HYMERS COLLEGE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Registered Charty Number 529820 HYMERS COLLEGE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Index Page Trustee, Goverrtt)rs, Officers and Advisers The Report of the Trustee (in¢lLKling Strategic Reporti 3-13 Independent Auditors, Report to the Board of the Trustee of Hymers College 14-16 Con501idated ststement of financial activits'es lincorporab'ng an income & expenditure account) 17 Balance sheets 18 Consolidated cash flow statement 19 Notes to the consolidated cash flow statement 20 Charity cash flow stalement 21 Notes to the Charity cash flow statement 22 Prinoipal accounb'ng policies 23-26 Notes to the consolidated finan¢ial stat￿ents 27-54 HYMERS COLLEGE TRUSTEE, GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Tntslu l Governors Hyrners College Trusteè Limrte(l is the 501e corporate trustee of Hymèrs College (the Charilyl- Directors of the Board of Hymers College Trustee Limited are defined as Governors and act on behalfofthe trustee, as 8 Body, under that company's Articles of Association and the Charity $ Governance document. The names of those who were in office during the year and up lo the date of signing the financial ststements were as follows. Mr J M V Redman Mr M P Aslell (Chairman from 01101120191 (Vice Chaiman from 0110112019) Mrs S Anwar West Mr P A B Beecroft Professor P G Burgess MT A Chicken Mr J F Connolly Mr D A Gibbons MrWHGore Mrs G A Greendale MrMCSPlall Mr J G Leafe Mrs E A Maliakal MrCMRead Cllr J G Robinson Mr D U Rosinke Mrs M Shipley Mr J P Stsnley Mrs G V Vickeiman Mr J R Wheldon Mr P J E Wildsmilh Mrs E A Wilson {Appoinled 0210712021) (Resigned 311812021) (Resigned 3118120211 (Resigned 217120211 (Appointed 27111120201 This is a complete listofthe Board of directors of Hymers College Trustee Limited, company number 05193649. the trustee of Hymers College, Charrty No. 529820. R8fer&nce lo the tille governorlsl also means directorls) of the Corporate Trustee throughout this report and financial statements. There were 6 vacancies as at 31 August 2021. Executive Lead•rship Personnel Mr J P Stanley Mr P C Doyle Mrs H J¥kson Mrs K F Walker Mr R P Wright Headmaster Head of Junior School Deputy Head (Paslorall Director of Finance Deputy Head IManagem&nt} Governing Documents Charity Commiss#)n Scheme for Hymers College dated 31 August 2004. Memorandum and Articles of Association for the sole corporate trustee, Hymers College Trustee Limited (incorporated 30 July 20041, and Amendments dated 6 February 2008, 12 Mar¢h 2012 and 29 March 2019. Charitsble Statu8 Hymers College is an unincorporated registered Charity. The charity's trustee was incorporated wrth effect from 1 September 2004 as Hymers College Trustee Limited a company limited by guarantee and is registered in England and Wales. HYMERS COLLEGE TRUSTEE, GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) Registered Officg Hymers College 83 Hymers Avenue Hull East Yorkshire HU3 1LL Independent Audlto Saffery Champness LLP Mitre House North Park Road Harrogate North Yorkshire HG1 5RX Bankers National Weslminstor Bank plc PO Box 944 34 King Edward Street Hull East Yorkshire HU1 3YN Sollcltors Rollils LLP Citadel House 58 High Street Hull HU11QE Insurance Brokers Aon Risk Services Limited 3 The Embankment Sovereign Street Leeds West YoTkshi LS14BJ Membor6hlp¥ and Afflllatlon8 The Headmaster is a member of the Headmasters, and Mistresses, Conference IHMCI and the Association of School and College Leaders {ASCLI. The school is a member of the Association of Goveming Bodies of Independent Schools IAGBISI and the Independent Schools, Bursars Associab'on IISBA}. It is affiliated lo the Independent Sch¢Jols' Council {ISC). HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 Augu8t 2021 The Board of Directors of the sole cory)orate trustee, Hymers College Trustee Limited present their report and audited consolidated financial statements for the year ended 31 August 2021. Stwcture, Govomance and Management The role of the Governors of Hymers College is to plan and implement strategies that will best meet the objectives of Hymers College as an educational charity. The Governors are also directors of Hymers College Trustee Limited for purposes of the Companies Act 2006, Day to day managemgnl of the school is delegated to the Headmaster supported by the senior leadership team. The structure and membership of the Govemors. Committees and working parties are subject Ic ongoing review lo ensure that they are fit for purpose. Currently, there afe 20 Govemors. All Govemors are Cowopled and serve for renewable periods of not more than 5 years. Below the Board of Governors there are now the following standing ¢ommillees'. a. Education Committee. b. Finance and Property Committee. Health and Safety Committee. d. Govemance Committee. e. Nominations Committe8. f. Remuneration Committee. The￿ are written lems of reference for all committees which are reviewed annually. The Board of Govemors review and approve recommendations of the minutes of standing Committees. In addition, several Govemor5 have delegated responsibilities to liaise with school staff and report Ihrough the relevant standing Cornmittees on the following areas.. a. Audit b. Capital Developments c. Fee Remissions d. Health and Safety e. ICT f. Marketing, g. Safeguarding including the Staff Register. Governors are subject to enhanced disclosure from the Disclosure and Barring Service. Induction training and continuous training are made available to all Governors through the Association of Goveming Bodies of Independent Schools IAGBIS). New Govemors are provided with the opportunity lo attend meetings of any of the committees in their first year to familianse themselves with the structure and functions of the school's system of governance. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 August 2021 ICONTINUED) Achlevements and Review of the Year Having successfully negotiated the considerable challenges caused by the coronaviru5 pandemic in the second half of the previous year, the Hymers staff put a great deal of thought and energy into ensuring the school was ￿adY in September for the 'new normal. of educats'on under the shroud of Covid-19. Enhanced sanilisation, year group bubbles, face mask wearing, one-way systems, assemblies over Zoom.. these were some of the mitigation$ implemented in response to Government guidance to ensure that the highest standards of education for pupils across the age range were maintained. As the school year got undemay, it soon became apparent that constant vigilance, monitoring of the Covid case-rate both within school and in the wider community, regular liaison with the local Health Protection Team and ongoing open communication with the parent and pupil body woukl be requlred throughout the academic year. The previous year, 2019-20, had seen the school transition over the course of a weekend to remote learning for all pupi15. The challen9e of maintaining continuity of education ￿mained throughoul 2020-21 but was joined by further tests.. that of providing a hybrKI model of education for the pupils which catered for the needs both of the majority who were in school as we15 as for those who were at home self-isolating, together with the requirement to maintain social distancing as faT as possible in a large school. And at all times, we strove to provide for our pupils the richest and broadest possible educational experience within the parameters that kept them and the wider school community safe. As the restrictions on wider s￿ietY and accordingly school-life were relaxed, subsequently reimposed and then relaxed again, staff and pupils showed remarkable ingenuity and flexibility in switching be￿een physical. on-site education and digital adivitses. During the period from the start of the Spring Tem in January until March 81h the school'5 entire Gurriculum, in its broadest sense, was delivered online. Before and after this period. however. wherever yve Gould, teachers and pupils enjoyed the opptsrtunities provided by face-lo-face interaction and learning. Throughout the year, the school's Senior Leadership Team and wder staff body prioritised the emotional and physical welfare of the pupils who were experiencing the most demanding time for young people in living memory. The school's ￿puta￿'on for outstanding pastoral Ca￿ was enhanced as every mean5 was found to promote regular communi¢ation with pupils, open channels of support, and ongoing opportunities to reach out, connect and do physical exercise with friends. Lockdown proved no impediment to these components of pupil welfare., in fa¢t, it was a stimulus for the development of more inventive means of providing them. The Senior School's No-zoom Day allowed pupils and stsff alike opportunities for creativity and fresh air, as well as much needed time away from their digital devices. Another way in wh￿h the pupils, leaming was enriched was through regular Zoom ialks and presentation5 throughout the year from Old Hymerians who were keen to share their wisdom and insight with the younger generation. Embedded within the tapestry of pastoral care and broad educational opportunities provided by Hymers was a rich programme of Corycurricular activities and club5, many of which have long been a part of the wider life of the school but some of which sprang up in lockdown. While for most of the year the pandemic pul paid lo competitive fixtures against other schools, pupils enjoyed midweek and Saturday sports practices developing their fitness and skills alongside their peers. Concerts and plays in the Autumn and Spring Temis lacked a live audience but parents and supporters of the schwl were grateful to be able to watch their children perform online. The opportunrties that the Summer Term provided for some cricket and lennis fixtures against l¢xal schools as well as outdoor thèatrical and musical perfomiances were particularly appreciated. A further highlight of the school year was a rnemorable Activities Week that included the Senior School's first Sports Day fora number ofdecades. The school Continues lo provide its pupils with substantial opportunities for leadership. In the Junior School the Year6 Leadership Club oversaw the community's excellentfundraising efforts, while in the Senior School the prefect team was run by an expanded team of 14 Senior Prefects. Alongside the School Council. thi5 body play a vital role in decision-making within the school, as well as serving as superb role models for younger pupils. A further 51 students have the ro￿ of Form Prefect, in which they allend some of the fomi periods of younger classes in the school and support the Tutor in pastoral care and the delivery of Personal, Social, Health and Econom￿ EtJuGation IPSHE} lessons. 62 students have been trained to be 'Buddies' in a system where older students Gan support younger one5 with any specific difficulties they are experiencing. HYMERS COLLEGE ThE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED) AChi￿orn8nts and Revlew of the Year l¢ontlnued Due to the nation-wide disrupts'on to learning, in a similar way to the previous year, external examination results in 2021 were awarded on the basis of Teacher As$8ssed Grades. At A-Level the results achieved by Hymers students were exceptionally strong. 39QA of all examination entries were awarded the very highest A. gode,. 69Dh were awarded either A'IA gRdes,' while 890A of all examination entries were graded A" to 8. Two-thirds of all Year 13 students gained al least 3 A"IA grades. These results, which are in line with those achieved by our students in the previous record year and substantially above those gained by olher schools and Golleges in the area. place Hymers among a narrow bracket of leading schools nationally. Alongside their A-Level qualifications 27 of our Year 13 students completed an Extended Project Qualif￿allOn {EPQ), with 74010 of all grades being A'IA, while 54Yo of all Certificates from the London Institute of Business and Finance ILIBFI were awarded A"IA. The results achieved by the Hymers A-Level Class of 2021 saw 90% of students gain places al their first choice university, three gain places at Oxbridge, and 14 tske up places lo ad Medicine. Dentisty, or Veterinary Science. Resums at GCSE kvel in 2021 were similarly outstanding. The average grade from 1011 outcomes was 7.4 and 710kn of all grades were in the range 9 to 7. The core subjects remain a key strength of the school, with the average grade in English Literature being 7.6 and in Maths 7.4. In the sciences, 530/0 of all grades were 9 or 8, equivalent to the old A" 36Yo of all Year 11 students achieved at least 8 grades 9 or 8. Students at Hymers conts'nue to take pride in the school's history and ils ￿lI10Th in the local community. Despite the restrictions imposed due to the pandemic and much of last year spent in lockdown, Hymers students Continued to b8 very acbve in serving their local community. Senlor S¢hool Christmas F¢>od Collection This is an annual event that normally involves our Sixth Form students distributing the food collected by the rest of the sch¢)ol. The food is delivered to families and charities, in and around Hull, who are in desperate need. This year we could not distribute the food in the normal way, but nevertheless, a huge stock of food goods were collected by our students and passed on to five charitable organisations that distributed the food to the needy on our behalf. Four of these, St Ambr05e, St Bede's, St Benedicl's and St Giles. are part of the Hull Churches Housing Association working with families and people In need and recovering from difficult circumstances. The fifth organisalion was Endike Community Care. Volunteering by our Slxth Fonn Students Many of our Sixth Fomi shjdenls signed up to a Volunteering Club that was started during the lockdown. They were linked vAth local charities who were in need of volunteers and other resources. Students collected 25 unused devices, including laptops, iPads and mobile phones and donated these to the Vodafone 'Tech Appeal. These devices were given to Support disadvantaged students who dKI not have access to devices for online learning. 15 of our Sixth Form students were involved with volunteering in a newly established refvgee cenlre, Welcome House. They collected bags of clothing and books. decorated the new refugee centre, helped the charity to move from their old premises and created artwork for the ¢enlre. Community Servlce Day8 During the summerterm with Some relief from the strict limitations imposed during the lockdown, our students were again able to take part more directly in seNing the community. 100 of our Year 7 student5 spent the day at the National Avenue allotment clearing away waste wood and garden refuse., as well as helping to maintain plots for tenants who were ill or self-isolating. 112 of our Sixth Former students spend a day serving the community in a variety of ways. working on nine differenl projects with seven organisations. Students painted murals, cleaned up gardens, produced artwork, picked up litter. painted and decorated venues. catalogued historical memorabilia and support8d younger students on STEM projects. All of this resulted in 1,200 hours of service to the community by Hymers pupils. Charltles of the Year Every year. Hymers choses tsvo local Gharities lo support through various fundraising events. Despite significantly less opportunities for fundraising, the two student-chosen charities of Oakwood Dog Rescue and Downright Special each received cheque5 for £1,000. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED) Achiovements and Review of the Year l¢ontlnued} Junlor School The Year 6 Leadership Club played a particularly active role in promoting the pupils, charitable acty'vities. They raised over £3,300 through their 10-Day Challenge and Zoom Games Aftemoon for Hull Foodbank, Meningitis Now and Spread a Smile. They also organised a T￿aSUre Hunt for each Year Group (Bubble) and a home clothes day, raising £425 in the process. Year 6 pupils also ¢￿ated bunting for the'Helping Hands Project,, a city-w'Kle trial project to celebrate people who have helped us Ihroughout the pandemic through the use of h8nd-shapes. The Year 6 Choir raised £690 for Barnados by recording the song, Wings of Hope. Four Harvest Festival donations were made to Hull Food Bank & Hull Churches Home from Hospital SeTvi¢e. OBJECTIVES AND ACTIVITIES In furtherance of the intentions of the founder of the school. the Reverend John Hymers. the principal object of the charity is lo aévance the education of school age children by providing a day school located in the City of Kingston-upon-Hull, to benefit the City, East Yorkshire and North Lincolnshire. The founder's objgGlive, which is still pursued today. was for a school which provides". 'for the training of intelligence in whatever social rank of life it may be found Governors remain commffted to this objective in their management of the Hymers Fee Remission Scheme. We gratefully acknowledge the continuing support of The Sir James Reckitt Charty. through its contribulions to the Scheme. During the year. the Bursary Scheme provided financial assistance to 115 pupils from lower income families. Financial support ftir recipients of Hymers Fee Remissions is also available from The Eric Gordon Mallalieu Bursary Fund, the Howard-mallalieu Scholarship Fund and a bequest in memory of the late Mr Peter Lovell. The John Hymers Bursary Fund was launched In 2016 and donations to this fund continue to b& gratefully ceived. Financial sUPPOrt is means-tested and the fairest way of making grants to ensure acc8s$ lo the school, regardless of income, 18 available lo the widest possible soci04emographi¢ mix of children. Stralegl¢ Intsnts and Futuro Plans for Development Our strategic vision for the continuing development of Hymers College as a Centre of educational excellence requires a foGu$ on student cenlred learning, enhancing learning disciplines, innovation and creativity among pupils. For our vision to work, capital expenditure on the campus, regular maintenance and improvements to our facilitie5 must be ongoing. The school conlinues to use any surplus thal it makes111 to offer fee assistance to support the education of pupils who would otherwise not be able to afford a Hymers education and12) to invest in the education of its pupils. The school has continued to update 115 facilities in 2021 by refijrbishing classrooms, science labs and fittin9 a new extraction system in OT. The all-weather pitch and lighting has also been completely renewed. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 {CONTINUED) Publlc 8onefit Our strategy aims to meet several broad objectives,. by continuing to provide signrficant educational benefit to the community, not only by awarding Hymers Fee Remissions grants to enable academically able children from low income families to attend the school, bul by implementing programm8s, events and letting our facilities in broad support for educats'on and practical wellbeing projects to local people and community groups. School staff and pupils regulady engage wrfth the wder ￿MMunity and provide mentoring. The Board of the Trustee has taken full account of the Charities Act 2011 regarding the Public Benefit required to be provided by independent schools in support of their charitable status and remain confident that such benefit is being provided within the stated aim of the charity to advance the education of boys and girls in or near the City of Kingslon-Upon-Hull, East Yorkshire, and North Lincolnshire. The school encourages local organisations to use its facilities, which include a swimming pool. all-weather pitch, theatre, sports hall and sports centre. In the past year the school has seen a wide range of organisations on campus. In a wider context, the school continues to make a significant contribution to the life of the city. Thls Is achieved in thr88 main ways.. 1. Through financial contributions to families who would otherwise be Unab￿ to afford a Hymers College education., 2. By students volunteering in the IC￿al communty., 3. By offering outstanding facilities for use by the local community. FITnan¢lal Asslstance We continue to educate a significant number of children from a broad range of backgrounds at no Cost to the State. The Independent Schools, Council's Impact Assessment Tool was used to ealculat9 that Hymers College saves the UK Exchequer a substantial sum of money by eliminating the cost of providing education for those child￿n. The school devotes around 110h of its income to bursaries io enable academically talented children from Iow4ncome backgrounds lo attend the school. Hardship Funds Ongoing bursaries and short-term hardship grants were made to enable pupils whose parents experienced reduced income due to the effects of the Covid pandemic, bereavement loss of employment, illness or injury to ￿maIn al the school. Charitable Contn'butions Each year the school makes a significant contribution to local charrties. This year the School's official chariti.es have direclty benefitted from ongoing fund raising. Natlonal Cltlzen Servlce Hymers College remains the only independent school in the county that acts as a service provider for the National Citizen Service INCSI. Hymers NCS carried on with a successful programme delivery during the pandemic with 36 young people completing a specially designed course in autumn 2020. This saw our pupils give over 1.000 hours back lo the community and raise a sum of £1,200 to buy Christmas presents for the homeless community. They also tackled loneliness in care homes by becoming pen pals, buying Christmas gifts and also ¢reating a festive musicallquiz to watch on Christmas day. Due to the ongoing $u¢¢ess of our NCS programme, summer 2021 saw Hymers tske on an addits'onal fwe new schools in the Beverley area. This has taken our partnership lo 14 schools and colleges in Hull and East Riding. With summer 2021 approaching. Hymers NCS recruited 184 young people from our neknrk on new 2-week programme. The young people gave 5,430 houts back into our Gommunty, working with HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 {CONTINUED) over 10 different charities and raising over £3,000. The value of the time given back into the community in terms of people hours worked out at over £47,000 (worked out at national living wage). Throughout the year NCS continued to build on our relationships with the community through the 'NCS Local Action Group,. This saw Hymers creating links wth refugee charities, one of which w8 have helped move in lo a new building. redecorate it and then also work with service users teaching English and provlding clothing. After the tragic doath of Sarah Everard. the group also decided to tackle the issue of unwanted sexual behaviour. They did this through creating a powerfu5 video which is now used in the school's PSHE lessons and also those in our partner schools. Hymers NCS also created a new partnership with Northern Rail. This saw all our participants travel to various parts of our local community to help where required. One programme saw a team from Hymers and another local maintained school help the community group ￿deCorate their communal areas at a train station. They have also designed a mural fora second local train ststy'on. On the back of this partnership, the school's NCS Ioc81 action group engaged in activities lo help tackle unwanted sexual behaviour. Two Sixth Fom students represented the school at the Inclusive Leadership Conference in London and met the Prime Minister at No.10 Downing Street to discuss their NCS work. Prlnclpal R18ks and UnGertaintie8 We regularly review the school's principal areas of operations and consider the organisational risks it might face. The Board will conb'nue to actively monitor the effects of risks on its operations and review existing and emerging legislation. and likewise the effects of current and forecast economic and rnarket conditions. The principal risks include, but a￿ not restr￿ed to.. Pension costs., Compelition from stale and private se¢tor education providers., Attracting and retaining talented educational profeSS￿nalS.. Fee pressure., Cost inflats'ons., Large wral and urban catchment area., and Meeting the fluid demands of society lo demonstrate the value of a private education. We ￿gUlarlY undertake a detailed review of the financial risks we face which are proactively monitored on a r8gular basis, and our assessmenl of the possible financial impact of those ri8ks will be ineory)oraled into the calculation of the school's reserves. Group Hymers College is the parent chaTity of a group which comprises three wholly owned subsidiaries, Botanic Sidings Limited I￿. no. 3796732}, The School Shop (Hull) Limited Ico. no 23498031 and The College Enterprises IHulll Limited Ico. no. 25830121. Each subsidiary is a trading company sel up to deliver the charitable objectives of Hymers College. The School Shop (Hull) Limited.. Provides a retail shop for school apparel lo pupils to ensure that pupils Can feel a sense of belonging and community. See note 12 for a summary of results. The College Enterprises (Hull) Limited.. Owns the f￿ehO￿l title to the Theatre building which it lease5 to the Trustee to deliver the charitable objectives of Hymers College. See note 12 for a summary of results. Botanic Sidings Limited.. Owns property which is used by Hymers College to provide 5POrts facilities including an all-weather pitch and playing fields. See Note 12 for a summary of result5. ## **HYMERS COLLEGE** ## **THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED)** ## **Reserves Policy** Currently, the College holds free reserves, which are defined as unrestricted funds excluding land and buildings. Free reserves include cash and other working capital balances. As part of our strategy to build effective flexible financial reserves we evaluate our need for reserves and hold those reserves to ensure that we can deliver services. - **Financial impact of risk-** There are a range of risks the charity faces, including the risk of an unforeseen drop in income and in the extreme, to political influences which may pose an existential threat to the College. Currently, we have disregarded remote risks until the likelihood is more predictable; we have decided to focus on risks which can be mitigated by prudent planning. To ensure that there is no significant disruption to our charitable activities, holding an appropriate level of reserves in cash will enable the organisation to respond to unforeseen reductions in income, which we determine as a low risk in current circumstances; or additional expenditure such as increases in Teachers` pension contributions. - **Working capital-** A significant proportion of our reserves are represented by cash, trade debtors and stock. We maintain a large proportion of our current assets in cash to reduce dependency on borrowing and cut the cost of financing our services, these cash reserves meet day to day liabilities. Our reserves policy defines the framework we have in place to determine the level of reserves we consider to be necessary for our organisation and draws upon guidance provided by the Charity Commissioners` in CC19. Levels of working capital do not vary materially from year to year as a result of stable income levels and fixed costs. As of 31 August 2021, the School held £1,455,791 of free reserves, ie funds which the School could spend on any of its charitable purposes (an increase of £193,057 on the previous year). The target range of reserves is £750k - £1.5m, ideally held as cash funds or short term investments rather than a combination including stocks and debtors. This figure would be in addition to restricted funds which cannot be utilised for operational expenses. The School has high fixed costs, mainly due to salaries and premises costs and it would be very difficult to react to a significant un-controlled fall in core income. The cost of paying salaries and associated costs per month is in excess of £500k. A sharp decline in income would most likely result in the School having to make redundancies and further operational cost savings. A reserves figure of £1.7m would provide up to three months cover for salaries and expenses and avail time for planning and borrowing/overdraft arrangements, should income drop suddenly and unexpectedly. Current reserves are within the target range and will be reviewed as part of investment planning in 2021/22. ## **Commitments and long-term plans** The Board of the Trustee remain committed to developing the land and buildings which form the entire campus and will approve capital projects, from time to time, when funds permit. To ensure the long-term viability of the charity we may need to reduce our reserves to fund capital projects, then re-build those reserves over several years, from operational surpluses. Subsequent to the year-end the decision was taken to expand the College’s offering through the acquisition of Hessle Mount, a local school covering pre-school and early years education. This arrangement is expected to complete over Summer 2022. - 9 - HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED) Pfjnslon Liabilitios The College is a member of the Teachers- Pension Scheme which carries an overall fund deficit. Because we carry a proportion of the fund's liability with other member5 Of the sGheme the assets and liabilities of this defined beneflls scheme are excluded from the reserves calculation as they are not expectèd to lead to any short or medium-tem cash outnow which is not already included in budgeted spending and nel cash inflows. Thi$ is consistent with the Charity Commission guidance. Endow•d Assets The assets held in a Pemi8nent Endowment Fund are used lo generate income which is applied to meet the charitsble objectives of the College. The fund 1$ to be held indefinitely and the College does not have the power to convert the fund, which comprises land and buildings, into income. Funds Transfer A funds transfer has been made éuring the year from the Reslricled Fund to the General Fund to record the fact that donations lo the ￿$1￿cted building fund have been applied to the purpose for which they were intended. Rlsk Managemont In our opinKsn, Hymer5 College has established robust policies and procedures to address key risks and monitors performance, aware of changes in risk, including personnel vetting Systems, which un(ler normal conditions will allow general and specific risks in its day to day operations to be mitigated lo an acceptable level. A key purpose of the Trust Corporation is to provide a layer of protection to persons acting as Govemors, 50 that we can reduce their peTsonal liability under normal GirGumslan￿s to allrad the very best governors with the widest range of professional skills and experience. FlTrancl•l RoViQW We take the view that, in order lo support the Headmaster in providing excellent a￿lem1¢, culbjral, pastoral and sporting education opportunities for its pupils, Hymers College musl operate on sound business principles. with an efficient organisational structure which can respond qui¢kly to opportunrties and challenges to deliver to our students the best possible value for money. The Governors are confident that projected pupil numbers, fee income and existing ￿SerVeS can support the school's educational prograrnme. The Board of Governors. operates a responsible financial strategy based on projected revenue, ￿serveS and educational need and will only approve plans for expenditure presented by its Committees after an appropriate level of due diligence and corporate governan¢e. Budget reports are presented every temi to the Finance and Propety Committee before final review by the Board. Each year, heads of departments submit their bids for funding and are subsequently allocated devolved budgets. Income and expenditure is monitored on a monthly basis by the Headmaster and Director of Finance. The total incoming resources for the year, as set out in the Statement of Financial Activities on page 17. amounted to £10.235,03412020.. £9,963,080}- Going Contem We draw attention lo the Ststement of Comprehensive Income which ￿portS a surplus of £488,978 and Statement of financial position which shows nel assets of £14,444,262. As ststed in the Accounting Polbies, 10 HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 20211CONTINUED) Going Concern and Impaimient of Fixed Assets, there is no material uncertainty about the College being able to continue as a going concern as a result of the economic impact of COVID-19. There are no longer- term conditions, relating to the pandemic that may cast significant doubl on the ability of the College to continue as a going concern. Our Finance and Audit Committee have established key perfomiance indicators which they monitor regularly. Cash flow management remains an important factor in detemining the financial health of the College and therefore we regularly adjust our financial plans based on the available cash resour￿, and our senior management continue to revise the business plan when necèssary, lo adapt to changing circumstances. Voluntary Support We gratefully acknowledge the hours of voluntary work undertaken by Govemors, parents and other supporters of Hymers College to assist the school in delivering core eduealion services, and lo raise funds. Hymers College Assccialion and the Old Hymerians Association provide invaluable support and we a grateful for all of their contribution. In addition, several individual parents assist wrth school activits'es both on and off-site and we are gratefvl to them all for their involvement. Fundrai•ing Members of the College's staff and student body organise various fvndraising events and Cowordinate a variety of activities both within the school and Ihe wder community to raise funds for an array of charitable causes throughout each year. The school does not use any professional fundraisers or involve commercial participators in its fundraising efforts. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED statement of Trusteeg Re8ponslbilitles In relation to the Flnan¢ial St•lements The directors as a Board. set out on page 1, lon behalf of the sole corporate trustee, Hymers College Trustee Limited) are responsible for preparing the Report of the Trustee and the fi'nancial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo Charits"es in England and Wales requires the trustee to prepare financlal statements for each financial year which 9ive a true and fair view of the stale of affairs of the charity and its group and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the trustee is required to.. select suitable accounting polioie$ and then apply them consistently- observe the method5 and principles in the Charities SORP 2019 {FRS 1021,. make judgments and estimates that are reasonable and prudent., slate whether applicable accounting stsndards have been followed, Subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going con¢em basis unless il is inappropriate to presume that the charity will continue in buslness. The Trustee is responsible for keeping proper accounting records thal dI￿10¥e with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure Ihal the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed, They are also sponsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Gov8mors' Indemnltles As pemiitted by the Articles of A550ciation of the corporate trustee, Hymers College Trustee Limited, the govemors have the benefit of an indemnity which is a qualifying third-party indemnty provision as defined by Se¢lion 234 of the Companies A¢t 2006. The indemnity was in force throughout the last financial year and is Gurrently in force. The Charity also purchased and maintained throughout the financial year Trustees, and Offi¢ers' liability insurance in respect of itself and its Govemors. Repo￿ng of S•riou$ Ineldants The Governors confirm that any matters of concem that have arisen during the year whih would require notification to the Charity Commissioners have been notified. Investment Policy Unrestricted Funds The Governor5 are required to invest free monies in accordance with the Trustee Act 2000. All free monies are deposited at the best rate of return available whilst sts'll providing a prudent spread of risk. The return obtained on cash deposits Is Satisfactory for the year. Restricted Funds and Llnked Ch8rlty These Funds include donations by benefactors for specifi'c restricted purposes and the assets of a separate and legally dislincl charity- The Eric Gordon Mallalieu Bursary Fund is a separate charity, but the Charity Commissioners issued an Order uniting this charity with Hymers College, the reporting charity, for administration and accounting purposes. Therefore, it5 as5e15 a￿ reported as part of the funds of the College. The Eric Gordon Mallalieu Bursary Fund, Peter Lovell Scholarship Fund and John Hymers Bursary Fund have been established to advance the educab'on of children who are disadvantaged by reason of their social and economic circumstances by givin9 financial assistance for such Children to attend the school. The Howard-mallalieu Scholarship Fund mokes grants to pupils from low income families who go to university and read for a degree in Chemistry, Engineering, Mathematics or Phy51CS. 12- HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 ICONTINUEDI Audit Informatlon We the di￿tors,, as a Board, acting on behalf of the corporate trustee of the charity who held offKe al the dale of approval of the financial statements as set out above each confirm, so far as we are aware. that.. There is no relevant audit information of vA)ich the charity's auditors arè unaware.. and Relevant informatK>n is defined as the trustee has taken all steps that it ought to have taken to make itself aware of any relevant audit infomats'on and lo establish Ihat the auditor Is aware of the infomiation. This report has been prepared in accordance wth the Charitie$ SORP 2019 {FRS 1021. The Report of tho Trustee has been approved by the 8oard of Directors of the Trustee and signed on ils behalf by.. J M V Redman On beh81f of the Irustee Hymers College Trustee Limited Date.IK.IL .2022 13 HYMERS COLLEGE INDEPENDENT AUDITORS, REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE Oplnlon We have audited the financial stalements of Hymers College (the 'pa￿nt ¢harity'} and ils subsidiaries (the 'group') for the year ended 31 August 2021 which comprise Consolidated Statement of Financial A¢tivilie$ {incorporating an Income and Expenditu￿ Accounts), the Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group and parent charty's affairs as at 31 August 2021 and of the group's and the parent charity's incoming resources and applicalDn of resources for the then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the reqU1￿ments of the Charities Act 2011. Basis for oplnlon We Qonducled our audit in accordance with International Standards on Audlting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of Ihe financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons Relating to Going Concem In auditing the financial statements. we have concluded that the trustees, use of the going con¢em basis of accountrng in the preparation of the financial Statements is appropriate. Based on the work we have perfomed, we have not identifi'ed any matenal uncertainties relating to events or condits'ons that, individually or collectively, may cast signifi'cant doubt on the group or the parent charity's ability to continue as a going concern for a period of al least ￿e1ve months from when the fi'nancial ststemenls are authorised for Issue. Our responsibilities and the responsibilities of the Iruslees with respect to going Concern are described in the relevant secbons of this report. Othgr Informalion The trustees are responsible for the other information. The other information comprises the infomiab'on included in the annual report, other than the financial statements and our auditor's ￿pOrt1hereon. Our opinion on the financial statements does not cover the other information and, except to the exlenl otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other informats'on and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othemise appears to be matenally misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise lo a material mi5slatement In the financial statemènts themselves. If, based on the work we have performed, we conclude that there is a material misslalement of this other information,. we are required lo report that fact. We have nothing to report in thls regard. 14- HYMERS COLLEGE INDEPENDENT AUDITORS, REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE Matter8 on whlch we are requlred to Report by Exceptlon We have nothing to ￿pOrt in ￿spect of the following matters in relation to wh￿h the Charlb'es {Accounls and Reports) Regulations 2008 require us to report to you if, in our opinion.. the infomation given in the Trustees. Annual Report is inconsistent in any material respect with the financial stalemenls,. or the parent charity has not kept sufficient accountsng records.. or the pargnt Gharity's finanGial statements are not in agreement with the accounting records and relurns", or we have not received all the information and explanations we require for our audit. R•spon8ibilities of Tru81•0 A5 explained more fully in the Trustees, Responsibilities Statement set out on page 12, the Iruslees are responsible for the preparation of the financial st8temenls and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statèmènts that are free from material misslatemenL whether due lo fraud or emr. In preparing the financial ststements. the trustees are responsible for assessing the group and the parent charty's ability to continue as a going concem, disclosing, as applicable. matter5 related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative bul to do so. Audltor's Responslbilities for Ihe Audlt of the Financlal Ststement8 We have been appointed as auditors under the Charities Act 2011 and report in accordance wth regulations made under that Act. Our objecttves are lo obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whelhei éue to fraud or error, and lo issue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can aris8 from fraud or error and are considered mater￿1 if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularf(ies, including fraud, are instances of non40mplkqn¢e with laws and regulats'ons. We d8sign procedures in line with our responsibilities, outlined above, to detect material misslatemenls in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are Capable of detecting irregularities, including fraud are detailed bglow. Identifying and assessing risks related lo irregularities.. We assessed the susceplibilily of the group and parent Gharily's financial statements lo material misslatemenl and how fraud might occur, including through discussions with the trusteos, discussions within our audit team planning meeting, updating our re¢ord of internal controls and ensuring these controls operated as inlerided. We evaluated possible incentive5 and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity by discussKsns with trustees and updating our understanding of the sector in which the group and parent charity operate. Laws and regulations of direct significance in the ¢ontext of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Report$l Regulations 2008 and guidance issued by the Charity Commission for England and Wales, the Independent School Standards are found in the Education and Skills Act 2008 and guidance issued by the Department for Education. 15- HYMERS COLLEGE INDEPENDENT AUDITORS, REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE Audlt response lo risks identified: We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items inGluding a review of financial statement disclosures. We reviewed the parent charity's records of breaches of laws and regulations, minutes of meetings and correspondenc8 with relevant authorities to identify potential material misstatements arising. We discussed the parent Charity's pOI￿leS and procedures for compliance with laws and regulats'ons with members of management responsible for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-¢ompliance with laws and regulats'ons or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We a¢Jdres$ed the risk of frau¢J through management overrsde of ¢ontrol$ by testing the appropriateness of journal entries and identifying any significant transaclions that were unusual or outside the normal Course of business. We a$se$sed whether judgements made in making a￿oUntIng 8Stimates gave rise lo a possible indication of management bias. At the completion stage of the audit, the engagement partnerfs review included ensuring that the team had approached their work with appropriate professional $¢epli¢i$m and thus the capacrty to identify non-eompliance with law$ and regulab'ons and fraud. There are inherent limitslions in the audit procedures descnbed above and the further removed non- Compl￿nCe with laws and regulations is from the events and transactions reflected in the finan¢ial statements, the less likely we would become aware of it. Also, th8 risk of not detecting a malenal misststement due to fraud is higher than the nsk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's websrte at.. www.frc.or .uklaudilorsres onsibililies. This description fonns part of our auditorfs report. Use of Our Roport Thls report is made solely to the parent chanty's tw$tees, as a body, in accordance with Part4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the parent charity trustees those mallers we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other than the parent charity and the parent charity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. Lle Saffery Champness LLP Chartered Accountants Mitre House North Park Road Harrog*e North Yorkshire HG1 5RX Statutory Auditors 17 June 2022 Date.. Saffery Champness LLP is eligible lo &t as an auditor in temis of section 1212 of th8 Companies Act 2006 16- HYMERS COLLEGE CONSOLIDATED STATEMEKf OF FINANCIAL ACTIVITIE8 FOR THE YEAR ENDED 31 August 2021 Unre$lrf¢ted Restricted Funds Funds Endowment Fund 2021 Total Incomè Nota 2020 Donalicms and18gaci•s Other trading aCti￿tieS Investment In￿Me 49,708 44,775 94,481 128.009 182,133 182,133 136,891 14 539 622 1.175 6,132 Charitable activities.. Tuition and as80c191ed Inccme 9.753,630 9.753,630 9.551,730 Ancillary tradlng Income Other incoming resource3 202,838 202,836 139,252 779 779 1,066 Total income 10,189,09B 45,314 622 10.235,034 9.963,080 xp&nditure Raising lund8'. Fundraising Trading cost of goods sold Charitable activities.. Tuition and 8$swoled costs 25.355 23,35S 19.761 206,310 206,310 1fj0.599 9.507,063 3,150 9,510,213 9,339,346 Olhor Pension def￿rt reduCt￿n costs- interest 7.16 8tKJ 800 1.718 Totsl èxpenditure 9,739,528 3,1SO 9,742,6TB 9,521.424 Ilèt in¢omo 449,570 42,164 622 492,356 441.856 Tax on profil on trading a￿vItieS Remeasurem&nt of pènslon delk Fund transfèr 13,550} 172 9,794 13.5501 172 13,144) 1,173 16 17 19.7941 N•t mgv•ment in funds Fund balancos brou9hl forwaid ?1 1 September 2020 455,986 32.370 622 488,978 439,685 13.421,938 290,103 243,243 13.9S5,284 13.S15,599 Fund balances carrigd fo￿ard 8t 31 August 2021 17 13,877,924 322,473 243.885 14,44£262 13.955.284 Anawls of the pwiou$ y8&r by fvnd is 8ummarised in note 26. l incoming r&$our¢e$ an¢J ￿$OUrceS gxp$nded are derived from continuing activities. All gains and losses re￿niSed in the year are included above. There is no material difference between the net incoming resources forthe financial year stated above and their historical costs &quivalgnls. Endowment fund8 are held for income generation and the 9ovemors do not hav8 th* powor lo $wnd the c8pitsI. 17- HYMERS COLLEGE BALANCE SHEETS- 31 August 2021 Group 2021 Group 2020 Charity 2021 Charity 2020 Not• Flxed assets Tangible assets Investments 10 12,551,361 12.323,619 10,667,297 1,179.743 10,703,171 1,179,743 12 Total fixod ass•ts 12,551,361 12,323.619 11,847,040 11,882,914 Currgnt assets Stocks 71,527 293,128 3,382,071 95,001 170,465 3,180,657 40,S14 1,113A06 3,296,093 38,181 811,672 2,959,918 DebtoryJ Cash at bank and in hand 13 Total current assets 3,746,726 3.446,123 4,450,013 3.809,771 Creditors- amounts falling due within one year 14 {1,724,597) 11,650,043> 11,727,178) 11,591,201) Net curr•nt a$sots 2,022.129 1,796,080 2,722,835 2,218,570 Total asgots less Current Ilabllltles Provision for pension deficit 14,573.490 1129.2281 14.119,699 {164,4151 14,569,875 1129,2281 14,101,484 1164,4151 Total ngt •$$ets 22 14,444,262 13,955,284 14W.647 13,937,069 The funds of the charity: Unre8trlcted Incomo funds Restrlct•d funds Other restricted funds Centenary & J Hymers Bursary Funds Other funds Endowment funds Permanent Endowment fund 17,21 E G Mallalieu Bursary fund 17,19 17 13,877,924 13,421,938 13,874,309 13,403,723 17 55,000 138,262 129,211 55,000 105,610 129,493 55,000 55,000 105,610 129,493 17,18 17,20 138,262 129.211 243,865 243,243 243,865 243,243 Total charlty funds 17 14,444,262 13,955.284 14,440,647 13,937.069 The financial statements on pages 17 to 54 were approved by the Board of the Corporate trustee on . 2022 and were signed on their behalf by.. J M V Redman On behalf of the Iruslee Hymers College Trustee Limited 18- HYMERS COLLEGE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2021 2021 2021 2020 2020 Note Net cash Inflow from 0￿ratIng actlvltl•$ Cash flows from Invostlng actlvitio$ Interest from invesbnènts 968,769 1,051,422 1.175 6,132 Purchase of tangible fixed assets (768.5301 {380,856) Net cash outtlow from Investing activities (767.3551 1374.724) Cash Infiow 201.414 676,698 Net fvnds at 1 September 2020 3.180.657 2,503,959 Not funds al 31 August 2021 3,382,071 3,180,657 19- HYMERS COLLEGE NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2021 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES 2021 2020 Net incoming resources 488.978 439,685 Depreciation 540,788 627,037 L05s on disposal of tangible fixed assets 1,029,766 1,066,722 Interest receivable 11,1751 (6,1321 Unwinding of dlscounted pension provision 800 1,718 Pension dèficit payment in year {35,815} (34,7721 Decrea5ellincrea$&l in pension liability {1721 1,173 Oecreasel(increase in st¢xks 23,474 {25,787} (In¢rea$elldecrea9e in debtor8 1122,663} 160,377 Tax paid 11,860} 7.317 Increase1{de¢￿asel in C￿ltorS 76,414 1119.194) Nel cash inflow from operats'ng aGlivilies 968.769 1.051,422 ANALYSIS OF CASH AND CASH EQUIVALENTS At31 August 2020 At 31 August 2021 Cash fbws Cash - final temi deposits I90.￿0 9,499 200,459 Cash - general accounts 2,517,C60 148,378 2,665,438 CenlenarylJH Bursary Funds 105,610 32,651 138,261 E G Mallalieu Bursary Fund cash 243,243 622 243,865 Other Funds cash 123,784 10.264 134,048 3.180,657 201.414 3,382,071 20- HYMERS COLLEGE CHARITY CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2021 2021 2021 2020 2020 Note Net cash inflow from operatlng ictivltles Cash flows from Inves￿n9 activltles Interest from Investments 818,382 1.040,844 1.175 6,452 Purchase of langible flxed assets (483,3821 {380,856) N•t ¢ash outtlow from Inv08ting activities (482,2071 1374.404) Cash infiow 336,175 666,440 Net funds at 1 September 2020 2,959,918 2,293,478 Not funds at 31 Augu8t 2021 3,296,093 2,959,918 21 HYMERS COLLEGE NOTES TO THE cHAR￿y CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2021 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES 2021 2020 Nel incoming rgsources 503,580 442,046 Depreciation 519,256 605,618 Loss on disposal of tangible fixed a55ets Reversal of impairment 11,058 1,022,836 1,058,722 Interest receivable {1,1751 {6.452) Unwinding of discounted pension provision Pension def￿rt payment in year 800 1,718 (35,8151 {34,772} (Decreasellincrease in pension liability {1721 1,173 {In¢reaselldecrease in stocks 12,3331 4,705 {Dec￿ase￿incre8$è in debtors IncreaselldeGreasel in creditOTS {301,735} 142,862 135,976 1127.112) Net cash inflow from operating activities 818,382 1,040.844 ANALYSIS OF CASH AND CASH EQUIVALENTS At 31 August 2020 At 31 August 2021 Cash flows Cash- final term deposits 190,960 9.499 200,459 Cash - general accounts 2,296.321 283,138 2,579,459 CentenarylJH Bursary Funds 105,610 32,651 138,261 E G Mallalieu Bursary Fund cash 243,243 622 243,865 Other Funds cash 123,784 10,265 134,049 2,959,918 336,175 3,296,093 -22- HYMERS COLLEGE PRINCIPAL ACCOUNTING POLICIES Genornl Informatlon Hymeis College Chanlable Trust is registered with the Charity Commission in England and Wales under the registered number 529820. The address of the Charity's Regislered Office and principal place of business is Shown on page 2. statem•nl of compliance The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the fi'nancial ststements are set out below. These poliGies have been consistently applied lo all the years presented, unless otherwise stated. The Charity ha5 adopted FRS 102 and the Charities SORP FRS 102 in these financial ststements. Ba818 of ac¢ounting The finar￿la1 statements have been prepared on the going concern basis, under the histoncal cost convention modified for the revaluation of certain fixed assets at fair value and in accordance with Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to ¢harities preparing their financial ststem6nls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leflective 1 January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities kt 2011. A summary of the principal accounting F)01￿les, which have been applied consislenlly, is set out below. The Charity constitutes a public beneff( entity as defined by FRS 102. The financial slalements are prepared in sterling, which is the fun¢tlonal currency of the Charity. Ba$1$ of Gonsolidation The Group financial statemen15 consolidate the financial statements of HymerB College and its subsidiary undertakings as listed in note 12, excluding all Intra￿rOUp transactions and balances, from the dale of acqui$ilion or formation and uniform a¢countin9 pOI￿leS are adopted across the Group. Golng Con¢•m In order to prepare the financial statements on the going concem basis, the governors have completed detailed financial projections wh￿h lake acGounl of normal operating conditions and known vanable factors which have affected the forecast in the past. However, the impact of the global pandemic, UK Government's response and socioeconomic factors are making business forecasting very challenging, resulting in 5everdl possible financial outcomes. In reswnse to these challenges the governors have decided to evaluate a range of financial outcomes lo enable them lo ¢onfimi the charity has suffiGient resourGes to Continue as a going concem, bul we acknowledge that it is impossible to pred￿t the bnger4erm irnpaot of the Pandem￿ on revenue. Pupil numbers detsrmine the operatiThJ surplus and Ga5h flow of the College so that funding for essential infrastructure work to maintsin the qualty of the education we can provide Can be fundod. Tangible ftxed assets and accumulated depreclatlon Tangible fixed assets are stated al historic purchase c05t less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable lo bringing the asset to its working condition for rts intended use. The Gost of tangible fixed assets is written off over thgir expected usefvl lives as folk)ws: Freehold land Freehold propeity Freehold property Sports fa¢ilib'es Musical instruments Fumishings and equipment Vehicles Computer equipment 2.5% (Brick Buildingl- straight line 6 5% (Olherl and 10%- stsaighl line 10'h- straight line 10'A- Straight line 100Jo_ straight line 20'A- straight line 33.3•k straight line Assets wf(h a eost below £500 are not capitalised. Impalrment of Fixed Agsetg We have reviewed the carying value of our fixed assets following the economic impact of the global pandemic and concluded that there is no requirement currenuy to make any write down to our property assets or any other assets, all of which are used in delivering the education provided by the College. -23- HYMERS COLLEGE PRINCIPAL ACCOUNTING POLICIES {CONTINUEDI Inveslment Pro￿rtIeS Investment properties (including properties held under a finance lease) are inbtially measured al cost and subsequenUy measured al fair value. Changes in fair valve are recognised in the slalemenl of financial activities. stocks Strks are valued at the lower of cost and nel realisable value. Debtors Trade debtors and other debtors a￿ recognised at the settlement amount due after any trade discount. Opgr•ting l•a6es All operating leases are charged to the profft and kJSS account on a straight4ine basi5 over the period of the lease. Pensions Teaching staff are membgrs of thg Teachers, Pension Scheme (England and Wales) and Support staff are members of The Pension's TNSI Growth Plan. Contributions are charged to the Statement of Financial Aclivrties in the period in which they a￿ payable. Where a ¢ontribution is reqLsired towards a reported deficit, the lolal contribution, where the cost cannot be avoided, is recognised in the Ststement of Financial Aclivib'es al a discounted rate. See note 23 for further detsils. Foxed asset inve3tments Investments in subsidiary undertakings are stated at cost and written down to their realisable value if tt is considered that there has been an impaiment in their value. Investment Income Income is included in the Stalementof Financial Activib'es on thefollowing basis.. UK dividends and fixed interest stocks when the income due is declared as being payable. Bank and short-term deposit interest is accrued up lo the accourrting dale. Gifted assets, donations •nd1ogaci•s Assets gited to Hymers College are caprtalised at a reasonable esliTnat8 of th8ir fair value and included a5 3 donation in the Statement of Financial Activities. Donations and bequests are recognised when the charity has entrtlement lo the funds, it is probable the income will be received. and the amount can be measured reliably. Grants rK8ivabl8 Major grants received towards the c051 of acquiring fixed a55ets a￿ included in resthcted income and transfers made to unre$tri￿ed fvnds as the asset is depre¢ialed. Feos and similar income Fees Teceivable and charges for se￿￿eS, catering and use of premises are accounted for in the period in which the service is provided. Fees receivable are staled after deducting allowance5, bursarie5 and other remissions granted by the school. Fees re￿iVed in advance are shown as deferred income. Expendlture All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed lo particular heajings, they have been allocated lo activities on a basis consistent with the use of the resources. Govomancg costs Govemance costs include expenditure on adrninistralion of the Chanty and Complian￿ with consts'tutsonal and statutory requirements, including audit and legal fees. lirecoverable VAT The charity, Hymers College is not ￿gIStered for VAT and claims the educational exemption. The charity s 5ubsidiarie5 are registered for VAT and any irrecoverable VAT is charged to the Statement of Financial Actwrties or capitalised as part of the cost of the related asset, as appiopriate. -24- HYMERS COLLEGE PRINCIPAL ACCOUNTING POLICIES {CONTINUEDI Flnal tomi deposits Final 18m deposits are deposits plac&J when pupils join the sGhool, which are offset against fees and disbur5emenls due for the last lem Ihateach pupil attends. All deposits are treated as deferred income. Parents also pay a deposit for use of pupil transport from outlying areas. Recognltlon of liabilitlos Liabilities are rec¢￿nISed when an obligation arises lo transfer ec{Y￿Mie benefits as a resultof past transactions orevents. Cash and ¢ash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, where applicable, are sh¢)wn within borrowings in ¢urrenl Ikgbiljties. Provisions Provisions are ￿cOgniSed when the Group has a present legal or constructive obl￿atIon as a result of past events", rt is probable that an ouffiow of resources will be required to settle the obligation., and the amount ofthe obligation can be estimated relrably. Where there ai8 a number of similar obligations, the likeliho¢)d that an ouffiow will be required in 5ethement is detemiined by considering the Class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations might be small. Flnanclal Ingtrumonts Financi818ssets Basic financial assets. including trade and other debtors. cash and bank balances and investments in commercial paper, are re¢agnised at tranSaCt￿n pnce. If an asset is impaired the impaimenl loss is the difference b&￿en the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The irnpaimient loss ts recognised in income or expenditure. Such assets are subsequently carried at fair valu& and the changes in fair value are recognised in profft or Ios5, except that investments in equity instruments that are not publicly traded and whose fair values cannot be meaSU￿d reliably are measured at cost less impalm*nt. Financial assets are derecognised when.. lal the contractual rights to the cash flows from the asset expire or are setued, or Ibl substantialty all the risks and rewards of the ownership of the asset are transferred to another paty or {cl despite having retained some significant risks and rewards of ownership. control of the asset has been transferred to another party who has the practical ability lo unilaterally s&ll the asset to an unrelaled third party without imposing additN)nal restrictions. Financi81 118bilit￿S Basic financial liabilities, including trade and other payables are recognised al tr8nsactk)n price. Trade creditors are obligation8 lo pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabilities. Trade ¢redilors are recognised al transaction price. -25- HYMERS COLLEGE PRINCIPAL ACCOUNTING POLICIES ICONTINUEDI Flnancial instruments Icontinuedl Financial liabilities are dere¢ognised when the liability 1$ extinguished, that is when the contractual obligation is discharged, Gancelled or expires. Rol•tod party transactions The Group discloses transactions with related parties which are not wholly owned within the same Group. Where appropria18. transactions of a similar nature are aggregated unless. in the opinion of the directors, separate disclosure is necèssary to understand the effect of the transactions on the Group financial stslements. Fund accounting Unreslri¢ted Funds.. are those funds available for use at the discretion of the govemors in fvrtherance of the general objectives of the charity and which have not been designated for other purposes. Designated Funds.. comprise Unreslricted Funds that have been set aside by the Govemors for specific purposes. Restrlcted Funds.. are funds that are to be used in accordance with specific restrictions. Investment income and gains are allocated to the appropriate fund. Pemianent Endowrnent Fund.. holds assels which generate income which is applied to meet the charitable objectives of the College. There is no power to convert the assets held in this capitsl fund into income. Linked Charlty.. Hymers College is the reporting charity for E G Mallalieu 8ur5ary Fund, a separate charity. which was linked by Order of the Commission in 2006 for administration and accounting purposes. The financial statements disclose the endowed assets of thi5 separate charity by note and its activities are disclosed in the SOFA. Detsils of how the linked charity provides public benefrt is explained in the Trustees. Report. crftical judgements and estlm•tes Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of fvlure events that are believed to be reasonable under the circumstances. The following critical judgement and key accounting estimates have been made. P6nslons There are two penslon schemes in operation for employees of Hymers College. The c05t of these benefits and the present value of the obligation depend on a number of factors. including,. life expectancy, salary increases, asset valuats'ons and the discount rate on corporate bonds. Management estimates these factors in determining the net pension obligation in the balance sheet. The assumptions reflect historical experience and current trends. -26- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Augu8t 2021 NEf INCOME FOR THE YEAR 2021 2020 Net income is stated after charging amounts payable to the auditors (including irrecoverable VATI in respect of.. Group and Charlty Audit services - Hymers College - Teachers Pension Scheme 27,000 19,200 1,440 1,800 Taxation compliance and advisory services Group 10,242 25.044 Loss on disposal of fixed assets Depreciation 540,788 627,037 Impalment of trade debtors 60,335 60,539 Impaiment of inventory Other operating lease rentals 14,574} 88 29,797 32,200 DONATIONS AND LEGACIES 2021 2020 Donations 94,481 128.009 Included within the above are restricted donations of £44.775 {2020 - restncted donations of £89,273). OTHER TRADING ACTIVITIES 2021 2020 S¢hool shop 114,874 79,625 Hire of premises and facilities 38,778 32.254 Feed-in-Tariff 17,997 18,767 Corporate lettings income Other income 6.558 5.963 3.928 282 182,133 136,891 Other trading activrties are all unrestricted in both current and prior years. -27- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 EMPLOYEES 2021 2020 Group Wages and salarK8s Social security costs 5,348,357 5,241,341 526.744 511,555 Other Fension costs 983,413 976,592 6,858,514 6.729,488 2021 2020 Charity Wages and salaries 5,34D,165 5,232.935 Social $e¢unly costs 526,458 511,340 Other pension costs 982.840 976,040 6,849,463 6.720,315 The monthly average number of staff employed during the year was 18212020.'180) which includes 89 {2020'.851 part trme Staff. The monthly average TrUM￿r of staff analysed by function is as follows.. 2021 Number 2020 Number Avorago monthly number of personnel Teaching staff Administration 105 106 20 17 Technicians 16 16 Welfare Grounds and maintenance cteaning and catering Sportg Centre 19 19 11 182 180 No govèrnor received emoluments In the year or in the preceding year. Governor indemnity insurance is included in a blanket liability policy. Expenses amountlng to £nil were reimbursed in the year. -28- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI EMPLOYEES (CONTINUED) 2021 2020 Th• numb•r of •mployee8 who received emoluments in èxcèss of £60,000 were: £60.000 £70,OCN) £70.001 £80,0 £80,001 £9J,000 £90.001 - £100.000 £100.000- £120,000 £120.000- £140,000 Aggregate pension costs for these staff amounted lo £169,115 {2020.' £109.881). Key management includes members of senior management. The compensadon paid or payable to key managemenl for employee services is shown below.. 2021 2020 Total key management personnel remuneratson 150,012 133.393 -29- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 {CONTINUEDI S. TUITION AND ASSOCIATED INCOPAE 2021 2020 Gross fees from parents or guardians (Incl. Music Regislrationl Less.. total bursaries. grants and allowances 10,637,747 10,221,077 11.191.300) 11.093,8111 9,446.447 9,127,266 Ca18ring income 233.500 264,412 Coronavirus Job Retents'on Scheme grant 60.382 138,091 Grants received 13.301 21,961 Nel tees 9,753,630 9,551,730 In addition lo the above, £1.786 of trips and HFR exams were funded by the use of restricted funds. The Governors are pleased to record their appreciation for support provided by the EG Mallalieu Bursary Fund linked charity, and James Reckttt Trust towards the fees of remission holders. There was a total of 115 students12020.. 1131 who received remission of fees in full or in part. Of these. £1,147.127 related to means tested bursaries12020.. £1,072,525). 2021 2020 Ancillary trading Income Examination fees and other income 47,545 49.071 NCS income 155,291 90.181 202,836 139,252 30- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEOI 6. TAX ON PROFIT ON TRADING ACTlVtriES 2021 2020 M8jor components of tax expense Current tax.. UK current t8x expense Adjustrnents in respe¢l of prior periods 3,550 3,144 Tax on profrt 3,550 3.144 Reeoneiliation of tax expens• The tax assessed on the profil on ordinary activities in the subsidiary compani85 for the year and the previous year is higher than the stsndard rate of corporats'on tax in the UK of 190h12020.' 19%). 2021 2020 Profit on trading activib'es by rate of tax Adjustment to tax charge in respect of prior periods Effect of capital allowances and d•pre¢iation Utilisation of losses Impact on other tax adjustments 94 246 3,456 3,427 {5291 Tax on profil on trading activities 3.550 3,144 31 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 7. EXPENDITURE Staff costs other costs Depreciation Governance and fair and 8UPPOrt value cost adjustment allocation 2021 2020 Fundraising 25,355 25,355 19,761 Trading costs 9,051 197,259 206,310 160,599 Costs of gonoratlng funds 9,051 222,614 231,665 180.360 Tuition 5,876,856 695.481 537,430 7.109.767 7,025,747 Welfare including catering 48,575 356,183 33,098 437,856 423,252 Premises and equipment Remi55ion, scholarships and cost5 Govemance and support cost allocabon (see note 81 426,513 845,151 540,788 148,206 1.960,658 1,885,974 1,786 1,932 4,373 497,519 221.361 1718,880) Tuition and ass0¢ial•d costs 6,849,463 2,119,962 540,788 9,510,213 9,339,346 L05s on disposal of fixed assets Pénsion deficit costs (see notes 16,23} 800 800 1,718 Other c08t8 800 800 1,718 Total Gosts 6,858,514 2.343.376 540.788 9,742,678 9,521,424 Support costs, primarily representing the costs of the Finance and Operations department, relate to the principal charitable activity. 32- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 7. EXPENDITURE IcoMfiNUEDI other costs compris• 2021 2020 Subsidiary companies costs of sales Pension defiGit- interest payable 163.505 59,146 800 1,718 Educational costs 437,610 496,182 IT costs 177,819 138,623 Welfare- medical Costs 26.438 19,686 Catering - food and running ¢osl$ 378,320 373,550 Cleaning Rates and water 65,414 42,330 86,389 91,330 Insuran¢e 57,814 58,048 Heating and lighting Repairs and maintenance 262,516 269.713 376,254 319,160 Security Remission scheme and examinats'on fees 27,081 29,718 5,000 8,598 Marketing and prospectus Governance and support costs 25,354 19,760 220,561 227,463 NCS expenses 32,501 9,874 2,343,376 2,164,899 -33- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI . GOVERNANCE AND SUPPORT COSTS 2021 2020 Audit services Financial advice and accountsncy Legal fee5 and claim Professional fees Other mi$eellaneou5 expenses Printing and stationery Bank charges Administrative stsff costs Govemance staff costs Telephone Other marketing Insurance 27.000 11,682 18.244 17,844 23,176 3,864 7,226 471,725 25,794 26,590 48,115 37,620 21,000 25,044 59,808 12,517 5,406 7,466 408,856 22,671 26,956 34,469 34,797 718.880 658,990 Apportlonment of govoman¢g •nd support costs The Charity initially identifies the costs of its support fUn¢t￿nS. It then identifies thosè costs which relate to Ihe govemance ftjnction. Having identified its govemance costs, the remaining support costs together with the governance costs are apportioned between th8 key charitable activities (see note 71 in the year, Governance and support costs have been allocated lo the hvo key charitable activities in proportion to the total ¢osts of those charitable activities. Govemance Support 2021 2020 Audit s?rviGes Financial advice and accountancy Legal fees and ¢laim Professional fees Other miscellaneous expenses Pfinting and stat￿nery Bank charges Administrative staff costs Govemance staff costs Telephone Other marketing Insurance 27,000 27,000 21,000 11,682 11,682 25.044 18.244 17,844 2.469 18,244 17,844 23,176 3,864 7.226 471,725 25.794 26,590 48,115 37,620 59,808 20,707 3.864 7,226 471.725 12,517 5,406 7,466 408,856 22.671 26,956 34,469 34,797 25,794 26,590 48,115 37,620 103,033 615,847 718,880 658,990 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 20211CONTINUEDI 9. TAXATION The Charity is registe￿d wilh the Charity Commission and as such is entitled to certain tax exemptions on income and gain5 from inveslmenls, and surpluses on any trading acb'vities carried on in furtherance of the Charity's primary objects'ves, if these surpluses are applied solely for charitable purposes. The Charity is not VAT registered. 10. TANGIBLE FIXED ASSETS Freehold investment propety College site and buildings. plant and machinery Fumishings, equipment and vehicles Group Total Costlvaluallon 1 September 2020 Additions 290.000 19,952,762 255,130 2,663,204 513,400 22.905,966 768,530 31 August 2021 2SO,000 20,207,892 3,176,604 23,674.496 Accumulated depreclatlon 1 September 2020 Charge in year 8.205,481 405,183 2,376,866 135,605 10,582,347 540.788 31 Augu8t 2021 8.610.864 2,512,471 11.123,135 N•1 book value 31 August 2021 290.000 11.597,228 664,133 12,551,361 31 August 2020 290.000 11,747,281 286,338 12,323,619 The Charity had capital commitments of £23,592 {2020.' £nil) as at the year end. 35- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 10. TANGIBLE FIXED ASSETS {CONTINUEDI Freehold investment property College site and buildings. plant and machinery Furnishings, equipment and vehicles Charlty Total Co$tfvaluatlon 1 September 2020 Additions 290,000 17,515,634 255,129 2,651,068 228,253 20,456,702 483,382 31 August 2021 290,000 17.770,763 2,879,321 20,940,084 Accumulated depreclatlon 1 September 2020 Charge in year 7,386,931 383,765 2,366,600 135,491 9,753,531 519,256 31 August 2021 7,770,696 2,502,091 10,272,787 Ngt book valuo 31 August 2021 290,000 10,000,067 377,230 10,667,297 31 August 2020 290,000 10,128,703 284,468 10,703,171 The freehold investment property wa$ donated to the Charrty in September 2014 and yts value at that time was £300,000. The propety wa$ subsequently revalued by an independent firm of Chartered SuNeyors on 12 October 2018. In their opinion, the fair value is now £290,000 on the basis that the property is freehokl, withoLrt incumbencies and subject to occupational tenancies. The Governors do not believe the value of the investment propety is materially different as at 31 August 2021. Tangible assets hèld at valuation In relation lo the tangible assets held at valuation. the aggregate cost. depreciation and comparabl& carrying amount that would have been recognised If the assets had been carried under the historical cost model are as follows.. Freehold investment property At 31 Augu8t 2021 Aggregate cost Aggregate depreciab'on 300.000 Carrylng value 300,000 At 31 August 2020 Aggregate cost Aggregate deprèeiab'on 300,000 Carrying value 300,000 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 11. OPERATING LEASE COMMITMENTS The Group leases 2 {2020.' 2} vehicles and 8 {2020'.101 photO¢op￿r$ under non-can¢ellable operatin9 lease agreements. The lease temis are for 5 years. The total future minimum lease payments due are as follows- Group 2021 2020 Payable within 1 year Payable later than 1 year, less than 5 years 20.147 894 26,410 21,218 Charity 2021 2020 Payable within 1 year Payable laler than 1 year, less than 5 years 10.724 10,724 11,618 12. INVESTMENT8 Charity Investments in subsidiary undertakings 31 August 2021 and 2020 1,757,999 Provision 1 Septembgr 2020 Reversal of impairment 578,256 31 August 2021 578,256 Net book amount 31 August 2021 1,179,743 Net book amount 31 August 2020 1.179,743 37- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI 12. INVESTMENTS IcoKfiNUEDI The subsidiary undertakings of the Charity are.. Country of registration Company number Proportion of shares Prlnclpal activlty The College Enterprises (Hull) Limiled The School Shop (Hull) Limited England 02583012 100¢kn Property letting Supply of school uniforms England 02349803 1000 Botsnic Sidings Limited England 03796732 100% Sports facilities All the subsidiaries provide facilities or goods in connectK>n with the Charity's activities. The Governors believe that the carrying value of the investrnents Iwhlch relates predominately to Botanic Siding5 Limited) 15 SUPPOrted by their underlylng net assets. The trading results and nel assets, as extracted from the audiled financial slatemenls, are summarised below. ILoss)I Profll Aggregate assets Aggregate Income Expenditure Nel assets Botanic Sidings Limited 43,961 170,8141 {26.853} 1.360,364 1207,474) 1,152.890 The College Enterprises (Hull) Limited 41,000 139,9121 1,088 616,126 1611.893) 4.233 The School Shop (Hull) Limited 210,214 {199,0491 11,165 120,558 {94,3251 26.233 2021 295,175 (309,7751 {14,600} 2.097,048 1913.692) 1,183.356 2020 244,412 {257,8321 113,420} 1.943,550 1745,5941 1, 197,956 The School Shop (Hull) Limited made a glft ald donation to the Charity of £nil12020'. £6,757}. -38- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Augu8* 2021 ICONTINUEDI 13. DEBTORS Group 2021 Group 2020 Charity 2021 Charity 2020 Duè within one year Trade debtors Amounts owed by group undertakings other debtors P￿p¥yrnents and accrued income 65,041 2,88S 62,486 828.877 7,500 214,543 2,791 650,070 9.883 148.928 8.154 219,933 13,969 153.611 293.128 170,465 1.113,406 811,672 14. CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2021 Group 2020 Charity 2021 Charity 2020 Trade creditors Amounts owed to group undertakings Taxation and social security Accruals Deferred income Other CTedilors 190,126 245,460 153,257 43,467 248.C68 499,671 556,679 226.036 179.330 20,799 238,890 373.458 550,274 228,450 222,899 528,857 556,679 226,036 243,083 378,09S 554.954 228,450 1,724.597 1.650,043 1,727,178 1,591,201 -39- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 15. FINANCIAL INSTRUMENTS The group has the following financial instruments.. Financial as5et8 that are dobt instruments measured at amortised ¢08t Trade debtors Amounts owed by group undertakings Other debtors Group 2021 Group 2020 Charity 2021 Charity 2020 5,041 2,885 62,486 2,791 828,877 650,070 8,154 13.969 7,500 9,883 73,195 16,854 898,863 662,744 Flnanclal Ilatsilities that 4r• debt instruments measured at amortised cost Trade creditors Amounts owed to group undertakings Accruals other creditors Group 2021 Group 2020 Charity 2021 Charity 2020 190,126 245,460 153,257 179,330 43,467 20,799 528,857 226,036 378,096 228,450 499,671 226,036 373,458 228,450 945,019 852,006 922,431 802,037 There are no fi'nancial instruments measur&J at fair value. -40- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 16. PROVISION FOR LIABILITIES AND CHARGES The provision in respect of the pension deficit relates io both the Group and th8 Charity, which has been explained within note 23. Provision in respect of pension deficit reducb'on 2021 Provision in respect of pension deficit reduction 2020 1 September 2020 Increase in the year Unwinding of discount Payment made in year 164,415 11721 800 135,8151 196,296 1,173 1,718 134,772} 31 August 2021 129,228 164,415 17. FUNDS Group Fund8 Unrestrlct8d Income funds 1 September 2020 Income Expenditure. gains, losses and transfers 13.421.938 10.189.098 (9,733,112) 31 August 2021 13,877,924 Group Fund8 Unrestrlcted income funds 1 September 2019 Income Expenditure, gains, losses and transfers 13,051,847 9.867.730 19,497,639) 31 August 2020 13,421.938 -41 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 17. FUNDS (CONTINUED) Group Funds Reslrl¢ted Incomo Other Restricted funds Centenary &JH Bursary Funds Mallalleu Bursary Fund Other Endowment funds fund Total 1 September 2020 243,243 55,000 105,610 129,493 533.346 In¢orne 622 34,438 10,876 45.936 Expenditure, gains, 105ses and Iransferg (1,7861 11,3641 {3,150) Transfer of utilised resources 19,7941 19,7941 31 August 2021 243,865 55,000 138,262 129,211 566,338 UnreslriGted income funds 13,877,924 Restricted income funds (including linked charity) 566,338 Total funds 14.444,262 Other ￿$tricted funds include £55.000 received in the prior year, allocated to a new organ, and landscaping work. -42- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 17. FUNDS (CONTINUED Group Funds Restri¢tsd income Other Restricted funds Centenary &JH Bursary Funds Mallalieu Bursary Fund Other Endowment fund5 fund Totsl 1 September 2019 239,780 96.719 127,253 463.752 Income 3,463 55,000 13,358 23.529 95,350 Expenditure, gains, losses and transfers Transfer of utilised resources {4,4671 1900} 15.367) {20,389} 120,389) 31 August 2020 243,243 55,000 105,610 129,493 533,346 Unrestricted income funds 13,421,938 Restri￿ed income funds (including linked charity) 533.346 T¢)tal funds 13,955,284 -43- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI 17. FUNDS ICONTINUEDI Charity Funds un￿stricted income funds 1 September 2020 Income 13,403,723 10,116,552 (9,645,966) Expenditure, gains, losses and transfers 31 August 2021 13,874,309 ChaTIty Fund$ Unrestricted income fvnd 1 September 2019 Income resources Expenditure, gains. lossgs and transfers 13,031,271 9,649,200 19,276.7481 31 August 2020 13,403,723 Charlty Funds Restrlcted Income other Restricted funds Centenary &JH Bursary Funds Mallalieu Bursary Fund other Endowment fvnds fund Total 1 Seplember 2020 243,243 55,01)0 105.610 129,493 533,346 Income 622 34,438 10,876 45,936 Expenditure. gains, ¢sses and transfers 11,786) 11.364) 13,150) Transfer of utilised resources 19,794) 19,7941 31 August 2021 243,865 55.000 138,262 129,211 568,338 Unrestricted income funds 13,874,309 R8Stricted income funds (including linked charity) 566,338 Total funds 14.440,647 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 {CONTINUEDI 17. FUNDS {CONTINUED) Charity Fund8 Restrl¢t•d incomo Other Restricted funds Centenary &JH Bursary Funds Mallalieu Bursary Fund Other Endowment funds fund Total 1 September 2019 239.780 96,719 127.253 463,752 Income 3,463 55,000 13,358 23,529 95.350 Expenditure, gains, losses and transfers Transfer of utilised resources 14,4671 19001 15,367) 120,389) 120,389) 31 August 2020 243,243 55,000 105.610 129,493 533,346 Unrestricted income funds Reslrieted income funds (including linked charity) 13,403,723 533,346 Total funds 13,937,069 There is no requirement lo include the Charity's Statement of Financial Activities within these fi'nancial statements. The Colbge's gross income for the year was £10,116,55212020-. £9.593,1911. The net income and increase in funds for the year was £503,57812020'. £442,046). -45- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 20211CONTINUED} 18. CENTENARY AND JOHN HYMERS BURSARY FUNDS Group and Charity 2021 2020 1 Seplember 202012019 Bequests, donations and accrued interest Bursaries given during year 105,610 34,438 {1,786> 96,719 13,358 14,4671 31 August 202112020 138,262 105,610 The Centenary Bursary Fund was set up to provide bursaries al the discretion of the Headmaster. It consists of restricted funds donated for the purpose. The John HyTners Bursary Fund was launched to provide future support ft)r assisted pupils. 19. LINKED CHARITY: E G MALLALIEU BURSARY FUND Group and Charlty Bursary. Scholarship Funds Prop8rty Fund 2021 2020 1 Septemter 202012019 Interest Bursaries given during year 46,150 175 197,093 447 243,243 239,780 3,463 31 August 202112020 46,325 197,540 243,865 243.243 The EG Mallalieu Bursary Fund is a separate ¢harity regisler8d in 2006 and linked to Hymers College by the Charity Commission for administration and accounting purposes. Therefore, the assets of the charity are reported in these accounts, but separately identified. The purpose of the charity is lo advance the education of persons who are disadvantaged by reason of their social and economic circumstan¢es by giving financial assistance for such persons to attend the School. The Howard-mallalieu Scholarship Fund, a suiFfund, wa5 established to assist such pupils moving to university education. The caprtal ofthe E G Mallalieu Bursary Fund 15 held as a permanent endowment and the Income produced from this will be used to provide bursaries by the trustee, Hymers College Trustee Limited. This fund is reported as an asset of Hymers College because the charities have the same trustee and the financial ¢ontTibulion the college receives from bursaries towards its ¢haritable purpose. -46- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 {CONTINUEDI OTHER FUNDS Group and Charity Development donations Lovell Fund Prize Funds 2021 2020 1 September 202012019 Donation, grft aid and interest Cost 123,784 5,709 129,493 127.253 9.794 470 612 10,876 23,529 11.364} {1,3641 {900} Transfer of utllised resources 19,7941 19.7g41 (20,3891 31 August 202112020 124.254 4,957 129,211 129,493 The Lovell Fund ha$ been established in memory of Peter Lovell for the purpose of creakn'ng scholarships al the discretion of the Governors. The development donations have been given towards the future development of the premises of the Charity and Include receipts from the Hymers Campaign launched in October 2013. During the year single 2nd recurring gifts were received some gift-aided. The enti￿ fund has been ulilised on charttable objecb'ves and the appropriat8 transfer made to unrestricted income funds. 21. ENDOWMENT FUND The Pemianenl Endowment Fund comprise5 a gift of endowment of land and buildings extending to 8.43 he¢tare5 Sltualed lo the south of Sunny Bank and the wesl of Hymers Avenue. No value has been ascribed to this fund due to its historical nature. There is no power vested to the Governots to convert the capital. made up of land and building5 into ineorne. ANALYSIS OF NET ASSETS BETWEEN FUNDS The net assets are held for the various funds as follows.. Net current assetsl Group 31 August 2021 Fixed asset Tangible fixed investments assets Long term Llabilities Total Restricted funds 566,338 566,338 Unreslricled funds 12,551,361 1,455,791 14,007.152 Pension deficit 1129,2281 1129,2281 Endowment fund 12.551.361 2,022,129 1129,228) 14,444,262 -47- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 {CONTINUEDI 22. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) Net current assetsl Iliabilrties) Charlty 31 August 2021 Fixed asset investments Tangible fixed as5et5 Long term LiabilitEs Total Restricted funds 566,338 566,338 Unrestricted funds Provisions including Pension deficit Endowment fvnd 1,179,743 10,667,297 2,156,497 14,003,537 1129,2281 1129,228) 1,179,743 10.667,297 2,722,835 1129,228) 14.440.647 Group 31 August 2020 Flxed asset Tangible fixed investrments assets Net current Long term assetsl Totsl Restricted funds 533.346 533,346 Unrestricted funds 12,323.619 1,262,734 13,586,353 Pension deficit {164,4151 164,4151 Endowment fund 12,323.619 1,796.080 1164,415} 13.955,284 Net current asselsl Charity 31 August 2020 Fixed asset investments Tangible fixed assets Long tem Liabilitie$ Tolal Restricted funds 533,346 533.348 Unrestricted funds 1,179.743 10,703,171 1,685.224 13,568,138 Provisions including Pension deficit 1164,415> 1164.415) Endowment fund 1.179,743 10.703,171 2.218.570 1164,4151 13.937.069 -48- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 23. PENSIONS There are two pension schemes in operation for employee$ of Hymers College. These are The Pensions Trust Growth PL8n for support stsff and the Teachers, Pension Scheme for teaching staff. The total pension cost to the Charity for the year was £983.41312020.' £972,722). Both schemes are multi-employer schemes. It is not possible for thè Charity to obtain sufficient informats'on to enable it to aGcounl for the schemes as defined benefit schemes. Therefore, it accounts for the schemes as defined contribution schemes in line with paragraph 17.18 of the Charib'es SORP 2019 IFRS 102). The Ponsions Trust Growth Plan The Charrty participates in the scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December2005. This, togetherwilh documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a'last-man stsnding arrangemenv. Therefore, the Charity is potenlially liable for other participating employers, obligations if th05e employers are unable to meet their share of the scheme efieil following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September2017. This valuation showed assets cf £794.9m, liabiltties of £926.4m and a defiGil of £131.5m. To eliminate this funding shortfall, the trustee has asked the participating employers to pay additional contributions lo the scheme as follows.. DefI￿t contribut￿nS From 1 April 2019 to 31 January 2025.. £11,243,000 per annum (payable monthly and in¢￿asing by 3% each year on 1 April). The recovery plan contributions are allocated to each participating employer in lin8 with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in defi¢it and where the ¢harity has agreed to a deficit funding arrangement the charity Tecognises a liability for this obligats'on. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detsiled in these disclosures. The unwinding of the discount rate is recognised as a finance cost. Pr&sent values ofpmvisions 31 August 2021 31 August 2020 31 August 2019 129,228 164,417 196,296 -49- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 23. PENSIONS (CONTINUED) The Penslons Trust Growth Plan (continued Assumptions The diswunt rate used wa$ 0.63¢￿ 12020.. 0.550h) and is the equivalent single discount rate which, when used to discount the fvture recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The followng sohedule delails the def￿1t contributions agreed bel￿een the Charity and thè scheme at each year end period.. Year ending 31 August 2021 £0005 37 31 August 2020 £OOOs 36 31 August 2019 £OOOs 35 Year 1 Year 2 38 39 17 37 Year 3 38 39 17 37 Year 4 38 Year 5 39 17 Year 6 Year 7 Year 8 Year 9 Year 10 The Charity must recognise a liability measured as the present value of the contributions payable that arise from th8 deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rale as a finance cost In the period in whiGh il arises. 11 is these contributons that have been used to derive the Charity's balance sheet liability. Contributions are made at the followng rates.. Employe• Employ•r Automatic Enrolment Opted in Auiomatyc Enrolment Opted out 5°/0 3% 10.10 As at the balance sheet dale there were 5112020.. 581 active members of the Growth Plan in Series 4 of the Plan, of whom 12 {2020.' 211 are members of the minimum contribution scheme. This series carries no form of capital guarantee and is still regarded as a defined eontributs'on schème. Future support staff appointments will also be enrolled into this series. The￿ are 1212020.. 121 members and a number of deferred members or pensioners also have inveslmenls in previous series. and rt is these previous contributions lo which this fvrther liability attaches. All expense and liability 15 allocated to unrestricted funds. -50- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI PENSIONS {CONTINUED Tea¢hors' Pen81on Schème The TPS is an unfijnded mulliomployer defined b8nefits pension scheme governed by The Teachers. Pensions Regulations 2010 las amended} and The Teachers, Pension Schème Regulations 2014 las amended). Members contribute on a 'pay as you go. basis with contributions from members 2nd the employer being credited lo the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is sel by the Secretsry of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuatton of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirned that the employer contribution rate for the TPS would increase from 16.40k to 23.60/0 from 1 September 2019. Employers are also required lo pay a scheme adminislrats'on levy of 0.080kn giving a total employer contribution rate of 23.68°h. The 31 March 2016 Valuation Report was prepaod in accordance with the benefits sel out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However. the assumptions were considered and sel by the Department for Education prior lo the ruling in the 'McCloudlSargeant case,. Thi5 case has required the courts to consider case5 regarding the implementslion of the 2015 refomis to Public Service Pensions including the Teachers, Pensions. On 27 June 2019 the Supreme Court denied the government permission lo appeal the Court of Appeal's judgment that transitional provisions introduced lo the refomied pension s¢hemes in 2015 gave rise to unlawful age discrimination. The govemmenl is respecting the Court's decision and has said il will engage fully with the Employment Tribunal as well as employer and member representatives lo agree how the discriminations will be remedied. The government announced on 4 February 2021 that il intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the penod be￿een 1 April 2015 and 31 March 2022 al the point they become payable. The TPS is subject to a cost cap mechanism which was pul in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary lo the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the Mccloudlsargeant case and until there is certainty about the value of pensions lo employees from April 2015 onwards. The pause was lifted in July 2020, and consultation was launchèd on 24 June on proposed changes lo the cost control mechanisrn following a review by the Government Actuary. The consultation olosed to response on 19 August 2021 and the Govemment Is currently analysing the responses. In V￿ of the above ruling5 and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared In accordan￿ with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. Until the Consultation and the cost Gap mechanism review are completed it is not possible lo conclude on any financial impact or future changes lo the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements. The charity also contributes to tsvo group personal pension plans for support staff, the costs of which are also charged directly to the statement of financial aclivib'es. 51 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 ICONTINUEDI RELATED PARTIES In the year 4 Governors12020.' 31 and 5 people ￿th significance influence12020'. 41 over the Charity had children enrolled at the college al the date of the financial statements. The fees charged in Tespect of their education aTe at the normal, am's length rates. No governors received payment from the Charity except in reimbursement of allowable expenses12020.' £175}. Due to the natu￿ of the Charity's oper8bons and the composition of the Board of Govemors {being drawn from lo¢al public and private sector organisalionsl transactions May occasionally tske place with oryanisations in which a member of the Board of Govemors may have an interest. All such transactions involving organisations in which a member of the Board of Governors may have an interest are conducted at ami's length and in accordance wrth the Charity's financial regulations and normal proGurement procedures. Transactions be￿een the Charity and its subsidiaries during the year are as follows.. 2021 2020 Income.. Salary recharge- The S¢hool Shop {Hulll Limited Interesl receivable- The School Shop {Hulll Limited Interest receivable- The College Enterprises (Hull) Limited Ground rent- The College Enterprises {Hull) Limited Repairs and maintenance recharge- Botanic Siding5 Limited Management charges - Botanic Sidings Limited 8,435 320 8.039 320 38,151 1,000 5,497 17,832 38,046 1,000 17.832 Expenditure Office costs- The School Shop (Hull) Limited Rent- The S¢hool Shop IHulll Limrted Facilities hire - Botsnic Siding5 Limited Rent- Botani¢ Sidings Limited 54,342 41,000 38,152 551 48,032 41,000 33,921 551 Intra*roup balances befvleen the Charity and its subsidraries al the year end are as follows.. 2021 2020 Amounts owed by group undertakings.. The School Shop IHulll Limited The College Enterprises (Hull) Llmited BolaniG Sidings Limited 40,692 606,046 182,139 43,450 S96,665 9,955 828,877 650,070 Included in the amount owed by The School Shop IHulll Limited is a loan balance of £32,00012020'. £32,000) which 1$ subject to interest at a rate of 1 OA per annum. Included within the amount owed by The College Enterprises IHulll Limited is a loan balance of £580,050 12020 £580,050) that bore interest a16.50/o per annum, whi¢h was repayable on or after 31 July 2015 and is secured on the assets of the Subsidiary undertaking. Included in the amount owed by Botanic Siding5 Limited is a loan of £174,000 which is subject to interest at a rate of 2.$0/o per annum. -52- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021 {CONTINUEDI RELATED PARTIES (CONTINUED) 2021 2020 Amounts ow8d lo group undertakings.. The School Shop IHull} Limited Botsnic Sidings Limited 43,302 165 20,634 165 43,467 20,799 25. POST BALANCE SHEET EVENTS Subsequent to the year-end the decision was taken to expand the College's offering through the acquisitKin of Hessle Mount, a local school covering pre-school and earty years education. This arrangement is expected to complele over Summer 2022. 53- HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEmEP￿s FOR THE YEAR ENDED 31 August 2021 (CONTINUED) 26. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Vnreslricl8d Fund Restrthd Fund5 Endo%wnent FUTh InGune 2020 Donation$ 8nd18gach 38,736 89,273 128.009 Other trading aclK¥rtvas 136,891 136,891 Investrnent In¢om8 55 2.614 3.463 6.132 Charitsblè ad1vit￿8.. TUit￿n and a55fKi•teQ income 9,551,730 9,551.730 Ancillary trading income 139.252 139.252 Other IncomirvJ restsur¢es 1.086 1,066 Total Incom• 9.867,730 91,887 3,483 9,963,080 ExpendltUTe Roi$lng funds.. Fundraoing 19,761 19,761 Trwjing ¢OSt olgoods sold 160,599 160,S99 Ch8ritablg a¢tivit￿$.. Turt￿ft and )¥¥ocialed ￿t$ 9,333,979 5,387 9,339.346 Other Pension deficrt reduction costs intere$t 16 1.718 1,718 Los8 on dlsposal OffiX￿ asset Totsl oxpenditur• 9.516.057 5,367 9,521,424 N8t Incom• 351.673 86,520 3.463 441,656 Tax on profit on lTrdin9 actkns {3,1441 13,1441 R•measurern8nl of Pension Deficrt 16 1,173 1,173 Net m¢)¥em•nt In f￿d5 349,702 86.520 3,463 439,685 Fund balances brought lorbyard at 1 SePt￿ber 2019 13,051.847 223,972 239.780 13,515.599 RecL955th'cation ol propertyfund Bthd d8¥8loprnenl fun 20,389 (20,3891 Fund balan￿$ ¢orrl8d forward at 31 Augusi 2020 17 13,421.938 2￿.103 243,243 13,955,284 54-