Tho Hov¢ Colleg• Iforn)erly W¥lsan Stuart UCB Partn•rshlp Trust) Trustees. Report Y*¥r Ended 31- Aygu$t 2022 The Trustees presentlheir annual ￿Ptsrt togetherwith the finano81 statements and auditors report ol the charrtable company lor the period September 202110 31* August 2022. The annual report serves the purposes ol both a trustees, report and directors, report under company law. The Independent Spè¢ia1ist college calefed lor 107 High Needs pupils aged 19 10 25 in 202112022. Structure. Governanc• and Management itulion The college is a comp8ny lirniled by guarantee and an exempl ¢harity. The Chariiable Company'5 Artides of Assooialion and the Funding Agreement arè the primary governing documents ol the college. The Trustees ol Wrlson Stuart UC8 Partnèrship Trust are also the di￿lor$ 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 Se￿e￿ 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 praCt￿e 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 rev￿W9 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 and￿M￿ne￿Il0￿ 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$tee¥' Report {continuedl Year Ended 31" August 2022 Related rtiés ènd othèr C nne¢ted Ch ritiès and O anis8tions All members and Trustees complete a business interest dedarations lorrn on an annual basi5. The declaralion sets oui any relalionship with businesses, othef educalional esiablishments, T￿Stee5 or college staff. Each individual is required to declare a polenlral "conflict of interesl. il it arises befften such declarations. Once a declaration has been made. the individual conGerned takos no further part in any decision relating to the matter declared. In respect of the current year. the Trust has the IDllowing relalionships.. The Trust share5 some of its facilities with other site users. including James Brindley Sperjal School and Wilson Stuart School. and thu5 shared costs. It also has a partnership with University College 8imingham for the govemance of the college. Tra nion facKil lime Infomalion in accordance with Schedule 2 of the Trade UnK>n IFaBility Time PuNiGation Requir8mentsl Regulations 2018 is as follows.. Relevant union officlals Number of employee5 who were relevant union officia15 durin the relevant eriod Full-time equivalent number Percentage of time spent on fa¢ility timo Peieenta 0% 1%-SO% 51%-99% 1000 e of timE Nurnber of em PÈrrenlage of pay bill 5pBnt on faGility time Total c05t of facili Total Fa¢ilit knme as time £1.823.540 er¢enta e of total Paid trade unlon actlvllle$ 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 pUt￿le benèfit published by the Charity Commission on their wèbsite at ￿vw. ov.ukJto iclrunnin charit Imana in 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$t August 2022 Company Registration Number 09687904 (England and Wales) Charity Registration Number 1168589 Feltons, Chartered Accountants Birmingham B1 3JR *AewBV421• 30m1r2023 COMPMIIES ￿￿USE 111 The H•¥e Colley (formwty Wils•n Stsart UCB Partnership TTUSt) Aan¢ial Sts¢ements Ywr EThéed 31At August 2022 Contents Page Reference and Administrative Delails Trustees. Report Govemance Statement Statement on Regularity. Propriety and Complian 12 Statement of Trustees, Responsibilities Independent Auditor's Report on the Finanoal Ststements 14 Reporting Aecountanfs Report on Regularity 18 Statement of Financial Activitie5 incorporating Income & Expenditure Account 20 Balance Sheet 21 Cash Flo￿ Stalement 22 Notes forming part of the Financial Statements. incorporating". Statemenl of Accounting Policies 23 Other Notes lo the Financial Statements 28 T￿ Hive Collgge Iformetly Wilson Stuart UC8 Partnershlp Trustl Reference and Administrobon D*iaiJs Yèar Ended 3111 August 2022 Members l Trustees Mr. S Hughes App(Nnted 15107r2015 Retired as AecountiThJ Officer 3111212021 Accounting Officer Vice Chair of Trust Board Chair of Trust Board MrJ Harris Mrs. D Rush Mr. C Hussey Mr D Bennett Ms A Lofthouse Ms N Brady Ms H Mandleterg Appointed 0110112022 Appoinle(1151071201 S Appointed 0610712017 Appointed 1310712018 Appointed 1611012020 Appointed 1410512021 Appointed 0611012022 Resigned 0410712022 Senior Leadershi Team Chief Executive Officer College Principal College Vice Principal Chief Financial OFerations Off￿er Mr J Harris Mrs K Everton Ms N Culler Mrs D Rush Company Name Wi150n Stuart UCB Partnership Trust Registered Office Perry Common Road Erdington Biniingham 823 7AT Company Registration Number 09687904 (EThJland and Wales) Charity Registration Number 1168589 Auditors Feltons (Bham) Ltd 8 Sovereign Court 8 Graham Street Bitmingham B1 Bankers Uoyds Bank plc 25 Gresham Street London EC2V 7HN Solicitors Browne ja￿b$On LLP Victofia Square House Iricloria Square Birmingham B2 4BU Tho HNe Collegè Ilorm•rfy Wtlson Stuart UCB partn9￿￿1p 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 H*Jh Needs pupi15 aged 19 10 25 in 202112022. Structure. Gov¢Thanc• and Manag•mgnt Thè cdlege Is a CoMp￿Y limile(I by guarantee and an Èxempt charity. The Charitable Company'5 Art￿leS 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 throug￿11 the year a￿ fflduded In th¢ RefererK¢ and AdministratNè Details on page 2. ' L￿bill 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 Trusle*s 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 cl￿n 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 Assock*iDn 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 perf0m￿nCe a9ainsithese ￿a￿S and making decisions regarding curriculum. aGhv&vements and welfare of sludents and slaffin9lspendin9 levels. rhe TTU5kes have appointed an internal auditor to give assurance lI￿t the college'$ Financial Proce%Jure$ are being adhered lo and lunds are bein9 expended approprkqtely. A￿rt ements lorsettin and remunetslion ofke mana emènt 8r50nn•l Pay increments lof all staff are subject to su￿SsIu1 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 col*e principal. Al staff arè paKJ wlhin ranges on Tha￿ttallY a9reed pay scales. Page The Hlve College Ilornierly Wilson SbJart UCB Parthgrship Tru$V Tntste•s' Report Icontinuedl Y¢ar Ended 31*1 August 2022 Related artiès and olherconnèeled Charillès and O All rnembers and Trustees trynplete a trxJ$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 Tr*e 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 1￿25 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 SI￿a¢nt receives hvJh quality education with equal access to resources and teaching To improve the elfeCbv￿ess 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 h￿he$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￿$1 8oard Stqnificant aclivitye5 linked to ihe tnjsl's charitable actiV￿es, and they further its aims, have been.. Work pla￿￿entS for st￿lS to promole independence Partnerships wilh outside agencies and cdlaborabon with univergbe5 and olher schoD FuTrJing bids to outswle agencies ￿lUding Edtxab"on Skilb Funding Agen¢y IESFAI and L￿1 Authority Public Benefi In setting our objectives antJ planning our ￿tMties. ihe Trusl Board has gNen ca￿lu1 considerabon to ihe ger￿1 guidance on public benefil publishe(J by the Charity Commission on th￿r website at vhvw. ov.ukJto iclrunnin hari Im in exero5irvJ their w)wers or dutw. Wi150n Sluart UCB Partnership Tru5115 an equal opportunity employer and strives to give lull and tsir wnsideration lo all applicants for ¢M￿0Yrnent. training and promofKsns. yre5peckn.ve of disability, gender, race, cpbur or sexual ori8nlation. Strategi¢ Report Achièvèments and Perfomiance 2022-22 Ke Pe LIVE Stud P ormonce Indic¢7rors ram QUalIf￿￿on Noof entriès Ach*ved Parb'al ach*vement Em h) abili abili Pass rate sk￿1$ 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 ACh￿d pa￿al ach￿Vernent 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 ach*vement 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 s￿al Deslination 4 VolunteerirwJ 2 STRIVE Stud Pm ramme Students folknv a nOn-￿e￿ited sensory Cyrrw￿m." tar9ets are set folkn￿n9 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 per￿ntage 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 g￿n9 ¢))ncem basis in prep￿ing the fmancol st*menis. Further delails regarding thè adoption of the going concern basis can be found in the stateff￿nE of ACc￿Jfib"n9 PoI￿les. 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 poI￿leS adoptèd are laid down by Ihe Finance HandtKy)k for Academ*s published by the ESFA and reqU1￿MentS 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 run￿1n9 of£2.940,337 compared lty total resources expended of £2.532,516 to give a surplus for the year of £407.821 wh￿h 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 exPer￿li￿re 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 wh￿h 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 r￿1 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 (eal￿d by the disposal of tangible fi'xed assets. The balance on restrr¢led general fvftds (èxduding reserve) Wu5 the balance on unfestr￿led 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 O￿lege Susta￿at1e and monitor the numbèr ol rnonlhs the reseThes can hjnd. Invèstment Pol The college does T￿t 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 If0￿8T1Y Wilson Stuart UCB Partnership Trust) Truste85' Report {continuedl Y•ar Ended 3111 August 2022 l R￿kS 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 I￿SinesS 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.. Conside￿ble focus and inveslment 15 on maintsinlig an*J managirg key relationships with various funding ty)dies'. Focus on prK)nty sectofs wh￿h 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 def￿1t 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 unm*age*e. 3. Sfudent slrategy The college attr&ts pro¥ective studenis by." Delivering h￿h 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 ¢a￿l investsnent will be sought to fa¢ilirate this expansion. The coHege will join EdUcat￿n Impa¢t Academy Trust on 1￿ Sèptember 2022 as a wholly oW￿d subsidiary company_ The MAT wll provNle eduCat￿n 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 Custcxl￿n trustees. Th¢ Hl¥e College Ilomierly Wilson Siuart UC8 Party￿1$h[p Trus Yrustees. Rtport Icontinuedl Year Ended 31" Auyust 2022 Auditor In 50 far as the Trustees are awa￿.. there is no ￿l￿Vant audrt information oft*hich 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 informat￿n 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" Aug￿1 2022 Scope of Responslbility. As Trustees. we ackna￿edge 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-l￿daY responsibilty to the CEO, as A¢covntin9 Off￿r. lor ensuring financial controls conform wlh ihe requirements of tx)th prOpr￿ty and 9ood ffnanual management and in ac￿rdanCe 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 ￿e￿ribed 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 L￿dertakeN dLKin9 the yearvthich hjeftttfitd Ihai 2 Twstees hail missed 1 meeting each. Therefore 93.3% attendarKe by Tnjslees C¢)ntri1￿Ied 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-t￿date 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 col￿ge 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 eConom￿s. Review expenditure anrj COntr￿ts in line vnth the QIP. making adjustments based on effectiveness ol strategies introduced in yevious years Thè Hive Colle9e (lonnerly Wilson Stuart UCB Partnership T￿t) 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 b￿n 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 IMp￿mented 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 admI￿lstratiVe pr(Kedures includiThJ the seg￿gat￿n ol dubes and a system of de*ation 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 INd￿￿e financial pÈrformarKe againsf ihe lorecasts and of major purchase plans. capiial wotks and eX￿ndIt￿re 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 ¢ol*e's finarrial systems. In part￿ular the checks carn*d out in the current period included.. lesb.ng of payioll systems testin9 of purchase systems tesb"n9 of contrd accounts i bank reconciliatb￿5 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 Tn￿tI Governarnce Report l¢onlinuodl Year Ended 31*1 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 ad￿Sed 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 off￿er P￿e 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 reA￿lements of Acadeffl*s TN8t 2021. l confiftn that l and the academy trust board of I￿￿tte5 are able to identify any material irregular or Thproper use of nds by the academy Imst. ty m*erial f￿-comF1￿7n¢e Tmlh the *m5 and coThthtion$ of fuThJin9 under the aca¢Jemy trust's funding agree￿￿nt and the Academies Trust Handbook 2021. I confirm thal no Instan￿ ol material ¥regU￿￿"ty. ¥i¥wriety or fund￿9 nw-c¢￿plW￿ Pove been th$w¥e￿d 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 Offic*r 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￿ C*f Ihe charita￿e 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 EdU￿tIOn and Sk411s Fundiry Agery. United lQngdorn Accounbng Staryjards (United lfjngdom Generally A￿pted Act4)unD"n9 Practice) ¥ykable Law ￿ reg￿tiN￿. Company law require$ trustees lo Fware finwal $taterneN$ for e*h ￿na￿tal year. Under ¢onpany law Ihe frustee5 musl nDI approve the financial slatements unless Ihey are sati$f*d that Ihey gNe a true and fair view of the slatÈ of alfair5 of the th3ri1abl• company and of its incoftrrin9 resources and ap￿￿al￿ ol resources. indLKling its income and ej[penditu￿ fry Y￿1 perT(*J. In wew¥ig these fina￿421 51*8m*ts, the trustees are rewired to.. select sLN1a￿e attounting poh.oes and then ￿p￿Y 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 esbma*s that ale reas￿ats1e and prudent.. state whelhef appliUb￿ UK AGcwnling 5tandard5 have been frAl¢Aved. $ubied lo any rnaterial d?￿rtUreS disclose¢J and eXpla￿e¢S in Ihe financial staiernents." arKI prepa¥e the finanaal Staiernenls ￿ the goi￿ concem basis un￿sS It is inapprowate Io Presume that Ihe charitable company wll CDntsnue in bUS￿eSs. The trustees a￿ responsi￿e for keetxr#J adewale accounb.ng reC￿ts 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 r*asonabl• steps fof the preven￿7 detectrjn of frau¢J and other ifTe9ularities. The iruslees are ￿Sp￿Sible for ensuring that ￿ its conducl and r)peration Ihe c*aritable 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 in*nded. The Irvstees are responsible ffx ¢he rnainlenan¢e and In￿{￿ of the corporate art*J 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•r*t 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, inc*Jding a summary of significant accounbng policies. The fina￿1#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 knO￿ting Practice) W￿￿dIng Finanoal fteporring Standard 102 "The Finantyal Repoth"ng Standard applicable in the IM and Reputit ol Ireland" Ihe Charilies SORP 2019 and the A￿den￿e$ 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 aff*r5 as at 31 August 2022. and of its ir￿Orning resource5 ar￿ appltwion of reswr¢es. ￿dud1r9 ils incfft al￿ expenditurt. lor the perK)d O*n ende have been properfy prepared In awdance wilh United ￿9￿Orn Generally A￿epted 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 Ed￿tr.￿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￿$1￿11￿85 undw those standards *e further desc*bed 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$￿"1￿5 in accordance IMth these requirernents. We bdieve that the audit eviderte we have ot4aiie(l Trs SUffrti￿t anil approwats to provide a bags lor wr O￿n￿)rt. Conclusions relating to going eoncem In audibng Ihe finanoal stat8ments, we have conduded Ihat Ihe trLL8tees' use ol the gO￿g concern basis of a￿OUntir￿ in the preparalion ofthg financ4al $l*ments ts apkYopria*. Based on the we have perfmed. we have not idenbfied any mateiial ￿￿ertaIntieS relating to event5 or conditions that. indI￿d￿alty Lv colleclivdy. may cast 5ignifi¢3nl doubt on ihe xademy iru5f5 abilty to witinue 35 a cO￿8M for a perK*d of at twdve month$ fron when Ihe finanoal statements are aulhorise¢ for issue. Our respty)sthilth$ and the reSp￿￿'1￿e5 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 aU￿lI￿r.5 rewl ther8on. The Iru51ees are respm&￿e lor Ihe other information ccntained b*th the annual report. Our opiniDn on Ihe finanual stslemen15 ¢5)es not cover Ihe olher infornation and, except to the extent othelwse exPl￿1￿Y stated in (wr ￿r￿￿t. we do nol express any frffrn of assurance condu5ion thereon. Our responsibility is to read Ihe olhef ffil0rn￿Et￿ antl. in thng so. consiLler Yhthether the Olher inform•ton 15 rnaterialty inconsistent with the financial Statements or wr kn￿￿e 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 thems*e5. If. ba5eil on the work we have performed, we condude that thwe 1$ a material ff*sstalefflent 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 I￿rk uTrJertaken in the cryjrse ofthe 3￿j e irnforrnabon given in the trustees. rewt Ir•>Jwating the strategrc report and the d*ectors' 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 at￿ance *icabk legal requirtrnenls Mattors on whtch we are requlre1 of at ￿5t one year fvom the dale ol aUth￿1$a￿cn ￿ issue ol Ihe finawal staiements and have ¢))ndudEd that Ihe *G*emy trust ha5 adeouaie re50wces 10 conlirwe in op8ra*"onal exislerte for the I￿e$eeab* future and there are no material uncetr4inties about the a¢a¢Jerny trust's a￿lIty to continue as a g￿n9 ¢on¢ern. t￿$ Ihey continue to adopt th8 g￿n9 concwn ba$1$ ol acc(MJAtirKJ in preparing ts financial staiernehts. 1.3 Incorne All incoming resources are recognised when Ihe ¥ademy Intst has enbtsrr￿nt to Ihe luTrJs, Ihe ￿elpt 1$ probatle and the arnount cafi be measured relk?bty. Gtan Grants a￿ included ￿ the Siaiement of Fina￿131 thbviiie5 Dn a ¥eceNable ba5¢5. Thv balarKe of income ieceived for 5peufic purp05e5 bul nol expended dur￿￿ the period is shrnw in ihe relevant fijnds on the bakince sheet. Where inc¥)me is ￿teNed in advan{* of meeting any perforrnance-ffjlated condit￿$ there is not [m￿ditIOnal eniillement to Ihe income and its recogniiw is deferred and included in credrtlxs 35 deferred inojme vnll Ihe perforffjance-rdated condfiions are rnet. Whe enlilement IXCW5 before Incorne is iecewed. the irKome is accrwd. Gener￿ Annual Grant 1$ re¢ty)rrised in fijll irt tr* state￿nI of Finaybtsal At*ibes in the ye¥ for which it is re¢eivabJe and any aba*ment in ￿ped of the per￿￿ is dedth from in¢iKne and ￿COgniSed a$ a liabilty. Capital grants are recognised in ￿￿1 lhe￿ is an Unc￿J￿1 enbilemenl to the grant Vrnpent arnovnls of capital yrants are reflected in Ihe balance sheet in the restricted fixed asset fund. Caprtal 9rants are recognised when Ihere is entillemert ar*J we Th)t d•ferTed over the lrfe of the asset on wh they are ewended Donations Donations ate recognised on a reteNa￿e ba%$ (where there are no perfo￿ance-rE1•ted c£fithth'onsl where the re¢wpt Is probats￿ and Ihe arntyJni can be retsably meawred. Page 23 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$ receiva￿8 and lo the extent the oc•Semy trust has provthd the goods or services. Donat*d goods. l•ellltles and servic•5 Goods donateil lor re$ate ¥t induded al fair value. bein9 ihe expectsd wL*eed$ 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 A￿￿￿e$.. Ukx)n sale. Ihe vakle of the sio(a is Charged against 'lncom from Other TradiThJ Actiwties. the wty*eds 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 Acti￿1￿5.. Donatod ffixed assets Where Ihe donated good 1$ a fixed asset it 15 meagJed at fait v•ltA. uhles$ il is Unpra￿Cal to nwsuf• thi$ retiably. in wh￿h cast Ihe c05t of ihe item to Ihe donot $hwkl be used. The gain is recognised as income from donat￿￿5 and a cotreswxxth.ng amounl is included in the appropriate fixed asset caie90ry and depieci*ed 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(￿struc￿Ve ob14gatw to transfer econom¢ knefft lo a thwd party. it is probable thai a transfer of economic benefits ￿11 b? raquwed in Sett￿rnent 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 attri￿rtable to a ￿ngle a¢Dvrty are allocated directy to that adivrty Shared rA)sts *lNch eonlnbute lo more Ihan one activity and SUFg0rt c*sts ¥¥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￿-charlt￿e Irèthng. Charitable activities These are costs intrjrred the *3derny Iru5fs ethJcalp)nal Operalp￿S. induding supp¢*t costs and ccists relabng to the go¥ema￿e 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 Part￿rShIp 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 dep￿ciatiOn 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 ir￿lUded in the 8aWce Sheei al cost and dewe¢4*ed 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 f￿d in Ihe Statemenl of Finanrial Activiti?5 and Carried Imord in Ihe 8alan¢e Sheet. Depreeiatw ￿ the re￿want assets is c*8rgEd diredy to Ihe re$tri¢ted fixed a$5et lund in the Siatement of Finanual ALti￿e$. Where trrybie fixed assets have been acquired with unrestricted funds. deFKeciabon *Jn Suth assets 1$ chargÈd to tr* un￿lricted 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 (1￿M$tanceS inthc* that Ihe carrying valLte of any fixed asset may not be re¢over#Jle Shortfalls beknn the carry￿9 value of frAed a$$ and their ￿¢0¥9¥a￿e 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 disco￿1 offered. Prepaym8nts are valued al Ihe zmounl prepaK1 net ofany trade di$￿￿ts d￿. 1.7 Cash at bank and in hand Cash at bank har*J includes cash and short-terni h¥hty Iyihy ￿yes1rrErIts WFth a sl*)rt rnaiurty of three monihs or les$ frorn Ihe date ol acquis1￿ oroFerffig ol Ihe depjst or sirnilar a¢Kr￿t. 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 Sett￿M￿t. and the arnwnt ol Ihe setkment can be esb"ma*d relkgwy. Liabilities are recognised at Ihe a￿Unt that Ihe academy trust anbcipates rt ¥*Yll pay lo sewe the tlebt or the amrthi r( ha5 r8¢eNed as adva￿ed 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 ￿$trum￿nts The ai¥derny trust only h￿d5 bas￿ financkqt ￿$trUMents as defined by FRS 102. The fin*cia1 a55ets and fjnanual liabill￿e5 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￿$- tyade ¢redkor5. a¢¢Juals aTrJ other crethtr5 we fin￿￿al in5trumBrts we measured ai amortised COSL Taxation and soual security are not indudBtS in the fifia￿al instnjments dis¢k)SVfe defini￿n. Deferred incwe is not deemed to bE a finantsal luit4"lity. as the cash sewemenl has atrea¢Jy tsken place and Ihere is an ¢j￿gation to deliver s￿1r*S rather than ¢ash or financlal inslrurnent. 1.11 T•¥ation The a¢aderny trust is considered to pa55 ihe tests set out in Paragraph 1 Schedule 6 of the FI￿ce Act 2010 thefelore it rneets lh* defin1t1￿ of a thantsble company lor UK Corp￿¥t10n tax purpose5. Accordiryly. the academy trust is potentialy exempt from taxal*)n in respect of irthme or eaF4al gains received wthin categorie5 covered by part 11. c*apier 3 01 the corporats.on Tax Acl 2010 or Section 256 of the Taxation ol Chaigeabk Gains ￿ 1992. 10 the extsnl thal such iN*me ty gauls arè applied to charitable purpos*$. 1.12 PenslLNI benellls Rets"remenl benefits w empk*yees of Ihe academy trust are prO￿jeLl by the Teachers. Pertsiw Stheme CTPS'I and the Local GoveftNneni Pens￿)￿ SL*eme I'LGPS). These a￿ defined b¥iefit schemes. The TPS 1$ an unfvnded 5dJeme and rnntr*ulw5 •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 U￿n9 a ky0s￿l￿e 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 rEED9ni￿o 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 u￿lated at each balance sheet date. The amount5 charged to net income1lex￿lUreI 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 def￿ed b￿efft 014igaboD and Inte￿$1 irKorne on IhÈ scheme a55ets. calcu131ed by mul1sw￿"n9 Ihe faw value of the sckne assÈls at the begiming of Ihe period by Ihè rale used to disc¢xJnt Ihe benefit oblig3tions. The dIffe￿nCe betrw the ￿terest inctime C￿ the sc*eme 355eis and the aaual relum on tre sche￿* assets i% rerngn1Se￿ ￿ other recwised gains a￿1 losse5. Actuarial gains arn1 losses are rectsynised ￿￿r[￿diatelY in ¢Jlhw reojgrwsed gan5 and losses. 1.13 Fund accounting Unfestricted Ir￿ fijnds rewesent ihose res(￿[￿￿ rnay bp used tffiVa￿ meeting any ol Ihe charitable obJ"¢cts olthe acaderny trusi al the of the Irustees. Re51ricled fixed a558t lunds ¥e resowce$ whith are to be ap￿led ￿ specik Capilal purposes imposed by fvnder5 where Ihe a55et acquired or rJeated is hels lor a 5pwfic purkw. Restricted genera fvnd$ Corn￿$e an 011￿ ￿Str￿￿ed funds receb¥ed ￿th restrKtions imposed by the funderl(lonw and ind(Nle frw Ihe £Ll￿ats"(￿ •)d Sknms Fthylirva Awcy or Department fw 1.14 Critical a¢¢ountin9 estirnatss and ¥r••s of ]￿$￿•￿•nt E5bmale5 and judgements are cOn￿nUalfy ev￿Uated *)d ￿ based ￿ histori¢al expewKe and olher fac￿5. inGltyYing expe¢talion5 c*1 l(#JJre events Ihat we befieved to be reasonab￿ utKler the oroJm*arKe5. 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$5umplions Ihal have a sigrrificanl risk of Caus¥￿ a malerial adju51menl lo the ¢•nwng amounts of assets and liabilitie5 Wthin the nex1 financTal year are thscu55ed belLYW. The present vahJe of Ihe Locat Govemmw* Pensh>) Scheme defined benefit Ik*'lty depends cfi ¥ number of laetors Ihal are determined on ￿ atharial basis ugng a variety ¢1 aS$Umpti￿5. 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 ￿'3￿1ty. FUrtherM￿e a roll lo￿ard approach whith projects results from Ihe latest full aciu*ial ¥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 tr￿rsary fiJnd5 from ESFA. Payment5 received from ESFA and subsequent disbuisements tv students are excluded from the slalement of finanoal activ*ie5 as the trust does not have contrc4 over Ihe ¢hari*We 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 ￿a￿Me4)t of finartC4al acknvities. The lund$ rece￿8￿ 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• un￿StrIcted R*stri¢ted funds hmds 2011112 Total 202W21 Total Short twm deposts 157 157 2021 total S. Expenditure Slaff ¢￿ts Non pay e¥pendlbJ P￿￿1$*$ 2021122 Totsl 2020121 Total AGadery¥y's educab0￿ OFeral￿n$ 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 $92 90.555 4.300 6. Charilable a¢tl¥hles Restricted Unrtstricw pension funds fund restricted lunds 2021122 Total 102a121 Totsl Educat]onal operaoons Direct c051s Educab"¢Jnal opera1m￿S Support costs Ellucational (4]era￿lS 4.375 1.277.794 1.282.169 1.154,928 24.547 28.922 297,000 297.ts 928.800 2.2C6.594 1.250.347 2.532.516 ¥21.043 2.075,971 2021 totsl 161.C(Kl 1.894.887 2.075.971. Page 30 Thè Htvè College {fomierty Wilson Stuart UC8 Partnershlp Trust) IA Company Limited by Guarantee) Notes to the finanelal statemènts for th• year ended 31 August 2022 leontinuedl 6. ChariiAblo activits85 Icontiwmwdl Educ*tional operation$ 20J Total 202LV21 Total A￿lysIS 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 202￿21 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 $t*em¢nts for th¢ year erbded 31 August 2022 {continuedl 7. siaff l¢ontinu•dl cl High¢r pald stsff Z02112Z Number ZD20121 Nwiber The number of employees kne empknyee benefrts lexduthNJ emp￿Yer pensM)n ¢o$lsl ex￿eded £fA).I)X ￿$. £60,001- £70,OJO dl Key managem•nt personnel Thè key manag*ment petsonnd of the a¢aJerny tru51 comwse the tru￿eets and Ihe senw)r management tsam as listed ￿ page l. The total amount of employee beneffts (Incl￿0￿9 empbyer pertsion eontribultrjns aThJ employer atK)nal insurance cOnt￿ul￿n5) received by key rnanagemenl persomd for th￿( seNicès 10 the academy Irusl was £170.gJ912021.. £159.924}. 8. Related Party Transactions- Trnstees. remur*ration •nd expenses No tru*ees have been paid rem1￿*r¥IN￿ or have received olher benefft5 from an employment *ilh the academy trust. During the year ended 31 Augusl 2￿2. rKJ trnvel •d S￿Ster￿ eygÈn$es were ￿rnt￿rSed or paid diie¢iiy to any trusiees. Olher ￿lated party tyansadion5 intyving Ihe Injstees are set •Jl in r￿te 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 ind￿le￿ in Ihe tolal insurance a￿t. 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$12022 286.564 47 556 61.334 1,lJ68.489 Ai 31 Augu512021 52.525 285.920 67.513 25.341 95.148 529.447 Cos1 or valUa￿ft al 31 Atyjusi 2022 s repres¢r4ed by". A55ets nder ti)nstsu¢bon Leasehold Fltbngs and Compultr hardware bubliFin9$ 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￿•￿ It￿Me at 31 August 2022 42.263 36.516 At the balan￿ sheei d*e the academy trvst was fuThYs received In advance for Srthgot Condilh All0vra￿e 01 £34 070. Devolved Fomiula Captsl grnni of £5.050. and 16-19 Turtion Funding of £3.413. I￿L•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 Icc*ntlnuedl 13. Funds Balance at 1 Sèpt¢rnber 2fj21 G•lns, ltssses and transfers Balance It 31 Augllst 2022 In¢ome Exp¢nditure ft￿trI¢ted gen*r•l fvnd$ General Annual Gr￿1 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 R*striGtsd fix¢d asset fund8 OIE Group caFital gfants Capital eXper￿ure 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$tricted funds 6.522 6.522 12.683 12,683 3S.083 8.9221 Total fund5 1.043.697 2.910.337 792.cx)) .532.516 2.243.518 The speufic puwes forwhth the lund5 are to be apphed we as fdlm". Restricted general lunds These ¢(Knprise au resiricted fi￿d5 Olhw than re$￿ted fwj h￿d$ an(1 in¢kth 9Mts frorn The Education and Skills Funding A9ency. The academy trust is wl sv4"e¢t to GAG carf*d fcowzfd frnits. Unrestricted Ivrtds These comprise resources Ihal rnay be used towards meeting wy of the eh*itai* 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 4*there the asset a¢))uir&l ￿ (seated iq hdd lry a spec1r￿ purpose. Page 35 The Hlve Coll•9è (formerly Witson Stuart UCB Partne￿bIp Trust) IA Company Limited by Guarantee) Notes to th• finanelal $tstements for th• y•ar •nd•d 31 August 2022 (continued) 13. Funds (Gontinuedl Comp•rnlive infO￿ation in respect of the prEceding p•riod is as folbows: BalanGe at 1 5tptrmbtr 2020 Galn5, losse$ and In¢¢m¢ Exp*rN1ityY* tsan$fers Balan¢e at 31 Auyust 2OZ1 R¢5tricted 9gn•ral funds General Annual Grani {GAG} Othèr Covid-19 lundin9 Othei grants 767.939 994.1S0 53.170 1.345.826 2.393.146 1405.3361 153.1701 1.345.826> 1.804.332 1186.0251 1,170.728 767.939 186.025 1.170.728 Res¢ricted fixed asset funds DfE Group rapilJ grants Capitsl expenditure from GAG Capitsl eVn(hIu￿ fvom olher 103.Th) 289.202 39.535 (21.1711 168.1341 11.2501 .555 122.354 407,093 186.D25 394.442 39.535 186.025 529.447 Pension reseple 161.QJ) 63.000 Total restrlcted funds 754.381 2.432.681 1.037.175 2.055.88 ilnrestricted lu*ds Other income Total unrestricted funds 4.248 4.248 22.358 22,358 (20.0841 6.522 6.522 Totsl lunds 758,629 2.455.039 2.075.971 4.0 1,ts13.697 P￿e 36 The Hive College (formerly Wilson Stuart UCB Partnershlp Trusti IA Company L1rnIt￿ by Guarantee) Notes to the financial slat•ments lor the year ended 31 August 2022 Iconllnuedl 14. Analysis ol net assets bei**en Fund balart¢S ai 31 August 2￿22 a￿ ￿presented ty". Restrictod pensio fund$ Restricted fixed asset fvrnds un￿$￿iC1ed fvAds general lunds Total Iwids Tangible fixed ass*i$ 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 f￿loWS.. Restricied Restrreted Restricled rixed 4$S¢t pension general fund$ fvnts Unrestrictsd Totsi funds Tangible fixetl assets Curyent asseis Current liabilil*S 529,447 $29,447 1.497.011 319,761} 1.706.697 663.OC#) 1.043.697 6.522 1.49J.489 319.7611 1.170.n8 6.522 529.447 scheme liatwlity Total net assets 663.000 1663.OC4JI 6.522 1.170.728 529.447 15. Capital conrnitments 202Z 2021 Cwtracled for tr*Jt rnt pto¥idad in Ihe fmznri* statemerts 812.976 40.025 16. Conwnitsnents under operating leases AI 31 Au9usI 2022 the ¢otal of Ihe Acadwny Trust's fulure minirnum lease paymerts rth cancellab￿ operating ￿8$e5 was" Toial 202Z Ttstal 2021 Am￿nIS 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} A￿l￿sted for". Deprecia￿n 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 407,821 379.1￿6 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 $26.132 18. Cash Ilows frorn in¥•stiftg aeliyllles 2021ll2 Tolal 2020121 Totsl Inleresl re¢eNed Purchase of lar¥Ji￿e fixed assets Copiw grants from OIE (kn 157 (628,3621 63.582 106 P27.5831 39.535 Net cash used in •￿eSting activitiès 564.623 187.942 19. Analysis of ush and Cash equivalents At 31 August 2021 31 August 2022 Cash at bank and ￿ h*d 2.072.625 2.072.625 1,327.922 1,327.922 ZO. An•ly$i5 of changes in net debt At 31 August 2021 Other non- experien¢e gainsfftJ$ses 1.211.( 397.C 24.(KXI 759.0(Xl 253.OCw) 13.000 26.000 195.000 114.(MJ)I 122.OCQI 1822.(KKII 15.(XX)I 4.OCQ Al 31 August 2022 844.CA)) 1.211.000 Pa9e 41 Th• Hivè Collegè Ifomierty Wilson Stuart UCB Partne￿hIp Trust) IA Company Limited by Guarantee Not•$ 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 contri￿11(￿$ 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 li*tMfity 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 1xgani￿I￿S. tsansactions may lake place ￿th ¢yganisalths in which truslÈe$ have an interest. The folk7wing related party transacbm(sl took rAace dtsring w*Jd: ure and in Educatk*A IM￿(t Academy Trust Charitab￿ ccffjpary in trthich S Pmtyhes and J Harris are tn151ees 2022 2021 SeNces iec*arged lo related ¢wpany durw the penc#J PuFchase5 Irom related C￿panY during Ihe perK*J Amwnl due to ￿lated cornpary at per￿0 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 0￿￿b$allOnS are Co￿lL￿￿ed ¢n ac£ud￿Ce the requiremems ol the Academies Trusl Handbc*)k. Page 42 The Hlve College Itormerly WiL8on Sttsart UCB Partnership Trusti IA Company Limiled by Guarantee) Not•5 to tho financial ¥tatem¢nts forthe year ended 31 August 2022 Iconttnuedl 24. Agtncy amngernents The academy Injsi dF51rilxJles 16-19 bursary fvnds lo St￿yeni$ as an a9enl ￿ ESFA In ffte acwjthg perK ending 31 August 2022 the Irust re￿Ved £12,874 12021. . £10.9431 and Ilistwtsed t11.587(2￿11 .. £9.1721 from the fund. There 15 a baknce of £9.01212021 .. E7.725} at Ihe Jyar rdairy to ullth5ti1b￿ fuTrJs. 25. Contingent liatNlilies Follo￿n9 recent dea&on in ihe Harpw TNst v$ 8razel case ts trusl is C4ns￿￿￿9 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: 1. 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 2. 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