REGISTRATION NUMBER 5472420 (ENGLAND AND WALES) CHARITY REGISTRATION NUMBER 1110286 NEW HALL SCHOOL TRUST ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS 31 JULY 2021 NEW HALL SCHOOL TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Conlents Pag R8f8renca and Administrative Delalls Trust¢89' ReFK)rt stmtegis Report Independent Auditorfs Report 14 Consdida18d Statem8nt of Financigl Activit￿$ 17 Consolidated 8tKI Paront Charity 8alarKe Sheets 18 Consolldated Cashfiow Stalwnenl 19 Principal Accnunting Polla88 21 Notes to th8 Fin8llual Statemènts 25 NEW HALL SCHOOL TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2021 GOVERNORS. DIRECTORS AND CHARITY TRUSTEE5 The Governors ol New Hall Schod ale the charity trustees under the charity law and the di¥ectors of Ihg chaiilablè company, for th6 purposes ol company law. The membgrs ol th& Governing 8ody who served in oifi¢s as Governors during the year 8t￿ subsequently are detsiled beknw. 121 131 141 (51 Dr M Ed6lsten Ichairl J Ajdridge D Buxton Appointed 3 D￿rn￿r 2020 J Croom MDay K Jeffrgy. IPrfnci)al) J Peake (Vice Chairl Y Sutton Apptitnted 3 De￿rnber 2020 R Talbul *** A Mfilllams PMWISO P R Wil8on 111 Education & Staffing Committee 121 Finance & General Purwses 131 Nominations Committ 14) Remuneration Committee I" except with respect to Princlpal's Remuneration- Deputy Prindpal's Remuneration) 15) Bursaries and Schdarships Comtnitt88 Parent of student at the School *** 8xceptwlth respèct to the During the year the activili8s of Ihe Govemlrbg Bo¥Jy wore carr￿d out through fNe c(wmittgès, Tha membershlp ol these committees is shown above for eaoh Governor. Pag8 1 NEW HALL SCHOOL TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2021 Principal addre$$ N8w Hall School The Avenue oreham Chelmsford E888x CM3 3HS Audltor RSM UK Audit LLP Blenheim House Newm8rk8t Road ury Sl Edmunds Suffolk IP33 3SB Bankers National Westsninsl&r Bank plc 4-5 Hiqh Streot Chelmsford Essex CM118L Soli¢ilor8 Birketls LLP providen￿ House 141-145 Pr*ncès Street Ipswich Suffolk IP1 1QJ Web8Eto svww.newhalls¢hwl.¢o.uk Pag8 2 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 Thg Tru81ees presEnt their slatutory report together with the consolidated financlal siatements of Ngw Hall School Trust I'NHST'I and its $L￿sIdiane$, New Hall School Ent8rprises Limited f'NHSE'I, a geneial trading company, and Nèw Hall Mulli Academy Trust I'NHMAfi. an exempl charity, which operatès Messng Primary School as an academy. forthe y88r ended 31 July 2021. This ￿pOrt has b88n prepared in accordan￿ wlh the Cotnpanies Act 2006 and constibjtes a director8. report fo¥ the purposes ol company16gislation. The ftnanual statements hava been prepared in aC¢ordan￿ wilh the accounting polid8s set out on page8 2110 24 of the attached financial 51alements and Gomply with the Chaiitiès Act 20fj1, the G(xnpan￿S Act 2006, the Memorandum a(Kl Articles ofAsso¢ialion. and the Charities Statement ol Recomtn8nded Practi￿ I'charities SORP'I (applicable to char&lies preparing tIEiraccounts in accord8nc8 With the FinancAal Reporting Standard applicable in the UK#nd Rep￿I￿OI1reIand', FRS 1021 i3sugd in October 2019. TRUSTEES. REPORT CONSTifuTIONAWD OBJECTS New Hall School was founded in 1642 by the Religlous Community known as The Regular Canonesses of the Order of the Holy Sopulchre of Our Lord in Jerusa￿￿,. In 1799, the School moved to Its present site of K￿g Hanry Vlll's former palao ol Beaulieu. In 2005, a new charity was forffled to (x>ntinue the worf( of the School. New Hall School TIu5t was Incorporat￿ as a oompany limited by guarantee on 6 June 2005 (Company Registration No. 5472420 {England and W8les11. On l JUEY 2005, NHST w38 r8gisteied wtl) tlie Charity Cotnfflissitsn IChar4ty Regislraliott No. 1110?a61. On 1 August 2005, the activitie5 and net assets of The Charity of the Regular Canone5ses of the Order of the Holy sepulch￿ ol Ovr Lord in Jerusalem confieded witlTr the op8ration of an independent %hool w8r8 trafisfetred to this new charitable company. Th8 bulldings, ground$ and faalities necessary forth8 ftjnctionlng ol Ihe school thus lorffl the assets ol HHST. Sd)ool is govern8d by Its Memorandum ofA8s￿l8tion 8nd Arb"¢les olAssocialion last amended on 5 Dec£M￿r2017. The School aims.. to glve students an experi8nc8 of Itf8 In * Christian community.. affirming each indivldual as a uniquè part ol God s cre3tion, and nurtudng in e8ch person a $ena6 ol dlgnlty and self-wrirth fostering cariw Wlationsh￿s. a sense of tearn splrit, 8nd respect for others to inspire skndents to develop their G(Kl-gNen gifts and taknts to their full polentlal.. ntèllectual spirftual social and emotional aesthetic and physical to pr(Trvide a bioad and balan￿d education, rooted in (he School's C8tholiG foundation, which is responswe to and supportive of the need5 and aspir2tions of th6 individual.. loste¥ing inlalle¢lual cuiiosty, a desire to 38ek truth, and a life-long lov8 of leaming enabling students to discover th81r own strengths and weaknesses. to learn from 'failur8s', and to develop th8 self4iscipline and determination lo persevere. orderto pursue th•lrgoals in a rapidly changing world to enable staff lo be awar6 ol the values and vision of the School and to give thom support and encouragemnt to carry out Ihalr professional duli8s and rèsponsibilities in the puisuit of excellen¢e. wth prid8 and commilment The ts￿e0t ol NHST, as set out in the Memorandum and Articles, 15 to advanc8 th8 Roman Catholic religion by the conduct ol Roman Catholic schools The School 8har88 its teachlng expertise and other resources and facili118s with childran in the local and wsd9r community who do not attend the School, EducatiDnal initiativès includè running NHMAT. through which NHST sponsors a prirnary academy. NHST Is also corninittgd to (wèrate iEs School on th8 N8w Hall campus in Chglm5ford, whiEh is the site ol the magnificent former TLNJor Pala￿ ol BeaEElieu. The main building 18 Grade I listed and the historic avenue ol t￿e$ is aL%o a listed park ond gard8n. The Charity, th9refore, h88 a c(xnmilmenl lo maintain and enharn￿ the heritag8 buildings and setting ol New Hall, not just for th8 Stud8nls but for the widgr cornmunity and publi¢ interest. Hall Is ranked by English H8ritagè In tha top 2% 01 heritag8 buikllws in the country. Page 3 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 Th• ethos of the Charlty At NHST, the ethos is inspired by the founding Religious C(xntnunlty, The ca￿￿eSSeS of the Order of Ihe Holy Sèpulchre., their bglt81s and values remain es88ntial to the character ol the chaiity today. distinctive Catholic 81hos ofthe School ha5 a specAal emphasis on welcome. community, prayer and Servi￿ lo othèrs. The chÉirity, in accotdan(E with Ets objects, founding ethos and aims, s88ks to support sludgnts. and those in the wider community, in their faith development. The tharity also Iiv@s out Christian beliefs and valuesthrough cornmunity work. hospitality and voluntary and tharltable 5etvi to tho88 itt n88d. 88tUng tha objectivgs and planning the %York ofth8 charity forthe year, the Tru8te8s have given carefvl consideraiion to the Charity CortLm5ssion's genwal guidanee on public ben8fit atKI in particular lo ils supplemeniary gu*danc8 on the advanwenl ol r61igion, advanuTrJ educat￿￿ and fee charging. The prinapal work ol the Charity during the year was to own and operate an indep8ndent school lor day and boarding students beiween the ages ol l and 18. ln July 2021, there w8r8 1,329 students, olwhom 231 wore boarders. The dlstinctive 'diamond model, sctK)ol sliucture, established from 2006, is one in which students are educatsd in co- educational classes Iiom 1-11, in singk-sex classes from 11-16, and in ccpeducational classes al Sixth Fotrn. The Sch)ol continues to béli6ve that this mod81 gives the best ol both woild5, wilh the oplimal cofflbination of singl8-sex atKI co- ed￿catIonal teaching atappropriate stages ofsludents, developmenl Th8 Sehool won the overall TES Independent S¢lY)ol of tha Year 2016~17 as well a5 the TES FinancNqllCommeraal (Green Travel & Transport Slrat8gyl InIt￿tiVe of the Year. The School was also in the final shortilsts for Governing Body ol the Year and SeEElor Leadership Toaw ol the Year. Katherine Jeffrey, Prtnupal, was shortlistsd for the TES Headteach8r ol the Year Award in 2015. The Schod was on the national shortiist in 2014, loi the TES Inde￿ndent School Award IISAI for Boarding Initialivg of the Year and fty Best Independent-maintained School Collaboralion lin r8lation to the sponso￿hlp of Me55lng PrMn8ry Schooll. The Sthool won the national Independent Schools Award (ISAI, 2011, foi Outstanding Straleglc IniliatNe. for th8 exc8118nc6 of this development initiative and the Gonsequent suceèssful expansion and itnprovemenl of th8 School. Followillg the OPEning of a Senior School Boys. Division. the School has expanded and now has boys in all yaar groups and overall equal numbers ol girfs and boys. NHST pro￿d￿8 the only C(Itholic ind8p8ndènt school provision foi sellknr school aged boys in th8 0k)cose ol Brentwood. AIMS, OBJECTIVES AND ACTIVITIES Towards the end oflhe academi¢ year 2016-17, the Mission & Ethos St8t8ment was reV￿Wed and amendgd, as follows, iri light of feèdback from students. staff anL1 Gov8mots". N8w Hall, 8 Catholic boarding and d8y school. providgs the bost start In Ilfe, enabling students tts meet confidenuy the challenges olthe widerworkl. Here academic ex¢ellence is acht6ved in surroundings wh8re relab"onships are bas8d on Caro, trust and respect. We welcome students from many traditions, building a Christian communlty that has at its heart prayer a￿1 sorvic8 to others. Strategic Alm5 of New Hall School 11) To promote th8 CatholK life 01th8 Seh(x)l and provide outslandlng Re1bJious Education 121 To be an outstarnliw and caring educator ol all students 131 To recruit. support atKI develop outstanding staff 141 To provith outstanding leaming opportunitles through th8 1x)-curriculum 151 To promote New H811's repuiation 88 a distinctive school af cholea 161 To share o(¢r ethos, grow and innovate 171 To ensure the on-going gocurlty olthe School's financial future, and ensure affordabilily of f88g, whi16 continuing to invest in improving the quality of education Page 4 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 Governlng Body Detalls of Trustees (who are also Gov8rnors ofth& Schodl. I￿luding Ihos8who served during the yearand thos8 in offi( at thè date the linencial statemenls weie signed, are1S$ted in the'reference and administrative detsils" on page 1 of Ihi8 report. Govgrnors with chlldrerTr att&nd#ig the School are on the same comtnerdal term8 as other par8nt8. At any one time Ihero must b8 a mÈnimum 016 Govemors, whilst Ihg maximum nutnber pgimilled is 13. New Govèrnors are appointed by the full Goveming Body following rec(xnfflendations from the Nominations Committee of Gov9rnois. A majoiily Of the Govemors must be Catholic. On9 third ol the Governors must r8lire each year. Retiring Governors shall bè aligible for re-appointment for consecutive periods not exce8ding in aggreg8la 9 years from the date of their original 8PPDinfmant. Thereafter Governor3 are not eligible for re-appointment until on8 yèar after their retirement. Recrultment and tralnlng of Governors The tharitls Governors are appointed at a meetlng of Ihg B08rd of Govamors. followro a selection process and recomtnendation from the N￿nIn2tIonS Commltteè. The Governing BcKly 18quires breadth and depth of experienc8 to carry out its dut165 effectwely. When recruiting new Governors. Nominations Committee takgs into COnbid&ralion eligibility, p8rsonal compét6n(*. spe(4alisl skills, reprgs8ntstion of the diversity of th8 School communily and Iccal avai18bility. New Governors are Inducted Into the workings of the Sthod. Ineludlno the provision of key information eovering Board policy, Schoo1 eth08 and financial iAfotmation. All Governors ar8 éncotsraged to attend training courses 8nd workshops tun by sp804slist schod organisation8. Charjty Governance Codè Tho Gov8m015 are awa¥e ol Ihg Chaiity Gov8rnanco Code published in 2018 and refreshed in 2020, which sets out the principles and recommanded practi￿ for good govern8ncewithln the sector. The Gove¥nors are satisfied that the Charity applE5 thE prinuplf*S ol the code ￿thIn its current governancg arrangetnents and review5 ils perfOrMar4￿ annually to gnsure practi￿ remain5 wrrent. Fundrai8lng The tnafofity of the Sdiod's incoma is trom school fees and olher assouat8d Income. NHST has not engaoed wth third par￿.￿S lo iaise funds and any direct approach to members ol the public lor funding has been Ilmited to parents of pupils ar￿ alumni, and is financially in51gnifi¢anl. NHST'S 8thos applies equally to fundraising aclivity. including policies rEgardI￿g protection of wln8rable individuals, intrusion ol privacy or pressure to donate. NHST regsslergd with the Fundraising Regulator. No complaints have b6&n received in relation lo oui fundialslng activits'es. OrganisatEonal management of tha group New Hall School T¥4Jst has ￿ 8ubsidiaries, New Hall Sd)ool EnterprÈs88 LiThit6d l°NHSE'I (Company Registfalion No. 3521688, England and Wales), a company ¢arrying out general tfdding a¢tsvities, and N8w Hall Multi Academy Trust C'NHMAT'I Icompany Ragistiatian No. 08643881, EThJland and Wal6sl, a company limited by guarantee and an axempt charity, whlch operates Messing Prirrary SclK)ol a5 an academy. NHMAT was incorporated on 8 August 2013 ar¥1 took over the tnanagEment ol Messing Primary School when it converted to academy status on 1 September 2013. The Governors, as ¢harily trustees, maintain ov8rall respon8ibility l(K thè Charity and its subsidiaries and thelr assets. During Ilh9 year, the Govpmors determined the gènèral polioy of the charity th regards to the provision oleducalion. Thg Governors attended a wid& range ol School ev8nts. Ggvoinors assisted in the management of th$ charity wa the operati¢)n ot fiv& SLI)-comrnlttees'. the Education & Staffing Comrnittee, tho Finan￿ & General Purpos8s Comrnittee. Bursaries and Scholarships Committee, the Nominations Committe8 2nd th8 Rernuneration Committee, R8muneration policy lor all staff Inc1￿11[[g S8nior management personnel Is set by the Board, wilh the objective of providing appropri8t8 ineantivas to encourage enhanced p8rf0rtll8nl￿ arKI of rewardlng fairly and re8ponsibly indtvidual Gontnbulions lo the Sthool's 8ueoess. During Iheyear. the day-to4ay managementofth8 charity was delegated lo the Pt¢ncip81, who was supported by a Senior Le8derthip & Man￿￿merI1 T6am as follows as ofJuly 2021.. Principal, Govgrnor knd Executsve He￿1 & Accounting Officèr of New Hall Mulli Academy Tiusl D8puty Prindpal Vice Piincipal ICt*rriculum, Growth & Innovat40nl and Chair & Director of New H811 Multl Academy TrLBt Vice Principa518oarding & Operations) Head of FInan￿ and Chi¢1 Financial Offlcer of N8w Hall Multi Acad8my Trust Estate Manager and Health & Safety Co-ordinator Pgge 5 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 Head ol Nursery Division Head of Pr&-Prep DI￿7510n Head of P¥eparaty Divlsion H8ad ol Girfs, & Boys, Diwsion Head af Slxth Form Head of Human Resources DirecthT ol Learning S Tea¢hing Director ol Studie5 Head ol Theology Executive Assistant & ckrt( to Governors Thero is an overall Lead Dèsignated Safeguarding Lead (Lead DSL). who is also the DSL for Soarding. The H8ad of eaGh Dlvision is also tho DSL for their respective Diwsion. Members, Ilablllty NHST is constituted as a company limited by guaran1&6. In the event ol NHST belng wound up. membgr8 are IEqulred to contribute an amount llol exceeding £1. Employment pollcy Allhe heartofourSchoD5 i8 th8 faith thatis essential to ils chaiaclor. Vvhife the School is a Catholiccommunity. itW81eomès sludgnts and staff DI differont Feligious beliefs who support its eth05. The spi¢ilu81 and lailh development ol all those 8t NHST is of ihe h￿h&st importance. As a Cathollc school, the School ieservES IhEt right to 18setV8 ￿rtain posts for practising Calholics, in accordanca with Di0￿San guKlance. and seeks to ensuig that all staff support the School's èthos, as a Catholic independent boardi￿ & day school. The School 8UPPOrts th8 principle of equ81 opportunitles and opposes unfalr discrimination on the basis ol age. sex, mairiag8 and Civil partner8hip. gendEr ieassignmÈnt, rac8, disability, sexual oii8nlatÈon, relwJlon or belpf. pregnancy and maternity and part-time or fixgd-tatm ernpbyment Idefin8d as 'Protecled Characteristics'l. Being a committed 8qU81 opportunitie8 ernployer, the School will tak8 6very possibSe stop to ensufft that employees are treated equally and fairly. Pollcies and pra¢lic8s will confumi with the principle of equal cpportunities in terms of recruitm8nt, selection, training, pTomotion, career d&veloprn8nt, disopline, redundancy and dlsmissal, taking into account that the Catts)1￿ 8th051s upheld aThJ sUPPOrted le.g. through the prov*sion ol specified reserved post5 for pradising cathol￿￿), The mean gendei pay Measu￿ the difffjren￿ belween the averag8 pay of all women and all m8n. Our mean gender pay gap is 11.1°k12020- 1.6°/DI. This compares favouiably with thp National Averag8 of 14.9¥.12020- 14.6%). When analys8d ft&rther by employee cat8gory. thi5 shows that at S8nlor management level there is a positive mean pay gap, wth lem8le employees earnlng on average mora than men. Among teaching and edUcat￿nal prOfess￿nal5, whtrre wornen make up 63% 01 tho Workfor￿{202O- 63Yol. thè mèan pay gap 18 8.8Yo12020- 1.9%). This compares favourably with th8 National Average of 10.9Vo for Ihls i)ccupatlonal group. 01 our support employees 68% are women and lh8 m88n genderpay gap is 1,7% {2020- positive m8an gend8r pay gapl. The me(fjan gender p8y gap measures th8 diff8r8nce in pay betsvgen the 'rniddle man, and 'mkld18 women, if you rank gmployees ac¢ordiro to pay. Our median gender pay gap 1$ 7.2Vo12020- 2.5%) ccrtnpared to the National M8dlan pay gap lor all employees o115.4Qh12020- 15.5Yo An analysis ol part-tim8 to full time working Shows that the median pay gap remains posits've fvr part-tirne support staff. The stops taken to mak@ the SGhool a welcom¥ig enviconment for lgrnale emplo￿8$ include the opening ol our own Nur88ry on the School sil8, assists.ng staff to rsturn to the workplaee following parental leave. All staff are provided with an Employment Manual detailing all policies and prooedures relating to èmployment. Thg Employtnent Manual templa18 is provided by Veale Wasbrough Vizards, a leading law firm, who ensure that the School is provided ￿th any d)anges requi18d as 8 result ol changes to legislation. The School communicat88 Wlth all employe85 ￿gUlarlY through normal Thanagement channels which incJud8 w66kty staff bll'efings lor teachers, hall lertnly staff meetings for 811 staff, etn&il communicatton and t6am meetings. Staff are informed of any d8Clsions that are likely lo affect thèir interests, and arè Consulted on any signif5cant changes. Pagé 6 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 TRUSTEES, RESPOAISIBILITIES IN RELA TION ro THE FINANCIAL STA TEMENTS The Govemots as Trustees (who sr8 at80 directors ol New Hall School Trust for the purpos¢s of company lawl ar8 responsible for preparing the Annual Report (incorporating a strJlggi¢ report) and the financial statemènts in accorda15¢9 with applicablts law and ￿9￿lationS. Company law r8qUll6S the Trustees lo prepare financial statements for each finanaal year. Under that18w the Trusiees have ele¢ied lo pr8P8r8 thè financial slalements in accordance with Unit8d Kingdom Generally A￿pt￿ Accounting Practic8 {United Kingdom A¢wuntFng Standards) and ap￿1¢ab]e law. Under company law. the Trustees must not ap￿￿ve flnan¢ial slalemenls unless they are satisfied that they glve a t¥u8 and fair view of the Stsle of affairs of th@ charitab18 company and the group and of (he result of the group for that period. In piepaiing these financial sl81gr118nts, the trustees are requir8d to.. select suitable accountiro policies atKI then apply thèm con8iSt8ntly', make judgmants and accounting estwnates that are reasonable and prud¢nt,' State wliether appl¢¢able UK Accounttig Standards hav6 been followed, subject lo any material departures disclosBd and Explsined iti th8 financial statements., prepare the financial statements on the going concern basis unS8SS It18 Inappropriate lo presume thai ihe charitabb cr)mpany will contlnue in bLEsines8. The Trustees are iesponslble for keeping proper accounts'ng r9cords that disckjse wth reasonable accuracy al any tim8 the finandal position ol the charitable company and the group and enable Ihern lo ensure that the financial st8tbments comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the chaiilable cotnpatty and the group and hence lor taking ieasonab16 Steps lor the prevention and dele¢lion ol fraud a¥*d other irregularities. Each Trustee confirms that.. so far as they are aware, Ihwe Is no rel8vanl audit information ol which New Hall School Trusfs auditor Is urbaware". and the trustse has taken all the steps that 81he ought to have taken as a trust8è In order to rnake hatselflhitnse aware of any relevant audlt information and to 8stablish that New Hall Schod Trust's auditor is awaB of that inftitrnation. The Trustees are responssbb for the Maintenan￿ ar>d Integr¢ty of finand81 Information Includad on th8 charitable company's websile. Legislation in the United Kingdom governing the propar811on and dissemination ot rin8ncl81 ststements m8y differ from legislation in othèrlurisdictions. This eonfirmatlon is giv8n atKI should be interpreted in accordance wsth the provislons of $418 01 the Comp8nie5 Act 2006. Page 7 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE Revlow of achlevements and p6rformance fortha year Impact of thè Pandeml¢- Covld-19 The School was fully operational from the Michaelmas 2020 term, until the UK Government's dosura ol all schools in January 2021. New Hall closed between 11 January and 8 March 2021, duriw which we offered a fvll curriculum utilising the SchiKJl's r8mote learning platform. Sinc6 then. the School has pmained op8n, With remote learning put in pk4￿ for sbjdents required to self-lsolate for short periods. Significant measures have been pul in place to Ensu￿ students and staff arè Safe. dosely following Department lor Education and Public Health England guidanes. Facilities lor handwashing, additional cleanlng roulines aTh3 PPE have been provided. Outdoor play and learning spaces continue to te developed, to 8UPPOrt Ihe'bubble. framework. From SBptetnber 2021. thè School has 18tumad to pre-pandemic operations, wtthout the need for'bubbl8s'. In re¢ognilion of the impact on the pandemic on New Hall famllies, the Trustees took th8 decision to redu￿ fees lor the Trinity Tgrtti 2020 2nd to r8duc8 f6ès for the 2020121 acadernic year. In aJd"rtion, extra bur&ary support was provided on a rnean8-tested basis. Trustees have mel remotely on a regular basis to asses8 continually the operation ol the School and to provide support and guidance. Trustees and M8nagernEllt reviwted the future Stffdtegy for the Scho(Fl, in light of the deve￿pIng siluation and impact on Asks to the School. In r8cognitv)n ol the likely impact of th8 8conomio downturn caused by the pandemlc for our parents. the consequent Un￿rtaIntieS on fttture rèvenues for the School and Ihe itnmediate and on-goiro oi>st ol operation under Covid-19 r&8trictions. a p￿n ol ¢osl redudion was implemented, effeotive Irorn 2020121. Regerve and d8velopment plans were r8wew8d and the Capital investtnenl plan restriGted, GOn￿ntrating on lacilibe5 to SUPPOrt the School lo r6main open for students under CoMd-1g ¢onditions. Key targets of the 2020121 Developmènt Plan The Idlowing targèts were completed., To S￿pOrt Me5slng Primary School wlh fut¥Jing. infrÉlStru¢tur8 and respons8 its the paThJernic 2. To maximise tschnok)gy to develop the Retrote Le8rning offering To build the School section of the new r(iad lo faciltlat8 tha tspening olthe Northem AC￿SS Link Road To install security fencing around tha perimeter ol thg School site 5. To incre88e OUtdo¥Drtearhing space in response to pandeM￿- Covid-19 In addition to the above, th& senior staff and Governors have established a Ma5terplan for the School'8 m8dium and long term dèvelopm8nt and S￿ undertaking various strateglc reviews, lo assess prioiitie5 going forward. A numb&roffeasibillty 8ludie5 haw been comMiss￿n&d in relation lo expansion of laallties, including 8CqUlSitioft of 8ddilional landlproperty. NHSTS èstablishrnent ol a Multi Atraderny tIU8t INHMATI will enable it to SPDnsor further a¢ademie8, if this15 eonshjered approprt8t8 and beneficial. These options ate kept under annual revi8w. School Roll Thè roll reached 1,329 by the ond of the academicypar 2020121. 1.357 slwlenls w8[8 confirmed on roll from Seplefflbgr 2021. Academi¢ Standards and Performanc8 Due to the pandemic, 2021 SATS did not tak8 place. At GCSE, 79% of grades were al 7+ IA'IAI. w*th 55% at 8+ and over 29% 8t g. Eight skndents a¢hioved 8 P8rf8Ct scor6 of straiqhl gs. At A L8V61, 97% olgrades w61e at A'.B. wfth 75% at A'IA and 39% at A.. 72 students a¢hi8ved all A. or A grades. with 30 achieving 81 lfjasl three A. grades. Pr8mlseB The buildings and grounds at New Hall ar8 Grade I Ilsted and are a Magnific￿nI setting fDr a scly)ol. Thè extenslva facilille5 and grounds continue to need ca￿f￿1 maintsnance and, during the year, a Ihortsugh programme ol improvem8nt and rèfutbishment ¢ontsnu8d. Page 8 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 The Sth(K)I prid8S itS61* on its rleh heritage, magnificent m8in building and stLEnniRg carnpus. It is a majtsr priority for th8 School that the campus is d8veloped in a way that enhances its beauty and erllph8￿SeS its hlstorical features lor th8 benefit ol the local and wider community. The SchDoI does not receive grants frcm Histor￿ Eroland for essèntial works tts malritain the main buikling, and so TO1195 on futKling the work5 through luture financial slabilily. which bè best achieved Ihrovgh the Schoofs re￿Trt expansion. Wlhin the grounds, th8 School has &x￿lIent sports facilities, including a 25-rnetre 64an8 hea18d indoor switnffling pool, ten tgnnis (x>urtS. 8￿h1 n8tball courts, iwo Astrtsturf hoc*eylfootball pitches. 3G w"t¢h, five cricket wickets, aight rugby pitches, a 400-metre national standard athloti¢s track and a purp08e- built fitnes5 Suite, fully equipped with s¢ale-of-Ih8-&rt gytn ￿uipMent. Most outdoor faoilities are now flo(MJlil. The Schod wntinue8 lo face cha118tU8s du6 to the planned developrnent around Ihg campus within the North Easl Chèlmsford Area Action Plan INECAAPI. Th& School worked closety throughout the year with profe&%ional advisers, Chelrllsford Clly Counul and the property develop8r for NECAAP, to ensure our concems over thè impxt that th8 proposed development could have on Naw Hall are taken into account during th8 dav61(pment stages. The Planning Inspèclor had previousFy confirmed the wuirernent that the wtenlial erosiDn of the setting of New Hall should be balan￿d by Compensatory Measures, to be a¢hieved a coMpreheTrsive Land DeS￿n & Management Plan. The School Ih8Telor8 continues to engagewth th& ￿anning wocess and dev8lopmenl ofthe sehem&, to wotect NHST8 interg$ts and to ensure ways are found to enhance the setting. In a¢cordan¢&wllh the key 2020r21 targets in the School Developm8nt Plan, 8 rangè of premises improvements and new developments have been achièved, to enhance the edu¢aQonal lacilili8s and the catnpus.. Improvements io a￿$￿egre$S r(￿tes. including the Northem A¢￿S Link Road and foolpath8 and cyclè route5 Work also ¢onlinues on a numbgr tsf further projects for the future, for which feasibility studi8s hav8 b66n completed or are in pro￿5s.. Redeveloprnent ol th? h15tori¢ HaW￿Y Quad area, including a dedicalad Chaplaincy Hub. Construction of iwo purpose-built lodge-style buildings which vvovld craal6 foul sell-contalned woperties for leS￿entIal accommodation. charlty Fundralsing for those In Need The s￿dentS and staff Of the Schod engage In a wide range of charitable work, including raising substantial funds for local, national and intemational charities. Charitabl8 fundraislng continued to have a high profil& in S¢hool 8ctivities, supwrted by stud8nts, staff and paients. In 2020121. funds w8re raised for a number of charities including.. Macmillan Cancer Swporl, Brentwood Catholie Children's Society I'BCCS'I, Miz8n Foundaton, Fairtiade F(AJndation, Can￿r R6seareh Uk, Australian Red Cross, World Vlfildlife Fund- Australia, StVin￿nt de Paul-Auslralia, Litu6 Havens, NSPCC. Sh08box appeal and the Captain Tom Foundation. In total, we have raSsed £7,273 lor ¢hariii8s in 2020121. PUBLIC BENEFIT Communlty Servlce & Chorltsble Work Key examples of how the charity provid6s publlc benefil through ils valu9s and aims- New Hall ML¢ItI A¢ademy Trust INHMATI- academy 8ponsorshlp NHST has undertaken Sponsorship ol a primary aeadamy, which was in 8pe¢ial measur8s in 2012, to help enable that 8chool to improve its performance and grow th8 roll. NHSTwas the first indeperKlenl school nallonally lo agreeto sponsor a primary school. For this pioneering work wth th8 maintained Sector, NHST was eommeThJed by Rt Hon Micha81 Gove MP, Lord Nash and by th8 DfE. NHST establlshed a Multi Academy Trust INHMAT) Irotn 8 August 2013. having woil(ed closely with the prfrnary school over the previous 18 months, Including involvement in the appoi￿tment of the new Headteacher. New Hall School sha18S membsrs ol$taff and facilities with MEssing Prfmary School., an SMT m8mb@rhas beccrfne a GOver￿r01 Messing Primary School., 5pe¢ialistteachÈrs from New Hall School t68ch PE, Mathemati¢s. Languagos and swimmitvJ tothe prfmary school pupils,. and New Hall School staff have assist8d with thè primary School￿ educational, IT, payroll, finanaal. m8rketinglPR and prernises devèlopments. In th& 2020121 academlc year, Messing Primary School's roll remained steady, with 85 pupils by S6ptsmber 2021. Messing Primary School was rated by ofsted as 'good with outstandlng leadership and managernent, outstandlng personal d9V8lopment, b8ha￿0Ur and welfare, and outstanding Early Years, provision, in SEPtember 2019. Pag8 9 NEW HALL SCHOOL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2021 Provl$lon of Catholle Chapel for Publlc Worshlp The Sel￿01 provxles ils Chap81 for th8 Csthollc parish ol springr￿ld. which is op8n lo the publlc every Sunday moming throughout the calendar year. The School provides facillties lor the benefit of the public who attend these services. New Hall Voluntsry Service INHVSI ThTough the voluntary work of NHVS and olher charitable work. help is given to th088 in Tre8d in the local and wider (x)mmunity. Frorn Year 8, students are invitsd lo join NHVS Action GroL¢Pg which are appropriate to thèir age, to give them the opportunity to experi8n￿ one-to-one conta¢t with those v) n8ed in th8 cixllmunity. Once Ihey are in Year 12. tnany ol these same students volunts6r lo become leaders ol Ihe Action Gr￿p8. Thn% Involvement enco(¢rage3 many slud8nls lo offer voluntary work th their 2duSt lives. Parènts, staff and other adul($ 8UPPOrt the actiMt￿s of the Aotion Groups in many way5. The CUT￿nt A¢tion Groups are detailed on the School website. NHVS is #nportanl to th8 educational work ofthe School and lo ils rel￿10￿S purpose as a Catholic school. A fflajorfeature of a New Hall educdtion, ¢omm@nd8d by th8 Diocosan Section 48 inspgctors, 18 the caring ethos and spirit of service to others. Trusteesh5p of Herltsge Campus for tho Local Communlty Th8 beautiful h8rltaga campus is enjoyed by th8 loc81 and W￿er community. The School 8haTes its first class facilities with a Var￿(Y ol 8ducational 8nd rdlgious g¥oups. These fa¢ililiès are often provlded elther without charge or at rftlnlmal cosL NHST 8eek5 to protect aThJ ethan￿ th8 harilage of the Grad¥ I listed building and Grade11 Ilstèd park and garden IThe Avenue), as the setting for the running of New Hall S¢hool and for the tenefit ol others. Organlsotk)ns Uslng Now Hall Facllltles Many ol the New Hall facTlitles are made availab￿ for use by the public. A number ol local, regional and natlonal groups have m*18 US8 of School faulitias during the year, including weekdays, tsvenings, weekends and s¢hool holiday5. These ale detalled on the'public bènefiy $8Ctlon ol trE New Hall Sthool web811e. ButsaAes and Fee Reml$slon$ NHST has n)ade significant bursaries, grants and lee remissions available. Thesa help students whosg parents woukl othetwse ￿ unable to afford a New Hall educatvjn. Bursaries are widely adv8rtised, Including on the School web8119, in the prospectus, in tnaillngs to s¢hools. in parish newalèttèrs, in regN)nal newspapers atKI magazin88, in nallonal papers 8rKJ by wol￿14￿0￿1h. Bursaries and hardship funds are availab￿ for current families exp8rien¢ing finan￿81 difficulties. These bursari@s and aW2rds cAn 8180 be for up to 100% 01 the Igos. The pandemlc has a signifKant financial impact OR some New Hall fatnllie5. In response, the School Creat￿ a Coronavirus Hardship Fund to ensure continuity ol education, particul8rty for tho58 St￿ents completr'ng their 8xamination years. Donations were roceived from parents to support the fund and ha8 enabled the School to offeran extendgd numberof haid5hlp glanis. During 2020121, 52164 in 20191201 students In the Schod benefilled from means-tested bursary grants towards their 8¢hool fees. 01 thèse 816 in 2ts191201 r8ceiv8d 100% feE retn1s5ion. In order to m2￿Mis8 the funds availab￿ to existing students, no nEW bur8ary Awards were made to studgnls joining the School al the 81art of 2020121 115 in 2D191201. The School also offers other forms of fee discounts to make a Ngw Hall education tnor6 accessible to those who W¢￿Id not othetWi5e be able to loin. Sibling dISc￿nts are spplled trom tINrd child onwards. Grants were also tnade tr) Cover boarding chargas for students who cannot afford this provislon. During 2020r21, a total of 3491340 in 20191201 students in thp whol¢ SchoDI not pay full lees. Communlty Support durlng Pandemlc~ Covld-19 In addition lo lh8 Coronavirus Hardship Fund, the School was able to support tho wid8r community in 8 number ol ways.. The School remain8d open for K8y Wodncern for a petiod of at ￿88t months from when th8 fin8nckg18tat¢ments are authorBed for issuè. Our responsibilities and the responsibilitie8 of the trustè&s with respect to going conc8rll are described in th8 relevant sections of Ihk8 report. oth?r Inforniatton Th6 other ￿fornia￿on c(xnprlses the information includ8d In th6 Annual Report olhar than the financial stal¢m8ntS 8Th our auditOF'S report thereon. Th8 trustees are re5ponsitAg for the other Infom)ation contained within the Annual Report. Our opinion on the financial slatetneni8 d06s nol coverthe olhei infoitnation and, ex￿p1 to th8 8Xt8nt othèrwise explic411y stated in our report, W8 do not express any form of 8ssurallce conclusion Ihereon. Our responsibility is to read the other infotrn&tlon and, in doing so, ¢onsldar whet￿r the olhgr information is mat6rialEy in¢onsist8nt wlth thè knancial statements or our kn￿￿￿edge ob(ained in th8 eourse ol the audit or oth8Twise appeats to be materially misstated. If we identlfy such mater481 inconsistencies or apparent material mlsststements, we are required to detemine whether this gives rise to a mdteria5 misstatem8llt in the financial statements them5elve5. If, based on the work we have pBrformod, we conclud8 that there i% a material misstatement of this other informabori, we ale required to report that fact. We have nDthing lo r8POrt in this ragard. Oplnlons on other mattèrs prescribed by the Companles A¢t Z006 In our opinion, based on th8 work undertaken in th8 course ol the audit.. the 5nlormation giv8n in the Trustees, Report, which includes the Directors. Report and thè Slrateglc Report prèpared for the purpos8s of company law, lor the financial year forwhlch the finanei81 statements are prepared IS COn818tent with the fina￿781 81gtements," and Page 14 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HALL SCHOOL TRUST (CONTINUED) the Direolors, Report and the Strategic R8port included wthin Ihg Trustees, Report have been prepared in accordan(È wilh applicablé lagal requiremerits. Matters on which w8 are requlred to r8POrt by excèptlon In the Ilght ol the kNo￿edg8 and understanding ol the group aThd the parent Charitab￿ cunpany and their environment obtain8d in the course of the audit, we have not identified material rnisststements in ihe Dir8Ctors' Raport, orthe Strategic Report indud8d wthln the Trustees, Report. We have nothing to r9POrt in respect ol tha f01b￿n0 rnatters where the Cornpanies Act 2006 requires us to report to you if, in our opinion.. ad8quat8 aecounling records hav8 N)1 been kept by the par8nt charitable company, or retums adequate for fmr audit have not been received from branches not visited by us.. or the parent ¢haritab18 Cotnpany financial staleM8nts &re not in agreementwth Ihg awounting records and r8tutns', or c&rtain di8¢losu¥es oltrustees, remun8ralian 8￿CIfied by law ar8 not made", or we have not rwxiv￿l all the Énftsrmalion and explanab.ons we require for our 8udit. R&sponslblll¢le$ of trustee5 As explEAned more fully in thg Statement of Trustees. responslbllitlès. the irustees Iwho are also the direct(Ks of th8 Charitab￿ cotnpany for the purpo888 of company lawl aro responslbk for the preparation of the financial statements and for being satisfied that they give a true and fair vi8w, and for such inlgrnal ￿)ntrol as the tru%tÉes dei8rmin8 is necessary to enable the preparation ol finanaal statements that are frea from materid mi381918ment, whether due lo fraud or error. n pr8paring the financial stalemonts. fhe trusteès are responsible for a55essing ihe group's a1￿ parent chsritable eotnpany's ability lo continue a$ a going concgin, disd05ing, as applicable, matt8ts rèlated to ooing ¢oncern and uslng the going ¢on¢ern basis of accounb.ng unless the Irvsle&s eilher intend to liquidate th8 group or parent charilab company or to cease operations, or have no realistic alternativ8 but to do so. Audltorfs re8ponslblllties forthe audlt of the flnAnclal statements Our objectives a￿ to obtain reasonable assumnce abautwhether the financial slaletnents as a whcTrle are free frorn mateThal mis5tateThent. whether du8 lo fraud or error, and to issue an 8uditoVs report that indude5 our opinion. Reasonabb a58Ufance ks- a high lèvel of assursnce, but is not a guarantee that an audit conducted in accordan￿ wrth ISAS IUKI wi11 always d8t6Ct a material misstatement when il exists. Mis8lal8ments can arise from fraud oreiror and are Considered tnatEf*al il. individu81ty or in the aggregalg, they could ￿asOnablY be expected to Influen￿ the economic decisions of usors taken on the basis of the5a financial stalements. Thè èxtènt lo whlch tho auditwas consldered capab18 of dpte¢tlng Irregularities, Inoludlng fraud Irregularitle8 are instanc8s of non-cornpliance wth laws and T8gulations. The objectives of ouraudlt are to obtain suffiryenl appropriate audlt èvidence regarding C(￿pIla￿￿ with laws and regulations that have a direct effect on thè delermination tsl material amounts and disGlosures in th8 finanaal ststements, lo porf0(m audit procedures to help idents.fy ins18nce5 01 non-cofflpllance with other laws and regulations that Ènay havè a material effe¢t on the finandal statements, and lo respond appropriately to idenll[￿d or suspected non-compliance with laws and regulations hlenlified during the audit. In ielation to fraud, thg objèctlves of our audit ar8 to Identify and assess th8 iisk of rnateiia1 misslal8ment of th8 financial stal8m8nt5 due to fraud, to obtain suffioent appi(yriale audit evIden￿ regardillg tho assessed risks ol material misstatsm8nl due to fraud through d8signlng aThJ implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during tho audit. How8V8r, It is the primary r&spon5tbility ol management, with the oversight of tho88 charg8d wlth govemance, to ensure that Ihe entills 0porat￿n$ are cOnd￿ted ill accDrdan¢e with tha prow8lons of laws and regulations and for t1￿ prevenlion anij detection ol fi8ud. In identttying and assessing risks of material misstat8Ef8nt In respect of irregularities, including fraud, tha group audit angagemenl 188m'. obtained an undetstandlng of the nature ofthe sector, Including Ihe18gal arKI regulatory framework that the grDLP and parent charitable company operal&s in and how the group and parent charitatAe company are complwng the legal and regulatory framework.. Pa￿ 15 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HALL SCHOOL TRUST (CONTINUED) inqulred of management, and those chargod wlth governa1￿, about their own 1d8ntifiL￿tiOrn and assessment of th8 risks of irregularities. Including any known actual, suspected or alleged instance8 of fraud., discussed matt8rs atx)ul non-compliancè with laws and regulations and how Iraud mlght occur induding assessment ol hriw and wher8 the financtal Statements may be susceptibl8 to fraud. As a result ol fvse procEduie5, we ¢onsidor the most 8igThficant laws and regulations that have 8 direct impaGt on the financ￿1 statemenis are FRS 102, Charitie8 SORP IFRS 1021, CoMpan￿S Act 2006, Charitias Act 2011, the pargnl charitable cornpany'5 governing document, tax18gislation and Charities IProte¢lK)n and Social ItJve5tmantl Aot 2016. We rformed audit pior£dures to detect non-coinpliances which may h&v8 a material impact on the financial ststements which included reviewing th8 financial statements Ind￿lI￿j the Trustees, Report, remainiw alert to new QT unusual transactions which may iiot be in accordanc8 with th8 governing docurnents, insp8Cting correspondence wilh bcal tsx authOrit￿S and 8v8luating adwce re￿IVed from extemal admsors. Th& most significant laws and tegulations that have an indirect impact on the flnancLg1 statements ar8 Th8 Educa￿[￿1 Ilndependentschool Standards) Regulations2014. Keeping Chikjren Safe in Education under88Ctlon 175 of the Education Act 2002. arnl the UK General Data Prote¢tr'on Re9ulalion IUK GDPRI. We PE7rfomied audil pEoc8dur8S to inquire of management and those charged with governance whelhw the charitaNe wmpany is in complianc8 with th858 law atKI regulatlort8 and inspected ¢orre8pond6nce with regulatory aulhorili8S. The group audit eng8g9m6nt team identlfied the risk ol rnanag8tn8nt ovèrrid6 of controls as the area where the financial ststernent5 We￿ most suscÈpl1b￿ to material n)isstatement due to fraud. Audit pl(￿edureS performed included bul w9rè not limited to testing manual journal 8ntri8s and other adjustments, evaluating the bu51ne55 rab"onale in relation lo 51yThli¢anl. unusual tr8nsactlons transactions enterod into outside the notmal course ol business. A fLSrthérd6s¢riptlon ol our responsibilities forthe aud￿ of the financial slaternents Is provlded on the Financial Reporting Council's w8bslte St htt '.Ilwww.Ir¢.or orsies on5ibillt*5. This description forrns part Of our auditor's report. Use of our roport This Teport is rnade to the ¢haritatle companys members, as a b£dy. in accord8nc8 With Chapter 3 of Part 16 of the Compani8s Act 2006. Our audit work has b88n undertak6n so that we might slato lo the charitab16 company's members thosè malters we ar8 roquir8d to st&te tothetn in an auditorfs repDrtand forno otherpurpose. To the fullest extont pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and thg th8ritsble cornpany's members as a body, lor our auditwork, thls report, or for the opinions we have fottned. CLAIRE SUTHERLAND Isanior Statulory Audilorl For and on behalfof RSM UK AUDIT LLP, Statutory Auditor Charter8d Accountants lenheim House Nèwmarket Road Bury St Edmunds IP33 3SB Date 11 April 2022 RSM UK Al￿11 LLP is ellgible to act as an audltor In tem)s of $￿tion 1212 of th8 Cornpanies Act 2006 Page 16 NEW HALL SCHOOL TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021 Multt Academy Permaneat Rest[￿ted Endowment Fund Fun Unre$tricied Funds Restricted Funds Total 2021 Total 2020 Notes InGomo and endowm8nts from= Donatlons CharitablÈ actlvltles School fee5 and olh8rcharges Funding foreducalbnal purposes Other Othor tradlng activitie5 Investments Other income 24.604 21,444 46.048 51,499 22,7D4,206 22.704,206 22.320,521 558,762 558,762 53.723 112,518 25,855 218,118 529,809 51,328 262,2?.7 48,603 673.200 53.711 100.528 24,024 218.118 12 11.694 41 1.790 Total Incom8 23,100,587 26,702 591,941 23,719,230 23,937,187 EKpendllure on.. Charltabk actlvltles Provislon of educatlDn Raising lund5 Raislng duiialions Tra¢llno', ¢osl ofgoods sold and other costs 21.715,765 24,583 648,972 88,374 22,477,694 23,041.969 40 424 464 951 210,455 210,455 338.913 Total expandituro 21,926.220 24.e23 649,396 88,374 22,668,613 23,381,833 Nel IIoss8sygain5 on investments 13 12,3941 12,3941 1.089 N•t Incomellexponditur•} 1.174,367 13151 157,4551 188,3741 1.028,223 556,xM3 Transfers between fvnds ActU8rial1055es on defin2d benelt per￿lOn $th8m8 121,3381 9,500 11,838 131,0001 131,0001 117,0(M)I Net movement In funds 1,153.029 9.1 176,6171 188,3741 197,223 539,443 Balances brought forwatd al l ALuusI 2020 20,249,237 132,014 1.195.724 3,093,097 24.670.072 24,130,629 Balances tarrled fO￿ard at 31 July 2021 21,402.266 141,199 1,119.107 3.004.723 25.667.295 24,670,072 The notes on pages 21 tr1 42 form part ofthEse finon¢lal $talem8nts. Page 17 NEW HALL SCHOOL TRUST CONSOLIDATED AND PARENT CHARITY BALANCE SHEETS AS AT 31 JULY 2021 Group Charity 2021 2020 2021 2020 Notes Flxèd assèts Tangible assèts Investments 12 13 25,158,210 51,363 24,874,260 53,757 23,946,746 61,366 23,434,402 53,759 ,209,573 24.728,017 23.998,113 23,488,161 CEErrent as8ets Slo¢kts Debtor8 Cash at bank and In hand 87,249 768,824 8,244,909 88.284 1,019,898 8,314,996 31,775 815,775 8,02]￿67 29,278 1,108,640 8,062,927 14 9,100,982 9,423,178 8,871.107 9,200,843 Current Llabllities Creditor8 payabla WIth￿ one year 15 16.153,9061 16,362,389) 16,056,041> 16,290,210) Net current assots 2.947,076 3,060.789 2,816,066 2,910,633 Total assèts loss currellt 28,156,649 27.788,806 26.813,179 26.398,794 Long term Liabllltl8s Cr8ditot5 payable after tsne ygar Pension scheme liability 16 23 12,213,354) 1276,0001 12,904,734) 12,213,354) 1214,0001 12.904,7341 Total not assets 28,667,295 24.67D,072 24,599.825 23,494,060 R•presented by.. Funds and re$¥rves Capital fund5 Permanent endowment fL&nd Chailtable income IvrKJs Unrestiicted fund5 G8n8ral fLind De51gnaled lund Restracted funds Multi Acadèmy restiieted ￿nd 18 3.004,723 3,093,097 3.004,723 3,093.097 19 20 21 21 19,882,BOO 1,519,466 141,199 1,119,107 18,729,771 1,519,486 132,014 1,195,724 19,934,437 1,519,466 141,199 18,749,483 1.519,466 132.014 25,667.295 24,e70,072 24.699,825 23,494,060 Th8 surplus for the fi £616,072). Approved by the li signed on their be ancial yeardealt with the financial stalernents of th8 Parent Charity was £1,105,76512020', tees o ew Hall S¢hool Trust Icornpany R8gistration No. 5472420 (England arKI Walesll and If by.. Dr M Edelsten Trust68 Approved by the trustees on.. 022 The notes on pag88 21 to 42 form part of these finan¢lal statem8nts. Page 18 NEW HALL SCHOOL TRUST CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2021 Total 2021 Total 2020 Not8S Cash flow8 from operating activÈtloS Net C88h proiided by operating 3,698,127 3.114,482 Cash liows from inve81ing a¢tlvltl6s Interest and inve5tfflent in¢ome re¢eNed Proceeds from sale Oft8￿1b1￿ ffxed assets Payrnenl for tangible fixed assets Capital gran￿ from DIE 25,856 48,603 21,565 12.S19,2111 4.934 12,702,955) 4,979 Net cash Us￿1 in Investing 8Ctiwttes 12,672,120> {2,444.109) Cash flows from financlng actlvltles Repayment ol bank loans Repayment of finan￿ leases New Compo￿110￿ fee5 Composition fees utlSised 1508,921 1136,6791 1,305.135 11,75S,6291 1495,8821 182,7561 1,796.815 12,098,203) ,096,0941 1879,8261 Change In cash and cash equlvalènts IE) the reportlng p8rlod Cash and cash Bquivalents at th beginni￿ ol tho reports￿ period 170,0871 1209,4531 8.314,99£ 8,524,449 Cash and cash equlvalents atthe end of the reportillg perlod 8.244,909 8,314,9 The nol&s on pages 21 tD 42 lorm part of Ih888 financ￿1 Statements. Pagts 19 NEW HALL SCHOOL TRUST CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2021 Reconclllation of not Income to net eash flow from operating aetlvltles Total 2021 Total 2020 Ng1 income Nellossgsllgainsl on Investmen Depreciation char98 Profit on dkswsal of tangibl6 assets Capital grants from DIE and other capital Income FRS 102 pension cost less contributions payable FRS 102 pension finance c05t Investm8nt income D9￿ease1[1nCreaseI in stock8 D6creaselllncreas&l in debtois Increas8llDecreasel in ci8dilors 1,028,223 556,443 2,394 2,383,681 11,0891 2,262,140 121,5651 14,9341 20.0(K) 3.0(K) 148,6031 15,2671 746,079 1391,7221 14,9791 28,000 3,000 125.8561 1,035 251,073 31.556 2,669,904 2.558,039 Net cash provlded by operating aetlvltles 3,698,127 3,114,482 Analysis ol chang&8 in n•t debt Nonst at thal ijate based on v8luah.ons determined by the trustees a8 at that date wth profesgonal as5l5lan￿, based on their Iyen mErket value for existing use. All assets puichased after 1 Augu8t 2(K)5 ats shown on the balance sheet at cost. Tangible assets are derecognised on disposal or when no future e¢onornic benefits are expected. On disposal, the dIfferen￿ be￿￿n the net disposal proce8d8 and the carrying amount 15 recognised in inwm8 receipts in the rdevant yeai. Impairment Temews are carried out as and whsn evId￿)ce comes to lightthat the ￿coV8[able amount of an a8sg1 is below Ils net book valu& due to dsmage. obsolescgnce or other relevant factors. Ir the recoverab1o amount Is estimated lo bg Iow8r than the carrying wnount, the carrying amount Is rèduced to its re¢oveiable smoL¢nt and an irnpaiitnent ltsss is re¢ognis8d in the SOFA. Freehold land and bulldlngs u￿th the exception ol Iremahold buildings under con81rvction and land, n8ilh8r of which ale depre￿￿ted, buildings are depreciated at a rate 012% per annurn on a straight line basls or dep￿lated over their estimated useful lif& whe the building 18 classed as a temporary 51ruclure. Modifications to existing buildings are depre¢iated over a 15 year period on a straight Ilne basis in Ordgr to write the modifications off over their estimated useful life. + Flxturos. furnituro and pqulpment Fixtures, fumiturè and equipment are capitalised and d8P¥8ciated at a rate ol belween 10% and 33,33% por annum on cost in ordor lo write off each asset over its estimated usoful life. Motor vehl¢le8 Motor v8h￿leS are capilalised and depreciated at rates of b8lwoen 20% and 25% per attnLtrn LY) ￿$t in order lo write off each asset over its esumated usefvl lifg. INVESTMENTS With the ex￿p11￿ of investments in subsldiary companies, investrnents artr included on thè balance sheet al th8ir matk8t walue at the of th8 financial year. Rgalised ar￿ unrealised gains lor losses) are uedit8d {or d8bitedl to the SOFA in the p61iod in which they arise, 18ss impairment. Inveslmenls in subsldlsry compani88 are included In the financial statemenis at cost. STOCKS Stocks ol misc811anoous supplies ar8 valued at the IDw8r of cost 8ThJ net realisatA& value. FUND ACCOUNTING The p8rfflane14t endowment fund comprises freehokl land and bulldings gifted lo the Tiust by The Regular Csnonesses ol the Order of the Holy Sepulchie DI Our Loid for use in the furtherance ofthe Gharity's 0￿.8¢tIVes. The fund is redU￿d @ach year by the depreciation attnbutable to the underlylng bulldings. The gen8ral fund COM￿lse$ thos8 moni8s whid) may be used towards me@ting th8 charftèble obleclive3 of kn chatity aThJ which may be applied at tha discretion ol the trustees. Tho designated fund compri88$ Untestrscted funds ollhe chaftty whlch hav9 been d88ign8ted by the Truste88 for particular purposes consistant with meeting the charitable objectThl8s of the ehariÉy. Th8 r8Strfcted funds aro monies glven foT, and their use restricted to, a specSflc purpose, or donations sU￿e¢l to (lonor imposed conditl¢m8. Non-charitable trading funds eonslsl of the r8talnèd profits or accumulated IDss&s Of activid8g conducted through non- charitable tradlng subsidiartes. Page 23 NEW HALL SCHOOL TRUST PRINCIPAL ACCOUNTING POLICIES {CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 FINANCIAL INSTRUMENTS BBsic finanaal instruments are initially recognised at IransactSon value a￿1 subsequèntty measured al arnotbsed wst. F4nancial ass8ls cornprisè cash at bank and sn hand. together wath trade and other dgblors. A speclfio provision is made for debts for which recover8bllty is in doubl. Cash at bank and in hand is d8fined as all cash held in instant acLess bank accounts and usèd as working ca￿tal Investments, exduding those in subsidiary un(ÈrtakirKJs which are held al cost, are held at fair value at thè Balan￿ Shegt date, with gains atKI 10888s being recogniS￿l within income and 8xpènditure. Flnancial liabilities hold at arnortised ¢osl compris8 all creditors ex¢8Pt 50ci&I security and olhgr taxes, deferr8d income and provislons. Assets and liabilitie5 held in lor8ign currency are translated to GBP at the balanc6 sheet dale at an appropriate year end exchange rat&. LEASED ASSETS Assets tFndef finance leas8 agr88mènts are capitalsed and disclosed under tanglble fixed assets al their fralf value. Th8 Gapilal @lement of the future paymont is treated as a liability and the interest ¢harg8d to tho SOFA ￿ a straight line basis. Under op8r8ting leases, th8 les8or effedively retain8 $ubstant4ally all ol the ri8k8 and rewards of ownet5hip. The rentsls are charged on a slraight-line basis ovet the lease lemi. PENSION COSTS The Charitycontrfbuies lo theTe8chèrs' Pension Dofin8d B8nèfits Schem8 al rat88 setby the Scheme Actuary and advis8d to the Board by the Scheme Administrator. Contributions are charged in the period tn whith the Sa1￿￿&S to which they r81ate are payablg. The schetne is a multi-8mployer pension schetne and it is not possibl8 to identify the assets and Ilabililies of the 5c.heme on a Consistent basis and therefore, as required by FRS102, the Charity accounts for scheme as il it were a defined Contribution sch8m@. Conlributionts are paid, in tsspect of support staff of the School, to the Standard Life Stak8holdèr Pension Schem6, 8 defined contftbution schemo. Contribut(ons are ch3rg8d to expenditure when falling due. Rètirement ben8fits to non-teaching staff ol New Hall Mulli-Acad8my Trust are providgd by the Local Government Penslon Sch8m6 I'LGPS'I. This is a defined benefit schema and the assets are h81d sèparately from thosè of NHMAT. The LGPS 13 a fvnded scheme th8 assgts are held separately from those of th8 acadetny trust in separate trustee 8dmlnistered funds, Pensio￿ 5themÈ assets are measured al fail va5ue and liabili118s are meaSU￿d on an actuaiial basls using the pro1￿1¢d unit cr8dit method aN¢ discounted at a rate equivalent to the Guirenl iat8 of return on a high qu8lrty corporate bond of equivalent term and currency to tho liabilits"e5. Thè actuarial valuations are obtained at least triennially and are utdated al 6ach Balan￿ Shoetdate. The amounts ch8rgEd to operating Su￿1￿5 are the currer¥l costs and the costs ol schem8 introduetions. benefit change5, Setllem8ntS and curtailmenis. They are inGluded as part of staff costs as incurred. Nel interest on the netdefined bengfil liabilitylasset is also recogni$ed in the SOFA atKI cofftpr15es the inler88t C05t on the defined benefit obligation and interest incomg on the scheme assets, calculated by rnulliptying the fairvalue ol the schème as56ts at the beginning ol the pEiiod by tha rate u88d to discount th8 benefit obllgalions. Th& differen b8iw8en the inl8re$l income on the scheme assets and Ihg actual return on scherllé assets Is rg¢ogni8&d in other nised gains and105s88. Actuarfal gainB and 108ses ale recognis&g imm8diately in oiher recognised gains and losse$. Page 24 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 INCOME FROM INVESTMENrs Mulli academy slricted fund Unr8Strict8d funds Restricted funds Total 2021 Total 2020 Inv88trnent income Interest receivablè 1,769 21 1,769 24,086 2,267 46.336 24.Q24 41 24,024 1,790 41 25,856 48,603 SCHOOL FEES AND OTHER CHARGES Multi academy restrlGt¢d fund Unrestricted nds R8sthcted funds Total 2021 Total 2020 Gross fe88 Less.. Bursar￿8, 5cholarshlps and other iscounts Add baGk'. SchcTrlarships arKI bursaiiès pald for from Restricted Funds 24,142.288 24,142,288 24,421,995 12,378,169) 12,378,169} 13.268,5501 20,163 20.163 42,846 21,784,282 919,924 21.784,282 21.196,291 919,924 1.124,230 Other sthoc4 ¢harg&s 22,704,206 22.704,206 22.320,521 FUNDING FOR EDUCATIONAL PURPOSES Multi academy restricted fund Total 2021 Total 2020 DfEIESFA revenue yranls.. General Annual Grant IGAGI other DE￿sFA Gr8nts Othgr govèrnment grants: Local authority grants COVID.19 addltional fundlng IDfEIESFAI: catch.up PretnÈutn 445,109 82,968 A145.109 82,968 421,050 54,595 27,755 27,755 54,164 2,930 2.930 558,762 558,762 529.809 4 OTHER INCOME Duiing 2020r21, the Charity received £218,118 from the Govemrnent Coronavlrus Job Retention Schgme 12019120 £673,200>. 6 EXPENDITURE ON RAISING DONATIONS Multi gcademy restricted fund Unr8Stricted Restricted funds funds Total 2021 Toial 2020 Fundiai5ing expens88 40 424 464 951 Pag8 25 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 EXPENDrruRE ON TRADING: COST OF GOODS SOLD AND OTHER COSTS Multi academy rèstiicted fund Uniestrlcted Restricted funds funds Total 202q Total 2020 Trading expenses 210.455 210,456 338,913 7 PROVISION OF EDUCATION Multi academy Teslricled futKt P&mianent endowment fund Unrestricled fuThJs Restficted funds Toial 2021 Total 2020 Teaching Welfar8 Premk5es Support ¢o$ts of Schooling 9,447,212 2,250,5 6,860,727 3,157,320 20,163 2,579 421,672 9,889,047 2,253,085 6.949.101 3.386.464 11,8S9,020 2,167,653 5,676,254 3,339,042 88.374 1.841 227,3(K) 21,715,765 24.583 648,972 88.374 22,477,694 23.041,969 stoff Depreiaallon S ¢￿ts impairmént Other costs Total 2021 Totsl 2020 TeachlTrg Welfare Piemlses Support Costs of8chwhng 8,626,301 1,414,993 1.300,808 1,240,204 337,987 48,250 1,933.522 63,9Z2 924,75S 789,842 3,714,771 2,082,335 9,889.047 2,253,OB5 6,949,q01 3.386.461 11.859,020 2,167,653 5,876.254 3.339.042 12,582,306 2.383,681 7,511,707 22,477,694 23,041,￿9 GOVERNANCE INCLUDED IN SUPPORT COSTS Multi academy reslrict8d fund Unrestrieted funds Restricted funds Total 2021 Total 2020 ReMUnera￿On paid to Auditor for audit ol the Charity's finanaal statements Fees payab18 to th8 Auditorfor other serwees.. Audit relatèd assurance servi￿8 Audit ofthe finall￿al statements of subsidiarigs Tax compliance seN1￿$ Olhei 8dwsory services Govemors, training aftd 6XFenses Other govemance cost8 24,6(X) 24,600 20,600 1,050 1,060 1,050 3,050 1,9( 1,500 730 18,83e 3,050 1,900 1,500 730 24,586 3,050 ff,840 1,612 20.817 5,750 51,666 5,750 57rt16 48,969 Page 26 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 g STAFF COSTS TDtsI 2021 Tot81 2020 staff Costs during the year were a8 follows.. Wages and sdaii&s Social security oosls Other pansion costs Ise& note 221 D&finod Benefit Scheme5 Defined Contributlon Schemes Lif8 assurane8 9,586,350 9Q8,246 1Q,895,717 999.761 1,232,236 132,864 1,130 1,313,227 139.729 7,133 1.366,220 1,460,089 11,859,816 881,842 1756 41,4a4 13.355,567 632,644 Contract cateriro staff costs Supply teacher c05ts- NktMAT othèr staff ￿Lated costs 42,305 12,582,3Q6 14.030,516 The average number of ernploy88s. èxcludlng contract cateting Staff, analy8ed by function during th8 p8ttod was as follows.. Total 2021 Full Ilme Equivalent number 16 25 Total 2020 Full li EqulvalEnt nutnber Total 2Q21 Actual number Total 2020 Actual number 294 36 se 60 Group Teaching Welfar8 Premises Scho(A admlnistratlon 283 44 66 58 188 27 47 43 281 451 305 446 The key Inanagement pèrsonnel of group compri8& th8 Iwstee5, the Piincipal and ExeGUtive Head & Acwunting Offic8T. Headteacher INHMATI, Depuly Princip81, Vice Principa18, Head of Finan￿1chief Financial Offi￿r INHMATI, Estate Manager & Health & Safely Co-(Frdinator, Head ol HR, Heads tsf Divisions, Diredors of Learning and T8aching, Eead of Thèology and Executive Assistsnl & Clptk lo Governors. The total employee benefits olth9 key management personnel ol Ihe grOupWe￿ £1.591,68612020- £1,708,580). TIE nutnber of employees who earned £60,000 or mor6 linc1￿ing taxable benefits bul gxcluding employer p8nsion conlributionsl durlNJ the period was as follows.. Total 2021 Numb&r Total 2020 Number £60.000- £70,000 £70.001- £80,000 £80,001 - f90.000 £90.001- £100.000 £100,Q01- £110,￿0 £220,0ts1- £230,000 £250,001 - £260.000' 'Employerfs pension contributions are t8ken as 58lary for part ol the year and so the figure $lated18 in¢lu$iva of thL%. These 8aming8 aTe gtstèd prior to dot)ation ol salary of £27,520 tnath to the School, Payroll Givtng. lowards the pandemic emergency hardship fund. Follo￿ng a ￿$trudUring process, termination paymanls tolallng £30.10212020- £325,413) have b88Tr made. Th8 full liability due has been included in th&s8 finarrial statem8nts. Page 27 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 10 TRUSTEES, REMUNERATION No trustse or goveTnor iecENed any rernuner8tion in ￿Spect of these voluntary servlces during the year from eitrer the charity or the group12(Y20 - none). £73012020- £1,051) was leimbursgd to four tiustees {202Q fiv81 for trav61 and incKlentsl exwnses incurred in the eourse of their duties dtEring the yèar. The genera5 in8ur8nce policy of tl charity in¢lude5 professional indemnity insLiranee, whith I￿lUd0$ covar for the PErsonal liability of trustees. The premium paxl in 18sp8ct olthis coverts not idonlified separately. During previou5 yèar120201. a donalion of 8&1ary of £27.520 was made to th8 School, via Payroll Givillg. by one of lh6 governors Ith8 Piincipall, lo assist with th8 pand8mic emergency hardship tund for students and with staff r818nlion, given sudd8n loss of ineome from fees dug to th8 pandamiG. The P¥in¢ipal was appoint￿1 to tho board of gov8rnors 1 July 2008, in accordan￿ with the Memorandum and Articles ol AssoThalion,' no payment was weiwed for goveinancè work undertakgn Ihioughout th8 yèar12020- £nill. During the year, salary paymnt8 were made in accordance with fhe co#traGt ol employment for soryices as PrineApal of New Hall School11,329 studenls, aged 1-18., 320 staff) and Executive Head & Accounting OffI￿r of NHMAT185 puplls, aged 4-111. Due to the pandemlc, thg salary was frozan at £214k12020 £214kl'. standard TPS employers pens*tsn contribut￿n$ of £26k w8te madè Ipart taken as salary in 20201. Benefils in k*nd were £12k12020- £12kl. 11 TAXATION New Hall School Trust is a 18gisleied Ch￿￿ty and, therefore, 18 not liable lo income tax or cOrporat￿n tax on incc¥ne or gains d8riv8d fmm I￿ Charitable activitie5, as they fall within the various 6xemplions availablo to iegisterad harib"es. 12 TANGIBLE FIXED ASSETS Grounds Improvem9nls a bU1￿1ng3 under construction Ftxtures, furniture and equipment Fr88hold land and buildings Molor vehides Totsl GROUP Cost or valuatlon At 31 July 2020 Additions Diswsalsl Reclassilicalion 31,176,724 1,706,828 119,914 815.450 6.714,103 310,793 1152,5011 126,060 34,56fJ 38,136,801 2,867,631 1162,5011 92e,364 1926,3641 At 31 July 2021 33,809,916 9.000 6,872,395 180,620 40.851.931 Cost Valuation {2(K)51 27.809.916 6,000,000 9.000 6,872,395 160,620 34,851,931 6.000.000 33,809,916 9,000 8,872,395 160,620 40,851,931 D•preclation and Impalrment At 31 July 2020 Disposals DeprecsaFion 7,984.996 5,390,765 1152,5011 561,144 86,780 43,462,541 1152,5011 2,383,681 1,804.245 18,292 At 31 July 2021 9,789,241 5,799,408 105.072 15.693,721 Net book value8 At 31 July 2021 24.020,675 9,000 1.072,987 5S,548 26,158,210 Al 31 July 2020 23,19fj,728 119,914 1,323,338 39,280 24,674,260 Page 28 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 12 TANGIBLE FIXED ASSETS ICONTINUEDI Grounds imwovsmènts & buildings undeT construct(on Frxluies, rurnitu and equiwenl Freèhold land and buildings Motor hi¢bs Total CHARITY Cost or valuatlon At 31 July 2020 Addit￿￿9 Disposals RerJa8811ication 29,841,355 1,$90,236 119,914 815,450 6,612.832 310,792 {152,5011 126.060 34.560 36,70D,161 2.851,038 1162,5011 926.384 1¥26.3641 At 31 July 2021 32,457,955 9,000 6,771,123 160,620 39,398,698 Cost Valuation12Q051 26.457,955 6,000,000 g.000 6,771,123 160,820 33,398,698 6,000,000 32,4 Jf7,955 9,C4)0 6,771.123 160,620 39,398,698 Deprpciatlon and Impalrment At 31 July 2020 Dispthsals DBpreciation 7,869.151 5.309,828 1152,J011 554.4fj4 86,780 13,265,7S9 1152,5011 2,338,692 1,765,936 18,292 At 31 July 2024 9,635.087 6,711,791 105.072 15,454,950 N•t book value8 At 31 July 2021 22,822,868 9,OiKI 1,089.332 55,548 23,946,748 At 31 July 2020 21.972,204 119,914 1,303,(X)4 39,280 23,434,402 Th8 ch8rity's freehold land and buikjings are sthj8Ctto a leoal charge in f8vourolthe Charity's bankgrs 8s seeurlty forbank loan8 (see note 161. They are al$0 subject to restrictive (x>venants relating lo their future disposal. FiKtures. furniture and equipment includos assets under finan￿lease at net boDk valu& £162,825 and depreciation cha￿e for Ihs year£136.81512020.. £221.617 and £110,808 respectivelyl. Future ¢ornmitments are included in creditors amounts due within on6 year of £137,127 atKI aftor one year£53,88512020'. £110,704 and £138.9651. During the year, an impaitmènt ol£nil12020.. £599,9)41 has be8n recoidad forgrounds impiovemenis and buik1ings under construction whlch wll not go ahgad. The assets were wrilttrn down to thgir e8tWll8t8d value-in-use ol £nil. Capital eommltments At 31 July 2021 ihe group and charity had the following capital commitments., Total 2021 Total 2020 Charity and Group Contract8d t￿( not provlded for.'- Plant ar)d machitL8ry Ground improvgrnent8 582,217 582,217 Page 29 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 13 FIXED ASSET INVESTNIENTS Llstsd Inve$tmont Group Mark8t value at l Augu8t2020 N81 unreallsed investment liossesl 53,757 12,3941 Ma¥ket value at 31 July 2021 61,363 Historic￿ cost ol investments at 31 July 2021 47,577 Shar88 In subsidiary company sted inve5knents Total Charlty Markel vaSu8 al 1 August 2020 Net unroalised inve81mgnt Ilosse81 53,757 12,3941 53,759 12,3941 Market value at 31 July 2021 51.363 51,365 Cost of investments at 31 July 2021 47,577 47,579 Shar•s In subsidlary company At 31 July 2021 New Hall School Trust owned the entire called up share (xpilal of New Hall School EntGiprises Limitgd. New klall School. The Avenue, Boreham, CM3 3HS, a company iTrcorporated in England INo.3fJ216881 and caTrylng out CDtnm&rcial (rading 8Ctivilies, including lettlng ol ￿UcatIonal and sports facilities. Charlty A summary of the results 01 N8w H811 SGhool Enterpri$6s Llmited for th8 y8ai 8ndèd 31 July 2021 is given below. Awli18d financlaS sla18m8n18 wll be fI￿d with the Registrar of Cofflpanies. Total Total 2021 2020 Profst and loss account Turnover Cost olsales 178,S30 1203,1631 357,821 1276,4951 Gros$1105sllprofit Adminislialivè expenses 124,6331 17,2921 81,326 154,5691 Net profit (net incom81 Rent and s8pAces paid to school 131,9251 26,757 149,0001 (Lossllproht for the year before Gift Aid Arnount donated to New Hall School Trust Gift Aid 131,9251 122,2431 Retained110851 for the finanaal year 131.9251 122.2431 The as5eis and lEa￿lI￿8$ ol New Hall School Enterprises Lirnited were as follows.. cuf￿nt assets Cu[￿nt lIa￿lit￿$ 90.643 1142,2781 117,938 1137,648} Total net IliabllMesllasset8 151,6351 119.7101 Shat8 Capital and reserve5 161.6351 119,7101 Page 30 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 13 FIXED ASSET INVESTMENTS ICONTINUEDI Turnover includes £68,001 in respect of comtlli55ion charges to the School12020- £150.4911. Al 31 July 2021 the total capital and r88erves of New Hall School Entsiprises Limited amounted to £{51,635112020- £{19,71011. New Hall Multi-Academy Trust I'NHMAfi is an exempl tharily 18gulat8d by the Secretary of State for Education through the Education Funding Agency, and a company limited by guarantee, Incorporated in England (No. 86438811 on 8 August 2013. Its charitable purpos8 is thè advancement of education. ￿11$1 its as88t8 are not wholly owned by New Hall School Trust, the charity doos exercise control over ils 8ff8itS 8nd its a¢(xJunls ala therefore consdid8ted with thobe tsf ihe charity. NHMAT operates Mossing Pritnary S¢tnol as an academy. A Summary of the results of NHMAT for y8af ended 31 August 2021 is giv8n balow. Audited finarEBlal statements will bè filed with the Rogistrar of Companies. Total 2021 Total 2020 Total inc(xne Totsl expendituie 603,781 1649.3971 565,45rJ {e02,8371 Net lexpendrturè)lincome forth& yèar Actuarial loss on deflned banefit rAnsion scheme 146,6161 131,0001 137,3871 117,000} Nat movemenl in fund8 176,6161 154,3871 The assets, liabillties and fvnds ol NHMAT were as follows-. Fixed assets Cuir8nt assets c￿r￿nt liablllttès Defined benefi't penslon scheme liability 1,211,461 224,584 140,9381 1276,0001 1.239,858 232,￿3 162,1981 1214,C4)01 Total net asset8 1.119,107 1,195,723 Funds.. Total reslri¢t8d fund5 Unrestricted income futKI 996,589 122.518 1.108,483 87,240 Total funds 1,1 q9.107 1,195,723 14 DEBTORS Group 2021 Charity 2021 2020 2020 School fees and relalgd charg85 Atnount due from subsidiary company Sundry d6btots Prepaym6nls and accrued incoThe 649,837 299,599 549.837 73,513 11,211 181,214 299,599 118.413 22,355 668.273 16,049 202.938 28,000 892,299 768,824 1,019,898 815,775 1,108.640 Pag8 31 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2021 16 CREDITORS amounts falllng du8 wlthln one year Group 2021 Charity 2021 2020 2020 Bank loan8 (note 161 Trad8 ¢r6ditors Taxation and social securily Oth9r credito[8 and accruals Finance le8se Tuitian fees re¢eived in advanco Reluinable fee deposits from pupls Composition fees s¢hÉme (note 171 532,213 702,7 249,316 1.796,068 137.127 602,842 1,327,653 805,891 517,223 345,987 248,796 1.818,204 110,704 820,439 1.327,040 1,173,996 532.213 666,970 232,666 1,760,679 137,127 602,842 1.327,653 805,891 517.223 317,499 239,417 1,783,892 110.704 820,439 1,327,040 1.173,9 6,153,906 6,362,389 6,056,041 6,290,210 18 CREDITORS amounts lallltig due after more than ong year 2021 2020 Charlty and group Bank loans (see below) Finance lease Composition fees schetne Ino(e 171 1,663,343 53,885 496,126 2.187.254 138,985 578,515 2,213,354 2,904,734 Tho charity and group have four bank ltsans secured by wsy of a fit5t legal ¢harg8 over th8 ch8rity's freehokj land and buildings and assoaaI￿ a888ts. Loan terms and repayments ar8 as follows.. At 31 July 2021 At 31 July 2020 Charity and Group Loan 1 Loan 2 Loan 3 Loan 4 After 5 yeas Wtlhin 2 to 5 years Within 1 to 2 years 72,895 280,881 ?1.679 72.896 1,059,332 531,116 393,417 1,269,157 524,680 24,838 158,626 12.127 29,010 741.486 251.801 183,464 156,882 445.455 98,754 41,137 28,671 993,287 247,906 1,663,343 532,213 2,187,254 517,223 thin l year 340,346 544.209 69,808 1,241,193 2.196,556 2,704,477 Intsr¢sl rate Base rale plus.. 0.95% Septemb¢r 2010 August 2030 0.95Y February De￿Mtser 2013 2010 January Novembgr 2033 2030 1.35% Novgmb8r 2013 October 2033 RepaymEnts commenced Final repayment Pago 32 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 17 COMPOSITION FEES SCHEME Parents may pay to the S¢hool up to the eqU[va￿nt ol seven years. tuilion f88s in 8dv8nc8. ThÉ money may be returned subject to specifjc conditions on the raeaipt ol one term's noti￿. 2021 2020 Charlty and group At 1 August 202CI New contracts Fees pahj Discount alknwad 1,752,S11 1,305,135 11,778,713} 23,084 2,053,899 1,7￿,615 12,126,7591 28,556 At 31 July 2021 1,302,017 1,752,511 Assumlng puplls wlll remain in the School tho 198s will b8 ap￿led a8 follow5.. After 5 years Imthin 2 10 5 years thin 110 2 y6ars 20,695 230,137 245,294 39,524 215,076 323,915 496.126 805.891 578,515 1,173,996 vifithln on6 year 1.302.017 1.752,511 18 PERMANENT ENDOWMENT FUND 2021 2020 Charlty and group At 1 August 2020 m0￿Ment in fund lor the y8ar'. Depreciation charge 3.093,097 3,181.471 188,374 188.3741 At 31 July 2021 3,004,723 3,093,097 The permanent endowment fvnd Comprises freehold land and buildings gift8d to the 8cIK)ol on 1 August 2005 by The Regular Canon8sses of the Ord8r of th6 Holy Sepulchre ol Our Lord, for use in the fUrtheTan￿ of the Cha￿ty,5 objectiV6s. The fund is redU￿d each year by the depreciation attrlbutable to the undertying buildings. 19 GENERAL FUND 2021 2020 Group At l Augu812Q20 Inc(¥n8 Expenditurp Gains, bsses transfers q8,729,771 23,100,587 121,926,220) (21,3381 16,264,263 23,334,606 122,616,756) 1,747,658 Al 31 July 2021 19,882,800 18.729,771 Charity At 1 Augu812020 18,749.483 16,261,733 22,990,058 23,178,278 121,795.6041 122,445,439} 19,5001 1,756.913 Incotne Exp8ndituie Gains, Ios8es and transfeis At 31 July 2021 19,?34,437 18,749.483 Page 33 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 20 DESIGNATED FUND The iii¢ome funds of the ch8rlty Incl￿16 the followiro desvJnated fund, which has been setaside out of unreslrit8d funds by the Irusl8&s for speafic purposes. At 31 July 2020 Gain3, losses *)d transfer5 At 31 July 2021 Charity and group Incomg Expenditur8 Building d8v81oprn8nt fvnd 1,519.466 1,519,466 Buildlng development fund.. Donations received In wevious years frcm the Canone8se8 ofth6 Holy Sepulchle have been set aside to help fund planned futur8 building prqects. During year, £nil {2020.. £1,770.6221 was transferred to the Gelleral Fund to fund the building of the New Hall Nursery. 21 RESTRICTED FUNDS Thg itKome funds olthe charity incSude restricted fvnds comprlsing the following ur￿xpend￿d balances tsf donatictns and grants held on trusts to be appl￿d for spe0f￿ purp05es'. Charlty Galn$. losses and transf6rs At 31 July 2020 At 31 Juty 2021 Income Expenditurè S¢hol8rshp funds Other restrited donations New Hall Voluntary Services New Hall Associatltsn 56,865 1.789 18.357 6,543 33 11,8061 118.3571 12.6191 11,8411 12,3941 54,434 21,898 53,251 9,500 35,322 51,443 132,014 26,702 124,6231 7,106 141,199 NHMAT funds General Annual Gmnl IGAGI Start Up Grant8 other DfEIESFA Gran15 Pupil Pr8mlum Local authority grants Other rg8lricted funds". Pension I￿rve Fixed 8S5ets transferred on conversion Capital expenditure Unrestricted funds 11,197 eo,252 6,486 4,690 445,109 1437,7531 116,5921 153,7161 129,9(YJl 130,6851 111,6131 6,940 43.660 S,838 4,690 53,068 29,900 30.685 1214,0001 1.027,124 212,734 87,241 131,0001 115,7191 129.2701 14.7611 131,0(A)1 I278,￿0) 1,011,405 200.056 122,518 4,979 28,2QO 11,613 11,838 1,195,724 591,941 1649,3961 lff9,1621 1.119.107 Total Charlty and group 1,327,738 618.643 1674,0191 112,0561 1.260,306 The sp8afic purrx)ses for which the fund8 hekj al 31 July 2028 are to b6 applied are as follows.. • Scholarshlp funds Monies re￿Ived toward$ th8 fvnding atKI payrn8nt of scholarships and schoril prizes. Other re3trtctgd funtfs Donations rec8iV8d to SUPF)Ort Hardship Bursary awards. Page 34 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 21 RESTRICTED FUNDS ICONTINUEDI New Hall Voluntary Services Moniès received Include donauons to b8 applkd to various charities and towards the prDvlslon of community lundps and an annual summerscheme br deprived thildren. Due to the p3ndemic- Cov￿-19, nol all ptanned aclivitieb took pla￿ during this y8ar. New Ho11 Assoclatlon (Old Fl$hg$1 Monies received to b8 applied to maintain contact with formerstudents of New Hall Scl)ool and lo promote the aitns of the School. • NHMAT fund¥ General Annual Grant IGAGI grant fund - Funds received from the ESFA under the G￿ra1 Annual Grant arrangements for the r8¢urrent expendlture of Ihe School as d8fined in the Funding Agre8Fn8111. Start Up Grants- Th18 represents one off fvndK*g ¥@ceived Iiorn the ESFA toconlribute toth6 Costofsetting up thè Multi Academy Trust ar￿ 10 5UPPOrt the acadÈmy following the transition to academy 81atus. Other DfEI ESFA grants - Other govemNent grants received for restri¢tsd educational purposes not forming part of General Annual GrAnt. Local authority grants Grants r9(￿1v8d trom th8 local authority received for restrleted educational purposes. Pupil Prerniutn - Funds r8ceived fram th8 ESFA under the Pupil Premiurn gratEt arrangements for Ihe recurrent 8xpenditure ol the School as defined in Funding Agreem8nl. Pens50n reseNe- The pension resèrve recognises the deficit ol tre local government pension 8chemg. + The putpose of the Re5frf¢ted Fixed A8set Fund 18 lo hold the Academls fix8d 88s8ts 18corded net ol dapreciation. Included in the abovg are transfers behveen capital exp8ndttur8 arKI GAG. These Iransf8rs represent the trust using GAG monies forcapital items. 22 ANALYSIS OF NET ASSETS BETWEEN FUNDS NHMAT Pemiangnt restricted endowment funds fund General Da51gn3ted Restrlctod fund fund fund8 Totsl funds Group Fund balance$ at 31 July 2021 are representod by- Tangible fixed assets Fixed as5el investmènts Ngt cuiient assets Creditors.. ￿0￿nIS falling du8 after mor& than on& y88r PenS￿n s¢herne liability 20,942,026 1,211.461 3.004,723 2S,158,210 51,383 2,947,076 51,383 89,836 1,154.128 1,519,466 183,646 12,213.3541 12,213,354) 276,OODI 1276,ODOI Total net as&8ts 19.882,800 1,519,466 141,199 1,119,107 3,004.723 25,667,295 Page 35 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 22 ANALYSIS OF NET ASSETS BETWEEN FLINDS ICONTINUEDI Permanent General Deslgnated Re8tricted 8ndowrnent nd fund funds fund Total funds Charlty Fund balances at 31 J￿lY 2021 are represented by.. Tangible fixed ass&ts Fixed asset investmènts Net current assets CiedStors'. amounts falling due after more than 0￿8 y8ar 20,942,025 3,004.723 23,946.748 51,365 2,815,066 51.383 89,836 1,205,764 1.519,468 12.213,3541 12,213.354 Total not agsèts 19,934437 1,619,466 141,499 3.004,723 24.599.825 23 PENSION COMMITTrAENTS Teacher8, Penslon Dèfined Beneflts S¢heme The S¢hool and th8 Multi-Acadamy Trust participate in the Teachers, Pension Scheme l.the TPS'I forth8irt&achlng staff. The pension chaige foT the year ineludes contributions payable lo the TPS of £1,180.23612020.. £1,269,819) and at the year-end £8,42212020- £147,598) was accrue(f in respect tsf conliibution5 to this scheme. The TPS is an unlutKled tnultl-employer defined be￿fitS p8nsion scheme govern￿ by th8 Teachers. Pens%on Regulatv)ns 2010 las amerKl8dl and the Teachets. Pension Scheme Regulations 2014 las amend￿1. Mernbers contribute oll a 'pay as you go. basis with contributions frtsm members arrfl the employer belng credlted to Ihe Exchequer. Retirement and other pension b8nefits are paid by PLiblic funds provided by Partiarnenl. The etnployer ¢onlribution rate & s6t following scheme valuations vndertaken by the Governmenl Actuary's Departmont. The Lotest acluarial valuation of the TPS was prepa¥ed as at 31 March 2016 and the valuation report, which was published in March 2019. confirmed an etnployer contribution rate for the TPS would incr8asè from 16.4% to 23.6% from fj Septernber2020. Employers are also required lo pay a scheme administration fee ol 0.080 glvlng a total employer contribution late of 23.6￿. The 31 March 2016 V8luatlon Report was prepared in accordanoa with the bengfits set out in Ih8 sch8rn r8gulatsons and under thg approath specified in the Dire¢lions, as th8y spp118d at 5 March 2019. However, the assurnph.ons were considered and 891 by the Oèpartment for Education priorlo the iullng In thè'McCloud/Sargeant C38e'. This case ha5 requsred the courts to consKl8r casé$ regarding the implementation of the 2015 refottns to pU￿1C sew￿ Pensions ineluding the Teachers, Pensions. On 27 June 2019 the Suprem9 Courtdenied th8 government permk%sioTh lo appeal th8 Court tsf Appeal's jud9n￿nt that transitional provisions intfoduced to the relorffled pension Schemes in 2015 gave rise to unlawful 8g6 diseriminatlon. The gov(atnment 18 respecting the Court's decision and has said il ￿1[ engage lulw wilh Ihe Employm8nt Tribunal as well as empk)yer and member ￿prOsentatIveS to 8gr8& how the discriminatsons wll be remedied. Th8 govemment announ¢8d on 4 February 2021 that il intends lo prac88d with a d8f8rred choice underpin uThJ8rwhich rnembers will be able to choose 8ither ￿gacY or refomied scheme l)enefits in resp8d of fh811 8enrtc6 dur¢ng the period b8tWg8n l April 2015 and 31 Marth 2022 at th8 point th8y become payable. The TPS is 5u4.ed to a cost ¢ap mechanism which was put in pla￿ lo protect taxpayers against unforeseèn changes in stheme ¢osts. The Chlef Secretary to the Treasury, havlng in 2018 announced that Ihere would be review ol this cost cap mechanism, in January 2019 announced a paiE5e to the eost Cap mechanism following th6 Court of Appeal's ruting in Ihg M¢CloudlSargeant casé until the¥e is certainly about the value of penslon5 to ployees frotn April 2015 onwards. The pause was lifted in July 2020, and a consult8tion was launchèd on 24 June on proposed changes to th8 coslcontrol mechanism followirbg a FeMEW by the GDvemment Actuary. Followng public consultation. th8 Goveintnent have a¢¢Épted ihr88 key proposals recommended by the Gowernm8nt Aiauary, and ar8 aimlng to implement these ¢hang65 in time fDr thE 2020 valuations. In view of the above rulings and decision5 the assumptions used in th6 31 Marth 2016 A¢tuarial Valuati(Kl fn8y become Inappropriate. In this so6nario, a valuatson prepafed in a￿￿dance wllh revised benefits and suitably revi88d a85uniptions would yield diff8r8nt results than those 0)ntal￿d in the Aduar¢al Valuatton. Page 36 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 24 PENSION COMMITMENTS ICONTINUEDI Until th8 cost cap tnechanism revision is comp18ted it is not wssible to condudo on any fiRanclal impact or future changes to the wnliibution rates ol the TPS. Accorditwly no provlsion for any ￿dItional past benefit pension ¢osts is included in these financial statements. This employer rat8 wlll bè payable until the outcome of tIE next aGluark?I vakjation, which du6 to be preparal as at 31 March 2020 and cornplètèd in 2022, with any resvlbng changes to the employer raie 8XP8Ct8d to take effect from I September 2023. This valuatiotl will a150 determine the opening balan￿ of the cost Cap fund and provld& an analysis of th8 cost cap as required by tho Public Setwce Pensions Acl 2013. standard Llfe Stakeholder Pon51on Scheme This is 8 defined contribution s¢hemg towards whlch employees can choo88 their level of contribution. For employee8 who corrHnenced empknyment befor8 1 January 2010 for contributions up to 9U/o of gross salary, this is rnalehed by the employeT, bvl if 9% orabove, then employercontiibutlOn8 are ￿. Foremployees who cOr[￿enCe￿ etnploytnentfrDm 1 January 2010, tho maximum employer¢(￿trIbut￿jn is 3% of gross sakry. The cost lo tha charity of contributions paid to the S¢hem@ during th8 yéar was £132,85412020'. £139,72SI at the yearond £28.718 12020- £25,080) w88 accrued in respect ol ￿ntributionS to this scheme.. Local Govèmment Pension Schem8 The LGPS is a lunded defined benelrt scheme, with as8ets h81d in separate trustee-adrninistered fund8. Tho total contributlon made for the y88r 8nded 31 A￿USt 2021 was £30,000 12020 - £29,000>, of which ompli)ye¢s contributions totalled £24,00012020- £23.0001 and etnploye6s' contributi(Ms totalled £6,00012020- £6,000}. The agreed conlributioD rates for future years are 24.6% ft)remployers and 6% for ernploy88S. Parli8menl has agreed, at the requ8St of th8 sec￿tary ol State for Education, to a guarantee that. in the event of acadgrlly closure, outstanding L￿al Gov8tnrnent Pèn%on Scheme liabilitie8 would be tnet by tho Dq)artmenl for Education. The guarante6 came into force on 18 July 2013. Prlnclpal Aetuarlal As6umpllon8 At 31 August 2021 At 31 August 2020 Discount tate for scheme liabilitie8 Rate of increase in salatie5 Rate of increas8 for pensKJns in payment l inflation Inflation assumption ICPII 1.70°A 3.85% 1.65° 3.20% 2.2(1% 2.20% Tha cuirent tnortalily assumptions Trn¢lud6 suifieient allowance for fvtu¥8 irrtPlOV8ments in mortality rates. Thg Assumed life expedations on retirement 2ge 85 are." At 3q August 2021 At 31 August 2020 Retiring loday Mal&s F8males Rgliring in 20 y88 Males F8m818S 21.6 23.6 21.8 23.8 22.9 25.q 23.2 25.2 Sen8ltlvity analysls 2021 2020 Discount rate +0.1° Discount rate -O.IW Life expectan¢y- 1 yeai increa88 Life 8xpect8noy- t year decrease Salary incfease +0.1% Salary decrea8e-0.1 411.000 437,000 440,000 408,000 424,000 424,000 202,Th)0 321,(KJO 322,000 300,000 311.000 311.000 P8ge 37 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 23 PENSION COMMITMENTS ICONTINUEDI Local Government Pen8ion Scheme Icontinutrdl Th8 ac￿leMY'S shar6 of the assets in the scheme was.. Falr value at 31 August 2021 F8lr v&lve at 1 septeM￿r 2020 Equlties D8bt instruments Property Gilts Cash and other Ilquid assets All8rn81ive as5etslother tnanaged funds 95,OLIO 7,000 10,000 4,000 4,000 28,000 60.000 5,000 8,000 4,000 3,000 17,000 Total market value of assets 148.000 97.000 The actual return on s¢hem8 ass8ts was £25,OOQ12020- £3,000). The amounts rscognlsEd in the Staknnent of Flnancial Adivities are a5 follows". 2021 2020 Current Servi￿ cost Interest income Interest cost 162.0001 2.000 15,000} 143,0001 3,CH)O 16,0001 Total amount r&cognlsed In the Statement of Flnanclal Actlvltles 155,000) {46,0(￿)} Chang8$ in the pr8S8nt V8lu8 of the delined benefitobligationwere as follows.. 2021 2020 At 1 September Cutrenl s8tvKe c05t Employeè conlribulion8 Inte￿t ¢osl ACt￿arial lossesllgainsl E8tirnated benefits paid net ol transfers in 311,000 52,OLIO 6,000 s,000 54,000 14,0001 335,(A)0 43,000 6,000 6,000 133,0001 14fj,0001 At 31 August 424,QOO 311.000 Changes in the fair value of tt18 ac8d8tnls share of scheme assets were as follows.. 2021 2020 At I Septembgr Interest income Actuarial gainslllo8S651 Ernploy8rcontiibutions Employee contributions EstSmat$d bènafits paid plus unfunded nel of Ir8nsfers in 97,000 2,000 23,OOD 24,000 6,000 14,0001 181,000 3.000 150.ODOI 23,000 6,000 146,OOQI At 31 August 148,000 97,000 Pago 38 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 25 FINANCIAL INSTRUMENTS 2021 2020 Flnancial ass81s m8asured at fair value 61,363 53,757 Financial a85ets he￿ 8t fslrvaue include as8ets held as Investments 28 OPERATING LEASES At 31 July 2021, the ¢harily had commltments under non-canc&ll8ble operating lea89s as follows." 2021 Land and bulldlngs 2020 Land and bulldlng8 Charlty and group Equlpment Equipm8nt Op8ratiru leases payments in th8 fdlowing p8ri0ds". Within year thln two to five years Aflar more than five years 11,300 49.200 215,850 60,489 80.156 11,300 49,200 228,150 57,976 115,861 276,350 140,645 288.650 173,837 EXpe￿Illula for tho year includes oporaiing lease rentals-. 0,311) 75,5D7 10,300 79,281 27 MEMBERS, LIABILITY The charity is constilutgd as a cofftpany limited by guarantee. In th& event of the charity being wounl up. memb&rs are required Io Gontr¢bute an amount riot ex￿edIng £1. 28 RELATED PARTY TRANSACTIONS During th8 y8ar, NHST charged NHSE £nll12020- £49.0001 forthe promsion of faelllb.es and paid £68,001 12020- £150,492> in resp8Ct OF Commission Charges to the sch￿1. NHSE donated £nil12020- £nill to NHST wa Gift Aid ft)r the year. NHMAT rec8iV8d administialive support. payroll 8ervkE5, leachiro support and senior management Ovgrslght durlng the year on an 8d hoc basis. No material financial transactions oc¢urred during 2020-2112020- Two trusteès had a total of three children employed by NHST12020.' one) as supportlleaching staff. Th8 trustees W8r8 not inv(Av8d in appointments and the S￿dar￿ salary scale app118d, as advertised. Pag8 39 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 29 CONSOLIDATED STATEMENT OF FINANCIAL ACTJVITIES- COMPARATIVE FIGURES BY FUND TYPE Mulb Academy P8rrnan8nt Restricted Endowment Fund Fur Uniestricted Funds Re3lricted Funds Total 2020 Income and ¢ndowments from: Charitable actlvltle5 School fees and oth8r eh8rgas Funding for edutrdtional purposes other Other trading activrtl8s Investments Other incomo Don8tlon8 22,320,521 22.320,621 529,809 51.328 282,227 48.603 673,200 51,499 529,809 51.315 243,968 45,802 fj73.200 13 2.252 2,708 16,W7 295 41.415 10,084 Total income 23,334,6 46.3SS 556,195 23,937.1B7 Expenditsr8 on.. ChartlablÈ actlvltie$ Provision ol educ(Ilion Raising funds Raising donations Trading.. c4)st ol good8 sold and oth8r costs 22,277,843 73,888 802.064 88.374 23,041.969 178 773 951 8.913 338.913 Totsl expenditura 22,816.756 73,866 6￿2.837 88,374 23.381.833 Net losse5 on invB5trnents 1,089 1.089 Nat Incomellexpenditurel 717,850 126,3911 146,6421 188.3741 SS6,443 Transf8rs bètween funds A¢luarial loss8s on d8fin8d b8n6fit pen￿on schern 122,9641 13,709 9,255 117.(K>OI 117,0001 Not movomont in fund¥ 694,886 112.6821 154,3871 188,3741 539,443 Balan￿$ brought fO￿ard at 1 August 2019 19,554,351 144.896 1,250,111 3.181,471 24,130,629 Balancos oarrted foTward at 31 July 2020 20,249,237 132,014 1,195,724 3.093,097 24670,072 COMPARATIVE FUND NOTES General Furld 2020 2019 Group At 1 August 2019 Income Expenditure Gains, Ios58s and transfers 16,264,263 14,222,787 23,334,G06 22,626,187 122,616,756) 120.584,711) 1,747,658 At 31 July 2020 18,729,771 16,264,263 Paga 40 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 2020 2019 Gharlty At 1 August 2019 Income Expendlturè Gain$,108se8 and tra¥18fers 16,261,733 23.q76,276 122,445,439) 1,756,913 14.216,830 22.372,754 120,327.8511 At 31 July 2020 18,749.483 16,261,739 De$lgnat•d Fund At 31 July 2019 Giains, losses and transfers At 31 July 2020 Charlty and group Income Expendituie 8ullding dev81opment fvnd 3,290,088 11,770,822) 1,619,466 R•strlcted Funds Gains lossas and transfers Charity At 31 July 2019 At 31 July 2020 Income Expendltur Scholarship funds other restricted donations New Hall Voluntary Sem(￿￿ New Hall Association 55.769 2,267 40,586 J,081 452 12,2601 140.5861 116,9431 174.0771 1,089 56,865 22,051 e6,878 13.709 21.898 $3,2S1 144,696 46,386 173,8681 14,798 132,014 NHMAT funds Genaral Annual Giant {GAGI start Up Grants Oth8r DIEIESFA Giants Pupil Pramium Lacal atsthorily grants other restricted funds P$nsion raserve FÈxed a55eis transferred on convetsion Capilal expenditure Unfestrlcted funds 23,(K6 60,252 7,011 3,130 421,049 1420.2031 112,7151 11,197 80,262 6,486 4,690 46.833 22.680 39.247 147.3581 121,1201 {39,2471 1174,0001 1,042,802 215,991 71,859 I23,0(￿) {15,6781 120,9061 115,3251 117.000} 1214,0001 1,027,124 212,724 87,241 4,934 21,452 12,715 9.255 1.250,111 556.195 1602,8371 17,7451 1,196,724 Total Charlty and group 1,394,807 602.581 1676,7031 7,053 1.327,738 Page 41 NEW HALL SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 JULY 2021 Analysls of Net Assets Beiwèon Funds NHMAT P•rmanent rastrlcted endovmient funds fund Ggneral D8slgnated RpBtrictgd fun fund fund8 Total funds Group Fund balan¢98 at 31 July 2020 are representèd by: Tangible fixed a55ets Fixed ass8t Invèstmanls Net current assets Creditors., amounts falling due arter more than One year Pension s¢h&m8 liability 20.341,305 1,239,858 3,093,097 24,674,260 53,757 3,080,789 53.757 78.257 1,293,200 1.519,466 189,868 12,904.7341 12,9Q4.7341 1214,0001 1214,0001 Total nat assèts 18,729,771 1.519,466 132,014 1,195,724 3,093,097 24.670.072 Permanent Ganoral D8gignatsd Restrlcted endownont fund fund fvnds fund Totsl funds Charlty Fund balanc88 at 31 July 2020 are iepr6sented by.. Tangible ftxed assots Fixed asset investsn8Uts Nèt Current assets Creditors-. amounts falling due after m016 than c4)e year 20,341,305 3,093,097 23,434,4Q2 53,759 2,910,633 53.757 78,257 1,312,9ffO 1,519,468 12,904.7341 12.904,7341 Total n8t assets 18,749,483 1,619,466 132,014 3,093,097 23,494,060 Page 42