Ofsted is the Queen's body of inspection for schools. They make decisions about putting failing British schools into Special Measures, and decide the fate of those schools.
They are designed to make sure that State schools are doing the job correctly.
"Lionel, the Ofsted report came out today, and it really doesn't look good"
A word that orginates from Birmingham, England. It is an affectionate term for someone who is dishevelled or scruffy, and seems to most often be used for younger boys.