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 2025
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the DBE, its Trustees and advisers | 1 |
| Trustees' report | 2 - 8 |
| Independent auditor's report on the financial statements | 9 - 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 |
| Notes to the financial statements | 15 - 35 |
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 2025
| Trustees | Mr Michael Draper, Chair, Bishop's nominee |
|---|---|
| Mrs Emma Griffiths, Elected | |
| The Ven Barry John Dugmore, Bishop's nominee | |
| Rev'd Timothy Cockell, Bishop's nominee | |
| Right Rev'd Sophie Jelley, Bishop of Coventry, Ex-officio (appointed 14 February 2025) |
|
| Mr Peter Merrylees, Co-opted (appointed 1 April 2025) | |
| Rev'd Greg Bartlem, Elected (HO) (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 (HO) (appointed 1 January 2025) | |
| Ms Sharon Jones, Co-opted (appointed 1 April 2025) | |
| Company registered number 3663851 Charity registered number 1091145 Registered office The Priory Priory Road Wolston Coventry England CV8 3FX 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 limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees, who are also Directors for the purposes of company law, present their combined Trustees’ and Directors’ report for Coventry Diocesan Board of Education (“the DBE”), together with the audited financial statements, for the year ended 31 December 2025.
Under the Diocesan Boards of Education Measure 2021, 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.
Objectives and activities
a. Policies 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:
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promote or assist in the promotion of education in the diocese that is consistent with the faith and practice of the Church of England;
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promote or assist in the promotion of religious education and religious worship in schools in the diocese;
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promote or assist in the promotion of church schools in the diocese;
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promote co-operation between itself and other persons concerned with education in the diocese.
The DBE’s principal activity is to serve 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 provided 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 principal beneficiaries of these services are the approximately 18,600 children and young people attending the 76 Church of England schools and academies in the diocese. Within our Church majority Multi Academy Trusts, we have an additional 9 community schools that have chosen to join the family and work in partnership with our Church schools. Wider than this, the DBE also aims to promote and assist in the promotion of education consistent 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 statutory trusts, united into a single (registered charity) trust. The funds in this trust have arisen from the return to the Church of England of its deemed share of the proceeds from the sale of former school properties. The permitted uses of the capital are explained in note 21 to the financial statements. The DBE uses the investment income to subsidise its services. These trusts also include the building which 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 Diocese is vested in the DBE as trustee; however there is no beneficial interest whilst the property is still in use for the schools.
In 2024 the DBE became the custodian trustee of the Coventry Blue Coat Church of England School Foundation (registered number 511793) which exists to collect income from a wayleave arrangement and make it available to the Coventry Blue Coat School.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Objectives 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 achieve 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 light shine before others, that they may see your good deeds and glorify your Father in heaven.”
b. Strategic objectives in 2025 included
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Creating and sustaining collaborative school groupings . Ensuring that all schools feel part of the DBE family and both academies and maintained schools are able to collaborate to deliver high quality Christian education. Deliver training and support to enable staff to embrace their vocation to teach and develop a theology of education as mission .
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Supporting schools to live out an expansive Christian vision rooted in Wisdom, Hope, Dignity and Community. Enabling schools to develop a culture rooted in their Christian vision which impacts curriculum, teaching and relationships. Encouraging a strong focus on inclusion where schools value diversity, embrace difference, pursue inclusion and nurture aspiration.
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Developing parish partnerships to nurture spirituality, worship God, and journey in faith together. Parishes will embrace a vision of planting where the school community is seen as part of the Church. Children, families, staff, clergy and parishioners encounter God in school. By journeying together the Parish, school staff, children and families develop their spirituality. They worship together and the faith of the school and parish grows.
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Training, equipping and sending out a generation of World Changers . Schools enrich the curriculum by asking big kingdom questions, encouraging children to imagine solutions and drive change. Schools, in partnership with their parishes, develop courageous advocacy and leadership in children leading to children taking action which has local and global impact.
Achievements and performance
a. Achievements with the principal activities
The 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 24/25, 100% of schools signed up. We have continued to provide regular Head Teacher briefings and a wide range of CPD for all levels of leadership within schools, all focussed upon Christian Distinctiveness. We hosted our second Head Teacher and Parish Partner Conference in November. We had keynote speeches from Diana Osagie about courageous leadership and Emma Griffiths supported from Walsgrave CofE Primary School on being peace builders. In the afternoon we split into groups with the options of learning more about the International Cross of Nails Schools programme or the primary school Difference Course.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Achievements and performance (continued)
The final phase of the Beacon project was completed in 2025. The final £5,000 grant from the 29th May 1961 Charitable Trust contributed to the costs of the project. A final review was received by the Board and led to the identification of a partner, ARISE education, to help us take our learning forward. Following discussions with Head teachers and Warwickshire Local Authority we began planning for a primary age Alternative and Additional Provision centre in the Benn Education Centre in Rugby. This is on track to open in September 2026 with the aim to reduce the number of permanent exclusions for primary aged children in the area, and provide a safe haven for those who have been excluded with support to re-integrate them into an appropriate educational setting as soon as possible. We hope that this collaboration will be the first of many as we assess, with schools and other partners, what mainstream Christian education in community needs to look like for the future flourishing of all children and families.
Following on from the DBE’s Alive 2023 event and the successful 2024 partnership with iSingPop to provide Collective Worship and RE support in schools, in partnership with their parishes, we continued the partnership for another year. During 2025 –
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7 schools had “Main Events” – a four-day project including teaching and singing, culminating in a concert in school or Church for families
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4 schools had a similar four-day event tailored to their school vision.
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12 schools had one-day “Workshops” focussed on a Christian Festival or theme
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3 schools had bespoke one day events, co-created with the school team to focus on an element of their curriculum
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3 bespoke parish led events co-created with the parish children’s team
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9 “Pop Box Clubs” where a small group of children were trained to plan and deliver Collective Worship in their schools using the two pop-boxes provided to each school.
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Another Year 6 Jamboree in a small MAT
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A transitions programme for all Year 6 children in CofE schools in Rugby deanery, culminating with a moving up event in August at Harris CofE Academy.
In total over the 2 years of the partnership, 55 schools have engaged at least once. Parishes are beginning to build on this work, and we are aware of 8 new parish groups outside of the school day for the children to journey in faith and 3 new intergenerational worshipping communities. We will continue for a further year in 2026, using reserves to fund the work because of its impact. In 2026 we will intentionally focus on planting 4 new in-school worshipping communities, drawing in the schools who have not yet engaged to experience a workshop, add 8 new Pop Box clubs and work with 10 schools to create a bespoke 4-day event linked to their vision or RE curriculum.
During 2025 we continued to support the new Coventry and Warwickshire SACRE syllabus for RE. We have continued to work with CofE schools on the Christianity elements whilst our new SACRE facilitator, an Assistant Head at Blue Coat CofE School, has supported with other elements.
SIAMS inspections were carried out in 17 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 their work.
In 2025 OFSTED visited 15 schools. There is no longer a headline judgement given, but the individual judgements are used to identify schools requiring support to make rapid improvement. In 2025 two schools were in this category and we worked with the DFE regions team to identify an appropriate partner to provide support through the new RISE programme.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Achievements and performance (continued)
During 2025 we worked with an external consultant 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 reported in September 2025 and a new Memorandum of Understanding and Academy Strategy were issued in draft in readiness for a January meeting with all MAT Chairs, CEOs and DBE Members. This will inform our response to the 2025 Schools Whitepaper.
Five new DBE members joined the DBE in January 2025 and we added 2 additional co-opted members. Bishop Sophie joined the Diocese in June 2025 and has attended DBE meetings and visited a number of schools during the immersion phase of her first year. In 2026 we look forward to partnering with the DBF and the Bishop in the creation of a new strategic direction for the Diocese.
Through activities which promote and assist education in the diocese, consistent with the faith and practice of the Church of England, the trustees are confident that a significant benefit has been delivered for a significant section of the public – our children and young people.
b. Volunteers
These activities and achievements depend upon significant amounts of time contributed by 12 unpaid DBE members, 16 Members and 44 Directors of the 6 DBE controlled Multi Academy Trusts, 12 appeal panellists, alongside 220 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 statements of the DBE, but it is not forgotten and is of huge benefit.
Financial review
Total income in the year was £491,000 (2024: £498,000) . Grants from Coventry Diocesan Board of Finance included in this figure amounted to £177,000 (2024: £169,000) .
After expenditure and unrealised losses on investments, the net income for the year was a deficit of £388,000 (2024: surplus of £222,000) . The net income on unrestricted operations was a deficit of £36,000 (2024: surplus of £4,000) .
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 with the Church of England Ethical 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 2025 was £6,647,000 (2024: £6,965,000) .
Reserves policy
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 constant 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 twelve months’ worth of the year’s total resources expended.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
General Fund reserves not held in fixed assets at 31 December 2025 were £547,000 (2024: £583,000) , amounting to 11 months (2024: 12 months) of the total resources expended in the year, which was therefore within the policy range.
Plans for future periods
Looking ahead to the next period, the DBE plans:
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a) to continue to provide quality services to Church of England schools and academies and other schools who wish to participate at a time when their own budgets are facing ever increasing pressures;
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b) to continue to develop the Christian foundation 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;
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c) to work with the six CofE majority MATs in the Diocese, maintained schools, local authorities and the DFE Regional Director to ensure that all schools are supported to provide an excellent Christian education.
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d) to support opportunities for growth, both at existing schools and on new housing developments;
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e) 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;
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f) to ensure that these activities are financed sustainably whilst keeping the General Fund reserves in line with the reserves policy;
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g) to bless the church schools in the diocese and the children attending them with new ways to experience the love and challenge of demonstrating the love of Christ.
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 the 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 to £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 ultimate 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 management is delegated by the Trustees to the Diocesan Director of Education, who is appointed by the Bishop of Coventry. The Diocesan Director of Education is also the Company Secretary.
Under the leadership of the Diocesan Director of Education, the DBE maintains a Risk Register that 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 in government policy towards CofE schools; the potential impact of a new Diocesan Strategy; cyber security, particularly in relation to scams and phishing; agreeing a lease on the Benn Education Centre and finding alternative offices; the level of income receivable, particularly from the DBF grant and the s.554 Trust.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
The s.554 Trust
The DBE is the sole (corporate) trustee of the s.554 Trust. In that capacity, the DBE has allocated the investment income and the use of the buildings of the trusts for the DBE’s activities, subject to uses in accordance with section 554 of the Education Act 1996, which are set out in the notes to the financial statements.
Related Parties
Coventry Diocesan Board of Finance Ltd provided the DBE with grants of £177,000 (2024: £169,000) in the year towards the costs of the DBE’s statutory obligations and charitable activities.
The s.554 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.
Statement of Trustees' responsibilities
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 financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the DBE and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the DBE will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the DBE's transactions and disclose with reasonable accuracy at any time the financial position of the DBE and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the DBE and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information 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 audit information and to establish that it has been communicated to the auditor.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Auditor
Crowe U.K. LLP were reappointed as auditor by the trustees in 2023 following a tendering process. A resolution to reappoint Crowe U.K. LLP as auditor 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 members of the board of Trustees and signed on their behalf by:
Rev’d. April Gold Company Secretary Date:
Mr Michael Draper
Chair of Coventry Diocesan Board of Education
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
Opinion
We have audited the financial statements of Coventry Diocesan Board of Education for the year ended 31 December 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
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 to 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 a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, 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 relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's 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 responsibilities 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 information
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to 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 performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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 which Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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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)
Responsibilities 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 statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial 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 with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements 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 these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Company’s ability to operate or to avoid a material penalty. We also considered the opportunities 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 (GDPR), Anti-fraud, bribery and corruption legislation, environmental protection legislation, Health and safety legislation, Taxation legislation and Employment legislation.
Auditing standards 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 greatest 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 journals; inappropriate treatment of non-routine transactions and areas of estimation uncertainty.
Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, review and discussion of non-routine transactions, sample testing on the posting of journals and income transactions and review of accounting estimates for biases.
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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 transactions reflected in the financial statements, as we will be less likely to become aware of instances 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 is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's 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 company's 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 formed.
Helen Blundell LLB FCA FCIE DChA (Senior statutory auditor)
for and on behalf of
Crowe U.K. LLP Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG
Date:
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025
| Note Income and endowments from: Donations and legacies 4 Charitable activities 5 Other trading activities 6 Investments 7 Total income and endowments Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net expenditure before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £000 177 69 16 19 281 40 277 317 (36) (3) (39) 765 (39) 726 |
Restricted funds 2025 £000 5 - - 205 210 3 241 244 (34) - (34) 34 (34) - |
Endowment funds 2025 £000 - - - - - - - - - (315) (315) 6,973 (315) 6,658 |
Total funds 2025 £000 182 69 16 224 491 43 518 561 (70) (318) (388) 7,772 (388) 7,384 |
Total funds 2024 £000 177 91 26 204 498 43 482 525 (27) 249 222 7,550 222 7,772 |
|---|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 35 form part of these financial statements.
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COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee) REGISTERED NUMBER: 3663851
BALANCE SHEET AS AT 31 DECEMBER 2025
| Note Fixed assets Tangible assets 15 Investments 16 Current assets Debtors 17 Cash at bank and in hand 18 Current liabilities Creditors: amounts falling due within one year 19 Net current assets Total net assets Charity funds Endowment funds 21 Restricted funds 21 Unrestricted funds 21 Total funds |
89 776 865 (475) |
2025 £000 347 6,647 6,994 390 7,384 6,658 - 726 7,384 |
77 1,156 1,233 (776) |
2024 £000 350 6,965 |
|---|---|---|---|---|
| 7,315 457 |
||||
| 7,772 | ||||
| 6,973 34 765 |
||||
| 7,772 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Mr Michael Draper
(Chair of Trustees) Date:
The notes on pages 15 to 35 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 2025
1. General information
The Company is a company limited by guarantee (registered number 3663851), 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 Priory, Priory Road, Wolston, Coventry, CV8 3FX.
The principal activity is to serve and equip Church of England schools and academies in Coventry diocese to worship God, make new disciples and transform their communities.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Coventry Diocesan Board of Education meets the definition 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 Trustees 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 statements on that basis.
2.2 Income
Income is included in the Statement of Financial 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 Expenditure
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 limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2. Accounting policies (continued)
2.3 Expenditure (continued)
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 total 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 includes all expenditure 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 depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed 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 50 years - Office equipment 3-4 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 impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement 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 2025
2. Accounting policies (continued)
2.7 Cash at bank and in hand
Cash and cash equivalents include cash at bank and short term deposits with any qualifying institutions repayable on demand without notice.
2.8 Liabilities 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 England schools in the diocese. This income and expenditure is excluded from the income and expenditure of the Charity and any balances due from or held on behalf of schools are excluded from the balance sheet and reported separately in the notes to the financial statements.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the DBE and which have not been designated for other purposes.
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.
3. Critical accounting estimates 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 limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. Income from donations and legacies
| Unrestricted funds 2025 £000 Grants Grants from Coventry Diocesan Board of Finance Limited 177 Alternative Provision - Donations 1 Total 2025 177 Unrestricted funds 2024 £000 Grants Grants from Coventry Diocesan Board of Finance Limited 169 Alternative Provision - Total 2024 169 |
Restricted funds 2025 £000 - 4 - 5 Restricted funds 2024 £000 - 8 8 |
Total funds 2025 £000 177 4 1 |
|---|---|---|
| 182 | ||
| Total funds 2024 £000 169 8 |
||
| 177 |
Page 18
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. Income from charitable activities
| Unrestricted funds 2025 £000 Services to schools and academies 69 Unrestricted funds 2024 £000 Services to schools and academies 91 6. Income from other trading activities Income from non charitable trading activities Unrestricted funds 2025 £000 Accommodation charges 16 Unrestricted funds 2024 £000 Accommodation charges 26 |
Total funds 2025 £000 69 |
|---|---|
| Total funds 2024 £000 91 |
|
| Total funds 2025 £000 16 |
|
| Total funds 2024 £000 26 |
Page 19
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. Investment income
| Unrestricted funds 2025 £000 Rental income - Dividend income - Bank interest 19 Total 2025 19 Unrestricted funds 2024 £000 Rental income - Dividend income - Bank interest 7 Total 2024 7 |
Restricted funds 2025 £000 14 191 - 205 Restricted funds 2024 £000 5 192 - 197 |
Total funds 2025 £000 14 191 19 |
|---|---|---|
| 224 | ||
| Total funds 2024 £000 5 192 7 |
||
| 204 |
8. Investment management costs
| Unrestricted funds 2025 £000 Investment management costs - Accommodation costs 40 Total 2025 40 |
Restricted funds 2025 £000 3 - 3 |
Total funds 2025 £000 3 40 |
|---|---|---|
| 43 |
Page 20
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. Investment management costs (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £000 | £000 | |
| Accommodation costs | 43 | 43 |
9. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2025 £000 Services to schools and academies 412 Other (135) Total 2025 277 Unrestricted funds 2024 £000 Services to schools and academies 211 Other 35 Total 2024 246 |
Restricted funds 2025 £000 - 241 241 Restricted funds 2024 £000 182 54 236 |
Total 2025 £000 412 106 |
|---|---|---|
| 518 | ||
| Total 2024 £000 393 89 |
||
| 482 |
Page 21
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. Analysis of expenditure on charitable activities (continued)
Summary by expenditure type
| Services to schools and academies Other Total 2025 Services to schools and academies Other Total 2024 |
Staff costs 2025 £000 321 - 321 Staff costs 2024 £000 277 - 277 |
Other costs 2025 £000 91 106 197 Other costs 2024 £000 116 89 205 |
Total 2025 £000 412 106 |
|---|---|---|---|
| 518 | |||
| Total 2024 £000 393 89 |
|||
| 482 |
10. Analysis of expenditure by activities
| Services to schools and academies Other Total 2025 |
Purchased services and materials 2025 £000 370 106 476 |
Support costs 2025 £000 42 - 42 |
Total funds 2025 £000 412 106 |
|---|---|---|---|
| 518 |
Page 22
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. Analysis of expenditure by activities (continued)
| Services to schools and academies Other Total 2024 |
Purchased services and materials 2024 £000 341 78 419 |
Support costs 2024 £000 52 11 63 |
Total funds 2024 £000 393 89 |
|---|---|---|---|
| 482 |
Analysis of support costs
Governance costs includes external audit fees of £10,000 (2024: £10,000) and legal and professional fees £Nil (2024: £2,000) .
11. Auditor's remuneration
| 2025 | 2024 | |
|---|---|---|
| £000 | £000 | |
| Fees payable to the DBE's auditor for the audit of the DBE's annual | ||
| accounts | 8 | 8 |
| Fees payable to the DBE's auditor in respect of: | ||
| All non-audit services not included above | 2 | 2 |
12. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2025 £000 268 23 30 321 |
2024 £000 233 19 25 |
|---|---|---|
| 277 |
Page 23
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. Staff costs (continued)
The average number of persons employed by the DBE during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Administration and support | 7 | 6 |
| The average headcount expressed as full-time equivalents was: | ||
| 2025 | 2024 | |
| No. | No. | |
| Administration and support | 7 | 6 |
| The number of employees whose employee benefits (excluding employer pension costs) | exceeded | |
| £60,000 was: | ||
| 2025 | 2024 | |
| No. | No. | |
| In the band £80,001 - £90,000 | - | 1 |
| In the band £90,001 - £100,000 | 1 | - |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
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 employer's national insurance and pension contributions was £120,467 (2024: £109,892) .
13. Trustees and volunteers
The DBE benefits from significant amounts of time contributed by unpaid DBE members (who are also Trustees) and other volunteers by their attendance at meetings and contribution to the strategic development of the DBE. The value of this time cannot be quantified and recognised in the financial statements of the DBE.
14. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 December 2025, expenses totalling £ Nil were reimbursed or paid directly to no Trustees (2024: £33 to 1 Trustee) . These expenses relates to claims made by Trustees for attending DBE meetings.
Page 24
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. Tangible fixed assets
| Cost or valuation At 1 January 2025 Additions Disposals At 31 December 2025 Depreciation At 1 January 2025 Charge for the year On disposals At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 |
Freehold land & buildings £000 410 - - 410 63 5 - 68 342 347 |
Office equipment £000 37 3 (33) 7 34 1 (33) 2 5 3 |
Total £000 447 3 (33) 417 97 6 (33) 70 347 350 |
|---|---|---|---|
All tangible fixed assets were used for direct charitable purposes.
Freehold land & buildings includes land of £153,000 which is not depreciated.
Page 25
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. Fixed asset investments
| Cost or valuation At 1 January 2025 Revaluations At 31 December 2025 |
Unlisted investments £000 6,965 (318) |
|---|---|
| 6,647 |
Investments are held primarily to provide an investment return. Unlisted investment consists of holdings in CBF Church of England Common Investment Funds managed by CCLA Investment Managers Ltd.
17. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2025 £000 17 72 89 |
2024 £000 5 72 |
|---|---|---|
| 77 |
18. Cash at bank and in hand
Cash and cash equivalents include short term deposits of £281,000 (2024: £281,000) and cash balances held as agent on behalf of Diocesan schools of £394,000 (2024: £715,000) .
Page 26
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
19. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Pension contributions Accruals and deferred income Balances held as agent on behalf of Diocesan schools |
2025 £000 27 8 3 43 394 475 |
2024 £000 4 10 3 44 715 |
|---|---|---|
| 776 |
20. Financial instruments
| 2025 | 2024 | |
|---|---|---|
| £000 | £000 | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 6,647 | 6,965 |
Financial assets measured at fair value through income and expenditure comprise listed and unlisted investments.
Page 27
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds General Funds - fixed assets Endowment funds s.554 Trust Capital Fund Restricted funds The Beacon Fund Cullham St Gabriel Grant s.554 Trust Income Fund REC Worldwide Total of funds |
Balance at 1 January 2025 £000 583 182 765 6,973 29 1 - 4 34 7,772 |
Income £000 281 - 281 - 5 - 205 - 210 491 |
Expenditure £000 (314) (3) (317) - (34) (1) (205) (4) (244) (561) |
Gains/ (Losses) £000 (3) - (3) (315) - - - - - (318) |
Balance at 31 December 2025 £000 547 179 |
|---|---|---|---|---|---|
| 726 | |||||
| 6,658 | |||||
| - - - - |
|||||
| - | |||||
| 7,384 |
Page 28
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. Statement of funds (continued)
Description of Funds:
s.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 (corporate) 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 statements. On 5 March 2014, the DBE members passed a resolution to manage the uniform 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 with 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 teacher's house for use in connection with any Church of England school in the Diocese of Coventry.
s.554 Trust Income Fund - Restricted
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 materials) in connection with any matter related to the management of, or education provided at, any Church of England school in the Diocese of Coventry.
(c) the provision of services for the carrying out of any inspection of any Church of England school in the area 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 Capital 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 mental 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 out of the Lucy Price designated fund.
Proceeds received in 2023 from the sale of a school house were designated to support the Beacon project and the iSingPop partnership. Phase two of the Beacon Project concluded in 2025 and the remaining funds have been used towards the ongoing iSingPop partnership.
Page 29
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. Statement of funds (continued)
Lucy Price Fund - Designated
This fund was established when the Lucy Price Wasperton Estate Charity made an unrestricted donation to the DBE of £515,000 upon its winding up and realisation of its assets 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 alternative provision in existing or new schools (including the Beacon Project).
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 Worldwide
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 it will inform the way that religious education is taught in the context of worldviews, a paradigm change in the way religious education is taught. Jennifer’s team is focusing on the theme of reconciliation, which lies at the heart of the mission of the Coventry Diocese.
General Fund
Unrestricted funds that are not held for any specific purpose are held in the General Fund.
Page 30
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Lucy Price Fund General funds General Funds Total Unrestricted funds Endowment funds s.554 Trust Capital Fund Restricted funds The Beacon Fund Cullham St Gabriel Grant s.554 Trust Income Fund REC Worldwide Westhill project Total of funds |
Balance at 1 January 2024 £000 202 456 658 6,735 - 1 152 4 - 157 7,550 |
Income £000 - 293 293 - 5 - 197 1 2 205 498 |
Expenditure £000 - (289) (289) - (39) - (193) (2) (2) (236) (525) |
Transfers in/out £000 (202) 301 99 (7) 63 - (156) 1 - (92) - |
Gains/ (Losses) £000 - 4 4 245 - - - - - - 249 |
Balance at 31 December 2024 £000 - |
|---|---|---|---|---|---|---|
| 765 | ||||||
| 765 | ||||||
| 6,973 | ||||||
| 29 1 - 4 - |
||||||
| 34 | ||||||
| 7,772 |
Page 31
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
22. Summary of funds
Summary of funds - current year
| General funds Endowment funds Restricted funds |
General funds Endowment funds Restricted funds |
Balance at 1 January 2025 £000 765 6,973 34 7,772 Income £000 - 293 - 205 498 |
Income £000 281 - 210 491 Expenditure £000 - (289) - (236) (525) |
Expenditure £000 (317) - (244) (561) Transfers in/out £000 (202) 301 (7) (92) - |
Gains/ (Losses) £000 (3) (315) - (318) Gains/ (Losses) £000 - 4 245 - 249 |
Balance at 31 December 2025 £000 726 6,658 - |
|---|---|---|---|---|---|---|
| 7,384 | ||||||
| Balance at 31 December 2024 £000 - 765 6,973 34 |
||||||
| Summary of funds - prior year | ||||||
| Designated funds General funds Endowment funds Restricted funds |
Balance at 1 January 2024 £000 202 456 6,735 157 7,550 |
|||||
| 7,772 |
Page 32
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
23. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £000 Tangible fixed assets 179 Fixed asset investments 157 Current assets 865 Creditors due within one year (475) Total 726 |
Endowment funds 2025 £000 168 6,490 - - 6,658 |
Total funds 2025 £000 347 6,647 865 (475) 7,384 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2024 £000 - 160 1,381 (776) 765 |
Restricted funds 2024 £000 182 - (148) - 34 |
Endowment funds 2024 £000 168 6,805 - - 6,973 |
Total funds 2024 £000 350 6,965 1,233 (776) 7,772 |
|---|---|---|---|---|
Page 33
COVENTRY DIOCESAN BOARD OF EDUCATION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
24. Pension commitments
The DBE participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered 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:
-
the 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 returns 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. The account, plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets 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 (2024: £24,000).
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 3% following improvements in the funding position 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 paying a share of the failed employer's pension liabilities.
Page 34
COVENTRY DIOCESAN BOARD OF EDUCATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
25. Operating lease commitments
At 31 December 2025 the DBE had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £000 | £000 | |||
| Not later than | 1 | year | - | 1 |
The following lease payments have been recognised as an expense in the Statement of financial activities:
| 2025 | 2024 | |
|---|---|---|
| £000 | £000 | |
| Operating lease rentals | 3 | 3 |
26. Related party transactions
Coventry Diocesan Board of Finance Ltd (CDBF) provided the DBE with grants of £177,000 (2024: £169,000) in the year towards the costs of the DBE’s charitable activities including its statutory obligations. No other goods and services were provided by the CDBF in the year (2024: £0) . The amount owing to the CDBF at 31 December 2025 in relation to transactions between the two parties was £0 (2024: £0) .
During the year Coventry Diocesan Board of Education was appointed as the corporate trustee of Blue Coat Charity (charity number 511793), whose funds are applied for the benefit of the Blue Coat Church of England School. The funds of £6,755 held on behalf of the Blue Coat Charity are shown in creditors.
The amount owing to the DBE at 31 December 2025 in relation to transactions between the two parties was £0 (2024: £0) .
The DBE made no payments to any Trustees in relation to claims for expenses for attending DBE meetings (2024: £0) . At 31 December 2025 there was an amount of £0 owed to a Trustee (2024: £0) .
Page 35