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← Oxford Diocesan Board Of Education

2023-12-31-accounts

ODBE-24.20

Directors’Annual Report 2
ObjectivesandActivities 2
Achievementsand Performance 4
FuturePlans 6
FinancialReview 7
Structure,GovernanceandManagement 8
PrincipalRisksand Uncertainties 12
ReferenceandAdministrativeDetails 14
IndependentAuditor’sReport 16
StatementofFinancialActivities 21
IncomeandExpenditureAccount 23
BalanceSheet 24
StatementofCash Flows 25
NotestotheFinancialStatements 26
CE ChurchofEngland
CBF CentralBoardofFinanceoftheChurch ofEngland
CCLA CCLAInvestmentManagementLimited
CSUST ChurchSchoolsUniformStatutoryTrust
DfE DepartmentforEducation
DFC DevolvedFormulaCapital
DT(O)L DiocesanTrustees(Oxford)Limited
LA LocalAuthority
LCVAP LocallyCo-ordinatedVoluntaryAidedProgramme
MAT MultiAcademyTrust
ODBE OxfordDiocesanBoardofEducation
ODBF OxfordDiocesanBoardofFinance
ODBST OxfordDiocesanBucksSchoolsTrust
ODST OxfordDiocesanSchoolsTrust
Ofsted OfficeforStandardsinEducation
SACRE StandingAdvisoryCouncilonReligious Education
SIAMS StatutoryInspectionofAnglicanandMethodistSchools
SLA ServiceLevelAgreement
SLT SeniorLeadershipTeam
SOFA StatementofFinancialActivities
VASCA VoluntaryAidedSchoolsConditionAllocation

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14 June 2024

Unrestricted Restricted Endowment TotalFunds TotalFunds
Funds Funds Funds 2023 2022
Note £’000 £’000 £’000 £’000 £’000
INCOMEANDENDOWMENTSFROM:
Donationsandgrants Zul
GrantsfromCSUST 371 91 - 462 462
GrantsfromODBF 325 - - 325 319
GrantsfromDfE - 3,150 - 3,150 4,279
Otherdonation ~ 35 - 35 -
696 3,276 - 3,972 5,060
CharitableActivities: 2.2
Schoolpremisesrelatedincome 368 - - 368 414
Schoolserviceagreement 303 - - 303 286
Trainingandconsultancy
servicestoschools 163 20 - 183 155
AdmissionAppeals 32 - - 32 37
866 20 - 886 892
Investments 2.3 34 16 - 50 65
OtherIncome 2.4 - 3 ~ 3 -
TotalIncome 1,596 3,315 - 4,911 6,017
EXPENDITUREON:CharitableActivities
Schoolleadershipand
governancesupport 1,119 - - 1,119 1,238
Schoolpremisesrelatedsupport 263 4,481 - 4,744 3,698
AdmissionandAppealsservice 34 - - 34 52
TotalExpenditure a1 1,416 4,481 - 5,897 4,988
Net(expenditure)/income
beforegains/(losses)on 180 (1,166) - (986) 1,029
investments
Gains/(losses)oninvestments 8 - 11 30 41 (57)
Net(expenditure)/income
andnetmovementinfunds 180 (1,155) 30 (945) 972
Reconciliationoffunds:
Totalfundsbroughtforward 680 2,613 314 3,607 2,635
Totalfundscarriedforward 860 1,458 344 2,662 3,607

Total Total
2023 2022
£’000 £’000
Income 4,911 6,017
Expenditure (5,897) (4,988)
Operating(deficit)/surplusfortheyear (986) 1,029
Netgains/(losses)oninvestments 11 (15)
Net(expenditure)/incomefortheyear (975) 1,014

2023 2022
Note £’000 £’000
FIXEDASSETS
Tangibleassets 7 5 5
Investments 8 471 430
TotalFixedAssets 476 435
CURRENTASSETS
Debtors 9 983 315
Cashatbank 10 3,118 3,443
TotalCurrentAssets 4,101 3,758
Creditors:Amountsfallingduewithinoneyear 11 (1,915) (586)
NetCurrentAssets 2,186 3,172
TotalAssetsLessCurrentLiabilities 2,662 3,607
NETASSETS 2,662 3,607
THEFUNDSOFTHECHARITY
EndowmentFunds 13 344 314
RestrictedFunds 14 1,458 2,613
GeneralFunds 860 680
TotalCharityFunds 2,662 3,607

2023 2022
£’000 £’000 £’000 £’000
Netcash(usedin)/providedbyoperatingactivities (372) 732
(Below1)
Cashflowsfrominvestingactivities
Dividendsandinterestreceivedfrominvestments 50 65
Purchaseof:
Tangiblefixedassets (3) (3)
Netcashprovidedbyinvestingactivities 47 62
Changeincashandcashequivalentsinthe
reportingperiod		 (325) 794
Cashandcashequivalentsat1January 3,443 2,649
Cashandcashequivalentsat31December(Below 3,118 3,443
2)
Reconciliationofnetmovementsinfundstonet
cashflow(usedin)/providedbyoperating
activities
Netmovementinfundsfortheyear 972
Adjustmentsfor:
Depreciationcharges
(Gains)/lossesoninvestments
Dividendsandinterestreceivablefrominvestments
Increaseindebtors
Increase/(decrease)increditors
Netcash(usedin)/providedbyoperatingactivities
(Above1)
Analysisofcashandcashequivalents
Cashatbank(Above2) 3,118 3,443

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2.2 IncomefromCharitableActivities 2023 2022
£’000 £’000
Schoolpremisesrelatedincome 368 414
SchoolServiceLevelAgreements 303 286
Trainingandconsultancyservicestoschools 163 137
AdmissionsAppeals 32 37
TotalUnrestrictedIncomefromCharitableActivities 866 874
RestrictedincomefromTrainingandConsultancyServicesto 20 18
Schools
TotalIncomefromCharitableActivities 886 892

2.3 IncomefromInvestments £’000 £’000
InterestReceivable—Unrestricted 34 52
InterestReceivable—Restricted 3 -
DividendsReceivable—Restricted 13 13
50 65
2.4 OtherIncome
2023 2022
£’000 £’000
RentalIncome 3 *
TotalRestrictedIncomefromOtherIncome 3 ;
TherentalincomerelatestoWoottonSchoolHouse(Seenote14)

3.1 ExpenditureonCharitableActivities ExpenditureonCharitableActivities
2023 2022
Direct Support Total Total
Costs Costs Costs Costs
(Note3.2)
£’000 £’000 £’000 £’000
SchoolsLeadershipandGovernanceSupport 950 169 1,119 1,186
SchoolPremisesRelatedSupport 203 60 263 22a
AdmissionsandAppealsService 30 4 34 52
TotalUnrestrictedExpenditure 1,183 233 1,416 1,463
SchoolPremisesRelatedSupport andCapital 4,481 - 4,481 3,525
Grants
TotalRestrictedExpenditure 4,481 - 4,481 3,525
TotalExpenditureonCharitable Activities 5,664 233 5,897 4,988
3.2 SupportCosts
SchoolLeadership School Admissions
2023		 2022
&Governance Premises &Appeals
Total		 Total
Support Related Service
Support
£’000 £’000 £’000 £’000 £’000
Governance(Note3.3) 18 7 - 25 21
Finance 49 18 1 68 69
InformationTechnology 22 8 1 31 36
HumanResources 21 8 1 30 30
OtherOverheadCosts 59 19 1 79 74
Total 169 60 4 233 230
3.3 GovernanceCosts
2023 2022
£’000 £’000
AuditFees 16 11
StatutoryCostsandLegalFees 9
CommitteeCosts - 1
25 21

asfollows:
2023 2022
Average Fulltime Average Fulltime
Headcount
Equivalent		 Headcount
—		 Equivalent
SupportforCharitableActivities 18.4 14.9 19.0 15.4
AdminSupport 2.0 1.4 2.0 1.4
Total 20.4 16.3 21.0 16.8
Staffcostsduringtheyearamountedto:
2023 2022
£’000 £’000
WagesandSalaries 845 871
PensionsContributions 177 186
SocialSecurityCosts 89 102
Total 1,111 1,159
Thenumberofemployeeswhoseemolumentsfortheyear(including benefitsinkindbutexcluding
employer’sNationalInsuranceandpensioncontributions)exceeded £60,000wereas follows:
2023 2022
£60,001-£70,000 5 4
£70,001-£80,000 1 1
£80,001-£90,000 - -
£90,001-£100,000 - -
£100,001-£110,000 1 1

ANGIBLEFIXEDASSETS
Computer Office Total
Equipment Equipment
£’000 £’000 £’000
Costat1January2023 30 5 35
Additions 3 - g
Disposals (22) (5) (27)
Costat31December2023 11 - 11
Depreciationat1January 25 5 30
2023
ChargefortheYear 3 - 3
Disposals (22) (5) (27)
Depreciationat31 6 - 6
December2023
Netbookvaluesat31 5 - 5
December2022
Netbookvaluesat31 5 - 5
December2023

NVESTMENTS
Endowment Restricted Total
Funds Funds
£’000 £’000 £’000
MarketValueat1January2023 314 116 430
UnrealisedGainsintheYear 30 11 41
MarketValueat31December2023 344 127 471
HistoricalCostofInvestments 20 75 95

DEBTORS
2023 2022
£’000 £’000
Amountsduewithinoneyear:
TradeDebtors-relatedtobuilding projects 761 31
TradeDebtors-general 123 213
PrepaymentsandAccruedIncome 99 71
983 315

ASHATBANK
2023 2022
£’000 £’000
GeneralDepositandCurrentAccounts 3,118 3,443

CREDITORS
2023 2022
£’000 £’000
Amountsfallingduewithinoneyear:
TradeCreditors-relatedtobuildingprojects 164
TradeCreditors-general 135
OtherCreditors-general 113
OtherCreditors-restricted 847
AccrualsandDeferredIncome(Note13) 126
VASCAaccrual 470
TaxationandSocialSecurity 60 66
1,915 586

2023 2022
£’000 £’000
Balance at 1January 194 83
Amounts addedincurrentyear 111 194
Amounts releasedtoincomefromprioryears (194) (83)
Balance at 31December 111 194

Balanceat Balanceat Investment Balanceat
1 January Gains 31December
2023 2023
£’000 £’000 £’000
Hills BequestforSchools 157 15 172
ODBE Thatcham&NewburyEducationalCharity 157 15 172
Total 314 30 344

RESTRICTEDFUNDS
Balance at Income Expenditure Investment Balancesat
1January 2023 Gains 31December
2023
£’000 £’000 £’000 £’000 £’000
BuildingImprovementScheme 401 91 (91) - 401
VASCAgrant 984 3,150 (3,324) - 810
HillsBequestforSchools 34 6 - - 40
ODBEThatcham&Newbury 113 10 3 11 137
EducationalCharity
DFCEnergyGrants 1,051 - (1,051) - -
WoottonSchoolHouse - 38 (1) - 37
Bayne Benefaction 30 20 (17) - 33
Total 2,613 3,315 (4,481) 11 1,458

FixedAssets& Cashat Debtors Liabilities Total
Investments Bank
£’000 £’000 £’000 £’000 £’000
EndowmentFunds
HillsBequestforSchools 172 - - - 172
ODBEThatcham&NewburyCharity 172 - - - 172
TotalEndowmentFunds 344 - - - 344
RestrictedFunds
BuildingImprovementScheme - 401 - - 401
VASCAgrant - 1,428 14 (632) 810
HillsBequestforSchools - 40 - - 40
ODBEThatcham&NewburyCharity 127 9 i - 137
WoottonSchoolHouse - 2 35 - 37
BayneBenefaction - 33 - - 33
TotalRestrictedIncomeFunds 127 1,913 50 (632) 1,458
GeneralFunds 5 1,205 933 (1,283) 860
TotalNetAssetsat31December2023 476 3,118 983 (1,915) 2,662

2023 2022
£’000 £’000
SchoolBuildingImprovements&ITEquipment 8,747 1,372
Fundedby:
DepartmentforEducation(DfE)—DFC 460 486
LocalAuthorities(LAs) 7,850 383
SchoolGovernorsandother 437 503
8,747 1,372

Unrestricted Restricted Endowment_ TotalFunds
Funds Funds Funds 2022
Note £’000 £’000 £’000 £’000
INCOMEANDENDOWMENTSFROM:
Donations 2.1
GrantsfromCSUST 371 91 - 462
GrantsfromODBF 319 - - 319
GrantfromDfE - 4,279 - 4,279
690 4,370 ~ 5,060
CharitableActivities: 2.2
Schoolpremisesrelatedincome 414 - - 414
Schoolserviceagreement 286 - - 286
Trainingandconsultancyservicesto 137 18 - 155
schools
AdmissionAppeals 37 - - 37
874 18 - 892
Investments 23 52 13 - 65
TotalIncome 1,616 4,401 - 6,017
EXPENDITUREON:CharitableActivities
Schoolleadershipandgovernance 1,186 52 - 1,238
support
Schoolpremisesrelatedsupport 225 3,473 - 3,698
AdmissionandAppealsservice 52 - - 52
TotalExpenditure 3.1 1,463 3,525 - 4,988
Netincomebeforegainson
investments 153 876 - 1,029
Lossesoninvestments 9 - (15) (42) (57)
Netincome(expenditure)andnet 153 861 (42) 972
movementinfunds
Reconciliationoffunds:
Totalfundsbroughtforward 527 1,752 356 2,635
Totalfundscarriedforward 680 2,613 314 3,607

At31December2022,theabovefundswererepresented At31December2022,theabovefundswererepresented bythe followingnetassets:- followingnetassets:-
FixedAssets Cashat
Netcurrent		 Total
& bank assets
Investments
£000 £’000 £’000 £’000
EndowmentFunds 314 - - 314
RestrictedFunds 116 2,789 (292) 2,613
UnrestrictedFunds 5 654 21 680
Total 435 3,443 (271) 3,607