Tho Hov¢ Colleg• Iforn)erly W¥lsan Stuart UCB Partn•rshlp Trust) Trustees. Report Y¥r Ended 31- Aygu$t 2022 The Trustees presentlheir annual Ptsrt togetherwith the finano81 statements and auditors report ol the charrtable company lor the period September 202110 31 August 2022. The annual report serves the purposes ol both a trustees, report and directors, report under company law. The Independent Spè¢ia1ist college calefed lor 107 High Needs pupils aged 19 10 25 in 202112022. Structure. Governanc• and Management itulion The college is a comp8ny lirniled by guarantee and an exempl ¢harity. The Chariiable Company'5 Artides of Assooialion and the Funding Agreement arè the primary governing documents ol the college. The Trustees ol Wrlson Stuart UC8 Partnèrship Trust are also the dilor$ of the Charitable Company for the purposès of company law. T*è Charitable Company is known as Wilson Stuart UCB Partnership Trust. Details of the Trustees who See throughout the yeaf are induded in the Reference and Administrativè Dei8ils on page 2. mbers. Each member of the Charitable Company undertakes to contribute lo the assets of the Charity IA the event of it being wound up while they are a membef. or within one year after they cease to be a rnember, such amount as may be required, not exceeding £1. lor the debt5 and liabilifies contracted before Ihey ceased lo be a member. Trustees, In mnities In accordance wilh nofmal commercial praCte the college has purchased insuran¢e Io PFolect TTU51ees and officers from Claims arising from negligent acts. errors or omission ocruriin9 whilst on colkge busine55. The insurance provides Trustee Liabilily Gover up lo £5,000.000 on any one claim. Methocl of Recmitment and A intment or El8Ction of Twst6•es The number of Trustees shall comprise ol no less than 3 but no more Ihan 9. TTUStèès may be re-elected lor consecutive periods not exceeding in aggregate 12 years from the date of thti¥ original appointment. Co-opted Truslees may only hold office for l year. Polici85 and Procedures Ado ted lor the Induction and frainin ol Truslees. Training for all Trustees is tailored around their existing experience and ski115 and is arranggd on an individual basis dependant on iheir specific trainin9 needs. l Trustees have access lo information via ihe college member website which holds paperwork relating to past meetings and schedule of fulure rneelings. One of Ihe Tiustees is appointed as ihe safeguarding Trustee, reviews safeguarding in the schools and piovides feedback on the revW9 to the Trust Board. anisaJonal Structu The governance ol the college is defined in the Mèmoondum and Articles of Assoclation togethef bwth the funding agreement with the Department of Education. The Tnjstees have establishet¥ a schedule 016 meetings per year with designated content at each meeting. This will be reviewed annually but specifically inclvdes setting the college's policies. a¢Jopting the Sell-Assèssment Report {SARI and budget, rnoniloring perfomance against these anS and making decisions regarding curriculum, achievements and wèlfare of students and slaffinglspending lèvels. Thè Tiuslees have appointed an intefnal auditor to give assurance that the college's Financial Procedures are bging adhered to and funds are being expended appropriately. Arran emenls forseltin andMneIl0 ol ke mana emenÈ srsonnel Pay increments for all staff are subject to sucGesslul Perfomiance Management. Staff have lo meet Specifie iargets, set arKI monitofed by line managers line with the colle9e Qualily Improvemenl Plan IQIPI, and 5pecif1ed Truslees in the case ol.the collegè principal. All staff are paid within ranges on nationally agreed pay scales. Page 2
The Hl¥e College Iformorly Wi150n Stuart U¢B Partn?hIp Trust) Tru$tee¥' Report {continuedl Year Ended 31" August 2022 Related rtiés ènd othèr C nne¢ted Ch ritiès and O anis8tions All members and Trustees complete a business interest dedarations lorrn on an annual basi5. The declaralion sets oui any relalionship with businesses, othef educalional esiablishments, TStee5 or college staff. Each individual is required to declare a polenlral "conflict of interesl. il it arises befften such declarations. Once a declaration has been made. the individual conGerned takos no further part in any decision relating to the matter declared. In respect of the current year. the Trust has the IDllowing relalionships.. The Trust share5 some of its facilities with other site users. including James Brindley Sperjal School and Wilson Stuart School. and thu5 shared costs. It also has a partnership with University College 8imingham for the govemance of the college. Tra nion facKil lime Infomalion in accordance with Schedule 2 of the Trade UnK>n IFaBility Time PuNiGation Requir8mentsl Regulations 2018 is as follows.. Relevant union officlals Number of employee5 who were relevant union officia15 durin the relevant eriod Full-time equivalent number Percentage of time spent on fa¢ility timo Peieenta 0% 1%-SO% 51%-99% 1000 e of timE Nurnber of em PÈrrenlage of pay bill 5pBnt on faGility time Total c05t of facili Total Fa¢ilit knme as time £1.823.540 er¢enta e of total Paid trade unlon actlvllle$ rirne spent on paid trade union activitie$ a$ ercenta e of lotal lime hours Objectives and Activitie$ CES The college's object 15 to advance education for children aged 19-25 years. promote independent living and access to paid Èmployment or volunteering. Ob ectiv&s Slrèt lès ènd Activities The main objectives for the periofj ending 31 August 2022 a detailed below.. To raise the standard of educational achievement of all students, ensuring every slud¢nl receives high quality education with equal access to resources and teaching To improve the effectiveness ol the college by keeping the curriculum and organisatKMal structure under continual reviÈw Page 3
The Hiv8 College Ifomierly Wllson Stuart UGB Partnershlp Trus Trustees. Report Icontlnuedl Year Ended 31" August 2022 To prowde value for money ol the funds expended To compiy wth all appropriate staiulory and curriculum fequiremenls To conduct the college's business in accordance with the highe51 standards ol integrity and opeftne55 The strategies a(Jopted for achieving Ihe5e objectives are.. Monitoring and evaluating the college alp ensuring il meets its aims Driving Best Value and VFM when pr¢¢urirtg goodslworkslseNicès Scrub"ny ol and rèwrting lo the Trust Board Significant activities linked lo the trust's charitable activities. and how they further ils aims. have been.. Work placements for students lo promot8 indÈpend•ncè Partnerships with outside agencies and collaboration with universib.es and oiher schools Funding bid5 to outside a9encies including Educats'on Skills Funding Agency IESFAI and Local Authorily Public 88n8fi In setting our objÈelives and planning our a¢livi11ts5. the Trust Board has given careful consideration to the general guidance on pUtle benèfit published by the Charity Commission on their wèbsite at vw. ov.ukJto iclrunnin charit Imana in <hari in exercising Iheir powers or duties. Wilson Stuart UCB Partnership Trust is an equal opportunity employer and strives to give lull and fair consideration to all applicants lor employment. training and promotions, irrespective ol disability. gender. race, colour or sexual orientation. Strat•9ic Report Achievements and Performance 2022-22 moncÈ Indicotor5 ramme LIVE aualificalion Nool entries Achieved Partial achievement Fail Em lo abili Em Pass rate Skills L1 Skills E3 L1- 100° E3- 90.90% 22 20 Qualification Nool entriès Achieved Partial achievemènt NCFE Maths L2 NCFE Maths L1 NCFE Maths E2 NCFE Math5 E1 Pa55 raie L2. L1. E2. EI- 100Vo 10 10 Qualification Nool entries 15 Achieved Partial achievemenl NCFE En NCFE En NCFE En Pass rate lish E3 lish E1 L1, E3, E1 100% Page 4
Th¢ Hlve ¢rAlege Iform•rly Wilson Stuart UCB Partnership Trusti Trustees. Report l¢ontinuedl Y?ar Ended 311¢ August 2022 student Destinatins 18 leavers.. Paid Empkjyment 6 NEET 3 ormonte Indicotors THRIVE Stud Pro mmè Apprenticeship 4 Voluftleefing 4 Seei81 Care lill healthl 1 Qualification Nool entries 16 Achieved Parti81 achievement Fail NCFE Thrtaths E2 NCFE Maths E1 Pass iale E2, E1-100& 8-16 Qualification Nool entriès 17 Achieved Partial achievement Fail NCFE En NCFE En Pass fate lish E2 li5h El E2. E1 - 100.10 17 Student Destination5 6 leavers Social Destination 4 Volunieèring 2 STRIVE Stu ramm Studènts follow a non-accredited sensory curriculum,. largets set followng baseline5 being sel and progre55 is continually monitored and recorded. student tkstinatsons 14 leavers Social Oestination 10 Home lill healihl 3 Returned to home country 1 Attendanc8 for Ihe aeèdèmff¢ ar LIVE-89.20% THRIVE- 84.76% STRIVE- 80.36% Total average- 84.77 Rètention for Ihè academ ar 95.330 Oire¢l costs as a per¢entage of tol81 costs We 50.6%12021 $5.6%1 Supwrt ¢osts as a percen¢a9e of total Costs We 49.4%12021 ". 44.4%) Totsl payroll ¢o$1s a5 a pgrGpntage of rKurring income wer& 63.7%12021 57.6%) Golng concem After making appropriate enquiries. the Board ol Trustee5 has a rèasonable exp8Ct3tion that the college has adequate resources lo continue in operational existence lor the foreseeab lulvre. Ihis reason. il continue5 10 Page 5
Tho Hlve College Iforfflerly Wilson Stuart UC8 Partnership Trusti Tiustees. Report Icontlnuedl Year End&d 31W August 2022 adopt the going con¢ern basi$ in preparing th• finan¢ial stsiemen15. Furthef details regarding the adopiion of the going concem basis can be found in the Stat•menl ofAccounts"ng Policps. Flnancial Revlew The financial results of Wilson Stuart UCB Partnership Trust are detailed ill Ihe following pages. 11 is considered that the finances ar8 sound and wèll esiablished. The principal financial management policies adopteil are la down by the Finance Handbook lor AcademEs published by thè ESFA and requirnents as laid down by the Academy Trust Handbook. The prineipal funding source is grant income from th• ESFA. All èxpendilufe of thi$ grant income 15 plannèd lo fulfil the objectives and sirategies ol the college. During the year ended 31 August 2022 the college feceived total fundin9 01£2,940.337 compared to total resources expende(J of £2,532,516 to give a surplus for the yeac of £407,821 which included ¢Jepreciation of £89.341. R•s8rves Poltc The Trusteès ronlinually monit¢r the reserve5 of the colkge. This process encompasses ihe nature ol income and expenditure streams and ihè need lo matth commitment5 with income and nature ol reserves. 11 is the Trust Board's general policy to continuè lo build resÈffts whtch can be used fr)r future educatlonal purposes. The college had total funds at 3111 August 2022 of £2,243,518 which include¢J É1.312.274 restriclecl funds r1 available lor general purpose5 01 the college, £12,683 01 tree reseThÈs defined as unresiricted funds available for general purpose5 and £1,066,561 which can only be realised by the disposal ol tangible fixed assets. The balance on restricted general funds lex¢luding pensK)n reserve) plus the balance on vnrestricled funds was a surplus of £1,324,957. In a¢Jdilion, the deficit on the restricted pension luncj of £168.000 arises from an actuarial deficrt on the local govemmenl nSIOn scheme which will be dealt with as advised by the aciuary. The trustees gulaY review the level ol reserves to ensure the college is sustainable and monitor the number of months the reseNes can fund. Investment Polic The college does not have an investment policy bul lollows the guidelines of the Academy Trust 4andbook. The school reVwS investing funds in a high interest account on a 9lar basis depending on interest rates. At 3111 August 2022, the college ha(J no funds investèd in a high intèrest deposit account. Page 6
Th• Hivo College (formerly WSlson Stuart UCB Partnership Trus¢l Tfuste8s' Report Icontinuedl Y•ar Ended 31" August 2022 al Rlsks and Uncertainties The Trustees have ¢gnsidered the major risks and uncertainties faciny the ¢harilable cornpany whi¢h in¢lude changes in legislation and regulations and cash flow management and h8ve put in place pro¢edYS lo deal with these matters. During the Covid pandemitt electronic pr¢cedures were introduced ft>r all business and opÈration31 systems which will be retained going forward. Aitenlion has a150 been locvssed on non-financial risks arising from fife. health and safety. These risks are managed by ensuring accreditation is up to date, having robust poli¢ies in pkce. and regular awareness training for staff working in these operational areas. Outlined below is a description ol the principal risk factors that may affect the college. However. not all factors are within the college's conlrol and other faciors bèsides those listèd below may also adversely affect the college. l. Govemrnent ftsnding The college has considerable lianCe Dn Contlnued government funding Ihr¢ugh the ESFA and the Local Authority ILA). This risk has and will be mitigated in a number of ways= Considerable locus and investment is placed on Maintaining and managing key latiOnshIpS wilh various funding bodies", Focus on priority sectors which will continue lo benefit from pvbltc funding: Contingency planning is ernbedded into the academy budget process. 2. Funding pension liabilitias The financial statements report the share of the local 9ovèmmenl pension schemè dèficit on the college's balance sheet in linè with the requirements of FRS 17. The college lakes professional advice on this position and makes appropriate contributions on the basis of that advice to ensure lae deficit does not become unmanageable. 3. Studenl slrat8gy The co51ege artracts prospective siudenls by.. Delivering high quality education.. Maintsining ouislanding success rates and good inspectH)n oulcome5'. Invesling in slaffing and resources. With ongoing Commitment to quality, the college provides high quality leamln9 environments for all Ihe students. Ftsndmisi The college does not US8 pxlernal hJndraiseTS. All fundTaisin9 undertaken during Ihe perivd was mon"rtored by Ihe TrLbStees. Plans for Future P•riods The collagè's stut1ent numbers have in¢rea$ed sleadily from 10 in September 2013 to 107 in September 2021. Ir¢ September 2022 the number ol commi55ioned places is 103. The ¢ollege facilib"e5 will conlinue to be developed and further capital investment will be sou9hl lo facilitate this expan5i0n. The college will join Education Impact Academy Trust on isl September 2022 as a wholly owned subsidiary company. The MAT will wovi¢Je educatK)n to nearly 1.000 students in September 2022. Funds held as Custodian Trustèe on behalf of othe Neilhèr Wilson Stuart UCB Partnership Tru51 nor the Trust Board 15 acting as third party custodian trustee5. Page 7
The Hlve Collège Iforn)erly Wilson Stuart UC8 Partnership Trusti Trust8•s' Report l¢ontinuedl Year Ended 2191 August 2022 Audilof In so far as the Trustees are aware-. there is no relevant audit infomats'on of whr¢h the Charitable Company's auditor is unaware., and the Trustees have taken all steps ihal they ought to have taken to make Ihemselves aware ol any relevant audit information and to establish that the auditor is aware of that information. Trustees. repor( incorpoTatin9 a slraleyic reporL was approved by order ol the Board ol truste8s, as the Company d¢re¢tor5, on and signed on the board's behalf by.. Slgned.. C. Hu$sey Chair of Trustee5 Page 8
TklE The Hive College Perry Comfflon Road. Erdington, Birrnlngham, B23 7Ar The Hive College (formerly Wilson Stuart UCB Partnership Trust) (A Company Limited by Guarantee Annual Report and Financial Statements Year ended 31$t August 2022 Company Registration Number 09687904 (England and Wales) Charity Registration Number 1168589 Feltons, Chartered Accountants Birmingham B1 3JR *AewBV421• 30m1r2023 COMPMIIES USE 111
The H•¥e Colley (formwty Wils•n Stsart UCB Partnership TTUSt) Aan¢ial Sts¢ements Ywr EThéed 31At August 2022 Contents Page Reference and Administrative Delails Trustees. Report Govemance Statement Statement on Regularity. Propriety and Complian 12 Statement of Trustees, Responsibilities Independent Auditor's Report on the Finanoal Ststements 14 Reporting Aecountanfs Report on Regularity 18 Statement of Financial Activitie5 incorporating Income & Expenditure Account 20 Balance Sheet 21 Cash Flo Stalement 22 Notes forming part of the Financial Statements. incorporating". Statemenl of Accounting Policies 23 Other Notes lo the Financial Statements 28
T Hive Collgge Iformetly Wilson Stuart UC8 Partnershlp Trustl Reference and Administrobon D*iaiJs Yèar Ended 3111 August 2022 Members l Trustees Mr. S Hughes App(Nnted 15107r2015 Retired as AecountiThJ Officer 3111212021 Accounting Officer Vice Chair of Trust Board Chair of Trust Board MrJ Harris Mrs. D Rush Mr. C Hussey Mr D Bennett Ms A Lofthouse Ms N Brady Ms H Mandleterg Appointed 0110112022 Appoinle(1151071201 S Appointed 0610712017 Appointed 1310712018 Appointed 1611012020 Appointed 1410512021 Appointed 0611012022 Resigned 0410712022 Senior Leadershi Team Chief Executive Officer College Principal College Vice Principal Chief Financial OFerations Offer Mr J Harris Mrs K Everton Ms N Culler Mrs D Rush Company Name Wi150n Stuart UCB Partnership Trust Registered Office Perry Common Road Erdington Biniingham 823 7AT Company Registration Number 09687904 (EThJland and Wales) Charity Registration Number 1168589 Auditors Feltons (Bham) Ltd 8 Sovereign Court 8 Graham Street Bitmingham B1 Bankers Uoyds Bank plc 25 Gresham Street London EC2V 7HN Solicitors Browne jab$On LLP Victofia Square House Iricloria Square Birmingham B2 4BU
Tho HNe Collegè Ilorm•rfy Wtlson Stuart UCB partn91p Trusti Tru5tees' Report Year Ended Jl" Awust 2022 The Trustees presentthèirannual report1tr3eiher with the finarrial statements and au(Jitor's report ol Ihe charitable company for the pèriod IM Septembèr 2021 to 31st August 2022. The annual report serves the purposes of boih a trustees, report and directors, report under company law. The Independent Speek?list college catered fc¥ 107 HJh Needs pupi15 aged 19 10 25 in 202112022. Structure. Gov¢Thanc• and Manag•mgnt Thè cdlege Is a CoMpY limile(I by guarantee and an Èxempt charity. The Charitable Company'5 ArtleS of Association and Ihe Funding Agreement are the wirnary goveming documents of the GLillege. The Trustees ol Wilson Stuart UC8 Partnership Trust are a150 the diredtsrs of the Charitable Company for the purposes ol company law. The Charitable Company is known a5 Wilson Stuart UCB Partnership Trust Details ol the Trustees who seNed throug11 the year a fflduded In th¢ RefererK¢ and AdministratNè Details on page 2. ' Lbill Each member of the Charitable Company undertakes to contribute to the assets ol ihe Charity in the evenl of it bging wound up Whi they are a member. or wthin one year after they cease to be a member. such amount as may be required, not exceeding £1, lor the debts and 1iabilth.es contracted fOre they ceased ro be a member. Trustses, I demnIt$ lft ac£ordanee with nomal eommefaal pcactsce the tallw has purthased insurnnce lo prolect Trustees and offieers from claw7)s arisjng from neglKJent acts, errors or omission occurrirrfJ whilst on college bvsiness. The insufance provides Trustee Lia"l1ty cover UP to ÉS.1)XI,O on any one dawn. Meth ofRecrnilment and A oinimènt orElec on r Trusles The number ol Trustees shall ¢ThTrprisÈ of Tho less than 3 but no mfè than 9. TTUStee5 may be re-eleclea lor conse¢utyve periods noi exceedin9 in a99re9ale 12 yèars the date of their original appointsnent. Co-opted Trugtees may only hold oiffce for l year. i8s and P ures A ted lorlh Ind cln inin ITnJ Trainin9 for all Tru5tee5 is tailored ariyjnd th•rexisting experience and skills and is arranged on individual basis d•pendanl on their spe¢ifK training t)eeils. All Trvstees have access to infotmalion via the coJleg• member website which hokls pwrwork lating to pasl meebngs and schedule of future meebngs. One of the Trustees is appointed as the safeguarding Twy5tee, re¥w$ safeguarding in the schooL8 and provides reedback on the revwts to Ihe Trust Board. anisalion ure The governance of the college is define(l in the Memcrfandum aThJ ArtKle5 of AssockiDn together wtlh the funding agreemÈni wilh thè Department of Edueabon_ The Trnstées have èsrablished a schedule of 6 meetings per year wilh deswnated content at each meeting. This will be reviewed annually but 5peciftslty includes seiting the Collegè's wlicies. adopb.ng the Self-Assessmenl Rep)rt ISAR} and budget, monitoring perf0mnCe a9ainsithese aS and making decisions regarding curriculum. aGhv&vements and welfare of sludents and slaffin9lspendin9 levels. rhe TTU5kes have appointed an internal auditor to give assurance lIt the college'$ Financial Proce%Jure$ are being adhered lo and lunds are bein9 expended approprkqtely. Art ements lorsettin and remunetslion ofke mana emènt 8r50nn•l Pay increments lof all staff are subject to suSsIu1 Pertomaneè Management. Staff have to rneet specifRd targets. set and monitored by linè managers in line with the collegè Quality Improvern?nt Plan (Qlp). and specified . TnJstees in the case of the cole principal. Al staff arè paKJ wlhin ranges on ThattallY a9reed pay scales. Page
The Hlve College Ilornierly Wilson SbJart UCB Parthgrship Tru$V Tntste•s' Report Icontinuedl Y¢ar Ended 311 August 2022 Related artiès and olherconnèeled Charillès and O All rnembers and Trustees trynplete a trxJ$iness interest dedarabons form on an annual basis. The declaration sets out any relaiimship wilh businesses, other educational establishments. Tiustees or college staff. Each individual is required to declare a FQtentk71 'COnfl ol inlerest. il it ari5e5 behveen such declarations. Once a de¢laratr)n has been made. Ihe indNidual concerned lakes Tro bjrlher part in any decislon relating to the matter declared. In fespect of the current year, the Trust has the followin9 rdalion5hips.' The Trust shares s¢xne of its facilitie5 Wth other Sile users. indudirrfJ Jame5 Brindley Speual Schcrfjl and Wilson Stuart S¢h¢ol. and thus shared costs. 11 also has a partner5hy with University Cow BiTmingham lor the govemance of ihe wllege. Information in aCcOr(Jar wFth ScheI1u 2 of the Tre UnK)n (Fwlty Time PU[Cat)n Requirements) Regulations 2018 is a5 follows.. Relèvant union officials Nurnber of employees who were relevant union officials durin the relevant eriod Fu114ime eqvNalenl number Percentagé of lime Spent oft faeility tim• Per¢eftta e ol time 0% 1%-50% 51%- 99% 100% Number ol em es Percentage of pay bill spent on facility time Toial cost of faoli Total Fatilil time as time £n £1.823 540 0% r¢enta e ol total Paid trad• union a¢tl¥iti Time spent on paid trade union acti"t$ as a rcenia e of total ad faol" time hours Obj¢¢tives and Activities Ob" ts andAim The college's object is to advance education for¢hik1fen aged 125 years. independent liwn9 and access to paid ernployment or volunteering. ecti tral les and Acbwlies The main objectives for the perw)d ending 31 Sl August 2W22 afe detaile¢l beh)w. To raise the stsndard of educational achievement of all stu(Jents. ensuring every SIa¢nt receives hvJh quality education with equal access to resources and teaching To improve the elfeCbvess of Ihe college by keeping the cu(rKylum and organisational structure under contsnual review
The Hive Colege (fornierly bYib¢)n Stuart UCB Partrership Trust) Trustees. Report Icontinuedl Year Ended 31- August 2022 To provide value lor of the fund5 expended To comply with all appropriate slatutory and curriculum requirements To eonduct the college's business in accordancè wilh the hhe$l stsndards tsf inWrily and openness The strategies adopted lor achieving thèse objectivès are: Monitoring and evaluatw)g the colle9È QIP en5uiing il meets its aims Driving Bèst Value and VFM when wcturing goodsh¥orkslservices Scrutiny of and reportitYJ to the T$1 8oard Stqnificant aclivitye5 linked to ihe tnjsl's charitable actiVes, and they further its aims, have been.. Work plaentS for stlS to promole independence Partnerships wilh outside agencies and cdlaborabon with univergbe5 and olher schoD FuTrJing bids to outswle agencies lUding Edtxab"on Skilb Funding Agen¢y IESFAI and L1 Authority Public Benefi In setting our objectives antJ planning our tMties. ihe Trusl Board has gNen calu1 considerabon to ihe ger1 guidance on public benefil publishe(J by the Charity Commission on thr website at vhvw. ov.ukJto iclrunnin hari Im in exero5irvJ their w)wers or dutw. Wi150n Sluart UCB Partnership Tru5115 an equal opportunity employer and strives to give lull and tsir wnsideration lo all applicants for ¢M0Yrnent. training and promofKsns. yre5peckn.ve of disability, gender, race, cpbur or sexual ori8nlation. Strategi¢ Report Achièvèments and Perfomiance 2022-22 Ke Pe LIVE Stud P ormonce Indic¢7rors ram QUalIfon Noof entriès Achved Parb'al achvement Em h) abili abili Pass rate sk1$ L1 Skills E3 L1- 100% E3- 90.90% 22 20 Qualifulion Noof entries Partial achievement NCFE Maihs L2 NCFE Maths L1 NCFE Maths E2 NCFE Maths E1 Pass rate L2, L1. E2. E1-1C 10 Qualificxtion Noof entries 15 AChd paal achVernent Fail NCFE En NCFE En NCFE En Pa5$ late 15 lish E3 lish E1 L1. E3. E1 100%
The Hl¥e College (forn)•Y Wi150n Stuart UC8 P•rtnew5hip Trust) Twsl¢es' Report {con¢inuedl Y•ar Ended 3141 August 2022 Student Desfinahons 18 leavers.. Paid Empioymenl 6 NEEf 3 ormonce Indicotors THRIVE Stud ramm8 ApWenIKe5h 4 Volunteering 4 Care (ill health) 1 Qualification Noof Èntries Achieved Partial achvement NCFE Maths E2 NCFE Malhs E1 Pass rate E2. E1 100% 16 8-16 Qualfficab"on Noof entries 17 Achieved Parbal achievement Fail NCFE E Ir5h E2 NCFE En lish E1 Pass rate E2, E1- 100% 17 student Destinati(5 6 leavers sal Deslination 4 VolunteerirwJ 2 STRIVE Stud Pm ramme Students folknv a nOn-eited sensory Cyrrwm." tar9ets are set folknn9 baselines being set and progfess is continually monitored and recorded. Sludgnt Destinatws 14 leaver5 Soa"al Destination IQ Home hÈalthl 3 RelumÈd to IKme county 1 Attendance fortlK academic ar LIVE-89.20% THRIVE- 84.76% STRIVE- 80 36% Tot& average- 84.77% Reten 95.33'h Direct costs as a percentage of total c0515 re 50.6% (2021 . 55.6%) Support costs as a perntage ol total LX5ts 49.4%12021 . 44.4%) Tolal payroll w5ts as a percenlage of recwrry inc(Mme vrtre 63.7%12021 .. 57.6%) Going cone•m After makin9 appropriate enquiries. the Board of Trustees has a reasonable expeclab.on that the college has adequate resources lo continue in opefational existence for the foreseeable luluie. Fry th rea50n, it ¢ontinues lo
Tha Hlvè Coll?ge (formerly Wi150n Stuart UCB Partnership Trusti Trusfees, Report{¢¢)ntlnuedl Year Endtd 31" August 2022 adopt the gn9 ¢))ncem basis in preping the fmancol stmenis. Further delails regarding thè adoption of the going concern basis can be found in the stateffnE of ACcJfib"n9 PoIles. Financial Review The finanaal rèsults of Wilson Stuart UCB Parlnership Twst are deialed in the Idlomng pages. It is considered ihal the financès are sound and wdl established. The wincipal financial management poIleS adoptèd are laid down by Ihe Finance HandtKy)k for Academs published by the ESFA and reqU1MentS as laid down by the Academy Trusl Handl. The principal funding source is 9rant incomè from the ESFA All expendilure ol this grant income is planned to fulfil the objecti.ves and strategies ol Ihe colle9e. Dunng the year ent1ed 31 Avgusl 2022 the c¢illege e1Ved iotsl run1n9 of£2.940,337 compared lty total resources expended of £2.532,516 to give a surplus for the year of £407.821 whh included depreciation of £89,341. Rtserves Po The Trustees continually monitor the serveS ofthe colkge. Thi8 pr¢xess encompasses e Tratu of in¢ome and exPerlire 5trearns and the need to match commitments with income and natu of reserve5. It is the Trust 8oard's general policy to thb.nUe lo build re5eryes whh can be vsed lor luture educational purposes. The college had lotal funds at 3111 Augusl 2022 of £2.243.518 induded £1.312.274 restrmaed funds r1 available for general purposes of the college. £12.683 of free reseNès defined as unrestricted lunds available for general purposes and È1.086.561 which can only be (eald by the disposal of tangible fi'xed assets. The balance on restrr¢led general fvftds (èxduding reserve) Wu5 the balance on unfestrled lunds was a surplus of £1,324,957. In addilion, the defKit on Ihe restrtcted pension lund of £168.000 •ses from an a¢tuarial deficit on the local govemrnènt pension sd)eme which Mll be deall wth as &Jvised by the thry. The trustees re9ularty review the level of reseThes to ensure the Olege Sustaat1e and monitor the numbèr ol rnonlhs the reseThes can hjnd. Invèstment Pol The college does Tt hÈve an investment but follows the guidèlines of the Atadtmy Trust Handbook. The school reviews investing funds in a high interest acctyJnl on a regular basis depending on intefest raies. At 31. August 2022. the college had no fvnds invested in a hwh interest depts5it account
Thg Hive College If08T1Y Wilson Stuart UCB Partnership Trust) Truste85' Report {continuedl Y•ar Ended 3111 August 2022 l RkS and Uncert The Trustees have consi(Jered the rnaior risks and uncert.ntieS facing the charitable company which include changes in legislation and regulations and cash Ilow management and have pul in place procedure5 to deal with these matters. Ouring the Covhj pandemic electron prcredu we(e introJ¢xed for all ISinesS and operaiional systems which will be relained going foTh¥ard. Attenlion has also been locussed on non-frnGwl iisvs arisiTr3 ffom fire, hèalth Safety. These risks a managed by ensuring acciÈditatitsn is up to date. having robust policie5 in pl, and regular awareness training for staff working in Ihese operational areas. Ouilined below is a descfiPtK)n ol the principal risk fadors thai may affect the collegè. However, nol all factors are within the college's control and other factors besides ihosè lisied bek)w may also adversely affecl the college. l. Govemment funthng The college has Conshdèrable rekancè on cthkn.nued 9OVeTnmenl lunding thiough thè ESFA and the LDcal Authority ILA). This risk has and wi11 be mitKJated in a fiumber of ways.. Consideble focus and inveslment 15 on maintsinlig anJ managirg key relationships with various funding ty)dies'. Focus on prK)nty sectofs whh will conkn.nue 10 benefil frlyn publ fundiry." Coniingency planning is embedded into the academy ty)dget prceess. 2. Funding penston liabKKi•s The fi'naneiai 5tatemenis port the Sha of the government pensk)n scheme def1t on the college's balanGe Sheet in line the requirements ol FRS 17. The college tske5 prolessional adv on this wsilion and makes appropriate contributions on the b8sis of that adwce lo ensure the defi¢rt does becomè unmagee. 3. Sfudent slrategy The college attr&ts pro¥ective studenis by." Delivering hh quality educah"on" Maintaining Outstanding success rates anLI 9oc¥J bnspecbon outcomes," Investing in stsffing and re50urees. Wilh ongoing commitment to quality. the cdlege wovides high quality leaming enwronments for all the students. Fundraisin The colSe9e does nol Lhse external fundrai5W5. AM fundrabSiny undertaken dufin9 pwb)d was monitored by the Trustees. Plans for Fuiure Poriods The college's sludent numbers have increased steadily from 10 in September 2013 to 107 in September 2021. In September 2022 the numtrw ol commissKJnÈd pkcès is 103. The college facilities will cont¢nue to be develored art¢ further ¢al investsnent will be sought to fa¢ilirate this expansion. The coHege will join EdUcatn Impa¢t Academy Trust on 1 Sèptember 2022 as a wholly oWd subsidiary company_ The MAT wll provNle eduCatn to nearly 1.000 studenls in September 2022. Funds hèld as Custodian Trustee on behalf of othe Neither Wilson Siuart UCB Partnership Trust the Twst Board is acting as third party Custcxln trustees.
Th¢ Hl¥e College Ilomierly Wilson Siuart UC8 Party1$h[p Trus Yrustees. Rtport Icontinuedl Year Ended 31" Auyust 2022 Auditor In 50 far as the Trustees are awa.. there is no lVant audrt information ofthich the Charrtable Company's auditor is Unawa." and the TnJstees have taken all slep5 that they ought to have taken lo make themsd¥es aware ol any relevant audit informatn and to establish that the auditor is aware ol thal inlormation. Trustees. report. lricorporab.ng a strategic reFtht was approved by order of the Board of truslees, as the Company directors. ort and signed on the t)ard's behalf by: Signed-. C. Hu$$ey Chair of Trustees
Th• Hiv• College Iformerly Wilson Stuart UCB Partnership Tru Governance Report Year End•d 31" Aug1 2022 Scope of Responslbility. As Trustees. we acknaedge we have overall resFonsibilrty lor ensuring Ihat Wilson Siuart UC8 Partnership Trust has an effective and appropriate System ol contr. financial and otheThvise. Howevef, such a system is designed to manage rather than eliminate Ihe risk of failuce lo achieve bu%ness Object and can provide only reasonable and noi absolute a55vr3nce against material misstatement or k15S. The Trust Board has ddegaled Ihe daY-ldaY responsibilty to the CEO, as A¢covntin9 Offr. lor ensuring financial controls conform wlh ihe requirements of tx)th prOprty and 9ood ffnanual management and in acrdanCe with the requirements and responsibilits.es asswJned to it in the lundin9 agreement between Wilson Stuart UCB Partnership Trust and ihe Secretary of State lor Educab"on. They are also responsible lor reportin9 to the board of Iru5tees any matefial weaknesses or eakdown5 in internal control. Governan¢e The inlowrnalion on governance included here suppkments that eribed in the Govemors. Repcgrt and Ihe Statement tsf Govemors. resFM)nsibililies. The Tnjst Board has met fom)alty 5 times t1uring the period to 3111AugLrst 2022. Attendance duTing the year at meeb.ngs ol the Trust Boatd was as follows.. Trustee Stephen Hughes Jon Harris (appointed 13151221 Debbie Rush Calvin Hussey Dave Bennett Alex Lofthouse Nikki 8rady Ire5rgned 4171221 Category CEO & Trustee CEO & Trusiee TnJstee Truslee Truslee Trustee Tw5tee Meetings Attended Out of a Possible A rewew ol governance was LdertakeN dLKin9 the yearvthich hjeftttfitd Ihai 2 Twstees hail missed 1 meeting each. Therefore 93.3% attendarKe by Tnjslees C¢)ntri1Ied to the t1i%Lrssions acted as a Crittsl friend. Subsequent to thbs Ihe following aclions wefe laken". Attendance of Trustees aitendance 15 publtshed the cdlege Trust websile Valid ieasons are oblained for any meeting5 missed Non-attendance at meetin9s was dealt with swiftly The Trust Board met 5 times during the year. Managernentaccounts a l$led io the frust Board portal to ensure the Board have maintained elfective oversight of lunds wrth fewer an 6 fe¢ommernded meetings per year. Trustees ale invited to view and ¢omm?nt on the acwunts and Ihe months revtewed is minuted at ea¢h meeting. Conllicls of interest are kirgely avoided by mainta.ning an up-tdate regisler of Businw Interests 50 Trustees are aware. Review of value lor money A$ Ac¢ounting Officer. Ihe CEO has responsibilty for ensuring that ihe colge delivers good value in ihè us¢ of public resour¢es. The Accounting Officer underslands that value for money IVFMI refers to the educational and wi¢Jer sociètal outGomes achieved in return for ihe tsxpayer (esources receNed. The CEO considers how the college'5 use of resource5 ha5 wovided good VFM dvring each academ year. and reports to the Board of Trustees where VFM can be improved. including the use of benchmathing dat8 wheie avai18ble. The CEO has delivered improved VFM during the year by.. Embedding $1 value and VFM in allstaff in Ihe college ro drive eff'encieS and eConoms. Review expenditure anrj COntrts in line vnth the QIP. making adjustments based on effectiveness ol strategies introduced in yevious years
Thè Hive Colle9e (lonnerly Wilson Stuart UCB Partnership Tt) Governance Report Icontlnuedl Year End•d 3191 August 2022 Continuou5 review ol the stslting strLKture', Securing extefnal funding for speofic and Kfjentifled PTojets". Appoinb"ng an internal auditor lo wov•Je assurarKe that the conege has 59und internal crmtrols: The Purpo$e of the System of Internal Conlrol The system of iniernal control is deggned to manage risk to a reasonable Ver rather than to elirninate all risk of lailure lo achieve polries. aims and objectNes. It can Iherefore only provide reasonable and not absolute assur8nce of eFfectNeness. The 5yStèm of intemal control is based on an ongoing prcrEss designed to idèntify and prioritise the risks to the achievement ol wllege's p)licie5. aim5 and objectives. to evalvale the llkelihood of those risks being realisèd and the impact should they be realt5ed. and lo manage them efficienuy, effectively and economically. Thè Sysiem of internal ntrol has bn in aCe in the cdlege for the period ended 31W August 2022 and up tr) the date of approval of thè annual report financial statements. CapacSty to Handle Risk The 8oard ol Trustees IHS rèviewed the key risks to which the ¢ollege 15 exposed logethtr with Ihe operating. financial and compliance controls that have been IMpmented to fflitwjate those risks. The Board ol Trusiees is of the view that there is a formal on¢ing prctess lor identifw'ng, evaluab.ng an¢J managing the college's significant risks that has been in pl for the year to 31# August 2022 and up to the date of approval of ihe annual report and rinancial statements. This process is reguL8rfy reviewed by ihe Board of Trustees. The Risk and Control Fiamowork The college's system of inlemal finanrial Contr is based on a framework ol regular management information and admIlstratiVe pr(Kedures includiThJ the seggatn ol dubes and a system of deation and accountability. In pani¢ular, it indudes.. comprehensive budgetirvJ and monitrKiThJ systems with an annual budgel and period financial portS which are reviewed and agreed by the Trustees." iegular rev¢ew5 by the Trust Board of reports INde financial pÈrformarKe againsf ihe lorecasts and of major purchase plans. capiial wotks and eXndItre programmÈs-. setting targets to fflea5ure financial and other perfofmanGe'. clearly defined purchasing la5Sèt purchase or ca"1 inve5tmenl) 9uidelines-, delegation of authtirity and se9regatson of dubes". idenlificalion arnd management of risks. The Trustees have considered Ihe need lor a Speci iniemal audit fvnction and have decided to appoint S4S as an inlernal auditor. The internal auditorfs ro Indudes gNing ad¥e on financial mattèrs and performing a range ol checks on the ¢ole's finarrial systems. In partular the checks carnd out in the current period included.. lesb.ng of payioll systems testin9 of purchase systems tesb"n9 of contrd accounts i bank reconciliatb5 The intemal audiiof produ bRnnual rerx)rts whth a presented to Trustees the opera[ of.lhe systems of control and on the disch3r9e of the Trust Board's financial responsibilit$. Thère were no material control issue5 irKluded in Ihe intemal audit rep)rts prepared and presenled to the Trustees during the year. The exterrtal auditor will presenl the Sl*utory Accounis in November ol each year. Page 10
Hiv• Co11•9 Ilonnerfy Wilson Stuart UC8 Partnershlp TntI Governarnce Report l¢onlinuodl Year Ended 311 August 2022 R•view of Effectfveness As Accounting Officer. ihe CEO has responsibifity for reviLYin9 the effe¢tNeness of the system ol intemal Lxjntrol. During the period in quesb.on the review has been infomed by. the work of the internal auditor throughwt the perK)d". the wofk of the External audrtor" the work of Ihe Leadership TeJn who have resFonsibility ts the developmenl and maintènance of Ihe internal c(trOl framewor The A¢eounlin9 Offiw has been adSed of the implicat)n5 of the 1t of their rewew of ihe sy5terD of intemal control by the Trust Board ar ensure conb"nuous improvement ol the system is in 3¢e. Approved by ordw of the rnemtws of the Trust Board on behalf by.. l ( and sbJned on its Signed.. Signed: C. Hussey Chair of Trn51ees Jon Harris Accounting offer Pe li
The Hlvè C¢llege Ifornierly Witson Stuart iIC8 Partnership Trust) IA Company Limited by Guarantee) Statement of règularlty, propriety and compliance for the perlod tnded 31 August 2022 A5 accounl¥ig officer ol Tho Hive c¢Iege I have my responsibiltty to notify the xademy trust t•)zrd of Irustee5 and the Education and Skills Funthng Agenty IESFAI ol rnateri irregulanty. irnprowiety and non- eompli8fi¢e with terms and eonditions of aH fuThJin9 received by the academy trust. under Ihe fundiryj agreement in place bethen the acaderny trust and ¢he Seuetary ol Slate for Education. As part of nry c))n$iderabon I have had due regard to ihe reAlements of Acadeffls TN8t 2021. l confiftn that l and the academy trust board of Itte5 are able to identify any material irregular or Thproper use of nds by the academy Imst. ty merial f-comF17n¢e Tmlh the m5 and coThthtion$ of fuThJin9 under the aca¢Jemy trust's funding agreent and the Academies Trust Handbook 2021. I confirm thal no Instan ol material ¥regU"ty. ¥i¥wriety or fund9 nw-c¢plW Pove been th$w¥ed ict dale. If any instances are identified after of this $tatemen( thes vrill be nob.fied t> the tKsard of Iruslees and ESFA. Jon Harri5-Accountlng Officr Date". Page12
The Hive College Ifonnerly Wilson Sluart UCB.Partnership Twstl (A C9mpany Limit•d by Guaranteel Statement of Trustees. responsibilities for th¢ period •nded 31 August 2022 The trustees Iwho a also the dffec Cf Ihe charitae company for the purposes ofcornpany lawl are responsrble for preparing the TnJ$lees' Report and the finanual statements in aeCrffdar tre adeMIeS Accounb (lireclion published by Ihe EdUtIOn and Sk411s Fundiry Agery. United lQngdorn Accounbng Staryjards (United lfjngdom Generally Apted Act4)unD"n9 Practice) ¥ykable Law regtiN. Company law require$ trustees lo Fware finwal $taterneN$ for eh natal year. Under ¢onpany law Ihe frustee5 musl nDI approve the financial slatements unless Ihey are sati$fd that Ihey gNe a true and fair view of the slatÈ of alfair5 of the th3ri1abl• company and of its incoftrrin9 resources and apal ol resources. indLKling its income and ej[penditu fry Y1 perT(J. In wew¥ig these fina421 518mts, the trustees are rewired to.. select sLN1ae attounting poh.oes and then pY them wisistenty. observe the rnethc4Js arwj priwple5 in the Chorthes SORP 2019 and Ihe Ac•Jemw Ar£ounls Direct 2021 to 2022.. make judgements and accounbrg esbmas that ale reasats1e and prudent.. state whelhef appliUb UK AGcwnling 5tandard5 have been frAl¢Aved. $ubied lo any rnaterial d?rtUreS disclose¢J and eXplae¢S in Ihe financial staiernents." arKI prepa¥e the finanaal Staiernenls the goi concem basis unsS It is inapprowate Io Presume that Ihe charitable company wll CDntsnue in bUSeSs. The trustees a responsie for keetxr#J adewale accounb.ng reCts blat are sufficiert lo sh(pw and explain the ¢haritoble ¢ompany'$ traDsxlx)n5 and disd05e with reasonable xcuracy at any bme Ihe finanra poytson of Ihe charitable company and enab them efi$u that the finarLo4 siatemenfs c(Mnpty ilh the Companie5 Aci 2006. They are also re5pcn&ble for safeguarrfiryJ the assets of Ihe tharitable wxp•iy and hev¢è for takrry rasonabl• steps fof the preven7 detectrjn of frau¢J and other ifTe9ularities. The iruslees are SpSible for ensuring that its conducl and r)peration Ihe caritable company apph.es an¢al and olhef Contr$ v4hich conlomi wilh the requiremen15 boih ol kryriety and of financial rnarsagemenl. They are also responsible for enswin9 9rants teceived frtyn the ESFh4DE h•b been awied for Ihe purposes innded. The Irvstees are responsible ffx ¢he rnainlenan¢e and In{ of the corporate artJ fmwnryal infomiation widuded on the charitable company's website. Legislation in Ihe United lfjngd(m govenw the pfeparatim and disserninath of financial statement5 may differ from le9l$lab"c otherjurisdKIiws. Ilz{Zts&Z Approved by oriJe¥ of Ihe members of Ihe twl of trvstees .................. . . ............. . behalf by.. . w)d signed its .. C. Hus$ey- Chair ol Trustees Page13
The Hive College {formèrly Wilson Sfvart UCB Partnership Tru$V IA Company Limited by Guarantee) Indèpeftd•rt Audltoes Report on th• Financial Stst•ments to the Membern ol The Hlve college Ilonnerly Wi150n Stuart uce Partnership Trusti OpTnlon We have audited the finanoal statements ol The Hive Cc4lege (the 'academy tru5VI for the year ended 31 Augusi 2022 which comprise Ihe Slatement of Fin¢11 A¢t1Vtb. the Balance Shee( the Siaternent of Ca$h Flov•s and notes to the financial stalements, incJding a summary of significant accounbng policies. The fina1#1 reporlEn9. framework that has been applied in their preparalion is applKable law and Llniled lfjry¢k)m Accounting Standards Iunited Kingjorn G?neralty Accewl knOting Practice) WdIng Finanoal fteporring Standard 102 "The Finantyal Repoth"ng Standard applicable in the IM and Reputit ol Ireland" Ihe Charilies SORP 2019 and the Adene$ Ac¢wnts rectiOn 2021 to 2022 issued by the Edu¢abon and Skills Agency. In our wn•Jn the finanoal statemerts.. give a true and l•r VIEW Ot the state of the academy tru5f5 affr5 as at 31 August 2022. and of its irOrning resource5 ar appltwion of reswr¢es. dud1r9 ils incfft al expenditurt. lor the perK)d On ende have been properfy prepared In awdance wilh United 9Orn Generally Aepted Accounting Practice have been prepared in accordance the requirements of the Ccmnpanies A¢t 2KG. Ihe Charlies SORP 201$ and Ihe Academies Accounls tJKeLkn 2021 to 2022 issued by Ihe Edtr.n and SknILs Funtling Agency Basis for opiniijo We ducted our audit in accrKdanca IntematiMal SlaThJards on Audibng IVIQ IISAS IUK>I and applirable law. Our reS$11185 undw those standards e further descbed in the Auditors rÈsponsibilthes lor the audit of the financial $tstemenls se¢Don L)f our report. We are dePendent ol the academy tnjst in accordance 1h Ihe elhical requirements that a fekvant to our audit of the finaroal staiements in the UK, irKluding the FRC'S Elhical Standard. and we have fuffilled our ¢ther re$w$"15 in accordance IMth these requirernents. We bdieve that the audit eviderte we have ot4aiie(l Trs SUffrtit anil approwats to provide a bags lor wr On)rt. Conclusions relating to going eoncem In audibng Ihe finanoal stat8ments, we have conduded Ihat Ihe trLL8tees' use ol the gOg concern basis of aOUntir in the preparalion ofthg financ4al $lments ts apkYopria. Based on the we have perfmed. we have not idenbfied any mateiial ertaIntieS relating to event5 or conditions that. indIdalty Lv colleclivdy. may cast 5ignifi¢3nl doubt on ihe xademy iru5f5 abilty to witinue 35 a cO8M for a perKd of at twdve month$ fron when Ihe finanoal statements are aulhorise¢ for issue. Our respty)sthilth$ and the reSp'1e5 01 the tsustees ilh resped to Ing concem are éescribed in the relevant se¢lions olthis p(¥1. Paye 14
rhe Hive College Ifornierly Wilson Stuart UCB Partnershlp Trust) IA Company Limitsd by GuaiantÈel Indèpendent Auditors R•port on the Financial Stat•ments to thg Members of The Hive Colleg? {continuedl other inlomiation The other Informa0 tsynprise5 Ihe tormati induded in ts trustees report. other Ihan Ihe finan¢1 statements and our aUlIr.5 rewl ther8on. The Iru51ees are respm&e lor Ihe other information ccntained bth the annual report. Our opiniDn on Ihe finanual stslemen15 ¢5)es not cover Ihe olher infornation and, except to the extent othelwse exPl1Y stated in (wr rt. we do nol express any frffrn of assurance condu5ion thereon. Our responsibility is to read Ihe olhef ffil0rnEt antl. in thng so. consiLler Yhthether the Olher inform•ton 15 rnaterialty inconsistent with the financial Statements or wr kne obtained in the Course ol the audit or otheA¥lse appea to be materially rnisstated. 11 we vjenb.fy suth matwial inf3)nsistenaes or appawt material rnisstatements. we a required to deterrnine whether this gives rise to a material misstatement in Ihe finanL¥al statements themse5. If. ba5eil on the work we have performed, we condude that thwe 1$ a material ffsstalefflent ol "$ other nf0mial1c. we are required to report thal facl. W8 have nothing to f8POrt in this re9ard. Opinlon on other matter pregrVJwl by the Cornpanies Act 2006 In opinion. based on Ihe Irk uTrJertaken in the cryjrse ofthe 3j e irnforrnabon given in the trustees. rewt Ir•>Jwating the strategrc report and the dectors' reFOrtI fot the financial year fw whKh Ihe financial slatements are wepored is cr#IS1¢nI the finaftual staiem". and the strategic rewrt and Iht dtyedoYs' rEw1 have Ixen wepared in atance icabk legal requirtrnenls Mattors on whtch we are requlre<l to trt by ¢xe•ption In the light of the knowledge and undefslarn"n9 of Ihe academy and ts enthronment obtained in Ihe ¢outse of the audit, we have not Identified matenal misstalewts in Ihe strateg Ptyt and Ihe dire¢ttys' rEWt. Vve have nothing its rewrt In resFed tsfthe fdl)wrt'ThJ matter5 in rela1n to Ihe Ccrfnpanie5 Act 20C6 requires us to ieportto you rf. in our opinion.. o(Iwu 3ccounknJ reECd5 have not teen kepL or the finanual 51ments are nol in agreement vmh the aoUn reD)rds and rern5'. or certain disclose$ of tru5tees' rerThJMBtion specifd by law we Th)t made.. < we have nol re¢eNefl all the informalK and eWan¥ions requwe trour a. Pa9E 15
The Hlve Collège Ifomierly Wilson Siuart UCB Partner4knip TTUSt) IA Company Limrted by Guarantèe) IndÈpend•nt Auditorfs Report on the Financial Statements to thè Membèrs of Thè Hive College {contlnuedl Re5ponsilMlths of In1• As e3d fulty thE trustees. responsiltieS statemeni Iset page 131, the Ink51885 (who are al$0 the directors of the charitable C(panY the purposes of company l¥) are respon&ble for Ihe weparats.on of the financial 5taternent5 and for bwn9 satisfied that they gNe a trt an¢J fair vivw. and for such intemal Conlrol as the trustees delemine is necessary to en•We the ryeparaiKn of finaryial statemEnts Ihat are free from material In preparing Ihe finanoal 51aiements. the Iru$iees are re$wsibte lor assessing Ihe charitabb8 conyany's ability to ntinue a5 3 gL¥ng COCrn. th5doyng, as appc4b. matters ieiated to 90ing cern and using the going ¢oncem basis of ac¢ounlin9 unless Ihe trustees eilher intend to liquJate ihe chiiable ccffjpary or to cea$e operations. tsr have no wli$ts"c atternabve butto do so. Audito$ SpOnSIbIlItIeS for the audit of the financial statem•nts Our obje¢lives are obtain reaswble a55uran¢e at ¥thEther Ihe fin¢ial statements as a vhwye are e fvom material missialemenl Y4hether ue to fraud Ix errry. and to issue an audirorfs report ihat In¢lude$ oyr opinion. Reascfiable assucance is a high Ve1 of assura. is not a guarantee that an auért ¢eted in acccKdanr with ISAS IUKI will aP•Rys deteci a material misstatemeni hen rt exists. Misslatements can arise Irorn fraud or error and are considered malerial if, indmdualty in Ihe aggregaLe. ¢ouh3 reasonably be expected to Inluence the econ¢)mic decisJn5 of user5 taken cffl the bas5 of th85e finanual ststements. IrreguL4rilie5. induthng Iwd. a inst5 of rmyFc¥xnplice vlith lart5 regulations. We de5vw wo¢eleS in line 1 our resp¢yTrsikn"Fities. Qydined •bLwe. t¢ detect rnerial mi5siatements in re4)e¢t ot ¥regularil$. Miduding fvaud. The extent lo which our procedvrE5 are opalle of dete¢lng irre9ularihes, indwlitvj Iraud 1$ detailed below". We revivwed the academy 5 Contr 2nd iisk management proce(lures and anned ovr work based ouf assessrnent of those controls and procedures.. ThSs VIeW inde an assessmenl of Ihe risk ormaleI Irrfsstaiemenr due to errots. fraud and management overrid¢ of ¢onirols for all mari•l as in the finan¢i•l st•tements'. We made enqlle5 01 rnanagement and the academys laffjers re9ardiry any aciual or pcrfential lthgafion andlor claims". Financial $latemenl$ dts¢losures ¥¥ere remewed arKI thedted for cvrnplrance th applicab laws". Oetailed testing was conducted on balances and transa¢tKJn$ IldIng Unusu ims and those of indNidual significance to Ute financ4al statements". Data nyC$ were used in order to Klentrfy or ssgniknnl trend5: Communications %%ith rnanagement and Ih¢)se thar9ed govemance iegardry relevant mthr5 was ur)dertaken mf(whout Ihe audit and thi •bon. eecause of the inherent limitations of an there is a iisk Ihal we 11 not detect all irregvlaribÈs. including those lea¢Jin9 to a rnaterial N5Statement in Ihe financ4al statements or r-MplIR th wulati¢fi. This risk increases the rnore Ih¥i compliarto with a I4 or re9ulabon is removed from Ihe events and Iransarlions reflected in the financial stalements. as we %ryll be les$ likdy to bec¥)ffle aydre of inStsn5 of non<ornpliance. The risk Is also greater re9arding ifteguLarities occufflng due to fraud rather than eOr. a5 Irdwj inthes Intential concealment. forgery, collusion, cYissiM or misreprewlatstyi. As part of an aud*1 in aEcordance vfilh ISA2 IUKI. exercise prolesswa judgmenl and mainiain piofessional srepticism throOut the wdil. We a150'. Page 1fj
The Hive College Ifornierly Wilson Stuart UC8 Partnership Tntsti IA Company Limited by Guaiantee) Independent Audltovs Rèport on the Financial Stat•m•nts to the IA•mb•rg ol The Hivè Coll•g• {continuedl Auditorfs r•sponsibilities lor th• aud1¢ olthv finon¢i•l $taternents Icontlnuedl Identify aThJ assess the risks of materi4 mBstalemeni of firwwl staleftwits. Tmhether due to fraud error, design and perform audit wttedures reswnsi¥e trj ihose risks. and oblan audst wNlence thal 18 suffKient and appropnate to provide a baw5 for our opnion. Th? of not delecbn9 3 rn3n31 misstatet results'ng from fraud is hffJher Ihan for one rèsu.9 from ettty. a5 tra m•y Invo colhAKJrt. lorgffjy. Intenbonal um15ns. misrepresenlakns. w the override of M)t¥nal ¢ontrd. Obtain an understanding of internal control leVant to the order to deSff aL¥X prdIe$ that are appropriate in the orcurn5tances, bui not for Ihe purpose of exwessing an tyirtn the effe&"¥enes$ of the charitable companl5 internal ctr. Evaluate the appropriateness of accouniry FdKies used Ihe Sonab1eness of 2CtMliry estimates and relaled disd05ures made by the lrnstees. Conctyjde the approproW9 ot Ihe tmstees. use ofthe 9tyng eorem l)asBof a¥ting and, based on the audii evidence obtained. whether a material unwiainty e$ts related events ¢ondib"on$ Ihat may asl 5ignificani do1 on the tharitat4e cthmpany s ability tinue as a going corKem. Ifwe condude Ihal a material uncertsinty eIs. WE are iequired io draw attention in our audito¢s report to the ¥elated disclosure$ in the financial slatement5 or. rf suth di5dosures are inadequale. lo rnodty our OTrI0n. Our wndusions are based on the audit eence obtained up lo the dale of our Jd11$ Pt. H¢ywÈver. future Èvents or Evaluate Ihe overall presentation. slruclure and contenl of the finartial statements. indudin9 Ihe disdosuces. and whether the financk31 slatements repyesent the erlY9 transacbons and events in a rner that achieves f"r presen110. We comm1c4te wlh tlSe (Arged 9tsvtrnance regardwy. am9 ¢Aher maitws. the pLanned scope and liming of the audit and svJnifi¢aht fiNliry5. AKawlin9 any signiftant def•ncaes in ternal ¢ontrd that we identity during our alIt. Use of our report This report is rnade solety to the academy tnJsf5 members. as a bc#. n zcurdance with Chapter 3 of Part 16 01 the Companips Act 20C6. Our audil wryk ha5 been ldertaken so that we might stste 10 ihe charitable cornp2nf$ member5 IhD5e matters are required to 51ate tD thErn in an auditorfs report and no other purpose. TD the fulle51 extent pem)ilted by law. we do not aeLept or assume respontMlity to tslher than the atademy lrntsl and the .academy trusys mernbers as a bcrfty, for our audrt work. for this wtyt or for the own)ns we have lormed. David W Farnsworth FCA (Senior Slatutory Audliorl For and on behaw of Fettons. Slatuw Aaitor 8 Sover&gn Court 8 Graham Street Birmirngham B1 3JR Date '. Pap 17
The Hive College Ifornierly Wilson Stuart UC8 Partnership Tru) IA Company Limited by Guarantee) Independent Reporting Accountanfs Assurance Report on Regularity to The Hive College and the Education and Skills Funding Ageney In accordance wilh the lerm$ of our engagement letter dated 22 March 2021 further to Ihe TWreMentS of the EduCatn and Skills Fun(hng Agency IESFAI as included in the Academs Account$ Direction 2021 to 2D22. we have carried out an en9agement io oblain limited assurance abcut wthether Ihe explitUre disburs and in¢c¥ne ceived by The Hive CoMe9e during the per#)d 1 Septernber 2021 to 31 August 2022 have been applied to the purwjses identtfd by Paiiament and traraCtionS confonn to ihe auuyrtiS govem th. This report is made $ety to The HNe College and ESFA h attLYdance Ihe terrns gf our engagement letter. Our work ha5 been undertaken $0 that we mwjhl $tate The Hive College knmited aTr3 ESFA tIKsse rnatters we required to slate in a report and for no other rw)o$e. To the fullE51Ptent pem)itted by law. we do not accept or assume responsibility to anyone other than The He LThited and ESFA. for our for this report.:or for the CccluSIon we have fom)ed. Resp•¢tiv• r•sponsibilitles of Th• HI CoU89•'5 accountiry officer and th8 TrpOn9 accountant The accounts'ng officef is respjnsible. under the requirements ol The HNe Colege's fing agreernt wth Ihe Settetary of State Edwaiion dated 1 August 2016 and the Academies Trust Handbc. extant frorn I September 2021. for ensuring that expenditure dithjrsed ana in¢¢)me ceiVed is apie4 frjr the purposes intended by Parliament and the finanoal trnn5act9 Conf7n to the aU1hr$ which govem them. Our responsibilite$ for thi5 engagement are •51abli5hed in the Unifed Kry4¢)m by our k¥ofe$$ion's ethical 9UKlance and are lo obtain limrted assuran¢e arnl repc¥t in accordance wth our engagement lettef and the requwemenls of the Academies Accounis Direction 2021 to 2022. We port to you wAther anythin9 has tome lo attention N) carrying out work which suggests that in all material respe¢t$. expendilure disbur and Iorne received during the period I September 2021 to 31 Augusl 2022 have not W apie to PurSe5 Intended by Pliament or that the financid transactions do Th)t eonlorm to the aUthlIbe$ go¥ them. Approach We ¢onduded our eThJagement IA accwdance wlh Ihe Frarnelth and GuM1e E¥temal Audrtors and Reporting Accountsnt of Academy Trusts i$sued by ESFA . We perfornd a I"mited assurance eagement a$ defined in our engagement letter. The obje¢lAie of a limited assurnrte engagemeni is perfm s[ wttedures as lo obl•n infi¥mation and ewlanabons in ¢)rder to provKle us ith suffKient awwiate eviderte to exwess a fgalwe ndUS1on on fe9ularity. A limiteil assurance en9agement ¢ more limrte(I scope ihan a reasonable assurance engagement and ¢onsequentty does not enable v$ io eètain a5suran¢e Ihat we vJid bOrne aware DI all signiftanl matters that mighl be Identi in a rea%)nable assuwKe tywagement. AttorfThJty", do not exp$$ a p05iti¥e opirnon. Our engagement in¢ltyS examinalth). ¢) a te$1 basis. of evhnce relev• to the regulan.ty and prwety ol the a¢a(Jemy trusfs Income and expervlitwe. The work un(lertaken to draw our ifidudes: Con%deratN)n of the appfice le91sts1 aTrJ the academy trusfs hJndin9 agreement Review and evaluatton of the a¢adery trusfs system of intemal ¢onirc4s Exarnination and assessment of Ihè ACcOL"r¥J Olkerfs statement on Re9ularity. PrOtY and CTrMph'anr Examination. on a iesl ba$bS. ol third pwty eviden¢e supporting cOme and expenditure Review of exceptional and unusual rtems Page 18
The Hive College Ifomierly IYil$on SttHrt UCB Partnewship Trust) IA Company Limited by Guarant•¢} Independent Reporthng Ac¢ountanf$ Assurance Report ¢)n Reyul•rity to The HTV College and the Education and Skills Funding AgÈney (continuedl Conclusion In the COUfSe of Work. nothing has eome to Jr attenbon suggests Ihat in all material peCtS the expenditure disburse(l fftcome received during Ihe period I Seplember 2021 tD 31 August 2022 ha5 not been applied to purposes inlend¢d by Parfiament arKI tl financial IrSactlIS do conlDrm to the aulhorthe$ *thich govem thern. Davld W Fam$worth FCA (Reporfiny Accourrtantl For and on behalf of Feltons. Slatulory Auditor 8 Sove19n Court 8 Graham Street Birmingh B1 3JR Oate . Page 19
The Hlve College Iformtrly I150n Stuart UCB Partnership Tntst) IA Company Limitsd by Guarafttetl statement of IlhakKlal aGlivitie5 for the year ended 31 Auyust 2022 lincluding income and expenditure account) nstrkI•d p•kn1 gPTrtNI •sHt full lyndl Totsl 2021122 Totsl lo121 Irom.. DonaOn$ aThJ capital grants ¢haritablB acllwlip5' Fundiry for the academy trf5 eduGilional opeiations Inv88hnents 4.570 63.5B? fj8.152 41.810 2.841.672 2.872.02 157 2.41J.123 157 Total 35.083 2.841.672 63.582 2.940.337 2.455.039 Expendltuvg0n= Chaniab aClive5'. ¢ademy edu¢a)n81 28.922 297.(th 2.117.253 89.341 2.532.516 2.075.971 Tctal 28.922 297 CO) 2.117.253 89.341 2.532.516 2.07S.971 Net Incomllexpendltwel bptw• irnnsl•rs 6.161 1297.( 724.419 125.7591 407.821 379.Cfj8 Tran$fws berrtw funds 13 1582.8731 562.873 Net incomellexpendltw•l aftai afjslers 6.181 141.ys 557.114 407.e21 379.068 Other recognlsed galnsl¢loss•s1 Actu8Th•19•inyJllossesl on defjnJ bÈnBftt 5ch¢n5 13. 22 792.1 792.ryJ IY4.OfX)I Net movement In funds 8.161 495.(¥JJ 141.$46 S57.114 1.199.821 265.068 Recon¢lliat6on ol fvnd$ T)tal hd$ brought flId 13 6.522 (•63.1) 1.170.728 529.447 1.D43.697 758.629 T¢xal lunts carrfed for•Mrd 12.683 I168.x)I 1.312.274 I..$61 2.243.S18 1.043.697 AJI of Ihek•Jeffly'5 actIMlsdNe 1rcfflcthibnlmr opo¢ai¥yo w* abo¥e tfinancIal wrDJ5. Page
The Hive College Ifomierfy Wilson Stuart UCB Partnèfship Tfusti (A Company Limlted by Guarantee) Company number: 09687904 Balance sheet as at 31 August 2022 2022 2021 Fixed as$•ts Tangibje assets 10 1.C68.469 529.447 Curreni¥sset8 Oebtors Cash al bank and in hand 347 253 2.072.625 2.419.678 169.089 1.327.922 1.497.011 Llabilltjes Credilor5'. amounts falhng due wlhin one year 12 1.076.829 319.761 Net current assets 1.343.049 1.177.250 Total assets kss cuNent lbIlI11es 2.411.518 1.7C6.697 Dared benefit pens scherr I4?ty 1166.(t#Ji (663,COJI Total net assets 2.213.518 1.043.697 Fund8 oflhe academy trust: Restricted funds Fixeil a$$et fvJnd Resthcted Inc4) Pen reserve Total rstii¢ied lurtds 14 14 14 1..561 1.312.274 1168.(MJ)) 529.447 1.170.728 663.rKJJi 2.2x1.835 1.037.175 Unrestricted tncome funds 14 12.683 6.522 Totsl funfls 2.243.518 1.043.697 The fiftantyal staiemenls on page5 20 to 43 w aFyo¥e(I by the Injsiees. aTrl zuthon$ed lot i$5ue on {.14.1..&o Z £. . arLd are Sne w Iheir behrty. C. Hu55ey. Chair ol Trustees Pèje 21
The Hive College {formerly Wilson Stuart UCB Partnership Trust) IA Company Limitsd by Guarantee) StstsmeTrt of cash flows for th¢ year ended 31 August 2022 2021122 2020121 Cash flow5 frorn operntin9 acti11e5 Net cash provided by operating actMI 17 1.309.326 526.132 Ca8h flows frorn InvesVn9 acvIll 1B IW.623) 1187.9421 chan in ¢ash and ¢ash oquivalents In tho reporting period 744.703 338.1 Cash cash equNalents * I Sepiember 2021 1,327.922 989,732 Cash and ¢ash equl¥alents at 31 Augusi 2022 19 2.072.625 1,327.922 Page 22
The Hive College (formerly Wilson Stuart UCB Partnership Trust)
{A Company Limited by Guarantee)
Notes to the finanelal statem•nts for thè year ended 31 August 2022
l. Accountins pofici
A summary of the wwKipal accounting policies adopied lYM¢h have been apw c4n5i5knUy. excepl t•there
nole
The Hive Collgge Iforniefly Wilson Stuart UCB Partnèrship frust} IA Company Lirnited by Guarnntsel Not•s to tho financlal statèmènts for the year ended 31 August 2022 IcontiAtsèdl 1. Accounting policlès Icontsnuedl 1.3 In¢om• Icontinuedl Other in¢on Mher in¢ome, inctuthiThJ the hire ol faulibe$. is re¢ogni$ed th Ihe period Ii 1$ receiva8 and lo the extent the oc•Semy trust has provthd the goods or services. Donatd goods. l•ellltles and servic•5 Goods donateil lor re$ate ¥t induded al fair value. bein9 ihe expectsd wLeed$ from s less the expected costs of sale. If it 15 practIc to assess the lay value at receip( il is rewnised in'stocks, and 'Incwne Irom Other Trading Ae$.. Ukx)n sale. Ihe vakle of the sio(a is Charged against 'lncom from Other TradiThJ Actiwties. the wtyeds are recwwsed as 'ln¢tyme from Other Trading Activitvès,. Where rt is impradtcal LO fair value the items due lo the vohjme of Irhv value ems they are not recognise¢l in the financBI Statern bI Ilw are sc4d. Tlws income is recognised witlmn'lncome frtyn OLher Tradin9 Acti15.. Donatod ffixed assets Where Ihe donated good 1$ a fixed asset it 15 meagJed at fait v•ltA. uhles$ il is UnpraCal to nwsuf• thi$ retiably. in whh cast Ihe c05t of ihe item to Ihe donot $hwkl be used. The gain is recognised as income from donat5 and a cotreswxxth.ng amounl is included in the appropriate fixed asset caie90ry and depiecied over the u5efvl eOjrthi lrfe irb actordartt wlh the academy trust's act(yJnting poloes. 1.4 Expondliure Expenthtijre 15 recogrmsed once there is a legal u C(strucVe ob14gatw to transfer econom¢ knefft lo a thwd party. it is probable thai a transfer of economic benefits 11 b? raquwed in Settrnent and Ihe arnounl of Ihe otyigaD"¢)n can be rneasurBd reliabty. ExpeTrJiture is cla5sffied by athwty. The c051s of each a¢hvity ate rnade up of the lolal of direct co$t5 and shared c051s. indudrng supW u)sts iniolved in undertaking each activity. Direct costs attrirtable to a ngle a¢Dvrty are allocated directy to that adivrty Shared rA)sts lNch eonlnbute lo more Ihan one activity and SUFg0rt csts ¥¥hth are rKsl altributable io a $gle a¢¢rwty are appNtioned befv4een lfv)se aclNilie5 on a basis ccxisistent the use ol resources Central Staff costs are allocaied on Ihe basis of time spent, and depreOab"C charyes Xaled on ihe portsn oflhe asset's use. Expendilure on raising lund5 Thi5 Includes ¥1 expeTrJilure incwred by the acèjemy Imst to raise fuThJs lor its charltsble purposes and inChjd ¢osts of al bjndratsing acb¥thes events aThJ w-charlte Irèthng. Charitable activities These are costs intrjrred the 3derny Iru5fs ethJcalp)nal OperalpS. induding supp¢t costs and ccists relabng to the go¥emae of the academy trust apportio to tharrtaNe a¢tNthes. All reswrce5 eypendvd are indu5bve ofwrecoverat4e VAT. Pag? 24
The Hive College Ifomitrty Wilson Stuart U¢8 PartrShIp T$t) IA Company Limited by Guarantee) NatÈs to thè linanciAI ststem•nts for the year ended 31 August 2022 Icontinu•dl 1. Aceountin9 Oicips Iconliw•dl 1.5 Tanglble fixed assets A55ets COSbng £1.000 or rrN)re are cwtalised as assets are ¢affied at cost. nel of depciatiOn and any provision for irnpaimwnL Where tsngible fixed assets ha¥e b88n acquwed aid of spepfic wts. •ther from the govemm8nt or fiDm the PTivate 58ctor, they are irlUded in the 8aWce Sheei al cost and dewe¢4ed over Iheir expecte(I u$efrJl economic lile. Where there are speofic conditions atiached to the fundlng requiring the continued use ol the a55eL the related grants a credited to a restricted fixed asset fd in Ihe Statemenl of Finanrial Activiti?5 and Carried Imord in Ihe 8alan¢e Sheet. Depreeiatw the rewant assets is c8rgEd diredy to Ihe re$tri¢ted fixed a$5et lund in the Siatement of Finanual ALtie$. Where trrybie fixed assets have been acquired with unrestricted funds. deFKeciabon Jn Suth assets 1$ chargÈd to tr unlricted fund. Deprec4ation is pro¥KJed cffj all tangibte ftted assets olher than freehokl 18n(l and assets urth C¢>tructiOn, at rales calculated lo write off the cost of each asset ¢)ver its expected useful lrfe as follows.. Long lea5thYd bLHWin9S FUrThtU and ewipmenl Cornpther harthvwe Motor vehKles . straghl Imr SO yea - Straight IM 33% stia¥ht line . 20% $ti3wJht bAe A5se15 in the cou(s8 of construclion e induded ol cxjsl. DeFweuation rjn Ihese assets 15 not tharged unbl Ihey are'brou9hl iThlo use and recla55rfied to frEEMd or kasehold lond and tAMklir¥Js. A review for impairment of a fixed asw carried ¢xrt rf events thanges in (1M$tanceS inthc that Ihe carrying valLte of any fixed asset may not be re¢over#Jle Shortfalls beknn the carry9 value of frAed a$$ and their ¢0¥9¥ae alnounts are recognised as irnpainents. lrnpairrnenl h)sses ar• recognised in the Staternent ol Financial AciiviDes. 1.8 O¢btors Trade and other debtors are reuJ9nised at the SetUeM amount after any trade disco1 offered. Prepaym8nts are valued al Ihe zmounl prepaK1 net ofany trade di$ts d. 1.7 Cash at bank and in hand Cash at bank harJ includes cash and short-terni h¥hty Iyihy yes1rrErIts WFth a sl)rt rnaiurty of three monihs or les$ frorn Ihe date ol acquis1 oroFerffig ol Ihe depjst or sirnilar a¢Krt. 1.8 LlabJllti¢s Liabilities are recogThsed when there ts an obrlgab. * the baance sheet date as a fegJlt of a past e¥ent. rt is probabl¢ Ihat a t13nsfer of econom benefft wll be required in SettMt. and the arnwnt ol Ihe setkment can be esb"mad relkgwy. Liabilities are recognised at Ihe aUnt that Ihe academy trust anbcipates rt ¥Yll pay lo sewe the tlebt or the amrthi r( ha5 r8¢eNed as advaed paYrner for the goods c¥ 5•rvw8 11 nyjst pro¥i¢Je. Paye 25
Thé Hivt College Ilormerly Wilson Stuart UCB Partn•rshtp Trnsll {A Cornpany Limited by Guarante•l Notes to thè financlal statements for the year ernded 31 August 2022 {continuedl 1. Accounting poltci•s Icontinuedl 1.9 Leas•d as8•ts Renla15 under operating leases are ¢arged hne basis over the lease term. 1.10 FIna¢1¥1 $trumnts The ai¥derny trust only hd5 bas financkqt $trUMents as defined by FRS 102. The fincia1 a55ets and fjnanual liabille5 of the academy trust and Iheir mea$uremenl ba&s are as lollows .' Financftal ass9ts- trade and olher 11eblors are basi¢ financial in$truments and debl inslnwnents mea$ured al amortised Prepayment5 are not financrdl i051ruments. Cash at ljank 1$ ¢assbfied a$ a finwjal in5trumert aThl is measwe(l at frdix value. Fin8n¢i81 l1abth$- tyade ¢redkor5. a¢¢Juals aTrJ other crethtr5 we final in5trumBrts we measured ai amortised COSL Taxation and soual security are not indudBtS in the fifiaal instnjments dis¢k)SVfe definin. Deferred incwe is not deemed to bE a finantsal luit4"lity. as the cash sewemenl has atrea¢Jy tsken place and Ihere is an ¢jgation to deliver s1rS rather than ¢ash or financlal inslrurnent. 1.11 T•¥ation The a¢aderny trust is considered to pa55 ihe tests set out in Paragraph 1 Schedule 6 of the FIce Act 2010 thefelore it rneets lh defin1t1 of a thantsble company lor UK Corp¥t10n tax purpose5. Accordiryly. the academy trust is potentialy exempt from taxal)n in respect of irthme or eaF4al gains received wthin categorie5 covered by part 11. capier 3 01 the corporats.on Tax Acl 2010 or Section 256 of the Taxation ol Chaigeabk Gains 1992. 10 the extsnl thal such iNme ty gauls arè applied to charitable purpos$. 1.12 PenslLNI benellls Rets"remenl benefits w empkyees of Ihe academy trust are prOjeLl by the Teachers. Pertsiw Stheme CTPS'I and the Local GoveftNneni Pens) SLeme I'LGPS). These a defined b¥iefit schemes. The TPS 1$ an unfvnded 5dJeme and rnntrulw5 •e calcuLgled ts $pread Ihe cost of pen5¢Dns over employees. wtykin9 live$ with th• 3cadery tru51 st a way that the pen5w cosl is a $&)$tanlially level percenlage of ¢rrent and flrtute pensianaL4e payroll. The contrit)utions arè deierrnined by IhÈ Govemment Actuary on the basts of quadrenni81 valuabons Un9 a ky0sle uedit method. TPS is an LJnfunded mults".employer scheme ¥•ith no undety.ng 35sets lo teh¥een ernptyer5. Conse4uentty, the TPS is treated as a defiT ntribUt scheme for accDunbn9 purposes and Ihe ¢ortribuliDns rEED9nio in the period to which they rekts. Pa9e 26
The Hive College {fomierly Wilson Stuart UCB Partnershlp fru$t) (A Company Limited by Guarantepl Notes to the financial stat•m•nts for th• ar ended 31 August 2022 Iconllnuedl 1. Accounting poli¢ie5 (¢tinued) 1.12 Penslon benpfits Icontinuedl The LGPS is a tunled mtstt5-empkJyer scheme ihe assets are held 5eparatety from Ihose of the ar2demy Irust in separate tsustee administefed knds. Pension scheme as$gts afe measured ai fair value and liJbililie$ are measured on an actuarial ba%s Ihe yoieded unit iyedit method &isc4unied at a rate equivalent lo the currenl rate of reiurn on a 9h qualrty corporate t¥%)d of e4w¥lenl lem) aThJ curren¢y k) the liabilities. The actuarial valua)'ons are obtained at least triennialty and are ulated at each balance sheet date. The amount5 charged to net income1lexlUreI a the ojrrent semce costs ancl the costs of scheme inlr(rtluctions. benefrt thange5. sethemenis aThJ curtailrrEnts. They are as wt of stall costs as in¢urred. Net m)le$t the nel defined benefil liabthtyla55et 15 akn re(oJnised the Staiemenl cl Financial Activitie$ and comprises Ihe interest tost IhE defed befft 014igaboD and Inte$1 irKorne on IhÈ scheme a55ets. calcu131ed by mul1sw"n9 Ihe faw value of the sckne assÈls at the begiming of Ihe period by Ihè rale used to disc¢xJnt Ihe benefit oblig3tions. The dIffenCe betrw the terest inctime C the sceme 355eis and the aaual relum on tre sche assets i% rerngn1Se other recwised gains a1 losse5. Actuarial gains arn1 losses are rectsynised r[diatelY in ¢Jlhw reojgrwsed gan5 and losses. 1.13 Fund accounting Unfestricted Ir fijnds rewesent ihose res([ rnay bp used tffiVa meeting any ol Ihe charitable obJ"¢cts olthe acaderny trusi al the of the Irustees. Re51ricled fixed a558t lunds ¥e resowce$ whith are to be apled specik Capilal purposes imposed by fvnder5 where Ihe a55et acquired or rJeated is hels lor a 5pwfic purkw. Restricted genera fvnd$ Corn$e an 011 Stred funds receb¥ed th restrKtions imposed by the funderl(lonw and ind(Nle frw Ihe £Llats"( •)d Sknms Fthylirva Awcy or Department fw 1.14 Critical a¢¢ountin9 estirnatss and ¥r••s of ]$••nt E5bmale5 and judgements are cOnnUalfy evUated )d based histori¢al expewKe and olher fac5. inGltyYing expe¢talion5 c1 l(#JJre events Ihat we befieved to be reasonab utKler the oroJmarKe5. The academy trust makes estimate$ •)d asswnpwts Ihe luiwe. The results"rrfJ estimates and as5umptK)ns wij. by definthon. sethm equal the rdated aclual resutt5. estimates and a$5umplions Ihal have a sigrrificanl risk of Caus¥ a malerial adju51menl lo the ¢•nwng amounts of assets and liabilitie5 Wthin the nex1 financTal year are thscu55ed belLYW. The present vahJe of Ihe Locat Govemmw Pensh>) Scheme defined benefit Ik'lty depends cfi ¥ number of laetors Ihal are determined on atharial basis ugng a variety ¢1 aS$Umpti5. The assumpttons used determining Ihe net Cosl lincomel pe¢)n8 irtdude Ihe discounl rate. Any charrfjes in these 3$5umpbon$. which are di5dosed in note 22. wrill impacl the arnount of the pensw '31ty. FUrtherMe a roll loard approach whith projects results from Ihe latest full aciuial ¥alu8bon perf0m at 31 Mar¢h 2019 h85 been used by Ihe acluary in valuing the pensims lialylrty al 31 AugLt512022. kn drfferen¢es betsyeen the fi9ure5 derived fr the foll f•Mard apwoxh and a full actuarial valualion would impxt on Ihe carrying amounl of the penFion liabilty. Page 27
The Hive Collegè Ilonn•rly Wilson Stuart VC8 Partnership Tntsti IA Company Llmited by Guarantee) to th¢ financial statements lor the year end¢d 31 August 2022 {continued) 1. A¢¢ountlng poli¢ies l¢ontinuqdl 1.15 Agency arrangements The acèjemy trust arts os an agent disthbubng 1&19 trrsary fiJnd5 from ESFA. Payment5 received from ESFA and subsequent disbuisements tv students are excluded from the slalement of finanoal activie5 as the trust does not have contrc4 over Ihe ¢hariWe aprftsiion of the fvnds. The trust can use up to .. ..% of the allo¢alion Ii)wards rts rmn admiTh5trats"on costs and thi$ is re¢ognised in the aMe4)t of finartC4al acknvities. The lund$ rece8 and paKI 3ThJ any balarKes hek1 are di$dosed in note 25_ Pa9e 28
The Hive College Ilorm¢Tly Wilson Stuart UCB Partn¢tship Trust) IA Company Limit•d by Guarant••l Note5 to the financlal statem•nts lor the year •nd•d 31 August 2022 {continued} 2. Donations and ¢ipital grants Restricted 9enwal fvnd Restricted fixed asset lund5 Unr85tricied lunds 2021122 Tot•1 202W21 Totsl Capital grants ODftaied fixed asse Other donati$ 63.582 63.582 39.535 2.275 4.570 4.570 4,570 68.152 63,582 41.810 2021 total 2.275 39.535 41.810 3. F¥ndln9 for the Audemy Twsfs edu¢atitsna4 operatiorts R*stricled Restsi¢trd genefal fixed asset lund fvnds Ufvrestrlcl funds 2021122 Totsl 2020tt1 Total DIEIESFA yrnnts General Annual Granl (GAG) Other DfE Gr¢yJp granls Teachers pension Olhers 1.171.954 1.171.954 994,lYJ 1B.743 10.551 1.201.248 18.743 10.551 1.201.248 9,417 1.3.567 Other gov¢mmenlgrants Local authority 9ranlS Offter governmenl fundin9 1.614.747 1.614.747 1.32S. 7.055 1.336.409 1.614.7417 1.814.747 Other in¢ome Irom the academy trusfs educational operations Covid-19 additional funding IDIEIESFAI Other OfEESFA CovirS-19 fvn¢Jirv4 30.356 19.977 25.677 1.640.424 25.677 1.670.780 53.170 1,409.SS6 30.356 30.3 2.841.672 2.872.028 2.413.fj23 2021 total 19.977 2.393.146 2.413.123 Page 29
The Hivt College Iformèrty Wllson Stuart UCB Partnershlp Trusti (A Company Limited by Guaraniee) Note$ to th finanetal statem¢nts for th? year end•d 31 August 2022 Icontinuedl 4. In¥eslmentincom• unStrIcted Rstri¢ted funds hmds 2011112 Total 202W21 Total Short twm deposts 157 157 2021 total S. Expenditure Slaff ¢ts Non pay e¥pendlbJ P1$*$ 2021122 Totsl 2020121 Total AGadery¥y's educab0 OFeraln$ Direct 5t5 Allocated $upport costs 1.080.798 792.505 1.873.303 13.236 786.660 199.8 188.135 271.182 459.317 1.282.169 1.250.347 2.532.516 ?,154.928 921.043 2.075.971 2021 1•ts1 1.576.102 177.119 322.750 2.075.971 Net incomellexpendibjfel forthe peri&J 2021122 202W21 OpeTaiin9 leases Depreciat Fees payabl8 to auditor 592 89,340 4,450 $92 90.555 4.300 6. Charilable a¢tl¥hles Restricted Unrtstricw pension funds fund restricted lunds 2021122 Total 102a121 Totsl Educat]onal operaoons Direct c051s Educab"¢Jnal opera1mS Support costs Ellucational (4]eralS 4.375 1.277.794 1.282.169 1.154,928 24.547 28.922 297,000 297.ts 928.800 2.2C6.594 1.250.347 2.532.516 ¥21.043 2.075,971 2021 totsl 161.C(Kl 1.894.887 2.075.971. Page 30
Thè Htvè College {fomierty Wilson Stuart UC8 Partnershlp Trust) IA Company Limited by Guarantee) Notes to the finanelal statemènts for th• year ended 31 August 2022 leontinuedl 6. ChariiAblo activits85 Icontiwmwdl Educ*tional operation$ 20J Total 202LV21 Total AlysIS ol support costs Suppwt $latt costs Depreuali Technol¢>Jy costs Premises costs Professimal costs Other support cosis Governance costs 792.15 76.105 lo.) 109.%3 101.558 155.476 4.450 792.505 fl)3.479 76.105 75.710 10.2 7,599 109.963 87.156 101.558 72.901 155.476 66.554 Totsl support Costs 1.250.347 1.250.347 ¥21.043 2021 total 921.043 921.043 7. Staff al Staff costs Stall costs dum9 Ihe pernd were.. 2021122 2020121 Wages and salanes Social security CD5t5 Pension cKJsts 1.196.535 92,458 534,547 1.099.471 74.375 260.341 1.823.540 1.542.187 Agerty staff costs 49.763 33.915 1.873.303 1.576.102 bl Staff numbe The average number of pewsons employed by the academy the year was as follows". 2021122 Ilumber 20221 Number Teathers Adrnlnislrati and support Managemeni 10 69 51 81 61 Page 31
Thè Hive College If0rn7efty Wilson Stuart Uce Partnership Trust} IA Company Lirnited by Guarantee) Notes to the financlal $tem¢nts for th¢ year erbded 31 August 2022 {continuedl 7. siaff l¢ontinu•dl cl High¢r pald stsff Z02112Z Number ZD20121 Nwiber The number of employees kne empknyee benefrts lexduthNJ empYer pensM)n ¢o$lsl exeded £fA).I)X $. £60,001- £70,OJO dl Key managem•nt personnel Thè key managment petsonnd of the a¢aJerny tru51 comwse the trueets and Ihe senw)r management tsam as listed page l. The total amount of employee beneffts (Incl09 empbyer pertsion eontribultrjns aThJ employer atK)nal insurance cOntuln5) received by key rnanagemenl persomd for th( seNicès 10 the academy Irusl was £170.gJ912021.. £159.924}. 8. Related Party Transactions- Trnstees. remurration •nd expenses No truees have been paid rem1r¥IN or have received olher benefft5 from an employment ilh the academy trust. During the year ended 31 Augusl 22. rKJ trnvel •d SSter eygÈn$es were rntrSed or paid diie¢iiy to any trusiees. Olher lated party tyansadion5 intyving Ihe Injstees are set •Jl in rte Z2. 9. Tru8tees' and offlcers. Ir6uran¢e In a¢cordance With nomul cornmer¢u?I pradKe the aczdemy ha5 purchased insurants Io PTol£d Iruslees and officers from daun$ arising negli9enl xts. effors or ornissiws ocojrring 4hthi15t ¢)n a(ademy Lwsine55. The insurance provide5 ccp4er to £5,0.0[• M any onE d8*n. The $1 01 this insurance is indle in Ihe tolal insurance at. Page 32
The Hlve College Ifornerfy Wilson 51uart UC8 Partnershlp Tntst) IA Company Limited by Glwrnnteel Notes to the financlal ststements lof the y•ar ended 31 Au9USt 2022 Icontlnuedl 10. Tanglble ass¢ts Leasehold l•nd aryl buildings mdei consvucllon Fthing• •nd ¢omputer quiprnent hardwa Motor v¢hlcles C05t or valuaiion At 1 September 2021 Additions AI 31 August 2022 52.525 6(Xl.484 3.Q09 301.205 I.324 6.312 166.636 184.072 761 916 628.362 1.3W.278 14.76Z 78.552 184.072 Depreciatson Al 1 Seplwnl)er 2021 Char92 for Ihe year At 31 AugU812022 15.285 6.160 21.445 92.811 26.269 119.000 38.449 .097 85.924 .914 122.738 232,469 89.340 321.809 N*¢ book values At 31 Auyu$12022 286.564 47 556 61.334 1,lJ68.489 Ai 31 Augu512021 52.525 285.920 67.513 25.341 95.148 529.447 Cos1 or valUaft al 31 Atyjusi 2022 s repres¢r4ed by". A55ets nder ti)nstsu¢bon Leasehold Fltbngs and Compultr hardware bubliFin9$ vehlcles Tolal Cosl 653.CQ9 166.636 1B4.072 1.39).278 653.(K19 166.636 78.552 184.072 1.39).278 e33
The Hlve College {fom)efty Wilson Styart UCB Partnership Twsti IA Company Limit by Guarantee) Not•s to the financial statements for th• year •nded 31 August 2022 Icontinued 11. Debto 2022 2021 Debtor$ fro operatKffi$ VAT recovwable Prepayrnent5 and accJued income 29.629 62.811 255.013 347.253 1B,960 .1SD,129 169.089 12. Credito 2022 2021 Amounts lalling due withln on yt•r- Creditors from opuations Accruals and deferred inctyne Other ¢110r5 789.297 97.358 190.174 173.863 54.769 91,129 1.076.829 319,761 Deferrgd Income Deferred ifthme al 1 September 2021 Resources delerred in the year Amounts released fr wevhYJS y 36.516 42.263 (36.5161 46.214 36.516 146.1141 Dèfe• ItMe at 31 August 2022 42.263 36.516 At the balan sheei de the academy trvst was fuThYs received In advance for Srthgot Condilh All0vrae 01 £34 070. Devolved Fomiula Captsl grnni of £5.050. and 16-19 Turtion Funding of £3.413. IL•Yed in ¢Or$ from ¢)pprztions *t amtyJftts of £749.321 due to Birmingharn Cty r(x pay¥oll sts whith they have noi dra% a[ the trLtsI hphj 5uffioeni lurxls IDr the payrnent of tr ¢ditOrS. These are b8ing W off after the ye¥ wd.
Thè Hivt College Ifom)èrly Wilson Stuart UCB Partnetship Tntstl IA Company Limited by Guarantee) Notes to the finanelal stat•m•nts for th ye•r •nded 31 August 2022 Iccntlnuedl 13. Funds Balance at 1 Sèpt¢rnber 2fj21 G•lns, ltssses and transfers Balance It 31 Augllst 2022 In¢ome Exp¢nditure fttrI¢ted genr•l fvnd$ General Annual Gr1 IGAGI olher DfEIE5FA c-79 furn1ing Oiher 9rant$ 1.170.n8 1.171.954 25.6n 1.644.041 2.841.672 (447.5351 (25.6771 1.644.041) 2.117.253 IS82.8731 1.312,274 1.170.728 582.873 1,312.274 RstriGtsd fix¢d asset fund8 OIE Group caFital gfants Capital eXperure from GAG 122.354 407.093 529.447 63.58? 113.eo261 5.715 89.341 172.310 914,251 1.086,561 582.873 582.873 Pension reserve 663.(trt)) 16B.0001 Total rp5ttictsd funds 1.037.175 2.9)S.254 2..594 792.(XXI 2.230.835 Unrestricted funds Other incorne Total unre$tricted funds 6.522 6.522 12.683 12,683 3S.083 8.9221 Total fund5 1.043.697 2.910.337 792.cx)) .532.516 2.243.518 The speufic puwes forwhth the lund5 are to be apphed we as fdlm". Restricted general lunds These ¢(Knprise au resiricted fid5 Olhw than re$ted fwj hd$ an(1 in¢kth 9Mts frorn The Education and Skills Funding A9ency. The academy trust is wl sv4"e¢t to GAG carfd fcowzfd frnits. Unrestricted Ivrtds These comprise resources Ihal rnay be used towards meeting wy of the ehitai oty'octs of Ihe dernY trusi ai di5uetK)n of Ihe Ifusi885. Restricted fixed asset lunds These comprise res(MJr¢es are to be ar•¢ 10 ¥)r¢ captal Fwose5 imF4)sed by The and Skills Funding Agen¢y 4there the asset a¢))uir&l (seated iq hdd lry a spec1r purpose. Page 35
The Hlve Coll•9è (formerly Witson Stuart UCB PartnebIp Trust) IA Company Limited by Guarantee) Notes to th• finanelal $tstements for th• y•ar •nd•d 31 August 2022 (continued) 13. Funds (Gontinuedl Comp•rnlive infOation in respect of the prEceding p•riod is as folbows: BalanGe at 1 5tptrmbtr 2020 Galn5, losse$ and In¢¢m¢ ExprN1ityY tsan$fers Balan¢e at 31 Auyust 2OZ1 R¢5tricted 9gn•ral funds General Annual Grani {GAG} Othèr Covid-19 lundin9 Othei grants 767.939 994.1S0 53.170 1.345.826 2.393.146 1405.3361 153.1701 1.345.826> 1.804.332 1186.0251 1,170.728 767.939 186.025 1.170.728 Res¢ricted fixed asset funds DfE Group rapilJ grants Capitsl expenditure from GAG Capitsl eVn(hIu fvom olher 103.Th) 289.202 39.535 (21.1711 168.1341 11.2501 .555 122.354 407,093 186.D25 394.442 39.535 186.025 529.447 Pension reseple 161.QJ) 63.000 Total restrlcted funds 754.381 2.432.681 1.037.175 2.055.88 ilnrestricted lu*ds Other income Total unrestricted funds 4.248 4.248 22.358 22,358 (20.0841 6.522 6.522 Totsl lunds 758,629 2.455.039 2.075.971 4.0 1,ts13.697 Pe 36
The Hive College (formerly Wilson Stuart UCB Partnershlp Trusti IA Company L1rnIt by Guarantee) Notes to the financial slat•ments lor the year ended 31 August 2022 Iconllnuedl 14. Analysis ol net assets beien Fund balart¢S ai 31 August 222 a presented ty". Restrictod pensio fund$ Restricted fixed asset fvrnds un$iC1ed fvAds general lunds Total Iwids Tangible fixed assi$ Gurrent assets Current 11a&11eS I,CW.469 18.092 1.rffl.469 2.419.878 1.076.829> 2.411.518 168,CKrf) 2.243.518 12.683 2.389.103 1.076.829 1.312,274 12.683 1,086.561 Pensx)n scheme liablity Total net assets 168.0 168.0> 12.683 1.312.274 1.086.561 Comparalwe information iespecl of the preceding perK4 is as floWS.. Restricied Restrreted Restricled rixed 4$S¢t pension general fund$ fvnts Unrestrictsd Totsi funds Tangible fixetl assets Curyent asseis Current liabililS 529,447 $29,447 1.497.011 319,761} 1.706.697 663.OC#) 1.043.697 6.522 1.49J.489 319.7611 1.170.n8 6.522 529.447 scheme liatwlity Total net assets 663.000 1663.OC4JI 6.522 1.170.728 529.447 15. Capital conrnitments 202Z 2021 Cwtracled for trJt rnt pto¥idad in Ihe fmznri statemerts 812.976 40.025 16. Conwnitsnents under operating leases AI 31 Au9usI 2022 the ¢otal of Ihe Acadwny Trust's fulure minirnum lease paymerts rth cancellab operating 8$e5 was" Toial 202Z Ttstal 2021 AmnIS due within one year Arnounts due beh¥een one and fve years 591 1.035 Page 37
The Hlve College Iformerty Vlilson Stuart UCB Partnership Trust) IA Company Limited by Guarantee) Notes to the financlal $tatem•nts for the year endèd 31 August 2022 {eontlttuod} 17. R¢¢on¢iliatson of nel incom&l{•xpen¢fiturtl to n•t cash fl¢y rrLTrm operaiing aclivibe5 2021122 Total 2020121 Total Net irtoTnellexpeTrJitwel for reprMts"ThJ period135 wthe SOFA} Alsted for". Deprecian Inote 101 Capital grants from cifE and other Ca KKome Interesl receivablÈ Inole 41 Defined benefft pensi4) scheme cosi less conlribJbons payabte (note 221 Oefinod benefft pefi51 scheme finance cost Inole 221 In(xease in debtors Increase in ¢redilors 407,821 379.16 89.340 163.5821 115n 284,000 13.000 1178.1641 757.OBa 90.555 139.5351 110ei 155.0 171.3421 6.492 Net cash pro¥ldgd by op•ratlng actsvlttes 1.309.326 $26.132 18. Cash Ilows frorn in¥•stiftg aeliyllles 2021ll2 Tolal 2020121 Totsl Inleresl re¢eNed Purchase of lar¥Jie fixed assets Copiw grants from OIE (kn 157 (628,3621 63.582 106 P27.5831 39.535 Net cash used in •eSting activitiès 564.623 187.942 19. Analysis of ush and Cash equivalents At 31 August 2021 31 August 2022 Cash at bank and h*d 2.072.625 2.072.625 1,327.922 1,327.922 ZO. An•ly$i5 of changes in net debt At 31 August 2021 Other non<ty5h changes At 31 Augu5Q 2022 Cash fiows Cash ai bank in har1 1.327 922 1.327.922 744.703 744.703 2.072.625 2.072.625 Pa9e 38
The Hive College (formerly Wilsofi Stuart UCB Partnership Trust) IA Company Limited by Guaranttel Not•s to thè financial stat•ments for the y•ar ended 31 August 2022 {eorbtinued} 21. Members. liabllity Each membw of Ihe charilabse c4ympany undeTiakes to contrite to Ihe assets of the company in eveni of tt beiryJ wound up helshe is a [rlber. or 1hin year aftw hthhe cease$ kn be a member. such arnount as may be rtquKtd. Aot exceedw¥J £10 lor Ihe debls and liablleS c4ntracaed tse1 helshe ceases lo bè a member. 22. Ponsion and 5imrfar obligations The xa¢Yemy Irust's emOyeeS belorrfJ io winopal pension scthmes.. the Teathers. Pension Scheme England and Wa$ (rpsi for academK and reL4ted s13ff,' and Ihe Loca Government Pension Scheme ILGPS) for non-teaching slaff. %thich is by We$1 PlAdldS FWKJ. Bcth mul110Fn0Yer defmed- benefit $¢hernes. The te$l acwariai valua1v of Ihe TPS relaied to Ihe ended 31 IAarth 2016 8Th1 of the LGPS JI Mh 2019. There wefe Tho oulslanthNJ ty ptepaid ai either begirniTrJ or Ihe end ofthe fintial yew. T¢a¢hern' Pension S¢h•ne Intrtsdu¢tlon The Teathers, Pensffjn Scme (TPSI a statthw, ¢xtr. benefil schem8. 9Med by Ihe Teachers. Pension Scheme Regulations 2014. Nlember5hip is •Aornatic for ieatheis aGademies. M teachers have Ihe optw)n lo opl-out of Ihe TPS erttdment. The TPS is zn unfunded scheme 10 boih the merthr and emplw makes c0nlributS, as a percenlage of salary- Ihe5e cc4itributioThs are cradiled to the Exthequer. Reliremerst 3ThJ other pension beneffl5 are paid by public funds provided by ParliartLent Valuatson of the Tea¢her5' Pension Scheffl¢ The Govemrnent Actuary. using norn)al Wrial nri. CCTh11$ 2 Irnal actuanal review of the TPS in accordance wilh Ihe Public selv Putsions (Valuations and Ernpkny C05t Czpl Direclvjns 2014 publisheit by HM Treasury every four year5 The aim of the leW is lo spe¢ify the level ol fviure ¢onthtxJlion5. Actuarial scheme valuations are dependent on aumpI5 about the value of fvtwe $1$. design of benefits and many olher faclor5. The latest actuarial ¥UatiOn of the TPS was carried out as at 31 March 2016. The ¥afvJation report wa5 published by Ihe Oepartment lor ECarin 5 Matth 2019. The key elements of the valualwirt and subsequent c0n5ullat1r are.. emFdoyer ¢fmlriblion rnies set ai 23.68% of pensKMub pay [mdLwJuyJ a 0.08% empbyer •1nynt5trion charge) lolal scheme liabilities (pensions Vjffenlly pay1 and the estirnaled cost of fultsre benefilsl lof seTvice lo the elfeclive dale 01 £218.1 MillTr. and notsonal asset5 (estimated future ccfitributiOn5 iogelher 1h the notional Investrnenis held at Ihe valuation dale) of £1.1[) milliun a notK)nal past seN¢e def(( of £22.000 wllion ihe SCAPE rate. set by HNff. is used io delerrnine the notional ve$1men[ felum. The ¢urrenl SCAPE rate is 2.4% above Ir rate of CPI. assumed real Trte of retum i$ 2.4% excess of pii¢es and 2% In excess ol earnings. The rate of real p3ming5 asswnEd lo 2.2%. The assumed Minal th of felum Induding e8mings grtr*lh is 4.4S%.
The Hive College (formerly Wllson Stuart UCB Partnership Trust) IA Comp•ny Limited by Guarantee) Notes to the financial statsrnents for the year ended 31 August 2022 l¢ontinuodl 22. Pension and slmitar obligation$ l¢onlinl The Va311( is due be implemented from l April 2024. The empltsyerfs pension costs paid ¢0 TPS in the yÈaf an¥Junled lo 87.467 r2021 .. £80.72Q). A copy of the Valuatic reFxt docurrla1IOn $5 the Teachers. Pen$iMs website. Under the definilions sel in FRS 102. Ihe TPS 1$ an unfun(bed Th1b.mpYer pSlon scheme. The a¢aderny trusl has accounted t5 contributions to Ihe scheme as if a defined c0nlrknLitn Sce. The academy tru51 h35 Sel (wi above the inf¢yrnalion a¥aLth on the scheme. Local Govemmtnt Pension Scheme The LGPS is 8 lunded defiTd benefil p$7 scthemÈ. Ihe assets tkl separate Iw51etradminisle funds. The total contribUtn made for the year ded 31 AugLfsi 2022 was E148.ODD 12021 £119.OCWJI. of tch employers contribLrtiMs iotalleo £1 73.[ 12021 ". £98.0) aThJ e[noYeeS. contrl)ution5 lOtal £35.0 12021 .. £26,1). The agreed c¢nlribution rates ruw years are •ailing wif1nnaiN Irorn the aJuary for ernployers and between 5.5% and 6.5% lor ernptyes. Padiament has agreed. at the reques¢ ol Ihe Secretary ol State for Edu¢atK)Tr. to a guarantee Ihal, in the Èvenl ol acaderny dosure. rxtstandirvJ Local Govemment Pension Scheme trabrfibe$ wvulLI be met by the Departmenl for Educaiion. The guarantee came Into force on 18 July 2013. The tn151ee5 have zweed Ihat Ihe Iwst wim make adth"IK#)al (x¥)thlJutiLi8 in addthn to Th)mial lunthng leveb over the nexl 32 years. Prlncipal earial assumptions At31 At31 Auyust 2022 August 2021 405% 385% 3.05% 2.850A 425% 1.7 3.05% 2.85% So.% Rale of increase ITr salanes Rate of increase ftsf pen&on5 in paThnI1 w)fla Discounl rale for scheme h"abihleS Inflation assumpDon {CPII Comrnutation of Penon$ to lump sums Sensitivity analysls A131 A131 August 2022 August 2021 rooos £008 {241 (381 24 39 Chscwnt raie +0.1% Discounl Rte -0.1% Morfality as5UfflPtH)n 1 year inC38e Mortality a5surnpt l year deuease CPI rate +0.1% CPI rate-0.1% 1341 24 1241 148 1371 The current rrtaty assumpfrs itude suifKK aloydnce lor luluTe improvement5 in mortalty fat85. The asstsmed h.fe eywlalions on retirement age 65 are". At31 At31 August 2022 August 2021 Retiring today 21.2 23.6 21.6 24.0 Females Retiring in 20 years Males Females 23.4 25.8 25.4 Page 40
Thè Hive Colloge Iformerly Wilson Stu•rt UCB Partnership Tntst) {A Company Limit¢d by Guarantee) Notes to the financial stal•ments lor the year •nd¢d 31 August 2022 leontinu•dl 22. P¢rt$loA and ssmilar obliyaiior6 l¢tythiu¢d) Local Govvrnment Pension S¢henw (continued) The academy Irusl's share ollhe a5sw$ in the was: 31 August 2022 31 August 2021 Equiti85 8onds Property Cash and olher liquid assels Olhor 453,CQO 142.oc 334.000 79,O¢XJ 38.000 20.000 77,000 27.C Totsi market valut of assets 676.C 548.000 The actual negative lurn M scheme assets was 3.3%12021 .. E73.(KXJ positivtsl. 2021122 2010121 Amount recognised in the statem•nl of financial acts¥itteS Current 5wwce c051 Interest Income Inter851 cost 397.C 111.CUJI 24.0(Kl 253.000 17.0001 13.00) Totsl amount recognised In the SOFA 410.CXXI 259.000 Changes in the. pr¢S•ntVal of d¢fioed tsen•ftt4)bligatiorts were a5 lollows '. 2021122 202W21 Al 1 September 2¢T21 Current service cost Interes¢ cost Employee 11)5 Actuarial gainslllossesl- financial assumptnS Actuarial gainUllossesl- defflcgraphK assurnplKx Aciuarial gain(lo$se$>- experien¢e gainsfftJ$ses 1.211.( 397.C 24.(KXI 759.0(Xl 253.OCw) 13.000 26.000 195.000 114.(MJ)I 122.OCQI 1822.(KKII 15.(XX)I 4.OCQ Al 31 August 2022 844.CA)) 1.211.000 Pa9e 41
Th• Hivè Collegè Ifomierty Wilson Stuart UCB PartnehIp Trust) IA Company Limited by Guarantee Not•$ to Ihe Ilnanclal stat•ments for the y•ar ¢nd•d 31 August 2022 Icontinuedl 22. Pension and sirnllarobligations {¢(bAtIn) Lo¢al Go¥¢mm•ntPènsion S¢h¢m l¢ontinuedl Changes"in the fair value of •¢ade$ slArÈ of s¢heme assets were as follows- 20Xtt2 202W21 Al 1 September 2021 Interest income Relum on asseis $$ teres1 Employer contri11($ Employee conlributions 548.0 11.0 131.OCKII 113.0(Xl 35.OCKI 351.oc 7.000 66.000 98.000 26.000 At 31 August 2022 676.0 548.000 Net penslon scheme litMfity 1168.OC¥)) 1663.CKIOI 23. Related paety tsansa¢bons ing to nalure of the academy twst and Ihe compt>5ilw)n of the board or truslEe$ bein9 drawn fvom ID¢al public and private sethor 1xganiIS. tsansactions may lake place th ¢yganisalths in which truslÈe$ have an interest. The folk7wing related party transacbm(sl took rAace dtsring wJd: ure and in EducatkA IM(t Academy Trust Charitab ccffjpary in trthich S Pmtyhes and J Harris are tn151ees 2022 2021 SeNces iecarged lo related ¢wpany durw the penc#J PuFchase5 Irom related CpanY during Ihe perKJ Amwnl due to lated cornpary at per0 end 24,487 376.116 190.174 10.344 340.039 90.487 The academy trust made ihe purch35e al arrrfs. All Iransact)ns such 0b$allOnS are ColLed ¢n ac£udCe the requiremems ol the Academies Trusl Handbc*)k. Page 42
The Hlve College Itormerly WiL8on Sttsart UCB Partnership Trusti IA Company Limiled by Guarantee) Not•5 to tho financial ¥tatem¢nts forthe year ended 31 August 2022 Iconttnuedl 24. Agtncy amngernents The academy Injsi dF51rilxJles 16-19 bursary fvnds lo Styeni$ as an a9enl ESFA In ffte acwjthg perK ending 31 August 2022 the Irust reVed £12,874 12021. . £10.9431 and Ilistwtsed t11.587(211 .. £9.1721 from the fund. There 15 a baknce of £9.01212021 .. E7.725} at Ihe Jyar rdairy to ullth5ti1b fuTrJs. 25. Contingent liatNlilies Follon9 recent dea&on in ihe Harpw TNst v$ 8razel case ts trusl is C4ns9 Ihe Fd8nbal fsability in respect of this. At this lime il is not F4)5sitrAe to •y fiatxkty. ifarry, and no provison has been rnadv in these a¢Ints. P*Je 43
Services 4 Schools Ltd
Summary Annual Internal Control Report for Education Impact Academy Trust For the year ended 31[st] August 2022
Contents
1) Introduction 3 2) Summary of Findings 4 - 10
Services 4 Schools Ltd (Company Registration Number 8628145) Registered Office: Waterloo House, 4 Waterloo Road, Wolverhampton, WV1 4BL
2
1. Introduction
For the year ended 31st August 2022, S4S carried out one internal control reviews for Education Impact Academy Trust, during February 2022.
The review focused on the following areas, as requested by the Trustees:
-
➢ In order to assist the Trust in discharging their duties, in February 2022, we started a high- level review of the following areas:
-
Review of the Financial Procedures - To ensure that the approved Trusts Financial procedures, include all the required areas of control to ensure compliance with the Academies Trust Handbook
-
Review of the Scheme of delegation - To ensure the Scheme of delegation contains sufficient detail of the Trust responsibilities
Extracts from each of the individual summary reports, are detailed on the following pages.
3
2. Summary of findings
Financial Procedures review
| Appendix A Ref |
Finding |
Recommendation | Implications | Action |
|---|---|---|---|---|
| Various | There have been various sections noted from the Financial procedures which: 1. Contain all information as required (highlighted green) 2. Contain some but not all of the information required (highlighted amber) 3. Doesn’t contain the required information(highlighted red) |
It is therefore strongly recommended those areas highlighted as Amber/Red on the detailed report, are reviewed and updated to contain the relevant information |
To ensure the financial procedures are complete and comply with the Academies Trust Handbook |
4
Scheme of Delegation review
| Appendix **B Ref ** |
Finding | Recommendation | Implications | Action |
|---|---|---|---|---|
| People | Appointment and removal of Members not listed within the Scheme Responsibility for generation of the role descriptions for Members, Trustees and Local Governors Greater clarity to be included on the responsibly of appointing specific committee members Greater clarity required on who could remove the Chair of Committee’s and Local Governing Boards Reference who is responsible for appointing the Clerk to the Trust Board and Local Governing Boards |
That the trust consider adding each of these areas to the Scheme of Delegation |
To ensure the Scheme of Delegation is complete |
5 |
| Appendix B Ref |
Finding | Recommendation | Implications | Action |
|---|---|---|---|---|
| Systems and Structures |
Can find no evidence within the scheme of Delegation whose responsibility it is to approve the Articles of Association. Greater clarity on the evaluation process concerning skills audits and that the self- evaluation process for Boards and Committee’s should be completed annually Can find no evidence of whose responsibility it is to review the Chair of the Trust Boards performance and who is responsible for succession planning. There is also no reference to who decides on the annual business for Trust Board and Committees |
That the Trust consider providing greater clarity on these areas within the Scheme of Delegation |
To ensure the Scheme of Delegation is complete |
6
| Appendix B Ref |
Finding | Recommendation | Implications | Action |
|---|---|---|---|---|
| Reporting | Not referenced within the scheme whose responsibility it is to ensure compliance regarding governance on Trust and Academies website Register of all interests, business, pecuniary, loyalty for members/trustees/committee members: It is not referenced in the scheme whose responsibility it is to ensure compliance regarding governance on Trust and Academies website concerning the completion of this documentation It is recommended that the Members receive information on the annual performance of the Trust. The responsibility for this is not clearly referenced in the scheme |
That the Trust consider making these matters clearer within the Scheme of Delegation |
To ensure the Scheme of Delegation is complete |
7
| 8 Appendix B Ref Finding Recommendation Implications Action Being Strategic Not enough clarity within the scheme of delegation with regards to the responsibility for approving specific Trust and School policies Evidence within the Scheme of Delegation that the Trust Board approves all budgets for individual academies, but no reference to the responsibility of approving the top slice Greater clarity required on the responsibility of each individual academy with regards to their school vision, values and ethos The Trust to consider making these matters clearer within the Scheme of Delegation To ensure the Scheme of Delegation is complete Holding to Account No evidence of Trustee monitoring within the scheme The Trust to consider greater clarity of this within the Scheme of Delegation To ensure the Scheme of Delegation is complete |
|
|---|---|
| Appendix B Ref |
Finding | Recommendation | Implications | Action |
|---|---|---|---|---|
| Ensuring Financial Probity |
Scheme of Delegation outlines that the Trust Board is responsible for approval of Trust and Academy financial and governance regulations and procedures, although I would suggest more clarity on it being the Boards responsibility to establish and review the scheme of financial delegation Scheme of Delegation outlines that the Trust Board is responsible for approval of Trust and Academy financial and governance regulations and procedures, although I would suggest more clarity on it being the Boards responsibility to establish and review the scheme of financial delegation No evidence in Scheme of delegation on whose responsibility it is to monitor staff appraisal and pay progression in each academy No evidence in Scheme of delegation on whose responsibility it is for benchmarking Recommend greater clarity in scheme of delegation with regards to responsibility for best value exercises |
The Trust to consider greater clarity in these areas |
To ensure the Scheme of Delegation is complete |
9 |
9
| Appendix B Ref |
Finding | Recommendation | Implications | Action |
|---|---|---|---|---|
| Other Matters for considera tion |
No clear evidence within the Scheme of Delegation regarding responsibility for hearing pupil exclusions No clear evidence within the Scheme of Delegation regarding responsibility for admissions There appears to be greater detail within the Finance Regulations Manual than is reflected within the Scheme of Delegation, I would recommend that the information from the FMR be added to your Scheme of Delegation so that the two documents match and the scheme is therefore more robust. |
Greater clarity required within the Scheme of Delegation |
To ensure the Scheme of Delegation is complete |
10