Newcastle Diocesan Education Board Annual Report & Financial Statements Year ended 31st December 2023 Company number- 00480293 Registered charity number- 528076 A large print version is available on request from Mrs E Bell Joint Education Team Church House St John's Terrace Percy Main North Shields Or email: Eileen.bell@drmnewcanglican.org IIN 11111 •)MIlA* 13109r2024 COMPANIES HCSE A27 21
NEWCAsfLE DIOCESAN EDUCATION BOARD TABLE OF CONTENTS PAGE NUMBER Vision Statement Directors Annual Report Administrative details 14 Independent Auditors Report 16 Statement of Financial ActNlties incorporating Income and Expenditure Account 20 Balance Sheet 21 Statement of Cash Flows 22 Notes to the Financial Statements 23
NEWCASTLE DIOCESAN EDUCATION BOARD Vision Statement The Diocese of Newcastle works together in education with the Durham Oiocese and 15 cornmitted to the flourishing of all children 3nd young people and the part that education plays in achieving thi5. We wish to offer the highest quality of education across the North East to ensure each and every child achieves theiT full potential across Jll areas of the curriculum whilst having a livelyengagement wrth the Christran faith within the setting of a Christian community, working closely with all of our schools. whether voluntary aided, voluntary controlled or academies / trusts. We wish to ensure clergy are fvlly equipped to serve their local schools, that the church appoints skilled governors who are able to ensure the scht)ol does the very best ir can and that all staff'fknurish-and"develop to their full¥str potential.
NEWCASTLE DIOCESAN EDUCATION BOARD DIRECTORS ANNUAL REPORT The direttors, who are also trustees under charity law. present their annual report. together with the audited financial statements, for the year ended 31" December 2023. This cornbined report satisfies the legal requirements for: a Directors Report of a charit3ble company. Trustees Annual Report under the Charities Act 2011 LEGAL OBJEcrs Newc3Stle Diocesan Education Board INDEBI aims to prornote, facilitate and assist the work and purposes of the Church of England in education across the Diocese of Newcastle and elsewhere. NDEB'S principal objects, set out in the Diocesan Boards of E(Jvcation Measure, are.. The promotion of educatiornin the Di¢xese, nsIStent with the tsith and practice of the Church of England. The promotion of religious education and religious worship in lalll schools. The promotion of Church xhools in the Diocese and proviSn of ao%tice to their Governors. ' The promotion of cOperatIon between the 8oard bodies concerned in any respect with education in the Diocese. The NDEB Articles were updated by special resolution of the Member5 in December 2021 (effective from 4 March 2022 following Charity Commission consent) to reflect the Diocesan Boards of Education Measure 2021 and additional objects to those above set out in the new Articles are=_ To promote or 3sSlSt in the promotion of children and youth work in the Diocese that is consistent with the faith and practice of the Church. To promote co-operation between itself and other persons ¢on¢emed with children and youth work in the Oiocese. and To carry out the funrtions assigned to the Charity by the Measure. As far as schools are concerned NDEB is mainly concerned with matters to do with Church of England schoo15, but as part of the established Church. and its duty to promote education and co-operation between bodie5 invofved in education it also seeks to contribute where it can to the development of all schools especially, but not only, in matters of religious education and collertive worship. The company was formed to provide support for the 49 Church of England schools across the Diocese. The strategic priorities of the Company are established by NDEB in communication with Diocesan Synod. Deanery Synod, and the Bishop of Newcastle. To this end, significant time and effort is committed to communication between nd with these bodies. as well as the National Church of England Education Offi. NDEB'S strategy for achieving its objectNes is to develop financial structures to enable it to provide enough staff and resources to support the Church of England schools in the Diocese. To assist with this NDEB offers a Partnering Agreement IPA) to Church of England schools in the Diocese.
NEWCASTLE DIOCESAN EDUCATION BOARD The directors are aware of the Charity Commission's guidance on public benefit in The Advt7ncement of Relwionfor the Public 8enefit and have had regard to it in their administration of NDEB. The directors believe that, by promoting the work of the Church of England in the Diocese of Newcastle, NDEB helps to promote the whole mission of the Church (pastoral, evangelistic. social and ecumenicall more effertNely. both in the Diocese as a whole and in its individual parishes and schools. and that Kn doing so it provides a benefrt to the public bv.. Providing facilities for public WQfship. pastoral care and spiritual. moral and intellectual development, both for its members and for anyone who wishes to benefrt from what the Church offers; and Promoting Christian values, and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole- and Providing a servrce to the whole community. not just the Christian constituency. All children are welcome in the Church of England schools in the diocese. including children of all faiths and none- and Providing schools that a places of education. not proselytism. offering opportunities for young people to make the most of their inherent potential, and so make a contribution to the society of which they are a part. Comparisons with national Ofsted ratings show that in aggregate the C of E schools in Newcastle Diocese are performing well above national averages. ACTIVITIES AND ACHIEVEMENTS IN THE YEAR Nation"al e"du¢ation landscape and Implications Although schools have continued to be encouraged to Consider the Education WhTte Paper~Opportunity for All", the pace of change has been perhaps slower than envisaged. Schoo15 are still dealing Wlth the challenges Cjf the pandemic with some alarming statistics regarding the widening gap in achievement for those from disadvantaged areas compared to non4isadvanta8ed, the rise bn SEND need and the poverty gap. This. along with a recruitment and retention crisis, means that schools are focusing on the day-to-day challenges. The Joint EducatTron Team IIETI continue to support schools daily through a variety of ways: Christian Distinttiveness, RE, Church school leadership support and working a5 Challenge and Support partner5. Some of that support 15 Qffered fa-tO-face, whereas much of the CPO has remained online, enablin8 more staff to access the training and reducing the costs of travel and time. Numbers remain strong for diocesan training events and feedback has been overwhelminEIy posltive. Our Diocesan Academy Strategy Paper has been reviewed and updated with schools encouraged to contact the diocesan team directly if they have chosen to explore the a¢ademis3tion route. Links with our trusts remain strong and schools are encouraged to consider all trusts within their dio¢Èse if considering this seriously. The Dirertor meets termly with both the Regional Director and the Diocesan HMI Otsted Link, as well as with the 3 local authorities that serve Newcastle Diocese. The number of church School academies Wlthin Nev•castle Diocese continues to rise slowly but this has increased to 15 since last year. Additionally. some schools are also exploring soft federation partnership with neighbouring schools in or(Jer to provide value for money with procurement and to tackle some of the thallenges in recruitment. The schools in 8erwick affected by the move to a two-tier system are also working closely with the Diocesan JET team to ensure that the curriculum ond the buildin85 are fit for purpose. The p051tion of the Board this year has remained that changes to school structures must be looked at on 3 case by case basis in line with government policy where relevant but most importantly in the interests of the children and families that we setve. We continue to work in partnership with our Mixed and Church Multi Academy Trusts (MATS) to support our church schools looking at Trust options. In addition, we a also working closety with our Voluntary Aided Schools to ensure that building5 are fit for purpose and with the levant locèl authority representatives of our Voluntary Controlled Schools.
NEWCASTLE DIOCESAN EDUCATION BOARD Our concerns remain regarding the levels of funding maintaining our schools. With the rising costs of utilities and uncertainty over future funding every school is now facing significant funding issues and this is lèading to further exploration of shared services across our schools and Trusts. Operations and Staffi Staffing remains stable despite some significant staffing changes over the past twelve months with the Director of EducationlDDEI leaving in August to take up a full-time role as the CEO of the Durham and Newcastle Diocesan Trust. An Interim Director of Education shadowed the DDE over the 5urnmer term and took up post in September. This post will be athertised in the forthcoming year following on from a strategic analysis of the work of the Joint Education Team and the educational landscape moving forwards. The role remains pivotal and ensures that both dioceses are continuing to meet their statutory duties according to The Measure. We now have a full-time RE Adviser and this post conintues to be 5UPPOrted by the St Hild and St Bede Trust in order to further enhance RE provision in all of our 106 schools across both dioceses, as well as support the teaching of RE through the RE Network. We also continue to support RE across all schools in the region by supporting Standing Advisory Council on Religious Education ISACREI acros5 the 10 LAS. A review of the RE curriculum has been conducted ready for the launch in 2024. The administrative and.finance team have been strengthened lollowing-a period last year.where it was proving difficult to appoint. A temporary administrative assistant and a new part-time permanent finance a5SlStant were employed in October which has enabled us to streamline our administrative processes. particularly uploading all paper documents into an electronic format. In addition, the temk)orary role of 0.2 JET team assistant has been pivotal is enablin8 the launch of the new Joint Education Team website and streamlining events, management. The JET Handbook has also been revised. 100% of schools across both Newcastle and Durham Dioceses have bought into the Partnering Agreement and attendance to the diocesan CPD programme is strong. Challenges and Achievements Our schools across both dioceses continue to flourish. Inspertion outcomes remain stron8 with ICQ% of the 8 schools Insperted for SIAMS achieving at least Good Irf before Sepiember 231 or-living up to tts foundation as church school- since then. 8espoke support has been provided for any schools who are the list for ~those most likely to be inspected" with tailored feedback.and additional staff CPD according to need. SIAMS reports confirm this as can be seen in the following comments from schools across Newcastle Diocese- "RE is well-led, providing pupils with o curriculum which is both bolonced ond well-sequenced. Informed monitoring by leoders, including governors. ensures RE is relevortt. well-resourced ond effective. Leoders curefully trock progre55 and occe55 training through the valued rel(7tionship with the Diocese of Newcostle education teom. This. combined with highly effective teaching. ensure5 that pupi15, including those who have SEND or ore disudvontoged. moke good progress. Pupils disploy a highly developed religious literacy including strong knowledge of o ronge of worldviews andfoiths. including Christianity. They under5tond thot Christionity is 0 9lobolAoith." (SIAMS Holy Trinity Firstschool Oct2023J In addition, of the 14 schools inspected by Ofsted. 13 were judged as Good or Outstanding. This is extremely impressive given the new Ofsted Framework. Comments show how the Christian Distinctiveness is rooted in the school's ethos, for example:
NEWCASTLE DIOCESAN EDUCATION BOARD "Pupils enjoy their time ot this inclusive school. The ChTlStion ethos of 'let your light shine, reolly does permeote Gllospects ofschoollife... Leoders wont the bestforollpupils. They5et hi9h expectotionsforpupils to be successful in their ochievements. Pupils know this and respond well to such expectotions. Pupils, behaviour is good.- IRichord Coutes CE Primory Schooljuty 2023J Overall. the reputation of the Joint EdLtcation Team remains strong across both dioceses due to the knowledge and 5UPPOrt of the individual team members. With all schools bLtying in to the Partnering AgeMent. our diocesan family of schools continues to flourish. The team continue to offer termly updates to Chairs and Ex-officios on legal and governance matters,. these 3re always well attended and feedback has been extremely positNe. This is mirrored in the CPD Pfogramme that is varied and offered to all schools. supporting schools with Christian DistiActivenÈss. SIAMS. RE, school effertiveness and subject knowle¢Jge to name only a few. In addition, the JET conferences are well attended and offer staff not only the chance to engage in bespoke trainin& but also to network with one another. The Diocesan Strategy is now firmly embedded and Schools are supported in their academisation process, whether this is in the initial srages, during consultation or when joining a multi-academy trust. In 2023, 9 church Schools joined one of the ? MATS lisied in our diocesan strategy. The CEOS of the varying trusts meet or communicate regulady with the Director and the Assistant Director for Legal and Governance. The challenges regarding Tiny and Rural Schoo15 remains a challenge, as are the recruitment and fin3ncial pressures that many of our schools face. However, all of our schools and trusts are very forward-facing and work together to ensure that the needs of our pupils and COlTimunity are priorit15ed so that all flourTrsh. Challenge and Support work continues across both dioceses and still forms a significant part of our workstream for the standar(Js and effeetiveness streams. The challenge is in recruiting consultants. However. we have been fortunate to be able to work closely with our existing consultants, as well as additional ¢onsLbltancy support for Early Years and also the new SIAMS inspection framework. The JET LLP. a joint venture vehicle between the two dioceses was successfully set up and became operational in September 2023 to enable thejoint Education Team to operate asa legal entity in its own right reflecting itsexistinB reputation as a strong provider of support for schools across both Oioceses. The Operations and Co-ordination Group have reviewed their Temis of Referen¢e and also the Scheme of Delegation. Over the next year, the group will be focusing on developing a 3-year financial plan in order to ensure that any financial risks to the new organisation are minirnised. Working wlth ¢ommunities We continue to focus on working with communities and look to develop links and partnerships to assist our school5. Examples of this work include the following= The Director meets regular with the Children's Ministry teams from both dioceses. Following on from a stratègic meeting. the group have set an action plan regarding a joint approach to the Leavers, Service in 2024 focusing on pupil voice. This will be incorwrated into the Y4tY6 Leavers. Services in 2024 with Secondary pupi15 5UPPQrting the prayer space stations. The team are working with both diocese5 on their route to becoming carbon neutral. We have employed an administrative assistant to support the work of both dioceses for one day per week. A5 Pan of this process. we are building up a dossier of each school's carbon footprint and are considering this in our procurement strategy for each diocese. The Oirertor continues to meet with representatives from all io local authorities. as well as with the Regional Director and the diocesart HMI link with Otsted. This ensures that the voices of the dioceses are heard and that the dioceses are part of any strategic planning, suth as the Northumberland constjltation to a two-tier system.
NEWCASTLE DIOCESAN EDUCATION BOARD Nationally, the team work c105ely with the CE Foundation to support adership and rnanagement across all phases of church school education. The board have considered the workload and well-being of the team. The Director has represented the diocese with ESFA to look for funding for rural schools in the summer term. The board have supported the merger of Three Rivers and Tyne Community Learning Trust to become Cheviot Learning Trust. The board have enga8ed enernal building surveyors to audit all of the voluntary aided schools across the diocese We continue to work with schools and trustees of endowment funds linked to schools in relation to land and charity law issues We continue to work with schools who are now within our MATS. or wish to join MATS community schools. We work with school cluster group5 to support networking and discussion between Church Head Teachers. We have now delivered Understanding Christianity to all church schools and several community schools. Our team have worked in several community schools to supp)rt standards and achievements. We are regularfy asked by schools to broker services for them which are fit for purpose and cost effective. We are working in several locations with regards to 'shared leadership. which involves bling communities closer together. -we are seen as a partnerto our_3 Lo¢al Authorities in the Newcastle. North Tyneside andorthUMberland area. includin8 Other related parties incltKle Transactions within the main categories of related parties are identified in approprtrate places throughout the financial statements. Where materiality of the transactions merits more detailed disclosure this is given in note 18 to the financial statements. Other related parties include= The Joint Education Team LLP. The NDEB is a partneT alongside the Durham Diocesan Board of Finance and jointly employs the JET staff team. The Newcastle Diocesan Board of Finance INDBFI works closely with NDEB and the two charities are tompanies within the Newcastle Diocesan framework. They share the sarne re8lStered office and some directors serve on both boards. The Durham Diocesan Board of Finance IDDBFI is a neighbour to the 50Uth of Newcastle. NDEB and the DDBF have continued to work closely together and they now jointly employ 9 members of staff with JET LLP. A common pool of SIAMS inspectors has been established and joint training for them continues as (Joes in-service training Ilnsetl on religious education and school worship for staff and training for clergy on ways to work with schools. The Church of England Pensions Board. to which NDEB pays retirement benefit contributions for employees. FUTURE PLANS From I" January 2024 the work of the Joint Education Team IJETI will be accounted for and reported through the JET LLP, although supported by Newcastle Diocesan Education Board INDE81 and Durham Diocesan Board of Finance IDDBFI. Work of the Jet LLP will include focusing on the move to a two-tier system in the Berwick partnership area in Northumberland. The cOnsuation 15 now over and the focus will be on the architectural challenges to ensure that all of the First Schools are ready to welcome in an additional class in September 2025 and another the following
NEWCASTLE DIOCESAN EDUCATION BOARD year as they become primary schools. There will also be a need to support the schools With the development of the YS and Y6 curriculum. as well as through the recruitment process. The Director. Bursar and Asststant Director for Legal and Govemance continue to be heavily involved in the process in order to support the schools concerned and will keep the board apprised. Work will continue to be done to SUPPOrt schoo15 and in particular Head Teachefs. wellbeing in the current challenging period for the sector as they face increased parental complaints. significant financial challenEes as a result of falling pupil numbers and increased costs for staff pay rises. a rise in SEN and behavioural issues and limited alternative and special provision. Further work will continue to support schools on the 2023 -24 and the 2024-25 SIAMS~likely to be inspected" list. Plans a in place for the upskilling of ihe team with another team member r¥)w training to be a SIAMS inspector and support in place for Headteachers and Chairs of Governors. In addition, the new RE syllabus will be launched in the Spring Term for implementation in September 2025 or soonèr if schools are able to do so. One significant challenge is falling Tolls. particular across Northumberland and the impact this could have on our Tiny and Rural schools in particular. Finally, the challenges irt recruitment, including govemance. remains. The board will need to consider how best to support schools where there are vacancies in parishes and where schools have Foundation Governor vacancies. -W.ithin this..there will also be a need to support tr.usts.through CPO, both CE andmixed MATS, as they grow in order . to protect the distinctiveness of our church schools within the wider landscape and to ensure that they keep their church identity. FINANCIAL REVIEW Flnancial Performance Overall income has decreased by £225,424 to £323.221 compared to 2022. Unrestritted income decreased by £187,748 mainly due to the sale of Hedley Bank. less income received from Durham and Newcastle Diocesan Learning Trust to cover tost of seconded stsff, a reduttion in School Improvement income and Conference fees. The current level of unrestricted funds. free and readily realisable. amounts to £82,352 12022.. £295,0011 and represent investments of £200,00012022.. £2.oCK)I plus cash and current assets of- £117.64812022-. £95.001 as detailed in note 17 to the financial statements. Trustees are aware a transfer ot funds from resetves will be necessary in orderto meet all of its financial obligation5 during the coming yearwhich includes supporting the work of the joint Education Team LLP. There wa5 a unrestricted deficit for the year of £212,249 against a budgeted deficit of £121,520. The budget covers only the Unrestricted Fund, the Section Fund and the compari50n to budget is made without the inclusion of year- end gains on investments. Ovefall NDEB has met all of its financial obligations to continue resourcing educational needs across the Diocesan schools. Investment performance Investments are held in general. section and special purposes funds. The totsl value of investments, ex¢ludin8 short-term cash deposits. at 31" December 2023 was £2.243.38112022.. £2,330.9221- lftvestments decreased bv £87.541 overall which includes £2Crf) additions in listed investments. net disposals of £262.464 and revaluations of £174,723 Balance sheet position Funds per the balance sheet show an ¢)verall reduction of £25K. This is the combined impact of a gain on investments le55 overall net expenditure in the year.
NEWCASTLE DIOCESAN EDUCATION BOARD Reserves Poll¢v Free resee5 The Board needs to keep a certain level of reserves as protection against unexpected fluctuations in income, to assist at certain times of the year with cash flow, and to allow the Board to operate to fulfil its charitable objects. NDEB also aims to hold sufficient funds to cover six months operating ¢osts. It is therefore the Board's policy to hold a total of at least £IOO,O(K) in reserves to satisfy this requirement. At December 2023 the unrestricted reserves were slightly lower than the minimum level required by this policy1£82.3521 due to the setting up of the JET LLP being established and initial setup funds being transferred. Restricted reserves As set out in note 17 NDEB holds and administers a large number of restricted funds. As at 31" December 2023 restflcted funds totalled £2.425,11712022= E2.237.8121. These funds are not available for the general purposes of the NDE8 although income tan be expended on provison of advice and guidance. SIAMS inspections and staff costs. Investment policy The Memorandum and Articles of Association of the charity pemit wide powers of investment. The investment policy of NDEB is based on the overall investment objective of achieving a balanced return with moderate risk, preserving the capital and income of NDEB in real terms over the medium term. A review of NDEB'S investments was Completed in 2018 and a decision was taken to move investment funds to CCLA in line with Church of England ethical investment principles in 2019. PRINCIPAL RISKS AND UNCERTAIlEs The directors confirm that the major risks to whKh NDEB is exposed. as identifd have been reviewed and systems and procedures have been established to rnanage those risks. In summary maior risks include:_ the need to respond to changing government polity on education and ensure there 15 appropriate staff capacity and resource within the team to do this effectively. the risk of reputational damage arising from working atr05s a geographKal area including many small rural schools. partnership wide structural changes and possible school closures. ensuring appropriate communications and PR support when urgent issues arise. financial risks arising from financial constraints to fund the team's work and school funding. The dirertors, delegate to the Finance and Property Committee the tssk of ensuring that risks are reviewed and managed as part of the risk management strategy, and that procedures and controls are designed to minimise any potential impact on NDEB should any of the risks materialise. A risk register has been compiled and contains further detail on possible levels of risk and system5 in place for managing the risk. The Finance and Property Committee reviews the risk register periodically and reports to directors whether it is Satisfied with its findings and makes recommendations for further work in subsequent years. The directors review the risk register at least annually as part of the corporate risk management strategy. This may move to a more regular event due to the impact of COVID 19. although the reserves positron provides a buffer from immediate concern. STRUCTURE AND GOVERNANCE Summary information about the structwe of the Newcastle Diocesan Education Board NDEB has to comply with Measures passed by the General Synod of the Church of Englantl and is required to give heed to recommendations andlor advice from the Archbishops, Council Board of Education and the National Society. NDEB must also help Church of England schools in the Diocese to comply with education law and guidance io
NEWCASTLE DIOCESAN EDUCATIOP4 BOARD from the DfE. NDE8 seeksto influence and support. but has no direct control. overthe 49 Church of England schools in the Diocese. Sthools are led an(1 managed by their governing bodies. head teachers and senior staff. The accounts of Church of England schools do not form part of these financial statements. Within the Board, several directors are Head Teachers or former Head Teachers and several are governors lor academy trust directorsl in Church of England schools in the Diocese. Head teachers and governors are encouraged to make their views known to NDEB and its staff in a varietyof ways including evaluation of conference5 and courses, during staff and directors, school visits, telephone and email contact. Organisational structure The company was incorporated on 30 March 1950 and re-constituted in its present structure on 20, October 2003 as a charitable company limited by membership guarantees (No. CIM802931. registered in England and its governing documents are the Memorandum and Arricles of Association. NDE8 is registered with the Charity Commission (No. 5280761. Whilst this falls outside of the reporting year. the NDE8 Articles were updated by special resolution of the Members in December 2021 (effective from 4 March 2022 following Charity Commission consent) to reflect the Dio¢esan Boards of Education Measure 2021 and the board was re-constituted under the new Measure on I" January 2022. The Board is a Statutory body under the Drocesan Boards of Education Measure 2021 and is the sole trustee of the Uniform Statutory Trusts (also known a5 Section Funds). which are now governed by section 554 of the E(lucation .Act 1996. The.funds held in trust.are derived from ancient educational endowments and.the'proceeds of property". sales authorised by the Department for Education IOfEI under section 86 of the Education Act 1944 and section 2 of the Education Act 1973. Decision making structure The Oiocesan Oirector of Education is the Company Secretary of the NDEB. NDE8. under the new Articles. has a quorum of a third of directors lsubject to a minimum of foLsrl and meets at least three times each year. with an additional meeting held if required. The previou5 quorum which appl during the reporting year was eight. The Board may establish committees to assist in the discharging of its functions. with membership of any such committee extended to include persons who are not members of the Board. There is currently a Finance and Property Committee in place which has written temis of reference= Finance ond Pro matters. Committee deals with matters of finance and legal compliance. policies and property related Director recruitmenL selection and indurtion Eath direcror is inducted into the strurture and work of NDEB. the Boards of Education Measure, the Memorandum and Articles of Association, the committees and their terms of reference, and members. legal obligations under charity and company law. Directors are encouraged to undertake personal development that will facilitate the execution of their role. Rernuneralion of key management personnel Emoluments of higher paid employees are determined by Operational and Co-ordination Group (made up of members of both the NDEB and Durham Diocesan Board of Education) with reference to appraisals. remuneration and salary benchm3iking. Delegation ol day to day delt¥ery Since the advent of Joint Working between the Education Boards of the Dioceses of Newcastle INDEBI and Durham IDDBFI in September 2010, the Diocesan Direttor of Education is appointed jointly by the two Dioceses to manage the day to day operationsof their Education Boards. The Director and staff are employedjointly by NOE6 and DOBF. li
NEWCASTLE DIOCESAN EDUCATION BOARD The Director has dele8ated authority for operational matters ifKluding finance. employment and other activities pursuant to the objectives of ODBF and NDEB. Funds held a5 CUSt¢dian trustee The Board acts as Custodian trustee responsible fortrust funds held for specific purposes and monies held on behalf of others. The funds held by NDE8 as custodian trustees comprise investments amounting to £231.099 as at 31 December 202312022.. £209.4941 and these are held on behalf of a number of small organisations whose objects are to promote religious educational activity among Sunday schools and other similar establishments, all of which falls within the object5 of the Board. The funds are held in separate bank deposit accounts and identifiable investment funds. In accordance with the requirements of the Statement of Recommended Practice these funds are not shown in the charity's balance sheet. Furbds held on behalf of sthools NDEB receives contribLrtions from governors of church schools within the Diocese in connection with major repairs and capital projects to church schools and also g¢)vernment grants in connection with the same. School funds held by NOE8 total £674,26S as at 31° December 202312022= £1,195,8181 NDE8 administers these monies as managing agents and makes appropriate payments to contrartors for work carried out. Monies do not belong to the Board of Education and as such the receipts and payments are not treated as income and expenditure in the Ststement of Financial Activities. DIREcfoRS RESPONSIBILITIES The directors are responsible for preparing the Oirectors, and Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the dirertors to prepare financial statements for each finaneial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the chèritable company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting p)li¢ies and apply them consistently.. Observe the methods and principle5 in the Charities SORP 2019 IFRS 1021; Make judgements and estimates that are reasonable and prudent- State whether applicable UK Accounting 5tsndards hove been followed. subject to any material departures disc105ed and explained in the financial statements: Prepare the financial statements on the 80ing concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the tharitable company and hence for taking reasonable steps for the preVentn and detection of fraud and other irregularities. 12
NEWCASTLE DIOCESAN EDUCATION BOARD The direttors are responsible for the maintenart¢e and integrity of the charitable companyand financial information included on the charitable company's website. Legislation in the United Kingdon governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. STATEMENT OF DISCLOSURE TO THE AUDITORS So far as the directors ¥re aware- al there is no relevant audit infonnation of which the charitable cornpanvs auditor is unaware. and bl the directors have taken all Steps that they ought to have taken to make themsefves aware of any relevant audit information and to establish that the auditor is aware of that information. APPOINTMENT OF AUDITORS The auditor is deemed to be reappointed under section 487121 of the companies Art 2006 until otherwise resolved at a General Meetin8 of the company. 13
NEWCASTLE DIOCESAN EDUCATION BOARD ADMINISTrATIVE DETAIL5 Ex Officio The Acting 8ishop of Newcastle- 8ishop Helen-Ann Hartley (appointed 21" March 20231 The Actin8 Bishop of Newcastle- The Right Reverend Mark Wroe (resigned 28 February 20231 Directors Rerfd Dr Gill Alexander (Chairl Right Rerfd Lee Batson (Vice Chair appointed 21" November 20231 Reverend G R Currv" Reverend P H Pearson Reverend Dennis Handley Ivice Chairl (resigned 28 June 20231 Reverend J McGowan Reverend Rachel Scheffer Iresigned 31" July 20231 Reverend D R Cleugh Mr R Restall Professor Gary Holmes Professor Lesley Twomev Mrs D Robertson (reverted to maiden nèmel •Elected by Diocesan Synod Secretary Mr P Rickeard Senioi Officefs Director of Education- Mr P Rickeard (resigned 31st August 20231 Interim Director Education- Mr5 Gillian Booth (appointed 1° September 20231 Assistant Director of Education- Mrs L Atkin Assistant Dirertor of Education- Ms A Vernon Assistant Director of Education- Mrsj Warner Bursar- Mrs E Bell Re8isteTed off*e: Church House. St John's Terrace. Percy Main, North Shields NE29 6HS Bankers: Barclays Bank PLC Wingrove. 446 Westgate Road. Newcastle upon Tyne NE4 98N Auditors: UNW LLP. Citygate. St James, Boulevard. Newcastle upon Tyne NEI 4JE SolicstOfS: Muckle LLP. Time Central, Gallowgate. Newcastle upon Tyne NEI 48F Investment Advisors- CCLA. Senator House. 85 Queen Victoria Street. London EC4V 4ET Company re8i5tration number (KJ480293 Reglstefed tharfty number 528076 14
NEWCASTLE DIOCESAN EDUCATION BOARD By Order of the Board MrsG Booth Company Secretary Director 26 June 2024 d Lee 8•ts00 Director Chair of Flnar*e and Propertycomminee 26 JunÈ 2024 15
NEWCASTLE DIOCESAN EDUCATION BOARD Independent Auditorfs Report to the mefflljers of Newcastle Diocesan Education 8oard We have audited the financial statements of Newcastle DceSan Education Board (the 'charitable company'l for the year ended 31" December 2023 which comprise the statement of financial activitie5. the balance sheet, statement of cashflows and ihe related note5, including Significant a¢¢ounting policies. The financial reporting framework that has been applied in their preparatiorb is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finonciol Reporting Stondord opplicoble in the UK and Republic of Irelund, (United Kingdom GeneroltyAcceptedAccountin9 Prarticej. In our opinion the financial statements: give a true and fair view of the state of the tharitable company's affèirs as at 31" December 2023 and of its incoming resources and application of resources. including its income and expenditure for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in acwrdance with the requirements of the Companies Act 2(X)6 and the Charities Act 2011. 8asi5 of opinion We conducted our audit in accordance with International Standards on Auditing IUKI I'ISA5 IUKI'I and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial st•tements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in 3c¢ordan¢e with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating to Boing concern In auditing the financial statements, we have concluded ihat the trustees. use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. 8ased on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collettively. may cast significant doubt on the entity's ability to continue as a going oncern for a period of at least twelve months from when the finan¢i•l statements are authorised for issue. Our responsibilities and the responsibilities of the trustee5 With respect to going toncern are described in the relevant sertions of this report. Other information The other information comprises the information included in the trustees annual report, other than the financial statements and our ayditorfs report thereon. The twstees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and. in doing 50. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this give5 rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are required to report that fact. 16
NEWCASTLE DIOCESAN EDUCATION BOARD We have nothing to report in this regard. Oplnlon on other rnatlers prescribed by the Companie5 Art 2(X)6 In our opinion. based on the work undertaken in the course of the audit the information given in the trustees, report for the financial year forwhich the financial statements a prepared is consisterbt with the financial statements.. and the direttOlS' report included within the tru5tees' report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatement5 In the trustee5' report. We have nothing to report in respert of the following matters in relation to whith Companies Act 2(KJ6 require5 US to report to you if. in our opinion.. adequate accounting records have not been kept. or turnS adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees. remunerations specified by law not made.. or we have not received all the information and explanations we require for our audit,. and the trustees were not entitled to prepare the fTrnancial statement5 in Jtcordance with the small companies. regime and take advantage of the small companies, exemptions in preparing the trustees. report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees Iwho are a150 the director5 of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being $3tisfied that they give a true and fair view. and for such internal control as the trustees determTrne is neeessary to Ènable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustee5 either intend to liquidate the charitable company's or to Cease operations, or have no realistic aernatiVe but to do so. 17
NEWCASTLE DIOCESAN EDUCATION BOARD Auditor's responsibililies for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditor's report that in¢ludes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit condurted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individvally or in the aggregate, they could reasonably be expected to influence the e¢onomi¢ decision5 of user5 taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-cornpliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. We identified areas of law and regulations that could reasonab be expected to have a material effect on the financial statements from our general and sector experience and through discussions with the trustees and other management las required by Auditing Standardsl and from inspection of the charitable company's legal correspondence, 3nd we discussed with the trustees and other management the policies and procedures in place regarding compliance with 13ws and regulations. We communicated identified Ièws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit. Firstly. the charitable company is subject to laws and regulations that dirertly affect the financial statements including financial reporting legislation lin¢luding related companies 3rtd charities legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the relate(J financial statement Items. Secondly the charitable company is subject to many other laws and regulations where the consequences of non- compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to hève such an effect,. data protection, safegv3rding and certain aspects of company le81slation, recogni5ing the nature of the charitable ompany'5 activitie5. Auditing Standard5 limit the requtred audit procedures to identify non-compliance with these laws 3nd regulations to enquiry of the trvstees and other manaBement and inspection of regulatory and legal correspondence, if any. Through these procedures. we did not become aware of actual or suspected non- Compliance rnaterial to the financial statements. eecause of the inherent limitations of an audit. there is a risk that we will not detect all 1rgUI3r1tie$, including those leading to a material mi55tatement in the financial statements or non-compliance with reEulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial staternents, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding IfglaritieS occurring due to fraud rather than error. as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our respon5ibilitie5 for the audit of the financial statements is located on the Financial Reporting Council's websrte at= wwA¥.frc.or auditorsres onsibiltties. This description forms part of our auditorfs report 18
NEWCASTLE DIOCESAN EDUCATION BOARD Use ol our rei This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's membersthose matters we are required to state tothem in èn auditor's report ènd for no other purpose. To the fullest extent permttted by law. we do not accepr or assume responsibility to anyone other than the charitable company and the charitable comp3n(s members, as a body. for our audit work. for this report, or for the opinions we have formed. Anne Hallowell BSC FCA DChA Isenior Statutory Auditor) For and on behalf of UNW ILP. Statutory Auditor Chartered Accountants Newcastle upon Tyne Date.. 26 June 2024 19
NEWCASTLE DIOCESAN EDUCATION BOARD STATEMENT OF FINANCIAL AcnviTIES {inc(Yporatir¥ income and expenditure xcouTrtl Year ended 31" December 2023 Unre5tri¢ted Restrirted Totsl Funds As reststed Funds from Donations Othertradingartivities Investments 49.258 170.467 58,070 29, 410 177, 67,7Y 255,540 231,3Cbl 61,Wl m,795 3U221 548,E45 Experditure on Charitable acii¥ities 149J.4441 132.8441 IS23,2) (So5.) Totsl I,444) 148441 15211811 1505,1581 Net IrKomelle4%nthtwel bEhre wNestmeht4afislknws 1246491 4582 43,487 -Net Ilossl Igain5 on investments 174.723 474,723 18),2211 Netincon I lexpenditwel 12%3441 13fi7341 Trnnsfetsbetweenfurrtts NeIMennl inlwmts 1246 143441 136,7341 Totsl funds bMu8lrtforn¥ 295,( 1237,812 1532,813 1569,547 Total fundscaled lon¥ard 144117 I9)1 2.532.813 All operations relate to continuing activities 20
NEWCASTLE DIOCESAN EDUCATION BOARD BALANCE SHEET At 31" December 2023 A5 restated 2022 2023 Flxed assets Tangible fixed assets Investments li 22431 2.330.922 1243A81 2.330,922 Debtors Deposits Cash at bank 13 75JJOO 67A70 246.774 96.787 67.791 97.848 389.fA4 262.426 Credltots: amounts falliry wftNn one year 14 1125.5561 160.535} Net current assets 264.1)88 201.891 Net assets 07,469 2.532.813 The funds ofthe thaiity: Restricted income fvnds Unrestrirted income funds 1425.117 2.237.812 82A52 295.001 general Total funds I769 2.532.813 These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companie5. regime. The notes on paBes 23 to 36 form part of these financial statements. The accounts were approved by the members of the 803rd on 26 June 2024 ar are si8ned on their behalf by= Re¢d Lee Batson Director and Chair of Finafftce and Property Committee Reglstered Company Number 00480293 21
NEWCASTLE DIOCESAN EDUCATI ON BOARD STATEMENT OF CASHFLOWS Year ended 31° December 2023 ststernentol cashflow5 lortheye¥ended 31 Deomber21)23 Netca5h infknwfromoperaliryKliwties 1193,5491 Qsh flowsfrom investingaclTr¥ilies Dividends. interest and rentfrom investments Purthase of investments Pfoceeds from sale of investments 67,754 6L&JI 275,((0 115.CQ2 Netcash prOded byinVestiarflSl1jes 26,3 Change incash andosh equivalents inthe reportingperiod Cash and (ash eqUi¥ents at Ilanu*y 149.C(6 24.291 141,348 Cash andush ewivaentsat31 December 314,644. ._ . 165,639 22
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31" December 2023 NTING POLICIE The financial statements have been prepared under the historical cost convention. with the exception of fixed asset investments which are included at thehr market value at the balance sheet date. The financial statements have been prepared in accordance with the Charities SORP IFRS 102}-Accounting and Reporting by Charities.. Statement of Recommended Pr•rtice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applrcable in the UK and Republic of Ireland IFRS 1021 (effective I" January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. NOEB meets the definition of a public benefit entity under FRS 102. The financial statements a prepared in pounds sterling which is the functional currency of the charity and are rounded to the nearest £1. Going concern Taking into account the leve15 of unrestrirted reserves as at 31" December the directors are satisfied that the NDEB has adequate resource5 to continue to meet all liabilities as theyfall dve forthe foreseeable future anil consequentty these accounts have been prepared on a going concern basis. a) Income All income is included in the Statement of Financial Activities ISOFAI when NDEB 15 legally entitled to them as income or capital respeciivety, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy. il Rent receivable is recognised a5 income of the year in respect of which it is receivable. ill Interest and dividends are recognised as income where receivable. iiil Oonatlons other than grants are recogni5ed when receivable. bl Expenditure Expenditure is included on the accruals basis and has been classified under headings that aggregate all tosts related to the Statement of Financi31 Artivtty category. il Costs of ralsing funds are constrained to costs relating to investment propertie5. il Charitable expenditure relates to expenditure on education and Church of England schools in the Diocese. iiil Support costs consist of central management. administration and governance costs. The amount spent on raising funds and other activities is considered to be immaterial and all support costs are allocated to the purpose of charitable activities. Costs are allocated whefever possible (lirertly to the activity to which they relate, but where such direct allocation ts not Possible. the remainder is allocated on an approximate staff time basis. ivl Pension contributions. NDEB contributes to the Pension Builder Scheme of its employees and this Scheme is part of the Church Workers Pension Fund. It is treated as a defined contribution scheme and the annual contributions payable are charged to the Statement of Financial Activrties. 23
NEWCASTLE DIOCESAN EDUCATION BOARD Note5 to the linancial statements For the year ended 31" December 2023 vl Employee benefrts. Short-term benefits, including holiday pay and other similar non-monetary benefits are recognised a5 an expense in the period in which the employee's entitlement to the benefit accrues. Tangible Ilxed assets afid depreciatlon c) Inveslment properties Board properties which are held for investment purposes and rented out have been included at their fair value, as determined by an annual review carried out by an external surveyor. d} Fixed asset investments Listed investments. which have been classif as fixed asset investments, are measured initially and subsequently at fair v3lue. The st*ement of financial activities includes the net gains and losses arising on revaluation5 and disp05a15 throughout the year."" el Tangible fixed assets All capital expenditure over £5.¢XKI is capitalised and depreciated as folh)ws. Oepreciation is provided in order to-write off the cost Iless"any ultimate disposal proceeds at process ruling'at the time of the asset's acquisrtionl of other fixed assets over their currently expected useful economic lives at the following initial rate:_ Fixture5 and fittings 15-30%perannum straight line basis School buildings are occupied and. in the case of Voluntary Aided schools, improved, extended and repaired by the school governors. The nature of the occupation of these buildinÉs by these exempt and excepted Charities means that NDEB trustees do not have the power to dispose of the buildings until the school ceases its occupation. which in turn would require the approval of the Secretary of State. Anv proceeds of le would be subject to claw.back by the Se¢retary of State of related grant aid provided. The trustees consider the Board's ownership to be in the nature of custodi8n5hip of the asset5 and these are therefore not capitalised in the financial statements. Details of the Voluntary Aided schools can be obtained from the Joint Education Team. fj Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 8) Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturitv of three months or less from the date of acquisition or opening of the deposit or similar account. h) Liabilitie5 and provisior Liabilities Jre recognised where there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlernent can be estimated reliably. Liabilities are recognised at the amount that the company anticipates r( will pay to settle the debt or the amount it has received as adVared payments for the goods or services it must provide. Provisions are measured at the best estlmate ofthe amounts required to settle the obligations. Where the effect of the time value of money is material, the provision is based 24
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financi41 statements For the year ended 31" December 2023 on the PSent value of those amounts. discounted at the pre-tax discount rate that refiects the risk5 specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. l) ' Financial instruments The company only enters into financial instruments transartions that resulr in the recognition of basic debt finantial a55ets and liabilities like trade and other accounts receivable and payable. cash and bank balances and loans to or from related parties. All such instruments are due within'one year. and are measured. initially and subsequently at the transactTron price. At the end of each reporting period debt financial assets are assessed for impairment. and their carrying value reduced i! necessary. Any.impairment charge is recognised in the statement of financial activities. jl Fund balances Fund Balances are split between unrestricted Igeneral and designated). restricted funds. Vnrestrirted funds are NDEB'S corporate funds and are freety available for any purpose within the. charitable objects, at the discretion of NDE8. There are two types of unrestricted funds.. General fund5 which NDEB intends to use for the general purposes of the NDEB and Designated funds set aside out of unrestrirted funds by NDE8 for a purpose specified by the Trustees. No designated funds are held at this time. Restrirted fvnds are income funds subject to conditions imposed by the donor as specific terms of trust, or else by legal measure. Sertion funds Section Order Funds that have arisen from past Section Order Schemes are subject to Uniform Trusts governed by Section 86 11944 Education Act). Section 2 11973 Education Act) and more recentlv Section $5411996 Education Act). These funds have been extracted from the General Reserve and are accounted for under Restricted Funds. The Uniform Trusts provide that the Board may after payment of any expenses in connection with the administration of the particular trust to apply the capital and income'.- lal In or towards the purchase of a site for or the erection. improvement or enlargement of the premises of any relevant school in the area. Ibl For the maintenance of any relevant school in the area. Icl In or towards the purchase of a 51te for or the erection or improvement or enlargement of the premises of a teacher'5 house for use in connection wtth any relevant schoolin the area and Idl For the maintenance of a teacher's house for use in connection with any relevant school in the area 25
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31" December 2023 The 8oard may apply the income as follows'.- lal In or towards the provision of advice guidance and resources includirbg materials in connection with any matter related to the m•nagement of or education piovided at any relevant school in the area Ibl The provision of seThices for carrying out any inspertion of any relevant school in the area by Part l of the Schoolslnspection Act 1996 and Icl To defray the cost of employing or engaging staff in connection with=_ lil The application of income by the relevant tnjst assets for either of the purposes reterred in sub paragr8ph (al and Ibl above or lill The application of capital or income of the levartt trust assets for any of the purpose5 referred to in paragraph l above." The accounts tnclude future section order funds under permanent endowment nds. Once an order has been approved the funds are then transferred in accordance with the Order. The accounts also include a Special Purposes Fund which include5 variou5 fund5 derived from educational endowments which can be used to fund special projects under the terms of the relevant Trusts as applicable. kl Estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectations of fvture events that a believed to be reasonable under the circumstances. In preparing these financial statements the trustees do not consider there We any significant areas of judgement that were required in applying the company's policies as set out atrx)ve. E5timJtes within these financial statements include dèprèciation. None of the estimates made in the preparation of these financial statements are Considered to carry significant estimation uncertainty, nor to bear SiEnificant risk of causing material adjustment to the carrying amounts of a55ets and liabilities within the nexi financial year. 26
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial Statements For the year ended 31" December 2023 Totsl Funds 2023 Fund5 Funds l)onatThS DBFGrant 5eryts agreement repts Olhergrants reI4d 4161 8J61 4LQ)7 41JJ97 19.152 29.152 29J52 78/410 Unrestr Restfftted TotalFund5 Fund5 2022 OBF Grant 39.528 39.528 32.369 195.318 255,540 Totsl Fund5 Fund5 17.249 142,918 17.249 142,911 DMAT IncomÈ 170.467 177.057 UNertricted Totsl Fund5 1&223 16.223 25.895 153.559 35.627 fErencefee5 thcome DMAT IrKome 35.627 1fj223 231.304 27
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the finan¢ial Statements For the year ended 31 December 2023 Investment income Unrestricted Funds Restrirted Fund5 Totsl Fffids 2023 Bank interest receivable Income from UK listed investments 58,070 070 070 67,754 Investment•n(ome Unrestritted Funds Restricted Fund5 Total Funds 2022 Bank interest receivable income from UK listed investments 267 6,6S7 6.924 55,144 6,657 61,1 S Costs of charitable'activities byfundty Unrestslrted Funds Restricted Funds Totsl Funds Supportfor church schools &aodemies support costs 4.444 5U288 Costs ol chaitable Ktivitie5 by fundtype Unrestricted Funds Restricted Funds Total Funds 2022 support for thurch schoo15 & academies Supportcosts 102,239 498.295 26,140 26,l¢KI 422,196 102,239 524,435 28
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the finantial rtatements For the year ended 31" December 2023 6 Costs of tharitable activities by arti¥itytype AttltieS undertaken dirtIV Support costs Total Funds Support forchurth schools Govemance.. Audit fees Legal ènd professional fees 444,148 58,193 8,496 S341 12,451 451 Costs of Charl1e aLti¥ities byadiitytytype Acrivilies. vndertaken dIrtIv Support costs Total Funds 2022 Support for church sth001s Govemance.. Auditfee5 Legal and professional fees 472.837 17, ,175 8,17S 6,181 6,181 479.018 26.140 Supporteosts campri5eof Rent 5.651 51542 8.496 Auditf 2022 Rent Cffice costs Audit fee5 8.175 24140 29
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31" Decembef 2023 Net loytyoin8ifin(ominB resources fof the year 2023 2022 Auditors. remuneration.. 8.496 8.17S 8 Efflphyee det* Total 5tafl costs were astollm.. 2023 2022 Wage5 and 5alJries Social seClty coms Other pension costs Z29SOZ 27518 31.460 223,846 26.446 30,163 288A80 280.455 The totil nurnberof stalf ernployedduriTrx 2023 wis 1312022.. 101 At 31st December 2023 9 staff rÈmained. Stsff cost5 for thelET staff from 1st September 2023 to 31st Cthr2D23 weretraAsfeT¥ed to kn.nt EdurotionTeam LiP. 2023 2022 No Average FtE rtaff memtrms Two employees rec•ved ernoluments of nThyeih3n £60,CW upto31st 2023. Band £60.¢- £70,000 Band £70.OCO- £80POO Band £80,000. £,0c Band £g1.QC(I. £IOO,(x¥) Band £IOO,(KQ- £120,C#XI 2023 2022 Key management per50nnd c(fflprethe Dirertorol Education aNI three asystants. Th•rlotsl remunerati to 31st A4ust 2023 anwnted to £250.91812022.. E348.3451. 30
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31" December 2023 SumNryolfuth4 mmffler B•knnc• at 31 RestylcNd IrKfm• Funds: Section mleS Fund Speii31 Purposes Fund EdUtnal Giants l.&J83 . 32fi407 13J42 9.684 1292221 659) 39.152 174.723 1053248 33Z.997 38J172 13.6221 IZJ7W2 45A26 132WI 174.723 1425.117 Ge11 Futhls 295.IXII 277.795 I4.441 82352 Totsl Fw 2531813 323221 15232881 174.713 1507A69 Blanat1 InrNiing (*oir¥ Gainsar Jan )IZZ resour(es rvAuT(ts losses Transfe Balan èt31 Dec2022 Reslri(ted In(ome Funds: Sertion Monie5Fund Speoal Purposes Fund Edurational Granfs ICnL359 319,TJ) I6.1 44.076 167,1511 1gJ,2211 6.657 31W 135.(¥ L898,063 326.407 ,342 .1 2 IW2391 IN2JI 1237,812 Unreslrirted InwrneFunds: General Fund5 Managemeni of Change Fund 231377 46&y3 l¢WJi9191 295,001 Totsl Funds l569.547 5¥645 IS} lal,2211 2,532,813 10. Dirertor5 remuner•lion and e enses No remuneration has been paid to any director in their capacity as a director during 2023 £121.5012022.. £nill. 31
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financlal statements For the year ended 31 December 2023 11 Tangible assets Fixtures & Fittings Total At cost At ljanuary and 31 Oecember2023 2,868 2,868 Accumulated depreciation At l January and 31 December 2023 Net bookvalue at 31 Defflber 2023 Alv£ 12 Investments Invèstment CCLA Pmperty investr*nts Total Within the United Kin8dom At ljanuary 2023 Additions Disposals Revaluation 2,130,922 2,330.922 2W 21x1 1262.4641 1262.4641 174,723 174,723 At 31 December2023 21M1,¢1 1043,381 1243,381 Historical cost at 31 December 2023 1,166,549 1,191,549 Joint ventu During the prior year. the company established a joint venture limited liability partnership with Newcastle Diocesan Education Board INDEB). The new entity.Joint EducationTeam LLP. cornmend trading on 1st September 2023. As restated 2022 1023 Duè T•ithin on• year other debtors 21.787 21.787 Oue •fter on• y Spittal nursery 75.(M)) 75.000 75,000 75.0 75A 96.787 32
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31° Decernber 2023 14 Creditors 2023 2022 Amounts falllng due wlthln one ye¥ Trade Creditors Taxation and social security Other Creditors Actruals io,Ic 15,478 26,W 8,059 14,100 83,152 28,304 S,$56 60,535 15. Pensti)ns For eligible salaried employees NDEB now participates in the Church ol England Pension Builder kheme IPBSI, within the Church Workers Pension Fund. This is treated as a defined contributions scheme. The scheme is administered by the Church of England Pensions 803rd. Pension Builder Classic provides pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on tem)s set and reviewed by the Church of England Pensions Board from time to time. 8onuses may also be dedared. depending upon the investment returns and other factors. The assets of the P8S are held separately from those of the employer. A valuation of the scheme is carried out once every three years. The most recent scheme valuation was carried out as at 31, December 2019. This revealed a deficit of £14.2m. There is no requirement for deficit payments at the current time. NDEB is unable to identify its share of the underlying assets and liabilities as each employer is exposed to actuarial risks associated with the Current and former employee5 of other entities participating in PBS. For schemes like this. paragraph 28.13 of the Financial Reporting Standard 102 IFR5102} iequired NDE8 to account for pension costs on the basis of contributions actually payable to the Scheme in the year. NDEB contributes 15% of basic salary into the Scheme for 6 senior members of staff. an¢J IO% for remaining staff. NDEB has provided pension Contributions durin8 the year for 11 members of staff on the payroll. NDEB is only liable for contributTrons relating to its own staff. ènd not for any other members of the scheme. All members of staff ère jointly employed by NDe6 artd DDBF ond some work less than full-time hours. During the year to 31" December 2023, NOE8 made contributions of £62,920 of which £31,460 is recoverable from DD8F12022: £60,325 of which £30,162 was recoverable from DDBFI. The net total of these two figures has been taken as the pension cost shown in these a¢counts. No contributions were outstanding at the year end. 33
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the finala1 statement5 For the year ended 31" December 2023 16 Cash Ilow reconciliation Recon•liatlon of net m*>vements in fynds to net cash flow from operatin8 artivilies 2022 Net movemèns in funds forthe yewended 31 December Adjustments tor. Dividends. Inte$t and rent from investments Revaluation of unvestments Decreasel lincreasel in debtors Increase/ Idecreasel in ueditors {2S.3441 136,7341 167,7541 1187.2591 21.787 65.021 I61,1) 80.221 15.0991 20.901 Net cash used In operatlngactivltles 1193.5491 12.5121 Analysis of cash and cash equSvalents Cash in hand Dep051ts {less than 3 months) 246.774 67.870 97.848 67.791 314.644 165.639 34
NEWCASTLE DIOCESAN EOUCATION BOARD Notes to the financial statements For the year ended 31" December 2023 17 Analysis of netassets betsfftn funds Filted assets Netcurrenl InStMents assets Totsl 2023 Restrirted In(ome Funds: Section Monies Fund Speaal Purposes Fund Educational grants L710,384 332,937 341864 2,153,248 332.997 38.872 38,872 1013,381 381736 1425.117 Unrestricted Inwme Funds: General Funds 2CD.Cth 1117,&181 81352 1243.381 264,LTh8 1507J69 Ftsed assets Net cwrent As restated In¥e3trnents •ss•ts Total 2022 R•strfct•d Incom• F. Sectron M¢mies Furtd Specral Purposes Fund Educational erants I515 326.4107 93.548 Im,C63 326.407 13342 13.342 2.130,922 i(b.8W 2.237A12 General FuThts 2.( 95.1 295.] 2.330.922 20191 2.532.813 General Fund The General fund represents those assets held by NDE8 for carrying out sts general activities. Special Purposes Fund This fund can be used to fund special projetts. Sertlon Monies Fund This fund holds monies under the Education Acts mainly in the fom of shares and property. Investment income is transferred as r*eded to support any def1t on the General fund. Edu¢ational Grants Fund Grants paid to NDEB to be used to support Religious Education in schools. 35
NEWCASTLE DIOCESAN EDUCATION BOARD Notes to the financial statements For the year ended 31 December 2023 18. Custodian funds S¢hool balan5 Dutharn 5thools Newcastle Sthools 2022 Opening balance foryear . Receipts Payments 389.117 8C6.701 270,578 846,110 14%.7541 11.183.487) 1191818 L234,286 Ill688 2.145,745 IL63124¥ 12,184,213) a051 bal foryear 469.324 674.265 1,195,818 DfE grants and Contributions from sch(yols received in this year totalled £1.116.668 Expenditure during the same period totalled £1,63¥,24"Oleaving an overall b.alance of"£674,265 held on bèh.alf of Voluntary A'i¢Jed schools. lanos heldforothe 2022 Opening balan foryear Investment revaluation 174,939 14,937 234145 1246511 2.474 2LflJS aosin¢ balaNe foryear 17,4U 21L099 209,494 19. Related transa¢tions Three directors of NDE8 were also directors of Newcastle Diocesan Board of Finance IND8FI during the year. Nine staff were employed jointly by NDEB and Durham Diocesan Board of Finance IDD8FI during 2023. The following are deemed to be the transactions in the year between NDEB and the related parties referred to above- al NDEB received payroll serwces from NOBF. During the year, grants reteived amounted to £nil12022.' £NILI Paymènts for services provided to NDBF amounted to £18.41612022.. £19.8601. bl NDEB recovered staffing costs and some operating costs for the joint working with DDBF for the year to 31" August 2023. The amount receivable from DD8F during 2023 was £291,68412022.. £252.3101. There was a year-end creditor for money owed totalling £30,47612022.. £5,585). 20. Prlor ar restatement During 2023, an error was noted relating to income received in 2023 that related to 2022. Consequently, an adjustment has been made to recognise £19.277 of income in 2022. This adjustment increased Accrued income and the opening reserves by the same amount. 36