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← Manchester Diocesan Board Of Education

2024-12-31-accounts

MANCHESTER DIOCESAN BOARD OF EDUCATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Company No. 00618201 Registered Charity No. 530002

CONTENTS

Pages
Organisation and Administration details 1
Mission Statement and Vision 2
Legal Objects 3
Trustees’ Report 3-23
Independent Auditor’s Report 24-26
Statement of Financial Activities 27
Statement of Financial Position 28
Cash Flow Statement 29
Notes to the Financial Statements 30-45

ORGANISATION AND ADMINISTRATION DETAILS

CHAIRMAN The Right Reverend M Davies
SECRETARY Deborah Smith
BISHOP OF MANCHESTER BISHOP OF MANCHESTERThe Right Reverend David Walker
DIRECTORS The Directors are the members of the Board of Education
Details of Board members are given on page 14
REGISTERED OFFICE St John's House, 155-163 The Rock, Bury BL9 0ND
Telephone: 0161 828 1400 Telephone: 0161 828 1400
Email: ManchesterDBE@manchester.anglican.org
PRINCIPAL OFFICER Deborah Smith (Director of Education)
BANKERS Royal Bank of Scotland pl
St Ann Street
Manchester
M60 2SS
AUDITORS HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
SOLICITORS D M Myers LLB (Hons)
Diocesan Registry
St John House
155-163 The Rock
Bury
BL9 0ND
INVESTMENT ADVISORS CCLA Investment Management Ltd
One Angel Lane
London
EC4R 3AB
CONSTITUTION CONSTITUTIONManchester Diocesan Board of Education
is a Company Limited by Guarantee is a Company Limited by Guarantee
Registered in England Number 00618201
Registered Charity Number 530002

The Charity is bound by its Memorandum and Articles of Association and by the statutory duties of the Diocesan Boards of Education Measure 1991, as amended by the Education and Inspections Act 2006 and the Manchester Diocesan Board of Education Order 2011.

1

MISSION STATEMENT

1. Principal Activity

The principal activity of the Manchester Diocesan Board of Education (“MDBE”) is to fulfil its statutory duties to:

promote education in the Diocese of Manchester which is consistent with the faith and practice of the Church of England;

The MDBE advises on the appointment of senior leaders in church schools; it arranges statutory inspections of the Christian distinctiveness of church schools; and it considers giving consent to church schools that wish apply for Academy Orders.

The MDBE is also responsible for the promotion and development of Christian education in parishes, and Christian chaplaincy in institutions of Higher Education.

2. Aims

The aim of the MDBE is to fulfil its statutory duties within the resources available.

The MDBE is a very significant part of the mission of the church in the Diocese of Manchester. The principal aim of the MDBE’s work is ‘To enable children and young people to encounter the Christian gospel and to grow in faith, through providing for their Christian education and nurture in schools, parishes and other settings’.

The MDBE provides the expertise for the whole Diocese to draw on in relation to:

2

LEGAL OBJECTS

The legal objects of the company as set out in the Memorandum and Articles of Association are as follows:

1. To be the Diocesan Board of Education for the Diocese of Manchester as at present constituted or as hereafter it may be constituted, and to exercise and perform within that Diocese the rights, functions, powers, duties and obligations given to or imposed upon a Diocesan Board of Education by the Diocesan Boards of Education Measure 1991, as amended by the Education and Inspections Act 2006 and the Manchester Diocesan Board of Education Order 2011, or any Measure passed by the General Synod of the Church of England or Act of Parliament amending or replacing the same or for the purposes of any Measure passed by the said Synod or Act of Parliament for which the Diocesan Conference may appoint the Board to act.

2. To act as Trustees in respect of any land stocks shares funds and securities held in trust for or belonging to any educational foundations or any other charitable foundations having objects which may be similar to or within the scope of the objects of the Board and to do such acts and things as may be necessary or expedient to be done in relation thereto under or by virtue of any scheme or schemes or Trust Deed or Trust Deeds affecting the same.

TRUSTEES’ REPORT

Vision and Strategy

The vision of the Diocese of Manchester is to be a worshipping, growing and transforming Christian presence at the heart of every community. Church schools are central to this vision as they seek to be places where Christian values and practices are at the centre of all that happens there. The Manchester Diocesan Board of Education (MDBE) fully supports this vision through its work with Church schools, across the diverse landscape of Greater Manchester and Rossendale.

The vision has three fundamental principles; growing, nurturing and serving, as we strive every day in our local ministry to be a Church for a Different World. MDBE works in partnership with 193 CE schools and diocesan churches to enact and support these principles.

3

TRUSTEES’ REPORT (continued)

Growing: MDBE grows and cultivates healthy relationships with staff and governors across the family of church schools. We encourage good leadership through providing training and advice in areas such as mental health and wellbeing, admissions, Head Teacher recruitment and development as well as effective management of school buildings.

Nurturing: MDBE strives to nurture its relationships with schools, just as we believe, God nurtures His relationships with His children. We support schools in the journeys they have with each of their children, from early years through to sixth form; walking alongside schools during transition points, academic experiences and community events. We work across churches and schools to establish reciprocally beneficial relationships. We communicate with school leaders, staff, governors and clergy teams, uniting us as we work together to lift up the children and young people in schools and churches.

Serving: MDBE seeks to serve schools with love, kindness and action, enacting the commandment to ‘Love the Lord your God with all your heart and with all your soul and with all your mind, and love your neighbour as yourself.’ (Luke 10:27). We work in communion with people, children and families from all faiths and backgrounds, celebrating the diverse landscape of our great city and region and the communities that come together within it. We help to maintain the Christian distinctiveness of Church of England schools through the facilitation of training and resourcing in the areas of vision and values, Religious Education, Collective Worship and the requirements of SIAMS.

MDBE’s overarching vision is for Church of England schools to be places where all involved in can be introduced and supported to reflect on Jesus’ promise in John 10:10 that He ‘came so that you might have life in all its’ fullness.’

Priorities for 2024 and Progress

1. Develop ministry to/for/with children and young people in both churches and schools.

Ensuring that:

4

Priorities for 2024 and Progress (Continued)

Progress

The Director continued to work with the Diocesan Secretary to redraft the Diocesan strategy, to ensure the commitment to ‘Growing Younger’ disciples is central to it. The work of the Youth Officer, Children’s Officer, ManDio Growing Faith (MDGF) enablers and Children Changing Places (CCPP) team continued to promote discipleship opportunities in schools and churches for children and young people. 275 early years children, 139 primary aged children and 225 secondary aged children were part of a discipleship pathways during 2024.

The second successful bid for CCPP resulted in further recruitment and an expansion of the work and opportunities. A new focus on working with families supported a strategic focus on supporting churches with their ministry. 169 children and adults continued to participate on a family discipleship pathway. Parish engagement was viewed as a priority of the new phase of CCPP with 15 churches engaging in a sustained and significant way with the project and at least 136 young people engaging with youth or worship activities. Opportunities to work with a number of community schools were emerging as a result of the reviewed focus.

Man Dio Growing Faith continued to grow with almost a full team recruited during 2023-24. New discipleship pathways were established, in partnership with the local church such as ‘Tuesdays Together’ at St Thomas Church, Delph or Arty Annies in St Anne’s school with plans to develop into a monthly family worshipping community. 143 adults and children were attending fresh expressions of church with 57 pupils on discipleship pathways in school.

Training for youth and children’s ministry teams/members took place in the form of EQUIP and ALM training during the year. Both were very positively received with 25 attending a weekend training residential. The General Lay Training programme included 3 youth ALMs and 4 children ALMs. Momentum continued to build with over 100 children and youth workers attending subsequent Equip training events in Autumn 2024.

This year’s Clergy Ministry Day focused on ‘Growing Younger’ with input from both the national and local diocesan teams. A transition resource, named Beyond, was produced and launched for churches and schools to support children in year 6 as they moved onto secondary school. 58 primary schools across Manchester diocese were involved in delivering this transition resource. Eight fully booked year 6 leavers’ services, attended by 5000+ children took place from 17-20 June 2024 in Manchester Cathedral.

We saw the concept of Youth Sacred Spaces as a space for young people to explore their faith and respond also gain momentum. Already established intentionally Christian youth work in churches falls within this definition. The Diocesan Youth Officer supported the establishment of 3 new Youth Sacred Spaces alongside members of the MDGF team. A positive start was made with enthusiastic groups of leaders and young people. Further Youth Sacred Spaces within Manchester South and Stretford,

5

Progress (Continued)

Salford and Leigh and Rochdale deaneries are at various stages within the planning and construction process with at least 26 Youth Sacred Spaces already in existence across the diocese. Students from Canon Slade High School were involved as young leaders during the successful recent Scargill camp. The DBE team continued to be involved in curates training, with the possibility of expanding this in 2025. Curates also completed Suicide First Aid training led by the Youth Officer. Church based youth services, e.g. YTC (Youth Church Thing) continued to be held within various churches, providing opportunities for young people to serve and lead.

The Spirit Blazers group was established in Bolton with children from 4 schools, initially focusing on gathering children’s views on worship. They presented their research findings to members of MDBF and MDBE, as well as Bolton Deanery synod. Interestingly children did not distinguish between collective and corporate worship, recognizing both support their spiritual development. They also led an art project which was presented at Bolton Wanderers FC in July focusing on identity.

Wiggle Worship opportunities continued to grow across the diocese. Schools and churches continued to engage with a highlight being sessions run throughout August at Manchester Cathedral. Education, CCPP and MDGF staff supported various events such as Easter Experience and summer holiday clubs held within churches across the diocese.

Impact: There is evidence of churches, across the traditions, being keen to reinvest or establish children and youth provision that is distinctly Christian. Specific numbers, progress and impact are reported to the Growing Younger, Strategic Programme and DBE boards. Several clergy used the ‘Beyond’ transition resource to support their work with local schools. The number of schools and pupils attending the year 6 leavers’ services was the highest we had ever had. Team members had attended and contributed to the termly Deanery Hub meetings across the diocese, arranged by MDGF enablers. The focus had been on Intergenerational Worship, Engaging with Schools and Starting New Things. Attendance had been promising at these hub meetings, with clergy and lay attending.

2. Develop the distinctive Christian character of CE schools across the diocese.

Ensuring that:

6

Priorities for 2024 and Progress (Continued)

Progress: The new Manchester Diocese RE syllabus was launched to Voluntary Aided (VA) schools and academies. A wide variety of training courses have been delivered with over 85% of schools attending more than one training session. Feedback on sessions has been received through virtual evaluations. The average feedback score was 4.9 out of 5 reflecting the relevance and quality of the training provided. Bespoke support for schools expecting SIAMS was provided. Pre-SIAMS visits were carried out, including a focus on RE in school for VA schools in particular. Schools were supported to ensure Collective Worship aligned with and reflected the school’s vision and values, in accordance with its Trust deed. Collective Worship training had been delivered several times by members of the DBE team with over 200 attendees in the 23/34 academic year. It is now known as ‘Collective Worship: The sell Out Tour’ due to how quickly available places are filled once a new date is released. An Introduction to Church School Education course was successfully delivered for staff new to CE schools. Within SIAMS reports schools were recognised for having a distinctly Christian vision and it being at the center of school life. Video Continuous Professional Development (CPD) sessions were produced for all SIAMS Inspection questions to support school awareness of the new 2023 SIAMS framework. These videos have removed the logistical barriers to accessing training. Collectively, the video training sessions for SIAMS have had almost 1500 views. They were also being used in leadership and staff meetings, therefore the exact figures of those engaging with this resource were significantly higher.

New Head Teachers were invited to take part in an induction programme focusing on specific CE school distinctiveness as well as developing themselves as spiritual leaders. 22 new Diocesan Foundation Governors were appointed and a further 25 re-appointed. Work with schools on developing a theologically Christian vision and values had continued through training and individual visits. Collective Worship resources supporting schools in celebrating the Christian festivals were produced with Easter, Pentecost and Harvest resources distributed so far. The school Chaplaincy network remained strong and a valuable source of support and resource, led by the Chaplain at Trinity High School.

Impact: SIAMS reports from 2024 noted children’s awareness of a range of religions, including Christianity and other worldviews. This was encouraging as the previous syllabus had limited exploration of faiths other than Christianity. Schools connected with DBE officers before, during and after SIAMS reports. Attendance at CPD sessions remained consistently high with excellent feedback received. 100% of schools inspected during 2024 had been judged to ‘be living up to their Christian Foundation’ (J1). Spirituality, or a common understanding of this, in schools frequently appeared as an area for development in SIAMS reports. SIAMS reports testified to the value schools placed on collective worship. Several new Head Teachers had been promoted from being a deputy head teacher in a CE school elsewhere in the diocese. This is particularly encouraging.

7

Priorities for 2024 and Progress (Continued)

3. Develop governance across maintained and academy schools within the diocese.

Ensuring that:

Progress: Through the appointment of a Leadership Adviser who has represented the DBE on the majority of Head Teacher recruitment panels a consistent approach to advice and guidance was applied with DBE representation on all Head Teacher recruitment panels that took place. Participants successfully completed the Christian Leadership course with numbers for 2024-25 course already recruited to. All new Head Teachers received a visit from the DDE, were invited to a new Head Teacher Commissioning service as well as an induction programme. Training for new Head Teachers in VA schools regarding support for buildings and the school estate was delivered. MDBE became a delivery partner for the suite of standard National Professional Qualifications (NPQs) for CE Education Office. We successfully recruited to our allocated numbers and took part in the Ofsted inspection, resulting in an outstanding judgement being awarded. Understanding Christianity training was delivered to various schools, helping to support the development of Biblical literacy of staff and pupils.

Impact: the majority of Head Teacher recruitment processes that took place successfully recruited a substantive Head Teacher with a number recruiting current deputies from within MDBE schools. The Christian Leadership course continued to be popular. Recruitment to NPQs was across the school estate and included staff from CE, RC and community schools. Previously, when run by CE MATs within the diocese, it tended to be more limited to staff from those MATs who enrolled.

4. Develop governance across maintained and academy schools within the diocese.

Ensuring that:

Progress: Through the appointment of a Leadership Adviser who has represented the DBE on the majority of Head Teacher recruitment panels a consistent approach to advice and guidance was applied with DBE representation on all Head Teacher recruitment panels that took place. Participants

8

Progress (Continued)

successfully completed the Christian Leadership course with numbers for 2024-25 course already recruited to. All new Head Teachers received a visit from the DDE, were invited to a new Head Teacher Commissioning service as well as an induction programme. Training for new Head Teachers in VA schools regarding support for buildings and the school estate was delivered. MDBE became a delivery partner for the suite of standard National Professional Qualifications (NPQs) for CE Education Office. We successfully recruited to our allocated numbers and took part in the Ofsted inspection, resulting in an outstanding judgement being awarded. Understanding Christianity training was delivered to various schools, helping to support the development of Biblical literacy of staff and pupils. Termly meetings with the archdeacons highlighted ex Officio vacancies with substitutes agreed as appropriate. Regular updating of governor details continues. Advice regarding reconstitution was offered with 5 schools’ Instruments of Government being amended. Several Diocesan School Advisers (DSA) were deployed as Associate Members to support schools where governance would benefit from further development or support. Schools remain committed to a covenantal relationship with MDBE demonstrated through the Service Level Agreement continuing at over 95% buy in throughout 2023-24. The Diocesan Director of Education now represents the Corporate Member, so has direct influence, on 75% of CE academy trusts within MDBE. DSA representatives were involved in a recently established Independent Executive Board (IEB) to support a school where there was an ineffective governing board. Training on governor responsibilities for admissions continued.

Impact: We saw a reduction of Ex Officio governor vacancies as substitutes were appointed by the archdeacons. Attendance by Chairs of Governors at termly Head Teacher and Chair of Governor meetings continued. Positive relationships between schools and DBE continued. Where a member, the DDE is regularly informed of the progress of Trusts, involved in the appointment of new trustees and attends the AGM.

5. Develop racial justice strategy for Diocesan Board of Education

Ensuring that:

Progress: DBE racial justice strategy was agreed in November 2023. Reflecting on the actions for boards of education within ‘Lament to Action’ it was clear that most of the actions were outside of the DBE’s sphere of influence and authority. Alongside this limited capacity within MDBE was also limited progress. As such the Shades lead was commissioned to work outside of Bolton deanery for ten days to deliver aspects of the racial justice strategy. Training focusing on racial justice and faith was

9

Progress (Continued)

developed and delivered by the Shades lead for clergy and school staff across the diocese. Thirtyfour schools, involving 83 delegates had accessed this training to date. Feedback included such statements as ‘This was an amazing session and so thought provoking. I will take away a deeper understanding of what anti-racism really means.’ ‘This training is groundbreaking and needs to be shared far and wide.’ Through the work of Spirit Blazers children have considered issues around identity and acceptance. The Leaders Like Us programme, run by CEEO, was advertised across diocesan schools with various Head Teachers volunteering to act as mentors for participants.

Although a consistent approach to Head Teacher recruitment had been established through the Leadership Development Adviser supporting the majority of these recruitment processes we did not have any applicants from Global Majority Heritage apply for the posts advertised.

Impact: Through the Shades programme pupils continued to work on issues around faith and racial justice. We saw growth in the number of Shades groups being established within schools. Several CE secondary schools took up the offer of a free training session, although this was not as widespread as we would have liked. With the recent recruitment of an additional Shades worker we were confident impact will continue to increase.

6. Develop a net zero carbon strategy for the school estate

Ensuring that:

Progress: We continued to promote the use of green materials within School Condition Award (SCA) works. Green grants were provided for schools in support of projects that would develop carbon neutral work. Two applications for Salix funding were submitted. The Capital Buildings Officer continued to attend relevant national meetings to keep abreast of developments in national strategy towards net zero carbon reduction. There was DBE representation at the Diocesan net zero carbon network. The Planet Savers award, recognizing eco focused work in schools continued to be led by children who set the criteria, assessed submissions and made the awards.

Impact: Net Zero carbon and other eco projects remained an issue that concerned many children and young people. For MDBE our impact was predominantly via the management of the school estate. Schools delivered various building projects and initiatives towards net zero carbon. The prospect of a new ‘green’ school at St Thomas, Leigh in the not-too-distant future was an exciting development. The initial bid to Salix was unsuccessful, although recently £350K has been awarded to further explore

10

Progress (Continued)

opportunities for further Salix funding for the school estate.

Other Activities

School improvement

MDBE officers continued to meet with local authorities to identify and plan intervention/support in schools as appropriate. Forty-three SIAMs inspections took place between January – December 2024. All schools inspected were deemed to be ‘living up to its foundation as a church school.’

Between January to December 2024 forty-nine Ofsted inspections took place. Thirty were section 5 with the remainder being section 8. Eight schools received Outstanding, thirty-three schools were awarded Good with eight schools receiving a Requires Improvement judgement.

Self-employed Diocesan Schools Advisors were commissioned, on a sessional basis, to support school leadership and management as appropriate to need.

School buildings

The BOE continued to support the management of the school estate following the principles of the DfE Good Estate management for Schools (https://www.gov.uk/guidance/good-estate-management-forschools/the-fundamentals-of-good-estate-management). In the Manchester Diocese the school estate equates to 70+ Voluntary Aided schools and 100+ Voluntary Controlled, Foundation or Academies. During 2023-2024 the Capital Building’s Officer managed the School Condition Allowance (SCA) bidding process of the BOE. Work towards applying the Board’s Environmental policy was actioned and the majority of our schools now possess a heat decarbonisation plan. The BOE faced issues with RAAC in school buildings however all schools containing RAAC have had mitigation works with 4 schools receiving the news of full school rebuilds.

2024 SCA Programme of works

In liaison with our School Building Consultants, over 60 bids were assessed with 41 projects being approved. These are listed below in summary form at an overall cost of just over £3.5m. Several of the bids not approved as part of the SCA programme were approved with use of DFC. The vast majority of the approved projects are made up of condition work and the list is based on the Board’s priorities of ensuring schools remain safe, dry and warm.

11

2023-24 SCA Programme of works continued

~~a~~ ~~(~~
Project Code
~~a~~		 School
~~(~~		 Works Agreed
Project Code
M0055
~~a ~~		 ST MATTHEWS LITTLE
LEVER
~~(~~		 Works Agreed
CLADDING REPLACEMENT
M0070 ST PETERS
FARNWORTH		 ROOFING WORKS
M0010 ALL SAINTS
FARNWORTH		 BOILER REPLACEMENT WORKS
M0105
~~Ce~~		 WALMSLEY PARISH
~~Ce~~		 DDA WORKS AND ACCESSIBILITIES
~~Ce~~
M0070 ST PETERS
FARNWORTH		 LED LIGHTING REPLACEMENT
M0150
~~Ge~~		 ST MARYS PRESTWICH
~~Ge~~		 KITCHEN WATER BOILER UPGRADE
~~Ge~~
M0120
~~Ge~~
~~fe~~		 EMMANUEL HOLCOMBE
~~Ge~~
~~fe~~		 KITCHEN DAMP AND WATER INGRESS
~~Ge~~
~~fe~~
M0145
~~eG~~		 ST MARYS HAWKSHAW
~~eG~~		 FIRE ALARM UPGRADE
~~eG~~
M0205
~~Ce~~		 ST MARYS MOSTON
~~Ce~~		 BOILER REPLACEMENT WORKS
~~G~~
M0225
~~Ce~~		 SCHOOL OF THE
RESURRECTION
~~Ce~~		 ESSENTIAL RE ROOFING WORKS
~~G~~
M0210
~~eG~~		 ST PHILIPS HULME
~~eG~~		 PHASE 1 HEATING REPLACEMENT
~~eG~~
M0195 ST ANDREWS
LEVENSHULME		 REPLACEMENT LED LIGHTING
M0242
~~Ge~~		 HOLY CROSS
~~Ge~~		 ROOFING PHASE 2
~~Ge~~
M0310
~~Ge~~		 ST MATTHEWS
CHADDERTON
~~Ge~~		 KS1 ASSEMBLY HALL PITCHED ROOF
~~Ge~~
M0330
~~Ce~~		 ST THOMAS MOORSIDE
~~Ce~~		 REPLACEMENT ROOF EYFS
~~Ce~~
M0235
~~Ce~~		 CHRIST CHURCH
CHADDERTON
~~Ce~~		 PROVISION OF STAFF WC AND SITE
MANAGERS OFFICE
~~Ce~~
M0325 ST THOMAS LEESFIELD NEW EYFS WC, KITCHEN AND SEN
PROVISION
M0255 ST AGNES KNOLLS
LANE		 RE-ROOFING FLAT ROOF AREAS
M0295 ST MARTINS FITTON
HILL		 HALL FLOOR
M0295 ST MARTINS FITTON
HILL		 ROOFING WORKS PHASE 2
M0290 ST MARGARETS
HOLLINWOOD		 SAFEGUARDING
M0350 ALL SAINTS HAMER PHASE 2 HEATING DISTRIBUTION
REPLACEMENT
M0375 ST MICHAELS
ALKRINGTON		 ROOF MAINTENANCE WORKS
M0365
~~Ce~~		 MILNROW PARISH
~~Ce~~		 FLAT ROOF REPLACEMENT WORKS
~~Ce~~
M0405
~~Ce~~		 ST PAULS CROMPTON
STREET
~~Ce~~		 ROOF REPLACEMENT PHASE 2
~~Ce~~
M0415
~~Ce~~		 ST PHILIPS SALFORD
~~Ce~~		 ACCESIBLE RAMP AND INTERNAL FINISHES
~~Ce~~
M0400
~~Ce~~		 ST MARKS WORSLEY
~~Ce~~		 ASBESTOS REMOVAL AND FLAT ROOF
WORKS
~~Ce~~
M0425 ST THOMAS HEATON
CHAPEL		 ACCESSIBLE WC AND TOILET
REFURBISHMENT
M0440
~~ee~~		 HOLY TRINITY AUL
~~ee~~		 BOUNDARY WALL REPAIRS
~~ee~~
M0460 ST STEPHENS
AUDENSHAW		 CCTV ACCESS CONTROL FIRE ALARM
M0430
~~De~~		 CANON BURROWS
~~De~~		 KITCHEN FABRIC REPAIRS
~~De~~

12

2023-24 SCA Programme of works continued

School Code School Works Agreed
M0475 ST MICHAELS FLIXTON Works Agreed
BOILER REPLACEMENT
M0470 ST MARYS
DAVEYHULME		 BOILER REPLACEMENT
M0485 LEIGH S MARYS EXTENSION TO FORM NEW KS1 NURTURE
ROOM
M0522 LEIGH ST PETERS REPLACEMENT CIELINGS AND DRAINAGE
M0510 ST MICHAELS
HOWEBRIDGE		 REPLACEMENT SECURITY RAILINGS TO
BOUNDARY
M0175 ST ANNES EDGESIDE BOILER REPLACEMENT
M0120 EMMANUEL HOLCOMBE RADON GAS WORKS
M0460 ST STEPHENS
AUDENSHAW		 MODULAR BUIDLING CLADDING REPAIR
M0325 ST THOMAS LEESFIELD EMERGENCY BOILER WORKS
m0270 ST JAMES EAST
CROMPTON		 EMERGENCY BOILER WORKS

During 2024 following the resignation of the project lead for ManDio Growing Faith, the management structure was amended so that one of the Assistant Directors has taken on operational lead. By the end of 2024 a full team of deanery enablers had been appointed.

Financial responsibilities

Public benefit

The trustees confirm that they have complied with the duty under section 4 of the Charities Act 2006 to have due regard to the public benefit guidance issued by the Charity Commission. The charity is constituted in accordance with the Diocesan Boards of Education Measure 2021, it is a body corporate and a Director of Education is appointed as its secretary.

The MDBE’s statutory functions are to:

13

Financial Responsibilities (continued)

Reserves Policy

The reserves held by the MDBE are mostly restricted, held for the provision of support for schools, using the income generated for staffing and running costs, and capital and other grants. They have arisen primarily from the proceeds of former school sites, interest and investment gains thereon and their use is therefore restricted under S554 of the Education Act 1996. In addition, the MDBE has generated other sources of income from its activities, which are unrestricted. These have been used to support the work of the MDBE.

The Statement of Financial Activities (SOFA) for the year shows net income of £101,885 (2023: net resources expended of £92,063) before net gains and losses on the revaluation of investments. The level of restricted reserves at the year-end was £6,780,457 (2023 - £6,596,660) and of unrestricted reserves was £775,400 (2023 – £714,952). The MDBE has a policy to maintain at least three months’ revenue commitment as a working reserve. At the year-end unrestricted reserves were £775,400, which equates to just under twelve-months expenditure. The Trustees are consequently satisfied that an appropriate level of unrestricted reserves are held. The company holds fixed asset investment within restricted funds. The unlisted investments provide investment income. As these are restricted funds, these are not included within the general unrestricted funds.

The Financial Statement illustrated a surplus (before Investment gains) of £101,885. There has been an unrealised gain on Investments of £142,360 making the company’s overall position a net surplus of £244,245. The total Reserves on 31 December 2024 now stand at £7.556m (2023: 7.312m).

14

Financial Responsibilities (continued)

Going Concern

We have made an assessment of the Charity’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements were approved for release.

Having performed our assessment we were able to conclude that the Charity is able to continue to operate as a going concern and that it is appropriate to prepare the financial statements on a going concern basis.

In making our assessment we did not consider there to be any material uncertainty relating to events or conditions that individually or collectively may cast significant doubt on the Charity’s ability to continue as a going concern.

Investment policy

In accordance with the Memorandum and Articles of Association, the Trustees have the power to invest funds not immediately required in such investment securities or property as may be thought fit by them. The MDBE holds long term surplus funds, which are invested in a broadly based ethical investment fund, and this is currently through the DBF Investment Fund, managed by CCLA. The bid value of these investments increased by 2.29% (2023: increased by 9.4%) Dividends receivable amounted to £173,424 (2023: £170,012) – a yield of 2.73% (2023: 2.99%).

Taxation

The MDBE is a Registered Charity (No. 530002) and as such is not liable to UK Corporation Tax on its charitable activities.

The Trustees have prepared this report in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Structure and Governance

Member Recruitment, Induction and Training

  1. The MDBE is governed by the Diocesan Boards of Education Measure 1991 and subsequent 2021 Measure, as amended by the Education and Inspections Act 2006 and the Manchester Diocesan Board of Education Order 2011.

15

Structure and Governance (continued)

  1. Members of the Board are appointed or elected within the terms of the Manchester Board of Education Order 2011, i.e. either by (a) the Diocesan Bishop or (b) the Diocesan Synod for Archdeaconry members or (c) the MDBE itself, using the relevant power of co-option. Elections are held each Synod triennial period.

  2. The roles and responsibilities of Trustees are described and explained at the first meeting of a new board in a specific induction programme. In addition, further training of Trustees is arranged in relation to education policy development.

  3. Members who serve on specific sub-committees and working parties are given training and briefing in these areas e.g. the short-life Investment Sub-Committee, but many are already expert in these fields and selected for this reason.

  4. The MDBE itself is responsible for policy decisions and statutory functions in relation to Church of England schools, and monitoring and evaluation of its policies and purposes.The Director of Education published the statutory Annual Review and Report to Diocesan Synod in October 2024.

  5. The membership of the MDBE during the period from 1 January 2024 to date of this report is as follows:

Chair: Rt Revd M Davies, Bishop of Middleton

Ex Officio: Rt Revd D S Walker, Bishop of Manchester

Company Secretary: Deborah Smith

Appointed by Bishop

The Rt Revd M Davies

Ms Hilary Henderson

Co-opted Members

Mrs Karen Sudworth

Mr Gareth Ellswood

Mr Eliot Costa-Walker

Mrs Razia Shar – Resigned 17[th] December 2024

Manchester Archdeaconry

Clergy: Rev’d George Reeves – Resigned 17[th] December 2024 Rev’d Paul Hutchins – Appointed 17[th] December 2024

Lay: Canon Dr Addy Lazz-Onyenobi

16

Structure and Governance (continued)

Bolton Archdeaconry:

Clergy: Revd Adele McKie

Lay: Mr L Yarwood – Resigned 17[th] December 2024

Canon Jill Pilling – Appointed 17[th] December 2024

Rochdale Archdeaconry:

Clergy: Revd Jennifer Beaumont – Resigned 19[th] October 2024

Revd Kirsty Screeton – Appointed 12[th] November 2024

Lay: Mr Richard Lait – Resigned 12[th] November 2024

Ms Kathryn Hampson – Appointed 12[th] November 2024

Salford Archdeaconry:

Clergy: Revd Karen Owen

Lay: Mr Tim Delves – Resigned 12[th] November 2024

Mr Iain Hodcroft – Appointed 12[th] November 2024

The following Terms of Reference are agreed for the sub-committees of the Board:

Finance and General Purposes

Membership to include Chair/vice chair of BOE, 2 BOE members and 2 co-opted members Meetings will be 3 times per year

To scrutinise the financial management of the board through:

To support human resource management through:

To support estate management through:

17

Structure and Governance (continued)

Schools Committee

Membership to include Chair of DBE, 2 BOE members and 2 co-opted members Meetings will be 3 times per year

To promote church schools and receive advice on:

The MDBE holds an Academies Committee to consider applications from CE schools for consent to apply for an Academy Order (Academy Act 2010 S 3 iv) or consent to amend the Articles of Association of an existing academy.

Academy Committee

Quorum of 3 members to include Chair/Vice Chair of BOE. Other 2 members will be either members of the BOE or Schools Committee

Meetings will be 3 times a year directly following BOE meetings. Further meetings will be arranged as necessary

To consider and resolve matters relating to:

18

Structure and Governance (continued)

Related Parties

Manchester Diocesan Board of Finance is a Charitable Company limited by guarantee, situated at St John’s House, 155-163 The Rock, Bury BL9 0ND. The charity is connected to MDBE by virtue of the fact that the Manchester Diocesan Synod has the power to appoint the majority of the Committee of Management, constituting the Board of Directors for each charity.

The policies and activities of MDBE, within the framework of the Diocesan Boards of Education Measure 1991, as amended by the Education and Inspections Act 2006 and the Manchester Diocesan Board of Education Order 2011, reflect and contribute to the vision and mission of Manchester Diocese which is to be a worshipping, growing and transforming Christian presence at the heart of every community.

MDBE is a shareholder in the trading company, DBE Services Ltd, situated at DBE Services,

Clayton House, Walker Industrial Estate, Walker Road, Guide, Blackburn, BB1 2QE.

MDBE’s accommodation is provided by Manchester Diocesan Board of Finance, for which a rent is levied for use of building and services.

Higher Education

The work of the MDBE in relation to higher education is performed by chaplains based at the Universities OF Salford and Bolton. The chaplains also contribute to the BOE’s annual report to Synod.

Custodian trusteeship

MDBE holds, as Custodian Trustee, for a number of Parochial and school funds, investments and bank deposits with an aggregate market value of £6,079,455 (2023 - £6,812,525) which are not included in the Statement of Financial Position. This includes monies from the Department for Education, which are held in individual accounts for schools for their building works. These investments are held on behalf of schools and parishes whose charitable purposes are similar to those of the MDBE. These assets are held securely and separately from those of the MDBE that is responsible for their safe custody.

19

Structure and Governance (continued)

Charity Governance Code

The Charity Governance Code was published to help charities and their trustees develop high standards of governance. The code sets out seven principles and recommended practice. Below are the seven principles with an explanation of how MDBE operates against these principles:

Organisational purpose

The organisational purpose of MDBE is clearly defined in statute and policy decisions made over time. It has identified clear aims under such duties and policies and measures outcomes against those aims. It has a strategic plan and works from a balanced budget with a consistent history of providing a secure financial platform for its operations.

Leadership

The Board provides effective strategic leadership in order to fulfil the purpose of the company and meet its objectives. Its remuneration policy is determined by the employer of officer, the MDBF.

.

Integrity

The Board acts with the integrity expected of the charity. Conflicts of interest are declared annually and before each meeting, and gifts and hospitality are recorded.

Decision-making, risk and control

Decisions of the Board are clearly articulated in papers and minutes, and counted votes where necessary. The Board receives a termly risk register and mitigation and control of risks are monitored. Board papers and minutes report movement in the risk register.

The Board does not have an Audit Committee, but it does have a Finance and General Purposes Committee which is separately chaired and meets in tandem with the Board.

Board membership combines representative interests with an appropriate skill mix at both Governing Body and sub-Committee levels.

20

Structure and Governance (continued)

Board effectiveness

The Board membership combines experience, new and renewed membership. It was ‘modernised’ through the Manchester DBE Order in August 2011 when membership numbers were reduced from a potential 32 to 12. Sub-committee structures are slim and terms of reference are clear. Meetings are scheduled for the triennium with clear rules about the timing of distribution of papers and minutes. The Board accesses legal, financial and HR services, and financial colleagues form the DBF report to, and attend, relevant meetings.

Diversity

The Board includes members who are from different ethnic and gender backgrounds. Reasonable expenses are paid on an equitable basis to all who attend.

Openness and accountability

The Directors’ Report includes a statement of public benefit. Its Minutes are scrutinised by the Bishop’s Council. Remuneration details of senior employees are detailed within Note 16 of the ‘Notes to the Accounts’.

Principle Risks and Uncertainties

The Trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the MDBE and are satisfied that systems are in place to mitigate exposure to the major risks. A risk register has been a standard agenda item at all MDBE meetings since 2008, with the main ones detailed below:

21

Structure and Governance (continued)

Key Management Personnel

Key management personnel are deemed to be those having authority and responsibility, delegated to them by the Trustees, for planning, directing and controlling the activities of the MDBE All staff are employed by the MDBF and staff costs recharged to MDBE. The MDBF Staffing Committee acts on behalf of the Trustees on employment practice and development of human resources. The Committee reviews salaries in the MDBF and MDBE, and approves recommendations for salaries in relation to new posts or regrading of posts. The MDBF has a grading structure with 8 pay bands, within each pay band there are 3 increment points. Posts are allocated a grade with increments or a spot grade; some posts span two grades. The MDBF tracks market rates and occasionally takes part in national benchmarking data collection with other Diocese.

Trustee Responsibility for Financial Management

The Trustees are responsible for preparing the Annual Report including the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

22

Structure and Governance (continued)

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the Trustees. The Trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

Disclosure of Information to the Auditors

So far as the Trustees are aware:

In preparing the Trustees’ Report, advantage has been taken of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by the Board on and signed on its behalf by

MARK DAVIES Director

Date: 24[th] June 2025

23

Independent Auditor’s Report to members of MANCHESTER DIOCESAN BOARD OF EDUCATION

Opinion on the financial statements

We have audited the financial statements of The Manchester Diocesan Board of Education for the year ended 31 December 2024 which comprise the Consolidated and Company Statements of Financial Activities, Consolidated and Company Statement of Financial Positions, Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions related to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

24

Other Companies Act 2006 reporting

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable 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 group’s and the parent 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 trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to safeguarding vulnerable beneficiaries, health and safety, and employment (including taxation), and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, Church of England Measures and VAT law.

25

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to fund accounting, including transfers between funds, and revenue recognition. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at : www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

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 members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Halsey (Senior Statutory Auditor) For and on behalf of HaysMac LLP, statutory auditor 10 Queen Street Place, London, EC4R 1AG

Date: 4 September 2025

Hays Mac LLP is a limited liability partnership registered in England and Wales (with registered number OC423459).

26

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure account) For the year ended 31 December 2024

==> picture [492 x 506] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|Funds|Funds| |2024|2024|2024|2023| |Note|£|£|£|£| |INCOME AND ENDOWMENTS| |FROM| |Donations and Legacies|2|25,233|140,000|165,233|237,714| |Income from Charitable Activities 3|319,026|319,026|282,329| |Other Trading Activities|4|-|41,000|41,000|41,000| |Income from Investments|5|-|278,386|278,386|223,625| |───────|───────|─────── ───────| |TOTAL|INCOME|AND| |344,259|459,386|803,645|784,668| |ENDOWMENTS| |───────|───────|─────── ───────| |EXPENDITURE ON| |Charitable Activities|6|283,811|417,949|701,760|692,605| |───────|───────|─────── ───────| |TOTAL EXPENDITURE|283,811|417,949|701,760|692,605| |───────|───────|─────── ───────| |NET INCOME/(EXPENDITURE)| |BEFORE|NET|GAINS|ON|60,448|41,437|101,885|92,063| |INVESTMENTS| |───────|───────|─────── ───────| |Net gain/(loss) on investments|8|- 142,360|142,360|539,119| |───────|───────|─────── ───────| |NET INCOME|60,448|183,797|244,245|631,182| |NET MOVEMENT IN FUNDS|60,448|183,797|244,245|631,182| |Balance brought forward| |13|714,952|6,596,660|7,311,612|6,680,430| |1 January| |───────|───────|─────── ───────| |Balance carried forward| |13|775,400|6,780,457|7,555,857|7,311,612| |31 December| |═══════|═══════|═══════ ═══════|

----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended are derived from continuing activities.

The notes on pages 30 to 45 form part of these financial statements.

27

STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION
As At 31 December 2024
2024 2024 2023 2023
Note £ £ £ £
NON-CURRENT ASSETS
Tangible Assets 7 1 1 1
Investments 8 6,362,109 6,219,749
─────── ───────
6,362,110 6,219,750
─────── ───────
CURRENT ASSETS
Debtors 9 207,819 176,586
Cash at Bank and in hand 1,315,972 1,224,613
Closed School Bank Deposits Closed School Bank Deposits
10		 1,047,958 1,032,981
Proceeds from sale 243,856 -
of Kestor Street
────── ───────
2,815,605 2,434,180
CURRENT LIABILITIES
Amounts falling due
within one year		 11 (1,621,858) (1,342,318)
─────── ───────
NET CURRENT ASSETS 1,193,747 1,091,862
─────── ───────
TOTAL ASSETS LESS
CURRENT LIABILITIES		 7,555,857 7,311,612

──────		 ───────
12&13 7,555,857 7,311,612
══════ ═══════
CAPITAL AND
ACCUMULATED FUNDS
Unrestricted funds 775,400 714,952
Restricted funds 6,780,457 6,596,660
────── ──────
12&13 7,555,857 7,311,612
══════ ══════

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The notes on pages 30 to 45 form part of these financial statements.

Approved by the Board and signed on its behalf on 24[th] June 2025 by:

MARK DAVIES DEBORAH SMITH

Bishop of Middleton – Chairman Diocesan Director of Education and Company Secretary

28

CASH FLOW STATEMENT
For the year ended 31 December 2024
2024 2023
£ £
Net Income for the reporting period (as per the
statement of financial activities) 101,885 92,063
Dividends, interest from investments (278,386) (223,625)
Decrease / (Increase) in debtors (31,233) (5,007)
Increase / (Decrease) in creditors 279,541 (91,578)
Net cash (used in) operating activities 71,807 (228,147)
Cash flows from investing activities:
Dividends and interest from investments 278,386 223,625
Proceeds from sale of investments - -
Net cash provided by investing activities 278,386 223,625
350,193 (4,522)
Cash flows from financing activities: - -
Net cash provided by financing activities - -
Change in cash and cash equivalents in the reporting
period 350,193 (4,522)
Cash and cash equivalents at the beginning of the
reporting period 2,257,594 2,262,116
Cash and cash equivalents at the end of the reporting
period **2,607,787 ** **2,257,594 **

Cash and cash equivalents includes both Cash at bank and in hand and Closed school bank deposits. See accounting policy 1(e) for an explanation of the closed school bank deposits.

The notes on pages 30 to 45 form part of these financial statements.

29

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

1. ACCOUNTING POLICIES

(a) Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102 2[nd] edition), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

(b) Incoming resources

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income, other than interest arising from the sale proceeds of closed school sites, is included in incoming resources when receivable. Interest that is earned on the sale proceeds of closed school sites is recognised when the relevant sales proceeds are determined. Details of the sales proceeds and accumulated interest on sites awaiting determination are given in note 10 to the accounts.

(c) Resources expended

Resources expended include all expenditure directly related to the objects of the charity (in accordance with SORP 2019) inclusive of any VAT, which cannot be recovered. Grants to schools are considered on the facts of each individual case dependent on the availability of funds at the time. Costs arising from the organisation and running of the charity rather than its charitable objects are shown as governance costs.

(d) Uncapitalised Non-Current Assets

School sites and buildings for the 191 Diocesan schools are included on the Statement of Financial Position at an aggregate nominal value of £1. Additions by the Manchester Diocesan Board of Education to the existing school sites and buildings are written off in the income and expenditure account in the year in which they are incurred. The Manchester Diocesan Board of Education hold the majority of sites only as Trustees for continuing education in the appropriate parish and the Board does not have an absolute title. Sale proceeds will only arise in the event of the Secretary of State for Education agreeing to the closure of a school. The accounting policy in relation to closed school sites is as stated below. In view of the above, it is considered prudent not to include valuations for existing school sites as Non-current assets of this Board.

(e) Closed school sites

Sales proceeds of closed school sites and buildings attributable to the Manchester Diocesan Board of Education (once the correct legal destination of the proceeds has been resolved) are shown in the Statement of Financial Activities on page 28. Until such time as the Board has received the appropriate statutory approvals, proceeds are included in the Statement of Financial Position as a liability (note 10). Only a portion of the sales proceeds will accrue to the Manchester Diocesan Board of Education in due course and it is not possible to predict the value of such proceeds.

30

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

(f) Staff pensions

The Board of Education previously contributed to the Church of England Defined Benefits Scheme (DBS) for staff that is administered through the Manchester Diocesan Board of Finance. The scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme, which are attributable to the Board. Therefore, in accordance with FRS 102, payments to the scheme are accounted for as for defined contribution schemes and the Board accounts for pension costs based on contributions payable to the scheme in the year. Details of the scheme are given in note 18 to the accounts. The contributions due for the year are disclosed in note 15.

(g) Investments

Investments are shown at their bid value on the date of the Statement of Financial Position. Investments held by the Board as custodian trustee are not included in these accounts (see note 19).

(h) Agency arrangements (Maintenance Scheme Accounts Receivable and Payable)

The charity acts as agent in the collection of grants from government, local authorities and other funds, and payment of approved invoices for school building projects on behalf of certain Church of England schools in the diocese. This income and expenditure is excluded from the income and expenditure of the charity and any balances due from or held on behalf of schools are shown within Accounts Receivable and Payable.

(i) Fund accounting

Funds held by the company are either:

Restricted funds - Funds which may only be used for specific purposes imposed by the settler, donor or legislation.

Unrestricted funds - Funds which may be used for general purposes without any external restriction.

31

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

Trade and other Receivable are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Payables and provisions are recognised where the company 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 or estimated reliably. Payables and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

32

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

COMPANY INCOMING RESOURCES – COMPRISING NOTES 2 – 5

2024 2024 2024
Unrestricted Restricted Total
F Funds Funds Funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 25,233 140,000 165,233
Income from charitable activities 3 319,026 - 319,026
Other trading activities 4 - 41,000 41,000
Income from investments 5 - 278,386 278,386
TOTAL 344,259 459,386 803,645
─────── ─────── ───────
2023 2023 2023
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 97,714 140,000 237,714
Income from charitable activities 3 282,329 - 282,329
Other trading activities 4 - 41,000 41,000
Income from investments 5 - 223,625 223,625
─────── ─────── ───────
TOTAL 380,043 404,625 784,668
─────── ─────── ───────

2. DONATIONS AND LEGACIES

Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Manchester Diocese Synod
Funding		 - 140,000 140,000 140,000
DBE Services Ltd 25,233 25,233 97,714
TOTAL 25,233 140,000 165,233 237,714

33

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Unrestricted Restricted Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
RE and other training income 307,568 - 307,568 274,468
Grants received - - - 1,000
Other income 11,458 - 11,458 6,861
───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ───── ─────
TOTAL 319,026 - 319,026 282,329
4. OTHER TRADING ACTIVITIES
Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Rents received - 41,000 41,000 41,000
═══════ ═══════ ═══════ ═════ ═══════ ═══════ ═══════ ═════ ═══════ ═══════ ═══════ ═════ ═══════ ═══════ ═══════ ═════

5. INVESTMENT INCOME

Unrestricted Restricted Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Income from investments
Unquoted - 173,424 173,424 170,012
Stelfox Trust Income - 25,547 25,547 25,045
Realised Gain on Investments - - - -
Interest receivable
Bank and CBF interest - 79,415 79,415 28,568
────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ─────
TOTAL - 278,386 278,386278,386 223,625
══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════

34

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

COMPANY EXPENDITURE – COMPRISING NOTE 6

==> picture [441 x 282] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted Restricted Total| |Funds Funds Funds| |2024 2024 2024| |£ £ £| |EXPENDITURE ON| |Charitable Activities|283,811|417,949|701,760| |───────|─────── ───────| |TOTAL|283,811|417,949|701,760| |───────|─────── ───────| |Unrestricted Restricted Total| |Funds Funds Funds| |2023 2023 2023| |£ £ £| |EXPENDITURE ON| |Charitable Activities|283,326|409,279|692,605| |─────── ───────|───────| |TOTAL|283,326|409,279|692,605| |─────── ───────|───────|

----- End of picture text -----

35

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

6. CHARITABLE EXPENDITURE

Unrestricted Restricted Unrestricted Restricted Unrestricted Restricted Total Total
2024 2024 2024 2024 2024 2023
£ £ £ £
(a) Grants(note 17)
Building grants to schools - - - -
────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ─────
TOTAL - -
────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ─────
Unrestricted Restricted Total Total
2024 2024 2024 2024 2023
£ £ £ £ £
(b) Other expenditure
_i._to provide a service: to provide a service:
Staff salaries, pensions and sub-contractors 169,957 Staff salaries, pensions and sub-contractors 169,957 297,678 467,635 399,872
_ii._for costs: for costs:
Legal and professional services for school
building and sites building and sites 6,852 21,000 27,852 1,515
_iii._Other overheads Other overheads 100,680 93,405 194,085 279,952
_iv._Provision against doubtful debts Provision against doubtful debts - - -
_v._Christian Leadership expenditure Christian Leadership expenditure - - -
vi Audit Fees vi Audit Fees 6,322 5,866 12,188 11,266
────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ─────
283,811 417,949 701,760 283,811 417,949 701,760 283,811 417,949 701,760 283,811 417,949 701,760692,605 692,605
────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ───── ────── ───── ───── ─────
TOTAL 283,811 417,949 701,760 692,605
══════ ══════ ══════ ═════ ══════ ══════ ══════ ═════ ══════ ══════ ══════ ═════ ══════ ══════ ══════ ═════ ══════ ══════ ══════ ═════

36

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 December 2024		 NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 December 2024		 NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 December 2024
Unrestricted Restricted Total
2023 2023 2023
£ £ £
(a) Grants(note 17)
Building grants to schools - - -
────── ───── ───── ────── ───── ───── ────── ───── ───── ────── ───── ─────
TOTAL - - -
────── ───── ───── ────── ───── ───── ────── ───── ───── ────── ───── ─────
Unrestricted Restricted Total
2023 2023 2023 2023
£ £ £ £
(b) Other expenditure
_i._to provide a service:
Staff salaries, pensions and sub-contractors 153,199 Staff salaries, pensions and sub-contractors 153,199 246,673 399,872
_ii._for costs:
Legal and professional services for school
building and sites 893 622 1,515
_iii._Other overheads 122,592 157,360 279,952
_iv._Provision against doubtful debts - - -
_v._Christian Leadership expenditure - - -
vi Audit Fees 6,642 4,624 11,266
────── ───── ───── ────── ───── ───── ────── ───── ───── ────── ───── ─────
283,326 409,279 692,605
────── ───── ───── ────── ───── ───── ────── ───── ───── ────── ───── ───── ────── ───── ─────
TOTAL 283,326 409,279 692,605
══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════ ══════
Support costs
Included within the above expenditure are the following support costs:
2024 2024 2024 2024 2023
£ £ £ £
_i._Staff salaries, pensions and sub-contractors 133,593 124,475 Staff salaries, pensions and sub-contractors 133,593 124,475 Staff salaries, pensions and sub-contractors 133,593 124,475 Staff salaries, pensions and sub-contractors 133,593 124,475
_ii._Legal and professional services for school
building and sites 13,209 7,417 building and sites 13,209 7,417 building and sites 13,209 7,417 building and sites 13,209 7,417 building and sites 13,209 7,417
_iii._Other overheads 66,666 Other overheads 66,666 Other overheads 66,666 Other overheads 66,666 56,241
_v._Christian Leadership expenditure - - Christian Leadership expenditure - - Christian Leadership expenditure - - Christian Leadership expenditure - - Christian Leadership expenditure - -
vi Audit Fees 12,188 11,265 vi Audit Fees 12,188 11,265 vi Audit Fees 12,188 11,265 vi Audit Fees 12,188 11,265 vi Audit Fees 12,188 11,265
────── ───── ────── ───── ────── ───── ────── ─────
TOTAL TOTAL TOTAL 225,656 225,656 199,398
══════ ═════ ══════ ═════ ══════ ═════ ══════ ═════

37

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

7. FREEHOLD AND LONG LEASEHOLD LAND AND BUILDINGS

2024 2023
£ £
School sites and buildings at nominal value 1 1
════════ ══════ ════════ ══════

Note that there were no capital commitments authorised or contracted for at 31 December 2024 (2023: £nil).

8. INVESTMENTS

INVESTMENTS
2024 2023
Number £ Number £
CBF Investment Fund Shares
Shares at bid value brought forward 275,145 6,219,737 275,145 5,680,618
Disposal proceeds -
Unrealised investment gains 142,360 539,119
────── ─────── ───────
Bid value 31 December 6,362,097 6,219,737
────── ─────── ────── ─────── ────── ─────── ────── ───────
───────
Number of shares at 31 December 275,145 275,145
────── ──────
Historical cost at 31 December (888,193) (888,193) Historical cost at 31 December (888,193) (888,193) Historical cost at 31 December (888,193) (888,193) Historical cost at 31 December (888,193) (888,193) Historical cost at 31 December (888,193) (888,193)
─────── ───────
───────		 ───────
Excess of bid value over cost to date 5,473,904 5,331,544 5,473,904 5,331,544 5,473,904 5,331,544 5,473,904 5,331,544
═══════ ═══════ ═══════
Investment in DBE Services Ltd 12 12
─────── ─────── ─────── ─────── ─────── ─────── ─────── ───────
Total 6,362,109 6,219,749
═══════ ═══════ ═══════ ═══════
In 2005 the company purchased twelve ordinary shares of £1 each (a 16.7% shareholding) in In 2005 the company purchased twelve ordinary shares of £1 each (a 16.7% shareholding) in
DBE Services Ltd. DBE Services Ltd was set up to provide services to schools. This company
started to trade on 1 January 2006.
2024 2023
£ £ £
The trading activities were:
Turnover 3,100,897 2,622,339 3,100,897 2,622,339
Cost of Sales, administrative expenses
and interest received (2,008,990) (2,136,381) and interest received (2,008,990) (2,136,381) and interest received (2,008,990) (2,136,381) and interest received (2,008,990) (2,136,381)
──────── ─────── ──────── ─────── ──────── ───────
Surplus 1,091,907 1,091,907 485,958
════════ ═══════ ════════ ═══════ ════════ ═══════
MDBE Share of Surplus (*) 25,233 97,714 MDBE Share of Surplus (*) 25,233 97,714 MDBE Share of Surplus (*) 25,233 97,714 MDBE Share of Surplus (*) 25,233 97,714
════════ ═══════ ════════ ═══════ ════════ ═══════

38

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

The MDBE received fees for work done by its staff for DBE Services Ltd of £nil (2023: £nil).

The shares may not be disposed of or charged except in accordance with the provisions of the Shareholders’ Agreement.

9. CURRENT DEBTORS

CURRENT DEBTORS
2024 2023
£ £ £
School selling expenses recoverable
from future sale proceeds 100,239 100,239
Prepayments and accrued income
falling due within one year 88,245 54,955
Other debtors 19,335 21,392
──────── ────────
TOTAL 207,819 176,586
════════ ════════
CLOSED SCHOOL BANK DEPOSITS
2024 2023
£ £
Closed school account balances pending determination 1,043,638 1,028,722
Closed school account balances – MDBE Asset 4,320 4,259
──────── ────────
TOTAL 1,047,958 1,032,981
═══════ ════════
Reconciliation of closed school balances:-
Capital proceeds 702,649 702,648
Accumulated interest 530,989 516,074
──────── ────────
Total current liabilities (note 11) 1,233,638 1,218,722
Less funds used for increased working capital (190,000) (190,000)
Add closed school account balances – MDBE Asset 4,320 4,259
──────── ────────
TOTAL 1,047,958 1,032,981
════════ ════════

10. CLOSED SCHOOL BANK DEPOSITS

The closed school balances have arisen primarily from the proceeds of former school sites, interest and investment gains thereon and their use is therefore restricted under S554 of the Education Act 1996.

39

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

11. CURRENT LIABILITIES

==> picture [488 x 641] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2024|2023| |£|£| |General creditors and accruals|96,609|78,390| |The Manchester Diocesan Association Church Schools|(1)|(1)| |Closed schools - monies held pending determination - (note 10):| |Capital proceeds|702,649|702,649| |Accumulated interest|530,989|516,073| |Manchester Diocesan Board of Finance|47,131|44,374| |HMRC VAT|625|833| |Proceeds From Sale of Kestor Street|243,856|-| |────────|────────| |TOTAL|1,621,858|1,342,318| |════════|════════| |12. RESERVES| |Incoming|Resources|Gains/| |(Losses) on| |1 Jan 24|resources|expended investments|31 Dec 24| |£|£|£|£|£| |Restricted| |funds| |For Schools|6,596,660|319,386|(277,949)|142,360|6,780,457| |From Synod|-|140,000|(140,000)|-|-| |─────|───────|───────|───────|─────| |6,596,660|459,386|(417,949)|142,360|6,780,457| |Unrestricted| |funds| |General|714,952|344,259|(283,811)|-|775,400| |───────|─────── ──────────|───────|───────| |TOTAL|7,311,612|803,645|(701,760)|142,360|7,555,857| |═══════|════════ ══════════|════════ ════════| |Incoming|Resources|Gains/| |(Losses) on| |1 Jan 23|resources|expended investments|31 Dec 23| |£|£|£|£|£| |Restricted| |funds| |For Schools|6,062,195|264,625|(269,279)|539,119|6,596,660| |From Synod|-|140,000|(140,000)|-|-| |───────|───────|───────|───────|─────| |6,062,195|404,625|(409,279)|539,119|6,596,660| |Unrestricted| |funds| |General|618,235|380,043|(283,326)|-|714,952| |───────|───────|─────────|───────|───────| |TOTAL|6,680,430|784,668|(692,605)|539,119|7,311,612| |════════|════════|════════|══════ ════════|

----- End of picture text -----

40

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

Restricted funds

The restricted funds are held for the provision of support for schools, using the income generated for staffing and running costs, and capital and other grants. They have arisen primarily from the proceeds of former school sites, interest and investment gains thereon and their use is restricted under S554 of the Education Act 1996.

13. ANALYSIS OF 2024 NET ASSETS

Unrestricted Restricted Total
2024 2024 2024
£ £ £
Tangible assets and Investments - 6,362,110 6,362,110
Net current assets 775,400 418,347 1,193,747
Long Term Liabilities - - -
──────── ─────── ────────
TOTAL 775,400 6,780,457 7,555,857
════════ ═══════ ════════
ANALYSIS OF 2023 NET ASSETS
Unrestricted Restricted Total
2023 2023 2023
£ £ £
Tangible assets and Investments - 6,219,750 6,219,750
Net current assets 714,952 376,910 1,091,862
Long Term Liabilities - - -
──────── ─────── ────────
TOTAL 714,952 6,596,660 7,311,612
════════ ═══════ ════════
14.NET INCOMING RESOURCES
2024 2023
This is stated after charging: £ £
Auditors’ remuneration:
External audit 12,120 12,120 11,265
and after crediting:
Rental income 41,000 41,000 41,000
══════ ══════

41

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

15. STAFF COSTS

All employee costs are recharged from the Diocesan Board of Finance (see note 18).

2024 2023 2024 2023
£ £
Salaries 374,057 319,862
Social security costs 39,598 33,588
Pension costs 53,980 46,422
─────── ───────
TOTAL 467,635 399,872
═══════ ═══════
The average weekly number of employees during the year was made up as follows:
Office and General Management employees 10 10
════════ ════════

Note that the Directors of the MDBE receive no remuneration or reimbursed expenses for their services as directors. There was 1 employee with total emoluments above £60,000 in 2024 (2023: 1 employee).

EMPLOYEE DETAILS

Employees receiving remuneration in excess of £60,000 are analysed as follows:

2024 2023
No. No.
£60,000 - £70,000 - -
£70,001 - £80,000 - -
£80,001 - £90,000 - 1
£90,001 - £100,000 1 -
£100,000 - £110,000 - -
2024 2023
£ £
Pension contributions to Pension Builder
defined benefit scheme 15,329 13,595 defined benefit scheme 15,329 13,595 defined benefit scheme 15,329 13,595
═════ ═════

42

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2024

Remuneration of key management personnel

Key management personnel are deemed to be those having authority and responsibility, delegated to them by the trustees, for planning, directing and controlling the activities of the MDBE. During 2024 they were:

Deborah Smith – Director of Education and Company Secretary to the Board Susie Mapledoram – Assistant Director/Youth Work Officer Terry Hart - Assistant Director/RE and Christian Distinctiveness Adviser Louise Morley/ Assistant Director/ Leadership Development Adviser (Effective from 1[st] August 2024)

Remuneration and pensions for these 4 employees (2023: 3 employees) amounted to £292,651 (2023: £199,711).

16. BUILDING GRANTS TO SCHOOLS

==> picture [467 x 186] intentionally omitted <==

----- Start of picture text -----
2024 2024 2023 2023
£ £ £ £
Reconciliation of building grants
payable:
Commitments as at 1 January - -
Commitments made in the year -
Grants reclaimed in the year - -
─────── ───────
Grants payable for the year - -
Grants paid during the year - -
────── ──────
Building grant commitments at 31 - -
December
══════ ═══ ═ ══
----- End of picture text -----

Grants, having been previously approved by the Finance & General-Purpose Committee, are debited to the School Building fund at the time of approval.

There were no grant was awarded in 2024 (2023: Nil). All the grants were credited to schools in the Diocese of Manchester. A full list of individual grants is available on request from the Company Secretary at the Registered Office.

17. RELATED PARTY TRANSACTIONS

Manchester Diocesan Board of Finance

Manchester Diocesan Board of Finance is a Charitable Company limited by guarantee, situated at 155-163 St John’s House, The Rock Bury BL9 0ND. The charity is connected to Manchester Diocesan Board of Education by virtue of the fact that Manchester Diocesan Synod has the power to appoint the majority of the Committee of Management, constituting the Board of Directors, for each charity.

43

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

For the year ended 31 December 2024, the Manchester Board of Finance (“MDBF”) made a budget transfer to the MDBE of £140,000 (2023: £140,000), representing the Synod funding of non-schools work of the Board of Education. Dividend income from the Stelfox Trust of £25,547 (2023: £25,045 was also paid to the MDBE via the MDBF. During the year MDBF incurred costs on behalf of, and subsequently recharged to, the MDBE costs of £585,697 (2023: £519,390) comprising:

2024 2023
£ £
Staff costs 467,635 399,872
Central services 42,000 42,000
Accommodation and support cost 76,062 77,518
Total 585,697 519,390

DBE Services

MDBE owns 16.7% of the ordinary share capital of DBE Services Ltd, an entity which commenced trading on 1 January 2006. The company undertakes support work across six northern dioceses. During the year Manchester Diocesan Board of Education received donations totalling £25,233 (2023: £97,714). The Right Reverend Mark Davies served as a Director at DBE Services Limited during 2024.

Trustees

No Trustees (2024: Nil) were reimbursed for travel expenses during the year. During the year, there was £nil paid to Trustees for advice to School Governing Bodies and in relation to projects (2023: £nil).

18. PENSIONS

As the staff are employed by the Manchester Diocesan Board of Finance and recharged to the Manchester Diocesan Board of Education, any pension surplus / deficit is included within the MDBF financial statements.

19. CUSTODIAN HOLDINGS

Manchester Diocesan Board of Education holds, as Custodian Trustee, for a number of Parochial and school funds, investments and bank deposits with an aggregate bid value of £6,079,455 (2023 - £6,812,525), which are not included in the Statement of Financial Position. This includes monies from the Department for Education, which are held in individual accounts for schools for their building works. These investments are held on behalf of schools and parishes whose charitable purposes are similar to those of the MDBE. These assets are held securely and separately from those of the MDBE, which is responsible for their safe custody.

44

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

20. SCHOOL BUILDING & IT PROJECTS

The Manchester Diocesan Board of Education assists diocesan voluntary aided schools with the administration of funding for school building projects and the provision of IT equipment. The MDBE acts as the agent of school governing bodies in receiving funding from the Department for Education, local authorities and other funding sources and settling and matching it with the contractors' costs and professional fees. This activity of the MDBE is not reflected in the Statement of Financial Activities as the transactions are those of the school governing bodies rather than the MDBE. Total expenditure on school building projects and IT equipment during the year was £6,754,254 (2023: 5,184,250).

45