ODBE-24.20
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|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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**==> picture [126 x 22] intentionally omitted <==**
14 June 2024
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|||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|
##
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||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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**==> picture [445 x 295] intentionally omitted <==**
|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|
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|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)||||
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|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|
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|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|
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|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||||
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|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|
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|DEBTORS|||
|---|---|---|
||2023|2022|
||£’000|£’000|
|Amountsduewithinoneyear:|||
|TradeDebtors-relatedtobuilding projects|761|31|
|TradeDebtors-general|123|213|
|PrepaymentsandAccruedIncome|99|71|
||983|315|
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|ASHATBANK|||
|---|---|---|
||2023|2022|
||£’000|£’000|
|GeneralDepositandCurrentAccounts|3,118|3,443|
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|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|
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||||2023|2022|
|---|---|---|---|---|
||||£’000|£’000|
|Balance|at|1January|194|83|
|Amounts||addedincurrentyear|111|194|
|Amounts||releasedtoincomefromprioryears|(194)|(83)|
|Balance|at|31December|111|194|
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|||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|
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|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|
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||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|
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||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|
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|||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|
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|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|