Company registered number (England & Wales) 08334622 Charity registration number '. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 •,& DIOCESE OF all LINCOLN The Diocesan Bnard nf Education LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number '. 1151733 Report of the Dlrector of Education 2023 wa5 arkother eventful year and the Lincoln Diocesan Board of Education ILDBEI continued to provide high quality and reliable sUPPOrt for it5 church schoo15 and academies during this time. In early 2023, the education world was very distressed by the tragic death of Ruth Perry IHeadteacher from Caversham Primary School in Berkshire) following an OFSTED inspection at her School. School leaders in our diocese regularly seek our pastoral support and guidance, stating that OFSTED is a significant pressure, amongst other issues, they face. To support our schools with inspection, we have provided school improvement partner programmcJJ updatcs and guidance at hcadtcachcr and govcrnor bricfins" and whcn thc ochool get the call we are there to speak to the inspector, attend the feedbacks and ensure we are available to assist the school as required. The LDBE also formally wrote to OFSTED and the Department for Education IDfEI to express their concern and to request a review of the inspection processes. We have been reassured that the nature and conduct of inspections are now under review. Although the vast majority of our church schools have had successful OfSTED inspections, there have been a very small minority that have been judged 'requires improvement, for a secorbd consecutive time. As a consequence, the DfE has issued five schools with an Academy Order. To ensure the Schools receive the support they need and to ensure that their Christian foundation is preserved 2nd developed, the LDBE has developed its Diocesar) Strategy for Acadcmisation. A new public facing documcnt to promote thc Strategy wa- approved by thc LDBE and published in the latter half of the year. As part of this Strategy. the LDBE is supporting the growth of development of church MATS so that all church schools that want or need to go into a church MAT can do so, subject to due diligence. To support the development of church MATS, the LDBE team completed the first annual cycle of MAT Partnership visits to every academy within a MAT. A report for each academy and the Trust was provided to celebrate the strengths and agree the areas for development. The LDBE also planned and hosted the first church MAT CEO network Meeting in December 2023. This provided an opportunity for CEOS and the LDBE team to discuss the strategy for church MAT5 we have in the diocese of Lincoln. More of these CEO network meetings will take place in 2024. Throughout 2023 we experienced the greatest turnover of church school headteachers in a year, partly due to ihe preJSufc5 thcy facc. The LDBE worl¢ed with school govcrnor" to appoint o total of 24 headteachcr: or executive headteachers. Thi5 was a significant piece of work as we always support schools with every stage of the recruitment process. There were times when the school didn't appoint the first time round and 50 the LDBE supported governors with additional recruitment processes and to secure interim leadership. In 2021, thp LDFIF tpam &iJppartp.d thurth £choDl£ and academies to prepare for the introduction of the new church school inspections framework ISIAMS- Statutory Inspection of Anglican and Methodist Schools). This work involved members of the team attending national training, and developing diocesan training and materials for schools. We have supported schools with bespoke reviewg of their church school distinctiveness and their readiness for inspection. We ensured schools on the list for inspection received early Service Level Agreement visits. In November 2023, we delivered a very succe55ful SIAMS conference for about 90 ochool leader-. very plcaaing to rcport that SIAMS outcomes for all schools inspected in our diocese have been very positive. In May 2U23, another key national event wa5 the King s Loronation. The LOBE ensured that schools had acces5 10 range of resourtes so that pupils and adults were able to learn about and celebrate the historic event. LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number .' 1151733 Ir) the diocese of Lincoln, we also had our very own momentous occasion-the Enthronement of our new Bishop of Lincoln, the Rt Reverend Stephen Conway. The LDBI 15 absolutely thrilled that Bishop Stephen 15 our new Bishop because he is a real advocate for education, children and young people. We were delighted that he requested pupils from church schools to be at the heart of his Enthronement. The LD8E team worked with schoo15 to lead a special collective worship before the main Cathedral service. The children then escorted the Bishop to the Cathedral and took part in the special event. In November 2023, 1 was delighted to be invited by the Bishop of Lincoln to become a Lay Canon of Lincoln Cathedral. Although this is a personal honour, it is also another way that the Bishop is promoting the importance of church school education in the diocese. In 2023 LDBE developed its new vision for education. The Li)EIE team worked closely with the LDBE directors, Bishop's staff and Schools to develop a vi510n that is thg.nlngir.ally rnntpd and hiehly aspirational for all chLirch schools and academies. Our vision underpins all the work we do to develop high quality church educatioJi in the diocese of Lincoln. We launched the vision in October by leading 3 virtu31 collective worship for all schools. We articulated the vision through animation, images, song, story, prayer and reflection. PLJpi15 attendin% the Church school Festival helped design our new vision logo. These materia15 and other resources to help schools interact with our vision are available on the diocesan web51te. More details about our vision can be found on pages 4 & 5 of thi5 document. kn￿wI￿d￿8a￿du￿dQt5I￿r￿ln1. GOd.Iveonipowei on Church 5(hoolfamllyto1￿eQ￿ebnot￿erivrtfv Oul vlSbnlstheDIoBkalty rooted ￿n ih¢sic(yoiMoses artd IheBuT4w14 IEi¢dvS 3.'3-11 4p We started the year of 2023 with 141 Church of England Schools. l am delighted to say that we ended the year with 142 schools. We welcomed Fu15tow school in the church school family. LDBE worked closely with governors, the Local Authority and the Department for Education through arduous bureaucracy to officially regain the school's church school status after it was somehow lost at the turn of the 20, century. The Chair of LDBE and I attK>nd@d a very speci31 commissioning service at the school's local parish church. Throughout the year, the LDBE team has continued to be hardworking, enthusiastic and committed to serving cliurcli scliools aiid pi vvidiii¥ ilieiii wiLlI LI1￿ suypvil Iliey iieed for <111 adult5 and pupi15 to flourish. My thanks go to the LDBE directors and the education team for all they have done to support church schools in 2023. Canon Paul Thompson Diocesan Director of Education Contents Report of the Director of Education............................................................................................... Objectives Activities..........................................................-......................... Arhig.vg.mg.nt% and pg.rf()rmance... .11 Financial Review.................................................................-.................................................. .19 Plans for future period5.... .21 Factors affecting our success.............. .23 Statement of Trustees. Responsibilities........ Disclosure of information to Auditor.............................-..................... -24 Structure, Governance and Management.............................-.......................... .25 Reference and Administrative Details of the Charity.. itemised .30 Independent auditorfs report to the members of Lincoln Diocesan Board of Education............................. .32 Statcmcnt of Financial Artivities .35 Balance Sheet ................ .36 Statement of Cash Flows .....-............................ .37 Notes to the Financial Statements .38 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FnR THF YFAR FNnFf) 41 fJFC.FMRFR 2n2.4 Company registered number '. 08334622 Charity registration number.. 1151733 The Trustees present thelr repori and audlted flnancial statements for the ye thg. r.nmmnn Eood in deeply Christian ways. Tlii5 15 our visivi). We CARE. We have been very clear with schools that our vision is not to serve as their own school vision. It also does not replace the Church of England's national vision for education. It 15 important for schools to relate to the national and diocesan vision for education and consider how the Church of EnEl3nd lat national, diocesan and parish levell C3n work with schools to fulfil the bespoke vision they have for their own unique communities_ Many schools have welcomed the diocesan model for developing a vision that has deep theological roots. It is evldent In 5choo15 that the national vision and dioce5(111 Visiuri 15 5uppuI liri¥ ill￿ wui k iii SLliuul>. AILlivu¥li Qui- new vision has not been in place for long, it is shapin8 every decision, every policy and aspect of our work with Schools. LINCOLN DIOCESAN BOARD OF EDUCATION TRU5TEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number - 1151733 The diagram below 5how5 how thc national and dioceJan vision hclp4 SUPPOrts and :hapes the bespoke vision schools have for their own unique communities. CEEO LDBE- OUR PROMISE TO SCHOOLS Deeply Christian, Serving the Common Good, with J@sus' promise of 'life in all its fullness, at its l)eart. Believing we are called intofellowship with God who seeks thellourishing ot oll we aspire to strengthen our school communities with wisdom, knowledge and understanding. Through partnershipsfirmly rooted in Christian hope and in the love of God, we empower all in our Church school family to love one another with humilityi justice ond kindness. CAILEDASPIRATIONAI ROOTED EMPOWERING School Vision Wisdom, Hope, Cnmmijnity and Dignity Strategy The LDBE developed a strategic plan for 2021 to 2024 to set out its key operational approache5 for carrying out the functions of the DBE Measure 2021 and realising the national and diocesan vision for education. The plan 15 organised Into four key section5 which relaie 10 our core buslness.. SIAM5, RE and Colleciive Worshipj Promotin¥ and Sustaining Good Church Schoo15, and Partnerships. The strategic plan addresses key priorities from a national, diocp_£an and school perspective such as strengthening Eovernance, promoting diver51tV and ensuring high quality RE is taught in all schools. The plan is designed with some flexibility to accommodate emerging priorities. In September 2023, we ensured the plan incorporèted emerging priorities identified in OFSTED and SIAMS inspection reports, the new Church of England Education Office publication entitled 'Our Hope for a Flourishing School System, and the Lincolnshire Education Group's 'One Plan.. The LDBE team meet regularly to monitor the progress made in the detailed operational plans that Sit behind the StrateEiC overview. Evaluations and RAG (Red, Amber, Greenl ratings are presented to the LDBE directors each term so they are able to appropriately hold LOBE team leaders 10 accouni. Public Benefit In determining the activities, the charity will pursue, the Board has had due regard to the guidance on Public Benefit issued by the Charity Commission. LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number .' 08334622 Charity registration number '. 1151733 LD8E works with the various partners described on pages 27 to 29 and with the 142 Church Schools within the diocese. Services are generally delivered to schools and to teachers, but the Board and Staff are continually aware of the impact of its work on the pupils and stLJdents within the schools. then on the wider community. Risk management The key fir¢ancial, educational and reputational risks, to which the charity is exposed, as identified by the Trustee5, has been reviewed and systems established to manage those risks. The Risk Register provides detailed information about the risks to the charity, the potential consequences if the risks are not managed, the actions being takeri and a RAG rating of how well the risks are being managed. An example of key risks and actions beinB taken are as follows.. Insufficient growth in number of majority church MATS Actions include a strategy to develop up to 6 majority MAT5. The LDBE team is working Wlth existing MATS to facilit2te 8rowth 2nd development. There are onBoing conversations with non-church MATS to become church MATS. The LDBE have embedded a rigorous process to identify and establish two new MATS. IiTrdLJility tv (ItJtJiiiiit 5Ultably skilleil foundatioii govei-iiors Actions include enabling the Governance and Compliance Lead to develop systems and processes for recruiting new foundation governors. The LDBE team provides external reviews of governance and governor training. A new MAT toolkit has been developed to strengthen local governance in MATS. Inability to maintain links between schools, the church and the clergy to understand their role to protect and develop distinctively Christian education in their local church schools The LDBE is continuing to engage in the diocesan wide project, 'Time to Change Togetherf to ensure schools have gr)nd link% with thp Inral r.hiJrrh r.nmmunity follttwing dincpsAn reorganisation. The LDBE is also engaging with the Church of England Education Office to promote links between church, School and home (Growing faith Adventurel. Inability lo recruit appropriately skilled and qualified people to the LDBE team. Actions include training and deployment of Associate 2dvisers to support central team. I he LUtJE continues to review and develop policies and terms and condiiioris on a regular balis. There Is robust induction. appraisal and training for staff to ensure the team is well placed to meet the needs of the organisation and schools- considering staff workload and wellbeing. Inability to support LAS and schoo15 robustly enough to improve and maintain slandards of education Action5 include diocesan advisers supporting and challenging LA and school leaders on issues impactinR on qualitv of education. The LDBE has embedded robust and effective Head Te3cher Performance Management IHTPMI service for schoo15. The Diocesan School Effectivenes5 Adviser has further developed the HTPM programme and school improvement offer. Disruption and business continuity ActlOn5 include the Senior Leader511ip Tedtri rv5pviidiiig Lv ¥vvgiriiFieriL ¥uiUdllLe diid IldLiuiidl diid luLal restrictions accordingly. The LDBE have the 5yStem5 in place to maintain close relationships and stay in contact with schoo15 when face to face vi51ts are not possible or feasible e.g. zoom. A new electronic file management system has been developed to enhance security and remote working practices. Break even budget moving to profit Actions included regular reviews of diaries and income generation streams e.g. course delivery, development of new training resources to adapt and develop new way5 of working in the future. In 2023, we began focussing our LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity re8iStration number . 1151733 time on more cost-effective course delivery models e.g. termly conferences instead of lots of smaller central twili8ht sessions. Completing the sale of surplus assets to generate funds to invest remains a key objective. The aim, to increase the annual financial return from the investment portfolio. The LDBE keep5 the investment strategy under review to ensure the returns are maximised. In 2023, LDBE appioved a iliovv to Toldl Re(ui 11 dLLuuiILiiix tu il)dXi11115¥ luri¥ leiiii tJuLeiilidl of iiive5tiiiei)t5. Actlvltles The activities that LDBE has undertaken throughout 2023 to further the charity's purpose for public benefit are listed under four core functions which relate to the DBE Measure 2021. They are To promote or assist in the promotion of education in the diocese that is consistent with the faith and practice of the Church of England (with a focu5 on SIAMS- Statutory Inspection of Anglican and Methodist Schools) > To promote or a5515t iii the pi"omotion of religiou5 education and religiou5 worship in schoo15 in the diocese > To promote or assist in the promotion of church schools in the diocese Iwith a focus on school improvement to sustain good church schools) > To promote co-operation between itself and other persons concerned with education in the diocese Ipartnershipsl. AREA l- To promote or assist in the promotion of education in the diocese that is consistent with the faith and practice of the Church of England (with a focus on SIAMS- Statutory Inspection of Anglican and Methodist Schools) In Scptembcr 2023, a ncw SIAMS inspection framework wa- introduccd. Prior to this, we have supported every church school insperted to get at least good in SIAMS. Under the new inspection framework, we have supported every church school inspected to get judgement l. > We have developed and implemented a programme to support school leaders to develop confiderbce in biblical literacy. > We have supported and challenged developmerbt5 In dlver511y, Includlng developing dlversity in leadership at all levels. The Diversity, Equity and Inclusion IDEII working party continues to champion the promotion of diversity. equity and inclusion. > To ensure adults in church schools are able to flourish as people made in the image of God, we have developed the wellbeing and pastoral offer for schools. We have supported church schools communities to develop a shared understandirbg of spiritual development which support schools to develop everyone spirituallv. AREA 2 - To promote or asslst In the prtsmotlon of reliElous education and religious worship in schools in the diocese > We have continued to develop the capacity of RE Support for church and community 3choo13 beyond the RE adviser through the Associate Diocesan RE Advisers. LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 310ECEM8ER 2023 Company registered number . 08334622 Charity registration number '. 1151733 We have continued to support schools with collective worship In relation to the revised SIAMS framework. with a particular focu5 in how pupils and adults spiritually flourish throush the worship of the school. We have continued to develop support for high-quality secondary RE. The RE adviser has worked with secondary RE specialists and researchers to further develop the impact of current provision. The collective worship leads network continues which allows networking and sharing of ide35 to support worship In schools > We have continued to work on the highly 5ucce5sful Empowering Voices project, which originated in the REConnecting Lincolnshire programme. so that it ha5 a wider impact on schools and communities across the country. > We have continued to raise the profile of Religious Education in schools in the diocese. This has included the RE Adviser successfully delivering the RE Council Worldviews Project. > We have continued to support schools to effectively monitor pupil progress and attainment in RE. This work has resulted in 3 professional development résource for teachers and leaders rooted in the action research c8rried out in the previous year. AREA 3- To promoie or asslst In the promotlon of church schools In the dloce5e Iwlth a focu5 Oll school improvement to Sustain good church schools) > We have strengthened governance in church schools, academie5 and MAT5. Th15 has involved developing training, networking and communication to ensure all Involved in governance are aware of key responsibilities in church 5chool5. > We have continued to evaluate the capacity and impact of staffing to effectively fulfil the Strategic objectives of LDBE. This has involved ongoing monitoring and evaluation of finances, capacity, workload, staff wellbeing, staff effectivenes5. We have continued to ensure LDBE employees are able to flourish. This has involved ensuring pastoral and wellbelnE needs of LDBE team are met wlth the rlghr suppori and re50urce5 in place to rnanage workload, health and wellbeing. We have continued to support and develop future church school leaders at all levels. This has involved promoting national leadership programmes to all schools and sUPPOrting governors to recruit high qualitv school leaders. We have continued to strengthen the School Improvement Partner offer with a focus on supporting vulnerable schools to provide a high-quality education for all pupils. This has involved working effectively with external partners and governors to support schools that are less than good (Ofsted and/or SIAMS) to become good church schools. > We have increased capacity to 5UPPOrt secondary schools. This has involved developing support mechanisms for secondaries through collaborative partnerships lacross dioceses and across primarylsecondary schools). We Iidve piuvitjed suppur L diid ¥uitJtaiiLe fui Govvri)iiig Board5 of siiiall 511iools to secure è Sustainable future. This has involved working with key stakeholders le.g. LAI to develop a strategy to support oVernin￿ bodies of small schoo15 to evaluate current provision and long-term sustainable options. We have further developed the LDBE MAT strategy and provided clear guidance for schools exploring options. This has involved publishing a new public facing document to support the growth and developmerkt of church MATS. LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number . 1151733 In addition, we have effectively implemented the MAT Partnership Agreement IMPAI and monitored its iiriydLt ill VlLlvr lu develop futui-e plaiis. > Withir) the LDBE team, we have developed financial and business transparency. This has involved increasinR staff awareness of LDBE financial planning, analysing current income stream5 in light of changirbg educational environment in order to mitigate risk5 to financial sustainability. We have undertaken further training and developed systems and process to ensure compliance with GDPR legislation. > We have continued to ensure the LDBE relationship with all church MATS is equally strong. This have involved developing commLinications and SLipport for 311 chijrrh MATS pEtahlishg.d thrDuEh MAT Partnership Agreements, CEO networking meetings and MAT presentations to the LDBE. > We have developed ancl delivered a new package of support to enable schools to improve provision for SEND and disadvantaged pupils. AREA 4 - To promote co-operation between itself and other persons concerned with education In the diocese Ipartnershlps). 5> We have f05tered connectedness 3cross the church school family through effective commLinication. We have further developed good quality communication between LDBE and school leaders. We have tracked engagement of all church schools and developed plans to connect more effectively with those that do not currently engage with us. We have worked hard to be a valued partner of key educational organisations/stakeholders. We have ¥sLdkJlislied SULLesslul wui kiiig partiiei sl)ips Wltli tlie Te4cliin8 School, Lincolnshire Education Group. Local Authorities, Church of England Education Office and associated bodies, e.g. CEFEL and AADE in order to ensure our serviceg complement and support those offered by external partners. > We have ensured that LDBE is an integral part of the conversation 3bout 'Time To Change Togetherf the wider diocesan programme for transformational reform. > We have ensured we are a valued partner ot church and other Christian organisations. I his ha5 Involve developing partnerships with the Growing Faith Foundation to foster connections between church schools, Churches and families. > We have continued to engage in the work required to meet the Church of England aspiration of net zero by 2030 and related to the DfE guidance on environment, climate and sustainability. We have continued to advise schools on how to reduce their carbon footprint. Courses, conferences and festivals During Covid, when all courses were delivered online and there was less travelling for officers, the number of courses nearly doubled. This was due to many of the courses beinR shorter, to accourbt for being online and having space in the diaries to be able to do this. As the team have now increased their travelling and there has been lower delegate numbers on courses, due to numbers of delegates being spread across many courses, the decision was made to have fewer small courses in the year and to introduce two more conterences. This means there are now three conferences la5 there is already an annual leadership conference) where delegates can attend, network and receive information on a particular topic. This is 3 more effective use of time for the srhnnls and the education team. By reducing the number of courses throughout the year, it also frees up time for officers to run bespoke sessions in schools. Looking at the data from previous years, it was clear that the demand for these types of 5e55ions has io LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registereij number .' 08334622 Charity registration rkumber . 1151733 increased. This new way of working started irb September 2023 and resulted in a successful SIAMS conference In November 2023, and a higher number of delegates on the online courses from September to Deccmber 2023. Topics for training events include, in addition to RE and Christian Distinctiveness and Collective Worship courses, training related to pupil and statt mental health and well-being- preparing for Ufsted and 51AM5 Inspection- spirituality,. Inclusion,. Governing Body training- networking and support for school leaders. LDBE continues to insist on high quality leaders and speakers for all the conferences, to ensure schools get the best support they need to be successful church schools. The Church School Festivals for infant and primary schools continue to grow in popularitv Since the reintroduction in 2022. In 2023, an extra day was added to the event to increase from 7 days to 8. This ensured 35 many schools as possible, who expressed an interest, could attend. The carol service in 2022 was so successful and tull, the team decided to see if this could be replicated elsewhere in the diocese, partly to help schools with travel costs, as well as introducin8 them to other churches across the diocese. Unfortunately. there was not the uptake in the two other churches and the feedback was that people want to come to Lincoln Cathedral. The Cathedral carol service wa5. once again, 5ucce$5ful with many parents joining the service to see their children involved. Achievements and performance LDBE Strategic Overview Education SIAMS inspections Since January 2023, there have been twenty-three SIAMS inspections carried out in the Diocese of Lincoln. Twenty of thpsp were ¢arriK*d oijt ijnder thp prpviniiE in%pprtinn fr2mpwnrk,' af thp%g.. %ix £chool% received the top grade of Excellent and fourteen received a Good grading. Under the new framework, three schools have received judgement l. The Diocesan RE and SIAMS Adviser is now working as a SIAMS inspector, as well as delivering training and support for schools in the Diocese preparing for SIAMS inspection. SIAMS was also the focus of a conference held for school leaders this year. The education team have continued to provide SIAMS support and training for schools through virtual course5, bespoke reviews and SLA visits. A Significant number of schools that are expecting inspection in the next year are acce55ing this training and support. School leadership Partnerships The diocesan education team have continued to work closely with a variety of organisations to support church sthools. Strategy meetings with the Loc81 Authorities has taken place mostly through virtual meetings which have been productive in providing collaborative 5UPPOrt and advice to schools. The LDBE senior leadership team continues to be a member of a number of partnership boards including the Lincolnshire Education Group, the North Lincolnshire Education Standards Board and LA School Forums. li LINCOLN DIOCESAN 80ARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number.. 1151733 Officers meet with representatives from the schoo15' leadership team, Local Authority, DfE, teaching schools, His Majesty's Inspectorate IHMII alid Of5ted to provide tailored support foi" schoo15 iii focu5. The LDBE continues to support and deploy Associate Advisers to enhance the capacity of the LDBE team. A5SOClate advisers are serving Head teachers with the knowledge and proven track record in church school leadership to be able to support other schools. They are briefed on national and diocesan policy and provided with templates and website resources to support schools in Service Lével Agreement visits. The Associate Advisors and other experienced headteachers undertake mentoring roles foi new headteachers when required. Support for Schools Service Level Agreement In 2023, 121185%) of all Church of England schools chose to subscribe to the Diocesan Service Level Agreement ISLAI12022-1161. There are increasingly Significant financial pressures on school budgets, which ha5 resulted in some schools nor being able to buy into the SLA. A Diocesan Officer or a Diocesan Associate Adviser (who is usually a current servin8 Head teacher) make5 an annual SLA support visit to every school. These visits have enabled the team to have a clearer insight in to the schools, strengths and areas for future development. Through these visits the team have been able to celebrate successes with the schools, identify and share good practice and provide appropriate sUPPOrt. Since the introduction of the National SIAMS team producing a list of schools that may be inspected in a particular academic year, diocesan officers have offered schools on the list an autumn term visit, rather than wait for the summer term, to make sure they feel prepared for the Inspection. This has proved uccc...ful and popular and will continuc, movin8 forward. Schools in Focus Through partnership meeting5 Wlth the Local Authorities, school visits, inspection report5 and data record5, we have a good overslghr of church school performance. We maintain comprehensive confidential records about schools showing a vulnerability and in need of careful monitoring, support and challenge. The vulnerability may include one or several of the following issues- poor inspection outcomes,. below average pupil outcome5,' Unstable or weak leader5hip,' staff recruitment 3nd retention,. underdeveloped curriculum,. financial issues and general concerns about capacity to SUStain a good quality of education for all pupils. Five church schools became eligible for DfE intervention as they had received a second 'requires improvement, judgement. We are working with the DfE and school/MAT leaders to ensure that these schools secure a sustainèble future. Al tli¥ sLtai L ul 2023, Llivre Wd5 d lii¥li piuyviliuii150%1 vl siliuvls rvividgd iv bv fdLlllg di IgdSl ul ilie challenges listed above. The most common vulnerability was end of Key Stage 2 IK521 outcomes for pupils being below averaRe in onÈ or more core subject. The Lincolnshire avera%e at KS2 was below the national aVera￿e for all schools. 12 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number . 1151733 However, with the intelligence we have about schools, we have been able to work with school leaders and key partners, such as the Local Authorities and teaching 5choo15, to provide support and challenge needed to improve the quality of education in schools. For example, supporting the recruitmerbt of new heads. training for subject leaders, strengthening Eovernance, headteacher performance management and developing vision. More details about our school improvement offer can be found on page 15. Esy the end of 2U2J, the number of schools In focus reduced from 50% to 40%. A key reason for the reductlon Is that schools in receipt of support achieved a 'good' OfSTED inspection. We continue to work with our rnllahnrativp partnprs tn rgdur.p thÉb. numbèr further. Headteacher recruitment We had an unprecedented number of headteachers resign from their post5 during 2023. In total, the LDBE team 5UPPOrted 24 recruitment pro¢eJSCS affccting 29 Jchool-120% 0* dchoolsl. The main reasons for he3dteacher resignations were retirement1101, promotion to more senior posts or bigger schools161, relocation111, changes to leadership structure121 and resigning to move out of education151. To ensure the recruitfflent process is rigorous, the Diocesan Director or Education IDDEI invests a lot of time helplng the governors To develop hlgh quallry recrultment pack5 and well-5tructurgd s¥l¥iLivii dLLiviLies. Tli¥ DDE attended all shortlisting and interview days and advised governors if candidates are appointable or not. Recruiting high quality headteachers is a challenge for schoo15. We supJ)orted six schools to secure Six Interim leadership solutions for September. Induction visits take place for all new heads appointed and they are provided with a mentor, guidance and support needed to lead a church school. All heads appointed in 2023 are invited to special commissioning service in the C3thedr31, which is planned to take place in April 2024. Religiou5 Education Partnpr£hip The RE Adviser for LDBE attend5 Standing Advisory Council for Religious Education ISACREI Meetings in Lincolnshire, North Lincolnshire and North East Lincolnshire. In addition, working closely with the Local Authoritv RE Adviser for Lincolnshire and with staff at Bishop Gros5ete5te University on their regional RE hub meetings. Trdiriiii¥ lids beeTI VlUViLl￿(l uii Religiuus EduLatiu(I for a raiige of ITE pro6raimimes, includinE Primary PGCE, LEAD Equate Teaching School Alliance and Lincolnshire scirr groups. A series of regular regional RE networking meetinR5 are run that are aff￿liated with the National Association of Teachers of RE INATREI. These sessions are open to all schools and academie5 in line with the requirements of the LDBE Measure in relation to RE. As well as actively supporting and promoting high quality RE within the Diocese. the RE Adviser works re8ionallv and nationally.. is a member of the Church of England Education Office's RE Working Group and a representative of the Archbishop's Council on the RE Council of England and Wales. Other roles include being a member of the Editorial Group of Grove Education. Another membership role is with the Education Committee of the Faith and Belief Forum and è Trustee of Culham St Gabriel's. The RE Adviser continues to work as a supervisor for the 13 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number '. 1151733 Farmington Scholarship (Farmington Institute, University of Oxford) and as a mentor on the Leadership Programnie offered by tlie Culhani St Gabi"iel's Ti"ust. Work coiitiiiue5 Wltli colleagues iii a nunibei" of other Diocese5 nationally to produce guidance materials and training on RE assessment for schools and academies around the country. The Lincolnshire locally agreed syllabus for RE 15 in use across greater Lincolnshiie. This has erbabled the Diocesan RE f4dviser to offer more consistent support to church schools 3cross the Diocese. To further support the effectiveness of this work, the RE Adviser has recruited and trained three Associate Diocesan RE Advisers, who are beginning to provide RE support acr055 the Diocese. The Lincolnshire locally agreed syllabus for RE ¢5 currently urbder review with the expectation that it will be available from autumn 2024. The RE Adviser is beginning to shape training and support in light of the anticipated changes, as well as in response to the National Content Standard for REI published in Septeniber 2023. This work forms the basis of support for teachers and subject leaders around the Diocese of Lincoln. Work with schools A Diocesan Board of Educètlon should 'promote or asslst in the promotion of religiou5 education and religious worship in schools in the diocese" ILDBE Measure, 2.lal. The RE Advisor delivers primary and secondary RE networking meetings around the Diocese of Lincoln. These sessions remain free and open to all teachers and subject leaders of RE Iboth church and non-churchl. Three annual newsletters are produced as well as running social media accounts on Twitter and Facebook, to kéep in touch with RE teacher£, subject léaders and other professionals around the countrv. The cour5e5 and conference5 programme Include Iralnlng sesslon5 on ieachlng dlfferenr rellglous worldvlews, designing a RE Curriculum, meeting the expectations of Ofsted and SIAMS in relation to RE, assessing pupil proEres5 in RE and other relevant topics. Bespoke training is frequently requested. Support is provided for teachers taking on the role of RE subject leader, as well as supporting head teachers and governors in their monitoring of RE. There is close working with colle2Eues to support schoo15 to develop their distinctively Christian vision and monitor their effectivenes5 as church schools using the revised SIAMS evaluation framework. Thi5 includes working with schools to ensure they are meeting the expectations of the Church of England Education Office's Statement of Entitlement for Relisious Education120191. In addition to this, the LOBE RE Adviser delivered keynote and workshop se55ions at conferences accessed by teachers within and beyond the region. Work beyond schools The RE Adviser is currently working with a variety of collaborative partners, including Shooting Fish Theatre Company and cultural solutions UK, to deliver Empowering Voices, Exploring Worldviews, the fourth phase of REConnecting Lincolnshire project. This project has received Erant funding from a number of funders, including Culham St Gabriel's. The project involves supporting children and young people to engage with a diversity of religious and non-religious worldviews through the medium of podcasts and accompanying educational resources. To date, six out of the proposed eight 30-minute podcasts have been launched,. a further two are in progress. Fundraising continues to f2cilit3te complpting thp fLJII èiEht. 14 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number - 1151733 The RE Adviser has been leading a national team of RE teachers and leaders to deliver The Worldviews Project, funded by the Templeton Foundation. Thi5 project 15 a major piece of work that involves trialling the draft National Statement of Entitlement for RE, which seeks to set a consistent standard for RE in schools and academie5 across the country. Two members of the team have been recruited from within the Diocese of Lincoln. with the launch taking place in May 2024. Blshop's Visltors The Education team tr¢es to ensure that each ochool hao a Biohop," Jltor, although thc task ha: proven difficult in recent years. In 2023 we had 59 active Bishop Visitors, this reflects a reduction of 10 from the 69 in 2022. This does not cover all schools. There is now an action plan in place to look at raising the profile of Bishop's Visitors and their role, by working with the new Diocesan Children and Young People Enabler, we are looking at how this can be done. School Improvement School Reviews and general work with schools LDBE is aspirational for all pupils and staff in all its schools. As such, strategies for school improvement are uniquely offered through the lens of the Church of England's vision for education. Whilst reflecting the Christian inspired vision, the offer is robust and of high quality. It reflects up-to-date thinking in education practice, ped6gogy and polscy. The offer also reflects the inspection frameworks for both SIAMJ and Ofsted. This year included a move to reflert the introduction of the newly revised SIAMS framework for 2023. Strategies for school improvement in 2023 included.. Head Teacher Performance Management School Improvement Partner days and packages School Reviews e.E. for special needs, governance, curriculum, pupil premium etc. Bespoke training for individual schools e.g. governance, curriculum, pedagogy Planned training programmes with a particular focus on Diversity. Equity and Inclusion Head Teacher and Governor briefings Liai50n with Local Authority school improvement partners and attendance at School strategy meetings In 2023 a small number of schools bought into the school improvement package. accessing support in many areas. Areas of focus included.. curriculum development, middle leader dcvclopment, special nccdJ and Eovernance. Bespoke training has been a feature of school Improvement work and th15 has allowed school leaders the opportunity to really focus on the particular needs of their School. This area is a competitive market particularly with th* growth of thg DfE fiinded offF5rs for the wide ranEP nf NAtinnal Prnfpfisinnal QiJalifir.Ation.% and thg. development Packages provided by national education and teaching hubs e.g. Maths, English, behaviour etc. 15 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number . 1151733 There have been increasing requests in 2023 for bespoke governance training. Often this ha5 been focused on the roles and I"espoiisibilities of boards oi" to SilPPQlt boai"ds' uiiderstaiidi1i6 of i115pection. Two 5choo15 requested full governance reviews which provide a thorough and detailed analysis of the board's work and an action plan. Governance review5 are uniquely offered to reflect a school'5 legal status as a church school. Whilst they encompass all elements of a standard governance review, they also include particular feature5 relevant to church schools, e.E. the school's website and policies are reviewed to consider the extent to which the Christian vision is central to its work. There 15 also a particular tocus on how governors monitor and evaluate the impact of the school's theologically rooted vision. Themes of special needs, inclusion and diversity continue to be a priority. A series of training focused on all forms of inclusion took place throuEhout the year. Two schools accessed reviews for special educational needs. Diversity, Equity and Inclusion are an important thread through all LDBE work. In response to Lament to Action. racial justice is a priority. A training programme, 'Diversity, Equity and Inclusion Opening the conversation, has been offered to schools. Schools have been provided with a Diversity, Equity and Inclusion auditlreflection tool to support development in this area of work. This has a150 provided the central team with important information about schools, work in this area. 30% of schools accessed support for their head teacherfs performance management ir) 2023. A real strength of thls offer Is the opportLJnlty Ir provldes to work with governlng board5, to support the profe55i0nal develuyfTigril of their senior staff through the lens of the Church of England's vision for education. Robust conversations ensure head teachers, targets are appropriate to context, reflective of local and national priorities and the school'5 own Christian vision. Mcmbero of the central team maintain 4trons linko Wlth local authoritics. Thi" cnablc- appropriate dUPPOrt to be offered to schools when need5 arise. LDBE members provide additional support for all schools who are under scrutiny from their local authorities. A further development in 2023 has been strengtheninE of partnerships working in Lincolnshire. As a result, LDBE is now the fourth partner in the Local Education Group ILEGI which includes representative5 Of school leaders. the LA and the teaching school hub. Head teacher and governor briefings continue to be well attended. They enable the central team to communicate updates to reflect both National and local priorities. It is worth notinE that in the Spring term of 2023 some school development work was disrupted due to strike action in schools. Church School Distinctiveness and Statutory Inspection of Church Schools {SIAMS1 The LDBE team have continued to provide the support schools need to further develop an effective and distinctive Christian character. There has been an ongoing focus on developing a Christian vision for the schools. Support and training have been provided to help school leaders and governors to develop and embed a vision that is rooted in theology, in line with the Church of England and Diocesan vision for education, and meet the needs of the community. "I his focus on vision has been particularly powerful for many schools a5 they have used thi5 to steer through the challenge5 and identify areas for development. With the LDBE training offer in place and thg srhnol< inrrpasinE pneacemont with in-pprgnn 2nd virttjal training, £rh(￿RE arp wpll plar.pd tn fiJrthp.r develop their Christian character and be successful at their next inspection. 16 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 Company registered number . 08334622 Charity registration number.. 1151733 In response to requests from schools the team has.. Provided SIAMS training and sUPPOrt for school leaders and governors,. Developed resources and training for collective worship,. Focused professional dialogue at SLA visits on developing Christian character.. Delivered RE, SIAMS and Governor bundle of training as well as RE cluster meeting and surgeries. The 2023 51AMS Inspettion Framework (September 20231 has provided a new context for this particular stream of work- demand for the support outlined above is increasing as a result. Courses, Conferences and Festivals 1,088 delegates attended a total of 62 trainin8 events in 2023, this included 3 conference in November 2023 and fewer online courses in the autumn term12022-848 delegates at 76 events). SIAMS and RE training are the most significant topics, as well as our free briefings for Headteachers and governors. The programme of courses, conferences and training opportunities is reviewed annually and aimed at a range of stakeholders including senior leaders, governors, teachers, RE subject leaders, SilPPOrt Staff, 8i5hop Vi51tors and clergy. In addition to central training, the team has provided the equivalent of school-based training for individual schools, as well as bespoke sessions for schools and MAT central teams. 2,071 pupils attended the Church School Festival in 202311,478 attended in 20221. 266 pupils attended the carol service in December 20231337 attended in 20221. The carol service numbers were lower in 2023 due to some schools initially booking on alternative day5 at different venues, unfortunately these alternative days could not take place due to low numbers. All of these schools were offered a place at the Lincoln Cathedral carol service, bur many could not attend on ihat Specific date. Schools, capital12023) 20 of the Church Schools in the Diocese of Lincoln, including 2 in North Lincolnshire, were Voluntary Aided IVA) statu5 at the beginning ot the year. The tigure is the same number of VA schoo15 as at the end of 2U22. The 2023124 academic year was the fourth year of the School Condition Allocation ISCAI grant. LDBE continued the partnership with the Diocese of Sheffield established in 2020, sharing knowledge and expertise, developing a good working relationship. LDBE remained the lead receivinE the 2023124 grant allocation for both organisations. The grant was allocated to priority works identified in the conditional surveys of all the VA schools across both Dioceses. The grant priorit15ed works beyond the financial capabilities of school budgets. The trend continued from previous years, where projects selected typically cost tens if not hundreds of thousands of pounds, often plit into pha.ueo hclpinE ochoolo manage their IO% financial contribution. A panel discussiorb convened of representatives from both LDBE and the Diocese of Sheffield along with the archiiects, who work closely wlth the schools, to conslder projec15 Ihat meei Ihe crlteria of most urgent need, tlie school financial position and whether it is necessary to complete the work in phases. The rising cost of raw materials is a financial constraint, leading to projects being phased to tackle the areas in most urgent need. As in previous years, replacing a building roof were the main projects across both Dioceses, with more still to do in the future. Allocations to replace and update perimeter fencing arose at a couple of sites. On the net zero carbon agenda, LDBE and the Diocese of Sheffield are acutely aware of the capital projects that will have the biggest impact on reducing emission5, replacing fossil fuel boilers with air or ground source heat 17 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number . 1151733 pump. This brings its own challenges in terms of the costs, which are significantly more than a like for like replacement. The additional cost 3ffectively means the schools IO% contribution increases where funds are already tIEht. To understand the full potential cost for a VA school to achieve net carbon, a number of companies were asked to present proposals that included bidding for public sector decarbonisation scheme grant or, id¥iiLilyiii¥ LI1￿ Iiv¥tJs vf iridividudl 5choo15. A company has been selected to produce a report, a5 shown irb thelr presentation, that will identify what work needed to achieve rbet zero carbon with an estimated cost. The reports will be completed in the next financial year and provide an estimate of the total cost to achieve net zero carbon for VA schools. These actions form part of the wider Diocese of Lincoln Environment Action Plan IEAPI where LDBE contributes in regards to the work at the VA schools. On the roof replacement programme, if LED lighting was not present in the ceiling under the old roof, there has been a conscious effort to replace this at the same time. LED lighting produces lower emissions and reduces pnprgy costs so is seen as a qliick wrrb for the environment and tho school budget_ The SCA grant continues to be received into the LDBE bank account. The contracts remain between the Governors and the supplier5 and for the 8rant5 between the Governors and the DfE. The income and expenditure are not included in the LDBE Statement of Financial Activities for the charitable company. Note 12 to the Financial Statements discloses the amount of grant involved. LDBE accounts continue to show a fee charged to the schools for administering the funds and completing the relevant returns to the DfE. Site Trusts Site tl-UStees liold tl)e sLliuul buildiii¥s dri(J yldy¥iuuiid vii Lrusi lur Ydu¢(Iliuii iii diivrd(Iiiiv willi ili¥ priiiciplvs vr the Church of England. In many cases, the trustee was Lincoln Diocesan Trust and Board of Finance Limited ILDTBFI, but often the Vicar and Churchwardens of the parish were appointed and sometimes a local charity IS the Trustee or the land, rather than being freehold, is leased. Under thé Transfer Agreement of 2018, 311 LDTBF site trusts and custodian trusteethips have transferred to LDBE. To ensure the directors of LOBE, as trustees of the sltes, are made aware of site matters- these are presented to the Finance & Administration Committee, and ratified by the full board. During 2023 we have continued the exercise to ensure that all such trusts and land holding5 are in order. The table below indicates the types of trusteeship, and number of schools included in each category- Trustees Lincoln Diocesan Board of Education ILDBEI Lincoln Diocevan Trust Board of Finance ILOTBFI Vicar & Churchwarden - Charity / Committee - Archdeacons- Lease Interest 60 47 16 No Trustee - Orphan5 - Unl(nown - 18 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number: 1151733 Custodian Trusteeshlps LDBE Custodian Trusteeships - 20 Thc catC60ry 'Orphan' used to indicate dtites where work is needed with the Charity Commission,. essentially, these are sites where the trustees no longer exist. It 15 hoped these can be brought into LDBE'S trusteeship. FoLtr sites remain completely unknown,. work is ongoing- but It Is posslble that all route5 may be exhausted without success. In such cases, work with the Charity Commission to determine a trustee will be needed. Closed Schools General Purpose Reserve Fund This is an LDBE restricted fund,. its purpose is to support Christian education within the Diocese of Lincoln. During the year grants of up to £SOO totalling £5,93012022 - £1,875) were made to individual schools. Grants approved in the year included a contribution to the literacy resource for a number of schools in a multl academy trust. The umber of grants approved were more than the previous year with more applying for thc full £500 than in 2022. The 2023 budget had Board approval to transfer £20,000 recorded as part of the grant income, from the fund to support the Schools Improvement programme. Financial Review Reserves policy The Directors of LDBE considered the reserves policy at the Finance and Administration Committee in March 2024 and agreed to hold reserves equivalent to 12 month3 of operating costs. At the end of the 2023 financial year, the total reserves have increased to £7,221,979 with unrestricted accounting tor £795,011 and restricted £6,426,YblS. The Introduction of total return accountinE in 2023, the restricted reserves now split out the value of the endowments held by LDBE1£823,654 restricted and £5,603,314 endowment). The endowment includes properties and sales proceed5 for surplus assets. The increase in the total of festricted reserves compared to 12 months ago include5 a debtor for the sale proceeds of a slte that has been sold. The funds are currently hel(J in a deposit account awaiting the final stages of DfE approval to release the physical cash. The level of free reserves. unrestricted less fixed assets, equates to £791.125. Incomc The significant income sources remain unchanged over the last 12 month5 Wlth investments and properties held under the Uniform TrL*Sts, along with courses, conferences and training primarily aimed at schools and their governors within the Diocese. Investments are managed by LDBE investment managers. The rise in interest rates during the year created opportunities for the investment managers to lock in assets with a fixed rate return. Cash balances have generated interest over the last 12 months that wa5 not forecast in the budget. The return on investments was a corbtributing factor to the improved financial performance for LDBE in 2023 when compared to its budget. During the year, work continued towards adopting total return accounting of the Uniform Statutory Trust IUSTI fL¢nd. The Board had approved the move in 2022, the final piece of the process wa5 the to establish the original value of the fund. Thi5 was successfully complcted in Scptcmbcr 2023. The documcntJtion for the investment managers to Sell existing a55ets and re-align the portfolio to a total return investment 19 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number: 08334622 Charity registration number '. 1151733 strategy was completed in December 2023. No sales were completed before the 31 December 2023. The sale of the existing assets and subgequent purch35es will occur in 2024. The start of the 2023/24 academic year in September marked a change in strategic direction for LDBE with the focus on larger events, aiming for one per term with a move away from a multiple number of Smaller courses. The move deslgned to free up slaff ilme io generare Income from other work streams. Based on the evidence from the 2023124 autumn term, the conference was a success and well received and staff noticed there was more time available for other income generating activities,. working closely with individual schools for their own requirements and developing new resources. The LOTBF currently provides a £IOO,000 grant subject to a triennial review shown under Note 2 a5 part of the Other Grants. General Funds. Expenditure At the beginning of 2023, the charity employed 8 members of staff that remained unchanged at the end of the financial year, with no leavers or new appointments. Staff costs remain the largest area of expenditure. Thi5 brings it5 own challenges wlth Inflatlon and geiring the rlghi balance beTween a pay award and long-term financial stability. Different scenarios are presented to the LDBE directors to have that discussion with the calculations on recurrent impact before any decision is approved. A couple of contracts that were either renewed or extended for a longer period of time, at the suppliers request, achieved in year savings on a recurrent basis. LDBE reviews arbd internally challenges current practices to ensure they are fit for purpose. Time is often identified as the limiting factor. Planning work103d5 to free up time and place less reliance on external support has been implemented in the last 12 months. The Church of England and DioccJCS arc looking to reduce their carbon footprint. LDBE are aware of this and are looking to do its bit by continuing with virtual training where p055ible to reduce travel cost5. Less travel reduce5 both expenditure and the carbon footprint. Where face to face appointments are required, dlarles are scheduled 10 minimise Iravel as much as possible. Car sharing is another option LOBE tries to utilise where possible. Expected annual operating costs in future years are forecast at circa £600,000. Based on the above in the context of the current economic and political environment, the Charity will aim to hold free re5erve5 equivalent to 12 months of operating costs. in line with the reserves policy. 2023 general expenditure equals £606,944. At the 31 December 2023, the general funds stand at £795,011 ratio of l - 1.31 of operatinE Costs. The directors note that in the current five-year plan, maintaining free reserves equivalent to 12 months operating costs is achievable, subject to any market fluctuations and the impact of the value of investments. Inflation ha5 fallen In over the last 12 months bui 11 has sriii Impacied on recurreni cosis wilhln laresi flve-year plan, particularly in relation to staffing costs as mentioned above. Operating costs in fijture years have been increased for inflation unless specific savings have been identified. The five-year plans exclude the sale proceeds of one slte sold in 2022. The process has moved forward within the last 12 morkths and the commentary above explains a debtor for sale proceeds of that site are now included within this set of accounts. During the year, the DfE have examined the process around the original application that cast some initial doubt leading to further work. In November 2023, the DfE confirmed they agreed with the origin313pplication process. m3kin8 no chan8es. Thé final stage of the process is now under way for approval from the Secretary of State to release the funds. The actual timing of release of the sale proceed5 15 the unknown factor, the final part of the process ha5 to be completed first, but they will be invested in the Uniform Statutory TTu5t of the Endowiiieiit uiider total i-eturn éccouiitiiig. Tlie sale uf oliv yi opel tv Was Loiiiplvled iii ilie last yeai- and those fund5 have already been transferred to the investment managers to invest. 20 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company reElStered number '. 08334622 Charity registration number . 1151733 Risks identified by the directors note the annual cash flow deficit. The investment managers are aware of the cash flow posltion of LDBE and have sold unrestricted funds to build up 3 cash balance to be drawn down when required. The implementation of a total return accounting provides an additional avenue for generating cash. As the release of the sale proceeds from the one site referenced above is now in that final stage5 Qf the process, the Li1511 irij¥LL4uTI will be iiivEsLed fvi ilie Iviigvi-lerin fiiiancial stability of LDBE. The changing nature of the education sector and the move toward Multi Academy Trusts IMATI 15 acknowledged by LDBE and how they can best be served in the future. Potential risks to current income streams are acknowledged and LDBE is working on how those risks can be mitigated in the future. Schools are continuouslv being asked about their priorities and requirements going forward so LDBE can meet these needs. The risk reBister is split into two key sections, one of those dea15 specifically with financial issues that ale revipwprl nn an annijal hA¢l¢¢t suil¢iblv (IciounlinB policie5 tind Lhvn 8 member5 elected by the Diocesan Synod, and Idl at least 4 but not more than 6 members co-opted by the LDBE This new measure also required that new article5 for the company be drafted, which were adopted by special resolution of the directors of the board on IO, February 2022, and which came into effect from I" March 2022. Committees of the Board The Board delegates closer involvement in the work of LDBE to two committees, Le3rnin8 & Development and Finance & Administration, each supported by a de51gnated Officer. A Committee will be quorate at least 40% or five Members being present. In addition, the Director of Education or his A551Stant Director must be present. Trustee5 The Trustees who have served at any time during the year or who were in post at the date of signing this Report are noted below: Surname Forenamelsl Date appointed 01101119 Date retired Committee AppoSntment Adnitt Michael lain F&A nla CO-OPTED Allain -Chapman Ju5tine Penelope Heathcote 19104122 BN Bacon Julie Kathlee 21111120 01101116 01101116 01103122 01103/22 01101119 01101122 11111123 01105/23 F&A L&D L&D F&A F&A F&A Barron 8everley Brewster Brown Sonia Patricia Joan Hilary Paul David Nicholas James Watson David Stephen David Re-appointment David Eric CO-OPTED 8N Cleirieril5 Conway 30104123 n/a EX-OFFICIO Court 10111123 n/a EX-OFFICIO 25 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THF YFAR FNDFf) 41 DECEMBER 2023 Company registered number = 08334622 Charity registration number . 1151733 Surname Forenamelsl Date appointed 01101116 12103120 16112113 01101/19 10110119 07105119 01103122 01103/22 15107123 01103/22 01/01/16 12103119 Date retired Committee Appointment Edwards Cherry Anne Sonya Nicolete Denise Penelope M3riin James L&D Ely Fisher Green Kyle Machell L&D F&A L&D L&D CO-OPTED BN 16/03/23 CO-OPTED Georgina Frederick Frank L&D BN Mann FXA Robinson Sarvananthan lan Sudharshan Julian Alison L&D F&A BN Stern L&D CO-OPTED W8rrick F&A L&D Whitcoak Daphnc CO OPTED F&A- Finance & Administration Committee L&D- Learning & Development Committee E- Elected by Diocesan Synod BN- Bislivp's NviTaiiidliuii Remuneration of Key Personnel LDBE officers and staff are all employees of the LDBE, a key responsibility of the Director5. The Finance & Administration Committee will make a recommendation to the Board on pay awards using the previous 12 months CPIH statistic5 as a guide. Affordability and the current economic trend5 will form part of those discussions. Benchmarking with other organisation5 15 3150 con5ideredi provided the information is available. Induction and training of Trustees Members are supplied with a Directors Induction Pack, which includes the Measure, the Memorandum and Articles of A5SOClation. Members also received Charity Commission guidance on the Responsibilities of Trustee5 on appointment. In reporting to the Board and Committees, Officers ensure that they provide sufficient background Information and explanations to enable Members 10 make informed declslons. Conduct of Business The full Board meets four times a year. It is responsible for ensuring that the charitable company complies with the requirements and regulations outlined above and that it works efficiently and effectively to further the diocesan vision for education. Board members are volunteers. The Board dele￿ateS business to two sub-committees. Committee responsibilities are broadly as follow5.. Finance and Administration C_nmmittpp Chair.. Canon Nicolete Fisher Members: 9 Reviews budgets and forecasts for the company and tnonitors financial results. Ovg.r%p.g.% thg implementation of policies and procedures. processes and systems. Supervises the appointment process for Foundation Governors. Learning and Development Monitors school effectiveness 26 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number . 1151733 Committee Ch3ir.' Rev S Barron Members.. 9 Considers School place provision Produces strategy around teaching and learning particu13rly of RE Tho Boarij has delegated day to day mana8ement of the charity to the Dioce>arb Direttor of Education and their team. During 2023 thi5 included- Education Offlcers A5515tant Diocesan Director of Educ(Ilion School Improvement Officers Two Schoo15 Effectivene55 Adviser Core support staff Finance & Operations Manager Two Administration Officers Compliance & Governance Lead Wlihln a small team Irls often the case that we are working acf055 different (Ictivilies dritj liglyiiig v(ILlI vLliei. Charitable company Until 31 December 2013, the Board of Educ3tion of the Diocese of Lincoln operated from within the Lincoln Diocesan Trust and Board of Finance Limited Icompany registered number 97256, charity registration number 2493551. With effect from l January 2014, operations transferred to a new company, limited by guarantee, which Is also a registered charity. The governing document of LDBE is its Articles of Association. The Board must also comply with The Measure, with company and charity law. Working partnerships . related parties LDBE is not Part of a "group" of companies. but it has close operational and financial links wtth certain othér bodies, as noted below. Lirjoulri DiuLv)urJ Trust urjd 8vufd u LDBE works closely with LDTBF. LDBE relocated to the headquarters of LDT8F and now rents serviced offices from LDTBF. FiriuKIL-e Lii¥Jil¥d LOT6F The two organi5ations have a data sharing agreement which 15 GDPR compliant and allows us to work together to further the work of the schools and parishes. The Diocesan Director of Education is also member of Bishop's staff and attends monthly meetinES and strategic away days. The Asslstant Dlocesan Dlrector Is a member of the Dlocesarb 5afeguardlng Advlsory Board. Working partnerships: wider network Diocesan Education Officers are members of numerous networks, meeting regularly to share good practice with colleagijes from other Dioceses and the Church of England Education Office. The LDBE works closely with Lincolnshire, North Lincolnshire and North East Lincolnshire Local Authorities, the Lincolnshire Education Group, North Lincolnshire Education Standards Board, Ofsted and the Department for Education Regional Director's Office to support church schools and academies in the Diocese. 27 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number - 08334622 Charity registration number '. 1151733 Every church school sit5 Wlthin a parish. The LDBE supports schools to develop a strong and fruitful relationship with the parish. As part of the dioce5an-wide project, Yiine to Cliange Togetliei", we will be 5upportiiig tl)e development of the Local Mission Partnerships ensuring there is strong connectivity between schools and the church community. Some of these relationships ensure officers keep up to date with new initiatives in order to provide appropriate support and advice to schools. Some are about influencing policy and others about working in partnership to ensure schools get a cohesive and relevant offer. Table I belvw sliuws liuw w¥ woik willi uilier org(In15atiOn5. 28 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number .. 1151733 Tt7ble I working with other orgonisations Professional body Maln involvement Working with the Regional Oirector/DfE to form new church MATS and convert church schools into academies- and to monitor performance in school< and ar.adpmip%. Department for Education OfsLvd Feedback at in5pection3 and monitoring visits Church of England Education Office National guidance and support e.g. relating to SIAMS inspections North Lincolnshire Local Authoritv School improvement, headship recruitment, Education Standards Board, Scriitiny Panpl 2nd %Ar.RF Lincolnshire County Council Cliildren'5 Young People Jcrutir)y Panel, Jchools forum, SACRE, Supporting vulnerable schools, Head teacher recruitment North East Lincolnshire Local Authority Children's and Young People Scrutiny Panel, SACRE The Lincolnshire Education Group ILEGI Key strateBiC partner to siippnrt npw sp.rtnr Ip.d .%thool improvement in Lincolnshire Association of Anglican Directors of Education IAADEI Nation31 updates and strategy on church School education Diocesan Admissions Group National update5 on admission policy Diocesan Govern3nce Group National Updateg on Governance A550ciation of RE Advisers, Inspectors and Consultants National updates on Religious Education Lincoln Cathedral Church Schools Festivals LDBE Carol SeNice 29 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number . 08334622 Charity registration number .. 1151733 Reference and Administrative Detai15 of the Charity: itemised Oankers NatWe5t Bank plc Smith5 Bank 225 High Street Lincoln LN2 IAZ Solicitors Lee Bolton Monier-williams l The Sanctuarv Westminster SWIP 3JT Chattertons Solicitors 9 Broad Street Stamford PE9 IPY Auditor Haysmacintyre LLP 10 Queen Street Place London EC4R IAG 30 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number: 1151733 Trustees At the date of signing Venerable Dr Justine Allairb-chapman, Archdeacon of Boston, Chair Mr M Adnitt Mrsj K Bacon Revd S Barron Dr H Beverley Mr P Brewster Revd N Brown Mr D Clements Rt Revd Stephen Conway, Bishop of Lincoln Mrs C EdwardsOBE Mrs S Ely Canon N Fisher Mr M Kyle Revd G Machell Mr F Mann Canon l Robinson RevLI Cdlloli 5 5ai-v&iiaiithai) Prof J Sterrb Mrs A Warrick Mrs D Whiteoak Diocesan Director of Education Canon P Thomp50n Regisiered offlce Edward Klng House Minster Yard Lincoln LN2 IPU Princtpal address Edward Xin8 Houoc Minster Yard Lincoln LN2 IPU Tglpphnnp niimhpr Website 01522 504010 www.lincolndiocesaneducation.com education lincoln.an lican.or Email 31 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number '. 08334622 Charity registration number '. 1151733 Independent auditor's report to the members of Lincoln Diocesan Board of Education Oplnlon We have audited the financial 5tatement5 of the Lillcoln Oiocesan Board of Education for the year ended 31 December 2023 which cornprise the Statement of Financial Activities, the Balance sheet, the Cash Flow Statement and notes to the financial statements, including 3 sumtnary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finoncial Reporting Stundurd opplicable in the UK onGI Republic of Irelond Iunited Kingdom Generally Accepted Accounting Practicel. In our opinion, the financial statements: give a tiue and fair view of the state of the Charitable ¢omp3ny's affair5 as at 31 December 2023 and of the charitable company's net movement in funds, including the 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 lequirements of the Ctsmpanies Act 2006. Basis for opin5on We conducted our audit in accordance with International Standards Dn Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financia1 statements section of ou¥ report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethic31 re5pon5ibilities in accordanc& with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to piovide a basis for our opinion. Contlusions relating to going concern In auditing the financial statements, we have Concluded that the tru5tee5' Use of the goin8 cofbcern b3S15 of atcounting in the preparaiion of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or Conditions that. IrTrdlvldually or colleciively, may cast slgnlflcant doubl on Ihe charliable company's abllliy 10 conilnue as a golng concern for a period ol at least twelve months frorn when the financial statements are authorised for issue. Our rvSPL)11siL)ilitlV5 tlie r¥spvnsibilitie5 Df thE iru5teE5 Wlth rEspeci to golnB coTrcein ale de5cribEd in the relevant 5eitiUllS ol this report. Other iiifgrmatioii The trustees are responsible for the other information. The other information comprises the information included in the Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is io read the other information and, in doing so, conJidcr whethcr thc other information is materially inconsistent with the financial statements or our knowlcdse obtained in the audit or c>theiwise appears to be materially mi55t3ted. If we identify Such material incon515tencie5 or apparent material mi55tatements. we are required to determine whether there is a material misstatement in the financial statements or a m3teri31 misrtatement ol the othcr information. If, bJs¢d on thc work wc havc pcrlormcd, wc conclude that there 14 a material misstatement of this other information, we bre required to report that fact. We have nothing to report In this regard. Opinions on oth•r m3tt•rs pr•$cribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustee5' Report (which includes the directors, report prepared lor the purposes of comp3ny lawl for the financial year for which the financial statements are preparod is consigtént with the financial statements,. and the directors, report included within the Trustees, Report have been prepared in accordance with applicable legal requir&monts. 32 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company reElStered number '. 08334622 Charity registration number . 1151733 Matters on which we are required to report by exception In the likht of the knowledoe and understandinR of the charitable company and it5 environment obtained in the course of the audit. we have not identified material mi5Statements in the Trustees. Report (which incorporates the directors, reportl. We have nothlng 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 by the charitable company,. or the charitable ccimpany financial statements are not in agreement with the accounting records and returns,. or certain disc105ures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require foi our audit- or the trustees were not entitled to prepare the fillanci31 statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in pieparing the trustees, report ènd from the requirement to prepare a strategic report. Responsiblllties of trustees for the financial statements As explained more lully in the trustees, responsibilities staternent set out on page 24 the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees deterrnine is nece5sarv to enable the preparation of financial statement5 that are free from material misstatement, whether due ID fraud or error. In preparing the financial statement5, the trustees are responsible tor assessing the charitable company'5 abtlity to continue as a going concern, disclosing, 35 applicable, matter5 related to going concern and using the goir)g concern ba515 of accounting unless the trustees either intend tts liquidate the charitable company or to cease operations, or have no realistic alteinative but to do scTr. Audltorfs responslblllties for the audit of the financial statements uur obieciives are to obtain reasonable a55urance abouT whether Ihe flnanclal statements as a whole are free Irom maierlal m155taternent, whether due to fraud or eiror, and to issue an auditor's report that include5 Our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a maierlal mlsstatemeni when li exlst5. M155tatement5 can 3r15e from fraud or eifur ére ivrisitleivd 1114lviidl if, iiidividudlly or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We de5igri procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularifies, including fraud. Based on our understanding of the charitable company and the environment in which it operates, we identifted that the principal risks of non-compliance with laws and regulation5 related to Church of England Measures, health and safety and employment (including taxation), and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct irnpact on the prepèration of the financial 5t8tement3 such Bs the Companie3 Act 2006, the Charities Act 2011 and Church of England Mea5urc-. We evaluated management's incentives and opportunities lor fraudulent manipulation of the financial statements lincluding the risk of override of controlsl. and determined that the principal risks were related to fund accounting and revenue recognition. Audit procedures performed by the engagernent team included= Di5cussion5 Wlth management including consideration of known or suspected instance5 of non-compliance with laws and regulation and fraud,, Ev31iJating managoment's tontrols designed to prevent and detect irreEularities.' Identifying and testing journal5,' ChallenBing assumptions and judgements made by management in thelr crltical accounting estimates,. and Cut-off testinE in respect of revenue. 33 LINCOLN DIOCESAN BOARD OF EDUCATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Company registered number.. 08334622 Charity registration number 1151733 Because of the Inherent lirnitations of an audit, theie Is è rlsk that we will not detect all Irregularities. including those leading to a material misstatement in the financlal statements or non-compliance wlth regulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of Instances of non-compliance. The risk Is also Breater regarding Irregularities occurring due to fraud rather than eiror. as fraud involve5 intentional concealment. forgerys colluslon, omission or mlsrepresentation. A further description of our responsibilities for the audit of the financial statemènts Is located on the Flnanclal Reporting rffjiJnr.Il'< wp.h%ltp At= www.frc_ This description forms part of oui auditorfs report. Use of our report This report is madè solely to the charitable company'5 members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable company's member5 those matters we are requlred to state to them In an Auditor's report and for no othei purpose. To the fullest extent permltted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charltable company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Lee Stokes (Senior Statutory Auditor) For aiid on behalf of Hay5maciiityre LLP. 5tatutoryALtdStor io aueen Street Place London EC4R IAG 23 September 2024 34 UNCOLN DIOCESAN BOMOOF E￿IcA￿oN STATEMENToFFINANa￿AcTN[￿ES and lThcomoond Expendi￿reA(Cou￿t FQR THEYEAR ENDE031 DECEMBER2D23 2023 2022 Generalfund5 Re5tr5rted Fund5 Endowment Tthl Total Note INCOME FROM.. DDTraOons and legarles 6r8nts 12WJ i.In.266 1.324.129 185 thafitableartMtRs Spe¢l81 grolects Schoolbuildlngs JChOOI improvemenr 11073 12,073 9.302 148.6 148,G40 136.666 Course5. conferenos and festNals 67￿71 67,572 54*55 Other Incom 12,165 12,165 1,720 Investment5 81,250 26A31 94,938 202,619 190.151 TOTALINCOME 4J5,Y6Y 49.431 I,Zfj7,Z04 1,772.196 543.881 EXPENDJTURE ON.. Lharltabiea￿IyInes DI0￿san Board of EdUCat￿￿measUres 334,782 334.782 307,564 Special prolect5 khool buildings 15,178 lo,￿5 15.178 28,517 10,095 9,535 5th001 lrnprovement 157,912 IS7,912 147.618 %&977 88.977 66.492 Giani-making Mukl Forth Prolerts 25,930 25,930 2L876 20,317 20,317 38.6C6 TOTALEXPENDITURE 60S,944 46,247 653.191 620.208 NtriEXPEblDITURGI}INCOklÉ NÈtgahislllDssesl on Investments 1151.3gii 1.?S7.xia I119IX)7 176.3271 1448,2731 16.9D2 17,730 58,848 93,480 NEfMOVEMEWIN FUNDS 1134,4791 20.914 1,326.052 L212A87 1524.6001 Trarb5fer betweenfunds 13 94.938 19d.9381 TOTAL FUNDS BROUGHT FORWARD 834,552 763.228 4AII.712 6￿5,4￿2 6.534￿2 TOTALFUND5 CARRIED FORWARD 13 795,011 784,142 S,642A26 7,221,979 6,￿9.492 The noteson pa£e38toSlform part ofthese FlnancFaIStatem￿ts. Detaikofcomparatfve figures byfvTrd4redisdosed In note ly. 35 ." 08334622 Charity number.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Total Totèl Note FIXEDAS5Ef5 Tanglble flxed assets 3,886 5,127 Investments 5,401,524 5,337,641 5,405,410 5.342.768 CURAENT ASSETS Debtors io 1,360,398 187,646 Cash at bank 796,095 688,106 Tot31 current assets 2.156.493 875.752 CREDITORS: Amounts falllr*8 dug within one year li 1339.9241 1209.0281 NET CURRENT ASSETS 1.816.569 666.724 TOTALA55ETS IESS CURRENT LIABILITIES 7,221,979 6,009,492 NET ASSErs 7,221,979 6,009,492 FINANCED BY RESERVES.. Gelleral Funds 13 795,011 834,552 Resiricted Funds 13 784,142 763,226 Endowment 13 5,642,826 4,411,714 TOTAL RESERVES OFTHE CHARIIY 7,221,979 6,(M)9,492 The notes on page 38 to 51 form part of these Flnanclal Statements The reserves for 2022 are restated a5 expfained in Note 15 on page SO. These account5 have been prepared in accordance wéth the 5petial provision5 of Part IS of the Companles ACE 2006 relatlng to small entities. These financlal statements were approved and authorlsed for issue by the dlrectors on 18June 2024 and sl8ned on thelr behalf by.. Canon Nliolete Flsher, Vlce Chalrof theTrustees 36 ompanynurnoer.'083346Z2 Chaiity number.. 1151733 LINCOLN DIOCESAM BOARD OF EDUCATION TATCMINT or CAJII rtows FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flow5 from operatln¥ artlvltles.. 1123.0961 185.9571 C45h Ilowsfrom Inve5Ung 4r¢lvltles'. Purchase of investments les of Investments Investment Income Purchase of property. plant and equipment Net cash provlded by lused In) Inve￿1￿& ottlvltle$ 1442,6471 472.244 202.619 11,1311 1761,8471 802.087 190,151 13,1421 231.085 227,249 Ihange In cash and cash equlvalents Inthe reportlng perlod 107.989 141,292 Cash and Cash e4ulvalerbtsat the beRlnnln8 of the reportlni perlod 688.106 546,814 Cash and cash equlvalents at the end of the reportln8 perlod 796.095 688.106 Reconclllailon of net Income to net cash flow from operatlng artivitiés 2023 2022 Net Income forthe reporting period las the Statement of flnaodal A¢tl¥hlesl 1,212.487 1524,6001 Adjustments for= Depreciation charges (Ga￿￿S)/10sses on Investments Investment income Decrease In debtor5 IDe¢reasellin¢rease In ¢feditors Net tash lused In11 proylded by opeiaflng a¢llvltles 2,372 193,4801 1202,6191 11.172.7521 130.896 1123.0961 9,796 448,273 1190.1511 120.742 43,983 185.9571 Analysts of Cash and Cash equlvalenl$ 2023 2022 Cash in hand Total cash and cash eqvlvalents 796.(VJ5 796,095 688.106 688.106 37 Comtyanynumber.'08334622 Charitynumber.. 1151733 LINCOLN OIOCESAN BOARD OF EDUCATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 I ACCOUNTING POLICIES Da513 of accountin and oin oncern The flnancial 5tatement5 have been prepared In accordance with the Flnanci&l Reporting Stzndard applicable In the UK ènd Republic of I￿land IFRS1021, the Stztement of Recommended Practlce applicable to charitie5 preparin8 tlielr aCL(JuiilS ill éLividdiiLV willi tli¥ Fiiidfiii4Jl RepuJtln¥ 5tsndard appllcable In the UK and Republlc of Ireland IFRS 1021 Second Edltion effective January 2019. The financial statements are prepared under the historlcal cost convention. The trustees consider there are no materlal uncertainties around the charity's ability to contlnue as a golng ¢once¥n. Short term cash flow issues are recogni5ed by thetru5tees but contln8ency plans are In place. (Iver the longertermi plans have been lgeveloped around Investments and whzt the charity offers in terms of training and development In the education sector. On the basis of reviewed rash flow lore¢ast ènd risk planning* the directors can slgn the Charityaccounts as a going concern. b Crl l al accountin ements 3nd ke sources ol estlmatlo un¢ertaintv In the application of the accounting policies, trustees a￿ requlred to makejudgernent, e5timate5, and assumptions about the carryingvalue of assets and liabilities that are t)ot ￿adIlY apparent Irotn other 50urce5. Thp. g.%tlmatg% And IindprlyinE A4411mptions are based on historlc31 èxpérlÈntè and other fartor4 that are considered to be relevant. Artuèl results rnay differ from these e5tim3tes. The estlmate5 and underfying a55umptions are reviewed on an ongolng ba515. Revisions to accounting estimates are rÈeo8ni%ed in the period in which th• gstimat• is r•vls•d basod on nÈw information re¢eived affertingthe value of the asset. Investment properties are valued on the basls of capitallsed rent yields or reference to external market data. Cdyildli5¥LI Iviily dre ba&ed vn a 5% yleld due to thE naiure and terrn of Ihe tenancy. The ex15tence of any striction5 on the investment propertles and their reallsable value, due to theireducational background. would be hlghllEhted in the Charity Report produced at that point in tlme. FuiiTJ dlLVUntln LDBE holds funds olthe followingtypes.. Gener81 funds-whlth are avallablÈ foi any purposeswithiTh the LDAE'< nhlprt%. Restricted funds- whlth are sublectto specific condition5 imposed by the donor. Endowment funds- whlch are subjertto the conditior55 of the Uniform St2tutoryTrust. d Income Income Is ac¢ountedforwhen the charity is entitled to recelveihe In¢ome, when il can be valued accurately and whpTh11 1% prnhihlp that it will be rec01v￿. It Is dÈfèrrÉd to thè èxtènt that it is contractually related to 313t•r accounting perlod. Grants in kind are vhlued at the cost to the grant-making bodv. e Ex engiiure Expenditure Is reco8nlsed on an accruals ba515 and wherever posslble charged dlre£tly tothe actI￿ty(0nce[ned, including Staff costs. Certain support tosts are apportioned to activities proportionately with the Staff costs ¢hèrged to that activity. f School bulldin sandca As explained in note 12 to the Flnènclal Statements, Capital 8rant5 and cost5 of schools projects whlch are the responsibillty of the governing body of the school concerned have been excluded frorn these accounts. 38 eomponynumbcr..08334622 Charify Dumbei.. 1151733 LINCOLN DIOCESAN BOARD Of EDUCATION NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 I ACCOUNTING POLICIES- continued g Grant5 Grants arÈ intluded In the pÈrlod In whlch the charity has committed the expenditure and when it can be quantified with reasonable certainty. able h Tan Lxpendirure on zsset5 J5 capira115ed Ifit 15 over £500 anil wriiren off on a siraighE line basis overthe expected useful life of the asset. This varies from 3 to 5 years. A review lor impalrment of a fixed assetls carrled out if events or changes in circumstance5 indicate that the Carrylng value of any fixed asset may not be recoverable. Flnanc131 Instruments Basie linancial Ingtrumontg 3r0 initi3lly rpcoenispd at trans3rtion val[Ip and 4iih4pqiJpntly mpAEiirpA at amortised with the exception of investrnents which are held ai falr value. Flnanclal assets held amortlsed cost comprise cash at bank and hand, together with trade and other debtors. A specific rovision is made for debts for whlch recoverabllitv Is In doubt. Cash at bank and in hand is defined s all cash held in Instant access bank accounts and used as workin8 capital. Financial li3bilitie5 held t atnortised cost £omprlse all £redltors except social security and othertaxes and provision5. Debtors Trade and other debtors ère recogni5ed at the 5ettlernent amount due after any trade dlscount offered. Prepayments are valued at the amount prepald net of anytrade d￿scOUnt$ due. Cush otbunk ondifi hond Cash at bank and Cash In hand Includes ¢ash and short term highly liquid investments. Creuirors ondpmv151on5 Creditors and provislons are rÈco8nlsÈd where the charity ha5 a present obligation resulting from past event that will probably result in the transfer of lund5 to a third party4nd the atnount due to settle the obligation can be measured or e5timaEed reliably. credirors and provisions are normally recoBni5ed at theirsettlement amount afterallowlng for any trade dlscounts due. j Investrnent5 Investrnents are stated the balance sheet at thelr fairvalue. All movements in value arising from Investment charges and revaluatlons are iThduded in the Statement of Financial Activities. Invesrmeni properries valuaiion, B Tenani In residence. are calculated based on the ave¥?ge annuBI rent forthe lease term. The average annual rent represents 5% 01 the property's valuation. The trustees have agreed this method after diSCu￿10n5 ènd CO￿ribUtIonswlth professSonals wlthln thls fleld. A full red book estate v)luation has been di)cuJJed bytruJt¢es, but tOn51deringthe cost. Ihe uniqueness of the properties. findin8 a reliable cornparison or one recentty sold and the longer terrn5 plan5, the average annual ¥ent representlng an agreed percent38e of 3 proFerty'5 valuation continues to thÉ approach thè dlrÈrtors ha￿ adopted. Total return accounting and 5nvestment strategy ha5 been approveil and adopied by LD8E In 2023. Sale5 of the existing portFolio and purchasing a55etsfor a Tri Investment strategy commenced post 31 Decerntser 2023. The 51r4iegy mDve5 LDBE Inllne wlth other Dloie5e5 and IharltlE5 th¢lt have adopted this forrn of Investment strètegy to atc*ss capitsl growth of the assets within the portfolio, not belng wholly rellant on the dividend payments to fund the ObJ￿ts and activitie5 of the charity. 39 Comoanvnumber.. 08334622 CharitynumbEr.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTESTO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 General Re5trltted funds Funds Endowrnent Total Total 2 INCOME FROM GftANTS other grants 128,863 23,0(K) 1,172,266 1,324,129 148,185 128,863 23,000 1.172.266 1.324.129 148.185 Endowmènt othergrants include sale proceeds from a surplus site, It is a one off went. The physical cash is Still be be recelved so thls Is showlng as 8 debtor on the balance sheet. The lunds are subject to government sign off bvt the rlsk of not receiving the fund5 is described ès very low. Based on the the entitlementp probability and mez5urement for recognising inceme. the amount has been recognised In the 2023 acccounts. 3 INCOME FROM A￿1VITIEs All income from activitles Is attrlbutable to the charity'5 general funds. 2021 2022 General Restrlrted fund5 Funds Endowment Totsl Total ro ects staff release fees and trustwork 5,000 School buildin Fees for administrative 5UPPOrt ement 12,073 12,073 9,302 00 Service level agreement and fees 148.640 148,640 136,668 rencg5 3nd f•gtiv3ls Coursefee5 and festival attendance 67.572 67,572 54.855 Other income Other income 12,165 12.165 1,720 245.4SO 245.450 205,545 C¢m9gnynumb2r.. Q8334622 Charitynumber.. 1151733 UNCOLN DIOCESAN BOARD OF EDUCATION NOTE5 TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 310ECEMBER 2023 4 COSTS OF CHARITABLE ACTIVITIES 2023 Total 2022 Total staffin8 Other dlrect costs Support C05t5 Grants Diocesan Board of Education Measures 215,747 12.070 106.965 334,782 307.564 special proiects 12,654 2,524 15,178 28.517 School bulldlngs 9,580 515 10,095 9,535 5ehool Improvémént 1qQ,QA1 17.4al 157,912 147.618 Courses, conferences and festivals 67,477 17,528 3.972 88,977 66,492 fjrant-maklng REConnectinB Lincs Worfd Views 25,930 16,085 4,232 25,930 J6,085 5.332 654 291 21,876 35,S56 3,050 620 208 1,100 446 539 131907 The Grant-mèking costs are to COE schools to enhance their Christian ethos. Further details can be foiind on page 19 nf thp TriJ*tpP Rppfjrt i)ndpr Clts%pd £thDDI G@ner31 Purpose heading. The REConnecting Lincs is the continuation of the Empowering Voices project. delivered by a p¥odu£tion compBny* under the title Worklng BeyDnd Schoo15. Explering Worldview proletts continued tn 2023. D•t¥ils of both can befound on pagè 111 of the Trugtpw Rpport nD thp £tat￿m￿nt hf Flnanr.lal Activities, these two prO1￿ts are sh¢>wn under the heading Multi F31th Prolects stsffins Other direct costs Support costs Grants 2022 Total Dlocesan Board of Educatlon Measure5 204.800 1,850 100,914 307,564 Special proletts 9,630 18.887 28,517 School bulldlngs School Improvement Courses. conferences and festivals Grant-makin8 Multi-Faith projett 9.155 133,062 50,048 380 9.535 147,618 66,492 21,876 35.006 620.208 14.SS6 5.248 11,196 21,876 36,362 58,238 151 407.446 1,493 141,478 13,046 3UPPORT COSTS 2023 2022 uiocesan ooard of Education Measu￿$ 100,965 2,524 515 100,914 18,887 380 14.556 5,248 1,493 141.478 Special projects School bulldlngs School improvement Course5. conference5 and fÈstiv&ls Multl-Falth prolert 11,Y31 3,972 131,907 41 Company numbEr. QBJ346t2 Charltynurnber.. 1151733 LINCQLN DIOCESAN BOARD OF EDUCATION NOTES TO THE FINANCIALSTATEMENTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 6 NET INCOME BEFORE TRANSFERS Net incorne is stated after Depreciation Audit fees lincl, VATI 2.372 21.360 9,796 17,760 Board member5 were not entitle￿ to, and dld not receive any remuneration In their capacity as trustees in the year ended 31 Oecember 202312022- En511. £730travel expenses were clalmed by trustees as board meetlngs were hÈld in person12022- £9051. 7 STAFF COSTS 2023 2022 Wage5 and Salaries 355,353 320.649 social Security 38.997 3G.7J2 Penslon 39,100 33.584 RÈdundancy costs 3.711 Other staff costs 13,089 12,770 446,539 407,446 The average numberof people employed during the yearwere812022. 81. Remuneration and benefits recelved by key management personnel. Diocesan Dlrector of Education and theA5S15tant Dlrector. Including employers natlonal Insurance and penslon contributions amounted to £164,71012022,' E157,5881 The number of staff whose emolument5 amountin8to more than £60,000 were as follows 2023 2022 Number Number fm.nnn. F7n.ntx) É70.000- É80,(KKI £80.000- £90,(KY) £90,000- £100,(IJO 42 Cornpany number.'08334622 Charitynumber.- 1151733 LINCOLN OIOCESAN BOARD OF EDUC4TION NOTESTOTHE FINANCIAL STATEMENTS conttnued FOR THE YEAR ENDED 31 DECEMBER 2023 8 TANGIBLE FIXED ASSETS 2023 Fixtures fittin sande ment Cost at l January 2023 8.202 Addiiions in year 1.131 Cost at 31 December 2023 9,333 Accumulated depreciation at l Janu£ry 2023 Charge for in year Accurnulated depreciation at 31 December 2023 3,075 2.372 5,447 Net book Yalue at 31 December 2023 3,8 Net book value at 31 Oecember 2022 5.127 9 INVESTMENTS 2023 2022 Llsred Investments Investment Total Total property Brought forward Additions Disposals Investment Gain511 L05se51 CarrSed forward 4.421.602 916.039 5.337.641 442,647 442,647 13Z6,8811 1145,3631 1472,2441 123.117 129.6371 93.480 4.660.485 741.039 5.401,524 5,826,154 761,847 1802.0871 1448,2731 5,337,641 Historical cost of inve5trnents 4,468.934 711.966 5,180,900 5,075,969 Usted Investments 2023 2022 Equitles 2,504,780 2,401,813 Bonds s￿,507 398,641 ulti Asset Funds 797,129 768.069 775.228 Alteinatives 845.920 Marketvalue of inve5trnents 4.660.485 4,421.602 43 CompaTrynUni￿i. ￿33￿621 Chartynumber,. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTESTO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 10 OEBTORS Trade dÈbtors 18.731 32,240 Amounts owed by relaied partles 4.507 3.239 Prepayments and accrued income 1,337.160 152,167 1.360.398 187.646 2023 2022 11 CREDITORS- amounts due wlthln one year Trade creditors 6,449 5,682 100.353 227,440 339.924 8.036 6,051 101150 92,591 209,028 Arnounts owed to related partles Deferred income Otherireditors and accrued expenses Dmpany number'.08334622 Charity number.. 1151733 LINCOLN DIOCESAM BOARD OF EDUCATION NOTE5 TO THE FINANCIALSTATEMENTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 12 SCHOOL BUIIDINGS AND CAPITAL PROJECFS School buildln artnershi scheme The Chirity a5515t5 VoluntaryAided IVAI schools wlth Capital projects. It acts as a banker for the DfE / Education Skills FundinE AEenry in receivinE thp fundine and sÈttling tonrrattors Involces for approved project on their behalf. 2023 s the fourth year of the School Condition Allocation ISCAI fundin8 where LDBE is the lead partnerwith the Diocese of 5heffleld. LDBE recelves the fundlng allocation for both organisation which 15 then allocated acco¥ding to need identifled In the conditional suNeys for all VA schools across both Dioceses. This Is a slgnlfic2nt activityof the charity but the capital projects are not reflected in the Statement of Financial Activities 35 the contracling party is the School'5 Governing Body and not LDBE. A summary ol iransactlons duringtheyear Is set out below.. 2023 2022 Departinent for EducatioTr capital grant5 801.939 1,095,693 Schcol Governors, contribution 123.122 55.516 925.061 1.151.209 Project expenditure 925,061 1,151,209 At the yearend. LDBE held the following J55ets and liabilitles foron8oln8 projects atvtslyntary Alded IVA) schools. The assets and liabllitles do not form part of the LDBE'S accounts, as described bèlow. 2023 2022 Debtors and attwued income 167.275 141,618 Cash at bank 331.684 876,659 Creditors and deferred Income 1498,9591 11,018,277) 45 mpllny numbcr.. oe334622 CharitynurnbÈr.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 13 FUNDS OF THE CHARITY Summa of the artlvitles ol the funds ol thÈ t arft the ea 8wlance at 0110112023 Unapplled Total Return Investment 83insll10s5e51 Income Expendlture Transfers 3111212023 Unrestrlcted Funds Gener61 funds 834,552 455,563 1606,9441 16.902 94.938 795,011 Resirl¢ted Funds aosed School Fund 752,480 26.431 125,9301 17.730 770,711 REConnectlng Uncs 9,048 19,000 116,0851 11,963 World View Project 1,700 4,000 14.2321 1,468 763,22B 49,431 146,2471 17.730 784,142 Endowrnent Uniform StatutoryTrusl Unapplied Totzl Return 4,411,712 11,150,787) 1,172,266 29,718 4.462,910 1,150,787 94,938 29,130 194.9381 194,9381 1.179.916 4,411,712 1,267,204 58,848 5.642.826 Grand Total All Funds 6,009,492 1,772,198 1653,1911 93.480 7.221,979 Balance al Balance at 0110112022 Unapplied Total Returii Investment L055e5 Income Expendkure Transfers 3111212022 (Restated) Unrestflcted Funds General funds 933.314 515.070 1559,7261 154,1061 834,552 Restricted Funds Closed School Fund 865.320 25.697 121,8761 175,2551 141.4061 752,480 REConnecting tincs 20.510 22,200 138,6061 9.048 World View Project A,740 14.n5ni 1.700 885.B30 52.647 160,4821 175,2551 139,5121 763,228 Endowiiieiit Unlform StatutoryTrusi 4.714.948 123.8361 1318.9121 39,512 4,411,712 Gland Total All Fund5 0,534.09Z 54Y.581 16ZO.2081 1448,2731 6,009,492 The 2022 comparator flaures have been restated. details are provided In Note IS on page 50. The transfers represent previous years tran￿CtiOnS from the Uniform Ststutory Tfust to a specific restrlcled fund. 46 Conlptsnynurnbpr." 08JJ4622 Chwitynumber.. IIS1733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTES TO THE FINANCIAL STATEMENTS Continued FOR THE YEAR ENDED 31 DECEMBER 2023 13 FUNDS OF THE CHARITY tontinued ClosedSchoolFund This fund 15 for educational purposes in the Diocese cf ￿NE01n. Activities are requI￿d to develop the Chrlstlan £h3racter of the school. The fund operates by making 8rant5. At 31 DÈ£Èmber 2023 the fund Included investment assets of £605,41212022.. £606,8881, with the balance wlthln net current assets. REConnectinq Lincs This project bid and was successful in receivin8fund5 10 support chlldren and young people en8age wilh religious and [￿n regligou5view5 through medium of podca5t5 and education re5(iurces. Wvrfd View Projv(t The project 15 funded through theTempleion Foundatlon and trallllng 3 draft natlonal entitlement to RE. delivered at s $t3nd?rd1gVg1. UniAomiStatvtory Twsr Dlvidends from the Unlform Trust Investment portfollo are a major source of Income to LDBE. The dividends are a key componeni of LDBE annual Income to plan and dellver actlvltles In Ilne wlth the oblectivesof the charity. The portfollo Is managed by Investment mana8ers on behalf of LDBE with clear strate8y on return and risk. Theyear end closing balance of the fund included Snvestment assets of £4,168,789. Ourin% the vear, LDBE established èn >Rfeed methodoloR¥ io determine the ori£inal value of this fund an(J move to totèl return Investment strategy. LDBE took soundings from their investment manager. the ability to pursue capital growth in funds Ènd not be wholly reliant on dlvldends. LDBE a8reed parameters and lirnitatioThs on draw down of capital growth to protect the permanent endowrnentfor the year5 ahead. Thi5wiII enable LDBE to continue to deliver its objectives and rni55ion in the long term. NetAsset by Fund- 2023 General Restricted Endowment Total funds Funds Tan8lble flxed assets Investments Current assets 3,886 3,886 655,296 673,307 4,072,921 5,401,524 306,485 53,540 1,596,J168 1,156.493 1170,6561 1142.7051 126,5631 1339,9241 795 011 784 142 5 642,826 7 221979 Total Net Assets by Fund NetA55et by Fund- 2022 IRestated- see Note 15 page 501 General fvnds Restricted Funds Endowment TDial Tangible fixed assets Investments Current asset5 5,127 625,384 358,079 1154,0381 834,552 5.127 657.183 4.055.074 5.337.641 106.555 411.118 875,752 15121 154,4781 1209.0281 763.226 4 411.714 6 009 492 Total Net Assets by Fund 47 ComDanvnumber'. 08334S22 Charity number.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTESTO THE FINANCIAL STATEMENTS contlnued FOR THE YEAR ENDED 31 DECEM8ER 2023 14 RELATED PARTIES The Chalr and Vice Chalr of LOBE. are tnetnber5 of Lincoln Anglican Ac4demyTru5t ILAATI. Acccrdingly LAAT 15 related to LDBE. Transèctions with LAAT duringthe year are summari5ed below.. 1023 2022 Sales to LUT 19,705 28.263 Balance owed to LDBE at 31 De￿rnber 395 PU￿h￿Se5 ffom LAAT Balantt owed by LDBE Bt 31 Decembef Accrued intome at 31 D￿ernber LDTBF Two directors of the company ale also directors of the Lincoln Diote5an Trvst and Board of Flnance ILDTBFI12022 twol. The ￿nColn Diocesan Board of Education ILDBEI wa5 established to fulfil the requirement5 of LDTBF under the Measure. LDBE rents space from the head office of LDTBF and ha5 operated from the premises forall 012023. when staff are not working from home. Workin8 Out ol the LDTeF head office made good financial sense. closer wDrklng wlth LDTBF staff and rl8ht frorll operaiion31 per5pectlve. AccordSngly LDTBF Is a related partyfor LDBE. Transatti0Th5 during the year were as follows.. Gr8nts retelved frotn LDTBF General Fund Note Restrlrted Fund 2023 2022 Other rants Grant 107.136 107.136 107.018 107,136 107,136 107,018 48 Cwnpany numbw..09334621 Charitynutnb2r.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTESTOTHE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 310ECEMBER 2023 14 RELATED PARTIES continued Other transaction5 With LDTBF General Fund Restricted Fund 2023 2022 Sales to LDT6F 540 540 Purchases from LDTBF 36.509 36.509 43,343 dldiiiv by LDBE S' PflrtldryALdLIviT)y Wybèrton PrimaryAc4demy 49 ¢ompanynumbEr." OOJJ4G22 CharitynumbeT.. 1151733 LINCOLN DIOCESAN BOARD OF EDUCATION NOTES TOTHE FINANCIAL STATEMENTScontinued FOR TFIE YEAR ENDED 310ECEMBER 2023 14 RELATED PARTIES continued 2023 2022 Sales to schools 36.980 48,448 Balance owed to LDBE at 31 December 3.767 3.240 Purehases and payments to schools 1.357 1,478 Balance owed by LDBE at 31 December 15 Analysls of charlty funds The decision to adopt total return accounting and establishing the original value of the endowmeni in 2023, the presentation of the individual funds has been split to reftect the required Teporting. The preseniatlon of the General Funds throughout the actounts and notes remains unthanged. Restricted Funds have now been split and represent the,. • Llosed school pund, • Specific restricted funds IREConnecting Llncs & World View Project). Endowment which comprisesthe Uniforrn Statutory Trust IUSTI and the UnapplSed Total Rerurn IUTRI. Detalls around these specific funds are shown In Note 13. The Introdu¢tlon of totsl return accounting shows the UTR Identified at the beglnnlng of the 2023 flnancial year in Note 13. The prlor yeBr comparlson 118ures have also been split to reflect the f¢Jnds previously all classified as restricted and noted ès restated where applicable. The prior year cornpzrison figure5 have been restated on the reserves of the klance sheet on pèEe 36 alonq with Note 13 on page 46 & 47 and lin311y, Note 16 on page 51. 50 tompèny numbei'.Q3334b22 Charkynutnbpr.. 1151733 IIIQCOLN DIOCESAN BOARD OF EDUCATION NOTES TOTHE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31 DECEM8ER 2023 16 FUNDS OF THE CHARITY continued- STATEMENT OF FINANCIALACTSVITIES yÈar ènd 31 DECEMBER 2012 IRestated- See note IS pale 501 General funds Restrlcted Funds Endowment rotal INCOME FROM.. Don?tlons and legacles Grants 145.071 26.950 123,8361 148,185 Ch?rits6le a¢tivitie$ Special projects 3.000 3.000 School buildings School improvemefit Courses. conferences and festlvals Other Incorne 9,302 136,668 9.302 136.668 54,855 1.720 54,855 1.720 Inve5(menis 104,454 25,097 190.151 TOTAL INCOME 515,070 52,647 123.8361 543.881 EXPENDITURE ON.. Charitable activltie5 Oiotrsan Bo£rd ol Education Measures 307.$64 307,564 Special projects School bulldlngs 28.S17 28,517 9.535 9,535 School IrnpTovemet 147.618 147,618 Courses, confprenrAs ?nd fo&tiv31s 66.492 66.492 Grant-makinB 21.876 21.876 Multi faith projecl 38.606 38.606 TOTAL EXPENDITURE 559,726 60.482 620.208 NET INCOME 144.6561 17.8351 123.8361 176,3271 139,5121 175,2551 1318,9121 1448,2731 Transfer between funds 39,512 Net losses on investments 154,1061 NET MOVEMENT IN FUNDS 198.7621 1122,6021 1303.2361 1524,6001 TOTAL FUNDS BROUGHT FORWARD 933.314 885.830 4.714,948 6.534,092 TOTAL FUNDS CARRIED FORWARD 834,552 763,228 4.411,712 6.009,492 51