## Gloucester Diocesan Board of Education 

Report and Financial Statements 

For the period 27 May 2022 to 31 December 2022 

Registered Charity Number: 1199117 



Gloucester Diocesan Board of Education Report and Financial Statements For the period 27 May 2022 to 31 December 2022 

|**Contents**|**Page**|
|---|---|
|Report of the Trustees|3|
|Reference and Administrative Details|7|
|Statement of Trustees’ Responsibilities|10|
|Independent Examiner’s Report|11|
|Statement of Financial Activities|12|
|Balance Sheet|13|
|Notes to the Financial Statements|14|



2 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

## **Trustees’ report** 

The trustees present their report and financial statements for the period from 27 May 2022 to 31 December 2022 and confirm the financial statements comply with current statutory requirements, the charity's governing document, the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102)) and the Financial Reporting Standard 102 applicable in the United Kingdom and Republic of Ireland (UK Generally Accepted Practice) and the Charities Act 2011. 

## **Objects, Strategies and Activities** 

The objects of the Charitable Incorporated Organisation (CIO) are to advance or assist in the advancement of education consistent with the faith and practice of the Church of England for the public benefit in the Diocese, in particular by carrying out the functions of the Diocesan Board of Education for the Diocese under the provisions of the Diocesan Boards of Education Measure 2021. 

- The Gloucester Diocesan Board of Education (GDBE) seeks, as required by the Measure, to: 

- a) promote or assist in the promotion of education in the Diocese that is consistent with the faith and b) practice of the Church of England; 

- c) promote or assist in the promotion of religious education and religious worship in schools in the Diocese; 

- d) promote or assist in the promotion of church schools in the Diocese; 

- e) promote co-operation between itself and other persons concerned with education in the Diocese. 

And in accord with the LIFE Vision of the Diocese 

_With high aspiration for excellence we are passionate for all within our family of schools to experience God's love in a culture of care, dignity and hope._ 

To attain this Vision and to reach these objectives, the GDBE oversees the appointment of a Diocesan Director of Education (DDE), who assembles a team with responsibilities for monitoring of, and advice, on Christian Character, RE, Collective Worship, Courageous Advocacy, Relationships Sex and Health Education, Well-being, Governance, Buildings, Admissions, Trusts,  as listed on page 8 and the consequent administrative support necessary.  The GDBE has established four Trustee committees to monitor the wellbeing and progress of the schools through the work of the Education Team; viz: 

Executive Committee – comprising the Chairman of the GDBE and the Chairmen of the other committees – to oversee the institution of the GDBE as a CIO and its strategy and development. 

Standards and Ethos Committee – to maintain strong oversight of the educational standards and Christian character within all Church of England schools and academies driven by the GDBE Vision. 

Resources Committee – to maintain a strong oversight of the land, buildings and trusts for which the GDBE has responsibility and to make recommendations to the full Board in this regard in order to support the Christian education of the pupils in our schools. 

Academisation Committee – to receive and consider applications from Church of England schools in the Diocese for conditional consent to convert to an academy trust and/or to join a multi-academy trust and to make consequent recommendation to the full Board. 

The full Board and each committee normally meet 3 times a year. 

3 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

In addition to the committees there is a foundation governor panel who undertake the delegated responsibility to appoint foundation governors/trustees. 

## **Schools** 

The GDBE has oversight of 116 Church of England Schools and one Community school in the Diocese, one of which is a secondary academy and the remainder primary schools. The Diocese of Gloucester family of schools spans two Local Authorities, (Gloucestershire and South Gloucestershire). There are a variety of schools across the Diocese, including small rural primary schools with mixed age classes, large city schools, schools with attached nursery provision and wrap-around care, as well as All Saints' Academy (Secondary). 78 schools are maintained by the Local Authorities and are designated either Voluntary Aided (30) or Voluntary Controlled (48); some schools have entered into a formal agreement as part of a federation or group of schools;  other schools are part of a Multi Academy Trust, including the  Diocese of Gloucester Academies Trust (DGAT) (21), Primary Quest (5), Corinium Trust (1), Severn Federation Academy Trust (4 + 1 Community primary), North Cotswold Schools Federation MAT (4). There are also 4 schools that are stand-alone academies. 

## **Priorities for the academic year 2022-23** 

Set by the Education Team following the review of the 2021-2022 annual plan and supported and inspired by the GDBE Christian vision to serve, guide, support and advise our family of schools: 

Priority 1: Vision and Leadership: to raise the profile and effectiveness of schools’ Christian visions, rooted in clear theology; develop training and support offer for MATs, governors, trustees and members. 

Priority 2: Think, Pray, Do Together: carbon-net zero small steps and strategy; Diocesan global, church, school links and partnerships; RSHE support and development; Courageous advocacy and the launch of the voice of our children; Growing Faith and partnerships; Mental health and wellbeing 

Priority 3: Collective Worship Support, training and resources for collective worship. 

Priority 4: Religious Education - develop quality new agreed syllabus for RE for Gloucestershire (SACRE); develop resources and training to support governors and trustees to effectively monitor; develop and establish the next generation of RE hubs for teachers across the Diocese. 

Priority 5: SIAMS 2018-2023 & 2023 onwards:  support schools who are likely to be inspected this academic year and post inspection; provide additional support for schools identified as being ‘vulnerable’; support through training and advice the roll-out of the 2023 SIAMS schedule. 

Priority 6: Academisation and Sustainability: deliver and share the Home for All Church Schools Strategy; to support and understand – what is a ‘good’ church school? what is a ‘good/strong’ MAT; work with all partners to support the GDBE strategy;  provide information, resources, advice and support for governors, CEOs, trustees, members, headteachers and communities; ensure effective process and appointment of foundation governors, ex-officio substitutes and GDBE corporate members;  support ongoing and new land and building issues;  support recruitment of leaders across our family of schools, including new models of leadership. 

Priority 7: Incorporation – the establishment and development of the new CIO - establish the Executive Committee and ensure smooth TUPE and transition; agree and finalise the SLA with the GDBF, with particular reference to HR and finance;  ensure effective process and appointment of corporate members with clear roles and responsibilities - on behalf of the GDBE - for all MATs and SATs. 

4 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

## **Achievements and Performance** 

The GDBE has established its new form as a CIO, elected/appointed and recruited its new trustees, agreed a Service Level Agreement with the Gloucester Diocesan Board of Finance (GDBF), initiated the TUPE process for the transfer of staff to the new organisation and approved the necessary suite of policies to underpin its functions. It has continued to receive, and make decisions upon, the recommendations from the other committees. 

The Standards and Ethos Committee has followed its terms of reference in support and monitoring of the Priorities of the Education Team in supporting schools in furthering educational standards and developing their Christian distinctiveness and in reporting to the Board on these. This support is much valued by the schools and standards show that it is effective in impact. 

The Resources Committee has considered with care the distribution of the SCA grant to schools, taking into account their Safe-guarding, Health and  Safety, and urgent needs, and has continued to follow up, with advice from the solicitors, several issues pertaining to trusts, buildings and land in order to make recommendations to the full Board. 

The Academisation Committee has considered applications from a steady number of schools and worked with them to make schemes that safeguard the Christian character of each school, and the financial health of each school and its chosen MAT going forward, again making pertinent recommendations to the full Board. 

The GDBE continues to note the recommendations made in the GDBE Review conducted in 2021 prior to the formation of the CIO. 

## **Strategic Aims and Objectives** 

The support of Church of England schools in all areas of their activities. In particular: 

- Development and delivery of religious education and collective worship 

- Protection of the Church of England's interests in academy conversions in Gloucester Diocese 

- Maintenance of church school buildings belonging to trustees of Church of England Schools 

- Protection of the interests of the trustees of Church of England Schools 

- The development of youth and children's work in Parishes and Schools across the Diocese of Gloucester. 

- The support and development of Christian Spirituality in secular institutions of higher and Further education. 

- The provision of Chaplaincy support to church colleges and church-based universities. 

## **Public Benefit Statement** 

The Board exists under the Diocesan Board of Education Measure (2021) ' The Measure sets out the core purpose of the Board of Education, which is 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, 

- promote or assist in the promotion of religious education and religious worship in schools in the diocese. 

- promote co-operation between itself and other persons concerned with education in the diocese. 

5 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commissioner's general guidance on public benefit in exercising their powers or duties. They have carefully referred to this guidance when reviewing the Board's aims and objectives and when planning its future activities, acting in accordance with the Church of England's Vision for Education for the common good of the whole human community and its environment: hospitable to diversity, respecting freedom of religion and belief, encouraging all to contribute from the depths of their own traditions and understandings, inviting collaborations, alliances and negotiation of differences in order to serve the flourishing of a healthily plural society and democracy. 

## **Financial Review** 

## **Principal Funding Sources** 

There is an annual grant agreed in advance by the GDBF as agreed by the Diocesan Synod. A grant of service is provided in addition to cash for the provision of finance. 

## **Financial Performance** 

The charitable incorporated organisation will employ staff to support schools in their maintenance and building projects. For the initial period to 31 December 2022 the staff were seconded from the GDBF to the GDBE with the GDBE donating an equivalent amount of money to the GDBF. 

Additional school support is provided by staff for the development and delivery of religious education and collective worship. This may be in the form of staff directly supporting the school or running training courses and events for the schools. 

## **Balance Sheet Position** 

Net assets at 31 December 2022 are £nil. The GDBF has agreed an annual grant of £115,000 for 2023 to assist with the ongoing costs of the charity. 

## **Reserves Policy** 

Having considered financial risk, liquidity requirement and the timing of cash flows throughout the year, The Board’s policy is to aim to hold reserves equivalent to 3 months budgeted unrestricted expenditure for the year. At the year end, the GDBE had no reserves, and the Board is working to create a strategy to start building these reserves. 

## **Going Concern** 

The Board recognises the risk of financial viability and this is reflected in the actions taken by the Board. The GDBF has agreed an annual grant for the next two years, with an expected on-going commitment. The Voluntary Schools Fund also pays an ongoing grant to cover expenses. Other income sources are being explored by the Board. 

Accordingly, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and do not believe that there are any material uncertainties as to the going concern of the charity.  Therefore, the trustees are content that the charity continues to adopt the going concern basis of accounting in preparing the annual accounts. 

## **Risk management** 

The trustees are responsible for the identification, mitigation and management of risk The GDBE maintains a risk register to identify and support the mitigation of risks, via implementation of a management and mitigation strategy.  This will be reviewed by trustees annually, with the responsibility for risk management delegated to the Resources Committee, where it is a standing item on each meeting agenda. 

6 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

## **Principal risks and uncertainties** 

The risks identified as most significant for the period of this report, and their mitigation strategies are identified below: 

- 1) Lack of clarity of responsibility for financial management, policies and procedures, including lack of commercial banking arrangements leading to material errors in administration. 

## Mitigation Strategies: 

   - Close liaison with the Diocesan Board of Finance to support transition to CIO status 

   - Agreement of new processes and procedures for financial transactions, budget setting and monitoring 

   - Service Level Agreement with Diocesan Board of Finance 

- 2) Loss of Corporate Memory due to staff and trustee turnover leading to inefficient practices or decisions made without understanding of consequences. 

## Mitigation Strategies: 

   - Skills audit of trustees and provision of training as identified necessary 

   - Support from broader DBF and DBE team 

   - Recruitment of high-quality staff 

   - Good quality induction processes 

   - To ensure accurate recording of key decisions 

- 3) Reputational risk caused by pressure on school budgets affecting their staff turnover, viability, effectiveness and ability to find a ‘good home’ within a MAT landscape. 

## Mitigation Strategies: 

- Close working with Local Authority on debt reduction plans 

- Advocacy around solutions to issues at regional and national level. 

## **Structure, Governance and Management** 

The GDBE was registered with the Charity Commission on 27 May 2022 in response to the Diocesan Boards of Education Measure 2021 and is a Charitable Incorporated Organisation (CIO).  The Diocesan Board of Education Scheme dated 13 July 2022 came into operation on 1 September 2022. Those persons who are normally referred to as members of the Board of Education are Trustees in charity law. 

## **Organisation** 

The Board of Education, as defined in statute, has overall control of the activities of the CIO. The operates with four sub committees: 

- Executive Committee, comprising the Chairman of the Board and the Chairmen of the other committees. 

- Standards and Ethos Committee 

- Resources Committees 

- Academisation Committee 

7 



Gloucester Diocesan Board of Education Trustees’ Report For the period 27 May 2022 to 31 December 2022 

## **Trustees and method of appointment** 

The trustees of the GDBE are: 

- (a) The Bishop 

- (b) One trustee appointed by the Bishop 

- (c) 8 trustees elected by the Diocesan Synod, and 

- (d) At least 4 and up to 5 trustees co-opted by the GDBE. 

When recruiting new trustees, consideration is given to the skills and experience of existing trustees in order to ensure a sufficiently wide range of skills is in place to enable furtherance of the CIO's objects. Induction and training is given to new trustees and is ongoing for existing trustees. The term of each elected trustee may last no longer than three years. A trustee may serve no more than three consecutive terms of office without a break of at least one year. 

## **Induction and training** 

New trustees undergo a comprehensive period of orientation and induction with the Chair of Trustees, Diocesan Director of Education and other members of the Board to brief them on their legal obligations under charity and company law, role and responsibilities, vision, strategy and support as well as an overview of how the GDBE fits in with the other entities within the Diocese. 

## **Organisational structure and decision making** 

The Board of Education administers the charity and also has a Service level agreement with the Gloucester Diocesan Board of Finance for services connected with financial resources and human resources. 

A Diocesan Director of Education is appointed by the trustees to manage the day to day operations of the Charity. Key personnel of the GDBE are: 

|Jo Hunter|Interim Director of Education (until September 2023)|
|---|---|
|Jane Borgeaud|Director of Education (from September 2023)|
|Debbie Helme|Principal Advisor School Christian Character, inc. RE and Collective Worship|
|Kerry Geddis|Principal Advisor School Christian Character including Courageous Advocacy,|
||RSHE, Well-being|
|Nicky Wadley|Principal Advisor Governance (until January 2023)|
|Roland Roberts|Principal Advisor Governance (from January 2023)|
|David Williams|Principal Advisor Buildings, Admissions and Trusts|
|Sarah Major|Education Administrator Jumping Fish|
|Hannah Leckebusch|Education Administrator Clerking, Buildings, Finance & Governance|
|Rowan Scott-Berry|Education Administrator inc. SIAMS|
|Emma Pooley|Administrator Education Team|



## **Remuneration of key management personnel** 

The Board is responsible for setting the pay for the key members of staff and any annual increments are agreed by the Chair of the Board. 

## **Custodian Trustee** 

The CIO is the custodian trustee for all Voluntary Aided Church of England Schools in the Benefice area (Diocese of Gloucester) except in cases where it is the actual trustee either by right of the trustee document or following an order under S86 of the 1944 Education Act. 

Under the 2021 Diocesan Board of Education Measure, governors are required to consult the Board and seek written permission to do any work on the school building which involves governor liability. The Board's main objective is to support Christian education and governors in the maintenance and development of school buildings. 

8 



Gloucester Diocesan Board of Education Reference and Administrative Details For the period 27 May 2022 to 31 December 2022 

|**Registered Charity Number**|1199117|
|---|---|
|**Registered office and**|4 College Green|
|**operational address**|Gloucester|
||GL1 2LR|
|**Board of Trustees**||
|Ex-officio (as Diocesan Bishop)|The Right Reverend Rachel Treweek (appointed 13 July 2022)|
|Diocesan Bishop’s Appointment|The Right Reverend Robert Springett – Chair (appointed 13 July 2022)|
|Elected by Diocesan Synod|Dr Matthew Andrews (appointed 13 July 2022)|
||Reverend Rachel Beck (appointed 13 July 2022)|
||Dr Joan Grills (appointed 13 July 2022)|
||Jennifer Lane (appointed 14 February 2023)|
||Mr Jonathon Millin (appointed 13 July 2022)|
||Ian Moore (appointed 13 July 2022)|
||Susan Padfield (appointed 13 July 2022)|
||Alastair Taylor (appointed 13 July 2022 and resigned 6 December 2022)|
||Bernice Webber-Brown (appointed 13 July 2022)|
|Co-opted|Emma Mignaud (appointed 1 September 2022)|
||Guy Phillips (appointed 1 September 2022)|
|**Bankers**|Barclays Bank plc|
||18 Southgate Street|
||Gloucester|
||GL1 2DH|
|**Independent Examiner**|Adam Halsey|
||On behalf of Haysmacintyre LLP|
||10 Queen Street Place|
||London|
||EC4R 1AG|
|**Investment Managers**|CCLA Investment Management Ltd|
||80 Cheapside|
||London|
||EC2V 6DZ|



9 



Gloucester Diocesan Board of Education Reference and Administrative Details For the period 27 May 2022 to 31 December 2022 

## **Trustees’ responsibilities in respect of the financial statements** 

The Trustees are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure for that period.  In preparing those financial statements the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP; 

- Make judgements and estimates that are reasonable and prudent; 

- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. The Trustees are also responsible for safeguarding the assets of thecharity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Board’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

The Trustees’ report, incorporating the Strategic Report, 

was approved by the Board of Trustees on 26 October 2023 

Dr Joan Grills Vice-Chair, Gloucester DBE 

10 



Independent Examiner’s Report To the Trustees of Gloucester Diocesan Board of Education For the period 27 May 2022 to 31 December 2022 

I report to the trustees on my examination of the financial statements of Gloucester Diocesan Board of Education (the charity) for the period from 27 May 2022 to 31 December 2022. 

## **Responsibilities and basis of report** 

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- 1) the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- 2) the accounts did not accord with the accounting records; or 

- 3) the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Adam Halsey For and on behalf of Haysmacintyre LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG 

> Date: 30 October 2023 

Haysmacintyre LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 

11 



Gloucester Diocesan Board of Education Statement of Financial Activities For the period 27 May 2022 to 31 December 2022 

|Note<br>**Income and endowments from:**<br>Donations and grants<br>2<br>Other income<br>2<br>**Total income and endowments**<br>**Expenditure:**<br>Charitable activities<br>3<br>**Total expenditure**<br>**Net income/(expenditure)**<br>5<br>**Net movements in funds**<br>**Reconciliation of funds**<br>**Funds at the beginning and end of the period**<br>12|Period to<br>31.12.2022<br>Unrestricted<br>Total<br>£’000’s<br>175,374<br>3,140|
|---|---|
||**178,514**|
||178,514|
||**178,514**|
||**-**<br>**-**|
||**-**|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. 

The notes on pages 14 to 19 form part of these financial statements. 

12 



Gloucester Diocesan Board of Education Balance Sheet 31 December 2022 

|Note<br>**Current assets**<br>Debtors<br>8<br>Cash at bank and in hand<br>**Total current assets**<br>Creditors: amounts due within one year<br>9<br>**Net current assets**<br>**Net assets**<br>**Funds**<br>_Income funds_<br>Unrestricted funds:<br>General Funds<br>12<br>**Total funds**|31.12.2022<br>£’000’s<br>9,949<br>-|
|---|---|
||**9,949**<br>(9,949)|
||**-**|
||**-**<br>-|
||**-**|



Approved by the Trustees on 26 October 2023 and signed on their behalf by 

Dr Joan Grills Vice-Chair, Gloucester DBE 

Charity number: 1199117 

The notes on pages 14 to 19 form part of these financial statements. 

13 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **1 Accounting Policies** 

The principal accounting policies adopted in the preparation of the financial statements are set out below. They have been applied consistently during the period and in the preceding period. 

## **1.1 Basis of preparation** 

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of investments and fixed asset land & buildings being measured at fair value through income and expenditure within the Statement of Financial Activities. 

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2nd Edition, effective 1 January 2019). 

The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP including update Bulletin 2) and the Charities Act 2011. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the neared one thousand pounds. 

The principal accounting policies adopted in the preparation of the financial statements are set out below. 

## **1.2 Going concern** 

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions, that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity’s forecasts and cash flow projections and have factored in pressures on grants and donations with the situation being kept under constant review. After making enquiries the trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. 

## **1.3 Income** 

All income is included in the Statement of Financial Activities when all of the following criteria are met: 

- Entitlement - control over the rights or other access to economic benefit has passed to the Charity. 

- Probable - it is more likely than not that the economic benefits associated with the transaction or gift will flow to the Charity. 

- Measurement - the monetary value or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. 

## _**Grant from Gloucester Diocesan Board of Finance**_ 

The annual grant is agreed in advance by the GDBF as approved by the Diocesan Synod. A grant of service is provided in addition to cash for the provision of finance and other services. 

14 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **1.4 Expenditure** 

Liabilities and constructive obligations are recognised in the Statement of Financial Activities in the year in which approval is given by the Trustees regardless of the due dates for payment. All charitable activities expenditure relates to grants awarded and there are no directly undertaken activities. 

Exemptions to this are as follows: 

- Commitments which are dependent upon explicit conditions being met by the recipient are treated as contingent liabilities where those conditions have not yet been met. 

- Support costs have been allocated to funds on the basis of the time spent during the period. 

## **1.5 Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **1.6 Pension costs** 

The GDBE’s staff are members of the Church Workers Pension Fund. 

The charity operates two pension provisions. Staff who were formerly employed by Gloucester Diocesan Board of Finance, participate in a direct contribution scheme at the same employer's contributory rate. New employees participate in a direct contribution scheme set up by the new entity to which the employer's contribution is 10%. 

## **1.7 Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and assumptions that affect the amounts reported for income and expenditure during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements are considered by the Trustees to have the most significant effect on amounts recognised in the financial statements. 

There were no significant areas of uncertainty that would affect the carrying value of assets held by the Charity. 

## **1.8 Debtors** 

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 

## **1.9 Creditors** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are normally recognised at the settlement amount after allowing for any trade discounts due. 

15 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **2 Analysis of income** 

|**Donations and grants**<br>Diocesan Board of Finance General Funds<br>Voluntary Schools Fund<br>St Matthias Trust<br>**Income from charitable activities**<br>Training and courses|**Period to**<br>**31.12.2022**<br>**£’000’s**<br>35,987<br>117,887<br>21,500|
|---|---|
||**175,374**|
||3,140|



## **3 Governance and support costs** 

The breakdown of support costs and how these were allocated between governance and other support costs is shown in the table below: 

|Staff costs<br>Office expenses<br>Professional fees<br>Miscellaneous costs<br>Trustee expenses<br>Independent examination<br>Other charitable activities|**Governance**<br>**£'000's**<br>-<br>-<br>14,374<br>-<br>-<br>2,000<br>16,374<br>-<br>16,374|**Support costs**<br>**£'000's**<br>140,502<br>7,447<br>-<br>4,489<br>-<br>-<br>152,438<br>9,702<br>162,140|**Period to**<br>**31.12.2022**<br>**£'000's**<br>140,502<br>7,447<br>14,374<br>4,489<br>-<br>2,000|
|---|---|---|---|
||||168,812<br>9,702|
||||**178,514**|



Administration, management and governance costs have been allocated to charitable activities based on staff time. 

## **4 Charitable expenditure** 

|School and governor support<br>School buildings support|**Period to**<br>**31.12.2022**<br>**£'000's**<br>138,845<br>39,669|
|---|---|
||**178,514**|



16 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **5 Net income/(expenditure)** 

This is stated after charging the following: 

|**5**<br>**Net income/(expenditure)**<br>This is stated after charging the following:||
|---|---|
||**Period to**|
||**31.12.2022**|
||**£'000's**|
|Independent Examiner's remuneration|2,000|
|**6**<br>**Staff costs and numbers**||
|Staff costs were as follows:||
||**Period to**|
||**31.12.2022**|
||**£'000's**|
|Salaries and wages|108,648|
|Social security costs|11,741|
|Pension costs|20,113|
||**140,502**|
|The number of employees who earned more than £60,000 during the period was as follows:||
||**Period to**|
||**31.12.2022**|
||**No.**|
|£60,000 - £69,999|1|
||**Period to**|
||**31.12.2022**|
||**No.**|
|The average number of employees in the period was:|8|



The GDBF employed staff members for the Charity during the period and the costs of these employees has been recharged. The Charity considers its key management personnel comprises the Trustees and the Director of Education. The total employment benefits including pension contributions of the key management personnel were £29,749 for the period. 

## **7 Trustee and connected persons transactions** 

No remuneration has been paid to the Trustees during the period. 

No expenses have been reimbursed to the Trustees during the period. 

17 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **8 Debtors** 

|<br>**Debtors**||
|---|---|
|**Amounts falling due within one year**<br>Trade debtors<br>Prepayments and accrued income<br>Other debtors<br>Total due within one year|**Period to**<br>**31.12.2022**<br>**£'000's**<br>1,850<br>2,581<br>5,518|
||**9,949**|



**9 Creditors: amounts falling due within one year** 

|<br>**Creditors: amounts falling due within one year**||
|---|---|
|Trade creditors<br>Accruals and deferred income|**Period to**<br>**31.12.2022**<br>**£'000's**<br>6,644<br>3,305|
||**9,949**|



## **10 Related parties** 

The GDBF provides financial support to the charity in the form of grants and a service level agreement. The charity is dependent on the grants to continue its charitable activities and has received a letter confirming the level of grants receivable from the Gloucester Diocesan Board of Finance in 2023. 

The Voluntary Schools Fund and Bishop Headlam Trust are charities controlled by the Gloucester Diocesan Board of Education. The charities became wholly owned subsidiaries of the Charity in 2023. The Voluntary Schools fund provides a grant to the charity for staff members to ensure the objects of the charity are fulfilled. 

## **11 Analysis of net assets by fund** 

|Current assets<br>Current liabilities<br>**12**<br>**Analysis of funds**<br>**Unrestricted funds:**<br>**Undesignated**<br>**General Fund**<br>**Total all funds**|**Balance**<br>**27.5.2022**<br>**£'000's**<br>-<br>-<br>**-**|**Unrestricted**<br>**Funds**<br>**£'000's**<br>9,949<br>(9,949)<br>-<br>**Income**<br>**Expenditure**<br>**£'000's**<br>**£'000's**<br>178,514<br>(178,514)<br>178,514<br>(178,514)<br>**178,514**<br>**(178,514)**|**Unrestricted**<br>**Funds**<br>**£'000's**<br>9,949<br>(9,949)<br>-<br>**Income**<br>**Expenditure**<br>**£'000's**<br>**£'000's**<br>178,514<br>(178,514)<br>178,514<br>(178,514)<br>**178,514**<br>**(178,514)**||**Total**<br>**31.12.2022**<br>**£'000's**<br>9,949<br>(9,949)|
|---|---|---|---|---|---|
||||||-|
||||||**Balance**<br>**31.12.2022**<br>**£'000's**<br>-|
||||(178,514)||-|
|||||||
||||**(178,514)**||**-**|



18 



Gloucester Diocesan Board of Education Notes to the Financial Statements For the period 27 May 2022 to 31 December 2022 

## **13 Pensions** 

The GDBE participates in the Church Workers Pension Fund (CWPF) scheme administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of the GDBE and the other participating employers. 

For eligible salaried employees the GDBE participates in the Church of England Pension Builder Scheme (PBS), within the Church Workers Pension Fund. 

## **Pension Builder Scheme** 

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes. 

_**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. 

_**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. 

There is no sub-division of assets between employers in each section of the Pension Builder Scheme. 

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102.  This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme.  The pensions costs charged to the SoFA in the year are the contributions payable. A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022. 

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time. There is no requirement for deficit payments at the current time. 

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. 

The legal structure of the scheme is such that if another employer fails, Gloucester GDBE could become responsible for paying a share of that employer’s pension liabilities. 

19