ODBE
Oxford Diocesan
Board of Education
Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the year ended 31 December 2021
Company limited by guarantee (No. 07071809 England and Wales)
Registered charity (No. 1133586)
Registered & Principal Office..
Church House Oxford
Langford Locks
Kidlington
Oxford
OX5 IGF

Oxford Dlocesan Board of Education
Dtrectors, Report and Financial Statements
For the Year Ended 31 December 2021
Table of Contents
Page
Director5, Annual Report
Objectives and Artivities
Achievements and Performance
Future Plans
Financial Review
Structure, Governance and Management
Principal Risks and Uncertainties
Reference and Administrative Details
io
12
Independent Auditorfs Report
14
Statement of Financial Activities
19
Income and Expenditure Account
Balance Sheet
21
22
Statement of Cash Flows
23
Notes to the Financial Statements
24
CE
CBF
CCLA
CSUST
DfE
DFC
DTIOIL
Church of England
Central Board of Finance of the Church of England
CCLA Investment Management Limited
Church Schools Uniform Statutory Trust
Department for Education
Devolved Formula Capital
Diocesan Trustees (Oxford) Limited
Local Authority
Locally Co-ordinated VoluntaryAided Programffle
Multi Academy Trust
Oxford Diocesan Board of Education
Oxford Diocesan Board of Finance
Oxford Diocesan Bucks Schools Trust
Oxford Diocesan Education Services Limited
Oxford Diocesan Schools Trust
Office for Standards in Education
Standing Advisory Council on Religious Education
Statutory Inspection of Anglican and Methodist Schools
Service Level Agreement
Senior Leadership Team
Statement of Financial Activltles
Voluntary Aided Schools Condition Allocation
LCVAP
MAT
ODBE
ODBF
ODBST
ODES
ODST
Ofsted
SACRE
SIAMS
SLA
SLT
SOFA
VASCA

Oxford Dlocesan Board of Educatlon
Dirertors. Report and Financial Statements
For the Year Ended 31 December 2021
DIREcfoRS' ANNUAL REPORT
The directors, who are also trustees for the purposes of charity law, present their annual report.
together with the audited financial statements, for the year ended 31 December 2021.
OBJECTIVES AND AcfiviTIES
Background
The Charity exists to fulfil the statutory duties of the Diocese of Oxford for the education of children,
as updated by the Diocesan Boards of Education Measure 2021 and it currently advises and assists 284
schools and academies, educating 60.(￿) children and young people. There have been schools in the
diocese run by the Church for many hundreds of years, whose trusts were established to provide
education, usually for the poor of the parish, with teaching in accordance with the principles of the
Church of England. From 1833 onwardsthe government began to provide fundingto supportthis work
and. in 1870, Parliament allowed for the establishment of board and later county schools to provide
free education. The 1944 Education Act brought into legislation the dual system of church and state
working together in education which the work of this Charity enables and supports. Further changes
to legislation in the 2010 Academies Act and the 2011 Education Act bring fresh challenges and
accountabilities. The Charity now also works with its academies, as well as the voluntary controlled
and voluntary aided schools, to provide advice and in the maintenance and development of a
distinctively Christian ethos in schools which remain inclusive and are intended to seNe thelr local
community.
Objertlves
The Charity continues to achieve its objectives by offering pastoral and professional support to its
schools and pupils.
The functions of the Charity are set out in the Diocesan Boards of Education Measure 2021, which is
the Charitws governing document. The Charity, therefore, is responsible for promoting and assisting:
Education in the diocese consistent with the faith and practice of the Church of England;
Religious education and worship in schools.
Activities
The Charity advises governors of church schools, trustees of church educational endowments and any
other body or person concerned on any matter affecting church schools in the diocese and additionally
takes opportunities to serve all schools in church-led Multi Academy Trusts and specifically..
Gives advice in relation to any proposed changes to the status. viability and future of all church
schools (including significant changesl:
Approves all new building. alterations and refurbishment to Church School buildings-
Gives advice to the trustees of Church of England education trusts before any changes are made
to their trust property or governing documents Itru5t deed, Charity Commission scheme, etcl;
Appoints and 5UPPOrts Foundation governors for all church 5chools-

Oxford Diocesan Board of Educatlon
Directors, Report and Financial Statements
Forthe Year Ended 31 December 2021
OBJEcfivES AND ACTIVITIES (Convd)
Improves the effectiveness of diocesan schools by providing services to support school
improvement, professional development of teachers, training for staff and govemors.
professional advice and pastoral care,.
Advises and 5UPPOrts governing bodies on the appointment of Headteachers and senior staff,.
Receives and considers the reports of all formal inspections (Ofsted and SIAMS) at all church
schools, which are required to be carried out under the Education Act 2IXI5,' and
Acts as managing trustee of two trusts;
Act as the site trustees in 80 schools.
Publlc benefit
The directors have complied with section 4 of the 2011 Charities Act having due regard to guidance
published by the Charity Commission. The directors are aware of the Charity Commission's
requirement that the aims, objectives and activities of the charity should provide a clear public
benefit. Through the achievement of these objectives Set out above. the public benefits from the
provision of inclusive church schools for 60,OJO pupils and the advisory services of ODBE to the staff
and governors of these schools.
Grant making policy
The charlty make5 grant payments as m3na8ing trustee in accordance with the terms of each trust.
ACHIEVEMENTS AND PERFORMANCE
Working with Multi-Academy Trusts
The number of academy conversions has reduced in recent years. but ODBE is still getting 3 few schools
who are making a positive choice to join a MAT as well as a small number of schools which are required
to Join a MAT. The two diocesan MATS supported by ODBE have continued to grow. ODST now
comprises 41 academies and ODBST is made up of 12 with more in the pipeline. Four ofthe academy
trusts which ODBE work with have pooled their SLA capital allocations together and ODBE manages
this programme for them. The last few months have started to see an increased interest in
academisation.
ODBE continues to provide support services to schools to assist them in delivering the best possible
outcomes. This ranges from appointing approximately I,CO) governors across ODBE'S Schools and
academies lincluding 20 multi-academy trusts)- advising on admission policies at 170 schools,-
organising independent admi55ion appeals for governing bodies: assisting the site trustees with
various property matters and organising building work at voluntary aided schools and some academies
ranging from small maintenance projects to large scale extension and refurbishment5, including the
planning of completely new schools.
During the year the number of schools where ODBE is the site trustee increased to 80 followlng a
charity commission scheme and due to school Sites being registered for the first time.

Oxford Di0￿san Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
ACHIEVEMENTS AND PERFORMANCE (Convd)
New Schools
Windrush CE Primary School in Witney opened in September 2021 as part of the River Learning Trust.
Currently working with nursery and foundation stage classes, the school is built on its vision to "Learn.
Love and Live"
based on John IO'.10. Windrush and Alder Grove CE Primary in Wokingham both held
opening ceremonies in October 2021 attended by representatives of ODBE.
School Effectiveness
The School Adviser team continued to support schools across the Diocese through a combination of in-
person visit5 and remote contact. Ofsted inspections resumed, and there were twelve inspections in
the Autumn term. Inspections were rigorous and challenging: but two schools improved from Requiring
Improvement to Good. Just before Christmas 2021 Waddesdon CE Secondary received a new
Outstanding judgement which is a significant achievement for the school. SIAMS inspections have been
fewer with four taking place across the Diocese since September 2021- all schools inspected received
'Good' outcomes.
Strategic Vision
The advent of Covid-19 required a significant rethink and recalibration for the changed world.
Therefore. in September 2020 ODBE reshaped its strategic vision to focus on a set of medium-term
strategic priority areas. These drew upon the previous three-year strategy and provided a transition
into the 2022-2025 strategy for the new triennium.
Current Impart of Covid-19
Clearly the Coronavirus pandemic had a significant impact upon the work of ODBE and actions were
undertaken to mitigate this. Schools, funding has not been affected and the DfE has continued to
instruct schools to continue to make payments to suppliers.
The organisation took account of its staffing needs over the course of the pandemic. ODBE identified
significant opportunities for reducing expenditure particularly through the reduction of staff expenses
to zero during the lockdown periods.
ODBE established a business continuity plan for the duration of the lockdown in order to maintain
productivlty and maximlse the opportunity to realise projects with the additional time available.
The recovery from Covid-19 has been managed through a phased return to in-person events whilst
continued and 5UStained use was made of electronic technology to deliver training and engagement.

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December2021
FUTURE PLANS
ODBE'S mission is rooted in the values that it has at its core of Humility, Fellowship and Counsel.
These values remain unchanged by local and national contexts. However, the events of the past two
years have established the need to be bold but also pragmatic in thinking and activities. Through
establishing a strategy for the new triennium, ODBE seeks to blend vision and pragmatism with the
key to planning the aspiration to be 'A flourishing organisation delivering a unique service to
education by shaping and influencing the future,. By articulating what this 'unique service, is ODBE
seeks to identify what it is that only ODBE can provide to education or is better placed to provide
than any other organisation. In responding to the opportunities and challenges of our times ODBE
has identified and expressed its role and purpose in four specific commitments..
Championlng the needs of chlldren and young people- This Is paramount in Its misslon wlthin the
Dlocese of Oxford
Confronting climate emergency- This is the critlcal challenge faclng the planet and will contlnue to
beso
Challenging inequality- Thls Is fundamental to how to make a dlfference to the lives and Ilfe
chances of members of our communlties
Advocating the role of the Church of England in educatlon- Thls Is at the roots of ODBE'S
foundation 35 a Dlocesan Board of Education
These commitments underpin and shape the actions within each of the twelve key workstreams.
These workstream5 are anchored to the 'unique service, and are as follows..
Church School Effectlveness, Religious Education, Collettive Worshlp and Spirituallty, Governance.
SIAMS, Admissions and Appeals, Property Servlces, MAT Support, Leadership. Wellbeing and
Pastoral Suppor¢ Chaplalncy and Partnership.
Each workstream has a detailed statement of intent that articulates the ambition and rationale
behind it. The specific workplan for each of the three years of the triennium within the workstream is
compiled on a yearly basis wlth each annual plan building upon its predecessor. Individual workplans
and appraisal targets are informed by the strategy. The strategy and its attendant plans came into
being in January 2022.

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 31 December 2021
FINANCIAL REVIEW
General Funds
Overall total unrestricted income was £1,660K. with a surplus of £116K17%1 on general funds for the
year12020.' surplus £48KI. Grant unrestricted income from CSUST totalled £438K for the year12020'.
£444KI and grant income from ODBF totalled £382K12020'. £382KI, 26% and 23% of total unrestricted
income respectively.
Income from charitable activities included school service agreement income of £269K116%112020:
£227KI, training and consultancy income of £133K18%1 {2020'. £164KI, premises related income of
£401K124%112020: £315KI and admissions appeals income of £36K12%112020- £44KI.
Costs have been attributed to three categories of support for schools, with staff and overhead costs
apportioned between these categories.
Restricted Funds- Building Improvement Scheme
A significant proportion of restricted f unding income came from grants: the DfE totalled £3,235K for
the year12020: £3,717KI, CSUST totalled £89K12020.. £87KI. No grant was made from the Thatcham
and Newbury restricted trust funds in 2021 {2020'. nill, no grant from the Hills Bequest Fund12020'.
none) and no grant from the Buildings improvement. £15K from Bayne Benefaction Grant12020:
none). The balance remaining on the income restricted funds at 31 December 2021 was £1,752K
12020: £1.906KI.
Historically the board acted as the agent of school governors in relation to school buildin8 works and
the purchase of IT equipment for Schools. It acted as the agent of school governors in helping to
arrange funding through the DfE and Local Authorities and in paying professional fees and building
costs on behalf of school governors. The VASCA IVoluntary-Aided Schools Condition Allocationl system
was introduced in April 2020 and superseded the LCVAP (Locally Coordinated Voluntary-Aided
Programmel. The change in funding gives the charity ultimate control over the application of the VASCA
grants to specific schools. Historically. the LCVAP was not reflected in the Statement of Financial
Activities as the Charity had no control over the funds and the transactions were those of the school
governors rather than the Charity which acted as agent. The VASCA grant funding has now been
reco8nised as income in the Statement of Financial Activities along with the related expenditure. The
unspent balance of VASCA funding at the end of the year of £1,115K12020: £1,292KI has been
committed to projects by 31 March 2022 or returned to the DfE. The total balance on the fund at 31
December 2021 was £1,516K12020: £1,693KI.
Reserves Pollcy
At the end of 2021 the Board's unrestricted fund5 excluding fixed a55et5 lor free reservesl totalled
£523K12020: £404KI, providing more than 3 months reserves cover for current activities, meeting the
Board's target of holding approximately 3 months, expenditure in reserve. The 2022 budget was set
with the aim of break-even to maintain the current reserves levels, before the impact of Covid-19.
See Future Plans section for mitigating actions being taken to minimize the financial impact.
ODBE is supported by CSUST funds which amount to £12,193K capital including £2,OIOK reinvested
income at 31 December 2021. DTIOIL is the sole trustee of this fund. Both capital and income are funds

Oxford Diocesan Board of Education
Dlrectors. Report and Financial Statements
For the Year Ended 31 December 2021
FINANCIAL REVIEW {ConVd)
which can only be used for educatlonal purposes lsee CSUST section on pages 9 and 10 for further
details).
Investment management
The charity has general, restricted and endowment funds. The endowment funds and restricted funds
have the majority of their capital invested in the CBF Investment Fund, with total investments of £487K
12020: £426KI.
In the past this has ensured that the capital value was fully maintained overthe long term. The directors
seek professional investment advice as and when they consider it to be necessary.
The yield on investment5 during 2021 was 3%12020'. 3%}. During the year the market value of
investments increased by 14.4%12020- 6.6%).
STRucfuRE, GOVERNANCE AND MANAGEMENT
The Dlocese of Oxford
Although the Oxford Diocesan Board of Education is a separate registered charity, it is an integral part
of the Diocese of Oxford, fulfilling its statutory duties in respect of children's education.
Corporate status
The charity 15 registered with the Charity Commission INO. 11335861 and it is a company Ilmited by
guarantee (No. 07071809 England and Wales). Its governing document is the Diocesan Boards of
Education Measure 1991 las amended). Activities commenced on l January 2011, when the activities
and asset5 of Oxford Diocesan Education Services Limlted and the previou5 Oxford Diocesan Board of
Education {Charity Number 3079131 were transferred to the new ODBE charitable company.
Board and Commlttee strtscture
The directors meet three times a year. There is an Executive Committee which met more frequently,
comprising of the Board's Chairman with other key directors and the Board's senior officers. The board
of director5 has four further committees..
Finance Committee
Schools Effectiveness Committee
Development Committee
Human Resources Panel la shared committee with ODBFI
Appolntment of directors
The Bishop of Oxford is a director by virtue of his O￿lce. The directors, in consultation with the Bishop
of Oxford have agreed to appoint the Bishop of Buckingham as chairman of the board. The Bishop of
Oxford nominates either an area bishop or archdeacon to be a member of the Board. He may a150
appoint one further director. either clergy or lay.
Ten members are elected to serve a5 directors by the Diocesan Synod. At least four directors. with a
maximum of eight, are co-opted by the Board. Co-opted members have to have experience of church
schools in the diocese or have experience of other areas of work with which the Board is concerned.

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
STRucfuRE, GOVERNANCE AND MANAGEMENT (Convd)
Directors normally serve for a three-year term linked to Synodical elections. New director5 receive
induction trainin8. All directors receive ongoing training and briefings on current issues.
Some senior staff have job titles incorporating the title "Director" but they are not directors of ODBE
for the purpose of company law.
Dlrertors. responslbilitie5
The directors are responsible for preparing the directors. report and the financial statement5 in
accordance with applicable law and regulations. Company law requires the directors to prepare
financial statements for each fir¢ancial year. Under that law the directors have elected to prepare the
financial statements in accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards and applicable law}.
Under company law the directors 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 company and of the income and
expenditure of the company for that period. In preparing these financial statements, the directors are
required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in Accounting and Reporting by Charities: Statement of
Recommended Prattice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021;
make judgements and accounting estimates that are reasonable and prudent,.
state whether applicable United Kingdom Accounting Standards have been followed. subject to
material departures disclosed and explained in the financial statements,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the company will continue in business.
The directors are responsible for keeping adequate records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the
company 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 company and hence for taklng
reasonable steps for the prevention and detection of fraud and other irregularities.
Related Parttes
The directors consider the following to be related parties:
Oxford Diocesan Board of Finance {ODBF}
company with charitable status, which is the
principal vehicle for dealing with the financial busines5 of the Diocese of Oxford.
ODBF and the Church Schools Uniform Statutory Trust {CSUSTI together supply a significant
amount of the financial resources and ODBF partly supplies the administrative resources under
which the company operates.
The company is accountable to the Oxford Diocesan Synod for the appropriate use of these
resources.

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
Forthe Year Ended 310ecember 2021
STRucfuRE, GOVERNANCE AND MANAGEMENT {ConVd)
Diocesan Trustees {Oxfordl Limited IDTIOILI
a company with charitable status which is
responsible for ensuring that trust funds are used in accordance with the terms of the trust deed
and the requirements of schedule 36 of the Education Act 1996, which sets out clear parameters
for the spending of this income and capital. DTIOIL acts as sole trustee of CSUST funds.
CSUST income may be used for:
lal the provision of advice. guidance and resources in connection with management of. or
education provided at, voluntary aided, controlled and foundation schools,.
Ibl the inspection of church schools; and
Icl the cost of employing staff in connection with any of these purposes.
DTIOIL is required to consult the charity on the uses of CSUST funds. These funds arise from the
proceeds of sale of land and buildings of closed schools vested in CSUST under Statutory Instruments.
At 31 December 2021 CSUST funds had a totsl value of £12,193K12020: £10.873KI of which £10,183K
12020: £8.967KI were endowment funds and £2.OIOK12020: £1,906k} were accumulated reinvested
income funds.
In addition, the buildings and land of a number of c105ed schools are vested in CSUST. The CSUST funds
are included in the financial statements of DTIO}L.
Schedule 36 of the 1996 Education Act consolidated the 1993 Education Act in identifying the financial
activity of CSUST funds as being for the work of Diocesan Boards of Education and the support of
building work in schools. In the Oxford Diocese the support of building work has been directed towards
aided schools due to the statutory responsibilities of Governing Bodies.
Loan5 from CSUST are used to provide working capital for building work where expenditure is incurred
but subsequently reimbursed by the DfE or Local Authority.
iiil Oxford Diocesan Schools Trust- a Multi Academy Trust formed in 2012
iv) Oxford Diocesan Bucks Schools Trust~ a Multi Academy Trust formed in 2017
ODBE confirms the appointment of directors of these MATS so as to ensure that the Trust Board
comprise5 individuals who will uphold the Christian ethos of the schools and have the ability to run a
chain of schools. Apart from confirming the appointments, ODBE play5 no part in the day to day
running of ODST nor ODBST, and ODST'S and OD8ST's primary accountability a5 Multi AcademyTrusts
is to the Secretary of State. Thus. there is no requirement to consolidate these financial statements
with 008.

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 31 December 2021
PRINCIPAL RISKS AND UNCERTAINTIES
The directors confirm that the major strategic risks to which the Charity is exposed have been identified
and reviewed and that systems have been established to manage those risks.
Directors have delegated to the Director of Education the task of carrying out reviews of operational
risks and the management and monitoring of risks. To achieve this, a register of the identified risks is
maintained, and, alongside it, a management and mitigation strategy formed. Directors review the risk
register at least annually as part of corporate risk management.
The risk register scores risk based on likelihood, financial and reputational impact. After mitigating
action is considered, the following areas have the highest levels of residual risk.
l. Whilst there has been a signlflcant Improvement in the revenue budget over the past four years
there remalns some strong external pressures Includln& Covid-19, rlslng Inflatlon and more
recently the war in Ukraine, on the budget and particularly on staffing costs. Failure to addre55
thls wlll result In an eroslon of limited reserves which Is not sustainable.
Mitigating strategies:
Continue to develop new income stream5, monitor the viability of current Services and
maximise income from the SLA and other areas.
Ensure cost effective delivery of services, particularly in the light of new ways of working
followlng the Covid-19 pandemic.
The Board has taken steps to reduce expenditure in future years by taking action during 2021
to reduce costs.
To monitor the impact of Covid-19 and the war in Ukraine on investments to ensure long term
SU5tainabilitv.
2. The national ¢hur¢h has set a target to achleve zero carbon by 2030 and the Dlocese of Oxford's
target is to be zero carbon by 2035. Whi15t we are fully committed to meeting these targets
capltal fundlng to achleve them Is not yet aligned. Most of the school< capltal funding comes
from the Department for Educatlon whose tsrget Is to achleve zero carbon by 2050.
Mitigating strategies..
We are proceeding with zero carbon 5urvey5 on the schools to identify the capital works
required.
Attempt to identify a further source of capital funding to meet the earlier target dates.
3. If small schools lin particularl are not able to respond to the continued bud8etsry restraint they
may risk becoming financially vulnerable and, therefore, more at risk of closure in the long
term. Whilst their general Income is secure this is subjert to pupll numbers whlch are now
declining in many primary schoo15 and In some cases causing slgnlficant pressures. Any
permanent closures would cause a reputational rlsk to ODBE, create considerable disturbance
In the community and would result In ODBE not belng able to meet Its core purpose of serving
schools In affected communltles.
io

Oxford Dlocesan Board of Education
Directors, Report and Finantial Statements
For the Year Ended 31 December 2021
PRINCIPAL RISKS AND UNCERTAINTIES (Convd)
Mitigating strategies..
Work proactively to identify those schools most at risk and support them to develop strategies.
Offer new training opportunities to govemors on financial matters. Encourage schools to come
together in federations. amalgamations and In academy trusts and consider alternative
leadership models where appropriate.
Brief the wider diocese and other relevant organisations on how they could support their local
schools.
4. With the current heightened safeguarding awareness. It could lead to the identificatlon of serlous
safeguardlng concerns whlch could have a negatlve reputational lrnpart on the ODBE. the wlder
dloce5e and the speclfic schools concemed.
Mitigating strategies:
Liaise with the appropriate Local Authority and diocesan safeguarding leads to ensure earlv
intervention when concerns are raised.
Ensure that all policies and procedures of the ODBE effectively consider safeguarding issues.
Ensure that all trustees and staff are sufficiently well trained to deal with safeguarding issues
from the Board's perspective.
li

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Oirectors of the Board
The following were the directors and members of the Oxford Diocesan Board of Education at the date
of thi5 report. All have served throughout 2021 except where indicated otherwise:
Member
The Right Reverend Dr SJ Croft
The Right Reverend Dr A T L Wilson (Chairl
Miss L Williams lappointed l Jan 2022)
The Revd M D Bennet
MrG SAnderson JP
Mrs Kwinrow
Mr P Flory lappointed l Jan 20221
The Revd T J L Harper
Mrs L M Piper
Mr T W Llewellyn
Mrs P A Hudson
The Revd S E Sharp
DrFCPLeach
Mr M Abbott
Mrs H J Brown lappointed l Jan 2022)
Mr A Browne
Ms H Crolla
Ms N Flower
The Revd D W McFarland
Mr P R Norman
Mr C Tomes (appointed l Jan 20221
Basis of appolntment
Ex Officio Bishop of Oxford
Nominated by the Bishop of Oxford
Nominated by the Bishop of Oxford
Synod elected for Berkshire Archdeaconry
Synod elected for Berkshire Archdeaconry
Synod elected for Berkshire Archdeaconry
Synod elected for Buckingham Archdeaconry
Synod elected for Buckingham Archdeaconry
Synod elected for Buckingham Archdeaconry
Synod elected for Dorchester Archdeaconry
Synod elected for Dorchester Archdeaconry
Synod elected for Dorchester Archdeaconry
Synod elected for Oxford Archdeaconry
Co-opted
Co-opted
Co-opted
Co-opted
Co-opted
Co-opted
Co-opted
Co-opted
Members whose term of office came to an end
The Ven J French Ito 31.12.211
Ms J Moriarty (to 31.12.211
Mrs M E Lomas (to 31.12.211
The Revd M A Harwood (to 31.12.211
Mrj S Moule (to 31.12.211
Nominated by the Bishop of Oxford
Synod elected for Berkshire Archdeaconry
Synod elected for Buckingham Archdeaconry
Co-opted
Co-opted
Senlor staff and advisers
Director of Education
Deputy Director
Interim Deputy Dlrector
Deputy Director
Mr Antony Wilson
Mrs Frances Bartlett (to 31.08.211
Mrs Ruth Bennie
Mr Gordon Joyner
12

Oxford Diocesan Board of Educatlon
Diredors, Report and Financial Statements
For the Year Ended 31 December 2021
REFERENCE AND ADMINISTRATIVE DETAILS (Cont'd.)
'Registered Office
Church House Oxford, Langford Locks. Kidlin8ton, Oxford, OX5 IGF
Bankers
National Westminster Bank plc, 32 Cornmarket Street, Oxford OXI 3EZ
Auditor
Buzzacott LLP, 130Wood Street. London, EC2V 6DL
Solicitors
Winckworth Sherwood LLP, 2 Chawley Park, Cumnor Hill, Oxford OX2 9GG
Insurers
Ecclesiastical Insurance O￿lCe plc, Beaufort House, Brunswick Road, Gloucester
GLI IJZ
BASIS OF PREPARATION
The financial statements have been prepared in accordance with applicable United Kingdom
Accounting Standards, the Companies Act 2006, and Accounting and Reporting by Charities:
Statement of Recommended Practice effective from accountin8 periods commencing on or after I
January 2015.
STATEMENT OF DISCLOSURE TO AUDITOR
As far as each director is aware, there is no relevant audit information of which the chariws auditor
Is unaware.
Each director has taken all the steps helshe ought to have taken as a director in order to make
himselflherself aware of any relevant information and to establish that the charitvs auditor is aware
of that information.
Signed on behalf of the dirertors
The Right Revd Dr A T L Wi150n
Chairman
th
11 June 2022
13

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 31 December 2021
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD
DIOCESAN BOARD OF EDUCATION
Oplnion
We have audited the financial statements of Oxford Diocesan Board of Education (the 'charitable
companVI for the year ended 31 December 2021 which comprise the statement of financial activities,
the balance sheet, the statement of cash flows, and the notes to the financial statements including the
principal 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 Practicel.
In our opinion, the financial statements:
8ive a true and fair view of the state of the charitable companvs affairs as at 31 December 2021
and of its income and expenditure for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2Iy)6.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the auditorfs
responsibilities for the audit of the financial statement5 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 UK, including the FRCS 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 dirertors. 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 identif led any material uncertainties relating to
event5 or conditions that, individually or colledively, may cast significant doubt on the charitable
CoMpan￿S ability to continue as a going concern for a period of at least twelve months from when the
financial statement5 are authorised for issue.
Our responsibilities and the responsibilities of the directors with respectto going concern are described
in the relevant sections of this report.
14

Oxford DI0￿San Board of Educatlon
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
INDEPENDENT AUDITOR'S REPORT (Convd.)
The directors are responsible for the other information. The other information comprises the
information included in the Directors, Report and Financial Statements. other than the financial
statements and our auditor's report thereon. Our opinion on the financial statement5 does not cover
the other information and, except to the extent otherwise explicltly stated in our report, we do not
express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially
mi55tated. If we identify such material inconsistencies or apparent material misstatements. we are
required to determine whether there is a material misstatement in the financial statements or
material misstatement of the other information.
Other information
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.
Opinions on other matters prescribed by the Companie5 Art 2006
In our opinion. based on the work undertaken in the course of the audit:
the information given in the directors, report for the financlal year for which the financial
statements are prepared is consistent with the financial statements; and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exception
In the light of the 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 directors,
report. We have nothing to report in respect of the following matters in relation to which the
Companies Act 2006 requires US to report to you if. in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us: or
the financial statements are not in agreement with the accounting records and returns: or
certaln disclosures of directors, remuneration specified by law are not made: or
we have not received all the information and explanations we requlre for our audit; or
the directors were not entitled to take advantsge of the small companies exemption from the
requirement to prepare a strategic report.
15

Oxford Diocesan Board of Education
D1￿CtOrS, Report and Financial Statements
For the Year Ended 31 December 2021
INDEPENDENT AUDITOR'S REPORT (Conyd.)
Responsibilitles of dirertors
As explained more fully in the directors, responsibilities statement, the directors 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 directors 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 directors are responsible for assessing the charitable
companvs ability to continue as a going concern, disc105ing, as applicable, matters related to going
concern and uslng the going concern basi5 of accounting unless the directors either intend to
liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditorf5 responslblllties for the audit of the financlal ststements
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 auditorfs report
that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that
an audit conducted in accordance wlth ISAS IUKI will always detect a material misstatement when it
exists.
Mi55tatements 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 re8ulations. We design
procedures in line with our responsibilities. outlined above, to detect material misstatement5 in
respect of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularitie5, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations. was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate
competence. capabilities and skills to identify or recognlse non-compliance with applicable
laws and regulations;
we identified the laws and regulations applicable to the charitable company through
discussions with directors and other management, and from our knowledge and experience of
the sector;
we focused on specific laws and regulations which we considered may have a direct material
effect on the financial statements or the operations of the charitable company, including the
Charities Act 2011, the Companies Act 2W6, Education Acts, data protection legislation, anti-
bribery, employment. pensions and health and safety legislation,.
we assessed the extent of compliance with the laws and regulations identified above through
making enquiries of management and inspecting legal correspondence- and
identified laws and regulations were communicated within the audit team regularly and the
team remained alert to instances of non-compliance throughout the audit.
16

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
INDEPENDENT AUDITOR'S REPORT (Convd.)
We assessed the susceptibility of the charitable companvs financial statements to material
misstatement, including obtaining an understanding of how fraud might occur, by..
making enquiries of those charged with governance as to where they considered there was
susceptibility to fraud, their knowledge of actual, suspected and alleged fraud- and
considering the internal controls in place to mitigate risks of fraud and non-compliance with
laws and regulations.
To addres5 the risk of fraud through management bias and override of contro15, we:
performed analytical procedures to identify any unusual or unexpected financial relationships,.
tested journal entries to identify unusual transactions,.
tested authorisation during substantive testing of expenditure,.
assessed whether judgements and assumptions made were indicative of potential bias,. and
investl8ated the rationale behind significant or unusual financial transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
procedures which included, but were not limited to:
agreeing financial ststement disclosures to underlying supporting documentation,.
reading the minutes of meetings of those charged wlth governance:
enquiring of management as to actual and potential litigation and claims,. and
reviewing correspondence with HMRC and the companVs legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws
and regulations are from financial transartions, the less likely it is that we would become aware of
non-compliance. Auditing standard5 also limit the audit procedures required to identify non-
compliance with laws and regulations to enquiry of the directors and other management and the
inspettion of regulatory and legal correspondence, if anv.
Material misstatements that arise due to fraud can be harder to detect than those that arise from
error as they may Involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at véww.frc.org.uklauditorsresponsibilities. This description
forms part of our auditorfs report.
17

Oxford Diocesan Board of Education
Diredors, Report and Financial Statements
For the Year Ended 31 December 2021
INDEPENDENT AUDITOR'S REPORT (Convd.)
Use of our report
This report is made solely to the charitable companws 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 the charitable company's members as
body. for our audit work. for this report, or for the oplnlons we have formed.
Catherine Biscoe (Senior Statutory Auditor}
For and on behalf of Buzzacott LLP. Statutory Auditor
130 Wood Street
London
EC2V 6DL
Date.. 22107/2022
18

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 December 2021
Unrestricted Restricted Endowment
Funds
Funds
Funds
Total
Funds
2021
Total
Fund5
2020
Note
£'ooo
INCOME AND ENDOWMENTS FROM:
Donations and grants
Grants from CSUST
Grants from ODBF
Grants from DfE
Job Retention Scheme grant
438
382
89
527
382
3,235
531
382
3,717
32
3,235
820
3.324
4,144
4,662
Charitable Artlvities:
School premises related income
School service agreement
Training and consultancy
services to schools
Admission Appeals
401
269
401
269
315
227
133
36
15
164
36
839
15
854
750
Investments
12
13
16
Total Income
1,660
3,351
5,011
5.428
EXPENDITURE ON: Charltable Actlvltles
School leadership and
governance support
School premises related support
Admission and Appeals seNice
1,193
300
51
20
1,213
3,801
51
1.218
2,785
48
3,501
Total Expenditure
1.544
3.521
5,065
4.051
Net income l{expenditurel
before gains on investments
Gains on investments
116
(1701
1541
1,377
16
45
61
28
Net incorne lexpendlture) and
net movement In funds
116
(1541
45
1,405
Reconciliation of funds..
Total funds brought forward
Total funds carrled forward
411
1.906
311
2,628
1.223
527
1,752
356
2.635
2.628
19

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
STATEMENT OF FINANCIAL AcfiviTIES Forthe Year Ended 31 December 2021 (Conydl
The Statement of Financial Activities ISOFAI includes all gains and losses recognised in the year. All
income and expenditure derive from continuing activities. The prior year comparative SOFA for 2020
is shown in Note 19 on pages 3940. The notes on pages 24-40 form part of these financial
ststements.
20

Oxford Di0￿san Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
INCOME AND EXPENDITURE ACCOUNT
Total
2021
Total
2020
Income
Expenditure
Operating {deficit)1 surplus for the year
Net gains on investments
5,011
15,0651
5.428
(4,051)
{541
16
1,377
Net {expendlture) / Income for the year
{381
1.385
The income and expenditure account is derived from the Statement of Financial Activitie5 Wlth
movements in endowment funds excluded to comply with company law. All income and expenditure
is derived from continuing activities.
21

Oxford Diocesan Board of Education
Oirectors, Report and Financial Statements
For the Year Ended 31 December 2021
BALANCE SHEET as at 31 December 2021 Company No. 07071809 (England and Wales)
2021
£'o¢Jo
2020
Note
FIXED ASSETS
Tangible assets
Investments
487
426
Total Fixed Assets
491
433
CURRENT ASSEf5
Debtors
Cash at bank
io
li
302
2,649
168
2.694
Total Current Assets
2.951
2,862
Creditors: Amounts falling due within one year
12
17071
f567)
Net Current Assets
2,244
2.295
Total Assets Le55 Current Liabilities
2,735
2.728
Credltors: Amounts falling due after more than one year
12
11001
(100)
NET ASSETS
2,635
2,628
THE FUNDS OF THE CHARITY
Endowment Funds
Restricted Funds
General Funds
14
15
356
1,752
527
311
1.906
411
Total Charlty Funds
2,635
2,628
The notes on pages 24to40form part of thesefinancial statements. Included in the above investments
are unrealised gains amounting to £393K. See notes 14 and 15 to the financial statements.
th
These financial statements were approved and authorised for issue by the directors on 11 June 2022
and signed on their behalf by:_
The Ri
t Reverend Dr. A. T. L. Wilson
Chairman
erson JP
Director
22

Oxford Dlocesan Board of Educatlon
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
STATEMENT OF CASH FLOWS for the year ended 31 December 2021
2021
2020
£'ooo
1.391
Net cash provlded by operating artlvltles {Below l)
1571
Cash flows from Investlng actlvltles
Dividends and interest received from investments
Purchase of:
Tangible fixed asset5
13
16
{ii
(3)
Net cash provided by investing activities
Change in cash and cash equlvalents In the
reporting period
Cash and cash equivalents at l January
Cash and cash equivalents at 31 December (Below
12
13
1451
2.694
1,404
1,290
2.649
2.694
21
Reconclllatlon of net movements In funds to net
cash flow provlded by operating artlvities
Net movement In funds for the year
1.405
Adjustment5 for:
Depreciation charges
Gains on investments
Dividend5 and interest receivable from Investments
Increase/{Decreasel in debtors
Increase/lDecreasel in creditors
1611
1131
11341
140
(28)
(16)
132
(106)
Net cash provlded by operating actlvltles (Above l)
Analysls of cash and ¢a5h equlvalents
Cash at bank IAbove 21
1571
1.391
2,649
2,694
23

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS
I. PRINCIPAL ACCOUNTING POLICIES
The Oxford Diocesan Board of Education IODBEI is a company limited by guarantee (No. 07071809
England and Walesl and a registered charity INO. 11335861 govemed by its Memorandum and
Articles of Association, incorporated in England. Its registered office is Church House Oxford,
Langford Locks. Kidlington, Oxon OX5 IGF.
8asls of a¢countlng
The principal accounting policies adopted, judgements and key sources of estimation uncertainty
in the preparation of the financial statements are laid out below.
Basls of preparation
These financial statements have been prepared for the year to 31 December 2021 with
comparative infomiation provided for the year to 31 December 2020.
The financial statements have been prepared under the historical c05t convention with items
recognised at cost or transaction value unless otherwise stated in the relevant accounting policies
below or the notes to these financial statements.
The financial statements have been Prepared in accordance with Accounting and Reporting bv
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland
{Charities SORP FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2006.The Charity constitutes a public benefit entity as
defined by FRS 102. The financial ststements are presented in UK sterling and are rounded to the
nearest thousand.
Critical accounting estimates and areas of ludgement
Preparation of the financial statements may require the directors and management to make
slgnificant judgements and estimates. Other than the estimation of future income and expenditure
flows for the purpose of assessing going concern Isee below), there are no critical accounting
estimates or areas where judgement has been applied in the preparation of these financial
statements.
Golng concern
The directors have assessed whether the use of the going concern assumption Is appropriate in
preparing these financial statements. The directors have made this as5e55ment with respect to a
period of at least one year from the date of approval of these financial statements. The directors
have concluded that there are no material uncertainties related to events or condition5. including
Covid-19, that may cast significant doubt on the ability of the Charity to continue as a 8oin8
concern. The directors are of the opinion that the Charity will have sufficient resources to meet its
liabilities as they fall due. This is because the Charity has sufficient monetary assets, including short
term cash balances, which could be readily realised in order to meet liabilities should there be an
unexpected curtailment of income.
24

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
I. PRINCIPAL ACCOUNTING POUCIES (Conyd)
Income
Income, including donations and grants is recognised In the period in which the Charitv 15 entitled
to receipt, the amount can be measured reliably and it is probable that the funds will be received.
Monies receivable from the Government's Coronavirus Job Retention Scheme are recognised when
the charity has entitlement to the income.
Dividends are recognised once the dividend has been declared and notification has been received
of the dividend due.
Expenditure
Expenditure is included In the statement of tinancial activities when incurred and excludes
fecoverable VAT.
Expenditure comprises expenditure on the Chariws primary charitable purposes as described in
the directors, report including the payment5 of grants. The expenditure includes both costs that
can be allocated directly to such activities and those indirect costs necessary to support them.
Support costs are those costs which enable charitable activitie5 to be carried out. These costs
include the expenses relating to finance, human resources, property management,
communications and information technology.
Grants payable are included in the statement of financial activities when approved and when
committed. Commitment will usually arise when the intended recipient has either received the
funds or been informed of the decision to make the donation.
Tanglble Flxed Assets
Depreciation is calculated to write off the office and computer equlpment to Its residual value by
equal instalments over 4 years, being its estimated useful life.
Flnancial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Apart from fixed asset investments held at fair value, these are recognised initially at
transaction value and subsequently measured as described below.
Investments
Listed investments are a form of basic financial instrument and are initially recognised at thelr
transaction value ènd subsequently measured at their fair value as at the balance sheet date using
the closing quoted market bid-price.
Realised gains lor losses) on investment assets are calculated as the difference between disposal
proceeds and their opening carrying value or their purchase value if acquired subsequent to the
25

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 310ecember 2021
I. PRINCIPAL ACCOUNTING POLICIES (Convd)
first day of the financial year. Unrealised Eains and losses are calculated as the difference
between the fair value at the year end and their carrying value at that date. Realised and
unrealised investment galns lor losses} are combined in the statement of financial activities and
are credited lor debited) in the year in which they arise.
Debtors
Debtors are recognised at their settlement amount, le55 any provision for non-recoverability.
Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand
or have a maturity of less than three months from the date of acquisition.
Credltors and provisions
Creditors and provision5 are recognised when there is an obligation at the balance sheet date as
result of a past event, it is probable that a transfer of economic benefit will be required in
settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions
are recognised at the amount the charity anticipates it will pay to settle the debt. Liabilities in
respect of building works are recognised when the charity is invoiced.
School Buildlng Projects
The Charity assist5 voluntary aided schools with school building projects and the provision of IT
equipment. The VASCA IVoluntary-Aided Schools Condition Allocationl system was introduced in
April 2020 and superseded the LCVAP (Locally Coordinated Voluntary-Aided Programmel. Until
April 2020, the Charity acted a5 the agent of school governors in helping to arrange funding through
the DfE and Local Authorities and in paying professional fees and building costs on behalf of school
governors. The LCVAP income and expenditure was not reflected in the Statement of Financial
Activities as the Charity had no control overthe funds and the transactions were those of the school
governors rather than the Charity which acted as agent. The change in funding from April 2020
gives the Charity ultimate control over the application of the VASCA grants to Specific schools.
Therefore. the VASCA grant funding received is recognised in the SOFA alon8 Wlth the related
expenditure.
Fund structure
The unrestricted funds comprise those monies which may be used towards meeting the charitable
objectives of the charity and may be applied at the discretion of the directors.
The restricted funds are monies raised for, and their use restricted to, a specific purpose, or
donations subject to donor imposed conditions.
The endowment funds comprise assets which normally must be held as capital {permanentl but.
where permitted, may be applied towards meeting certain charitable aims lexpendablel. The
income therefrom may be used either in accordance with the donors. wishes, if stipulated. or for
general purposes.
26

Oxford Dlocesan Board of Educatlon
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
I. PRINCIPAL ACCOUNTING POLICIES (Convd)
Penslons
The pension costs charged in the financial statements represent the contributions payable by OD8E
during the year to four pension schemes.. the final salary scheme operated by ODBF through the
Pensions Trust, the Teachers. Pension Scheme, the Pension Builder Scheme of the Church Workers
Pension Fund and a private/personal pension scheme. Full disc105ure of the final salary pension
scheme operated by OD8F is included in the accounts of Oxford Diocesan Board of Flnance, the
participating employer.
27

Oxford Diocesan Board of Educatlon
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS (Convd.)
2. ANALYSIS OF INCOME
2.1 Income from Donatlons
Total
2021
Total
2020
£'ooo
521
io
Annual support grant from CSUST
Other CSUST grants
Total grants from CSUST
527
527
531
Annual ODBF grant
Common Vision grants.. Chaplaincy & Church/Schools
relationships
269
269
iio
iio
Other Diocesan grants
Total Diocesan grants from ODBF
382
382
DfE grants {note 41
Job Retention Scheme grant
3,235
3.717
32
Total grants
4,144
4,662
All donations and grants related to unrestricted funds in both the above years except for £89k of
the annval grant from CSUST and £3,235K from the DfE which are restricted to property related
expenditure.
2.2 Income from Charitsble Activitles
School premises related income
School Service Level Agreements
Training and consultancy services to schools
Admission5 Appeals
401
269
133
36
315
227
139
44
Total Unrestricted Income from Charitable Activities
Restricted income from Training and Consultancy Services to
Schools
839
725
15
25
Total Income from Charitable Activities
854
750
2.3 Income from Investments
Interest Receivable- Unrestricted
Dividends Receivable- Restrlcted
12
12
13
16
28

Oxford Diocesan Board of Education
D1￿clOr5, Report and Financial Statement5
For the Year Ended 31 December 2021
3. ANALYSIS OF EXPENDITURE
3.1 Expendlture on Charltable Artlvlties
2021
Support
Costs
(Note 3.21
2020
Total
C05tS
Direct
Costs
Total
Costs
£'ooo
1,193
300
51
vooo
1,218
273
Schools Leadership and Governance Support
School Premises Related Support
Admissions and Appeals Service
1,038
241
43
155
59
Totsl Unrestricted Expenditure
1,322
222
1,544
1.539
School Premises Related Support
Total Restricted Expenditure
3.521
3.521
3,521
3.521
2.512
2,512
Total Expenditure on Charitable Activities
4.843
222
5.065
4,051
3.2 Support Costs
School
School
Leadership Premises
Related
Governance Support
Support
£'ooo
17
38
31
23
46
Admissio
ns&
Appea15
Service
2021
Total
2020
Total
£'ooo
Governance (Note 3.31
Finance
Information Technology
Human Resources
Other Overhead Costs
22
69
41
30
60
16
68
37
29
58
29
12
Total
155
59
222
208
3.3 Governance Costs
2021
2020
Audit Fees
Statutory Costs and Legal Fees
Committee Costs
12
22
16
29

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS (Convd.)
4. SCHOOL BUILDING IMPROVEMENTS AND REPAIRS
The Charity assists voluntary aided schools with school building projects and the provision of IT
equipment. The VASCA IVoluntary-Aided Schools Condition Allocation) system was introduced in
April 2020 and superseded the LCVAP {Locally Coordinated Voluntary-Aided Programmel. Until
April 2020, the Charity acted as the agent of school governor5 in helping to arrange funding through
the DfE and Local Authorities and in paying professional fees and building costs on behalf of school
governors. The LCVAP income and expenditure was not reflected in the Statement of Financial
Activities as the Charity had no control over the funds and the transactions were those of the School
governors rather than the Charity which acted as agent. The change in funding from April 2020
gives the Charity ultimate control over the application of the VASCA grants to specific schools.
Therefore, the VASCA grant funding received is recognised in the SOFA along with the related
expenditure.
2021
2020
£'ooo
School Building Improvements & IT Equipment
Funded by:
Department for Education IDfEI- DFC
Department for Education IDfEI- VASCA
Local Authorities {LAsl
School Governors and other
4.303
2,809
566
3,281
iio
346
929
1,687
193
4,303
2,809
5. DIREcfoRS' REMUNERATION
No remuneration has been paid to any director during the year for acting as a director or trustee
12020: none). I director was reimbursed for travel, subsistence and incidental costs amounting to
£I,0fy)12020: 1 director was reimbursed £401.
30

Oxford Diocesan Board of Education
Directors, Report and Flnantial Statements
For the Year Ended 31 December 2021
6. sfAFF COSTS
The average staff numbers lexcluding directors) based on headcount and full-time equivalent5 was
as follows:
2021
2020
Average
Full time
Headcount Equivalent
Average
Heodcount
Full time
Equivolent
Support for Charitable Activities
Admin Support
20.0
16.4
20.4
15.4
Total
22.0
17.8
22.8
18.4
Staff costs during the year amounted to:
2021
202Q
Wages and Salaries
Pensions Contrlbutions
Social Security Costs
962
2iJ)
107
999
206
iii
Total
1,269
1.316
The number of employees whose emoluments for the year (including benefits in kind but excluding
employerfs National Insurance and pension contributions} exceeded £60,000 were as follows:
2021
2020
£60,001-£70.￿0
£70.001-£80,￿0
£90.(X)I-£Ioo.000
Remuneratlon of key management personnel
Key management personnel are deemed to be those havlng authority and responsibility for
planning, directing and controlling the activities of ODBE. In addition to the directors of the
company. key management personnel during 2021 comprised:
Director of Education
Mr Antony Wilson
Deputy Director
Mrs Frances Bartlett (to 31.08.20211
Deputy Director
Mr Gordon Joyner
No remuneration was paid to any company director during the year12020'. £nill for acting as a
director or a member of key management personnel. The aggregate remuneration, including
employe¢s National Insurance contributions and pensions for these 3 employees amounted to
£293K12020: 3 employees £290KI.
The Charity has insurance to protect it from any loss arising from the neglect or defaults of its
directors and to indemnify the d1￿CtorS against the consequences of any neglect or default on their
part. The insurance is provided as part of the Charitws general insurance and as such there is no
separate premium payable {2020: none). The cover provided is up to £IOO,OCrf) {2020: £100,000).
31

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 31 December 2021
7. PENSION COSTS
Pension contributions were made in the year to four pension schemes: £28K for two staff to the
final salary scheme operated by ODBF through the Pensions Trust12020.. £27KI, £137K for eleven
staff to the Teachers, Pension Scheme12020'. £138KI, £32K for eight staff12020= ten staff) to the
Church Workers Pension Funds Pension Builder scheme12020: £37KI and £4K (2020.. £4KI for one
member of staff to a personallprivate pension scheme.
Staff defined benefrt scheme
Full disclosure of the final salary pension scheme is included in the accounts of Oxford Diocesan
Board of Finance, the participating employer. No additional deficit contributions were due or paid
in 2021 towards the previous deficit12020: £nill.
Church Workers Penslon Fund ICWPF)
ODBE participates In the Pension Builder Scheme section of CWPF for lay staff. The scheme is
administered by the Church of England Pensions Board, which holds the assets of the scheme
separately from those of the Employer and the other participating employers.
The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred
annuity section known as Pension Bullder Classic and a cash balance section known as Pension
Builder 2014.
Penslon 8ullderScheme
The Pension Builder Scheme of the Church Workers Pension Fund is made up of two section5,
Pension Builder Classic and Pension Builder 2014. both of which are classed as defined benef it
schemes.
Pension Builder Classic provides a pension for members for payment from retirement, accumulated
from contributions paid and converted into a deferred annuity during employment based on terms
set and reviewed by the Church of England Penslons Board from time to time. Discretionary
increases may also be added. depending upon the investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to
provide benefits at retirement. Pension contribution5 are recorded in an account for each member.
This account may have bonuses added by the Board before retirement. The bonuses depend on
investment experience and other factors. There is no requirement for the Board to grant any
bonuses. The account, plus any bonuses declared. is payable from members, Normal Pension Age.
There is no sub-division of assets between employers in each section of the Pension Builder
Scheme.
The scheme is a multi-employer scheme as described in Section 28 of FRS 102 as it Is not possible
to attribute the Pension Builder Scheme's assets and liabilities to specific employers. This means
that contribution5 are accounted for as if the Scheme were a defined contribution scheme. The
pensions costs charged to the SOFA in the year are contributions payable12021: £32K. 2020: £37KI.
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent
scheme valuation completed was carried out as at 31 December 2019.
32

Oxford Diocesan Board of Education
Directors, Report and Flnancial Statements
For the Year Ended 31 December 2021
7. PENSION COSTS Iconvd)
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%, followlng 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, ODBE could become
responsible for paying a share of that failed employerfs pension liabilities.
Teachers, Penslon Scheme
The Teachers. Pension Scheme ITPSI is a statutory. contributory, defined benefit scheme, governed
by the Teachers, Pension Scheme Regulations 2014.
The TPS is an unfunded scheme and members contribute on a -pay as you go. basis
these
contributions alon8 With those made by employers are credited to the Exchequer. Retirement and
other pension benefits are paid by publlc funds provided by Parliament.
Valuatlon of the Teachers. Penslon Scheme
The Government Actuary. using normal actuarial principles, conducts a formal actuarial review of
the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl
Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future
contributions. Actvarial Scheme valuations are dependent on assumptions about the value of
future costs, design of benefits and many other factor5. The 13test actuarial valuation of the TPS
was carried out as at 31 March 2016. The key elements of the valuation are".
Employer contribution rates were Set at 23.68% of pensionable pay (including a 0.08%
employer administration charge), effective from I September 2019.
Total scheme liabilities {pensions currently in payment and the estimated cost of future
benefits) for service to the effective date of £218,100 million and notional assets lestimated
future contributions together with the notional investments held at the valuation datel of
£196.100 million, giving a notional past service deficit of £22.000 million.
The SCAPE rate. set by HMT, is used to determine the notional investment return. The current
SCAPE rate is 2.4% above the rate of CPI, assumed real rate of return is 2.4% in excess of prices
and 2% in exce55 of earnings. The rate of real earnings growth is assumed to be 2.2%. The
assumed nominal rate of return including earnings growth is 4.45%.
The TPS was being evaluated as March 2021 when the fundings were announced. The employer
contribution rate is expected to be reassessed and will be payable from l April 2023. Supporting
documentation regarding the valuation is available on the Teachers, Pensions website. Under the
definitions Set out in FRS 102, the TPS is a multi-employer pension scheme. Therefore, ODBE has
accounted for its contributions to the scheme as if it were a defined Contribution scheme.
33

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statements
For the Year Ended 310ecember 2021
NOTES TO THE FINANCIAL STATEMENTS (Convd.)
8. TANGIBLE FIXED ASSErs
Computer
Equipment
£'ooo
Office
Equipment
Total
£'ooo
Cost at l January 2021
Additions
26
31
Cost at 31 December 2021
27
32
Depreciation at l January 2021
Charge for the Year
19
24
Depreciation at 31 December 2021
23
28
Net book values at 31 December 2020
Net book values at 31 December 2021
9. INVESTMENTS
Endowment
Funds
£'ooo
Restricted
Funds
£'ooo
Totsl
Market Value at l January 2021
Unrealised Gains in the Year
311
45
115
16
426
61
Market Value at 31 December 2021
356
131
487
Historical Cost of Investments
20
75
95
All of the invested funds are held within the UK in CBF Investment Fund shares.
10. DEBTORS
2021
£'ooo
2020
£'ooo
Amounts due within one year:
Debtors for School Building5 Work
Other Debtor5
Prepayments and Accrued Income
155
128
19
61
97
io
302
34

Oxford Diocesan Board of Education
Dlrectors, Report and Financial Statements
For the Year Ended 31 December 2021
10. DEBTORS {ConVd)
Debtors arising from school building work are mainly due from the DfE and Local Authorities, with
a small amount from school governors. These debtors principally relate to monies due under the
VASCA Scheme {see note 4}.
11. CASH AT BANK
2021
2020
General Deposit and Current Accounts
2,649
2,694
12. CREDITORS
2021
2020
£'ooo
Amounts falling due within one year..
Funding for School Building Works Received in Advance
including amounts due under the LCVAP that operated until
31 March 2020 Isee Note 41
Expense Creditors
Accruals and Deferred Income {Note 13)
Taxation and Social Security
238
169
69
327
73
59
297
42
707
567
Amounts falling due after more than one year:
Loan from CSUST
loo
The loan from CSUST is interest-free with no fixed repayment date and wa5 advanced to assist
with cashflow.
13. DEFERRED INCOME
2021
2020
£'ooo
Balance at l January
Amounts added in current year
Amounts released to income from prior years
Balance at 31 December
84
83
1841
97
84
(97)
83
84
Deferred Income relates to income received In advance for the period January to March 2022 for
the school Service Level Agreement, DFC administration charges and appeals income.
35

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS (Conyd.)
14. ENDOWMENT FUNDS
Balance at
l January
2021
Investment
Gains
Balance at
31 December
2021
Hills Bequest for Schools
ODBE Thatcham & Newbury Educational Charitv
155
156
23
22
178
178
Total
311
45
356
Included In the funds at 31 December 2021 is £336K of unrealised investment gains12020: £291KI.
These funds are held in CBF Investment Fund shares.
ODBE- Thatcham & Newbury Educational Charity
In May 1979 the old Thatcham Church of England school was sold and the Charity Commission
provided that one third of the sale proceeds should be managed as a separate charity. Thi5 fund
has perpetual capital, which is invested in CBF Investment Fund shares. The income from this fund
Is for furthering the religious, educational and other charitable work of the Church of England in
Thatcham and Newbury and the neighbourhood thereof Isee note 151.
Hi115 Bequest for Schools
This trust has perpetual capital which is invested in the CBF Investment Fund. The income is for the
upkeep, maintenance and repair of Church Schools in the diocese with preference being given to
Shrivenham School Isee note 15}.
15. RESTRicfED FUNDS
Balance at
l January
2021
Income
Expenditure
Investment
Gains
Balance at
31 De￿rnber
2021
Building Improvement Scheme
Hills Bequest for Schools
ODBE Thatcham & Newbury Educational
Charity
Other
1,693
48
3,324
13,5011
1,516
52
140
25
16
164
20
15
1201
Total
1.906
3,351
13,5211
16
1,752
Included in the funds at 31 December 2021 is £57K of unrealised Investment galns12020- £41KI.
These funds are held in CBF Investment Fund shares.
Buildlng Improvement scheme
The balance ori this fund represents contributions from the DfE and other grants that have not yet
been applied to building projects in schools. Since l April 2000 the purpose of this fund has been
for both improvements and repairs (see note 41.
36

Oxford Diocesan Board of Education
Dlrectors. Report and Financial Ststements
For the Year Ended 31 December 2021
NOTES TO THE FINANCIAL STATEMENTS (Convd.)
16. RELATED PARTIES
ODBF is a related charity. whlch provided an annual grant to ODBE of £269K in 202112020: £269K).
In 2021 ODBF made a grant of £IIOK to ODBE to 5UPPOrt Common Vision projects.. chaplaincy and
development of churchlschool relationships. In the prior year, 2020, ODBF made grants totalling
£382Kto support engagement between schools and parishes and the development of newschools.
ODBF provides support services {HR, finance, ICT, premises. communications and administration)
to ODBE with a total cost of £179K in 202112020: £171KI. The amount due to ODBF was £83K at
31 December 202112020= £20KI.
DTIOIL holds the funds of CSUST and consults with the charity on the use of CSUST funds (see
Directors, Report). CSUST provides interest-free loans to the charity which amounted to £I￿K on
31 December 2021 to finance cash flow12020: £IC￿K). CSUST made grants of £527K in 2021 to
5UPPOrt the work of ODBE (2020: £531KI.
Oxford Diocesan SchoolsTrust {ODSTI was formed In 2012 as a multi academy trust. Service charges
from ODBE to ODST for project management. buildings consultancy, schools advisory. officer and
premises support during 2021 totalled £261K12020: £253KI. The amount due to ODBE was £103K
at 31 December 202112020 £43KI.
Oxford Diocesan Bucks Schools Trust IODBSTI was fomied in 2017 as a multi academy trust. Service
charges from OD8E to ODBSTfor project management, schools advisory and officer support during
2021 totaled £36K12020'. E37KI. The amount due to OOBE was £4K at 31 December 202112020:
£16KI.
ODBE confirms the appointment of directors so as to ensure that the Trust Boards comprises
individuals who will uphold the Christian ethos of the schools and have the ability to run a chain of
schools. Apart from confirming the appointments, ODBE plays no part in the day to day running of
ODST or ODBST. and ODST'S and ODBST'S primary accountability as multi academy trusts is to the
Secretary of State. Thus, there is no requirement to con501idate the financial statements of ODST
and ODBST with those of ODBE.
17. FINANCIAL COMMITMENTS
All future financial commitments for school projects are the responsibility of school governors and
are funded by amounts contractually due from the DfE, LAS or school governors directlv.
37

Oxford Diocesan Board of Education
Dirertors. Report and Financial Statements
For the Year Ended 31 Detember 2021
18. ANALYSIS OF NEf ASSETS BEfwEEN FUNDS
Fixed Assets &
Investments
Cash at
Bank
Debtors
Total
£'ooo
£'ooo
£'ooo
Endowment Funds
Hi115 Bequest for Schools
ODBE Thatcham & Newbury Charity
178
178
178
178
Totsl Endowment Funds
356
356
Restrlrted Funds
Building Improvement Scheme
Hills Bequest for Schools
ODBE Thatcham & Newbury Charity
Other
1,580
52
33
20
174
12381
1,516
52
164
20
131
Total Restricted In￿me Funds
131
1.685
174
12381
1,752
General Funds
964
128
15691
527
Total Net Assets at 31 December 2021
491
2,649
302
18071 2.635
38

Oxford Diocesan Board of Education
Dirertors, Report and Financial Statement5
For the Year Ended 31 December 2021
19. Prior Year Cornpayatlves
STA TEMENT OFFINANaAL ACTiwnES For the Yeor Ended 31 December2020
Unrestricted Restricted Endowment Total Funds
Funds
Funds
Funds
2020
Note
INCOMEAND ENDOWMENTS FROM..
Donatlons
Grantsfrom CSUST
Grantsfrom ODBF
Grontfrom DfE
Job Retention Scheme Grant
87
531
382
3,717
32
382
3,717
32
858
3.804
4,662
CharitableArtivitles."
School premises related income
School service ogreement
Troining and consultancy Services to
schools
Admission Appeals
315
227
139
315
227
164
25
725
2S
7SO
Investments
12
16
Total Income
1.587
3,841
5.428
EXPENDITURE ON." Charitable Artlvltles
School leadership ond governonce
SUPPOrt
School premises relatedsUPPOrt
Admission ondAppeols service
Total Expenditure
1,218
1,218
273
48
2,512
2,785
1.539
2.512
4.051
Net Income before gains on
Investments
48
1,329
1,377
Goins on Investments
20
28
Net income and net movement in
funds
1.337
20
1.405
Reconciliation offunds..
Totolfund5 broughtforward
363
569
291
1,223
Totalfunds corrledfonvard
411
1.906
311
2,628
39

Oxford Diocesan Board of Education
Directors, Report and Financial Statements
For the Year Ended 31 December 2021
STATEMENT OF FINANCIAL AcnviTIES For the Year Ended 310ecember 20201ConVd)
The Statement of Financial Activities ISOFAI includes all gains and losses recognised in the year. All
income and expenditure derives from continulng activities. The notes on pages 25-37 support the
above figures.
At 31 December 2020. the above funds were represented by the following net assets: _
FixedA55et5
Cosh at Debtors Liabilities
bonk
Totol
Investments
£'ooo E'ooo £'ooo
Endowment Funds
Restrirted Funds
Unrestricted Funds
311
114
311
1,906
411
2.201
493
60
108
1469)
(198)
Total
433
2,694
168
(667)
2,628
40