The Hlve College Reference and Administration Det•ils Year Endad 31" August 2023 Members l Trustees Mr S Hughes Mr J Harris Mrs D Rush Mr C Hussey Mr D 8ewiiiett Ms A Lofthouse Mr l Lang Appointed 1510712015 Appointed 0110112022 Appointed 1510712015 Appointed 0610712017 Appoinled 1310712018 Appointed 1611012020 Appointed 0110612023 Resigned 0710712023 Accounting Officer Resigned 0110612023 Chair of Trust Board Senior Leadershi Team Chief Executive Officer College Principal College Assislant Principals Mr J Harris Mrs K Everton Ms D Bryan Williams Mr M Shieber Miss H Mandleberg Chief Finance and Operations OffI￿r Appointed 0110912022 Company Name The Hive College Reglstered Office Perry Common Road Erdington Bimiingham 823 7AT Cornpany Registration Nurnber 096B7904 (England and Wales) Charity Registration Number 1168589 Auditors Feltons IBham} Ltd 8 Sovereign Court 8 Graham Street Bimingham B13JR Bankers Lloyds Bank pl 25 Gresham Street London EC2V 7HN Solicilors Browne Jacobson LLP Ictoria Square House Victoria Square Birmingham B2 4BU Page I The Hivè College Truste8s' Rgport Year ended 31- August 2023 The Truslees presentthelr annual report together with Ihe financial statements and audilorfs report ol Ihe charitable company for tha period 151 Septembèr 2022 10 31st August 2023. The annual report $eNes the purposes of both trustees. raport and direclors, report under company law. The Independenl Specialist college catered for &115 High Needs puplls aged 19 10 25 in 202212023. Stiu¢tur¢. Gov¢rnanG• and M4na9ement Constitution The college ts a oimpany limited by guarantse and an exempt ¢harity. The Charitable Company's Artides of Association and the Funding Agreement are the primary governing documents of the college. The Trustees of The Hive College are also the directors of the Char"rtable Company lor the purposes of company law. The Charilable Company is known as The Hive College. The Hive College became a whollyaowned subsidlary of Education Impact Academy Trust on 1* September 2022. As a resulL Education ImpactAcademy Trust became the sole Member of The Hive College. Detsils of the Trustees who served throughout lh8 year are in'dud8d in the Referenc& and Administrntive Details on page 2. Membe￿, tsabili Each member of the Charitable Company undertakes to Contribute lo the assets of the Charity in the event of rt bein9 wound up while they are 8 memtser, or within one year after they cease to be a member. such amount as may be requi￿￿, not exceeding £1, for tre ¢Jebls and liabilities contracted before they ceased to be a member. Tnista&$' Indemnities In accordancE wrth normal commeroal practice the ￿llege has purthased insurance to protect Trustees and officers from claims arising from negligent acts, errots or omission occurring whilst on colkge business. The insurance provides Trustee Liability cover up lo £5.000,000 on any one claim. rRecru ent an ointmen orEI The number of Trusteès shall comprise ol no less than 3 bul no more than 9. Trustees may be rfrele¢te¢J loc consecutive periods not exceeding in aggregale 12 years from the date of Iheir original appointment Co-opted Trustees may only hold office for 1 year. Polioes an ted oln ion and Tralnin ofTrus Training for all Trustees is tailored around their extstsng experience and skills and is arranged on an individual basis dependant on their specifrc training needs. l Trvste&s have access to informatson via the college member webstte which holds paperwork relating to past meetings and scheduk of future meetings. One of the Tnjstees is appointed as the safeguarding Trustee, reviews safeguarding in the Schools and provldes feet1baek on the reviews to the Trust Board. anisall'onal St The governance ofthe college is defined In the Memornndum and Articles of Association together wrth.the fijnding agreement wth the Department of Education. The Trustees have established a schedule of 6 meetings per year with designated content at each meeting. This will be reviewed annually bul specifically includes setting the college's policies. adopting the Self-Assessment Report ISAR) and budgei, moniforing performance againstthese plans and makir4J decisions r898fding wrriculum, achievements and welfare of students and slaffinglspending leveb. The Trustees have appointed an inlemal auditor to give assurance that the college's Fingnoal Procedures are being adhered to and lunds are being expended appropriately. Anan ements fors&ttin a and remune￿110￿ ofke mana emenl rsonnel Pay increments for all staff are subject to successful Perfomance ManagemenL Stsff have to meet specified tsrgets, set and monitored by line managers in line wilh the college Quality Improvemenl Plan IQIPI. an¢J specified Trustees in the ease of the college principal. Al staff are paid within range$ on nationally agrèed pay scales. P49e 2 The Hlvè College Trustees, Report Icontlnu¢dl Year Ended 31" August 2023 Related D8rties and o h r ConngcE¢d Chanties and O I mernbeTS and Trustees Complete a business interest declarations form on an annual basis. The declaratron sets out any relationship with bus5nesses, other edu¢ational esiablishments. Trustees gr college Staff. Each individual 15 required lo declar6 a potential "Gonflicl of interest" il it arises between such declarations. Once a declaration has been made. the individual concemed lakes no further part in any decision relating to the matter declared. In respect ol the ourrenl year, the Trust has the following relationships.. The Trust shares some of its faGililies with other sile users. including James Brindley Special School and Wilson Stuart School, and thus shared costs. Education Impaet Academy Trust is the sole Member of The Hive College. Tr de union facilifv time Information in accordance with Schedule 2 ofthe Trade Union (Facility Time Publi¢èton Requirements) Regulations 2018 is as follows: Relevant union officlals Number ol employees who were relevant union officials ¢Jurin the relevant period Full-time equivalent number Percentage of time Spent on facility tSme Percent¥ e of time Nurnber ol em ees 100° Percentage of pay bill spent on facility time Total Cost of lacil. Total FaGilit time as time Enil £1.870,572 0% ercen e of lolal Da Pald trade union activities Tirne spent on paicl trade union activities as 8rc8nta of total aid facilit lime hours Objectives and Activities Obiectives and Ain7S The college's objective Is to advan¢e education lor children a9ed 19-25 years, promote independent 5iving and access lo paid employment ￿ volunteering. Obiecfives. Strateaies and The main objectives for the period ending 3151 Augvsl 2023 are detsiled below.. To raise the slanLlard of educatK)nal achievement of all students, ensuring every student recewes high quality education with equal access lo resources and teaching To improve the effe¢tiven8ss ofthe college by keeping the curriculum and organisational structure under continu81 review To prDvide valu8 for money of the funds expended To comply with all appropriate statu￿ry and curriculum requirements Page 3 The Hive College Trustees. Report Icontinu•dl Year Ended 31" August 2023 To conduct the college's business in accordance with the highest standards of integrity and openness The strategies adopted for achievin9 these objectives are.. Monitoring and evaluating the college QIP ensuring it meets its aims Drivir¢g Best Value and VFM when procuring goodslworkslservices Scrutsny of and reporting to the Trust Board Signrficant acttvilies linked to the trust's charitable aclivilies. and how they further ils aims. have been: Work placements for students lo promote independence Parlnership5 wilh outside agencies and collaboration with universities and other schools Funding bids to outside agencies induding Education Skills Funding Agency (ESFAI and Local Authority Publi 8enefil In selling our objectives anrj planning our activities, the Trust Board has given careful consideration to the general guidance on public benefit published by the Charity Cornmission on their website at ov.uklloJiclrunninu- charifvlmanaaina-charilv in exercising their powers or duties. The Hive College is an equal opportunity employer and strives lo give full at)d fair consideration to all applicants for employment, training and promotions, irrespective of disability, gender, race, eolour or sexual orienlalion. Strategic Rèport Achievements and Performance 2023-24 Kev Performonce Indicotors IVE Sludv Pro ramm8 Sub'ecl lish Maths ICT Pre No of learners 26 26 26 25 Passed 23 21 21 22 Pass rate 81Q/o ration for Work | 880 4 sludenls were on Supported Internships, 1125DA) has tsken up an apprenticeship and 31750/0) have taken up volunteering foles Student Destinat￿nS 12 leavers.. Paid Employment O NEET 1 Apprenticeship 3 Volunteering 7 Social Destination O Education 1 Kev Performance Indicotors THRIV Stud Proora me Subect En Math5 ICT Preparation for Adulthood No of learners 31 31 31 31 Passed 25 22 22 22 Pass rale 810 71% 710 71°h Student Destin8tDns 8 leavers Social Destination 3 Volunteerin9 1 Education 3 NEET 1 Pag¢ 4 Th• HIVÈ Coll•g8 Tru5tses' Report Iconllnuedl Yèar Ended 31# August 2023 STRIVE Studv Protyramme Strive Learners Progress and Deslbnation Case Stud 2022-23 Student Start points Flnish points Student 1 No fun¢liornal Independent PECS user cornmunicalion method No funGtional COMMUn￿￿On method No functional communication method Low engagernent Tarytts 100° achieved 100% athieved 1000 achieved DeyAination Makadown day centre Applyin9 for Care first Family home tud¥nt 2 Inde￿nd¢nt PECV user Student 3 Cornrnunicating rnorelno rnore ¢onsislenlly using symbolslbody language Increased level of en emenl Making ¢hoice$ from 2 Higher level of engagement across curriculurn Independent PECS user Confident en9aging with a range of peopSe individually and in groups No longer ￿￿ng pwjs and able to indicate a need to use the bathroom Improved en9agement Making Chol￿S trom 2 Engaging with more of the curriculum when in college Placement ended due to lack of avai18bilrty for carers to attend colle Improved behaviour Independent PECS user student 4 Low engagement No functional o)mmunicalion method No functional communicab.on metho Lacked in conftdencÈ in groups Full suN)ort in the bathroom and y￿rIng ads Low engagement 100% achieved Extended PA hours Sludent 5 50% aehieved Moved to London Student 6 I￿￿0 achieved 50Yo achieved SENSE Student 7 Very low attendanee due lo health Sociable Low engagement Home Sludenl 8 High levels of anxiety No functional communication method No functional communicalion method Sociable Low engagement due lo low level communication Very low attendan loo% aehieved CaTe first Student 9 Uses PECS with eye gaze board Higher level of engagement 100% achieved The Ark Student io Student Wrthdrawn éuo to attendance Good relationships with key workers Shows preferences to stimulus Shows preferences lo stimulu5 Withdrawn due to health 0% achieved NEET Low level engagement High sènsory neèds 100% achieved Focus Bimingham Student 12 Sludenl 13 High sensory needs Low level anxiety Very low attendance due to health 100% achieved 0% achieved Current ¢are home Current care home Sludent 14 Low level engagement Shows preferences to slirnulus P051tive relationships with ke workers 100% achieved Day cenler Page 5 The Hlvè Colleg• Tiuste•s' R¢port Icontlnu•dl Year Endad 31" August 2023 Student 15 Sociable Engaged with stimuli Make choices from 2 objects Withdrawn due to moving back to family home using communication book lo support signing and verbal communic8lion h level of en ement Higher level of engagement with communicab.on b(x)k- ¢X>mmunication device brought Higher level of engagement in thè curriculum Better attitude towards 0% achieved Moved lo fomity hgme in Poland Makadown day centre Student 16 Low level engagement Very sociable 100¥0 achievèd student 17 Low level of engwJemenl wlh communicabon book High anxiety within college low level behaviour Sociable 100% achieved Brias barn Student 18 No funchonal communication Limited social skills du6 to lack of wmmunicat¢on Low en ement Huh level of anxiely No lunclional cgmmunicalion Attended for 2 weeks only qoved lo higher ability d8SS Able to communicate using communicatron bc•tsk Very sociablo 100% achieved Care first Student Withdrawn due to behaviour 0% achieved Social worker support Student 20 Other FE placement after tribunal 0% achieved Victoria College Student Destin?t￿n$ 20 leavws Sl￿la1 Destination 11 EdLKalion 8 NEET 1 Attend8nGe for the acad8miG ear LIVE- 87% THRIVE- 89% STRIVE- 82% Total average- 86% Retention for the academic ar 89% Direct costs as a percentage of tolal costs We￿ 53.1%12022 ". 50.6%) Support costs as a pertsntage of total costs were 46.90A12022 .' 49.4%) Total payroll costs as a p8rc8ntage of recurring income were 63.6%12022 .. 63.7%) Going Concern After making appropriate enquiries. the 8oaTd of Trustees has a reasonable expectstion that the ￿llege has a¢Jequale ￿$OUrceS to continue in operational existence for the fo￿Seeable future. For this reason, it conlinves to adopt the going concern basis in preparing the financlal stslements. Further details re9arding the adoption of the going concern basis can be foun¢J In the Statement of Accounllng Policies. Page 6 The Hive Colle Trusteès, Report Icontlnuedl Year Ended 31" August 2023 Financial Review The financial results of The Hive College are detailed in the following pages. It is consmlered thai the finances are sound and well established. The princip81 financlal management policies adopted are laid down by the Finance Handbook forAcademies published by thè ESFA and requirements as laid down by the Ac2demyTrusl Handbook. The prinGipal funding source is grant income from the ESFA. All expenditure of this grant income is pknned to fijlfil the objectives.and strale9ies of the college. During the year ended 31 August 2023 the college received total fvnding of£2,939,598 0)mpa￿d to lot81 rèsources expended of £2.695,347 to give a su￿lUS for the year of £244.251 which included depreciation of £112,887. Reserye5 Polic The Trustees continually monitor the reserve5 ofthe ¢oltege. This prrKess encompasses the natur8 of income arKI expenditure streams and the need to match commitsnènts with income and natur@ of reserves. 11 is the Trust Board's general policy to continue to build reserves which can be used for fvture educational purposes. The college had total funds al 311t August 2023 of £2,717,769 which included £822,283 restricted funds not available for general p￿￿OSe$ of the college, £13.980 of free reserves defined as unreslricled funds available for general purposes and £1,871,5(￿ which can ¢)nly be realised by the disposal of tangible fixed assets. The balanGe on restricted general fijnds (excluding pension reserve) plus the b8lan¢e unrestricled funds was surplus of £836.263. In addition. the surplus on the reslrided pension fund of £10,000 arises from an actuarial defKit on the lsxal government pen￿lon schcmc %thich will be dealt with as advised by the actutsry. The trustees regularly ￿VIeW the level of reserves to ensure the college is sustainable and monitor the number of months the reserve5 can fund. Investment Policv The college d￿S not have an investment policy bul follows the guidellnes of the Academy Trust Handbook. The school reviews investing ￿ndS in a high interest account on a regular basis depending on interest rates. Al 31st Augusl 2023. the college had no funds invested in a high interest deposit account. PnnciDal Risks and UnGertainties The Trustees have considered the major risks and uncertainties facing the charitsble company which include changes in legislation and regulalions and cash flow management and have put in place prwEdures to deal wilh these matters. During the Covid panrlemic eleclronic procedures were introduced for all business and operational systems which will be retained going foN4ard. Attention has also been focussed on non-financial risks arising ffom fire. health and safety. These risks are managed by ensuring accreditat￿n is up lo date. having robust policies in p5a¢e. and regular awarene55 training for staff working in these pperational areas. Outlined below is a description of the pnncipal risk faclors that may affe¢1 the college. However, not all factors are within ts)e college's control and other factors ￿$l¢jeS those listed below may alw adversely affect the college. l. Govemmenl funding The college has considerable reliance on continued government hjnding Ihrough the ESFA and the Local Authority (LAI. This risk has and will be Mit￿ated in 8 number of ways-. Considerable focus and investment is placed on maintsining antj managing key relationships with various funding l￿dies., Focus on priority sectors wh￿h will continue lo benefit from public fundlng., Conts'ngency planning is embedded into the academy bLKlget process. Page 7 Thè Hive College Trustoes. Report 1continue.dl Year Ended 31" August 2023 2. Funding penS￿n liabilit￿S The financial slalemenls ￿pOrt the Share of the local 9ovemment pension scheme def￿1t on the college's balon￿ sheet in line with the requirèments of FRS 17. The college takes professtonal advice on this p051tion and makes appropriate contributions on the basis of at adwce to ensure the def￿11 does not become unmanageable. 3. Student StraI￿Y The college attracls PT05pective sludenis by.. Delivering high quality educath)n: Maintaining outstanding SUCLess rates and good inspection outcomes.. Investing in staffing and resource3. Wrth on90ing commitrnent to quality, the ¢ollege provKles high quality learning environments for all the s￿dents. Fundraisin The college does not use extemal fundraisers. All fundraising undertaken d¥Jrfng the perlod was monilored by the Trustees. Streamlined Energy and Carljon R•portlng The Energy and CaTbon Reporting Regulations came into force on 1 April 2019. As the Trust ¢onsum&s more than 40.000 kwh of energy, we report below our energy consumplton for the year lo 31 August 2023. UK greenhouse ga$ emissions and •nergy so data Énergy consumpb'on US￿ to calculate emissions Ikwhl Energy cr>nsumpllon break down Ikwhl loptionall -Gas - Electricity - Transport fvel 202212023 202112022 574,715 579.840 469,184 4,500 81,031 493,288 4,500 82.052 Scope 1.. emissions in metric lonnes C02e Gas consumption Owned transp(yt- minibuses Total Scooe 2.. emissions in metric tonnes C02e Purchaseoj electricity Sc¢xJe 3.. emissions in emDI eeaowned vehicles Total gross emi$$ion¥ In metri¢ tonnts C02e 89.31 2018 109.49 89.87 2018 110.95 0.93 0.13 110.SS 0.82 0.14 111.91 Inten$1 ratio Tonnes C02e er student Student numbers 0.93 1.09 119 103 QuantifJe4tion and R•portlng M•thodology We follow the Govemmenfs 2019 Environmental Repottng Guidelines and 2020 Conversion Factors for Company Reporting, as well as Ihe GHG Protocol Corptsrale Accounting and Reporting Standard. The chosen intensity measurement ratio is total gmss emissions in metric tonnes C02e per sbjdent, the recommended ratio for the sector. Pa9e 8 The Hive College . Trustees. Report (continued) Year Endè(J 31* August 2023 Measurès Taken to Improv* Eneryy Effi¢l¢n¢y The Trust is starting lo develop an overarching decarbonisalion strategy and has the ambition to move towards renewable energy sources such as solar powerover the next five years We are aboutlo embark on comprehenslve Site surveys lo investigate the exlenl lo which we can embrace this sourcE of energy. PlaTr5 for Future Periods The college's student numbers h8ve incrtased steadlty Irom 10 In Saptember 2013 to 103 In September 2022. In September 2023 the number of commissioned pL7ces is 120. The college facilities will continue to be developed and further capital inveslment will be sought lo faciliiate thi$ expansion. Funds held as Custodlan Trustee on beham of others Neither The Hive College nor the Tnjst Board is actin9 as third party custodian trustees. Audilor In so far as the Trusteès a￿ aware.. there is no relevant audit infomation of which the CharitablÈ Companls audttor is unaw¥￿- and the Trustees have taken all steps that they ought to have taken to make themsefves aware of any relevant audil intormation ana to establish that the auditor is aware of that infomiation. Trustees, report, incorFK)raling a Strategic rewrt, was approved by order of the Board of trustees, as the Company directors. on 8 December 2023 and signed ¢)n the boartj's behalf by.. Slgned: C. Hu$$ey Chair of Trusteès Page 9 The Hive College (A Company Limited by Guarantee) Annual Report and Financial Statements Year ended 31st August 2023 Company Registration Number 09687904 (England and Wales) Charity Registration Number 1168589 Feltons. Chartered A¢countants Birmingham B1 3JR *ACUYDriow' 1WOir2024 COMPANIES HOUSE #75 The Hi¥e College FH*ncial S13tements. Year Ended 31JtAugust 2023 Contsnts Page Rele￿nCe and Administrative Detals Trustees. Report G0Veman￿ Statement 10 Statement on Regularity. Propriety ar￿ C(¥nF4iance 13 Statement of Trustees. Responsitmlities 14 Independent Auditorfs Report on the Finan(aal Statements 15 Reporting Accountanfs Resth on Regularity 19 Statement of Financial Activities incorporating Income & ExperKliture Account 21 Balance Sheet Cash Flow Statement 23 Notes fomiing part of the Financyal Statements, incorwrating.. Statement of A¢¢ounting Policies 24 Other Notes to the Financial Statements The Hiv• Coltege Refewence and Administration t)etsils Year En(led 31* August 2023 Members l Trustees Mr S Hughes Mr J Harris Mrs D Rush Mr C Hussey Mr D Bennett Ms A Lofthouse Mr l Lang Appointed 1510712015 Appointed 0110112022 ApF)ointed 1510712015 Appointed 0610712017 Appointed 1310712018 Appointed 1611012020 Appointed 011C612023 Resigned 0710712023 Accounting Officer Resigned 0110612023 Chair of Trust Board Senior Leadershi Team Chief Executive Offi￿r College Prinapal College Assistant Principals Mr J Harris Mrs K Everton Ms D Bryan Williams Mr M Shieber Miss H Mandleberg Chief Finan￿ and Operations Officer Appointed 0110912022 Company Name The Hrve Cojlege Registered Office Pefry Common Road Erdington Bimiingham B23 7AT Company Registration Number 09687904 {ErvJland aryj Wales) Charity Registration Number 1168589 Audstors Fe￿on$ (Bham) Ltd 8 Sovereign Court 8 Graham Street Bimiingham 813JR Bankers Lloyds Bank pl¢ 25 Gresham Street London EC2V 7HN Solicitors Brobyne Jacobson LLP Victotia Square House Victoria Square Bimingham B2 4BU Page I Th• Hive CoN•98 .. Tntstees. Rewt Ye•r Ended 31- August 2023 The Trustee$ presenttheir annual Tewttogetherwth theffinancial slatements and auditorfs reportoflhe charitsble company for the period 111 September 2022 10 311t Augu* 2023. The annual rewt serves the purposes of both Iruslees. rèport and directors. report underoynpany I￿. The Independent Specialist college catered for 0115 HvJh Needs pupils aged 19 to 25 in 202212023. Strncture. Governance and Management Conslilut. The college is a company limited by guarantee and an exempt charity. The CharitalAe Company's Article5 of AsscKiation and the Funding Agreement are the primary goveming dc¢uments of the wlkge. The Trustees of The Hive College are a150 the direclors of the Chariiable Company for Ihe purposes of company law. The Charitsble C(%n￿Y is known as The Hive College. The H¢ve College became a wholly-owned subsidlary of Educa￿ Impact Academy Trust on 1S1 SeptemLEr 2022. As a result, Education Im￿t Ac*tsmy Trust became the sole Memter ofThe Hive College. Details of the Trustee5 vtho served IhrOugh￿jt the year a￿ induded in ihe Reference and Administralwe Details on page 2. Members. Liabil" Each member of the Charitable Ccthpany undertakes to w)tribLrte to Ihe assets of the Charity in the evenl of it being wound up while they are a membèr. or within one year after they ￿3$e to be a member, such amoLrnt as may be required, not exceeding £1 for the debts and liabifities contracted befo￿ they ¢eased to be a member. Twstees, Indemnilias In accordance with normal C(￿￿M￿ClaI praC￿e the cdlege has purthased Insuran￿ to protect Twstees and officers from claims all￿ng from negligent acts. efrors or omisston ctturring whilst on ¢￿￿ge business. The insurance provides Tnjslee Liability cover up to £5,000.CK)O on any one claim. Method olRec itment and Ele¢t The number of Trustees shall Cofnprise of no less than 3 but no mole than 9. Tnjstees may be re-ete¢ted for ¢onsetyJb"ve periods not exceethn9 in aggreg* 12 ye*s from the date of origi￿[ app)intrnent CNpted Trustees may only hok1 office for 1 year. PoI￿leS and ure ted for th& Induckn and Trnlnino of Tru Training for all Trustees is tailored around thewexisting eXper1er￿ and skils and isarranged on an individual basis dependanl on their specffic trainrng needs. Al Trustees have access to inforniation via the college member website Wh￿ IN)Jds pa￿er￿t1( relating to past meetings and schedule of futu￿ meetings. One ofthe Trustees appointed as the safeguarding Trustee, rev*ws safeguarding in the sthools and provides feedback on the reviews to the Tnjst Board. anisa ional S The governance of the college is dthed in the Memornndum and Art￿leS of Assouation together %wth Ihe funding agreement wth the Oepartment of Educati¢￿. The Trustees have established a s¢hedule of 6 meètings per year designated content 8t each meeting. This will be reviewed annually bul speoficalty includes setting the colkge's pOl￿eS, adopting the Self-Assessmenl Report{SARI and budget monitoring performance againstthese plans and makry decisions ￿gardIng rJJrr￿￿I￿rn. athEvements and weTrdre of siudents and staffinglspending feveb. The Trustees have appointed an internal auditor to gNe aSSUrar￿ that the college's Fi￿ar￿la1 Prtxedu￿s arè beirhg adhered to and funds are being exwded appropnately. ments fors&ttin and ￿Mune￿I￿￿ ofkev n￿n rsonnel Pay increments for all slaff are subject to successfvl PerfOnyta￿ manageM￿l Slaff have to meet speufied targets, sel and monitored by line managers in line wlh the ¢olbege Qu31ty Improvement Plan IQIPI, and specified Trusteès in the case of the college princtpal. Al staff are pakd within ranges on natbonally agreed pay scales. The Hlve College Trusiees, Report (contlnuedl Year Ended 31" August 2023 Relaled narties and or r COnn￿ted Chant￿$ and Oroanisalions All members and Trustees complete a business interest declaralions fomi on an annual basis. Th8 declai3lion sets OLrt any relationship wth businesses. other educational estsblishments. Trustees or college staff. Each individual is required to declare a potential 'conflict of interest. if il arises befv￿en such declaraticfss. Once a declaration has been made. the individual concemed lakes no f￿her part in any decision relatir¥J to the matter declared. In respect of the Current year. the Trust has ihe following relationships: The Trtjst shares some of its facilities with olher srte users. m¢￿d1￿j James Brindley Special School Wilson Stuart School, and thus shared costs. Educ*ion Impact Academy Tnjst is the sc4e Member of The Hive Col*e. de ￿n￿n facilitv time Information in accordance w¢th Schedule 2 of the Trade Union (Facdity Twne PublTr¢8tion ReqUI￿rnents) Regulations 2018 is as follows.. Relevant union offlclals Number of employees vtho were relevant union officials ¢Jurin the ￿levant period FUl￿tirre eguivatent number Percentage of trme spent on lacilty time Per￿nta eoftime Number of emolo ees - 50V. 51%-99% Percentage of pay bill spent on facility tirne rotsl Gost of faol" Toial Facilit lim? as £1.870.572 0% ercenla e oftotal pa Pasd trade union aclivitres rime spent on paid trade union a¢bvities as a ercEnta e of total aid facil" time hours Objectives and Activitiès Obieclives and Aims The college's objective is to advance edui31ion ￿ chli (ken aged 19-25 years. promote independent living and acces5 to paid employment or volunteering. Ob eclives. Strateoies and AclAviti The main objectives for the period ending 31￿ August 2023 are detsiled below." To raise the standard of educational aGhievement of all students. ensuring every $ttJdent r￿eNe$ high quality edu¢atr¢)n with equal access to rescoJrc£s and teaching To improve the effecknveness of the college by keeping the curriculum and organisational structure under continual review To provide value for money of the fvnds expended To comply with all appropriate statuiory and curriculum requ1￿mentS Page 3 The Hive College Twstees. Rèport Icontinu•d) Year Ended 31" August 2023 To conduct the college's business in accordance with the huhest standards of integrity and openness The strategies adopted for achieving these objectives are.. Monitoring and evaluating the college QIP ensuring il meets its aims Dfiving Best Value and VFM when procuring goodthrwserviees Scrutiny of and reporting to the Trust Board signifi￿nI activitses linked to the trust's tharitable ¥tivth"es, and how they further its aims, have beers.. Work placements for students lo promole independence Partnerships with outside agencies and Collaboration with universities and other sch¢)ols Funding bids lo outside agencies including Education Skills Funding Agency IESFAI and L¢xal Authority Public Benefrt In settj.ng our objectives and planning our actsvilies, the Trust Board has given careful consideration 10 the gene￿1 guidance on public benefit published by the Charity Commission on their website al www.aov.uklloDiclrunnino- eharitvlmanaaina-charilv in exercising their powers or duties. The Hive College is an equal opportunity ernployer and strives lo give full and fair consideration to all applicants for employment, trainin9 and promots"ons, irrespective of disability, gender. race. colour or sexual orienlalion. Strategic Report Aeh5evements and Perforrnance 2023-24 Ke Pe orrn(Jnce Indicator5 LIVE Studv P ramrne No of learners 26 26 126 25 I Passed 23 21 21 22 Pass rale 889 81% 81° 880 En lish hftalhs ICT Pre aralion for Work 4 students were on Supported Internship5. 1 (25%) has taken up an apprenticeship and 3175%) have taken up volunteering roles Student Destinations 12 leavers.. Paid Employment O NEET 1 Apprentr"ceship 3 Volunteering 7 Social Destination O Education 1 Ke Pe ormonce Indicotors rHRIVE st£￿ Prooramme Sub'ecl lish Maths ICT Preparation for AdulthcL)d No of kamers 31 31 31 31 Passed 25 | Pass Tate 81% | 71• 71% 710 22 122 Student Destinations 8 leavers Social Destination 3 Volunteering 1 Educats"on 3 NEET 1 The Hive Coll•ge rru$tees' Report Icontinuedl Year Endèd 3131 August 2023 . STRIVE Studv Proaramme Strive Learners Progress and De￿inatIon Case Stud 2022-23 Student Start points Finish points SIutJent 1 No fyn￿lOnal Independent PECS user communication methtr No functional communication method No functional communicab.on methtrj Low engagement Targets 100° achieved 100% athieved 100% achieved Destination Makadown day centre Applying for Care fiTSt Family home student 2 Indepwdent PECS user StL￿ent 3 Communuting mordng more oinsislenty using s￿n￿l￿￿o(lY language In￿eaSe￿ le¥el of en ement Making choices fr(¥n 2 Higher level of engagement across ojrriujlum IndeFÉndent PECS user Confident engagirrfj with a fange of peop￿ individually and in groups No longer using pajs and able to indrAte a rwd to use the bathroom Improved engagement Makin9 ctto￿ from 2 Engagrng With rn0￿ of the curriculum when in college P￿tsrnent ended due to lack of availabilrty for carers to attend coll Imiyoved behaviour Independent PECS user Student 4 Low engagement No fvnctional oynmunication ￿th¢>I No functional communicaiion method Lacked in confdence in groups Full support in the bathroom and wearing ads Low engagement 100% achieved Extended PA hours Student 5 50% a¢hiev&4 Moved io London Student 6 100% achieved 50% achie¥e(I SENSE Student 7 Very low atter￿anCe due to heatth Sociable Low engagement Home Student 8 High ￿vets of anX￿ty No functional communicatyon method No functional omMun￿at￿N meth¢MI Souable Low engagement due to low level COTnmuni¢ation Very low attendan 10D% hieve(I Cafe first Student 9 Uses PECS with eye gaze l￿rd H&her level of engagement loo% athieved The Ark Student 10 Student Wthdrawn due to attendance Good relat￿$￿¥￿ wlh key workers Show5 preferences to 5bmulus Shows preferences io sb"mulus 0% achieved NE Low level engagernenl Hwh sensory needs 100% achieved F￿￿S 8imiingham Student 12 Student 13 Hvh sensory needs Low level anxiety Very low attenda[￿e due lo health 1CKJ% ath¢eved or*h achieved Cu￿ent care home Current care home Withdrawn due to health Student 14 Low level engagement . Shows prefererKes to $tirnulu$ Positive relationshtps wilh ke ¥￿J1k*1s Day center ¥thieved Th• Hlve College Trustees, Report l¢ontinued> Year Ended 31" Au9U5t 2023 Student 15 Sociable Engaged with stimu Make thoices 2 objects Wrthdrawn due lo moving back to famity home u￿ng communicabon book to support Signing and verbal ￿nmUniCat￿ln h level of en ement H￿3her level of engagemènt ith communicatKJn book- o)mmuftvl￿n devb brought Hi9her level of engagew*nt in the ¢urriculum Better athtude ttrwaros college Moved to higher abl￿ dass Able to c£•mmUn￿ using ommunica￿n book Very soaable 0% achieved Moved to family home in Poland Makadown day Student 16 Low level engagement Very scKiabie 100% achieved Slulent 17 Low level of engagement th communication book High aft￿ety vrithin college low level behaviour &Kiable Brias barn achieved StLKlenl 18 No functional communication Limited soual skilLs due to k of ￿Mmun￿ati.¢)n Low en ement High level of anxiety No functional mmuni¢ation Attended for 2 ￿￿ekS only 100% hieve Care first Student 19 Wthdrnwn due to behaviour 0% athieved Social worker support Student 20 Olher FE placement after tribunal 0% athieved ￿￿tOria College student Destinalx)ns 20 leavers Scoal Destination 11 Educats(m 8 NEET 1 ttendance forthe aca ar LIVE-87% THRIVE- ￿ STRIVE- 82% Tobl average- 86% Raren1￿n for the academic ar 89% Owect costs as a percentage of total costs *ere 53.1% (2022 '. 50.6%) Swwrt costs as a percentage of tota ￿)sts were 46.9% {2022 . 49.4%) Total payroll costs as a percentage of T￿rring income were 63.6%12022 . 83.7%) Going concern After making appropriate enqui￿. the Board of Trustees has a reasonable expeclation th* the Col￿e has adeqL* ￿$0￿[ce$ to continue in operational extslence for the foreseeable fvtu￿. For this reason. il continues to ad¢)pt the going concern basi$ in preparing the finanoal sLqtemerts. Furthef details regafdiro the adoption of the going con¢em basis ¢an be found in the Statement of Pc4icies. Thè Hivè College Trustees. Report Icontinueil) Year Ended 31" August 2023 Financial Review The financial results of The Hive College are delailed in the folh)Mng pages. It is con5KJered that the finances 8re sound and well established. The pnncipal financial management policies adopted are laid down by the Finance Handbook for Academie5 published by the ESFA and requirements as laid down by the Academy Trust Handbook. The principal lunding source i8 grant income from the ESFA Al eypendrture of this grant income is planned to fvIr￿ the obieclives and strategies of the college. During the year ended 31 August2023 the college receive(S total frjnding 01£2.939.598 compared lo lotsl resources expended of £2.695,347 to give a Su￿U$ fN the year of £244.251 whth include(I depreoatKJn of £112,887. Re es Pol The Trustees continually rrK)nitorthe reseNes of the colege. Thts prccess encompasses the na￿re of ineknme and expenditure streams and the need to match ccKnm¢tments wrth income and natu￿ of reserve5. It is the Trust Board's general poly to conts.nue to bijild reserve5 which can be used for fuiuce educalional purposes. The Col￿ge had total funijs at 31# Augusl 2023 of £2,717.769 which i￿l￿ded £822.283 restricted funds not available for general purposes of the college. £13,980 of free reserves defined as unre5tn"Gted funds available for general purposes and £1.871,506 wh￿h can only be realised by the disposd ol tangible fixed assets. The balance on reStr￿ted gen￿01 fiJnds lexduding pens*)n reserve) plu5 the balan￿ on unrestricted funds was a surplus of £836,263. In addition, the surplus on the restricted penshjn fijnd of £10,OCKJ arises from an actuarial deficrt on the local govemmenl pensron scheme whth wll be dealt wth as advsed by the aciuary. The trustees ￿gUlarlY review the levd of reser¥es to ensu￿ the college sustsinabk and monitor the numtEr of months the reseNes can fund. Inweslmenl Polic The college doe5 not have an inve5trnent Folw but fotk)ws the guthlines of the Academy Trust Handbook. The school revièws investing funds in a high Inte￿$t account on a regular basis deperKling on interest rates. At 31 August 2023. the college had no funds invested in a h￿￿ Inte￿5t dep05rt a¢￿Unt Princitsal RAsks and Uncertaint￿$ The Tnjstees have considered the major risks an(1 uncertainties facing the ¢haritabie company which indude changes irt legislation and regulat￿$ and cash tlow management and have put in pkn proc&Jures to deal with these matters. During the Covid Pandern￿ electronic procedu￿$ We￿ intrtry￿ed ft)r all business and operational systems wfuch will be retained forward. Attenlton has also been f￿￿$$¢{1 ￿ nonthnancial risks arising frcffi fire. Tr￿31th and safety. These risks are managed by en$uTing acuedrtation is up to date, having robust poli¢*s in pla￿, and regular awareness training for staff working in these operational areas. Outlined below is a description ofthe prinapal risk faths that may affe¢t the college. However, not all factors are within the college's control and other fact￿ besides those listed below may also adversely aff￿1 the colkge. l. Govemment fundi The wllege has considerable relHrKe on continued government frJnduvJ through the ESFA and the Local Authoiity ILA). Thi5 risk has and wll be miti.gated in a number of ways". Considerable f(tus and investment is pLgced on maintaining and rnanagirwJ key ￿latIonShipS with varic4Js ftjnding bodiès.. Focus on priorrty stttors wh￿h wll c(￿tin￿ to be￿t fr(m public fvnding.. Conkn"ngency planning is embedded into Ihe xademy budget proGes5. Th• Hfve College Tn￿lee￿, Report letintin¢*d> Y•ar Ended 31° A￿￿t 2023 2. Funding p8nsK)n liabilities The financial statements re(￿ the share of the govenjment pension schew deficit on the college's balan¢e sheet in line with the requirements of FRS 17. The college takes professtyjnal adv￿ on thts posilion and makes appropriate CL)ntrtht•)ns on the basis of that advte to ensure the defKit thaes not become unmanageable. 3. Student strategy The coUe9e attracts prospective students by: Delivering high quality education.. Maintaining outstsnding success rafes al￿ gcth insFectI￿ Out￿mes. Imiesb'ng Tn staffiTr3 and resources. Wrth L￿gOIng commttmenl to quality, the coltege provbjes hbJh qualty leaming environments for all the students. FUndraI￿n Th"e college djes not use extemal fundratsers. All lundraisirwj uThJertaken during the Pe￿ was monitored by the Trustees. streamlined En•rgy and Carbon Reportlng The Energy and Carbon ReKx)￿ftg Regulations ¢2me into force on 1 AprTI 2019. As the TnJ5t consumes more than 40,0￿ kwh ofenergy. we r8POrt bekny our energy consumplK)n the year to 31 August 2023. UK greenhouse gas emi5SK>ns and energy use data Energy ctmsumpti￿ US￿ to calculate eMissi￿S (kwh Energy consurnpti￿ break do4vn {kWh) {cytisxall -Gas - Electrtcity . Ttanswt fuel 2022r2023 202112022 574.715 579.840 489,184 4.500 81.031 493,288 4,5DO 82.052 Sco e 1.. emissKJns in n￿lrIC tonnes C02e Gas Gonsumpti 1kn8d transport- minbi uses Total ScoDe2: emissions in r￿1¢ tr￿fte$ C02e Purchased e￿triCity 3.. emissions in erntsl ew•med vehide5 Tolal gross emb$ions In metri¢ tonnes C02e 89.31 2018 109A9 89.87 20.18 11OJS 0.93 0.13 110.ss 0.82 0.14 111.91 Int8ns ratio Tonnes C02e Studertl numbers S￿dent 0.93 1.(J9 119 103 Quantification and R•portSng Methodology We followthe Govemmenys 2019 Environmental Reporb"ng GUide￿ne$ and 2020 Conversion Factors for Company Reporting. as well as the GHG Protocol C￿￿￿ale Acc4)unting and Reporting Standard. The chosen intensrty measurement ratio is to￿ gross emissi¢)ns ￿ metric tonnes C02e per studenL the recornmended ratio for the sector. The Hive College . Trnstees. Rèport (continuèd Y￿r Ended 31" August 2023 Measures Taken to Improve Eneryy Efficlency The Trust Is stsrting lo develop an ovefarching de￿rbon[￿t1on strategy and has the amtNth)n to move towards renewable energy sources su¢h as solar poweroverthe nexifive years. We areabwtto 8mbark on C(￿prehenSive STie surveys to investigate the extent to %thi¢h we can ernbra￿ srwrce of energy. Plans for Future Periods The college's student numbers have Ine￿ased steadily from 10 in September 2013 to 103 tn September 2022. In September 2023 the number ol commis&oned pL3ces is 120. The college facilits'es wll continue to te develoFed and fvrther captsl invesbwt wll be sought to taalitste this expansion. Funds held as Custodlan Trustse M beham of others Neither The Hive College nor Ihe Trust Board is acting as third party (yJstcxJian t￿$t￿. Auditor In so far as the Trustees are aware". there is no relevant audit inf0m￿tioTr of whth the Charitable Compan*s auditor is ur¢aware,' and the Trustees have taken all steps that they ought to have taken to make themsefves aware of any relevant audr( inromial￿n and to estatAish that the a￿rtor is aware of thal inforrnaty￿. Trustees, rerKJrt. incorporating 3 Strateg￿ rerK)rt was approved by Ord￿ of the Board of trustees. as the . Company direclors. on 8 Decemter 2023 arKI signed ￿ the boarf's behalf by.. Signed.. C. Hu$$ey Chair of Trustees Hive Colleg• Go¥•rnanc• Report Ye4r Ended 31" AwJust 2023 Scope of Respon¥lblllty As Tnjstees, we acknovAedge have overnll resF4>n*bility for ensuring Ihal The Hive College has an effective and appropriate system ol control. financial and olherwi5e. However, suth a syslem ts designed lo manage rather than eliminate the risk of failure to achieve business obpcbves and provide only reasonable and not absolute assuran￿ against maten.al misStat￿ent or k￿. The Trust Board has delegated the day-t￿daY responsi￿1￿ to the CEO, as AL￿￿n￿ng Officer, for ensuring rinancial Controls confomi wth the reqU1￿meNts of propriety and 9￿j fman¢ial management and in accordance wrth the requirwments and responsibilitss assoned to the fvnding agreenEnl between The Hive College and the Secretsry of Stste for Edu¢ation. They are also reswnsible for rewrbng to the board of trusl8e$ any material weaknesses or breakdowns in intemal conlrol. Governance The information on govemance KKILKled here supplements I￿￿t descrit*d in the Govemors, Report and the ststement ofGovemors' reSpOn￿bIlitie& TheTrust Board has met fomwlly4 times during the perÈod to 3151 August 2023. Attendance during the year at meet[r￿S of Ihe Trust Board was as follows.. Trustee Steve Hughes Jon Harris Debbie Rush Calvin Hussey Dave Bennett ex Lothouse lan Lang Category Meeting$ Attended Tnjstee CEO & Tntslee Tnjstee Twsl Trustee Trustee Trustee Out of a Possible A review of govemance was undertaken during the year ideritified that 1 Trustee had missed 1 meeting. Therefore the￿ was *.2% attendance by Tntstees who contribut¢d to the disorssions and acted as a critical friend. Subsequent lo this the fdlowing acti¢Jns were tsken: Attendance of Trustees attendance ts publtshed on the ￿llege Trust *bsite Valid reasons are obtained for any meetings missed Non-attendance at meetuigs was dealt with The Trust Boafd met4 twnes during the year. Management ￿(mMts are F*)Sted to lh¢ Trust Board portal to ensure the Board have maintained Èffec*vè oveNghl ol fvrNls fewer than 6 recommended meetings per year. Trustees are invilgj lo view and comment on the xo)unts and Ihe months reviewed L% minuted al each meets'ng. Conflicts of interest are largdy awided by rnatnlwning an Upt￿date ￿l$ler of Business Interests so Trustees are aware. Page io The Hlv• Coll Go¥•manc• RgPOrt{¢onIin￿d) Y¢ar End•d 31- AugUSt 2023 Revlew of value for money As Accounling Off￿er. the CEO has ￿SP)nSID[l￿ for ensuring that the college delivers gc*Jd value in the use of public resources. The Accounting Offtcer understands that value for money (VFMI relers lo the educational and wider S￿letaI outcomes achieved ui relum for the taxpayef resowces receNed. The CEO considers how Ihe colkge's use of resources has prov*aed good VFM during each academic year, and reports to the Board of Tru51ees where VFM can be imwoved. including the use of benchmarting data where available. The CEO has delivered improved VFM during the year by.. Embedding best value and VFM in all slaff in the ￿llege to drive efficierbcies and economies. Review expenditure and contracts in line Ihe QIP. making adjustmenls based on etstivenes5 of slraiegies introduced in previous years Continuous review of the staffing stmcture. Securing extemai fvnding for spec[r￿ and bjenbfied prcI￿.. and Appointing an intemal au(lrtor lo provide assurance that the college has sound internal controls.,. The P￿r￿e of ihe System of Internal Control The system of intemal control is deggned to manage nsk to a reasonable level rather than to eliniir¢ate all risk of failure lo achieve policEs. aims and objectNes. It can therefore onty provllje reasonable and nol absolute aSsUra￿e ofeffectiveness. The system of intemal contrd is based on an ongoing prctess designed to k1entify and priorilise the risks to the a¢h￿vement of college's pOl￿e5. aims and objectives, to evaluate the likellhood of those risks being ￿alISed and the impact shoubj they be realised. and to manage them efftiently. effeth.vely arKI economically. The system of intemal control has been in pLace n the t¥)Ilege for the period ended 31¥ August 2022 and up to the dale of approval of the annual report an(1 ffinanoal statements. Capacity to Hand￿ Rlsk The Board of Trustees has ￿vIeWed ttie key risks to whth the ¢ol*e ￿ exposed together the operating. financial and compliance controls that have been implemented to mitNJate those ii5ks. The Board ofTrustees is of the view that there is a fomial on￿01￿ prctess for Klenbfying. evaluating and managing the ￿lIege'S sNJnificant risks that has been in place for thè year to 318t August 2023 and up to the date ol approval ofthe annual ￿POrt and financial staternenls. This process is reguk2rfy reviewed by the Board of Trustees. The Risk and Control Framework The college's system ol intemal financial control is based on a framewoTk of ￿￿lar management infomiation and administrative procedures including the segregation of dubes a￿1 a system of dele9atN)n and acc£Juntabilty. In particular. it indudes.. Comprehensive budgeting and rr￿nItoring systems wth an annual budget and periodic ￿anCial ￿ports which are reviewed and agreed by the Trustees. Regular reviews by the Twst Board of reFrfYts Wh￿ indicate financial perfcxmance ajainst ihe forecasts and of major purchase plans. caprtal W￿kS and exwditur8 programmes.. Setting tsrgets to measure financial and other performance.. Clearly defined purchasing {asset purchase or cao81 investrnentl guidelines. Delegation of authority and segregation of dutss.. and Identification and management of iisks. The Truslees have eonsidered the need lor a specrfic intemal audit tiJKti¢)n have decided to appoint S4S as an internal auditor. The intemal auditorfs role indudes giving advi¢e on financaal and operational matters and performing a range of checks on Ihe college's financial systems. In parbcuLar the ch*s carried out in the ￿rrent perKJd included". A comprehensive Teview of dats protedKin wacttts. The intsmal auditor wodLW biannual reports Wh￿ a￿ presented to Trustees on the operation ot the systems of control and on the discharge ofthe Trust Board's ffinanoal responsibiltties. There were no material control issues included in the internal audrt rep)rts prepared and wesented ￿ the Trnslees during the year. The extemal audrttr wrill present the Ststtjlory A￿￿nts in Novembw of year. Paje li The trfN¢ Coll• Governan¢tt Report {¢orrtin¥ed) Y•ar &id¢d 31- Au9USt 2023 Revi•w of Effectiveness As A¢¢ounting Ofter, Ihe CEO has reSp)￿bilty for revivwiFvJ the effectiveness of the system ol ￿ternaL control. Durin9 the Per￿ in question the review has be￿ Inf0rrn￿ by.. Thè w)fk of the intemal auditor thrcwgFk)ut ts PWKMJ: The of the extemal authtor. aThJ work of the Leajership Team have resP￿ibility deVelo[￿t and ma1nter¢è￿ce of the tnternal control fr4mewoth. The Accounting Officer has been of ￿ implicatiMs of the regjlt of their revitiw of the system ol internal control by the Trust Board and erwre continuovs improvwwt Of￿ systan is in place. Aptxov8d by ordw of the m8fTI)ws oflhg T￿t Board ￿ 8 Dewnter 2023 and styJned on its tehalf by.. Slgned= Signed: C. Hussgy Chair of Trustees Jon Harris Accounting Olficer The Hive College IA Company Limited by Guarantsel Statemènt of règulaffity. propritrty and compliance for the period ended 31 August 2023 A$ am)unting officerolThe Hive Cole9e. I ha¥e c•nsidered my reswnsl￿"Ify to ￿tifythe trust board oftrL&%tees and the Education and Skills Funi*ng Agerry IESFAI of maknial ryularity. inpropriety non-compliance ￿1h tems an¢J conditv)ns of all funding. indvth.ng ￿ estates safety and management, ￿[￿ Ihe fvrmling a9reemÈnt bthèen the trust and Ihe Secretary of Stste lor Education. As part tsf my tonsideratith I have had due ward to the uwements ofthe tntst Handt￿￿ 2022. w￿[￿jtng resp)nthltrS fur e*ates safety and mana9e￿l I confim that l and the trust board of Imstees art able to identify any material irregular or imwopEr use of fijnds by the trt2St, or material non-complonce ￿¢h the tem)s and tx)ndrtJons of thjndirg under the trust's fvrnding ag￿ement and the trust Handbook 2022. I wnfimi that no in$tances of malerk?l irwularity. I￿￿TrI9 nonpl￿ned in the finatytsal si*ements'. and p￿pare the finanoal 5tatemertts ¢n Ihe going cy)nc*m basis it is ir4ppTopwiate to p￿sume Ihat the antsble wnpany will ctintinue in busine￿. The tru¥te8s ar• ￿spOnS￿e tr keet4ng adequate reL¥xds thai ¥e SUff￿ent to slbjw and exp￿in the aritsble compan￿$ transactions and disdos? with reason*Ae acojrao at any timo the finane4al position of the aritabl8 coryany arKI enable Ihem to ensure Ihat the financi￿ stalements ￿pty wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company anL1 hence for tsking reasonable The trustees are r•$Fyporating Ihe strate9ic rerjyt and the directors, re￿rtI for ihè finanud year forwh¢ch the fnarKi* ststements a￿ prepared is consistent the finanaal stat￿ents. and Ihe strategic report the thre¢tcrfs' report have been wepared in ae¢tyth)¢e wilh wlkaNe ￿al requirèments. MatteTS on which we are required lo rwrt by •xc•ptlon In the light of Ihe knc**rfedge undertanding of the twst arrfl its environment obtained in th¢ eourse of the wdit. wè have not klentified material Misstate￿ in the strategic rep)rt an(1 the dwectots. rewt. We hav• nolhing to rep￿t in respect oflhe knkning rnatters in Tekn￿n to the Compatles 2(*)6 rety1￿ us to report to you rf. in our OvniG￿.. adequate acc￿ti￿j Tecords have not been kept the finanthal staterT*nts are Th)t n agreement *ith Ihe xcounkng records arwj rebjns; or cwtsin disdosu￿s of Irustees, remuneration by LYW a￿ rKst m*Je," we hove fttsl received all the inftrm)abon reqwr* for ow Page 16 The Hive College (A Company Limited by Guarantee) Independent Auditovs Report on the Financial Slalements lo the Members of The Hive College (continued} Responsib•litles of trustees As explained more fully in the trustees, responsi￿"11t1es st*ment Iset out on page 141, the tDJstees Iwho are also the dirèctors ol the charita￿* company for the purposes of company Law) are ￿spOnsible for the preparation of the rinancial statements and lor being satisfied that they give a true and fair wew, and for such internal control as the trustees deter￿￿ne is necessary to enable the preparab.on offinancxal statements thal are free from material In preparin9 the finanoal ststements. the Irustees a￿ responsible fry as$essing the charitable company's ability to contsnue as a going coneem. disclosing. as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the chaniable company or to cease operations. or have no realistyc alterrbabve but to do so. Auditorfs r•sponsibiliti•s for th• audit of th• financlal slat•m•nts Our objectives are to obtain reasonable as$urance ab)ut v*ffiether the finanoal statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinKJn. Reasonable assurance is a high level of assuran￿. but is not a guarantee that an audit ¢x)nduded in a¢¢ordan¢e with ISAS {UKI will always detect ¥ material mis5ts1emenl when il exjsts. Mi55ts1ements can arise from fraud or error and are considered material if. indNidually ry in the a99regate, they could reasonably be expected to influence the economic decisions of users taken on the ba￿S ofthese finanaal ststements. Irregularllies, including fraud, are instances of nonJmstances. bLrt not for the wrpose of expressw￿ an opinion on the effectiveness of the tharitable company 5 intemal control. Evaluate the approprialene55 of a￿￿Urbts.ng Oioes used the reasonablenèss of accwnting estimates and related disdo$u￿$ made by the trustees. Conclude on Ihe approprrateness of the tru5tees' use of the gotng ¢on¢em basis of accounting and. basèd on the audit e¥Oen¢e obtsirted. %thether a material uncertainty exists related to events or conditions that may cast significant doubt on the chantable company's atslity to continue as a going concem. Ifwe conclude that a material uncertainty exists. we are required to draw attention in our auditorfs report lo the related disclosures in the finanoal statements or. if such dis¢Tosures are inadequatè. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future e¥ent5 or conditions may cause the ¢harilable company to cease to cmb.rnve as a goin9 ¢on¢em. Evaluate the overall presentaiion. strLK*Jre and content of the financaal ststernents. induding the ¢Jis¢kssuros, and whether the financial statements owesent Ihe undertyiNJ transadions and evenl$ in a manner that achieves fair wesentation. We cOmmL￿1cale wth those charged with govemance regarding. arrtong other matters. the planned scope and timing of the audit and significant audrt findings. induding any s19r￿fIcant defityentses in inlemal control that we id&nlify during our audit. Use of our report This ièp)rt is made soltly to trusys m*nbers. as a body. in accordance ￿1h Chapter 3 of Part 16 of the Companies Act 2006 Our audit wwk has been unt1ertaken so that we mwJht state to the charitable company's members those matters we are required to slate to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyon* other than the trust and trusvs members as a body, for ojr audil work. for this rert or for the opinions V•* have fomied. David W Famsworth FCA (Senior Slatutory Auditor) For and on behalf of FeW¢)ns. Statutory Auditor 8 Sovereign Court 8 Graham Street Birmingham B13JR 20 December 2023 Page 18 The Hive College (A Company Limited by Guarantee Independent Reporting Accountanvs Assurance Report on Regularity to The Hive College and the Education and Skills Funding Agency In accordance vmth the terms of our eroagement letter dated 22 March 2021 and further to the ￿qUIrementS of Ihe Education and Skills Funding Agency IESFA) as induded in the Academies Accounts Direct￿￿ 2022 10 2023, we have carried out an engagement to obtain limrted assurance about vthether the expenditure disbursed and Income received by The Hive College during the period. 1 September 2022 to 31 August 2023 have been applied lo the purposes identsfied ty Parfiament and the finanaal transacb.ons conform to the authorib.es which govem them. This repNt is made sdety to The Hive Colege and ESFA in accordance with the temis of our engagement letter. Our work has been undertaken so that we might stale to The Hrve College and ESFA those matters we are required lo state in a report and for no other purpose. To Ihe fullest extent permitted by law. we do not accept or assume responsibilty to anyone other than The Hive College and ESFA. for our work. for this reF*Ni. or for the condusK)n we have formed. Respective responslbilities of Hive College's accounling officer and the reporting accounlant The accounting officer is lesponsib￿. under the requirements of The Hive College's ftjnding agreement with the Secretsry of State for EdLtcation dated 1 August 2016 and the trust Handbook, extant from 1 September 2022. for ensuring that expenditure disbursed and income received is applied for the purposes intended by Padiament and the finanaal transactions conform to the authcritres vthich g)vem them. Our responsibilities for this engagement are established in the Unrted Kingdom by ow profession's ethvl guidan and are to obtain limited assLtrance and report in accordance with our engagement letter the reqU1￿mentS of the Academie5 Accounts Direction 2022 to 2023. We report lo you whether anything has come lo our attenth)n in carrying ¢JJl our work which suggest5 that in all material ￿spe￿$. expendittjre ¢Jisbursed and income ieceived during the period 1 September 2022 to 31 August 2023 have not been applied to purp)se$ inteThJed by Parfiament or that the fin8n¢ial transactions do not ¢onforn to the authorities which govem them. Approach We conducted our engagement in accordance vnth the Framework and Guide for Extemal Auditors and Reporting Accountant of trusts issued by ESFA . We performed a lunited assurance enga9ement as defined in our engagement letter. The obie¢tive of a limited assurance engagement is to perform SLth procedures as lo obtsin information and explanations in wder to prowde us vnth sufficient appropriate evidence to express a wative condusion on regularity. A limited assurance engagement is more limited in scope than a reasonable assurarKe engagement, and consequently does not enable us to obtain assurance that we would become awaie of all significant matters that might be identified in a reasonable assurance engagement. A￿rdInglY. we do Thit express a p05its.ve opinion. Our engagement indudes examination. on a test basis. ot evKJence relevant to the regularty and propriety of the trusfs income aNJ expendrture. The work undertaken to draw our conclusion includes .' cons￿er8￿0n of the applicable legi￿atiOn and the trust's funding agreement Review and evaluation of the trusfs systern of intemal conlrols Examination and assessment of the AcccyJnting Officerfs Staterr￿nt on RegularTty. Prowiety and Comdiance Examination. ￿ a test basi$, of third paty wdence supporting i1￿orne and expenditure Review of exceptional and unusual items Page 19 The Hive College IA Company Limited by Guoranlee) Independent Reporting Accountsnfs Assurance Report on Regularity to The Hive College and the Education and Skills Funding Agency (continued) Conclusion In the course of our work, nothing has come to attenlKJn which suggests that in all material respects the expenditure distr4Jrsed and income received during Ihe period I September 2022 to 31 August 2023 has not been applied to purposes intended by Padiament and the finanaal transactions do not confomi to the aUt￿)ntIeS which govem them. oi4è David W Farnsworth FCA {Roporting Accounlantl For and on behalf of Felton$. Statutory Auditoi 8 Sovereign Court 8 Graham Street Birmingham B1 3JR 20 December 2023 Page 20 The Hi¥e College (A Company Llmlted by Guaranleel ststement of financial actrvities for the year ended 31 August 2023 Ilncludlng income and Èxp•ndiiure account) rtd 20￿23 2021n2 Income from: Oonai¥Jns and capital gra Charitable actiYitig5 ". Fun¢ing rot the trusfs *•Ju¢atwi pèr8tion5 150 89.652 89.eo2 68,152 29.126 210 IB20.4 2.849.586 210 2,872.028 157 Inv6simen Totsl 2.820.4flJ 89.652 2,939,$9 2.910.337 ExP¢ndltU￿ on: Chaliiabfe Athvrties.. The Trusle(luc4swl¢peratior 28,189 s2.¢￿1 2.502.271 112.887 2.695.347 2.532.516 28.189 52.cw 2.￿271 112.887 2.695.347 2.532.516 Net in￿m￿lIe¥pend￿turt} betore trdnsl• 1.297 152.ff 318.189 1232351 244.251 407.821 rrnnsfefs belw hJnd5 13 I￿.180} 8CA3.1 Net irtcomEllexperHliturél after tRnsters 1.297 152.CWI 1489.9911 784.945 244.251 407.821 Other ie¢tsynisRd gainslllo5sesl AGluaiBI g•in5 on defined tenefft pension Sd￿rr*S ).wo mc Net mov*m•nt In funds 1.297 I78.L￿o 1489.9311 784.945 474,251 1.199.82f Reconciliation olfvnds T+>l•l hjryls brought fonvard 13 11683 1168.rthi 1.312.274 1.086.&81 2.243.518 1.043.697 Toui tun¢Js carrfed fonvar(I 13.980 10.rm 822.283 1.871.506 2.717.769 2.243.518 The st*ernenl cffinandal a￿￿1￿$ I￿)¢•5 41 9aInS￿ bJ5ses r¢cow¥¢d ￿ th8 >￿. olthe trusts d¢ri¥e frcrn rAnlinthry opernih¥siJww4 the abrNe Fer*>Js. Page 21 Th¢ Hiyt College {A Company Ltmitsd IYJT Guarantee) Campany numbor: 09687904 Balance sthètrt as at 31 August 2023 2023 2022 Noies Fixed assets Taryjible asset8 10 1.821.5C6 1.068.469 Current•ssets Deb Cash ai bank an¢ in hand 11 251.424 347.253 2 072.625 2.419.878 3.320.086 Liabllitles credito￿ wnowlts fallirg ue one year 12 2.433.823 Net turrent assets ea6.263 1.343.049 Totsi ass•ts It￿ ¢uryent Ilabllltles 2.707.769 2.411,518 Defined benefft peftsK￿ a55aVlliabilityl 10.t)XI 1168.OOJI Toial net assots 2.717.769 2.243.518 Funds oftre trust: R•5trict•d lunds FLxeil a$set ILThl ResknL*ed 1￿m* frjnd Pension reserve Totsl restricted funds 13 13 13 1.871. 822,283 lo.c￿) 1,086.561 1.312,274 188.(￿) 2.703.789 2.2J),835 Unresui¢ied Income funds 13 13.980 12.683 Toial lunds 2.717.769 2.243.518 The financ2￿ slatements on p•Jes 21 to 44 *Ere approved Inthes. * 9th)n￿ for issue ￿ 8 De￿rnter 2W23 and are svjntd on Ih* beWfty' Page 22 The Hive College (A Company Limited by Guarantee) Statement of cash ftows for th• year ended 31 August 2023 202W23 2021Q2 Cash flows fr¢m operntin9 actlvltles Net cash prw¢Jed by operating actNibes 17 1.772.099 1.309.328 Cash Ilows from investing activilies 18 16,0tr21 {$64,6231 change In cash and ¢ash ￿ul¥•I¢￿￿ in th* rèporting Pgriod 996.037 744.703 Cash and cash equivalents at 1 September 2022 2,072,625 1.327.922 cash and cash equivalents at 31 2023 19 3.068.662 2.072,625 Page 23 Tho Hivg Colleg• IA Company Limited by Gu•rantsel Notes to the financial statements for the year ended 31 August 2023 1. Accounting polic*s A S￿nmary of thé prwwal acCO￿l￿vj Fd*iè5 adopted {7*tMth have be￿ appbed ￿rtS1$1enty. except t*there notedl. judgements and kèy sert￿et$ of esbmabon un¢wtsinty. 1$ setOLrt below. 1.1 Bas1$ of preparation The financial staiements of the tru￿. wPo"cb is a PLJtAic benefft enbty FRS 102, have been prepare(l under the hithcal cost ennvefitiw in *x0rdan￿ with the Financaal ReFoJrting siandard Appli¢able in the UK and R•put4ic of Ireland IFRS 1021. the ACc￿Jntin9 ReFrfMing by Charities: Statement of RecA)mmended Practice aP￿Icable to charilies preynro their acC￿￿ts in a¢xwdance the Financaal Reporbng Standard applieable in the UK and Republtc of Irdand (Charibes SORP {FRS 102)), the Acad•Thrie$ Accounts Direclion 2022 to 2023 is5u•d by ESFA Ihe Charths Act 2011 thè Companies Ac* 2006. 1.2 Golng ¢on¢w The trvstees asses5 whethtr the use of 9¢Jin9 C4ncem ts apwwi* i.e. vthether there a￿ any mateAal uncèrtamb.es related to events ￿ o>)dibon$ that may cast s¢gntsrt d￿jbt on the abilty of the company to ¢￿tinue as a gthn9 c¥)neem. The trustees make this assessment in respect of a perFod of at least one year from tre d*e of auih0rlsatic￿ ts issue of the finanual ststemènts and havè 0)r￿￿d￿d that the tJusl has adequate resowces to continue in operat10n￿ existen(* for thp fofeseeable fiJIu￿ and there are no matsrial uneen2inties ab¢yJt the trust's abitty to continue as a wng C￿￿. thus ihey continue to adopt the going cmm basis ofarrnunting in wgparwry the finarKial statem￿18. 1.3 Incomo l inctsming resour￿$ are recogniged when the Irust h93 entiljemtrt bj the funds. the receipt ts probabk and the am¢)unt ean be measurtd rttiably. Graftts Grants ore in￿ded in Ihe statem￿ of Fina￿al Acgiv1b￿ on a rewat4e basis. The ba&nce of incom• rec•N•d SFJeafic purposes but not expeThJèd dumg the per￿4 is Sh￿ in Ihe relevant funds on the balance sheet. Where irwme is received in advarte of meeb.ng any perfomiance-related etsndibons Ihtrre is nL* U￿ondit￿31 en1idement to the inCoff￿ re￿gnIty0rJ is deferre￿ and induded in uedrtw as delerreil irtrA#))e unbl,.the perf¢Mnwwelated rthditions are m￿. Where enliUemenlots>Jrs bekn is [￿Ned. the ino>ne ts acc¥ued. General Ann￿1 Gwt is rwrnsed In full in the Statem&rt of Finartsal A￿"¥￿"e$ kn the year for vthich (t Is re¢eWab￿ arKI any *)atement in resFeCt of Il* perioj is ded￿￿ frryn in￿[r¢ and ￿¢0￿1$ed as a liability- Caytsl grnnts are recognised in full tfvthen lhe￿ is an uncfjrhlthnal entiv￿ent to the 9rant Un5penl am￿Trts of taprtal grants are refiected in Ihe bala￿e sheel ift the restrTded fixed asset fvnd. Capital grants are re¢t¥nised vthen Ilwe is en￿￿t are rp)t ¢letwred overthe lrfe of lthe asset on vthtth they are expeTrJed. DonatiorpJ Donatsons a￿ re¢4)gri￿ LX) a rnc•vatrle basis17*t*￿ Ihere a￿ no perfomanc&related ts)ndrfions) Page 24 Thg Hive College IA Company Limited by Guarants¢> Notes to the fman¢ial Btatements for th"0 year ended 31 August 2023 Icontinued) 1. Accounting policies (contin￿d) 1.3 Income {continued) Other income Other in￿rne. induding the hffe of tsolths. B re(wnk8ed ￿ the perK)d it ig receivable and to the extent the twst has prov*led Ihe sYKJds or wvices. Donated good$. fa¢llhl•s and sev41￿$ Goods donated resale are included at fair Va￿e. the ¢xpethl F￿edS from sale le55 the expected cfjsts of sate. Fl f( is Va¢b¢al to ass•ss the fair value at receip( rt Is reeognised in'stocks. and 'Income from Other Tradi￿ A¢bMtses'. Vprm sale, Ihe value of Ihe stc(* 15 tharged èaainst 'lnoJmtr from Other Tradw Actswti"es' aThJ the prc￿e¢S are ￿C09n1$e￿1 as 'lnc4)me from Other Trading A¢b￿lies.. Where it is impra41￿1 to faw value ts items to Ihe gf value ii8ms not recA)gnised in the finan¢i* staternents unbl they are 501d. Thr5 income is r•cowise(I vthin'lncfjme from Other Tradin9 kty'v￿es,. Donated fix*¢l assets whe￿ the donated good is a fth1 asset it ts r￿a$￿ed at fair ¥￿Ue. wJ&ss it is imprac*cal to measure this reliably. in whth case the cost of the item to the donof $houkl be used. The gain 15 recognised as iThxme from donations and a corresp1)nd￿l9 arTh)unt is I￿l￿ded in the approprtate fixed asset cate9¢Xy and depreaated ¢werthe Lrnefvl ￿r￿)Mi¢ lrfe in a¢o)rdance *Tth the trust's aox•unling F¥Jlicies. 1.4 Expendi￿1* Expenditure is recognised once thpre 13 a legal or construc*ive Ob￿gabr￿ to tran5fw e¢0￿MIC benefft to a thif party. it is probabk thai a transfer of è¢onc¥nK bènèffts %bill be required in seluemert and the amount of Ihe obligation can be measured reli31Jy. Experwjiture is da5sffied by athwty. The ¢wsts of each activty are made up of thè ￿tal of direct costs and shared costs, indudiThJ supptsrt tsjsts involved in Vr￿er￿king each athty. Direca costs attn"btrtable to a sinye a(*"wty we altc*aieil direc¥y to that acbvty. Shared costs which corrtribute to more than one actiW ￿ SUPFKrt costs a￿ attributabk to a ￿r￿jIe ac*wty are apporb.oned betr￿n th￿e actiwlies on a basis cons￿1 %bith the use of rewJr¢es. Central 51aff costs we allocated on tr Exp•nditur• on rnlsing fvnds This indudes all expenth.ture Inojrred by the trust to raise fvnds for ts charitstje purposes and indudes ￿$ts ofall fvndraising actiwies events and n￿wItth tradirwj. Charitable activities These are costs incurre(l on Ihe trusf¥ educalic￿81 ovatio￿. its￿￿11ng supptrt costs and costs l Tesc4wces eypende(J are w￿u$l¥e d ￿C0¥￿a￿￿e VAT. P•Je 25 The HN• College IA Company Llmlted by Guaranteel Notes to the financial ststements lor the year end¢d 31 August 2023 Icontinu•d) 1. Accowhting polieies l¢ontinued) 1.6 Tanglble fixed a¥¥ots Assets costing £1.fy)O tr more a￿ t**lsed as assets aTrJ afe carrfed at cost. net of deweryatson and any protrisi￿ vnwment Where tanglole fixed assets have been acquired v+th the of speofi¢ grants, ether from the govemrnent or from the priv*e sector, they a￿ induded in the B￿a￿e Sh&t at cost and depwated over their expected usefijl tcommic lrte. whe￿ there are SF¢ufic conthions attathed to the fvnding requiriThJ the continued use gf the asset. Ihe related grants a￿ uedrte(I to a ￿$tri￿ed ftxed asset fund in the stsiement of Finants￿ Acti¥£tses and carrie¢J fow4rd in the b4lants Sheet Depwalion ￿ the ￿e¥an1 assets 15 charged diredy to the restricted fixed asset fund in the Ststerr*nt of Financial Acbvibes. Where tsngible fixed assets have been acquired wth unfestricted funds. depreaalion gn a¥3ets is charged to Ihe l#)￿$t￿cted fvn¢. D¥prÈaation is proylded ￿ all tsrgble fixed assèts othèr Ihan freehold land and asseis under Cfmslruthcm, at rates calculated to write off the of eath asset over its expected useful life as fd1¢y￿. Lon9 leasehotd Fumiturg and 8quw& Comwter hardware Mthveh - strai￿* li￿ o¥er SO ytrars - 20% $tr319ht lir - 33% straight lir - 20% stra•Jhl h.ne Ass￿$ in thtr c4yJrse of consbwc*'on are induded at o)si Depreraation on these assets is not th8rged until they are brought into use and redassrfied to freehohj ￿ kasehc4d land and bjildings. A ￿vieW for impairrnent of a r￿e￿ asset is canied ¢>Lrt rf tvents or i*ar)ges in orcumstances indicate thal the value of any fixed asset may not be recoverable. Shortfalls befy¥een the value of fixed assets and th*r recoverable arnounts we rec£4Jrised a$ Irnpawrn￿. lryairmtnt 105Se5 are rectgnised in the Statement of Finawal 1.6 Debtors Trade and other ijebtots ￿ reca)gnised at setllement amount after any trade disoymt offered. Pf¢payrn¢nts are ¥￿￿ed at the w￿unt p￿p1￿j net of trade discounts thje. 1.7 CAsh at and In hand Cash ai bank and in indudes cash SI￿rt4eM1 highty ffiquid invesbnents a short mabjity ot three mrmths or less frryn the date of acquis￿ or opening oflhe deposit ￿ simllar accounL Lwbliilie Liabilities are reojgnised Mthen Ihere ts an obligatw at the sk*et date as a wult of a pasi even( it 1$ prthble Ihat a transfer of econorn￿ benefft vrill be wwe(l in setUemenL and the amount of Ihe selttement can be eslimated r￿la￿y. ￿ablIrtle5 are recty3nised at Ihe amount Ihat Ihe trust anliopates il ￿11 poy lo seltte the debt or the arr*Mnt it has recwed as advarttd payments lortho gotsl$ or ser¥•*s it must provide. Page 26 The HNe College IA Company Limite(I by Guarantee) Notes to the financial slatements for the year ended 31 August 2023 (conllnued 1. Accounting policies l¢ontinuedl 1.9 Leas￿ assets Rentals uTrJer opera11￿ teases are charged on a stravJN Ilne overthe lease lern. 1.10 Financial instrumwrfs The trLSSt only holds bas￿ finar￿la1 inslDJments a5 defty￿d by FRS 1(r2. The financial assels finanual liabilities ofthe tr115t and th*r rnea5urtmerd bass *e as foYIx '. Finan￿&1 assels. trade and Olher det40ts are bast #)stnJments aThY a￿ (lebt nstrumènts rrth5ur8d al amortised cost. thpaYrn￿ts afe not finanoal inslnjments. C8sh 8tbartk ss dassrfied as a basic fin￿(#81 and is ￿￿sUred valuè. Financial liabilities- trade cre¢*tors. ac01￿ w¥1 other ¢xeditors are irtstrumènts and are measured at amorbsed cost Taxatw and sooal $&2Jrity a￿ not I￿uded in the ffinanca81 inStruw￿￿ts disdo$u￿ definitw)n. Deferre(l income is not deemed 10 be a finanual liabilrty. as the cash setoemerrt has already laken pla￿ and tF*re is an obligation to deliver seNi¢gs rather than cash OT aTh)tt￿r fmancAal instrument. 1.11 Taxation The IrLiSt Is considered Io pa55 the tests set c*Jt in Patsgrnph 1 Schedule 6 of the Finance Ata 2010 and lhe￿lOre it meets the definitson of3 clwrtaUe coryany tr UK wpwation lax purFose$. A¢cordingly. the Injst is potenbafy exemFI kn tayotion n resFeet of inccffiè Of Ca￿￿1 received vdthin eategories covered by part 11, ¢*apter 3 of the coWa￿n Tax Ad 2010 or Section 256 of the Taxation gf Char9eabJe Gains Act 1992. to lh• extent that s￿h inc(￿* ￿ gains are appkd •xdu*vely to charita￿& purposes. 1.12 Pe￿10Th b•n•ffts Retirement beneffts to emFk*yee5 of the trust are pThided by tre Teachers. Peftsi￿ Stheffle I'TPS'I and th¢ Local Govemmem Pens￿ Sd*me I'LGPSI. These are defirttl sthemes. The TPS is ￿ unfun¢Jed stheme and cwlribubon5 are calojlaied to 4)wd Ihe cost of pensions over employees. working INes Y•ith the fwst in suth a way that the pension ts)st 15 a 5ub5tanbalty le¥el per¢enlage of rrent and futLKe pen5ionabk payroN. The eontribLrtiLN)s a￿ detemined by the Government AcbJary on the basis of quadfennial ¥alvatiMs Ustng a yospecbve unit [X￿rt melhod. TPS is on unfvnded mulb".a)wloy scheme vrth no underfwrwJ assets to a$s￿n befy%Een emF4ryers. ¢on5equEnlly, the TPS is treated as a defined ntsibulitin sth¢mè for accounting puwp05•s artsj Ihè IxffitritrArt￿ reco9nised in the peric¥l to they rdate. Page 27 The Hive College (A Company Limiièd by Guarantee) Notes to the financial stalements for the year ended 31 Aug¢*l 20231continuedl 1. Accountino policies {¢ontinu¢dl 1.12 benèffts {¢ontlnued) The LGPS is a lunded ThWil￿eMF￿ sd￿ME. and Ihe assets We hdd separatety from those of Ihe trust in separale truste¢ administered lund$. pensk￿ s¢hen* assels are npasured at fair Value and liabilities are measur8d on an actuarial basis using the proieei•d unit uedit rr*thod and discounted at a Yale equivalent to the Current rate ol retum on a hryh quality ¢xrporate bo)d of equiv8kntterm ￿rrencY to the liabilities The ar*Jarial valuab.ons a￿ obtsined at least trienniaDy and are upY*d at each baknce sheet tlaie. The amounts charyed to net incorne1{e￿￿d￿ureI a￿ the ¢￿￿nt Ser¥￿e o)sis and the costs of SCh￿e inlrodudions. ben8fft changes. setllements and rgjrtailmwts. They are induded as part of staff ￿$ts as incur￿. Net interest on Ihe net deffined benefit liaWtyl3s$el is also reccgnlsed in the Statement of Financ4al Aclivitses and ¢omprises the interest rA)st on ￿ deffi￿ benefit 0￿*jatiOn and interesl ir￿rne on the stheme assets. calajlated by muttiplying the fair value of Ihe scheroe assets at the be9innin9 of Ihg period by Ihe rate used to discount tre benefft ob1￿jatiOns. The drfference bekn*en thè ￿n￿re# income on Ihe scheme assets and the aL#ual retum on Ihe.sdwme assets is recomised in other rewinwl Jain$ and losses. Aduarial and losses are recrvni￿d immed• ii recogn¥sed gains a)d ￿)SseS. 1.13 aecounting Unresth"cte(J income fvn(Is represent those resol￿ t*thith may be used ICW￿d5 meeting any of th? tharitable objeL*5 of Ihe trust attt￿ distrebon ofthe iwsiees. Restrict￿ fixed asset funL1s a￿ res￿r¢e$ whth We to be aFvf*d to speufic caFdtal purposes imF*)se¢ by funders where the asset acquired ￿ created is herd fora spwfie wrpose. Rèstrictsd general f￿d$ comwise all other resbic*J furvJs re￿Ne￿ restyic*ons imwsed by the funderldonor and include grants from the EdKation Fund1￿ or Department for E￿￿ts"c￿. 1.14 Criti¢al aceounting OStin#t•s and areas of judgEmtnt Estimates and judgemenfs ¥e Lwtinuafty wJluated and are based oft historical experience and otherlactors, WKluding eypgs#ats'ons olfirture 8¥8nts Ihat are Wteved to be reasonats￿ underlhe circumstsnces. trust makes estim*s assw￿￿ corttming the fubxe. The ￿y1th9 ac￿unts.n9 estimates and assum￿lOn$ will. by deffinrf>Jn. sel¢&)rn #qual the fekted a¢tsal yes￿$. Thè e*imates and a¥wmptk)n$ that have a signifKant risk of cauyng a material affjustment to the crn amounts of assets and Wimies witrin the npJiffnana•l year *• di$￿Sed below. Th? pr¢sent Y￿l* of Ihe LcKal GoYemm•it Pens•x Scheme defined benefft Ikqtr*hty depends on a nurTthr of factor5 that aru determined on an aclLwial basis using a Vwiety ol assumptions. The assumpt￿1$ used in detern￿ning the net cost [Income} for p￿SlOn$ indudfr discount rate. kny chan9es in these a5surytions. are di5dosed in not¢ 24. impart the ¢aryNw arrwnt of the Fen$ion liabtlty. Furthemiore a roll fornard approach *thtch woiects resuN5 from the latestfijl acbjarial valuab.on performed at 31 Mzr¢h 2022 has been used by Ihe aduary in valLxn9 lhe pensions liat*hty at 31 A￿jUSt 2023. Ary d￿￿ne*S befv￿n Ihe figures derived fr(%n the roll fornvarf apwoaeh aThJ a fvll achtsrial valuatbon wovld impact on the catrw.ng amourt¢f the p8nsbJn liabihty. Pa9e 28 The Hive College IA Company Limited by Guarantee) Notes to the finan¢i•l statements for the year ended 31 August 20231continued) 1. Accounting polict•s {continued) 1.15 Agoncy arran9emenls The trusl a5 an ag￿t in distn"butin9 16-19 burwy runts from ESFA po￿nts receivoJ from ESFA and subsequent distr¥Jrsements to $tudet)ts are exdu*Yed frorn statement of financial *'vibes as the irusl doe not have contrc4 over the cha¥Ttable applKation of the funds. The fu￿ fecwveil and paid and any balances held are disclosed in rrf)te 24. Page 29 The Hive Collèg• IA Company Limitsd by Guarant•el N¢X•s to the financlal ststements forthe y￿r ended 31 August 2023 Iconllnuedl 2. Donations and capital grants Unr¢#tri¢i•d fvnds general fund flxod asset 2022123 funds Totsl 2021122 Total Captsl grar)ts Other donatr.ons 89.652 89,652 150 89.802 63,582 4.570 68.152 150 89.652 2022 totsl 4.570 63.582 68.152 3. Funrfifyg forthe Irysvs educational opernti•ns UnrestriciÈd gentAI fixed asset 202Y23 funds fur f￿d5 Total 2021122 T4Aal DieiESFA grants Genernl Annual Grant (GAG) Other DfEIESFA grants T￿CherS pension gwa 1261,23S 1261.235 1.171.954 28,87Q 18.662 l.X6.767 26,870 18,662 1.X6,767 18,743 10.551 1.201,248 Other goyeriimentgran Lctal authority grants 1.513.693 1.513.693 1.513.693 1.513.693 1.614.747 1.614,747 Other income frtyn the trusf$ edueational operdtions ¢ovid-19 addition•1 fvndlrw {DIEIESFAI Other OEESFA CO￿￿19 29.126 29.126 2S.677 1670 780 29.126 1 513,693 1 542819 29.126 2.820.460 2.849.$86 2.872.028 2022 t¢)tal 19,977 2.393.146 2.413.123 4. Invtslment income 2021122 fimds Totsl Tolal Short tenn dep)srts 210 210 157 2022 totsl 1S7 157 The Hivè College IA Company Limited by Guarantee) Notes to the financial statements for the year end￿ 31 Augus¢ 2023 l¢ontinu¢dl S. Exp8ndiiur• on pay expendithre 202W23 Total 2021122 Tolal Trusf5 edu¢ational Operat1￿ Direct ¢osts Afiocated support C￿15 1.209,308 661.264 1,870.S72 16.934 267.397 284.331 205,C64 1.431.X 335.380 1.264.041 540.444 2.695.347 1.282.169 2,532.516 2022 totsl 1.873.303 199,896 459.317 2,532.516 Net inC￿ne11*xpe￿ditur2I for ts perknd i￿l￿des.. 202Y23 2021122 Operating leases Depreciation Fee$ payable to auditor - ptant aThJ machinery 592 112.887 4.7 4,450 6. Charltable a¢￿VItIeS Restrlcted Unrnstri¢ted pen5i¢)n lund Other iestricted tunds 2021122 Tolal Totsl Educational oper*tlons Direct costs Education￿ operats"cffj$ Supwt ￿$ts Educational operkn"¢)ns 6.823 1.424,483 1.431. 1282.169 21,366 28.189 1,190.675 2.615.158 1.264,041 2.695.347 1,250.347 2.532.516 52.0tr) 2022 total 28.922 297,C(O 2,X6.S94 2.532.516 Edu¢•lTorul 202Z123 operations Totsl 2021122 Totsl Analysis of support Costs Support staff ¢o$ts Depreeiation Technology r￿St$ Premises costs Professional costs Other 5UPPOrt costs Govemanee costs 661.264 661.264 95.953 8.625 196,444 117.777 179.278 4.7C 792.505 7e.105 10.290 109.963 1D1.¥B 1￿,476 4,450 8.625 I￿.444 117,777 179.278 4.700 Totsl support costs 1.264.041 1.264.041 2022 total 1.250,347 1.250,347 Page 31 The Hive College {A Company Llmlted by Gu•rnnt••l Notes to the financial ststements fot the year ended 31 August 2023 {continu¢d) 7. Stsff al Stsff costs staff cfjsts dwir¥J Ihe penod were.. 202W23 2021122 Wa9e$ arKI satariès secuiity costs PensiM costs 1.352,434 97.161 344.859 1.196,535 92.458 534.547 1.794.454 1,823.540 A9ency costs Staff r•slN¢turing costs 72.618 3.5 49.763 1 870 $72 1.873.303 Staff restruciuiin9 ￿$ts ￿rr￿lse.. Severanc8 payments 3.500 bl Sev•rnnc* payments The tNsl paid one 8everdnc* payment li year, th"sL*)sed in the follo%*in9 baThJs.' 2022123 Numbvr 2021122 Number £0. £25,C(O I Spo¢ial stsff s•v•rn￿* paym•t InC￿ded in stsft re51r￿n9 ca)Sts is a speoa sewer4￿e payment of£3.SCQ (2022.. £nifJ." d) Slaff numbws The avera9e number of pernons erylvied by the tr￿1 the yearwas as folh)ws: 202W23 1￿mber 2021122 TeadRrs AdM￿l$trati1)n and supwl Manag•ment 10 10 69 81 P•Jg 32 The Hive College (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 August 2023 Icontinued) 7. Staff Icontinuedl el Hi917er paid slaff 2022123 Nurn￿r 2021122 Nurn￿r The wmber ol employees ￿058 employee benefits lexdudirg employer p￿IC ¢oslsl exceeded t60,OCKJ was: E60,001 - £70,000 £70.001- £80.(HX> Q K•y management personnel The key management per￿ne1 ol the trust comprise Ihe tr￿teeS ar*Y the senior management team as listed on page l. The total amount of ern￿oYee benefits linduding ernrAoyer pension conti1bu￿jnS and empkjyer natK)nal insuranc8 Contr1t>u¢￿sI received by key managemènt personnel kn iheir semces to the trust was £237.913 12022.. £170.9091. Related Party Transactions- Trusttes. remunelation and expenses No trustees have bèen paKI remuntration rx have r￿1ved other beneffts from an empbymenl wth the trust. During the year ended 31 August 2023, no travel subsistMcè expenses were reimbursed or paid direcuy to any tru51ees. Other related parry trans3th￿S inv¢Svir@ trustèes are sel out ￿ Thjté 23. 9. Trust¢es' and officers, insuranee In accordance wrth normal commereial practir£ the tnjst has purchaseij insurance to protect Irust8es and officers froTh claims arisin9 from nOi9ent acts. eTfiys LY omis510ns octsJrriti9 *thi15t on trust bu*ness. The insurance provides cover up to £5.000,OIXJ on any one dairn. The cost of this insurance is indLt(led in the total iTrsuran cost. P￿e 33 The Hive Collège {A Company Llmited by Guarantee) Notes to the financial $tstements for the year ended 31 August 2023 (continued) 10. Tangible fixtd assets Assets under construction Leasehold land and buildings Fittings and Computer equipment hardware Motor vehicles Totsl Cost or valuation Al 1 Septernber 2022 Additions Transfers in year Al 31 August 2023 653,008 789,140 1.442.148} 308.010 28.370 1.442.148 1.778.528 166.636 34.197 78.552 14.217 184,072 1.39).278 88S,924 200,833 92.769 184.072 2,256.202 Depreciation At I September 2022 Charge lor the year At 31 August 2023 21.HS 34.567 56.012 119.080 28.799 147.879 122,738 29.697 152,435 321,809 172.887 434,698 19.824 78.370 Net book v•lue$ At 31 August 2023 1.722.516 52.954 14,399 31.637 1.821.506 At 31 August 2022 653.C¥)8 286.565 47.556 20.or 61.334 1.068.469 Cost Of valuation at 31 August 2023 is represented by= Assets undèr constru¢ti4)n Leasehold land and buildings Fittings and Computer equipment hardware Motor vehicles Total Cost 1,778.528 200.833 92.769 184.072 2.256,202 1.778.528 2fXI.833 92.769 184,072 2.256.202 Page 34 The Hlve College IA Company Llmtted by Guarantee) Notes to the flnanelal statem•nts for the year ended 31 August 2023 (cofttinued 11. Oebtots 2023 2022 Oebtors from operatsorts VAT recgjverab Prepayments and ￿¢rU￿j w)con Other debtors 76.549 2A.X6 149.483 29.629 62.611 255.013 251.424 347.253 12. Credilovs 2023 2022 Amounts falling due withift one year: C￿ditl¥s from operat 529,073 225.617 1,679.133 2,433,823 789297 97.358 190,174 1.076.829 Other C￿tht0 Delerred in¢om* Deferred inccffie at I Seplember 2022 Reswrces d¢ferred in the year Amoun1$ released fr(m previ￿$ years Deferred incthe at 31 August 2 36.516 42.263 26,$16 42263 47,203 42,263 47.203 Al the balar￿ shee¢ dalè the trust VAS ho￿￿ng fvnos iecav•d in thance for sd*)￿ CoTh#llson Ancwartt. Devolved Formula CaFrf￿ 9ranl and Tuibon Ftmth"rvJ. The Hlve College {A Company Limlted by Gu*rante¢) Nots$ to the financlal $tatoments for the yearend•d 31 August 2023 (Continued) 13. Funds Balance at 1 Septsmber 2022 Gain5, losses and Expenditure tsansts Balan¢t at 31 August ' 2023 Restrictsd gèn•rnl funds General Annual Grant IGAGI Other grants 1.312.274 1261235 1.55922S 2.820.4fLI {943,0461 1.$59.225 2,W2.271 I808.1￿) 22.283 1.312.274 822.283 Re5tri¢ted fixed •sset fvnd8 DIE Growl ca￿141 grant5 Ca￿tal •xpendrture fr¢)m GAG 1r2.310 914,251 1.086.561 89.652 {12,880) 249.082 l(K).00 808.180 1,622.424 89.652 808.180 1.871. 112.88 168.[￿]) S2.(KK) 230,C¥)O 10.0(KJ Total restric￿ funds 22Y).835 2.910,112 2,667.158 230.orxj 2.703.789 Unrestricted funds Other I￿rne Total U￿reStricTed funts 8.189 (28,189 13.980 13,980 12.e83 29,486 Totsl funds 2.243.518 2.939.598 .695.34 230.000 2.717.769 The spe{ar￿ pwr￿e$ forwli¢h ts fvnd5 are to be arè as fokns.. Re5tri¢ted general fund5 These comwise all festriQed fwds Ihw restric￿ fixed as5•t and W￿[￿1• gra)ts from ￿ Education and Skdls Funding Agency. The trusi is Th)t Sttiie¢Xto GAG ¢2Nied f(wrd fmrts. Yhese comprise ￿$oUrCeS that bg used tcw¥d5 [￿tting ffj of Ihe th￿lIab￿ objeds of thg Irusl al discretion of the tru5tee5. Restri¢ied fixed asset fw These comprise re$￿jr£es wthi(* ￿ lo be lo Sp￿lfi¢ wtal PU￿Se$ imposed by Tr Educaknon and Sknlls Funding A9enGy th• asset ueabJ heky kna speuficpLWPOSe. P*38 36 Thè H¢ve College IA Company Limited by Guarantee) Notes to the financial statements for the year ended 31 August 2023 I¢oDliny•d) 13. Funds (continued} comparati￿ Infomiatson in of the precedfng peiiod Is a$ lollows: B•l*n¢¢ at 1 September 2021 Gains. Balance at l•￿e$ and 31 Awjust I￿orne ExpendI￿rn lTrnsftrs 2022 Restr4¢t•d g•n•ral funds Gene￿1 Annual Grant IGAGI Other DIEIESFA Covid-19 hjndwig Other 9rants 1.170.r48 1.171.954 25.677 1.644.041 1447,535) 125.67n 11.644,041} 1582.8731 1.312,274 1.170.728 2.117.253 582,873 1 312 274 Restri¢trd fixed asset bjnds DIE Group capital granls Cawtal expenditu￿ from GAG 122.354 407.(83 63.S92 (13,6261 175.715} 172,310 914.251 582.873 529.447 &3.582 89,341 582.873 1086,561 Pension reserve e*3.CQ) 297,C•XI 792.(K(I Total r¢$trl¢t•d funds 1.037.17S .￿3,5 2.￿5254 ￿ 792.OLKJ 2.230835 Un￿trICtsd funds Olher income Total unr•stri¢t*d funds 12.683 12.683 6.522 35.083 28.922 Total funds .532.518 1.043.697 2 940 337 792.OLXI 2.243.518 14. Analy515 of netassets beiween fvTrts Fund balances at 31 A￿U51 2023 arè rÈpresented by". R¢stri¢l¢d Restricted Rp5tri¢ted genernl fixed asset Total funds Tangiblg fixed assets cu￿ent assets Cuffent liabilibes 1,821.5C6 1.821.5C6 so.CO) 3.320.086 433.823 2.707,769 13.980 3256,1C ,433,82 822.283 13.980 1.871.5( Créditors due after one ye Pension stheme liabilty Totsi net assets 10.(KX) 10.(￿￿ 10.OL 2.717.769 13.980 822.283 Page 37 The Hive Coli¢ (A Company Limited by Guarantee) Notes to the financlal Statements for the ￿ar ¢nd•d 31 August 2023 (¢onlinued 14. Analysis of Tretassets belween funds {contln¥edl CoMpa￿￿¥t In1￿MalAin resp*ct of the preceding peritrj is thire¥tri¢ted penslon as foknjs: fvnds general funds fixed asset fvnd$ Total fund$ Tangble futd assets Cyrr•nl assels Current liobiwties 1,W.469 18.092 1.068,469 2.419.878 1.076.829 2,411,518 12.683 2.389,103 1.076.829 1,312,274 12,683 1.086.561 Creditors dut after one year Pension scheme liabilty Totsl n•taS$Ots 168.(KQ 168,(￿) 168,000 2,243.518 12,683 1,312.274 1.086.561 15. Caixkl commltsnents 2023 2022 Contracted lor T￿t pwded in Ihe fMw*ial slat•ments 12.805 812.976 16. Commitin•nts und•r operatin9 leases At 31 August 2023 the total of ￿ trusl's fLIMre rninirwm leose payments under ￿[￿ant￿Tab operaty.ng leases was. Totsl 2023 Totsl 2022 Amryjnts dYevthh￿ 17. Re¢on¢i1iation ol nrtin¢omellexpendlluYel to i￿t ￿$h flow from operating activilies 2022123 Total 2021122 Totsl Net MLxyn&l{expen(liiur¢l for r•pJir¥J per￿ {as perthe SOFA) Adjusl¢d for.. Depreciation Inc* 111 Capital grants from DIE and othereai*al ir*•)m• knterÈst rectivabte (note 51 Defffled benefrt penyon schen* t4st less ts)niribuDons payable (n(rte 241 08fined benefft penson scheme ffinanc¢ f)￿(1n0)Me) (note 241 Deuease l {inueas&) in debtors In¢rease l {detrpasel mi tredit(ffs 244.251 407.821 112.887 {89,652} {2101 89.340 163.S82) {157} 284,000 13,000 1178.1641 757.068 95,829 1.3S6.994 N•1 ¢ash pro¥id•d by I lus•d in) opBwating athiti05 1,772.0 1,309.326 Page 38 The Hive Collage (A Company Limlt•d by Guarante•) Notes to the financial ststomonts for the year ended 31 August 2023 (continued 18. cash Ilows from In¥•stlng athit*s 202W23 Totsl 2U21122 Totsl Interest receive Purchase ol tsngde fjxed assets Capitsl grants fmrn DIE Group Not cash provloed by l {used inl Investiny activities 210 6S,9241 89.652 6,062 157 1628.3621 63.582 564,623 19. Ana￿￿ ot ¢a$h •nd cash equivalents At 31 August 2022 31 A￿9￿$t 2023 Cash at bank and in hand 3.C68,662 3,068.862 2,072.fj25 2 072,625 20. Analysh of ehanges in net debt At 31 A￿￿t 2022 At 31 August 2023 ¢•5 nonJnlnlyJlory, deffined benefft scheme. govemed by the Teath8fs' Pensiw Scheme RegUla￿On$ 2014. m￿berShIp is aulcfflatic for teachers in a(a¢emies. Ni teachers have Ihe opb'on to ¢)pt-OUt ol the TPS enrolment. The TPS is an unfunded schem• io tKth the rnember empfoyer makes contrthtions, 85 8 percentage of salary. thesè ¢£Jftth"tpJl￿ns are LYedile(I to tho Exdww. Retirefflent and ollter pertsK)ii are paid by public funds pro¥ided by Partiament. Valualion of the Teachers. Pension S¢heme The Go¥emmenl Aduary, uwg rK¥mal actuarial winriF4es. mJw*s a fcrfrnal actuarial rèview of the TPS ' awoTdance wth the Pubtic Seryt¢e Pensh?ns IVatsl•)ns ar¥Y Emptyr Cosl Capl DI￿tths 2014 wblished by HM Treasury èvery four years. The aim of Ihe fewi*v ￿ to SF*afy.the level of ftAuwe conlfi"bulions. A¢h￿rial stheme valuations are depeThJent on assumptims ab￿rt the value ol futurè eosts, design ol beneffts and mary other fadors. The ￿test actuarial valuation of ￿ TPS %YdS camed as at 31 March 2016. The Valuati￿ rewrt was publtshed by the Departmenl for Education on 5 Match 2019. The key etements of the Valua￿on and subsequent ¢•n￿lIa110n are.. employer LY)ntrtith lates set at 23.evA rf perffjiG￿ab]e pay [1TrJLKtiThJ a 0.08% wnployor adminislration thargel total st4￿Me ha￿litIeS Iptn5•*s C￿rrenIty wi payn￿￿ ar#J ￿ eslwnaw o)st of futu￿ benefits) for Se￿ice lo the effective date of £216.1￿ rnI￿n. and Th)tion* a￿t$ 1¢stimated future contribul￿n$ tQ98ther wlth th• nokn.onal investments hekl ai the ￿lU*"On datel of £196.100 rniifion giwn9 a notional past service defi of ÈaOOO milli lh• SCAPE r*, by HMT. bs used to ¢Jetemiine the ￿1¢[￿al Iweslment return. The c￿￿nI SCAPE rate 15 2.4% ab)ve Ihe r*e of CPI. assumed wl Trte of relum is 2.4% in excess of priees 2% in excess of eamings. ￿ rate ol feal eampy grNh is asswned to be 2.2%. The a5$￿e¢ nominal rale ol retrjm *￿Ud￿l9 e￿1￿$ gTovAh is 4.45%. Thè nèxt valLOtron is due to be imp*nwrted fr¢•m 1 Wil 2024. The ￿￿0yerS p8nsh)n costs padto TPS in tha yeaam(wJnt8d 10 £97.486 (2022 '. £87.4671. Under Ihe definitions sel out in FRS 102. thè TPS is #n un(ur¥Jed rwtti-empk)yer pensw)n stheme. The trust has acC￿ntsd lor its conlribulions 10 tha SL*eme as rf it a d•fined contribub.on SL*eme. The Irust has set out abtsw the inf(¥makn availth on the sc*wne. Thè LGPS k% a funded dèfwRd beneft pen5w %*wne. with the assets hetrj n separate tn￿te8-a￿MlThlstered fu￿$. The lotal wkntjubon madè the yw erthd 31 A￿just 2023 vrds £221.Cm {2022 .. £148.CWI, of whith empbyerfs (yjhtribu￿Trs totrNed £178,[￿) (2022 .. £113.LKQ) and empkny2¢5' ¢>)ntribUbo￿ lotalled £43,0￿ 121722 .' £35,(KXII. Thè 4Teed contribu1￿ fubJr• years 222% for eNyloyw5 and befy¥een 5.5% and 6.5% for ernpfoyees. Pw40 Th• Hive College (A Company Limited by Guarantael Notes to the financ(al s¢atem•nts for the year ended 31 August 2023 l¢ontlnu•d) 21 Pension and similar obfjgations {continued Loral Governm?nt Pension Scheme Iconthx Parfiament has agreed. at ihe request of Ihe Seurfary of Siato for Ed￿41th. ￿ a guarwtee that. kn the event of academy ch)sure, outslaThJin9 Lctal Govemment Pensm Sc*eme Itabilits5 wvuld be met by the Departm8nl lor Eéuc2tion. The guarantee came into force on 18 July 2013 ar¥J ￿ 21 Juty 2022. the Departmeftt for Education reaffimied its commrbxent io the guarantee. V•YU) a pa￿￿[Tren13ry wbtsshed on GOV.UK. The trnst￿ have agreed that the trust*ffi make adthiK)nal conth"buiKYs in addit•)n fun¢ling levds over the next 30 years. Principal actharial assumptions At31 At31 August 2023 August 2022 95% 4.05% 2.95% 3.05% 5.20% 425% 2.95% 3.050 9).CQ% 50.00% R•te of iTryease in salarles Raie of inereas¢ lor pens￿n5 in paymert I Discount rale for scheme liats￿￿.es Intlaiion assumption ICPII Commutstion of pensths to Iurnp s￿5 S*n5iti¥ity ahalysi$ 11 At31 At31 August2033 August2022 roo0$ roo0$ 127) 1241 2T 24 35 Disrxjunt Tale +0.1% Disrxxjnt rale -0.1% Mortalty assumption 1 yearincreasè Mortality assump￿￿ 1 yeaT deueast CPI rate +0 1% CPI rate -0.1% 134) 24 (24) 27 pn The current mortalty assump￿1$ indude suffi0￿1 alkn¥a￿% for impvovrnts tsi mortality fates. The assumed life expertations on retirelr￿tage 65 are." At31 At31 August 2023 August 2022 Reliring today kqales F￿al8$ 21.2 23.5 Retiring in 20 yews Males Females 24.7 25.4 Pa9e41 The Hive College IA Company Limited by Guarantee) Notes to lh• financial 8tatsm￿ts for the year ended 31 August 2023 l¢onllnued) 22. P•nsion and slmilar obli9alioM {¢onlinuedl Local Govemm•nt Ptnslon S¢hem* {con1inwl) trusfs share of11￿ assèts scthmeT*AS: 31 August 2023 31 August 2022 Equities BO￿*S Prop*ty Cash and othtsr jiqi￿a assets folal markrtvalue of •￿ts S98.(￿) 188.000 71.( 453.0 142.OLk) 54.000 27.000 678.OLKI 893.(YY) Th8 actual Wa￿Ve ￿ on s(*em? ass•ts was 12% (2022.. 3.3% ne9ati¥e}. 2021122 Amount re¢ognisod IR the *1aten*nt offman¢ial athilies Curreftt sèrvicE gjst Interest inojme lftterest cost 397.000 111,OC(11 24.0(K) (33.iYYJI 41.0 T¢>taT amount r•cognIs￿ ITr th• SOFA 230,0 410.f Ch*nps in the prn5eTrt Trtlue •f defined benefftobliptsor re o follows: 2022123 2021122 At 1 SWwnbw2022 Current SWViCe C4)st Interest COSt Employee c4nthbut*fis Aduarial ￿￿11(105$e$). ffinanc4al assunwti￿S Actuarial gainslllosses)- demc¥r3phic 9s>JmF￿￿s Actuarial gan8J{losses)- eypwierK* ga At31 Au9U$t 2023 844.cw 1.211,c 222.0 397.OCKI 41,OC¥) 24.0(X) 43.oc 35,CO) 1341,Cthl I822.￿0> (36.CO)I Is.oLM)I 110.( 4.oc 883.Cty)J Poge 42 The Hive Colle9e IA Company Limited by Guarantee) Notes to thè flnancial statemènts forthe year ended 31 August 2023 Icontinued) 22. Pension and slmllar obligations IconlinL*d) Local G0￿Mment Penslon Sch¢nw (¢oThtlnued) Changès in the f¥lr ¥ah* oftN$es sh•r¢ 0f￿hTh a$￿ts wer• as follows . 202Y23 2021122 At 1 September 2022 Inte￿$t inojme Relurn on assels less Inte￿$1 Employer contributions Employee o)ntribLthns Advarial galnslOoss8sl- eyrieTKe 9ainsh)s*s 676,(M]O 33.000 {42,(ml 178.000 43.t 548.000 11.000 131.1)001 113,CM)) 35,0( At 31 August 2023 893.CKIO 676,OC N•t pertslon seheme ass•Vlliabilityl 168,OC 23. R•lated party transactions I￿ng to the nature of Ihe trLLSt Ihe o)mpogbw of the board ol trustees dra￿￿ from i￿1 and private $ectr* ￿gaNISati1)ns. transa￿￿ may take ptac¥ Imth or9anisal#)ns in vkntc* the tnrslees have an interest. ExDenditure and Educatlon Impa¢t Academy Trust Charitable Company in S Hu9hes (iesK4n¢d 7 July 20231 and J Haryis {X￿Until¥j offic*r) are trustees 2023 2022 Services recharged to ¥t￿ted Company dwing the wi Purchases from related company dLuing the peiiod Amount du¢ lo reLgteO company al period er#J 6,OCKI 318.041 1.e66.632 24.487 376.116 1￿.174 trust made Ihe purthase at am¢s. All transactic￿8 inthng orgaNsalicffls awe cw•JJctEd in a￿OrdanCe wilh th? rtquirgments of the Academies Tru￿ Handbook. 24. Ayney arranywnents The tnjst distribLrtes 1&19 1)ursary fijnds ￿ sludents a5 an agent for ESFA. In th& a￿U￿tIng period endirKJ 31 ALtrJUSt 2023 the trust received £16.515 (2022.. £12,874) arwj th"Si￿r$ed £f3.740 {2022: È11.$87) from the fund. An arn￿TrI of £11.787 12022 . £9.0121 is M'other rA¢ditors relaling to uftdi5tr*Juted funds that ¢s payable tts ESFA. Page 43 Th• Hlvè College IA Company Limit￿ by Guarantee) Notes to th8 financial Statements for the ye•r ended 31 August 2023 IMntinued) 2$. Cwtlngent babiliti Folov+irvJ the T￿ent deusion in the HawrTwst vs Bfazd txe ￿ tntst is cfjrtsKY￿n9 the potential liabikly In rwecl ofthls. At ts time rt is not pJwtrAèkn quanbty *)y IAtxlty. rf any. aTrJ IK> wvision has made in tt*se aLX¢)unts. Page 44 # **Services 4 Schools Ltd** Summary Annual Internal Control Report for Education Impact Academy Trust For the year ended 31[st] August 2023 ## **Contents** 1) Introduction 2) Summary of Findings 3 **----- Start of picture text -----**
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**Services 4 Schools Ltd** (Company Registration Number 8628145) Registered Office: Waterloo House, 4 Waterloo Road, Wolverhampton, WV1 4BL 2 ## **1. Introduction** ~~_~~ ## **1. Introduction** For the year ended 31st August 2023, S4S carried out one internal control review for Education Impact Academy Trust, during June 2023. The review was commissioned by the Trust Board of the academy to provide external scrutiny of compliance with data protection legislation and ICO good practice guidelines. - A desktop evaluation of policy and discussions with key staff have been used to gain a benchmark of the Trust’s compliance profile. Further review was undertaken during onsite visits which focused on working practices. - The onsite review took the form of site walks, where individuals and groups of staff were questioned about their roles in relation the management of personal data. - All staff who took part in this process were accommodating (visits took place during the school day), open about their awareness and understanding of data protection responsibilities and honest about their working practices. - Across the Trust there has been recent changes in staffing and the roles undertaken by employees. In some schools, there is also a currently a re-allocation of how the learning and office spaces are used. Recommendations included take account of recent and planned changes in processing at school. Extracts from the individual report are detailed on the following pages. 3 ## **2. Summary of Recommendations** oe A suggested priority of action/response has been indicated as follows: Ls LOW (green) - Does not present an immediate risk or require urgent attention, but should be considered as part of ongoing compliance ## management MED (yellow) - Non-urgent issues, presents a risk of breach, or compromises ability to meet compliance if not addressed Ld HIGH (red) - Current non-compliance, urgent issues and likely cause of breach if not resolved [0.0] – references the relevant paragraph(s) in the main report 1. The Executive Team to continue to support the DPO with the performance of Articles 38 and 39, by providing ready access to information, systems and independent decision making in order to support Trust compliance activities (LOW) [2.8] 7 2. The DPO to produce a shortened annual Data Protection Compliance plan linked to significant developments and strategic objectives. This would assist the termly monitoring of compliance progress, prompt the undertaking of regular tasks, support governance reporting and provide evidence if required to the ICO on awareness of risk. (LOW) [2.13, 2.14] 7 4 3. The Data Protection Officer Report produced for Trust Board to outline the current risk status for each school in relation to data protection compliance. The report should include a summary of ongoing or planned activities RAG rated to demonstrate progress and issues which require decisions. (MED) [2.19] 4. The DPO to support the Trust Board with training on monitoring and applying scrutiny to data protection compliance. This should include encouraging Board or members of a relevant committee to proactively commission advice from the DPO in advance of decision making where appropriate. (MED) [2.20, 2.21] 5. The DPO to conduct termly site walks aimed at monitoring compliance, assessing risk and informing communications to staff/the Board. MED [2.20] 6. The DPO to complete Data Protection Impact Assessments (DPIAs) where necessary, prior to Trust decisions being finalised. DPIAs should support decision making and where strategic plans trigger changes to the systems or operational practice. For example, should a new academy join the Trust, it would be expected that a DPIA should assist in identifying any serious risks, or disparities in compliance, prior to date the Trust takes formal responsibility for another establishment. These assessments should not be a prohibitive stage in change management, but should instead, strengthen the ability to manage change effectively and minimising the potential of organisational non-compliance, or unnecessary exposure to the risk of breach. (MED) [2.23] 5 7. The DPO to issue at reminder to all staff about the importance of data security, advising specifically on: - Locking rooms containing sensitive records when left unattended - Logging off or locking sessions on laptops and desktops when leaving classrooms and offices (MED) [3.2-3.5] 8. The DPO to visit schools following the completion of office moves and staff relocation to assess the appropriate transfer of records and security of record storage (LOW) [3.7] SS 9. The Trust to recommend a structure for the structure of HR/Personnel records to be adopted by all schools. This will support the management of the accuracy, completeness and currency of records. LOW [3.10] _ - - 10. The DPO to work with the IT Team and representatives from schools to consider a consistent approach to using school home communications technologies. This should take place after, or as part of the implementation of the new MIS. This should take into account: - Maintaining and updating the accuracy of pupil/parent data - Helping to manage consent processes - Improving the transparency of information to help reduce requests - Reducing the risk of breaches as a result of inappropriate data sharing SS (LOW) [3.13] 6 11. The DPO to review the data protection policy, CCTV policy and information collected for the CCTV DPIA to ensure consistency in approach. (MED) [3.20, 5.4] 12. The DPO to produce a simple procedural guide for the management of information captured by CCTV systems. This should include clear guidance for staff on the review, export and sharing of footage to support incident management and information rights requests. (MED) [3.22] 13. The DPO to produce a summary “dos and don’ts” document outlining expected standards of handling personal data and reporting breach incidents for use with temporary staff and as part of induction processes (MED) [3.26, 5.10, 5.11] 14. Office Managers to produce updated lists of pupils with allergies and dietary needs including pupil photos for use by catering staff (ideally displayed in view of serving staff). (MED) [4.12] 15. All staff to be issued with a reminder of how to access the internal Staff Hub SharePoint site (LOW) [5.9] SS 16. The DPO to support the IT Operations Manager to conduct an internal review of cyber-security against NCSC standards and guidance for organisations. The DPO to review and add comment/recommend action where appropriate. (MED) [6.2] 7 17. The DPO to actively support the implementation of the new MIS by issuing advice on risk during the pre and post migration stages of the project (MED) [6.5 – 6.7] 18. Domain security policies to prevent the use of portable removable storage should be reviewed. Preferably with the use of such devices being disabled to minimise the cyber security threat presented. (MED) (6.12) 19. Standard and consistent records management practice to be adopted across all schools in the Trust. This should include: - Administration staff being made directly accountable for records management processes - Adoption of indexing and labelling system for archived manual records - Maintenance of disposals log - Archived records to be reviewed against retention schedules - (MED) [3.27, 3.28, 3.29] 20. DPO to provide process-based training to key roles responsible for handling high volumes of personal data. This should include more detailed information on the handling of personal data including data quality improvement, data sharing, data security and supporting the collation of records information requests management (LOW) [7.2, 10.7] 8 21. The DPO to establish a review process to check where online service providers meet the new standards of compliance set out in the ICO’s Children’s Code. (LOW) [8.8] 22. The DPO and School Leaders to issue a reminder to all staff on the Trust process for breach reporting (MED) [9.4] 23. The DPO and School Leaders to issue a reminder to all staff on the Trust process for reporting information requests (MED) [10.6] 9