢hildren and adults are tutored weekly by Charity personnel. professionally equipped to prepare ¢hoirs for
engagement in liturgical setvices and other religious oriented events. This preparation not only exposes participants
to engage in a variety of religious and cultural settings but improves the quality of musical input in religious services.
Parish clergy are assisted by the provision of Charity personnel who maintain and set up religious items and
liturgical clothing used on a daily basis in religious services.
Outcomes in the promotion of education
The Charity promotes education through the provision of ftjnds for educational courses and books, Currently for
English language learning. Such assistan￿ was provided to migrants engaged in the work of the Charity, assisting
them and the Charity to provide improved wort( output. This assists not only the Charity but also its dientele.
The Religious Order sponsoring the work of the Charity supports ils objectives through the provision of three
religious Sisters who engage in teaching activities al three schools.. Sl Thomas More School, St Vincent's Catholic
Primary and Our Lady Catholic High School. Their combined enrolment lolals approximately 2,300 students. These
organisalions benefit from the teaching expertise of the Sisters in the areas of music, education for the
disadvantaged and assistance in literacy improvement. Equally important are the benefits accrued to individual
pupils academically and through pastoral support.
Outcomes In the promotlon of rg11gf of those In ne&d
The main work of the Charity related to relief of those in need embraces the provision of full-time care of elderly
Sisters, and those with particular needs. The benefits of this activity is self-explanatory for the persons concerned
and known as standard practice in the care sector. In addition, the Charity provides Eucharistic ministers to those
living at home, in hostels, in eare homes and in the local parish. This Service affects over 5,000 persons a year.
These provisions often provide spiritual accompaniments and consolation.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE continued
Outcomes In the rellof of poverty
The Charity, through its provision of money, goods, facilities, services and providing a listening ear, does what it can
to respond to critical incidents according to its available reSoUr￿s. While rarely is this form of charity adequate ID
respond to the level of present needs, il is a step in the chain of assistance required in many situations. Often il
provides a link for those in need in identifying other options for assistance in the longer term. Helping others is a
demonslralion of our faith and eommilmenl lo be a supportive presence in the lives of others, spiritually,
educationally, soaally and financially.
FINANCIAL REVIEW
The main Charity resources in England continue lo be provided by the salaries and retirement pensions of the
Sisters,. they are covenanted lo the Charity. There have not been any new appointments to England in 2023.
The statement of financial activities shows that incoming resources in 2023 decreased by £59.250 10 £222,863 from
£281,913 in 2022.
The total funds for the year decreased by £99,905 to £7,398,593 from £7,498,498 in 2022.
Reserves Policy
11 is the policy of the Charity that unreslricled funds which have not been designated for a specific use should be
maintained at 8 level equivalent lo a minimum of two years lotsl expenditure. Based on an annual average of
approximately £365,000 per annum over the last five years, this equates lo £730,000. The Trustees consider
maintaining the reserves al this level lo ensure that. in the event of a significant drop in funding, they will be able lo
continue the Charity's current activities while consideration is given lo ways in which additional funds may be raised.
This level of reserves has been maintained throughout the year. At the end of 2023 the Charity held free reserves of
£620,70612022- £576,995) in equity investments and £153,54712022- £301,720) in the bank and cash reserves.
The Charty did not hold any restricted funds at the year end dale12022 £nill.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
Natur8 of Governlng Document
The Charity was established by a charitable Trust Deed on 3rd April 1964. On 24 June 2015, the governing
document was amended so as to redefine 'lhe Society, and 'lhe Superiorf as follows..
.1 IA) °the Society" means the voluntary association of women known as the Good Shepherd Provin￿ of the Sisters
of the Holy Family of Nazareth and any subsequent province fomièd canonically by the aggregation, merger or
union of the Good Shepherd Province, or any successor province, with another province or other provinces."
.1 IBI "the Superior. means the person for the time being holding the office of Provincial Superior of the Society and
during any va¢an¢y in such office or when the person holding such Offi￿ is unable lo carry out any of the fun¢lions
thereof includes the person or persons who under the canonical constitLJtions of the Society is or are for the time
being entitled to carry out such functions and, in default of such person, the Superior General of the Congregation of
the Holy Family of Nazareth."
The Trustees applied lo the Charity Commission to become a body corporate under the power given in section 251
of the Charities Act 2011. On 29 September 2015, the Charity Commission granted a ￿rtificate of incorporation of
the Trustees.
Oryanlsatlonal structure
The Congregation of the Sisters of the Holy Family of Nazareth is an international religious order divided into a
number of separate provinces and regions. Since March 2003, the Sisters in England function as part of the Good
Shepherd Province. The Province is comprised of the congregation in France and Italy, as well as England, and is
administered by a Provincial Superior and her council. To reflect the new international structure, in 2015 the Charity
registered a name change al the Charities Commission. Since 24 June 2015, the Charity is now officially named",
The Sisters of the Holy Family of Nazareth (Good Shepherd Province).
In the Congregation's organisalional chart. the international govemance body of the Congregation of the Sisters of
the Holy Family of Nazareth is known as the General Administration whose offices are located in Rome, Italy. This
administration holds office until July 2028. Under the General Administration are the Congregation's proVin￿s, each
administered by a Provincial Superior and her Council. Jesus the Good Shepherd province, which embraces
England, France and Italy has its offices in Rome, Italy. The Charity is located in Enfield, Middlesex, in the United
Kingdom.
Administration and Management of the Charity
The Chair of the Trustees 85 well as the Trustees, are appointed from members of the Sisters of the Holy Family of
Nazareth IGood Shepherd Province). The adminislialive work of the Charity relies on the appointment of threè
members of the Congregation to administer the business and management of the Charity.
One Sister serves as the Chair of Trustees, a second as Coordinator of the Local Community and the third as
Accounts Manager or bursar.
Sr. M J Mikol
Sr. A Flak
Sr. B Wiecek
Sr. M Stempko
Sr. M Czerniak
Sr. S Tupaj
Sr. R Lofek
(Resigned 27 April 20231
(Resigned 27 April 20231
(Appointed 27 April 20231
(Appointed 27 April 20231

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THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Recruitment and appointment of Trustees
Trustees are appointed by the Provincial Superior of Jesus the Good Shepherd Province.
The Charty Trustees are all members of the Congregation of the Holy Family of Nazareth. As a result of
amendments to the governing document enacted on 24 June 2015 which was amended so as to redefine Ihe
Society, and 'the Superior,, the power of appointing new Trustees now rests wth the Provincial Superior of the
Jesus the Good Shepherd province rather than with the Superior General of the worfdwide Congregation based in
thè Generalate House in Rome, Italy.
Since the changes enacted in 2015, the five Trustees are appointed by the Superior Provincial and her council for a
temi of five years. The Trustees are ultimately responsible for the achievement of the objects of the Charity, the
development of policies and administration of the Charity's assets.
The Trustees, report was approved by the Board of Trustees.
SW•d by..
Slgnedty.
tum
F1EO8E1tr#14f4I¥'"
Sr. M J Mikol
Trustee
Sr. B We¢ek
Trustee
Date..
19 September 2024 1 4:04 PM BST

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Vvales requires the Trustees to prepare finanaal statements for each
financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and
application of resources of the Charity for that year.
In preparing these financial stalemenls, the Trustees are required lo".
select suitable accounting policies and then apply them consistently",
observe the methods and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject lo any material departures disclosed
and explained in the financial slalements", and
prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the charity
will continue in operation.
The TrLJStees are responsible for keeping sufficient accounting records that disclose with reasonable accLJracy al
any time the financial position of the Charity and enable them to ensure that the financial statements comply with
the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the 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 8nd other irregularities.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE SISTERS OF THE HOLY FAMILY OF NAZARETH {GOOD
SHEPHERD PROVINCE
I report lo the Trustees on my examination of the financial statements of The Sisters of the Holy Family of Nazareth
(Good Shepherd Province) Ithe Charity) for the year ended 31 December 2023.
Responslbllltles and basls of report
As the Trustees of the Charity you are responsible for the preparats'on of the financial statements in accordan￿ with
the requirements of the Charities Act 2011 Ilhe 2011 Acll.
I report in iespect of my examination of the Charity's finanGial 51alemenls carried out undeT section 145 of the 2011
Act. In carying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 14515llbl of the 2011 Act.
Independent examinerfs staternent
Your attention is drawn lo the fact that the charity has prepared financial statements in acGoidanGe with Accounting
and Reporting by Charities preparing their acwunts in acGordance wlh the Financial RepoTbng Standard applicable
in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities. Statement
of Recommended Practs'ce issued on l April 2005 which is referred lo in the extant regulations but has now been
withdrawn.
l understand that this has been done In order for financial statements to Provide a true and fair view in accordan
wlh Generally Accepted Accounting Practice effective for reporb'ng periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matteTS have come to my attention in connection with the
examination giving rne cause lo believe that in any material respect..
accounting records were not kept in respect of the Charity as required by seth'on 130 of the 2011 Act., or
the financial statements do not accord wth those records., or
the finanaal statements do not comply wth the applicable requirements concerning the form and content of
accounts set out In the Charitses (Accounts and Reports) Regulations 2008 other than any Tequiremenl that the
accounts give a true and fair view which 15 1101 a matter considered a5 part of an Independent examination.
I have no concerns and have come across no other matters in connection wth the examination to which attention
should be drawn in thi5 report in order lo enable a proper understanding of the financial slalemen15 to be reached.
Mr. Marc Bennett FCA- Independent Examlner
AEL Markhams Ltd
2nd Floor
201 Haver5tock Hill
Belsize Park
London
NW3 4QG
United Kingdom
24 september 2024 1 10:30 PN pur
Dated..
10-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
RestrlGted
funds
2022
Total
2022
Notgs
Income from:
Donations and voluntary income
Investments
198,735
23,928
223,974
27,939
30,000
253,974
27,939
Total income
222,663
251,913
30,000
281,913
Expenditure on:
Charitable activities
360,079
328,107
30,000
358,107
Total expenditure
360,079
328,107
30,000
358,107
Net gainslllossesl on investments
11
37,511
165,6251
165,6251
Net expendlture
199,905}
1141,8191
1141,8191
Other recognlsed galns and losses..
Revaluation of tangible fixed assets
20,000
20,000
Ngt mov&ment In fund$
199,905}
1121,8191
1121,8191
Reconciliation of funds-
Fund balances at 1 January 2023
7,498,498
7,820,317
7,620,317
Fund balances at 31 December 2023
7.398,593
7,498,498
7,498,498
The slalemenl of financial activities includes all gains and losses recognised in the year. Al income and expenditure
derive from continuing activities.

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Nole$
Fixed assets
Tangible assets
Investments
13
14
6,631,193
100
6,634,003
100
6,631,293
6,634,103
Current assets
Debtors
Investments
Cash at bank and in hand
15
16
13,824
620,706
153,547
13,965
576.995
301,720
788,077
892,680
Creditots- amounts falling due within
one year
17
120,7771
128,2851
Net current assets
767,300
864,395
Total assets less current liabilities
7,398,593
7,498,498
The funds of the Charity
Unrestricted funds
Revaluation reserve
778,593
6,620,000
878,498
6,620,000
7,398,593
7,498,498
29 Aug 2024
The finanaal statements were approved by the Trustees on ........................
SlwAd by
SI¢LY UxdA IIILLLI)
"DnD5¥4èE46U
Sr. B Wiecek
Trustee
Sr. M J Mikol
Trustee
12-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charity inforniation
The Sisters of the Holy Family of Nazareth (Good Shepherd Province) is a religious trust govemed by a Trust
Deed dated 3rd April 1964 and is registered with the Charty Commission, Charity Registration No. 234201. 11
is based at 52 London Road, Enfield, Middlesex EN2 6EN.
1.1 Accountlng conventlon
The accounts have been prepared in accordance with the Charty's trust deed, the Charities Act 2011 and
°Accounling and Reporting by Charities". Statement of Recommended Practice applicable to ¢harilies
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20161. The
Charity is a Public Benefit Enlily as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling. which is the ftjnctional currency of the Charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historic21 cost convention. modified to include the revaluation of
freehold properties and to include investment properties and ￿rtain financial instruments at fair value.
1.2 Golng concgrn
At the lime of approving the financial statements, the Trustees have a reasonable expectation that the Charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees
conbnue to adopt the going concern basis of accounting In preparing the financial ststemenls.
1.3 Charltable funds
Unrestricted funds are available for use at the discreb'on of the Trustees in fiJrtheran￿ of their charitable
objectives.
1.4 Income
Income is recognised when the Charity is legally entf(led to il after any performance conditions have been
mel, the amounts can be measured reliably, and it is probable that income will be re￿ived.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has bèen notified
of the donation, unless perfomance conditions require deferral of the amount.
1.$ Expendlturo
Expenses are included in the financial statements as they fall due. Expenses include VAT where applicable as
the Charity cannot reclaim it.
13-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles
Icontlnuedl
1.6 Tanglble flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any Impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated lo write
off the cost less eslimaled residual value of each asset over ils expected useful life, as follows..
Land and buildings
Fixtures, fittings & equipment
Motor vehides
1 OOk_ 200/0 Reducing balance
25Q/o Reducing balance
The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
Freehold land and buildings are not depreciated on materiality grounds.
1.7 Fixed asset invastments
Fixed asset Investments are initially measured al transaction price excluding transaction costs, and are
subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
Current asset investments are measured al fair value al each reporting date. Changes in fair value are
re¢ognised in net incomellexpenditurel for the year.
1.8 Impairment of fixed assets
Al each reporting end date. the Charity reviews the carying amounts of ils tsngible assets lo detemiine
whether there is any indication that those assets have suffered an impaimienl loss. If any such indication
exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impaimienl
loss lif any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.10 Flnanclal Instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of Ils finanaal Inslrumenls.
Financial Instruments are recognised in the Charity's balance sheet when the Charity becomes party to thè
conlraclual provisions of the inslrumenl.
Financial assets and liabilities are offset, wich the net amounts presented in the financial slatemenls, when
there is a legally enfor￿able right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and setue the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured al
transaction price Including transaction costs and are subsequently carried al amorb.sed cost using the effective
interest method unless the arrangement conslilules a financing transaction, where the transaction is
measU￿d at the present value of the future receipts discounted al a market rale of interest. Financial assets
classified as receivable within one year are not amortised.
14-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles
Icontlnuedl
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement conslilules a financing transaction, where the debt Instrument is measured al the present
value of the future payments discounted al a matkel late of Interest. Financial Iiabililies classified as payable
wthin one year are not amortised.
Debt instruments are subsequenuy Carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current Iiabililies. Trade creditors are recognised Initially al
transaction price and subsequently measured al amortised c05t using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employee benefits
The cost of any unused holiday enliuement is recognised in the period in which the employee's services are
received.
1.12 Ratirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Critical accounting estimates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The eslimales and associated assumptions are based on historical experience and other
factors that are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
In¢omg from donatlons and voluntsry Income
UnrestrlGted Restrlct&d
funds
funds
2023
2023
Total Unrestrlcted Restrlcte(I
funds
funds
2022
2022
Totsl
2023
2022
Donations and gnls
Other
7,710
191,025
7,710
191,025
5.937
218,037
30,000
35,937
218,037
198,735
198.735
223.974
30,000
253.974
15-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donatlons and voluntsry Income
Icontlnuedl
The ' Other ' donations above consists of the salaries and pensions of the Sisters which are gifted under deed
of covenant. It also includes contribLJtions from The Holy Family of Nazareth Educational Trust charity in
respect of pensions and carers allowance for Sisters who had worked or supported the Pitsford School.
Income from Investments
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Rentsl income
Interest receivable
17,291
6,637
27,231
708
23,928
27,939
Expenditurg on charitabl8 activitias
Charltable
Charltabl
Expenditure Expenditure
2023
2022
Direct costs
Charitable expenditure
9,921
9,637
Share of support and governance costs (see note 71
Support
Governance
341,158
9,000
335,270
13,200
360,079
358,107
Analysls by fund
Unreslrided funds
Restricted funds
360,079
328,107
30,000
360,079
358,107
Description of charitable activities
Charitable Ex
endilure
The charitable expenditure of £9,921 12022 - £9,637) above consists of contributions to the Generalale in
Rome of £8.000 and other small donations to local causes.
16-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs allocated to activities
2023
2022
staff costs
Depreciation
Support of the members of the congregaty'on
Governance costs
25,657
2,811
312.690
9,000
25,446
2,120
307,704
13,200
350,158
348,470
Analysed betsveen:
Charitable Expenditure
350,158
348,470
Wth the exception of the direct charitable donations and governance costs. all the costs of the Charity have
been classified as support costs. These costs include the maintenance of the buildings, ulililies, food, clothing,
and the general health and weKare of the Sisters. The governance costs relate lo professional fees for the
independent examination laudit in 20221 and ac¢ounlancy services.
Net movement in funds
2023
2022
The nel movement in funds is slated after chargingllcredilingl..
Fees payable lo the charity's independent examiner.
for the independent examination of the charity's financial slalements
audit fees
accountancy fees
Depreryalion of owned tangible fixed assets
3,000
6,000
7,200
2,120
6,000
2.811
Trustees
The Trustees living and personal expenses are borne by the Charty as they are members of the
congregation. None of the Trustees lor any persons connected with them) received any remuneration or
reimbursement of expenses during the year in connection with their duties.
10 Employees
The average monthly number of employees during the year was..
2023
Number
2022
Number
Kitchen staff
17-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Employee$
Icontlnuedl
Employment costs
2023
2022
Wages and salaries
Olhei pènsion costs
25,273
384
25,068
378
25,657
25,446
There were no employees whose annual remuneration was more than £60,000.
11
Galns and loss&s on Investments
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Gainslllossesl arising on..
Revaluation of investments
37,511
165,6251
12 Taxation
The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes.
13 Tanglble flxed assets
Land and
buildings
Fixtures.
fittlngs &
equlpment
Motor
vehicles
Totsl
Cost or valuation
Al 1 January 2023
6,620,000
87,442
23,900 6,731,342
Al 31 December 2023
6,620,000
87,442
23,900 6,731,342
Depreciation and impaimient
At 1 January 2023
Depreciation charged in the year
73,638
2,761
23,700
50
97,338
2,811
Al 31 December 2023
76,399
23,750
100,149
Carrying amount
Al 31 December 2023
6,620,000
11,043
150 6,631,193
Al 31 December 2022
6,620,000
13,804
199 6,634,003
18-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Tanglble flxed assets
Icontlnuedl
The carrying value of land included in land and buildings comprises..
2023
2022
Freehold
6,620.000
6,620.000
The land and buildings were acquired many years ago and as such the historical Cost is immaterial. The
Trustees eslimaled the value of the land and buildings at 31 December 2023 to be £6,620,000.
At 31 December 2023, had the revalued assets been carried at historic cost less accumulated depreciation
and accumulated impairment losses, their carrying amount would have been approximately £-12022- £-1.
As there is no historical cost the revaluation surplus is effectively the value of the land and buildings of
£6,620,00012022- £6,620,000)
14 Fixed asset investments
Unlisted
investments
Cost or valuation
Al 1 January 2023 & 31 December 2023
100
Carrying amount
Al 31 December 2023
100
Al 31 December 2022
100
On 30 October 2015 a subsidiary ¢ompany called House of Joseph Ltd (company registration number
98492621 was formed. The Charity owns 1000A of the issued share capital. The company continLJes to remain
domianl. The net asset value of the company is £100.
15 Debtors
2023
2022
Amounts falllng due wlthln on& year:
Other debtors
Prepayments and accrued income
2,127
11,838
13,824
13,824
13,965
19-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
16 Current asset investments
2023
2022
Unlisted investments
620,706
576,995
In 2013 the Trustees invested £430,000 with Epworth Investment Management in a combination of equity
funds, corporate bonds and deposit funds. During the 2021 yèar thè remaining funds held in income unil funds
were swtched lo accumulation unil funds. All the income generated is now accumulated in the value of the
fund so there is no longer a separately identifiable income return. At the year end dale the market value of the
fund was £820,70612022 - £576,995). Induded in the fund is £161,298 of cash deposils12022- £52,896).
The investment portfolio is treated as a current asset as the ftjnds are readily ¢onvertible into liquid funds and
may need to be utilised at short notice if required.
17 Credltors: amounts falllng due wllhln one year
2023
2022
Other taxation and social security
Other Creditors
Accruals and deferred income
11801
3,640
17,317
179
9,740
18,366
20,777
28,285
18 Retirement benefit schemes
2023
2022
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
384
378
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the Charity in an independently administered fund.
19 Unrestricted funds
The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These indude
designated funds which have been set aside out of unreslricled ftjnds by the trustees for specific purposes.
At 1 January
2023
Incoming
resources
Resources
expended
Gains and
losses
At31
December
2023
Revaluation reserve
General funds
6,620,000
878.498
6,620,000
778.593
222,663
1360,0791
37.511
7.498.498
222,663
1360,0791
37,511
7,398,593
-20-

Docusign Envelope ID.. 9AAE793F-EE1C47AF-AB4C-60F559107429
THE SISTERS OF THE HOLY FAMILY OF NAZARETH (GOOD SHEPHERD
PROVINCE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Unrestrlcted funds
Icontlnuedl
Prevlous year:
At 1 January
2022
Incomlng
resources
Resour¢e$
expended
Galns and
losses
At31
December
2022
General funds
7.620.317
251,913
1328,1071
145,6251
7,498,498
20 Related party transactions
Transactions with related parties
During the year the Charity contributed £8,000 to the Provincial Generalate in Rome.
21