Ch*rlty r•gl•tr￿on numbor 525931 Cofflp*ny r•gl•trallon numb•r OOT13067 (Engl•nd and W￿•5) (Enqland and Wal••l HULME HALL EDUCATIONAL TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 HULME HALL EDUCATIONAL TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION MrLHCarr Mr. J Asha¢￿a10n Mr E W Nichc418 MrTRLow• 8•¢r•t•ry Mr S Malkln Ch•rlty numb•r 525931 Company numb•r 00773867 (England and Wales) R•glsl•r•d offl Hulm8 Hall Grammar Schod B•8¢hAv•nu• unit￿ Klngdijm SK3 8PIA Audttor Azets Audlt Sep41c*s pha Hous8 4 Gmk Street Stockp Unltsd Klngdom SK3 8AB Bmk•Y¥ Nthn41 W•¥lmlnst•r Bank pk Chev*Jl8 Hul PO 8ox 2027 Howdch BL6 4YU Sollcknrs Squlr• Patton Boggs {UKI LLP No 1 Swnningfialds 1 Hardman Slf88t Manch88ter M3 3EB HULME HALL EDUCATIONAL TRUST LIMITED CONTENTS Pige Trust￿8. repc*t Statsmont of trustso$' responslbllities 12 Indeper￿OnI audhorfs rewl 13-15 Statement of finanoal aclrites 18 8•18nce sheet 17 Nots8 10 the Ilnandal stat•m•nts 18-27 HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees pre$trnt thoir annual r¥port and finan¢ial ststemonts for th¢ year ondod 31 August 2024. The financial statèrnents have been prepared in accordance with the accounbng polldes Set out In note 1 to tho financial statèmènts and comply wth thè charitys goveming docurnent. the Companiès Aet 2006 and 'Accounting and Rery)rDng by Charitiès.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with thg FJnan¢ial Rgportlng Standard appllcablè in th8 UK and Ropublic of Ireland IFRS 1021 leffectlvg 1 January 20191.. REFERENCE ANDADMINISTRATION INFORMATION The Hulme H811 Educational Tnjst Llmlted is a reglstered charfty INO. 5259311 and a company INo.007738671 limited by mernbership guarant88s. Its wistèred offica is shovm on the infomation sheet. The tnJste8s who served during the yoar together with thg dotsil$ of gx19mal advisor8 are noted on thg compBny infomiation sheet. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Documont Th• charity is governed by its Memorandum and Artide3 of Associath'on adopted on 12 Sapt9mbor 1963 as amended by Spe¢S01 Rgsolution dated 21 February 2008. Gov•rning Body Tha affairs of tha charity are managed by a goveming body. Th8 trustaès of thè charity are also members of tha govèmlng body. Mr fimothy Lowe Mr LaurencE Ca Mr Edward Nicholls Mr John Shackl8ton Ichalmianl Recrultmont and Trnlnlng of Trust￿$ The charity's trustees and TNstg9s are appointed by the Board of Truste8s after duo considoration given lo gligibility, personal competence, speThalist $kill$ and local availability. N8W tnjstees and Trusto&5 are inducted in the worknngs of th& charity and the school by the Board of Trustegs. the Headmaster and Busin8ss Manager. Ongoing training 13 Provided periodically. The Board contsnues to actively replace itself with suitsble candidates who ¢8n demonstrate a pa55ion for L¥)ntinuous impmv8m8nt and who can offer any skn11 required of a diverse voluntsry group. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Org¥nlsatlonal Man49omont The Trustees are legally rèsponsible for th8 overall management 8nd control of the School. The work of Implementing most of their policie8 18 carried out by member8 of warious commiltees. Thg Financg Committ9• nomially meets before each meeting of the goveming body and on other occasions. They review managemont ac¢ounts, approva revanue budgets, consider capitsl projacts and costs and fin81iso the audited accounts and annual report f￿ approv81 by the govgming body. Thè Edu¢atson Committee normally meets at least once each term and focus on all ￿demiC rnatt8r5 induding analysis of public 8xaminalion ￿SU1¢S and curricajlum review. Th& Full Gov8ming Bc¥Jy meet at least three times a ye8r1on¢è por tèml trArt the various othèr ¢ommittees will meet more often if necessary. The Headmaster and the Business Manager attend the meeting$ of the above CLynmitt&es. The day to day running of the ￿h(%)IS is delegated to the Headma8t8r supported by his Senior Leadership Team Induding the Business Manager. Rlsk Managem•rt The goveming body responwble for the m8n898mènt of the nsks faced by the school. Detsiled Cons￿￿tIonS of risk a￿ delegated to the Finance ComM￿e8 and Educ81￿￿ Committè8 who arg assisted by members oflhe SenKY Lgadethip T$am. Risks are identifi6d. assessed ané controls established thmughoul the ygai. The key controls used by the charity inelude.. fomal agenda lor all Commitiè8 and Board aCtI￿ty tems of reference for all Comrnittees comprehansive stratsgic planning, budgeting and managomont ac¢ounling fomal writtén policies clear authorisatlon and approval levels vetting proce(lur&$ as raquirad by law for tha protecion of the vulnerable. Through the risk management pro¢osses &stablish8d by th8 trust, tha tnJstg8s ar8 Satisfied that the major risks idontified have been adequalety mitigated wherg n$cès$ary. It is raeognised that systems can only provSd& reasonable but not absolute assurances that major risks have b08n adequatety managed. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31AUGUST 2024 08JECTS. AIMS. OBJECTIVES AND ACTIVITIES Charitsble Object• The Charity's Objects, as set OLrt In the MgmoT8ndum of Associatton. are for the publSc bèn$fft to provid8 oducation for children be￿leen the agas of2 and 16 by way of management of Hulmg H811 Pre-sthool. Junior Leoming Centre and Senior School. In setung objgctive8, the T￿￿tee5 have also considered the Cl)arity Commission's general guidance on public benèfit. In furthering the Charity'8 objectives, the school fumlshes. maintsins and equips Ots buildings and sports facilllles. Tho school awards means-tested bursariés to d$sèrving pupils who cujld not othewse afford to attend the schod. A5ms and Int•nd•d Impact The Hulme Hall EdUCab"on￿ Trnsl's aim is to provide a first-dass 1fid￿endent education, both through strong academie ttlition and through developing wider sporting, artistic and social skills in all its pupils. Thls Is intended lo provide an enviffjnment where each pupil can develop and fulfil hi3 Of her potential. thus to help bLsild sev- confidence and inculcats a desire to witribute to the wider community. Tha cl)jè¢ttv8s of the ￿h0o1 were as follows.. To provide a compl•t• •ducatio) package from the ag8 of 11 to 16 yèars and to contlnually strive for axc811on¢e in all Braas. To provide a Prtrscknool offering for childf8n bèfvA8n thè ages tsf 2 arHI 4. To prowde a challenging, yet caring and suppwtive environmenL which ¢8ter8 for a wlde range of academic To prowde a Caring, nurturing environment combined eX￿lIent pa8lcfal care. whi¢h allows every individual to thrive.. personally. socially and morally, as w811 as acadgmically. To ensure that every child achièvos. if not exceed3 his I her academic potgntial and ha$ thè opportunlty to participate in a W￿￿-ranging pwrammt of c(ptsJrricular actwities. To dgvelop th& effectiveness of pastoral tutoring in smallor 9n)UP$ $0 that every pupil 1$ knoym and valugd. To foDJs on the needs of the individual ond to tailor the ¢urri¢ulum and assoctotgd 8UPPOrt and pastoral care to that indiwduAI to d81ivar th& best possible results. To encourage every pupil to develop all facets of thglr Character.. spirrtual, int811octual. moral. social. cultural. charitable and emotional. To nurturè and davalop indèpgndenl reaming tethniques and approachas to pupils taking ownarship of their outcomès. To improve public examination results through raising stsndards of as5essmgnl. m8rking. tr8cknng and intervention. To ¢MtinLtè tr) rovigw thè content and delivery of the academic curriculum. To improve futher the quality of teathing through staff developmgnt 8nd by er￿urtn9 th81 good pracbee is PTomvlgated throughout the school. To continue lo improve the facdities through a managed sthgdulg of maintenance and major works. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Prin¢ipal activities in the year The Charity principally prowdos s&condary and primary gducalion in the Greater Manchester and Cheshire area to boys ano gids from the ages of 11 to 18. In additi'on. the Charity provides pre4chool education for boys and girts from thg 999$ of 2 to 4. This yoar th$ Senior Sthool averaged 15912023'.1551 pupits and the P￿-School averaged 6712023=651 pupils. Th8 number of stsff employed during the year. including part-tim8 stsff. was.. tsad)Ing related staff 49 and nonthteaching staff 11. Public Benefi( Aims and Int•nd•d Impact The Trust's public benefit alm is to provlde an excellènt indèpènd$nt education through 8 strong academic tradition and through developing wbder soaal, moral and pèrson81 sknlls. These are enc4yJragéd through the devalopm$nt of 8 supportive cornmunity vh)i¢h places a strong emphasis on the individual development of boys and gids. Such an enwronment helps pupi15 to leam self-disrapline, particApate in and be enriched by the challenges of many extra- curricular aCtiv￿.e8 which will contribute to their success in life beyond school and univefsity by aquipping them w high moral values, petsonal qualities and a thirst for knowlodge which wll serve them all their lives and enable tham to bècome worthwhile and r8sponsible citizens. In sgth.ng Out policy and planning the89 activities Ihe Truslees and Trustees have gSv8n caroful considerBb"on to the Ch8nty Commis&on's ggngral guidan￿ on public benefit and in particular th8 requirement lo demonstrate that public benefft for any charitable purp03e where it had previously been presumed in tho absence of evidonce lo the contrary. The Sthool continues to provide means-tested bursaries to chldren whose pa￿nIS would not oth￿Ise be able to pay th8 faos. Flnancral asslstanca was provlded to 18 pupil$ across the s¢hod for the academ1¢ y$ar. Links with local schools and cric4(et dubs have Continued to be developed wth a local prirn8ry school and erricket dubs using the school's sports facilities. The school continues to host tha annual ISA North natball ￿MpetitIOn which utilises the all Weatherlac￿lty. The School continuos to enjoy running the Duke of EdinbuTgh Award Scheffle and prowdes opportunities for training pupils to leam about the enmronment beyond the walls of the school. Grant4naklng polley E¥8ry year, bursaries and other awards aro made to the School's pupils out ol unrastrided lunds. The TrustÈe$' policy is to make these awards on tre basis of the individual's educats'onal potential and. in the case of bursaries, of finanu81 aid. AJI bursaries granted are means-tested. Thi8 year the School gave bursaries and other discounts of £135k12023-.£116k) to holp 31 12023.'321 pupils. Extsmal R￿￿tIOnS The School has maintained tis mambarship of 8 recognis8d n8b.onal 8$sociation throughout the year. Th8 Headmaster is a member of the In¢J8pendent S¢hod$ Assoi>8tiM IISAI. The Sc*ool are also mernbers of the Association of Goveming Bodies for Independent Schools IAGBISI and the IndgP9ndent Schools 8urys8r Association IISBAI. The membership of thesa associations allows th8 school to draw on consid8rabl8 èypertis8 from those 8ssouations in matters of COM￿1￿nCe and edu¢ab"on81 ex¢ollence. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Golng Concern In 2017 the School relocated to its ¢urrent 311e by entering into a lease agream8nt Mlh the Dgpartmenl f Education with an option to purchase th& site at a later date. The proceeds from the sale of the old school 8tte were Used to $tr&n9thgn S¢h&J'$ finanLial position. In hAoy 2024 th& Sthool wmplgled the disposal of the Buttersfield sit$ to boost r8$èN8$ furthèr and promdè the nècèssary caprt81 funding lo purchase the current sthod building from th& D8parlm0nt of Educatir￿. Trustees continue to act proactivély to 88feguard the long-lerm fijture of the Sthool by èxWoring possibl• optson$ such as the morger of th• charity Into a larger enuty to prowd8 finanaal. oparatlonal and govemancg 8UPPOrt, provkllng graater certainty for th8 school. The Trusteas have reviewed the fin8na81 fc¢e¢8sts and proi&¢tson8 vknid) demonstratg that. deBPite the future thallenges of VAT on school fees, al)oliti'on of business rate relief and addrtsonal Nalonal Insurance CA)nIn￿tiOnS (all due to take effect in 20251. the school is able lo meet its obligations as they fall due lor a peric*J of at lèast Iwelve months frcffi Ihe date of signing these financial staternents. Thg Trustg8s hAv8 thgreforg adopted the g￿ng conc8rn basis of ac0)Un￿ng In preparing thè finanaal stotsm8nts. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENTS AND PERFORMANCE REVIEW Op•Yational porfonnance of th• schools and publi¢ benofit At the beginning of October 2022, the school received a FooJse(I Compliance Inspeclion IFCII, alOr￿ wth an Educational Quality InS￿CtIOn IEQII. Once again, th& school Yrds judged as being fulty c4)mpliant in the FCI part of that inspeCt￿n pro￿SS. The EQI part of that process off8rs mor8 detail and judgements relating to the quality of oducation on offai at Hulm8 Hall. Judgements arè madè regarding the quallty of pupils, academic and other achievements. as w811 a$ the qualrty of pupils. porsonal dwlopmenL Th8 inspection report can bé studied In deiail on tha School and ISI website. As noted vrithin the grant making poliey abovè. the principal public banefit provided by the School is means-tested fee assisiance (see details of bursari&s within this policy above) and other fee discounts. This meant that a total of 31 pupils were assist￿1 al ¥ ¢osl of £135k, vthich repmsents 6.fj% ofthe total gross fees in the senlor school. Th* Trustses confim that they have had regard to guidance on public benefft issued by the Charities Commission in thè exercise of Ihar powers and duti8$ whère the guidance is relevant to thg operations ofthe Sthool. This year, Iha Year 11 cohort consisted 0133 pupils, many of whom had joined thg school part way through their senior sthool careers. Our GCSE pass rates Igradas 4-9 inclusivel were at 85%. very similar to last yea¢s 86V•, though there wa8 a further. very pleasing increasè in the percentsge of top gradès (grades 7-9 inclusivel awarded. up to over 22Yts, an increase on last yèar's figure of 18%, which in itself was a big increase from 2022. On a subject lev81, thg Math¢matiu department are worthy of special mention, 8ecuring a 97% pass rat&- thi5 is in a subjoct wherè pass r¥tgs nationally were around the 60Vo mot*. Resujts in English and Science also dearty beat the nats'onal average in lemis of p88s rates, with English achièving 820/0" Inaknonal average 62%) and saen¢9 88% Inalional average 57%1. Art, Craft and Deslgn. Photography. F¢xKI Preparation and Nutrrt¢'on, Mustc and Psyrj)ol￿JY all achieved 100% pass ratés. Unlike some other ind8pand&nt schools. Hulmo Hall is not an acadomieally sgle¢tive schoc4 0$ suth, and w ¢8ter for children with a wide range of a¢adernic abilities. Therefore, simply I￿king #l raw r8sults doesn't n￿ssarilY provid& an a¢¢uratg Picture of an individual child's achievements. For example, achieving a grade 4 or 5 may adually be a very good result fw a child if that result èX¢o$ds Iheir predided or expected grade. For that reason. we also look dos8ly at OUT Valu8 Added data for aa¢h indiwdual pupll. Every pupil completes basélinè aSS￿M&nI in years 7 and 10 ICAT41. which providè$ a prediction of what th8t child mbght be expected to 8chi$ve in 88ch GCSE subject. A6 a school. we aim. through the use of small dass sizes, high quality teaching and individually tailored support, to help that child a¢hl8vo bgyond their baseline targets. In other words. we try to 'add value" for that child. This year our GCSE pupils. orl 8verage, were able to score d¢)se to a full grade 1+0.7) b&tter per subject than was p￿ICted by the baseline data collected at the start of their Hulme Hall careers. That is very gncouraging, gSt>gaally as the examination boards hav6 ravèrtgd to 11ghler pres)andemi¢ grading levels. The 8chool 13 about more than just achieving examin8ts.on ie8uIts though and the 8xcellent pastoral ￿Te and th& support offered by the unique Enrichment Dopartsnent enabled some pupils who may have struggled lo com￿ete their educalion elsththere. to not only do just thaL but lo do so successfully and achieve som8 cr8ditable r8suhs. Hulm8 Hall ¢onb"nu&s to maintsin d05e links with severnl colleges and apwenticeship provldtrrs in the Gr88ter M8nchestsr end Stockport areas. Wè 8Te thankful to our 16+ collaoguès hav8 SUPPOrted us by dèlivering application awJgmNies'. 1..1 Mock Interviews and attending tha 2024 Caro$rs Fair. As a rèsult of a plannèd and varied careers programme, we are pleased to r•port that only Lw)è of our Year 11 Class of 2024 Leavers was NEET (Not in Education, Employment or Training}. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 . 33134 Year 11 Le8vers went on to fijrthef education. training or employment. BTECS & Diplornas continue to be popular ch￿ceS alongside tradiQ'onal A Level suty9¢1s. . This year the most popular college was StockporL One Hulme Hall Leaver have gone on to follow an Apprenticeship in aco)unting. . Two Hulmo Hall Leav8rs have continuad in Indapendent éducation. To ce18brate a SU￿￿$$1y1 sot of GCSE Rtr$uts 8nd t() th$ir $¢hiK)ling at HHGS on a high, the Annual Leavers. Prom was Teinststed in 2024 after a hiatus follo￿ng the COVID pandemic. Over 65 staff and students onjoyad a formal evening where dressing up. arriving in style, eatyng, dancing and re￿Iving Prom Poll Awards and voting for our Prom lfjng and Prorn Queen were 8nioyed by alll School continues to partlClP8te. where possible, in National ISA Sports events and striv88 for success In both tèam and individual pursuits. HHGS perfomied well at the North ISA Cross Country race with a Year 9 pupil p18¢ing overall 3rf in their racé and gaining selection lor the successive year to the North team at tha Nation81 Finals, placing 12th overall in the county for hgr 890 group. Athlet8s also ￿rf0M&1 well at the ISA North Athlètic5 Championships. with one Year 10 student gaining selection to represent the North at the National Finals al the exander Stadiurn. Birningham. Girfs. sporting 0pporttjnit￿s havo d0v9loF￿d ovar thè past 12months, with Nalb811 teams once again Compgting in fn'endlies against other small ISA ￿h0O1$ and scAné local Grammar Schools. A successlul competstsve netball weekend residential look place at Boreatton Park, Shropshire in May 2024. The netball gills w8r8 introdvced to the $$ibilitios o￿n to elite I talented players. when England Roses Academy Player l Manthester Thunder Netball Super L88gue Pl8y&r Ella Bowen visited school and ran both a coaching session and a Q&A. This was th•n followed by a visit lo the AO Ar¥na Man¢hastèrr to attend a Ilxtura and support our local Manchester Thunder tea in def8nce of their 2023 Super Leagug trfg. Football ￿ntinUeS to b8 the most popular sporNng activlty pursued by the boys in s(*ool. Teams wer8 busy vJith 8 number of friendly fixture8 throughout the season. As with the girls, netball, age groups come together to 88tabli3h t8ams and compete both locally and at ISA toumaments. Two notable players in Year 8 ore linked to football Academies, one pl8yin9 at Stoke City FC and one playing at M8cclesfi8ld Tovm FC. Sports clubs have continued to be ￿pular both at lunthb"mg$ and aftor schod, wth attendance continuing to grow. Rugby training has been added a8 an extr8 dub Ihi¥ year al the request of the S¢hod Counal. Indi￿dUal spO￿ng Achievements indude a Year 10 student who. to add to her North of England representational honouts, continues her Windsurfing Roumey by competing and medalling in Inter-club sedès al both Burton and Nottingham Sailin9 Clubs. A Yèar 9 student is followng in his dad's footsteps by aiming to become a professional racing driver. He trains and ¢omp&te$ both nationally and Intèm8tion8lly in the Junior Karbng Circuit and is hoping to movg on to car track races during the next academic year. On Sports Day, toumaments for 88th Year Group saw all schoc4 pupils compete in tug-of-war. rounders. foolball. beachball volleyball, silly games rel8y$ and wally-wanging and w8t&r gamèsl Once again, Lyme Hous¥ were ¢rownad the overall Sports Day winners and Dunham HOU￿ also won the ovorall Annual Hous8 Competh'on. School ended tho ygar our Amnual Awards Presentation Moming with prizes given to our top athletes and to PLtpils in all academic, arts. music and pèrfomiance subjects forAchievement. Commitm$nt & Excellence- ourACE Awwdsl During th• last acad8mic year. school had pupils parb'eipating in both thè Bronzè and Silver Dukè of Edinburgh's Award. Pupils invdved themselves in a variety of Skill. Physical and Voluntoer a¢tiwties, both In and out of, school. 17 parbryp8nts passèd th&lr Bronze Expedition, and 5 participants passed their Silver Expeditlon sgction, and all are working towards full cartthcation. Notsble academlc achievements this year includtr HHGS Y¢ar 10 siudgnts eompeting in the Stockport Gr8mm8r Annual Scienee Team Challenge. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Arts subjerts hav& endoavourgd to stratd) 8nd challengg our sludents this year. Thg Art and Design Bnd Phtitography Exhibition was oncé 8gain A 18aturè of the Summar Tom pieces on diway from GCSE candidates, Key Stago 3 artists and also pie¢e8 ol art photography 8nd uafts submitted by members of staff. Our Music Department continues to inuease the number of pupils playing instruments, singing and taking axams. School hald hvo concerts this year - The Movie Soundtrad( themed Spring Concart and the Summer Showcase whèrè pupils vkno r8caiv8 patipatètic music lèssons w&r& to demonstratè thair talents in a varièty of dis(aplines in¢luding slnging. drums, piano, wolln. flute and guitar. LAMDA {London Academy of Music and Dramatic Arts) continues lo be a thriving paripatetic lesson and a popular addition to our enrichment prc4Jramme. 3 students completed LAMDAexams it) the summer as fc41ows: Year 9 (FBI- DISTINCTION- 911100- Grade 3 Year 8 ILFI- DISTINCTION - 901100- Grade 3 Y•ar 8 IHRI- DISTINCTION - 901100. Grade 2 The Drama and Muslc Departmonfs coll8bor8ted 8t Chrfstm8s by pr8sentlng an Elizabethan penned by H&ad of Drama Ahsan enbtled (Have YourselQ A Merry Tudor Chrislm8s. This drew on the talonts of a large number of perfonners, over 50, from Years 7-11 both perfomiing on stsge, in the band and behind th& sc8n•s helping lwlh th• tochniGal aspeGts of the show. Annually the $¢hool endeavours to provlde our students wlth an array of wslts to slimulale Inte￿SL enrich their education and provide them with opFx)rtunitlès that go b8yond the dassroom. During the academic year 202314, students participated in Curriculum Enri¢hmenl Day5 which Fncludod.. Yèar 7 Bonding Day," Catalyst Srienc Discovery Centre,. Ca3Ueton Cavems and Mam Tor,. Rock & Riv8r Outdoor Pursuits., Lowry Art Gallery and Imperial War Museum North. They attended the Bolton Octagon for a Christmas Panto and GCSE Drama students also had O Msit to Manchester's Royal Exchange Theatre to enjoy a live performance of the Shèlagh Dèlaney play. "A Taste ofHoney.- Our annual tnp to London was Bttèrtded by 4Q students 8s a rewant for their involvement with tha Chnstma$ Productson and visit to Manchester City'$ Etihad Stadium allowed $port$ and nutntm students to ex￿￿6￿¢8 8 day in the life of an MCFC profossional fcthll8r. 2023124 was another succgssful yèar for fundralslng for local and national charitigs. In schocl the puplls nominated suicid8 prevention charity PAPYRUS UK as our rèupiènts thrs year. Th￿9h a variety of 8v8nts. staff 8nd pupils went on to raise £1,783.45. In addition, school raised £741.01 at our annual Ma¢millan Coffee Moming. Otjr ISI Inspaction Raport for 2022 noted the groat charity and community work th8t sd)ool does- for a small 8¢hwl. we are prthjd to mak8 a big difference. HULME HALL EDUCATIONAL TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEWAND RESULTS FOR THE YEAR The Schocd mada 8 surplus after d8prsty8tion of £1.052k12023'. tjofiat of £351k). Indud8d the surFIus was £1,426k net profft on disposal of the Butterfield site and £272k costs assi)uated with th8 rentsl and subsequent rchas8 of th8 current site and WO￿ on an aborted sale to a third party. The Unre8tri¢ted Fund$ 8t 31 August 2024 w9rg £2.572k In $uWu$12023.' £1.5211. Trustees recognise that the C•)ntinuing very *nffi¢8nt oconomlc pressures on parents may have an impact on fvture rocruitment and retention. However. they note the huge commitment of families to Hulme Hall Grammar Sthool 8nd their thildren's educalKsn and that th¢ level ol fee debt owed to the School has not increased significanuy. The new Labour Government's intention to introdu¢è VAT on sch￿)1 fées and wthdraw Business Rates Relief for Charities causès $igntfi¢ant uncertainty in the sector and wijl p08e signffj¢8nt further financial prèssurés on the School throughout 2025 and beyond. The Trustees are mindful of this arKI continue to on$U￿ Ihal effio'en¢ies are mado where possible to cushion against financial Shocks. In¥￿tmOnt Poll¢y and Porforni•n¢g At present the investment policy is to maximise the long-lemi total reium of th& charity's investment funds $ubjeci lo th8 risk nomally assooat8d ￿th a balanchd approach to portfolio rnanagernenl. AJI availabla fvnds were invested vhth National Wgstrninster Bank pjc dèposit accounts. The Trusvs Finance Ccfflmitt•e wll be examining the b8st retums available on inve8trntrnts. R•g•rv•s Poll¢y Free reserves available for the use of tho ¢h8rity ara d88med to ba those that am rèadily realisable. This exdudes proporty and other fixed assets that will continuo lo bo US8d for the day-to4ay running of the charity. As a m8ttgr of pdlcy. each year the trustees review the valve of the reseNg$ wuired to be hekl in inveslments, cash and cash equivalents not restricted to any partiujlar purpose. The Trustee8 consid&r th8 chariW5 exposure to the risk of any 8ignsfi¢ant l<)ss of income, and to the risk of unforeseen expendibjre. whSch ¢annot be mrtigated by axecutive acfion, and the agregd d8gre& of tha rfsk ascribed to each such event is assessg