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2023-03-31-accounts

Page
Reference and Administrative
Details		 ofthe Charity, its Trustees and Advisors
Trustees'
Report		 2-12
Independent Auditor's Report 13-16
Consolidated Statement of Financial Activities 17
Consolidated Summary Income and Expenditure Account 18
Consolidated Balance Sheet 19
Charity Balance Sheet 20
Consolidated Statement ofCash Flows 21
Notes to the Financial Statements 22-45

Trustees and members Trustees and members The Venerable A C MacRow-Wood A C MacRow-Wood A C MacRow-Wood A C MacRow-Wood - Chair
Reverend RAyer-Harris
Mrs A LAze
Mr AJ Brown
Mr T Farrer
Mrs S L Hallis (resigned 24/11/22)
Mr N Harrison
Mr N Ress - Vice Chair
Mr
I K Robinson
Canon J Triffitt
Secretary Mr G Pugh
Diocesan Director ofEducation Canon JTubbs (resigned 1/9/23)
K Fitzsimmon s (appointed 1/9/23)
Charity number 1059195
Company number 00464306
Registered office The Diocesan Education Centre
The Avenue
Wilton
Salisbury
Wiltshire
Auditor Moore (South) LLP
33The Clarendon
Centre
Salisbury Business Park
Dairy Meadow Lane
Salisbury
Wiltshire
Bankers Lloyds Bank PLC
38 Blue Boar row
Salisbury
Wiltshire
SP1 1DB
Solicitors Parker Bullen LLP
45 Castle Street
Salisbury
Wiltshire
SP13SS
Investment Manager CCLA investment Management Ltd
80 Cheapside
London

Unrestricted Restricted Total Unrestdicted Restricted Total
funds funds funds funds
2023 2D23 2023 2022 2022 2022
Note 6 6 6 6 6
Income from:
Donations
and		 legacies 310,292 593,057 903,349 329,364 261,079 590,443
Charitable
activities		 2,250 1,333,237 1,335,487 2,010,421 2,010,421
Other trading activities 262,614 262,614 272,705 3,268 275,973
Investments 10,125 236,436 246,561 223,741 223,741
Other income 6,967 6,967 5,215 5,215
Total income 592,248 2,162,730 2,754,978 607,284 2,498,509 3,105,793
d
Raising funds 8 234,797 234,797 226,701 226,701
Charitable
activities		 9 767,529 1,735,661 2,503,190 691,719 2,515,834 3,207,553
Total resources expended 1,002,326 1,735,661 2,737,987 918,420 2,515,834 3,434,254
Net gains/(losses) on
investments 15 (382,514) (382,514) 629,200 629,200
Net incoming/(outgoing)
resources before transfers (410,078) 44,555 (365,523) (311,136) 611,875 300,739
Gross transfers
between
funds		 1,669,336 (1,669,336) 300,000 (300,000)
Net movement in funds 1,259,258 (1,624,781) (365,523) (11,136) 311,875 300,739
Fund balances at 1
April 2022 173,400 9,019,707 9,193,107 184,536 8,707,832 8,892,368
Fund balances at 31
March 2023 1,432,658 7,394,926 8,827,584 173,400 9,019,707 9,193,107

2023 2022
6 6
Income 2,508,417 2,882,052
Gains on investments 629,200
Interest and investment income 246,651 223,741
Gross income 2,754,978 3,734,993
Expenditure 2,709,246 3,404,152
Losses on investments 382,514
Depreciation offixed assets 28,741 28,741
Total expenditure 3,120,501 3,432,893
Net income before tax for the financial year (365,523) 302,100
Tax on net income from ordinary activities (1,361)
(365,523) 300,739

2023 2022
Notes 6 8
Fixed assets
Tangible assets 14 1,340,595 1,369,336
Investments 15 7,662,016 7,688,104
9,002,611 9,057,440
Current assets
Debtors 16 341,414 290,748
Cash at bank and in hand 112,694 565,953
454,108 856,701
Creditors: amounts falling due within
one year 17 (720,597) (784,679)
Net current assets (266,489) 72,022
Total assets less current liabilities 8,736,122 9„129,462
Income funds
Restricted funds 19 7,394,926 9,019,707
Unrestricted funds 1,341,196 109,755
8,736,122 9,129,462

2023 2022
Notes 6
Cash flows from operating
activities
Cash absorbed
by operations		 21 (305,168) (440,992)
Investing
activities
Purchase offixed assets
Purchase of investments
Proceeds on disposal ofother investments		 (356,426) (36,266)
(177,433)
Dividends,
interest and rents from investments		 246,561 223,741
Net cash generated
from investing
activities (109,865) 10042
Net (decrease)/increase
in cash and		 cash
equivalents (415,033) (430,950)
Cash and cash equivalents
at beginning		 of year 684,691 1,115,641
Cash and cash equivalents
at end of		 year 269,658 684,691

Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
6 6 6 f
SCA 1,088,686 1,088,686 1,451,581
Governors
contnbutions		 221,993 221,993 135,186
SALEX capital grants 210,500
Trust Funded capital grants 22,558 22,558 157,640
ITcapital grant 55,514
Funding
from ESFA		 2,250 2,250
2,250 1,333,237 1,335,487 2,010,421
Forthe year ended 31 March 2022 2,010,421 2,010,421
5 Activities for generating funds
Unrestricted Restricted Total Total
funds funds
2023
6		 2023f 2023f 2022
6
DFC generated
income		 3,268
Educational
Support		 Services 262,614 262,614 272,705
262,614 262,614 275,973
Forthe year ended 31March 2022 272,705 3,268 275,973
6 Investment
income
Unrestdicted Restricted Total Total
funds funds
2023 2023 2023 2022
6 6 6 F
Property
investment		 income 530 530 892
Listed investment
income		 235,007 235,007 222,661
Interest receivable 10,125 899 11,024 188
10,125 236,436 246,561 223,741
For the year ended 31 March 2022 223,741 223,741

7 Other income
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023f 2023f 2023
f		 2022
f		 2022
f		 2022
f
Other income 6,967 6,967 5,215 5,215
8 Cost ofraising funds
Staff Other
costs Depreciation costs Total Total
2023f 2023f 2023
f		 2023f 2022
f
Maintenance
of 1st properties
Trading expenses 103,103 11,188 120,506 234,797 226,701
103,103 11,188 120,506 234,797 226,701
Forthe year ended 31 March 2022 122,152 13,048 91,501 226,701
9 Charitable
activities
Staff Other
costs Depreciation costs Total Total
2023
f		 2023
f		 2023 2023f 2022
Support for the church schools
in the diocese 807,903 28,741 274,041 1,110,685 891,590
Capital grant projects on diocese
properties 1,372,305 1,372,305 2,299,883
Other fundraising costs 20,200 20,200 16,080
807,903 28,741 1,666,546 2,503,190 3,207,553
Forthe year ended 31 March 2022 715,700 28,741 2,463,112 3,207,553

Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
f 8 f
Staff costs 541,556 266,347 807,903 715,700
Depreciation and impairment 28,741 28,741 28,741
SCA capital projects grants 1,127,754 1,127,754 1,741,043
Governors
capital projects		 221,993 221,993 135,186
Other capital grant funded projects 22,558 22,558 423,654
Insurance
premium		 for church schools 9,923 9,923 5,106
Travel costs 12,961 12,961 5,758
Legalfees 35,920 11,000 46,920 37,305
Professional subscriptions 6,323 6,323 2,798
Resources 77 77 114
Courses and training 3,273 3,273 11,288
Miscellaneous expenditure 5,164 5,164 2,337
ITCosts 6,389 6,389 2,460
Consultancy costs 60,169 60,169 53,678
Devizes old school expenditure
Other expenses 47,051 76,086 123,137 26,305
Support costs 19,905 19,905 16,080
767,529 1,735,661 2,503,190 3,207,553
Forthe year ended 31 March 2022 691,719 2,515,834 3,207,553

Charitable
activities (continued)		 Charitable
activities (continued)
SCA Grant SCA Grant
Analysis of grants made Expenditure
during
22/23		 Expenditure
during
21/22
6 6
Child Okeford 29,719 49,503
Durweston 38,375 55,644
Hampreston 39,999 87,746
Langton
Matravers		 6,742
Lyme Regis St Michaels 89,197
Marnhull,
StGregory's
Milton-on-Stour		 (34,600)
45,061		 260,645
61,733
Mosterton,
Parrett &Axe		 42,307 49,500
New Forest
Portesham		 (8,257)
2,866		 11,930
67,645
Powerstock 1,247 984
Kennet Valley (2,766)
Salway Ash
Sandford St Martine		 37,202
87,440		 9,657
Shaftesbury,
The Abbey		 2,437 72,900
Semley 39,224 106
Evershot Sticklands (4,140) 21,356
Stoborough 27,365 33,121
Symondsbury
Thomers'
Litton Cherney
Verwood
Trinty First
Weymouth,
StNicholas
Wimborne StGiles		 &St Laurence (6,092)
(3,618)
69,760		 38,700
(1,618)
(2,147)
2,771
51,338
Winterbourne
Valley		 7,184 131,036
Western
Downland		 107,501 54,216
Wylye Valley
Aldbourne
St Michael's
Alderbury
&West Grimstead		 37,430
16,330
48,274		 1,223
(13,210)
9,961
Broad Chalke
Chapmanslade		 (4,362)
78,186		 2,478
Cherill 50,659
Chilmark
& Fonthill Bishop		 81,782 29,299
Chilton Foliat
Coombe Bissett		 43,412 52,321
102,994
Cranborne
Crockerton		 6,842 (8,386)
36,578
Derry
Hill		 23,993 20,394
Downton 13,147 114,389
Hindon
Laverstock StAndrews
Porton St Nicholas
Serum St Martine
Serum StPaula
Sticklands
Whiteparish		 (1,350)
8,991
24,855
43,565
29,598
66,841		 (124)
16,121
71,949
(2,847)
83,123
(443)
23,107
Winterslow
Tilshead
Other		 (11,048)
(2,925)
(33,877)		 86,216
27,237
25,155
1,127,754 1,741,043

10 Support costs - governance costs - governance
Unrestricted Restricted Total Total
funds funds
2023
f		 2023f 2023f 2022
f
Auditors' remuneration 16,600 16,600 13,650
Auditors' non audit costs 3,135 3,135 3,850
Trustees expenses
reimbursed		 170 170
19,905 19,905 17,500
For the year ended 31 March 2022 17,500 17,500
11 Net movement
in funds		 2023 2022
Net movement
in funds is stated after charging/(crediting)
Amortisation
- intangible		 fixed assets
Depreciation
oftangible		 fixed assets - owned by the chantable
group		 39,929 41,789
Auditor's remuneration - audit 16,600 13,650
Auditor's remuneration -other services 3,135 3,850

12 Employees
Staff costs were as follows: 2023 2022
6 6
Wages and salaries 717,679 649,945
Social security costs 65,060 63,330
Other pension costs 128,267 124,576
911,006 837,851
The average number ofpersons
employed		 by the Charity during the year was as follows
2023 2022
Number Number
stan 19 18
Average headcount expressed as a full time equivalent:
2023 2022
Number Number
stan 15 15
The number of employees whose annual remuneration was 660,000or more were:
2023 2022
Number Number
In the band 660,001-670,000
In the band 570,001-680,000
In the band 680,001-690,000
In the band 690,001-6100,000

Director of Education - Canon J Tubbs
Deputy Director of Education - Mr G Pugh
Assistant Director of Education - Mrs A Christopher
Group Softwaref
Cost or valuation
At 1 April 2022 and 31 March 2023 24,190
Amortisation
At 1 April 2022 24,190
At 31 March 2023 24,150
Carrying
amount
At 31 March 2023
At 31 March 2022

Leasehold
Group land and Fixtures Office
buildings and fittings equipment Total
Cost
At 1 April 2022 1,698,592 125,997 48,738 1,873,327
At 31 March 2023 1,698,592 125,997 48,738 1,873,327
Depreciation and impairment
At 1 April 2022 329,256 97,708 45,641 472,605
Depreciation charged in the year 28,741 10,156 1,032 39,929
At 31 March 2023 357,997 107,864 46,673 512,534
Carrying
amount
At 31 March 2023 1,340,595 18,133 2,065 1,360,793
At 31 March 2022 1,369,336 28,289 3,097 1,400,722
Leasehold
Charity land and Fixtures Office
buildings and fittings equipment Total
Cost
At 1 April 2022 1,698,592 21,437 30,004 1,750,033
At 31 March 2023 1,698,592 21,437 30,004 1,750,033
Depreciation and impairment
At 1 April 2022 329,256 21,437 30,004 380,697
Depremation charged in the year 28,741 28,741
At 31 March 2023 357,997 21,437 30,004 409,438
Carrying
amount
At 31 March 2023 1,340,595 1,340,595
At 31 March 2022 1,369,336 1,369,336

Listed
investments
Cost or valuation (Group and Charity)
At 1 April 2022 7,688,103
Additions 376,426
Valuation
changes		 (382,514)
At 31 March 2023 7,662,015
Carrying
amount
At 31 March 2023 7,662,015
At 31 March 2022 7,688,103
2023 2022
Group
& Charity		 material investments 6
CBFChurch of England Investment Fund 6,947,260 6,839,968
CBFChurch of England Property Fund 714,755 848,135
7,662,015 7,688,103
Listed Investment
Charity only investments in Total
subsidiary
Cost
At 1 April 2022 7,688,103 7,688,104
Additions 376,426 376,426
Valuation
changes		 (382,514) (382,514)
At 31 March 2023 7,662,015 1 7,662,016
Historical cost
At 31 March 2023 5,597,399 5,597,399
At 31 March 2022 5,220,973 5,220,973
Holdings of more than 20%
The charity holds more than 20%of the share capital ofthe following companies:
Name of undertaking Nature of business Country of
incorporation		 Class of
share held		 %held
SALED Limited (Company
Number 05369157) Provision ofservices to SDBE England Ordinary 100

Group Charity
2023 2022 2023 2022
Amounts
falling due		 within one year: 6 6 6 8
Governors
contributions		 95,178 69,533 95,178 69,533
Amount owed by subsidiary undertaking 1,271 625
Trade debtors 77,517 90,149 68,281 60,995
Other debtors 13,405 42,429 7,267 38,378
Accrued income 77,650 88,904 76,630 74,144
DFC not drawn
down		 92,787 47,073 92,787 47,073
356,537 338,088 341,414 290,748
Within governors
contributions		 balance, there are 621,948 (2022: 622,762)due after one year.
Creditors: amounts falling due within one year
Group Chadity
2023 2022 2023 2022
Amounts
falling due		 within one year: 6 6 E 6
Trade creditors 70,912 75,386 66,856 69,918
Amounts
owed to group undertakings
Other taxation
and social security		 23,563 43,506
Other creditors
and accruals		 184,233 98,617 170,768 83,964
Deferred income 145,574 156,254 85,836 86,062
SCA capital grants 397,137 544,735 397,137 544,735
821,419 918,498 720,597 784,679
Group Charity
2023 2022 2023 2022
6 6 8
PSA membership 33,646 43,192
St Deny's grant 85,836 85,836
DARE Grant
Others		 26,092 86,062
27,000		 86,062
145,574 156,254 85,836 86,062

Group Charity
Charitable Charitable
commitments commitments
accrued accrued
2023 2022 2023 2022
6 6 6
Opening balance 544,735 502,594 544,735 502,594
New grant commitments charged 1,259,933 1,852,026 1,259,933 1,852,026
Grants paid during the year (1,401,547) (1,626,631) (1,401,547) (1,626,631)
Underspent project during 2022/23 (5,984) (183,254) (5,984) (183,254)
Amount ofgrant commitments recognised 397,137 544,735 397,137 544,735

6
Opening balance brought forward 602,731
Income received in year 826,957
Expenditure incurred in year (574,502)
Transfer of funds to clear governor contribution balance (36,081)
819,105

Balance at
Balance at Gains/ 31 March
1 April 2021 Income Expenditure Transfers (losses) 2022
f f
Unrestricted
funds
General funds - SDBE 161,269 340,204 (691,719) 300,000 109,754
SALED Limited 23,267 267,080 (226,701) 63,646
184,536 607,284 (918,420) 300,000 173,400
Restricted funds
UST Capital account 7,411,361 629,200 8,040,561
UST Income account 886,033 227,008 (6,119) (300,000) 806,922
SCA Capital Funds 410,438 1,451,582 (1,741,042) 120,978
Governors
contributions		 135,186 (135,186)
Other Capital Funds 423,654 (423,654)
Other restricted grants 261,079 (209,833) 51,246
8,707,832 2,498,509 (2,515,834) (300,000) 629,200 9,019,707
Total offunds 8,892,368 3,105,793 (3,434,254) 629,200 9,193,107
20 Analysis ofnet assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
f 8 6 f. f f
Fund balances at 31 March 2022 are represented by.
Intangible
fixed
Tangible assets 1,360,793 1,360,793 1,400,722 1,400,722
Investments 7,662,015 7,662„015 7,688,104 7,688,104
Current assets 232,841 393,354 626,195 (939,621) 1,962,400 1,022,779
Current
liabilities		 (160,976) (660,443) (821,419) (287,701) (630,797) (918,498)
1,432,658 7,394,926 8,827,584 173,400 9,019,707 9,193,107

21 Cash generated
from operations		 Cash generated
from operations		 2023 2022
6
Deficit/surplus
for the year		 (365,523) 300,739
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (246,561) (223,741)
Fair value gains and losses on investments 382,514 (629,200)
Depreciation
and impairment
oftangible		 fixed assets 39,929 41,789
Movements
in working
capital:
Decrease/(increase)
in debtors		 (18,449) 3,886
Increase
in creditors		 (97,079) 65,535
Cash absorbed
by operations		 (305,168) (440,992)
22 Financial commitments,
guarantees		 and contingent liabilities/assets