Company registration number: 05907308 Charity registration number.. 1116543 Religious Education Council of England and Wales (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 August 2024 RWB CA Limited Northgate House North Gale New Basford Nottingham NG7 7BQ
Religious Education Council of England and Wales Contents Reference and Administrative Details Trustees, Report 2to6 Independent Examiner's Report Statement of Financial Activities 8t09 Balance Sheet 10 Notes to the Financial Statements 11 to24
Religious Education Council of England and Wales Reference and Administrative Details Chair Sarah Lane Cawte Chief Executive Officer Andrew Nottage Secretary Deborah Weston OBE Charity Registration Number 1116543 Company Registration Number 05907308 The Charity is incorporated in England and Wales. Northgate House Northgate New Basford Nottingham NG7 7BQ RIVB CA Limited Northgate House North Gate New Basford Nottingham NG7 7BQ Blake Morgan LLP Apex Plaza Forbury Road Reading RGI IAX Registered Offiee Independent Examiner Solicitors: Bankers Lloyds TSB plc Cornmarket Street Oxford OXI 4AA Page I
Religious Education Council of England and Wales Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 31 Augusl 2024. Reference Administralive detgils Reference and administrative details are Showi on page l of the financial statements. Objective5 and #ctivities Th¢ Council'5 objectives are the advancement of ¢ducation ihrough the promotion of religious ¢du¢ation in schoo15 and places of further education and hier education. Each year the trustees review the Council's activities to ensure that they continue to reflect its objectives. In carrying out this review th¢ trustees have considered the Charity Commission's general guidance on public benefit and in particular ils supplemenlary guidance on the advancement of education for the public benefit. The Council works under a strat¢gi¢ plan that has been developed and approved by the trustees with the harilable objectives in mind. The strategic plan sets out the key aims for the Council's work. The Council's vision is for every young person to experience an academically rigorous and personally inspiring education in religions and non-religious worldviews. Being an organi5ation with diverse memb¢r5hip, the Council seeks to work in a way that embodie5 values of co-operation, ¢ollaboration, openness, integrity, mulual respect and critical engagement. Working with and through its member bodies, the Council seeks to: Be a clear national voice for the advocacy. support and improvemenl of RE • Promote the highest possible standards of RE in all schools, in all colleges and in teacher educalion Influence policy proactively with government and other national and intemational bodies Promote a positive public understanding of RE and its value to young people and wider society Represent at a strategic level the collective interest5 of its member bodies in relation to RE The Council's stralegic obje¢tives are.. l. To promole high quality teaching, leaming and assessment in RE 2. To influen¢e the development of publi¢ policy to encourage and support high quality RE 3. To enhan¢c public understanding of RE and its value to young people and wider society 4. To secure ¢ffective structures and operation for the Council 5. To se¢ure adequate and sustainable resources for the Council The Council's impact areas are: We will achieve our mission in 2021-2026 by.. l. Campaigning and advocating for high quality education in religion and worldviews 2. Building thriving relationships within the REC 3. Creating a fit for purpose and subslainable REC Page 2
Religious Education Council of England and Wales Trustees, Report Achievements and performance At each Board meeting time was spent analysing current issues relating to RE and RVE, deciding appropriate strategies for engaging Welsh Government. and HM Government in re5pe¢t of England, to promoting religious education, and to responding lo initiativ¢s which appeared lo be having negative consequences on RE and RVE. The organisalion was plea5¢d to complete a major, multi-year piece of work: the Religion and Worldviews Handbook and framework5. The work was launched and presented to the Council on 2nd May 2024 al the Council'5 AGM. The project primarily funded by The Templeton World Charitable Foundation, with support from Westhill Endowment Trust, took three years to Complete. The end product was a handbook delivering a guide for developing ncw curricula through a Religion and Worldviews Approach lo RE. It was accompanied by two exemplar frameworks and sets of resources. The Handbook had a wide impact and was downloaded 886 times by the end of the period to August '24. The RE Quality Mark continued to celebrate high quality RE in schools. The project had fewer schools undertake the award this year, however. those who undertook the award continued to see strong impact upon the quality of their RE. The award helps raise the profile of the subject in schools. Through the joint working group, the RE Policy Unit, the Council has campaigned for improvements in the subject. Thi5 included working with a PR ¢ompany to ensure article5 promoting ihe subject are made available in Ihe national press. and recruiling champions to speak about RE. We worked with a company, Politicomms, to arrange meetings with MP'S and government minist¢rs. During the year. REPU ran a successful REady for Work campaign with Lord Billimoria. This campaign highlighted ihe value of the subject for ihe workplace and for pupils. future careers The Council hosted webinars for member organisations. These included a webinar connecting teachers and univer5iti¢s, with TRS UK, and a webinar on the Religion and Worldview5 Handbook. The Council adopted a National Content Standard for RE in England (NCS). This is aimed at lackling the problem of inconsistent standards in RE. by providing a benchmark for the standard RE content. The NCS has been endorsed by a number of RE Council member organi5ations and academy trusts. it highlights areas of consensus within ihe RE profession Page 3
Religious Education Council of England and Wales Trustees, Report Financial review During the year. Ihe Board monitored the Council's financial position and discussed proposals for sustaining the work and profile of the Council in challenging financial circumstance5. Budgels and financial reports were pres¢nted to the Board to ensure trustees were fully aware of the Council's financial position and proposals were discussed for suslaining ihe work and profile of the Council into the future. In tem]s of ndIng core costs, the Council has enjoyed continuing support from a range of funders. A calculated percentage contribution to core costs of typically between IOD/o and 200/0 is made from all funded projects. Expenditure from all grants received during the year continues lo be carefully monitored and has Come within budget. Regular reports were made to the grant providers. As at year end, total reserve5 were £226,105 out of which £27.191 were in restricted funds and £198.914 were avaiable as free reserves. Policy on reserves The Reserves Policy was increased to £IOO.000 for the year. This was due to Concerns the Religion and Worldviews Handbook project's funding may be impacted by exchange rates; these concems did not materialis¢. The reserves policy also covered notice periods required for staff. contractual obligations and a legal fe¢ contingency. Trustees and officers The trusle¢s and officers serving during the year and since the year end were as follows.. Trustees.. Sarah Lane Cawte (Chair) Edward Pawson (Deputy Chair) (resigned 31 August 2024) Rosemary Rivett (Treasurer) Deborah Weston OBE Aliya Azam (appointed I September 2023) Sandra Teacher (resigned 31 August 2024) Philip Robinson Dr Kathryn Wright Paul Smalley Kathy Riddi¢k Dr Celin¢ Benoit Ramesh Pattni (resigned 20 October 2023) Dr Sheila Jeanne Gewolb (&ppoinled 18 November 2023) Elizabeth Anne Jones (appointed 16 November 2023) Tanuja Shukla (appointed I September 20241 Caroline Alice Aldenon (appointed I September 2024) Dr Richard lan Kueh (appointed 18 October 2024) Chief Executive Ol¢Cr.. Andrew Nottage Secretary: Deborah Weston OBE Page 4
Religious Education Council of England and Wales Trustees, Report Structure? governance and management The Religious Education Council of England and Wales is a charitable company limited by guarantee. The Council was established under a Memorandum of Asso¢ialion which established ihe objects and powers of the charilable company and is governed by its Articles of Association. The charity trustees are responsible for the general control and managemenl of the organisation. The Religious Education Council is a membership organisation. Each member organisation is entitled to nominate up to three authorised representatives. Authorised representatives are able to aitend General Meetings, vote at them, and are the main point of contact between the Religious Education Council and its memb¢rs. Authorised representatives are eligible to stand for election to the Board. Each member organisation can cast one set of voles for candidates for the Board. and on applications that the Board has approved from organisations wishing lo join the Religious Education Council. Meetings of the Board were held throughout the year. At each meeting the Chair gave a report of her activities on behalf of the Council. Board me¢ting5 fully scrulinised the work undertaken by the Council. including the work of the Committees. At each Board meeting, the Execulive Officer presented a report detailing the work of the Council since the previous Board meeting. The SRGM was held on 16th November 2023 online (via Zoom), which provided an opportunity to update and consult with all Council members since the AGM. There was an election of a new member to the Board, who took up their position on 1st December 2023. The AGM was held on 2nd May 2024 at the Lumen Centre. London. This provided an opportunity to updale and onsuli with all Council members since the previous SRGM. There were elections to the Board including the re-election of the Chair and Company Secretary. election of a new Deputy Chair, re-election of ihree board members, and election of two new board member5. They were elected to take up their posltions from 1st September 2024. The REC maintained five standing committees. established by the Board, in order to provide guidance to Ihe Board in specified areas: the Governance Conimittee, the Finan¢¢ Committee, the Fundraising committee, the Member Engagement Committee, and the Worldviews Liaison Committee. The Worldviews Liaison Committee closed in May 2024 once the Worldviews project wa5 completed. In addition. there was a joint working group, the RE Policy Unit, that comprises representatives from the REC as well as members selected by the National Association of Teachers of RE (NATRE) and RE Today. Thi5 joint RE Policy Unil is governed by a Memorandum of Understanding agreed between the three organisalions. There were also regular oific¢r5' meetings to follow up policy decisions taken by the Board and to discuss operational issues. These meetings were attended by the Council's Executive Officer for the day to day running of the Council. Pag¢ 5
Religious Education Council of England and Wales Trustees, Report Statement of trustees, respon5ibiliti¢s The trustee5 (who are also the directors of Religious Education Council of England and Wales 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 Siandards (United Kingdom Generally Accepted Accounting Praclice), including FRS 102 "The Finanrial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees lo prepare fin3n¢i21 statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satlsfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming r¢sour¢¢s and application of resour¢e5. including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to= select suitable accounting policies and apply them consistently; observe the methods and principles in ihe Charities SORP. make judgements and estimates that are reasonable and prudenl; state wheiher applicable accounting standards. comprising FRS 102 have been followed. subject to any material departures disclosed and explained in ihe financial stalements. and prepar¢ the financial statements on the going concern basis unless it is inappropriat¢ to presume that the charitable company will continue in business. The truslees are responsible for keeping proper accounling records that can disclose with reasonable accuracy at any time the financial position of ihe charitable company and enable them to ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charitable ¢ompany and hence for taking reasonable steps for th¢ prevention and detection of fraud and other irregularities. The Iruslees are responsible for the maintenance and integrity of the corporate and financial inforniation included on the charitable Company's website. Legislation governing the preparation and di55¢mination of financial statements may differ from legislalion in other juri5di¢tions. Small company provisions This report has been preparred in accordance with the small companies regime under the Companies Act 2006. The annual report Was approved by the trustees of the Charity on l May 2025 and signed on its behalf by.. Sarah Lane Cawte Chairnian Page 6
Religious Education Council of England and Wales Independent Examiner's Report to the trustees of Religious Edueation Council of England and Wales {'the Company,) I report to the Charity trus*es on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities And basis of report A5 the Charity's trustees of ihe Company (and also its d1ClOr$ for the purposes of company law) you are responsible for thc preparation of the accounts in accordancc with the requirements of thc Companies Act 2006 ('th¢ 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination ot your Charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Direciions given by the Charity Comrnission under section 145{5)(b) of ihe 2011 Act. Independent examiner's statement I have complctcd my examination. I confirn1 that no matters have come to my attention in connection with the examination giving me causc to believe.. accounting records We not kept in respect of Religious Education Council of England and Wales as required by seclton 386 of the 2006 Act- or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of ihe 2006 Acl other than any requirement that the accounls give a 'true and fair view which is not a matter considered as part of an independent examination,. or 4. the accounts have not bc¢n prepared in accordance with the methods and principles of the Statement of Recommcnded Practice for accounting and reporting by charitics lapplicable to chxrilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in uonneLtion with the examination to which atiention should bc draw this report in order to enable a proper underslanding of the accounts to bc reached. Neil Cou CA DChA The Institute of Chartered Accountants of England and Wales Northgate House North Gate New Bdsford Nottingham NG7 7BQ l May 2025 Page 7
Religious Education Council of England and Wales Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Investment income Other income 50.750 39.087 6,406 149 72.906 123,656 39,087 6.406 149 Total income 96.392 72,906 169,298 Expenditure on: Charitable activities (93,502) (108,241) (201,743) Total expenditure (93,502) (108,241) (201,74J) Net in¢om¢/(¢xpenditure) Transfers between funds 2,890 14.700 (35.335) (14,700) ()2.445) Net movement in funds 17.590 (50.035) (32,445) Reconciliation of funds Total funds brought forward 181,324 77,226 258,550 Total funds carried fonvard 18 198,914 27,191 226,105 Th¢ notes on pages I I to 24 forni an integral part of these financial statements. Page 8
Religious Education Council of England and Wales Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restrieted funds Total 2023 Note Income and Endoivments from: Donations and legacies Charitable activities Investment income Other income 63,685 45.363 1,391 150) 82,247 145,932 45.363 1,391 (150) Total income 110.289 82,247 192.536 Expenditure on: Charitable aclivities (91.257) (109,630) (200,887) Total expenditure (91.257) 109,630) (200,887) Net income/(expenditure) 19,032 (27,383) (8.351) Net movement in ndS 19,032 (27,383) (8,351) Reconeiliation of funds Total funds brought forward 162.292 104,609 266.901 Total funds carried forward 18 181,324 77,226 258,550 All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 18. The notes on pages I I to 24 forni an integral part of these financial statements. Page 9
Religious Education Council of England and Wales (Registration number: 05907308) Balance Sheet as at 31 August 2024 2024 2023 Note Current ossets Debiors Cash at bank and in hand 14 15 3,465 245,002 6,670 273,650 248,467 280,320 Creditors: Amounts falling due within one year 16 (22,362) (21.770) Net assets 226,105 258,550 Funds of the Charity: Restricted income funds Restri¢ted funds 27,191 77.226 Unrestricted income lunds Unrestricled funds 198,914 181,324 Total funds 18 226,105 258,550 For the financial year ending 31 August 2024 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the Charity to obtain an audit of its accounts for the year in queslion in accordan¢e with section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statemenls on pages 8 to 24 were approved by the trustees, and authorised for issue on l May 2025 and signed on their behalf by.. Sarah Lane CaW(e Chaimian The notes on pages I I to 24 forn] an inlegral part of these financial ststements. Page 10
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 I Charity status The Charity is limited by guarantee, incorporated in England and Wales, and consequently does noi have share ¢apilal. Each of the trustees is liable to conlribute an amount not exceeding £1 O toward5 Ihe assets of the Charity in the event of liquidation. The address of its registered office is= Northgate House Northgate New Basford Nottingham NG7 7BQ These financial statements were authorised for issue by the trustees on l May 2025. 2 Aeeounting policies Symmary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied ty all the years presented. unless otherwise stated. Statement ofcompliance The financial statcments have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Companies Act 2006. Basis of preparation Religious Educalion Council of England and Wales meets the definition of a public benefit entity under FRS 102. Asset5 and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant arcounting policy notes. Going concern The trustees ¢onsider that there are no material un¢ertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Charity. EJ¢mption from preparing a cash flow statement The Charity opted to early adopt Bulletin I published on 2 February 2016 and have iherefore not included a cash flow stalem¢nt in Ihese financial statements. Income And endowments All income is recognised once the Charity has enliil¢m¢nt to the income, li is probable that the in¢ome will be rcccivcd and the amount of the income receivablc can be measured reliably. Page 11
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 Donations and legocies Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subjecl lo ¢onditions that require a level of performance by the Charity before the Charity is entitled to the funds, the in¢ome is deferred and not recognised until either those conditions are fully met, or the fulfilment of those ¢onditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in Ihe reporting period. Grants receivable Grants are recognised when the Chariry has an entitlement to ihe funds and any Conditions linked to the grants have been met. Where p¢rformance condition5 are attached to the grant and are yet to be met. the income is recognised as a liability and included on the balance sheet as deferred income to be released. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Su¢h income is only deferred when.. The donor specifies that the grant or donation must only be used in future accounting periods- or The donor has imposed conditions which must be met before the Charity has unconditional entitlement. Investment income Dividends are recognised once the dividend ha5 b¢¢n declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is & l¢gal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All cosls ar¢ allocated to the applicable expenditure heading that aggregate similar costs to that category. Where ¢osts cannot be directly attributed lo particular headings they have been allocated on a basi5 consistent with the use of resources. with central staff osts alloc&ted on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on ihe spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of it5 activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to SUPPOrt them. Granl provi¥ions Provisions for grants are made when ihe intention to make a grant has been communicated to the recipient but there is un¢¢rtainty about either the timing of the grant or the amount of grant Payable. GovernAnee costs These include the costs attributable to the Charity's compliance with constitutional and slatutory requirements. including audil, strategic management and trustees meelings and reimbursed expenses. Page 12
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 Taxation The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. A¢¢ordingly, the Charity is potentially exempt from taxalion in respect of income or capital gains received within categories ¢overed by Chapter 3 Part I l of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to ihe extent that such income or gains ar¢ applied exclusively t() charitable purposes. Trade debtors Trdde debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of busines5. Trade debtors are recognised initially at ihe transaction price. A provision for the impairnient of trade debtors is established when there is objective evidence that the charity will noi be able to collect all amounts due according to the original ternis of the re¢¢ivables. Trade ereditors Trade credilors are obligations to pay for goods or services thai have been acquired in the ordinary course of business from suppliers. Accounis payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the credilor for at least twelv¢ months after the r¢porting date. If there is an uncondilion&l right lo defer settlement for at least twelve months after the reporting date. they are presented as non-current liabilities. Trade credilors are recognised initially at the tran58Ction price. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in fvrtherance of Ihe objectives of the ChLty. Designated funds are unrestricted funds set aside for sperific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to thal area or purpose. Pensions and other post retirement obligations The Charity operates a defined contribution pension scheme which 15 a pension plan under which fixed contribution5 are paid into a pension fund and the Charity has no legal or constructive obligation to pay further contributions even if the fund doe5 not hold suificient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defin¢d contribution plans are recognis¢d in the Statemenl of Financial Activilie5 when they are due. If contribution payments exceed the contribution du¢ for service. th¢ ¢x¢ess is recognised &8 a prepayment. Page 13
Religious Education Council of England and Wales Iyotes to the Financial Statements for the Year Ended 31 August 2024 3 Ineome from donatlODS aDd leggcies Unrestricted funds General Restricted funds Total 2024 Donations and legacies. Donations from individua15 Grants, including capital grants. Grants from other charities 750 750 50,000 72,906 122,906 50.750 72,906 123,656 Unrestricted funds General Restricted fund5 Total 2023 Donations and legacies. Donations from individuals Grants. including capital grants. Grants from other Charities 885 885 62.800 82,247 145,047 63,685 82,247 145,932 Page 14
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 4 Income from eharitable activities Vnrestrieted funds DesignAted General Total 2024 RE Counril RE Quality Mark 15,687 15,687 23,400 23.400 23.400 15,687 39,087 Unrestricted funds Designated General Total 2023 RE Council RE Quality Mark 16,093 16.093 29,270 29,270 29,270 16,093 45,363 S Investment income Unrestricted funds GenerAI Total funds Interest receivable and similar income. Interest receivable on bank deposits 6,406 6,406 TotAI for 2024 6,406 6,406 Total for 2023 1,391 1.391 6 Other income Unrestricted funds Gener81 Total funds Fees and supplies 149 149 Total for 2024 149 149 Total for 2023 (150} (150) 7 Resources received from non-exchange transactions by * publie benefJ¢ enlity or entity within a public benefit group Culham St Gabriel's Trust Donated services to manag¢ the RE Teach¢r Re¢ruitm¢nt project. Page 15
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 8 Expenditure on charitable activities Unrestricted funds Designated General Restricted fund5 Total 2024 Publicity costs Project delivery Employment costs Establishment costs Grants paid Office expenses Travel and sub5lStence Bank charges 132 20,960 532 394 56.386 1,320 1.573 96,675 2,237 118,029 56,386 1,320 9,750 3,496 3,349 106 9,750 3,496 1,722 106 1,384 243 22,476 108,241 194,673 Unrestricted funds Designated Gener81 Restrieted funds Total 2023 Publicity costs Project delivery Employment costs Establishment costs Grants paid Office expenses Sundry costs Travel and subsistence Bank charges Other interesl payable 1,500 20.380 1,954 6,446 50,753 1,202 4,888 93,565 8,342 120,391 50,753 ,202 8,250 1,652 914 5,156 96 8,250 1,652 914 1.634 96 595 2.927 22,475 64,702 109,630 196,807 Activily undertaken directly Total expenditure Total for 2023 196,807 196,807 In addition to the expenditure analysed above, there are also governance costs of £7.070 (2023 £4.080) which relate directly to charitable activilies. See note 9 for further details. Page 16
Religious Education Council of England And Wales Notes to the Financial Statements for the Year Ended 31 August 2024 9 Analysis of governance and support costs Governance costs Unrestricted funds General Total 2024 Independent examiner fees Examination of the financial ststements Legal fees 4.260 2,810 4.260 2,810 7,070 7,070 Unrestricted funds General Total 2023 Independenl examiner fees Examination of the financial statements 4.080 4,080 4,080 4,080 10 Trustees remuneration and expenses 6 (2023- 7) trustees received reimbursed travel and general expenses of £l,I 10 (2023- £1.069). Page 17
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 I I Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 53,901 48.382 154 2,217 2,485 56,386 50,753 The monthly average number of persons (including Senior management I leadership team} employed by the Charity during the year expressed as full lim¢ equivalents was as follows.. 2024 2023 Administration 2 (2023 - 2) of the above employees participated in the Defined Contribution Pension Schemes. No employee received emoluments of more than £60.000 during the year. 12 Independent exAminer's remuneration 2024 2023 Examination of the financial statements 4,260 4,080 13 Taxation The Charity is a registered charity and is therefore exempt from taxation. 14 Debtors 2024 2023 Trade debtors Prepayments 3,465 1,700 4,970 3,465 6,670 Page 18
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 15 Cash and cash equivalents 2024 2023 Cash at bank Short-term deposils 19,480 225.522 22,108 251,542 245,002 273,650 16 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Pension scheme creditor Accruals Deferred income 6,000 i io 1,309 4,668 10,275 2.760 1,316 1.718 4,101 11,875 22.362 2024 21,770 2023 Deferred income at I September 2023 Resourc¢s d¢f¢rred in the period Amounis released from previous periods 11,875 10.275 (11.875) 54,139 11,875 {54.139) Deferred income al year end 10,275 11,875 17 Pension and oiher schemes Defined eontribution pension seheme The Charity operates a defined contribution pension scheme. The pension cost ¢harge for the year repre5¢nts contributions payable by ihe Charity to the scheme and amounted to £2.485 (2023 - £2,217). Page 19
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 18 Funds Balance at I September 2023 Balance at 31 August 2024 Incoming resources Resources expended Transfers Unrestricted General Unrestricted income fund 168,284 72,992 (71,026) 14.700 184,950 Designaled RE Quality Mark 13,040 23.400 (22,476) 13,964 Total Unrestricted 181,324 96.392 (93,502) 14,700 198,914 Restricted RE PR Commiltee REPU Worldviews Project I (Templeton) Worldviews Project 2 (Templeton) Member Engagment 2.768 41.607 2,768 14.423 48,333 (71.017) (4,500) 7,500 (1,400) (3,100) 3,000 25.351 17,573 7,000 (35,824) (7.100) 7,000 TotAI restricted 77,226 72,906 (108.241) (14.700) 27,191 Total funds 258.550 169,298 (201,743) 226.105 Page 20
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 Balance at I September 2022 IncomiDg resources Resources expended Balance at 31 August 2023 Unrestrieted funds General Unrestricted income fund 156.047 81.019 (68.782) 168,284 Designaled RE Quality Mark 6,245 29,270 22,475) 13,040 Total unrestricted funds 162,292 110.289 91,257) 181,324 Restricted RE PR Committee REPU Worldviews Project I (Templelon) Worldviews Project 2 (Templeton) 3,848 58,205 (1,080) (49.931) 2,768 41,607 33.333 23.200 (15,700) 7,500 19,356 48,914 (42,919) 25,351 Total restricted funds 104,609 82.247 (109,630) 77.226 Total funds 266,901 192,536 (200,887) 258,550 Page21
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 The specific purposes for which the funds are to b¢ applied are &8 follows: The RE PR Fund is used to promote a positive public image for Religious Education and for the RE Council. This is a resti¢ted fund. The RE Quality Mark project designed, piloted and established a national scheme to recognise quality RE teaching in schools. It became a charitable trading activity of the RE Council in November 2014. trading a¢tivity is managed through a designated fund. From time-to-time grants are received for specific purposes and these are managed through separate REQM restricted fund(s). The RE Policy Unit (formerly PR Group Joint) is a collaborative projeci between RE Council, NATRE and RE Today. It has three objectives- to enhance public understanding of RE and its value to young people and wider society, lo raise the status of RE with Head Teachers, Senior Leaders and Sehool Governors and to influence the development of public poli¢y to encourage and support high quality RE. It is grant funded and lh¢ grants are managed in a r¢stri¢ted fund. Worldviews Project. The Worldviews Project consists of two overlapping and complementary streams of work. The first stream of work runs through financial years 201912022 and the second runs through 202112024. The project is building on the recommendations of the Commission on RE'S {CoRE) report of 2018 and is working on a new vision for Religious Education in schools designed to reflect pupils, lived experience of religious and non-religious perspeclive5. It is grant funded and the grants are managed through a restricted fund. The Templeton World Charity Foundation (TWCF) made a grant to the RE Council of in March 2021 for a 3-y¢ar project (ending in early 2024). This grant is apportioned equally across th¢ financial years. The grant supports a project to be delivered in partnership with RE Today who have been contracted as the main provider of writing and project management throughout the project. Further partners have been contracted by the RE Council in 2022 to deliver further project elements in 2022-2024. These partners are Inspiration Trust, Lincoln Diocesan Board of Education, Coventy DBE, Coventry SACRE. and Warwickshire SACRE. The trustees have noted thal the TWCF grant includes a value held back by TWCF until the RE Council successfully delivers defined elements al the end of th¢ project. The value of this is $22,865.10 and will be paid in US dollars, so willbe subject to exchange rate changes. The project is planned with a contingency in the budget to allow for Ihese possible rate variation5. The Member Engagement Fund is a l-year grdnt from Sarum St. Michel Educational Trust. This is lo cover l-year of a member engagement worker's salary for I day a week during financial year 2024-2025. Page 22
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 19 Analysis of net assets between funds Total funds at 31 August 2024 Unrestricted funds General Designated Restricted funds Current assets Current liabilities 191.037 {6,087) 24,239 10.275) 33,191 (6,000) 248,467 (22,362) Total net assets 184.950 13,964 27,191 226,105 Total funds at 31 August 2023 Unrestricted funds General Designated Restricted funds Current assels Current liabilities 191,219 (9,895) 11.875 (11,875) 77.226 280,320 (21,770) Total net 8ssets 181,324 77,226 258.550 20 Related party transgctions During the year the Charity made the following relaled party transactions.. Deborah Weston {Truslee of the charity) Meeting and Iravel expenses totalling £43 {2023.. £133) were reimbursed during the year. At the balance sheet date the amount due to/from Deborah Weston was £Nil (2023 - £Nil). Sarah Lane Caivte (Trustee and chair of the Charity) Travel expenses and venue hire costs totalling £123 (2023: £197) were reimbursed during the year. At the balance sheet date the amount due tolfrom Sarah Lane Cawte was £Nil (2023 - £Nil). Edward PAWSOII (Trust¢e of the charity) M¢¢ting and travel expenses totalling £353 (2023.. £97} were r¢imbursed during the year. At the balance sheet date the amount due tolfrom Edward Pawson was £Nil (2023 - £Nil). Patricia Hannam (Trustee of the charity until 31 August 202)) Travel expenses costs lotalling £Nil (2023: £126) were reimbursed during the year. At the balance sheet date the amount due lolfrom Patricia Hannam was £Nil (2023 - £Nil). Rosemary Rivett (Trustee of th¢ charity) Travel expenses costs lotalling £48 {2023.. £49) were reimbursed during ihe year. At the balance sheet dat¢ the amount due tolfrom Rosemary Rivett was £Nil (2023 - £Nil). Kathy Riddiek (Trustee of the charity) Travel exp¢ns¢s costs totalling £Nil (2023: £151) w¢r¢ r¢imbursed during th¢ year. At the balance sheet dat¢ th¢ amount due tolfrom Kathy Riddick was £Nil (2023 - £Nil). Page 23
Religious Education Council of England and Wales Notes to the Financial Statements for the Year Ended 31 August 2024 Paul Smalley (Trustee of the ¢harity) Travel expenses cos15 totalling £458 (2023.. £316) were reimbursed during the year. At the balan¢e sheet date the amount due to/from Paul Smalley was £Nil {2023 - £Nil). Dr Celine Benoit (Trustee of the chariry) Trdvel expense cols totalling £85 (2023.. £Nil) were reimbursed during the year.. At the balance sheet date the amount due tolfrom Dr Celine Benoit was £Nil (2023 - £Nil). Page 24