Registered number: 3663851
Charity number: 1091145
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
CONTENTS
Page
Reference and admlnlstratlve detalls of the DBE, Its Trustees and advlsers
Trustees. report
Independent audltor's report on the financial statements
Statement of flnanclal actlvltles
9-12
13
Balance sheet
14
Notes to the flnanclal statements
15-34

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE DBE, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Mr Roderick Clark. Eleded (resigned 31 December 2024)
Mr Michael Draper, Chair, Bishop's nominee
Mrs Emma Griffiths, Elected
Mrs Sybil Hanson, Co-opted (resigned 31 December 2024)
Ms Sharon Jones, Co-opted (reappointed 1 April 2025, resigned 31 December
20241
Mrs Claire Russell. Elected (resignecl 31 December 2024)
Rev'd Diane Thompson, Elected (resigned 9 April 20241
Mr Adam Walsh, Co-opted (resigned 31 December 2024)
Mrs Lindsey Wright, Co-opted (resigned 31 December 2024)
Right Rev'd Ruth Worsley, Acting Bishop of Covenlry, Ex officio (resigned 24
December 20241
The Ven Barry John Dugmore, Bishop's nominee
Rev'd Timothy CoGkell, Bishop's nominee
Right Rev'd Sophie Jelley, Bishop of Coventry, Exwofficio (appointed 14 February
2025)
Mr Peter Merrylees, Co-opted lappolnled 1 April 2025)
Rev'd Greg Bartlem, Elected (HOI (appointed 1 January 2025)
Rev'd Andy March, Elected (HO) {appointed 1 January 2025)
Mrs Janet Pringle, Elected (appointed 1 January 2025)
Rev'd Kate Pellereau, Elected IHOI (appointed 1 January 20251
Company reglstered
number
3663851
Charlty reglstered
number
1091145
Registered office
The Benn Education Centre
Craven Road
Rugby
Warwickshire
CV213JZ
Company secretary
Rev'd April Gold
Independent auditor
Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG
Page 1

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees, who are also directors for the purposes of company law, present their combined trustees. and
director5. report for Coventry Diocesan Board of Educallon I'the DBE"), together with the audited financial
statements. for the year ended 31 December 2024.
Under the Diocesan Boards of Education Measure 1991, each diocese is required to have a diocesan board of
education with the primary purpose being to promote or assist in the promotion of education in the diocese.
being education which is consistent with the faith and practice of the Church of England.
Objectlves and actlvitles
a. Pollcles and objectives
"Inspiring schools to demonstrate the love of Christ as they educate for life in all its fullness.
The DBE exists to deliver the requirements of the Diocesan Boards of Education Measure 2021 (which
superseded the Diocesan Boards of Education Measure 1991), in particular to..
promote or assist in the promotion of education in the diocese that is consistent with the faith and practice of
the Church of England:
promote or assist in the promotion of religious educatlon and religSous worship in schools in the dlocese.,
promote or assist in the promotion of church schools in the diocese;
promote co-operation between itself and other persons concemed with education In the dI0￿se.
The DBE'S principal activity is to s8rve and equip Church of England schools and academies in Coventry diocese
to worship God, make new disciples and transform their communities. Services which relate directly to
obligations in the DBE Measure are provicled without charge, but the remaining suite of training. advice and
resources are provided under a Diocesan Service Agreement. In addition to services provided to schools. the
DBE also work in partnership with the Church of England Education Office, Regional Schools Commissioner,
Local Authorities and Multi Academy Trusts to ensure that all schools are well supported in performing their
statutory duties.
The princlpal beneficiaries of thes8 S8rvices are the approximately 18.600 children and young people attendlng
the 76 Church of England schools and academies in the diocese. Within our Church majority Mutti Academy
Trusts. we have an additional 9 community schools that have chosen to join the family and work in partnershlp
with our Church schools. Wider than this, the D8E also aims to promote and assist in the promotion of education
con51Stent with the faith and practice of the Church of England across the diocese as a whole.
Other activities include trusteeship of the s.554 Trust, previously a number of separate uniform stalutory trusts,
united into a single (registered charity) trust. The funds in this trust have arisen from the retum to the Church of
England of its deemed share of the proceeds from the sale of former school properties. The pemiitted uses of
the capital 8re explained in note 19 lo the financial statements. The D8E uses the investment income to
subsidise its services. These trusts also include the building whid) is occupied by the DBE as its principal and
registered office.
In addition. property In use by 29 of the Church of England schools in the DioGese is vested in th8 DBE as
trustee. however there is no beneficial interest whilst Ihe property is still in use for the schools.
During the year. the DBE became the custodian trustee of the Coventry Blue Coat Church of England School
Foundation (regislered number 511793). which exists to collect income from a wa￿eave arrangement and make
it available lo the Coventry Blue Coat School. The previou5 year end of 30 JL5ne was changed to be cotemiinous
with the main charities so the reporting period will be for an 18 month period in 2024. We continue to hold the
freehold for the school site and adjoining land.
Page 2

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
ObJectlves and activities (continued)
The trustees have had due regard to the Charity Commission's public benefit guidance when reviewing and
deciding what activities the charity should undertake.
The trustees, vision to support schools to achiev8 demonstrable Christian distinctiveness in every aspect of the
educational experience is based on Jesus, words from Matthew 5,13-16-
°You are the salt of the earth. But if the salt loses its saltiness, how can it be made salty again? It is no longer
good for anything. except to be thrown out and trampled underfoot,
'You are the light of the world. A town built on a hill cannot be hidden. Neither do people light a lamp and put it
under a bowl. Instead they put it on its stand, and it gives light to everyone in the house. In the same way, let
your li9ht shine before others, that they may see your good deeds and glorify your Falher in heaven."
b. Strateglc objectlves In 2024 Included
Facilitaling partnerships between schools and parishes to worship God incamationally. The school building
and community are inlegral to the Church community in the parish. It is the way children, families and staff
encounter God. School becomes Church.
Intentionally co-creating a habitus and curriculum in our schools rooted in Wisdom, Hope, Dignity and
Communily. Schools develop a 'way of being" rooted in their Christian vision. This impacts curriculum
development and teaching practices encouraging loving relationships where we learn to work with others
and disagre8 well. Schools are radically incluslve., valulng dlverslty. embracing difference, nurturing
aspiration.
Inspiring others to "come and see. using a discipleship model to form collaborative school groupings.
Schools convert to become part of strong, collaborative MATS delivering high quality, value for money
education through CofE schools and community schools. Staff, children and families develop a18nguage of
failh which they take with them beyond school.
Creating opportunities for school communities to become imagineers, calling out injustice to take action to
transform communities. Schools teach a Klngdom Curriculum asklng blg questions whlch encourage
children to imagine solutions and drive change. in the process developing courageous advocacy and
leadership skills.
Achievements and perfomiance
a. Achievements with the principal activities
Th8 DBE provides support to all Church of England schools and academies in the Diocese in accordance with its
statutory obligations and receives a core grant from the Diocesan Board of Finance towards these costs.
Additional services are provided through a Diocesan Service Agreement (DSA) In the academic year 23124 all
but one school signed up to the DSA. In 24125 this has again increased to 100Q/o signing up. We have continued
to provide regular Head Teacher briefing5 and a wide range of CPD for all levels of leadership within Schools. all
focussed upon Christian Distinctiveness. We were pleased to be able to host our first Head Teacher and Parish
Partner Conference in November. We had keynote speeches from Sir John Timpson about leadership and
Elizabeth Oluarari about inclusion. In the afternoon Anna Shaw from CPAS facilitated some joint work between
parishes 8nd schools to consider the barriers and opportunities for closer working. We also hosted an evening
celebrating govemance in Wellesbourne, with a time of worship and a hot meal provided by Bishop Ruth. We
then shared good news stories from across the schools in the Diocese which was inspiralional for all who
attended.
Page 3

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevements and perfonnance (continued)
Phase 2 of the Beacon project continued with a small MAT trialling the approach across their family of schools
and one school sharing its student and staff wellbeing model across other schools in th8 Diocese. During th8
year the exemplary work at All Saints in Coventry was selected to be a focus for further research in meeting
social and emotional needs, sponsored by Oxford Brookes University and the Mulbery Bush.
Increasing SEND needs in our schools places pressure on families and school communities. Limited funding and
a lack of access to specialist support staff such as Educational Psychologists and specialist TAS mean that the
emerging SEND crisis is having an impact on children, family and staff wellbeing. The DBE continues to speak
into the space of radical inclusion with a view to as many children as possible having their educational needs met
within their local school communities. 10 of the 16 resourced provisions within mainstream Warwickshire primary
schools are within CofE schools or community schools within our CofE majority MATS. This demonstrates the
commitment of our DBE family of schools to meet educational needs within community. Sometimes educational
placements break down and a child becomes formally or informally excluded from school. This is often because
the child is being affected adversely by additional needs which hav8 arisen and cannot be met with Current
resourcing, or requires a step chang8 in th8 provision mad8 for them in school. We are working with
Warwickshire LA on potential Altemative Provision proj8cts. Th8 first is a collaboration with a group of
schools in Rugby Deanery Sooking at the feasibility of using the Benn Education Centre as a site for an innovative
primary Alternative Provision. Similarfy we are working with the Diocese of Coventry Multi Academy Trust and
Nicholas Chamberlain Schools Foundation to create a new bulldlng on the site of St Michael's CofE Academy in
Bedworth to host an altemative provision.
Following on from the DBE'S Alive 2023 Event, throughout 2024 we have been working in partnership with i-sing-
pop to provide ColSective Worship and RE support in schools, in partnership with their parishes. During 2024 16
schools had "Main Events"
a four- day project including teaching and singing culminating in a concert in school
or Church for families. 3,201 children and their teachers and families were included in these events. 28 schools
had one day Workshops focussed on a Christian Festival or theme, these workshops included 5.950 children. 11
schools had bespoke events, building on either a Main Event or a Workshop, working in partnership with their
parish. These events including a Year 6 Jamboree in a small MAT and a holiday club in Alcester included 295
children. In total 44 schools (58°/.) engaged with the partnership, involving 9,135 children 157 % l. Each school
also benefitted from a pop-box and weekly Classroom Worship resources. The popularity and engagement led
to the DBE commisslonlng a further year of partnership.
2024 saw the launch of the new Coventry and Warwickshire SACRE syllabus for RE. Jen Jenkins from the DBE
team and a number of RE leads in Diocesan schools were instrumental in creating a cutting- edge worldviews
approach to teaching RE. The syllabus was well received, and we continue to support schools as they adapt to
deliver a very different, academically challenging RE curriculum.
SIAMS inspections were carried out in 15 schools. All were confirmed to be living up to their foundation as
Church Schools. We continue to have no schools who are not meeting the obligations of their trust deeds. It is
heartening to read how well our schools have thought through their contextual Christian vision and are using it to
drive all of thelr work.
In 2024 OFSTED removed the headllne grade glven In school Inspectlons. They visited 27 schools during 2024
with 23 receiving individual good classifications in all areas of inspection. Four schools received requires
improvement in some of the areas of inspection. The DBE continues to work with Local Authorities, Multi
Academy Trusts and the Department for Education to ensure that schools have appropriate school improvement
support when needed.
Page 4

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevements and perforniance {continued)
2024 brought significant change into the education arena with the arrival of a new government. Rapid changes
have meant that the DBE has had to re-consider its approach to academy conversion. We have commissioned
an external consultant to work with us and our 6 MAT CEOS to consider how all DBE schools, academy or
maintained, can benefit from closer collaboration to provide the best education possible for every child in our
care, using scant resources wisely and effectively. The Coventry Co-operation Project will report in the summer
of 2025 and a new school organisation policy will be launched in September 2025.
December 2024 brought the end to anolher triennium and Synod were asked to appoint new DBE Members. We
were pleased lo see a number of people stand for election and 5 new DBE members will join those appointed by
the Bishop to consider skill set and the characteristics required in the 4 members we are able to co-opt.
Through activities which promote and assist education in the diocese, consistent with the faith and practice of the
Church of England, the trustees are confidenl that a significant benefit has been delivered for a significant
section of the public- our children and young people.
b. Volunteers
These actlvilles and achievements depend upon slgnlficant amounts of tSme contributed by 12 unpaid DBE
members, 16 Members and 44 Directors of the 6 DBE controlled Multi Academy Trusts, alongside 233
foundation governors in individual schools, who contribute to the strategic development of the DBE. The value of
this time cannot be quantified and recognised in the financial statemenls of the DBE, but it is not forgotten and is
of huge benefit.
Flnanclal revlew
Total income in the year was £498,000 (2023.. £621,000). Grants from Coventry Diocesan Board of Finance
included in this figure amounted to £169,000 {2023.' £160,000).
After expenditure and galns on Investments the net income for the year was a surplus of £222.000 (2023..
surplus of £602,000). The net income on unrestricted operations was a surplus of £4,000 (2023.. surplus of
£18,000).
Investments
The DBE'S investment policy as trustee of the s.554 Trust is to Safeguard capital values of investments in real
terms over the long term and to produce real growth in net investment income. whilst complying wilh the Church
of England Elhical Investment Policy.
Investments are principally held in two funds managed by CCLA Investment Management Limited -the CBF
Church of England Investment Fund and the CBF Church of England Global Equity Income Fund. The total value
of investments at 31 December 2024 was £6,965,000 (2023.. £6,716,000).
Page 5

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves pollcy
Reserves held in restricted or designated funds are held for the purpose of those funds, as described in note 21
to the financial statements. Free reserves are held in the DBE'S General Fund. The trustees, reserves policy is to
ensure the provision of adequate financial resources in an environment of Gonstsnt change and increasing
challenge. without having to make sudden increases in charges for services. The policy is therefore for General
Fund reserves not held in fixed assets to be within a wide range of between three and ￿e1ve months, worth of
the year's total resources expended.
General Fund reserves not held in fixed assets at 31 December 2024 were £765,000 12023: £658,000),
amounting to 12 months (2023'.12 months) of the total resources expended in the year, which was therefore
within the policy range.
Plans for future perlods
The DBE plans to continue and to extend its existing activities, and in particular:
to conllnue to provlde quality services to Church of England schools and academles and other schools
who wish to participate at a time when their own budgets are facing ever increasing pressures;
to continue to develop the Christian distinctiveness of schools in partnership with parishes and the whole
diocese, as they work together to enable their communities to live life in all its fullness.
to work with the six CofE majority MATS in the Diocese, maintained schools, local authorities and the DFE
Regional Director to develop a pipeline of conversions so that every school is in a strong MAT by
September 2030.
d)
to support schools who remain in the maintained sector to Secure school improvement and financial
support from their LA;
to support opportunities for growth, both at existlng schools and on new housing developments.
to support schools in focusing upon improving educational provision for children with special educational
and Social Emotional and Mental Health Needs in partnership with the local church within the community:
g)
to ensure that these activlties are financed sustainably whilst keeping the General Fund reserves in line
with the reserves policy.,
h)
to bless the church schools In the diocese and the children attending them with new ways to experience
the love of Christ
Page 6

COVENTRY DIOCESAN BOARD OF EDUCATION
IA company limited by guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Governance and management
The DBE operates in accordance with the measure and its articles of association, which were last updated by a
special resolution of Ihe Board on the 6th January 2022 to come into effect on 1 March 2022.
The members of the DBE are members of the company for the purposes of company law, and as such each
have a personal liability limited lo £1 under their guarantee as company members. They are also the trustees of
the DBE and the directors of the company for the purposes of company law. DBE members are determined by
the measure and the DBE'S articles of association and in 2024 comprised.. the Bishop of Coventry. three persons
appointed by the Bishop: five members elected by Diocesan Synod: and four persons co-opted by the DBE
Board. Induction of new members is Carried out by providing them with a summary of their responsibilities and
other briefing material on appointment.
The DBE members, as trustees and directors, have and accept ultim8te responsibility for directing the affairs of
the DBE. The DBE Board has one sub-committee, the Business and Investment Committee. A skills audit is
carried out periodically and skills are matched wherever possible to ensure sub-committee membership includes
an appropriate skill base.
Day to day managem8nt is del8gat8d by the truste8S to the Dioc8san Director of Education. who is appointed by
the Bishop of Coventry. The Diocesan Director of Education is also the Company Secretary.
Under the leadershlp of the Dlocesan Dlrector of Educatlon, the DBE malntalns a Rlsk Register thal identifies
and assesses the key risks to the organisation and how these can be mitigated. This is updated as risks change
and is reviewed at least annually by the Business and Investment Committee and the DBE Board. The major
risks currently identified include changes to the level of income receivable, particularly from grants. financial
andlor political pressure on schools, budgets threatening their ability to provide quality worship and RE teaching.,
insufficient suitably skilled and experienced people to fill foundation governor posts; competition from secular
multi academy trusts seeking to acquire church schools and change their core purpose.
The $.554 Trust
The DBE is the sole (corporate) trustee of the s.554 Twst. In that capacity, the DBE has allocated the investment
income and the use of the buildings of the trusts for the D8E's activities, subject to uses in accordance wilh
section 554 of the Education Act 1996. which are set out in the notes to the financial statements.
Related Partles
The s.554 Trust is related to the DBE by virtue of the DBE being its corporate trustee and applying the
investment income arising for the DBE'S purposes, subject to the statutory restrictions applying to that income.
Accordingly, the assets of the s.554 Trust, although not owned by the DBE in its own right, are included with the
financial statements of the DBE.
Page 7

COVENTRY DIOCESAN BOARD OF EDUCATION
(A Company limited by guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees. responslbllltles
The Trustees (who are also the directors of the DBE for the purposes of company law) are responsible for
preparing the Trustees, report and the directors, report and the financial statements in accordance with
applicabl8 law and United Kingdom Accounting Stsndards {United Kingdom Generally Accepted Accounting
PractiC8).
Company law requires the trustees to prepare financial statements for each financlal year which give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources. including the income and expenditure, of the charitable company for that period. In preparing these
rinancial statements. the trustees are required to:
select suitable accounting policies and then apply them consistently,
observe the methods and principles of the Charities SORP:
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards hav8 been followed, subject to any material departures
disclosed and explained in the financial statements. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are responsible for safeguarding the assets of the charitable
company and henc8 for taking reasonable steps for the prevention and detection of fraud and other irregularities.
They are also responsible for the maintenance and integrity of the DBE'S corporate and financial infomiation
included on the DBE'S website. Legislation in the United Kingdom goveming the preparation and dissemination
of financial statement may differ from legislation in other jurisdictions.
Dlsclosure of Inforn)atlon to auditor
The trustees who were in office on the date of approval of these financial statements have confirmed, as far as
they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the trustees
has confirmed that they have taken all the steps that they ought to have taken as trustees and directors in order
to make themselves aware of any relevant audlt Infomatlon and to establlsh that It has been communlcated to
the auditor.
Audltor
The audit went to tender and Crowe were reappointed in 2023. A resolution to reappoint Crowe U.K. LLP as
8uditor to the company and to authorise the Board of Directors to fix the auditor's remuneration will be proposed
at the Annual General Meeting.
Approved by order of the
of the board of Trustees and signed on their behalf by.
Mr Michael Draper
(Chair of Trustees)
Date:
Page 8

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY DIOCESAN BOARD OF
EDUCATION
Opinlon
We have audiled the financial statements of Coventry Diocesan Board of Education for the year ended 31
December 2024 which comprise the Statement of financial activities. the Balance sheet, the Statement of cash
flows and the related noles, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounling
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its
incoming resources and appllcation of resources. Including its Income and expendlture for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Acl 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide 8 basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financlal slatements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relatlng to events or
conditions that, individually or collectively, may cast significant doubt on the charitable companvs ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibililies of the Trustees with respect to going concern are described in the
relevant sections of this report.
Page 9

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY DIOCESAN BOARD OF
EDUCATION {CONTINUED)
Other Inforniatlon
The other information comprises the information included in the Annual report other than the financial statements
and our Auditorfs report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other infomation and, except to the
extent otherwise explicitly stated in our report. we do not express any fom) of assurance conclusion thereon. Our
responsibility is to read the other infomiation and, in doing so. consider whether the other information is
materially inconsistent with the financial ststements or our knowledge obtained in the course of the audit, or
otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material
misstatements. we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have perfomied, we conclude that there is a material
misstatement of thls other information, we are required to report that fact.
We have nothlng to report in this regard.
Oplnlon on other matters prescribed by the Companles Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the infomiation given in the Trustees, Report for the financial year for which the financial statements 8r8
prepared is consistent with the financial statements.
the Trustees. Report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit. we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to whlch Companles Act 2006 requires
us to report to you If, Sn our oplnlon:
adequate accounting records have not been kept. or retum5 adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the infomiation and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and
from the requirement to prepare a Strategic Report.
Page 10

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY DIOCESAN BOARD OF
EDUCATION (CONTINUED)
Responslbllltles of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the
charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statemenls that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial stalements. the Trustees are responsible for assessing the charitable companls ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basls of accounting unless the Truslees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Audltor's responsiblllties for the audit of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wilh ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise
from fraud or error and are considered materi81 if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of Ihese financial statements.
Irr8gularitl8s, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibillties, outllned above, to detect material mlsstatements In respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the Company operates,
focusing on those laws and regulations that have a direct effect on the determination of material amounts and
disclosures in the financial statements. The laws and regulations we considered in this context were the
Companies Act 2006. We assessed the required compliance with these18ws and regulations as part of our audit
procedures on the related financi81 stalement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financlal statements but compliance with which might be fundamental to the Companvs ability to operate or to
avoid a material penalty. We also considered the opportunitles and incentives that may exist within the Company
for fraud. The laws and regulations we considered in this context for the UK operations were General Data
Protection Regulation IGDPR), Anti-fraud, bribery and corruption legislation, environmental protection legislation.
Health and safety legislation, Taxation legislation and Employment legislation.
Auditing slandards limit the required audit procedures to identify non-compliance with these laws and regulations
to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatesl risk of material impact on the financial statements from irregularities, including fraud,
to be in the following areas- timing of recognition of income., the override of controls by management, including
posting of unusual joumals; inappropriate treatment of non-routine transactions and areas of estimation
uncertainty., and manipulating the Company's key performance indicators to meet management targets.
Our audit procedures to respond to these risks included enquiries of management about their own identification
and assessment of Ihe risks of irregularities, review and discussion of non-routine transactions, sample testing
on the posting ofjournals and income transactions and review of accounting estimates for biases.
Pag&11

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY DIOCESAN BOARD OF
EDUCATION (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transaction5
reflected in the financial statements, as we will be less likely to become aware of instsnces of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion. omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements 15 located on the Financial
Reporting Council's website at: vNM.frc.or
.ukJauditorsres
onsibilities. This description forms part of our
Auditorfs report.
Use of our report
This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
companls members those matters we are required to State to them in an Auditor's report and for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have fomied.
Helen Blundell LLB FCA FCIE DChA (Senlor statutory audltor)
for and on behalf of
Crowe U.K. LLP
Statutory Auditor
Black Country House
Rounds Green Road
Qldbury
West Midlands
B69 2DG
Date:
10 July 2025
Page 12

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
UnrestrScted
funds
2024
£000
Restrlcted Endowment
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Total
funds
2023
£000
Note
Income and
endowments from:
Donations and legacies
Charitab18 activities
Other trading activities
Investments
169
91
177
91
313
89
26
26
204
12
197
207
Total Income and
endowments
293
205
498
621
Expendlture on:
Ralsing funds
Charitable activities
43
246
43
482
38
658
236
Total expendltur8
289
236
525
696
Net
Incomel(expendlture)
before net galns on
Investments
Net gains on
investments
(31)
{27)
{75)
245
249
677
Net
Incomellexpendlture)
Transfers between
funds
(31)
245
222
602
21
99
(92)
(7)
Net movement In
funds
107
(123)
238
222
602
Recon¢lllatlon of
funds:
Total funds brought
forward
Net movement in funds
658
107
157
(123)
6,735
238
7,550
222
6,948
602
Total funds carried
forward
765
34
6,973
7,772
7, 550
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 34 form part of these financial statements.
Page 13

COVENTRY DIOCESAN BOARD OF EDUCATION
{A company limlted by guarantee)
REGISTERED NUMBER: 3663851
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
£000
2023
£000
Note
Fixed assets
Tangible assets
Investments
15
350
352
6,716
16
6,965
7,315
7,068
Current assets
Debtors
Cash at bank and in hand
17
77
1,156
93
1,064
Current Ilabllltles
1,233
1,157
Creditors: amounts falling due within one
year
19
(776)
(675)
Net current assets
457
482
Total net assets
7,772
7.550
Charity funds
Endowment funds
Restricted funds
Unrestricted funds
21
21
21
6,973
34
765
6, 735
157
658
Total funds
7.772
7,550
The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial ststements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approv8d and authorised for issue by the Trustees and slgned on their behalf by:
Mr Mlchael Draper
(Chair of Trustees)
Date:
I I
The notes on pages 15 to 34 form part of these financial statements.
Page 14

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General Informatlon
The company is a company limiled by guarantee (registered number 36638511, which is incorporated and
registered in England and Wales. Its charity registration number is 1091145. The registered office and
principal place of business is The Benn Education Centre, Craven Road, Rugby, Warwickshire, CV21
3JZ.
The principal activity is to serve and equip Church of England schools and academies in Coventry diocese
lo worship God, make new disciples and transfomi their communities.
Accountlng pollcles
2.1 Basls of preparatlon of financlal statements
The financlal statements have been prepared in accordance with the CharSties SORP {FRS 102)
Accountlng and Reporting by Charltles.. Statement of Recommended Practice applicab18 to charitles
preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 20191, the Flnancial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Coventry Diocesan Board of Education meets the definitlon of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost except the fixed asset investments
which are included at fair value at the balance sheet date.
The twstees are satisfied that the DBE has adequate resources to continue to operate as a going
concern for the foreseeable future and have prepared the financial slatements on that basis.
2.2 Income
Income is included In the Statement of Flnancial Activities when the charity is legally entitled to it,
ultimate receipt Is probable and the amount to be recognised can be quantified with reasonable
accuracy,
Investment income from the managed portfolio is recognised when received by the fund manager.
Investment income from Common Investment Funds managed by CCLA Investment Managers Ltd is
recognised when dividends are declared.
Income is recognised as deferred where the event or period to which the income relates occurs
beyond the end of the financial period being reported on.
2.3 Expendlture
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate similar costs under each category of the Statement of Financial Activities.
Support costs consist of staff costs, office costs, building costs and governance costs. All support
costs are allocated to the purpose of charitable activities. Costs are allocated to activities using a time
recording method.
Pension costs are charged to the Statement of Financial Activities in the year for which contributions
are payable.
Page 15

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies (contlnued)
2.3 Expenditure {contlnued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
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. Expenditure is classified by activity. The costs
of each activity are made up of the totsl of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds Includ8s all expendlture Incurred by the DBE to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
DBE'S objectives, as well as any associated support costs.
2.4 Tangible fixed assets and depreclatlon
Tangible fixed assets costing £500 or more are capitalised and r8cognised when future economic
benefits are probable and the cost or value of the asset can be measur8d reliably.
Tangible fixed assets are Inltlally recognised at cost. After recognition, under the cost model, tangible
flxed assets are measured at cost less accumulated depreciation and any accumulated Impairment
losses. All costs incurred to bring a tangible fixed asset into its Intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
Freehold property
Office equipment
50 years
34 years
No depreciation is provided on freehold land.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains
and losses. whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the St8lement of financial activities.
2.6 Debtors
Debtors are measured at the transaction price less any impairment losses.
Page 16

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles {continued)
2.7 Cash at bank and In hand
Cash and cash equivalents include cash at bank and short term deposits with any qualifwng
institutions repayable on demand without notice.
2.8 Liabilttles and provisions
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity
to pay out resources. Creditors are measured at transaction price less any amounts settled.
2.9 Agency arrangements
The charity acts as agent in the collection of grants from government, local authorities and other
funds, and payment of approved invoices for school building projects on behalf of certain Church of
Englancl schools in Ihe diocese. This income and expenditure is excluded from the income and
expenditure of ihe charity and any balances due from or held on behalf of schools are excluded from
Ihe balance sheet and reported separately in the notes to the financial statements.
2.10 Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of th8 Trustees in
furtheranc8 of the general objectives of the DBE and which have not been designated for other
purposes.
DesSgnated funds comprise unreslrlcled funds that have been set aslde by the Trustees for partlcular
purposes. The aim and use of each designated fund is set out in the notes to Ihe financial
stalements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the DBE for particular purposes. The aim and use of each
restricted fund is set out in the notes to the financial statements,
Endowment funds are funds to be retained as capital funds held on trust by The Coventry Diocesan
Board of Education s.554 Trust, registered charity number 1159313, for which the DBE Is the sole
(corporate) trustee. As there is power of discretion for the trustee to convert the endowed funds into
income. the funds are classed as expendable endowment.
Crltlcal accountlng estlmates and areas of Judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions:
The DBE makes estimates and assumptions concerning the future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Page 17

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donatlons and legacies
Unrestricted Restricted
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Grants
Grants from Coventry Diocesan Board of Finance Limited
Altemative Provision
169
169
Total 2024
169
177
Unr8slricf8d
funds
2023
£000
Restricted
funds
2023
£000
Total
funds
2023
Grants
Grants from Coventry Dlocesan Board of Financ8 Limited
Altematlve Provlsion
160
160
12
12
160
12
172
Donatlons
141
141
Total 2023
301
12
313
Page 18

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charltable actlvities
Unrestricted
funds
2024
£000
Total
funds
2024
£000
Services to schools and academies
91
91
Unrestricted
funds
2023
£000
Total
funds
2023
£000
Services to schools and academies
89
89
Income from other tradlng actlvltles
Income from non charltable tradlng actlvltles
Unrestricted
funds
2024
£000
Total
funds
2024
£000
Accommodation charges
26
26
Unreslri¢ted
funds
2023
£000
Total
funds
2023
£000
Accommodation charges
12
12
Page 19

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment Income
Unrestrlcted Restricted
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Rental income
Dividend income
Bank interest
192
192
Total 2024
197
204
Restricted
funds
2023
£000
Tot81
funds
2023
£000
Rental income
Dividend income
Bank Interest
196
196
Tot812023
207
207
Investment management costs
Unrestricted
funds
2024
£000
Total
funds
2024
£000
Accommodation costs
43
43
Unrestrlcted
funds
2023
£000
Total
funds
2023
£000
Accommodation costs
38
38
Page 20

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysls of expendlture on charltable actlvltles
Summary by fund type
Unrestrlcted Restrlcted
funds
funds
2024
2024
£000
£000
Total
2024
£000
Services to schools and academies
Other
211
182
54
393
89
35
Total 2024
246
236
482
Unrestricted
funds
2023
£000
Reslricted
funds
2023
£000
Total
2023
£000
Services to schools and academies
Other
346
236
76
582
76
Total 2023
346
312
658
Summary by expendlture type
Staff costs Other costs
2024
2024
£000
£000
Total
2024
£000
Services to schools and academies
Other
277
116
89
393
89
Total 2024
277
205
482
Page 21

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analys15 of expendlture on charltable actlvltles (contlnued)
Summary by expendlture type (contlnued)
Staff costs Other costs
2023
2023
£000
£000
Total
2023
£000
Services to schools and academies
Other
281
301
76
582
76
Total 2023
281
377
658
10.
Analysls of expendlture by actlvltleg
Purchased
services
and
materlals
2024
£000
Support
costs
2024
£000
Total
funds
2024
£000
Services to schools and academies
Other
341
78
52
393
89
Total 2024
419
63
482
Purchased
services 8nd
materials
2023
£000
Support
costs
2023
£000
Total
funds
2023
£000
Services to schools and academies
Other
339
76
243
582
76
Total 2023
415
243
658
Analysls of support costs
Govemance costs includes extemal audit fees of £10.000 (2023 £9,000) and legal and professional
fees £2.000 (2023- £Nil).
Page 22

COVENTRY DIOCESAN BOARD OF EDUCATION
{A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Auditorfs remuneratlon
2024
£000
2023
£000
Fees payable to the DBE'S auditor for the audit of the DBE'S annual
accounts
Fees payable to the DBE'S auditor in respect of:
All non-audit services not included above
12. Staff costs
2024
£000
2023
£000
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
233
19
25
236
21
24
277
281
The average number of persons employed by the DBE during the year was as follows:
2024
2023
Administration and support
The average headcounl expressed as full-time equivalents was:
2024
2023
No.
Administration and support
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2024
No.
2023
No.
In the band £80,001- £90.000
Key management personnel are those having authority and responsibility. delegated to them by the
trustees. for planning, directing and controlling the activities of the charity. The remuneration for key
management personnel, including 8mployerfs national insurance and pension contributions was £109,892
(2023- £100,521).
Page 23

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Trustees and volunteers
The DBE benefits from significant amounts of time contributed by unpaid DBE members (who are also
trustees) and olher volunteers by their attendance at meetings and contribution to the strategic
clevelopment of the DBE. The value of this time cannot be quantified and recognised in the financial
statements of the DBE.
14. Trustees. remuneratlon and expenses
During th8 year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 December 2024. expenses totalling £33 were reimbursed or paid directly to 1
Trustee (2023 - £24 to 1 Trustee). These expenses relates to claims made by trustees for attending D8E
meetings.
15. Tangible fixed assets
Freehold
land &
bulldlngs
£000
Offl¢e
equlpment
£000
Total
£000
Cost or valuatlon
At 1 January 2024
Additions
410
33
443
At 31 December 2024
410
37
447
Depreclatlon
At 1 January 2024
Charge for the year
58
33
91
At 31 December 2024
63
97
Net book value
At 31 December 2024
347
350
At 31 December 2023
352
352
All tangible fixed assets were used for direct charitable purposes.
Freehold land & buildings includes land of £153,000 which is not depr8ciat8d.
Page 24

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16. Flxed asset Investments
Unllsted
Investments
£000
Cost or valuation
At 1 January 2024
Gains
6,716
249
Al 31 December 2024
6,965
Investments are held primarily to provide an investment return. Unlisted investment consists of holdings
in C8F Church of England Common Investment Funds managed by CCLA Investment Managers Ltd.
17. Debtors
2024
£000
2023
£000
Due wlthln one year
Trade debtors
Prepayments and accrued income
29
64
72
77
93
18. Cash at bank and In hand
Cash and cash equivalents include short term deposits of £281,000 (2023- £281,000) and cash balances
held as agent on behalf of Diocesan schools of £711,000 (2023 - £338,000).
Page 25

COVENTRY DIOCESAN BOARD OF EDUCATION
(A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19.
Credltors: Amounts falllng due wlthln one year
2024
£000
2023
Trade creditors
Other taxation and social security
Pension contributions
Accruals and deferred income
Balances held as agent on behalf of Dlocesan schools
270
10
13
51
338
715
776
675
20.
Flnanclal Instruments
2024
£000
2023
Flnanclal asset8
Flnanclal assets measured at fair value through income and expenditure
6,965
6,716
Financial assets measured at fair value through income and expenditure comprise listed and unlisted
investments.
Page 26

COVENTRY DIOCESAN BOARD OF EDUCATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Statement of funds
Statement of funds - current year
Balance at
31
Gainsl December
(Losses)
2024
£000
£000
Balance al 1
January
2024
£000
Transfers
inlout
£000
Income Expenditure
£000
£000
Unrestricted
funds
Deslgnated
funds
Lucy Price Fund
202
(202)
General funds
General Funds
456
293
(289)
301
765
Total
Unrestrlcted
funds
658
293
<289)
99
765
Endowment
funds
s.554 Trust
Capital Fund
6,735
(71
245
6,973
Restrlcted
funds
The Beacon
Fund
Cullham St
Gabriel Grant
s.554 Tnjst
Income Fund
REC Worldwide
Westhill project
(39)
63
29
152
197
(193)
(2)
(2}
{156)
157
205
(236)
(92)
Total of funds
7,550
498
{525)
249
7.772
Page 27

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Statement of funds (contlnued)
Description of Funds:
5.554 Trust Capital Fund - Expendable Endowment
The s.554 Trust Capital Fund consists of the funds and property of The Coventry Diocesan Board of
Education s.554 Trust ("the s.554 Trust ), registered charity number 1159313 for which the DBE is the
sole (corporatel trustee. These assets arose from redundant educational properties and their sales
proceeds. The assets were originally held under separate uniform statutory trusts with the same
permitted uses, treated in recent years as a single trust and fund for the purposes of inclusion in these
financial ststements. On 5 March 2014, the DBE members passed a resolution to manage the unifom
statutory trusts as a single united charity, which was registered with the Charity Commission on 21
November 2014.
The DBE as trustee of the s.554 Trust may, after payment of any expenses incurred In connection viith
the administration of the trusts, apply the capital of the s.554 Trust's assets:
(a) In or towards the purchase of a site for, or the erection, improvement or enlargement of:
(i) the premises of any Church of England school in the Diocese of Coventry or
(ii) the premises of a teachers, house for use in connection with any Church of England school In the
Diocese of Coventry: and
(b) for the maintenance of any Church of England school in the Diocese of Coventry or of a teacherfs
house for use in connection with any Church of England school in the Diocese of Coventry.
s.554 Trust Income Fund - Restrlcted
This fund has arisen from Income from the assets of the Uniform Statutory Trusts which are combined
Into a single trust as described above. This fund may be used for any of the following purposes..
(a) for the same purposes as the s.554 Trust Capital Fund as laid out above.
{b) in or towards the provision of advice, guidance and resources (including materi81s) in connection with
any matter related to the management of. or education provided at, any Church of England school in the
Dlocese of Coventy.
(c) the provision of services for the carrying out of any inspection of any Church of England school in the
a￿8 required by Part 1 of the School Inspection Act 1996(a) and.
(d) to defray the cost of employing or engaging staff in connection with the application of the s.554 Trust
Income or Capitsl Funds.
The Beacon Fund - Restricted
The Beacon Project has been established to fund a new approach to working with children at risk of
exclusion focusing upon improving educational provision through trauma and attachment aware practices
for children with social, emotional and mentsl health needs {SEMH). Grants and donations received for
the specific purpose of supporting this project are accounted for in this fund. Project expenditure in
excess of the restricted funds receivable is funded oul of the Lucy Price designated fund.
Lucy Prlcè Fund - Designated
This fund was established when the Lucy Price Wasperton Estate Charity made an unresthcted donation
to the DBE of £515,000 upon its winding up and realisatlon of its ass8ts in 2018. The trustees initially
resolved that this donation should be designated for specific purposes, which include the bidding for new
schools, supporting school improvement and academisation in existing voluntary aided and controlled
schools and creating additional altemative provision in 8XlSting or new schools (including the Beacon
Project).
Page 28

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Statement of funds {contlnued)
Funds remaining within the original fund at 31 December 2024 were considered by the trustees, who
concluded that the balance should now be included within the general. unrestricted resources of the DBE
and this transfer is reflected in the note.
REC Worldwlde
Jennifer Jenkins, RE and Spirituality Officer, has been selected by the Religious Education Council to
lead one of three teams set up to create a framework and exemplary units to exemplify best practice in
Religion and Worldviews in Religious Education. This is a project of national significance as il will inform
the way that religious education is taught in the context of worldviews, a paradigm change in the w8y
religious education is taught. Jennifer's team is focusing on the theme of reconciliation, which lies al Ihe
heart of the misslon of the Coventry Diocese.
General Fund
Unrestricted funds that are not held for any specific purpose are held in the General Fund.
Page 29

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarant88)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Statement of funds (contlnued)
statement of funds - prlor year
Balance at
31
December
2023
£000
B818nce 8t
1 January
2023
£000
Transfers
in/out
Gains/
(Losses)
£000
Incom8 Expenditure
£000
£000
Unrestricted
funds
Deslgnated
funds
Lucy Price Fund
266
(64)
202
General funds
General Funds
427
402
(384)
11
456
Total
Unrestrlcted
funds
693
402
(384)
(53)
658
Endowment
funds
s.554 Trust
Capital Fund
6.069
(11)
677
6, 735
Restrlcted
funds
The Beacon
Fund
Cullham Sl
Gabriel Grant
s.554 Trust
Income Fund
REC Worldwide
(64)
64
(3)
178
215
(241)
(4)
152
186
219
(312)
157
Total of funds
6,948
621
(696)
677
7,550
Page 30

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22. Summary of funds
Summary of funds - current year
Balance at
31
Galnsl December
{Lossesl
2024
£000
£000
Balance at 1
January
2024
£000
Transfers
Inlout
£000
Income Expenditure
£000
£000
Designated
funds
General funds
Endowment
funds
Restricted funds
202
(202)
301
456
293
(289)
765
6,735
157
{7)
{92)
245
6,973
205
(236)
7,550
498
<525)
249
7,772
Summary of funds - prlor year
Balance a
31
December
2023
£000
Balance 81
l January
2023
£000
Transf8rs
in/oul
£000
Gains/
(Losses)
£000
Income Expenditure
£000
£000
Designated
funds
General funds
Endowment
funds
Restricted funds
266
427
(64)
11
202
456
402
(384)
6,069
186
(11)
64
677
6, 735
157
219
(312)
6, 948
621
(696)
677
7,550
Page 31

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limltod by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
23. Analysls of net assets between funds
Analysls of net assets between funds - current period
Unrestricted Restrirted Endowment
funds
funds
funds
2024
2024
2024
£000
£000
£000
Total
funds
2024
£000
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
182
168
6,805
350
6,965
1,233
(776)
160
1,381
(776)
{148)
Total
765
6,973
7,772
Analysls of net assets between funds - prlor perfod
Unrestricted
funds
2023
£000
Restricted Endowmenl
funds
funds
2023
2023
£000
Total
funds
2023
£000
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
183
169
6,566
352
6.716
1.757
(675)
150
1,183
(675)
(26)
Total
658
157
6. 735
7,550
Page 32

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
24.
Penslon commitments
The DBE participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF Is adminlstered
by the Church of England Pensions Board, which holds the CWPF assets separately from those of the
Employer and other participating employers.
CWPF has two sections..
Ihe Defined Benefits Scheme
the Pension Builder Scheme, which has two subsections:
a deferred annuity section known as Pension Builder Classic, and.
a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a
deferred annuity during employment based on terms set and reviewed by the Church of England Pensions
Board from time to time. Discretionary increases may also be added, depending on investment relurns
and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide
benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary
bonuses may be added before retirement, depending on investment returns and other factors. Th8
account. plus any bonuses declared is payable, unreduced, from age 65.
There Is no sub-division of assels between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is
because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific
employers and means that contributions are accounted for as if the Scheme were a defined contribution
scheme. The pensions costs charged to the SOFA in the year are the contributions payable (2023:
£24,000, 2022., 21.000. 2021.. £22,000).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent
valuation was carried out as at 31 December 2022. The next valuation is due as at 31 December 2025.
For the Pension Builder Classic section. the valuation revealed a deficit of £4.8m on the ongoing
assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of
30/0 following improvements in the funding positlon over 2021. There Is no requirement for deficit
payments at the Current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing
assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, the DBE could become
responsible for payng a share of the failed employevs pension liabilities.
Page 33

COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarant80)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25. Operatlng lease commltments
At 31 December 2024 the DBE had commitments to make future minimum lease payments under non-
cancellable operating leases as follows..
2024
£000
2023
£000
Not later than 1 year
Later than 1 year and not later than 5 years
The following lease payments have been recognised as an expense In the Statement of financial
activities:
2024
£000
2023
£000
Op8rating lease rentals
26. Related party transactlons
Coventry Dlocesan Board of Finance Ltd (CDBF) provided the DBE with grants of £168,000 (2023:
£160.004) in the year towards the costs of the DBE'S charitsble activities including its statutory
obligations. No other goods and services were provided by the CDBF in the year (2023.. £0). The amount
owing to the CDBF at 31 December 2024 in relation to transactions be￿een the two parties was £0
(2023: £1,004).
During the year Coventry Diocesan Board of Education was appointed as the corporate tnjstee of Blue
Coat Charity (charity numb8r 511793), whose funds are applied for the benefit of the Blue Coat Church of
En9land School. The funds of £3.757 held on behalf of the Blue Coat Charity are shown in creditors.
The amount owing to the DBE at 31 December 2024 in relation to transactions between the parties
was £0 {2023'. £0).
The DBE made no payments to any trustees In relation to claims for expenses for attending DBE
meetings (2023.. £24). At 31 December 2024 there was an amount of £0 owed to a trustee (2023.. £0).
Page 34