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2022-08-31-accounts

HYMERS COLLEGE

ANNUAL REPORT FOR THE YEAR ENDED

31 AUGUST 2022

Registered Charity Number 529820

HYMERS COLLEGE

ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Index Page
________________
Trustee, Governors, Officers and Advisers 1-2
The Report of the Trustee (including Strategic Report) 3-13
Independent Auditors’ Report to the Board of the Trustee of Hymers College 14-16
Consolidated statement of financial activities (incorporating an income & expenditure account) 17
Balance sheets 18
Consolidated cash flow statement 19
Notes to the consolidated cash flow statement 20
Principal accounting policies 21-24
Notes to the consolidated financial statements 25-52

HYMERS COLLEGE

TRUSTEE, GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022

Trustee / Governors

Hymers College Trustee Limited is the sole corporate trustee of Hymers College (the Charity). Directors of the Board of Hymers College Trustee Limited are defined as Governors and act on behalf of the trustee, as a Body, under that company’s Articles of Association and the Charity`s Governance document. The names of those who were in office during the year and unless otherwise noted up to the date of signing the financial statements were as follows.

Mr J M V Redman (Chairman from 01/01/2019) Mr M P Astell (Vice Chairman from 01/01/2019) Mrs S Anwar West (resigned 27 April 2023) Mr P A B Beecroft Professor P G Burgess Mr A Chicken Mr J F Connolly Mr D A Gibbons Mrs G A Greendale (resigned 31 December 2022) Mr M C S Hall Mr J G Leafe Mrs E A Maliakal Mr C M Read (resigned 31 August 2022) Mr D U Rosinke Mrs N Shipley Mrs G V Vickerman Mr J R Wheldon Mrs E A Wilson

This is a complete list of the Board of directors of Hymers College Trustee Limited, company number 05193649, the trustee of Hymers College, Charity No. 529820, during the year ended 31 August 2022.

Reference to the title governor(s) also means director(s) of the Corporate Trustee throughout this report and financial statements.

Core Senior Leadership Team Mr J P Stanley Headmaster Mr P C Doyle Head of Junior School Mrs H Jackson Deputy Head (Pastoral) Mrs K F Walker Director of Finance (until 31 January 2023) Mr R P Wright Deputy Head (Management)

Governing Documents

Charity Commission 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 2004), and Amendments dated 6 February 2008, 12 March 2012 and 29 March 2019.

Charitable Status

Hymers College is an unincorporated registered Charity.

The charity’s trustee was incorporated with 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 2022 (CONTINUED)

Registered Office

Hymers College 83 Hymers Avenue Hull East Yorkshire HU3 1LL

Independent Auditors

Saffery Champness LLP Mitre House North Park Road Harrogate North Yorkshire HG1 5RX

Bankers

National Westminster Bank plc PO Box 944 34 King Edward Street Hull East Yorkshire HU1 3YN

Solicitors

Rollits LLP Citadel House 58 High Street Hull HU1 1QE

Insurance Brokers

Aon Risk Services Limited 3 The Embankment Sovereign Street Leeds West Yorkshire LS1 4BJ

Memberships and Affiliations

The Headmaster is a member of the Headmasters’ and Mistresses’ Conference (HMC) and the Association of School and College Leaders (ASCL). The school is a member of the Association of Governing Bodies of Independent Schools (AGBIS) and the Independent Schools’ Bursars Association (ISBA). It is affiliated to the Independent Schools’ Council (ISC).

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 August 2022

The Board of Directors of the sole corporate trustee, Hymers College Trustee Limited present their report and audited consolidated financial statements for the year ended 31 August 2022.

Structure, Governance 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 management of the school is delegated to the Headmaster supported by the senior leadership team.

The structure and membership of the Governors’ Committees and working parties are subject to ongoing review to ensure that they are fit for purpose. Currently, there are 18 Governors. All Governors are co-opted and serve for renewable periods of not more than 5 years. Below the Board of Governors there are now the following standing committees:

There are written terms of reference for all committees which are reviewed annually.

The Board of Governors review and approve recommendations of the minutes of standing Committees.

In addition, several Governors have delegated responsibilities to liaise with school staff and report through the relevant standing Committees 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 continuation training are made available to all Governors through the Association of Governing Bodies of Independent Schools (AGBIS). New Governors are provided with the opportunity to attend meetings of any of the committees in their first year to familiarise 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 2022 (CONTINUED)

Achievements and Review of the Year

The strong performance of Hymers College throughout the Covid-19 pandemic and the continuing high regard in which the School is held in the region led to an exceptionally healthy pupil roll throughout the academic year. The average roll of 976 across Years 4-13 was either equal to or above that at any time over the last twenty years and therefore at any time in the School’s history.

Perhaps more than ever demand is evident among parents of school-age children for the “life-changing education of all-round excellence with a strong academic thread” that is articulated in the School’s Strategic Plan. Hymers continues to make significant capital investment to provide the best possible educational facilities for our pupils. In 2021-22 some of the more significant areas in which investment was made across the Hymers campus was in site security and IT infrastructure as part of the School’s one-to-one digital device strategy.

The decision was taken during the academic year to offer for the first time in the School’s history a Hymers education to pupils from the age of 3, with the acquisition of our associate school Hessle Mount. This is a reflection of both strong parental demand for an all-through, 3-18 Hymers education for their children and the ambition of the Senior Leadership Team and Governing Board to ensure that the School remains at the forefront of independent education of the highest quality in the years ahead. Throughout 2021-22 preparations were made to open a two-form Year 3 cohort on the Hymers campus for the first time and to offer Pre-Prep education at Hymers Hessle Mount from September 2022.

At the same time the School continued to offer its trademark education of high academic standards and outstanding co-curricular opportunities, set against the backdrop of a nurturing pastoral care network. In academia, one of our Sixth Form students achieved a Gold award in the Cambridge Chemistry Challenge run by the Royal Society of Chemistry. Another student went one distinction further by gaining a Roentgenium award, coming in the top 0.71% of the entry to this elite competition, a quite remarkable achievement. Outside the classroom, pupils continued to excel, both as teams and individuals, in a wide range of sports. A Hymers netballer was named Player of the Tournament in a prestigious regional competition at both U14 and U16 level, while our Senior 7s rugby squad made it through to the second day of the national Rosslyn Park tournament. The summer term saw a thriving cricket programme for all pupils, with Hymers girls enjoying competitive fixtures against other schools for the first time and the U12 boys’ squad winning the Yorkshire Cup. In order to provide co-curricular opportunities for a greater number of pupils, Senior School pupils enjoyed taking part in a wide range of competitions as the House system was reintroduced to the School after a period of approximately 40 years. In the Performing Arts pupils of all ages excelled, with particular highlights being the Junior School production of Aladdin, the performances of the Year 6 Choir at the Eisteddfod in Llangollen and the Barnado’s Choir of the Year competition, and the Senior School production of Les Misérables which was described by many seasoned observers as the best school drama they had ever seen.

The summer term saw Hymers receive two marks of distinction from external organisations. The visit of a team from the Independent Schools Inspectorate resulted in the School being awarded the top grade of ‘Excellent’ for both elements of the Educational Quality Inspection: (1) Pupils’ academic and other achievements and (2) Pupils’ personal development. The final Inspection report was interwoven with a multitude of outstandingly positive compliments about the school, its pupils and staff, bearing testament to the successful realisation of the all-round excellence to which Hymers aspires.

The academic year closed with students from Hymers winning a prestigious national award that demonstrates that the School remains true to the charitable purpose of our founder, the Revd John Hymers. Having won the regional round of the Goldsmiths’ Company Award for Community Engagement, a Hymers NCS team (National Citizen Service) was invited to travel to Goldsmiths’ Hall, London to showcase their work in the national final, taking on the best of the regional finalists. On account of the breadth and depth of the commitment of our students and staff to supporting local not-for-profit organisations in the city of Hull and the surrounding area, the Hymers team were proud winners of this prestigious national prize for outstanding community engagement.

The school continues to provide its pupils with substantial opportunities for leadership. In the Junior School the Year 6 Leadership Club oversaw the community’s excellent fundraising efforts, while in the Senior School the prefect team was run by an expanded team of 13 Senior Prefects. Alongside the School Council, this body play a vital role in decision-making within the school, as well as serving as superb role models for

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

Achievements and Review of the Year (continued)

younger pupils. A further 50 students have the role of Form Prefect, in which they attend some of the form periods of younger classes in the school and support the Tutor in pastoral care and the delivery of Personal, Social, Health and Economic Education (PSHE) lessons. 65 students have been trained to be ‘Buddies’ in a system where older students can support younger ones with any specific difficulties they are experiencing.

The summer of 2022 saw a return to external examinations for the first time since 2019, albeit with a limited amount of pre-released information provided by examination boards about topics covered in papers. Results in the A Level examinations were very strong: 20% of all grades were A, 52% were A/A and 77% were A*B (compared to 16%, 38% and 66% respectively in 2019). In part, the grades achieved were a result of the positioning of grade boundaries to redress the national ‘over-grading’ that took place under the 2020 (Teacher-Assessed Grades) and 2021 (Centre-Assessed Grades) models. It was pleasing that the results positioned Hymers as the highest performing school in Hull and the East Riding and compared against other local independent schools.

At GCSE, 25% of all grades were a 9, 42% were a 9-8 (equivalent to the old A*) and 60% were grade 9-7 (equivalent to the old A). These were lower than in the last comparable examined year, 2019, where the equivalent rates were 25%, 47% and 63% respectively. However, the small decline was not unexpected – the year group did not participate in the co-curricular life of the school with as much gusto or cohesion as they do typically and this extended into learning-related characteristics. There were some particular successes at pupil and subject level, most notably 4 students who achieved a clean sweep of 10 grade 9s and the average grade in IGCSE English Language being 7.5.

Students at Hymers continue to take pride in the school’s history and its position in the local community. In 2022, this included the introduction of the Reverend John Hymers Award, a recognition of students’ commitment to participation in the co-curricular life of the school and contribution to the wider community.

Senior School

Christmas Food Collection

This annual event involved the whole school community donating food for families and charities in the local area who are in desperate need. Some of the donations were passed on to other charitable organisations, including the Hull Churches Housing Association. Many of our Sixth Form students spent the day distributing food parcels directly to needy families identified by these organisations.

Volunteering by our Sixth Form Students

The Primary School Mentoring project has been running for ten years. Year 12 students visited Thoresby and Pearson Primary schools over a period of 20 weeks to help improve the English and reading skills of their pupils. The school is proud to host the annual Rotary Disability Games. Organised by the Rotary Club in the Humber area, the Games provide an opportunity for individuals with a disability (aged from 9) to participate and compete in a range of events from archery to wheelchair racing. This year, 36 students acted as guides and assisted with the running of the events, which involved approximately 200 competitors.

Community Service Days

Community Service Days are an annual event held during the Summer Term. This year, all students in Years 7, 10 and 12 were involved. They provided a total of 1872 hours of service to eight different organisations across the City. The projects included:

Hull for Heroes – Students worked on the Hull for Heroes allotment to help establish the newly acquired site. The allotment will provide a space to help ex-servicemen and women improve mental health and reduce loneliness.

Dove House Hospice – 30 students helped to sort and categorise hundreds of bags of items donated to the charity’s network of local shops.

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HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2022 (CONTINUED)

Achievements and Review of the Year (continued)

Hull Vineyard – Students carried out garden maintenance and cleaning up activities. They also sorted baby clothes and toys donated to the Church’s scheme that helps poor and vulnerable mothers in the local area.

Junior School

In October 2021, Harvest Festival donations were made to Hull Food Bank, Hull4Heroes and Hull Churches Home from Hospital Service.

In December 2021, Junior School pupils took part in Christmas Jumper Day in aid of Save the Children raising £210.

The Year 6 Leadership Club held a fantastic Charity afternoon in the spring of 2022 in aid of the Unicef UK Ukrainian Appeal raising over £2100. Events included sponge the teacher, a novelty mile and making the Ukrainian flag out of coins.

Junior School pupils reached out to the Old Hymerian community to help some of our older members feel more connected and valued in these times of restriction and isolation. They took great care writing letters, describing their own school experience and asking how this differed from the Old Hymerian’s education in the past. The children were excited to receive many wonderful and moving replies.

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 to advance 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 objective, 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 committed to this objective in their management of the Hymers Fee Remission Scheme.

We gratefully acknowledge the continuing support of The Sir James Reckitt Charity, through its contributions to the Scheme. During the year, the Bursary Scheme provided financial assistance to 115 pupils from lower income families.

Financial support for 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. In September 2020, a Development Office was established with the primary purpose of raising further funds to support bursaries (the Hymers Fee Remission Scheme) and donations continue to be received. The Development Team’s additional brief is to bring together the alumni and past and present parents and staff into a supportive community. The aim is to promote the Old Hymerians Association while enhancing the lives and education of the current students. In 2021-22, funds of c.£190k (prior to Gift Aid) were received through the Development Office. Financial support is means-tested and the fairest way of making grants to ensure access to the school, regardless of income, is available to the widest possible socio-demographic mix of children.

Strategic Intents and Future Plans for Development

Our strategic vision for the continuing development of Hymers College as a centre of educational excellence requires a focus on student centred 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 facilities must be ongoing.

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

The school continues to use any surplus that it makes (1) to offer fee assistance to support the education of pupils who would otherwise not be able to afford a Hymers education and (2) to invest in the education of its pupils. The school has continued to update its facilities in 2022 by refurbishing classrooms, purchasing Chromebooks for all pupils in Years 7-11 as part of the school’s digital strategy and entirely refurbishing the main building at Hymers Hessle Mount

Public Benefit

Our strategy aims to meet several broad objectives; by continuing to provide significant educational benefit to the community, not only by awarding Hymers Fee Remission grants to enable academically able children from low income families to attend the school, but by implementing programmes, events and letting our facilities in broad support of education and practical wellbeing projects to local people and community groups. School staff and pupils regularly engage with the wider community 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 Kingston-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. This is achieved in three main ways:

  1. Through financial contributions to families who would otherwise be unable to afford a Hymers College education;

  2. By students volunteering in the local community;

  3. By offering outstanding facilities for use by the local community.

• Financial Assistance

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 calculate that Hymers College saves the UK Exchequer a substantial sum of money by eliminating the cost of providing education for those children.

The school devotes around 11% of its income to bursaries to enable academically talented children from low-income backgrounds to 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 remain at the school.

• Charitable Contributions

Each year the school makes a significant contribution to local charities. This year the school’s two official charities (Abbie’s Fund and Hull Sisters) have directly benefitted from ongoing fund raising, each receiving £1,906.

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2022 (CONTINUED)

• National Citizen Service

Hymers College remains the only independent school in the country that acts as a service provider for the National Citizen Service (NCS). Hymers College delivers a range of NCS programmes across the Hull and East Riding to bring about effective change in communities, supporting young people to flourish and thrive in society. We do this through delivering projects focussing on physical activity, mental health, enterprise, social action, citizenship and training. Our programmes are designed to promote diversity and inclusion to provide opportunities to support all young people within society and are developed in consultation with youth groups to ensure a youth led approach, addressing the needs of young people within their local areas.

In 2022, Hymers NCS had its best performance to date with over 311 young people completing the programme. These young people gave 9,330 volunteering hours back into our community, working with over 12 different charities and raising over £5,000. The value of the time given back into the community in terms of people hours worked out at over £57,000 (calculated at national working wage).

Throughout the year NCS continued to build on relationships within the community. This saw Hymers build on links with Linkage College’s Pupil Referral Unit and Kelvin Hall School. Both schools had bespoke NCS programmes tailored to suit their students’ needs.

Hymers NCS also built on our community engagement 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 school help a community group redecorate the communal areas at a train station and design a mural for a second local train station. The school’s NCS local action group engaged in activities to help raise awareness of the ongoing issue of unwanted sexual behaviour in public places. Another programme has seen Hymers NCS continue its support for Welcome House - a local charity supporting asylum seekers and refugees.

Principal Risks and Uncertainties

We regularly review the school’s principal areas of operations and consider the organisational risks it might face. The Board will continue 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 market conditions. The principal risks include, but are not restricted to:

We regularly undertake a detailed review of the financial risks we face which are proactively monitored on a regular basis, and our assessment of the possible financial impact of those risks will be incorporated into the calculation of the reserves.

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2022 (CONTINUED)

Group

Hymers College is the parent charity of a group which comprises three wholly owned subsidiaries, Botanic Sidings Limited (co. no. 3796732), The School Shop (Hull) Limited (co. no. 2349803) and The College Enterprises (Hull) Limited (co. no. 2583012). Each subsidiary is a trading company set up to deliver the charitable objectives of Hymers College.

The School Shop (Hull) Limited: Provides a retail shop for school apparel to pupils to ensure that pupils can feel a sense of belonging and community. The retail shop ceased trading in May 2022 and was replaced by an external online retailer. See note 12 for a summary of results.

The College Enterprises (Hull) Limited: Owns the freehold title to the Theatre building which it leases 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 sports facilities including an all-weather pitch and playing fields. See Note 12 for a summary of results.

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.

To ensure that there is no significant disruption to our charitable activities, holding an appropriate level of reserves 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.

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 2022, the School held £288k of free reserves, ie funds which the School could spend on any of its charitable purposes, excluding tangible fixed assets. 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.

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2022 (CONTINUED)

The free reserves have reduced compared to the prior year due to the planned use of liquid resources to purchase the Hymers Hessle Mount site, and the school plans to replenish free reserves in the coming years.

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.

Pension Liabilities

The College is a member of the TeachersPension Scheme which carries an overall fund deficit. Because we carry a proportion of the funds liability with other members of the scheme the assets and liabilities of this defined benefits scheme are excluded from the reserves calculation as they are not expected to lead to any short or medium-term cash outflow which is not already included in budgeted spending and net cash inflows. This is consistent with the Charity Commission guidance.

Endowed Assets

The assets held in a Permanent Endowment Fund are used to generate income which is applied to meet the charitable objectives of the College.

The fund is 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 during the year from the expendable endowment fund to the restricted fund to be applied for bursaries.

Risk Management

In our opinion, Hymers College has established robust policies and procedures to address key risks and monitor performance, aware of changes in risk, including personnel vetting systems, which under normal conditions will allow general and specific risks in its day to day operations to be mitigated to an acceptable level. A key purpose of the Corporate Trustee is to provide a layer of protection to persons acting as Governors, so that we can reduce their personal liability under normal circumstances to attract the very best governors with the widest range of professional skills and experience.

HYMERS COLLEGE

THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (CONTINUED)

Financial Review

We take the view that, in order to support the Headmaster in providing excellent academic, cultural, pastoral and sporting education opportunities for its pupils, Hymers College must operate on sound business principles, with an efficient organisational structure which can respond quickly to opportunities 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 reserves can support the school’s educational programme.

The Board of Governors` operates a responsible financial strategy based on projected revenue, reserves and educational need and will only approve plans for expenditure presented by its Committees after an appropriate level of due diligence and corporate governance. Budget reports are presented every term to the Finance and Property 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 £11,311,831 (2021: £10,235,034).

Going Concern

We draw attention to the Statement of Comprehensive Income which reports a surplus of £185,095 and Statement of financial position which shows net assets of £14,629,357. As stated in the Accounting Policies, Going Concern and Impairment of Fixed Assets, there is no material uncertainty about the College being able to continue as a going concern.

Our Finance Committee has established key performance indicators which they monitor regularly. Cash flow management remains an important factor in determining the financial health of the College and therefore we regularly adjust our financial plans based on the available cash resource, and our senior management continue to revise the business plan when necessary, to adapt to changing circumstances.

Voluntary Support

We gratefully acknowledge the hours of voluntary work undertaken by parents and other supporters of Hymers College to assist the school in delivering core education services, and to raise funds. Hymers College Association and the Old Hymerians Association provide invaluable support and we are grateful for all of their contribution. In addition, several individual parents assist with school activities both on and offsite and we are grateful to them all for their involvement.

Fundraising

Members of the College’s staff and student body organise various fundraising events and co-ordinate a variety of activities both within the school and the wider community to raise funds for an array of charitable cases 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 2022 (CONTINUED)

Statement of Trustees Responsibilities in relation to the Financial Statements

The directors as a Board, set out on page 1, (on behalf of the sole corporate trustee, Hymers College Trustee Limited) are responsible for preparing the Report of the Trustee and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state 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:

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible 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.

Governors’ Indemnities

As permitted by the Articles of Association of the corporate trustee, Hymers College Trustee Limited, the governors have the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The Charity also purchased and maintained throughout the financial year Trustees’ and Officers’ liability insurance in respect of itself and its Governors.

Reporting of Serious Incidents

The Governors confirm that any matters of concern that have arisen during the year which would require notification to the Charity Commissioners have been notified.

Investment Policy

The Governors 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 still providing a prudent spread of risk. The return obtained on cash deposits is satisfactory for the year.

These Funds include donations by benefactors for specific restricted purposes and the assets of a separate and legally distinct 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, its assets are 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 education of children who are disadvantaged by reason of their social and economic circumstances by giving financial assistance for such children to attend the school. The Howard-Mallalieu Scholarship Fund makes grants to pupils from low income families who go to university and read for a degree in Chemistry, Engineering, Mathematics or Physics.

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HYMERS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE

Opinion

We have audited the financial statements of Hymers College (the ‘parent charity’) and its subsidiaries (the 'group') for the year ended 31 August 2022 which comprise Consolidated Statement of Financial Activities (incorporating an Income and Expenditure Accounts), the Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information 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 otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

HYMERS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE

Matters on which we are required to Report by Exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustee

As explained more fully in the Trustees’ Responsibilities Statement set out on page 12, the trustees are responsible for the preparation of the financial statements 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 statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters 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 but to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements 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 below.

Identifying and assessing risks related to irregularities: We assessed the susceptibility of the group and parent charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives 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 discussions 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 context of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Reports) 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.

HYMERS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE

Audit response to 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 including a review of financial statement disclosures. We reviewed the parent charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charity’s policies and procedures for compliance with laws and regulations 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-compliance with laws and regulations 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 addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk 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 website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of Our Report

This report is made solely to the parent charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charity trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to 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.

Saffery Champness LLP

Chartered Accountants Mitre House North Park Road Harrogate North Yorkshire HG1 5RX Statutory Auditors

Date: 29 June 2023

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

HYMERS COLLEGE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2022

Unrestricted Restricted Endowment 2022
Income Note Funds Funds Fund Total 2021
£ £ £ £ £
Donations and legacies 2 50,307 131,053 - 181,360 94,481
Other trading activities 3 138,389 - - 138,389 182,133
Investment income 3,209 44 - 3,253 1,175
Charitable activities:
- Tuition and associated income 5 10,757,165 13,000 - 10,770,165 9,753,630
- Ancillary trading income 5 215,704 - - 215,704 202,836
- Other incoming resources 2,960 - - 2,960 779
__ __ __ __ __
Total income 11,167,734 144,097
 - 11,311,831 10,235,034
Expenditure
Raising funds:
-
Fundraising		 7 120,971 - - 120,971 25,355
-
Trading cost of goods sold		 7 160,099 - - 160,099 206,310
Charitable activities:
-
Tuition and associated
costs		 7 10,802,914 46,658 - 10,849,572 9,510,213
Other
-
Pension deficit reduction
costs – interest		 7,16 733 - - 733 800
__ __ __ __ __
Total expenditure 7 11,084,717 46,658 - 11,131,375 9,742,678
__ __ __ __ __
Net income 83,017 97,439 - 180,456 492,356
Tax on profit on trading activities 6 3,550 - - 3,550 (3,550)
Remeasurement of pension deficit 16 1,089 - - 1,089 172
Fund transfer 17 - 79,287 (79,287) - -
__ __ __ __ __
Net movement in funds 87,656 176,726 (79,287) 185,095 488,978
Fund balances brought forward at
1 September 2021		 13,877,924 322,473 243,865 14,444,262 13,955,284
___ __ __ ___ ___
Fund balances carried forward
at 31 August 2022 17 13,965,580 499,199 164,578 14,629,357 14,444,262

Analysis of the previous year by fund is summarised in note 26.

All incoming resources and resources expended are derived from continuing activities. All gains and losses recognised in the year are included above.

There is no material difference between the net incoming resources for the financial year stated above and their historical costs equivalents. Permanent endowment funds are held for income generation and the governors do not have the power to spend the capital.

HYMERS COLLEGE BALANCE SHEETS- 31 August 2022 Group 2022 Group 2021 Chorlly 2022 harity 2021 Note Flxod ass•ts Tanglble assets Investments 10 13,678,039 12,551.361 11.872.075 1.179.743 10,667,297 1,179,743 12 Toill fIx￿ aggetg 13,878.039 12,551,361 13,051,818 11,847,040 Curr•nt ••s•ti Stocks 48,601 298.022 1798,589 71,527 293,128 3,382,071 48,601 1,136,874 2,754,369 40,514 1.113.406 3,296,093 Debtors Cash ai bank and In hand Tol•l ¢urront 3,146,212 3,746,726 8.939,844 4,450.013 Credllors- amounts falling dug wSihln one year 14 (1170,188) 11,724,597) {2,216.1801 11,727,1781 N•t cUrr￿t ••J•l• 978,026 2,022,129 1,723,681 2,722,835 Tot•1 a8••t• l••• curr•nt 14,654,065 124,7081 14,573.490 1129,2281 14,775,482 124,708) 14,S69.875 1129,2281 Provision lor penslon d8h¢ll 18 Tat•l n•t 8•8et8 14.629,3S7 14,444.262 14,750,774 14,440,647 The funds of the ch8rlty: Unreglrlcted Incomè fund• Rostrlclod tund4 Other restricle¢J lunds Genlenary & J Hymers Bursary Funds Other lunds Endowmenl funds Permanent Endowment fund 17,21 E G Mallalieu Bursary fund 17,19 17 13,985WO 13,877,924 14.086,997 13.874.309 139,280 358,060 3.859 55,000 138,262 129.211 139,280 356,060 3,859 55,000 138,262 129,211 17,18 17,20 164,578 243.865 164,578 243,865 Total ¢harity fund• 17 14.629.357 14,444,262 14,750.774 14,440,647 The lin ncia tgments on pages 17 10 54 were approved by the Board ol the Corporate trustee on -2023 and weie signed on thelr behalf by= J M V Redman On behalt of the trustee Hymers College Trustee Limited 18-

HYMERS COLLEGE

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2022

2022 2022 2021 2021
Note £ £ £ £
Net cash inflow from operating
activities		 A 1,152,529 968,769
Cash flows from investing
activities
Interest from investments 3,253 1,175
Purchase of tangible fixed assets (1,739,264) (768,530)
__ __
Net cash outflow from
investing activities (1,736,011) (767,355)
_ _
Cash inflow (583,482) 201,414
Net funds at 1 September 2021 3,382,071 3,180,657
__ __
Net funds at 31 August 2022 B 2,798,589 3,382,071

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2022

2022 2021
£ £
Net incoming resources 185,096 488,978
Depreciation 612,586 540,788
Loss on disposal of tangible fixed assets - -
__ __
797,682 1,029,766
Interest receivable (3,253) (1,175)
Unwinding of discounted pension provision 733 800
Pension deficit payment in year and revision to
contribution schedule		 (25,733) (35,815)
Decrease in pension liability (77,342) (172)
Decrease in stocks 22,926 23,474
(Increase) in debtors (5,894) (122,663)
Tax paid - (1,860)
Increase in creditors 443,410 76,414
__ __
Net cash inflow from operating activities 1,152,529 968,769
B
ANALYSIS OF CASH AND CASH EQUIVALENTS
At 31 August At 31 August
2021 Cash flows 2022
£ £ £
Cash – final term deposits 200,459 32,700 233,159
Cash – general accounts 2,665,438 (620,646) 2,044,792
Centenary/JH Bursary Funds 138,261 217,799 356,060
E G Mallalieu Bursary Fund cash 243,865 ( 79,287) 164,578
Other Funds cash 134,048 (134,048) -
__ __ __
3,382,071 (583,482)
 2,798,589

HYMERS COLLEGE

PRINCIPAL ACCOUNTING POLICIES

General information

Hymers College Charitable Trust is registered with the Charity Commission in England and Wales under the registered number 529820. The address of the Charity’s Registered Office and principal place of business is shown on page 2.

Statement of compliance

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Charity has adopted FRS 102 and the Charities SORP FRS 102 in these financial statements.

Basis of accounting

The financial statements have been prepared on the going concern basis, under the historical cost convention modified for the revaluation of certain fixed assets at fair value and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. A summary of the principal accounting policies, which have been applied consistently, is set out below.

The Charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity.

Basis of consolidation

The Group financial statements consolidate the financial statements of Hymers College and its subsidiary undertakings as listed in note 12, excluding all intra-group transactions and balances, from the date of acquisition or formation and uniform accounting policies are adopted across the Group.

Going Concern

In order to prepare the financial statements on the going concern basis, the governors have completed detailed financial projections which take account of normal operating conditions and known variable factors which have affected the forecast in the past. In response to these challenges the governors have decided to evaluate a range of financial outcomes to enable them to confirm the charity has sufficient resources to continue as a going concern.

Pupil numbers determine the operating surplus and cash flow of the College so that funding for essential infrastructure work to maintain the quality of the education we can provide can be funded.

Tangible fixed assets and accumulated depreciation

Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. The cost of tangible fixed assets is written off over their expected useful lives as follows:

Freehold land Nil
Freehold property 2.5% (Brick Building) – straight line
Freehold property 6.5% (Other) and 10% – straight line
Sports facilities 10% – straight line
Musical instruments 10% – straight line
Furnishings and equipment 10% – straight line
Vehicles 20% – straight line
Computer equipment 33.3% – straight line

Assets with a cost below £500 are not capitalised.

Impairment of Fixed Assets

We have reviewed the carrying value of our fixed assets following the economic impact of the global

HYMERS COLLEGE

PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

pandemic and concluded that there is no requirement currently 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

Investment properties

Investment properties (including properties held under a finance lease) are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in the statement of financial activities.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Debtors

Trade debtors and other debtors are recognised at the settlement amount due after any trade discount.

Operating leases

All operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pensions

Teaching staff are members of the Teachers’ Pension Scheme (England and Wales) and Support staff are members of The Pension’s Trust Growth Plan. Contributions are charged to the Statement of Financial Activities in the period in which they are payable. Where a contribution is required towards a reported deficit, the total contribution, where the cost cannot be avoided, is recognised in the Statement of Financial Activities at a discounted rate. See note 23 for further details.

Fixed asset investments

Investments in subsidiary undertakings are stated at cost and written down to their realisable value if it is considered that there has been an impairment in their value.

Investment income

Income is included in the Statement of Financial Activities on the following 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 to the accounting date.

Gifted assets, donations and legacies

Assets gifted to Hymers College are capitalised at a reasonable estimate of their fair value and included as a donation in the Statement of Financial Activities. Donations and bequests are recognised when the charity has entitlement to the funds, it is probable the income will be received, and the amount can be measured reliably.

Grants receivable

Major grants received towards the cost of acquiring fixed assets are included in restricted income and transfers made to unrestricted funds as the asset is depreciated.

Fees and similar income

Fees receivable and charges for services, catering and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, bursaries and other remissions granted by the school. Fees received in advance are shown as deferred income.

Expenditure

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 to particular headings, they have been allocated to activities on a basis consistent with the use of the resources.

Governance costs

Governance costs include expenditure on administration of the Charity and compliance with constitutional and statutory requirements, including audit and legal fees.

Irrecoverable VAT

The charity, Hymers College is not registered for VAT and claims the educational exemption. The charity`s

HYMERS COLLEGE

PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

subsidiaries are registered for VAT and any irrecoverable VAT is charged to the Statement of Financial Activities or capitalised as part of the cost of the related asset, as appropriate.

Final term deposits

Final term deposits are deposits placed when pupils join the school, which are offset against fees and disbursements due for the last term that each pupil attends. All deposits are treated as deferred income. Parents also pay a deposit for use of pupil transport from outlying areas.

Recognition of liabilities

Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or events.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, where applicable, are shown within borrowings in current liabilities.

Provisions

Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined 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.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are recognised at transaction price.

If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in income or expenditure.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when:

(a) the contractual rights to the cash flows from the asset expire or are settled, or

(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or

(c) 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 to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables are recognised at transaction price.

Trade creditors are obligations to 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-current liabilities. Trade creditors are recognised at transaction price.

HYMERS COLLEGE

PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

Financial instruments (continued)

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Related party transactions

The Group discloses transactions with related parties which are not wholly owned within the same Group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transactions on the Group financial statements.

Fund accounting

Unrestricted Funds: are those funds available for use at the discretion of the governors in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated Funds: comprise Unrestricted Funds that have been set aside by the Governors for specific purposes.

Restricted Funds: are funds that are to be used in accordance with specific restrictions. Investment income and gains are allocated to the appropriate fund.

Permanent Endowment Fund: holds assets 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 capital fund into income.

Linked Charity: Hymers College is the reporting charity for E G Mallalieu Bursary 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 this separate charity by note and its activities are disclosed in the SoFA. Details of how the linked charity provides public benefit is explained in the Trustees` Report.

Critical judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following critical judgement and key accounting estimates have been made.

Pensions

There are two pension schemes in operation for employees of Hymers College. The cost of these benefits and the present value of the obligation depend on a number of factors, including; life expectancy, salary increases, asset valuations 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.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022

1. NET INCOME FOR THE YEAR

Net income is stated after charging amounts payable to the
auditors (including irrecoverable VAT) in respect of:
Group and Charity
Audit services - Hymers College
- Teachers Pension Scheme
Taxation compliance and advisory services
Group
Loss on disposal of fixed assets
Depreciation
Impairment of trade debtors
Impairment of inventory
Other operating lease rentals
2.
DONATIONS AND LEGACIES
Donations
Included within the above are restricted donations of £131,053 (2021 -
3.
OTHER TRADING ACTIVITIES
School shop
Hire of premises and facilities
Feed-in-Tariff
Corporate lettings income
Other income		 2022
£
2021
£
27,000
27,000
1,440
1,440
7,500
10,242
-
-
612,586
540,788
110,000
60,335
8,129
4,574
894
29,797
2022
£
2021
£
181,360
94,481
restricted donations of £44,775
2022
£
2021
£
37,752
114,874
48,220
38,776
21,556
17,997
22,731
6,558
8,130
3,928
_
_
138,389
182,133

Included within the above are restricted donations of £131,053 (2021 - restricted donations of £44,775).

Other trading activities are all unrestricted in both current and prior years.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022

4. EMPLOYEES

Group
Wages and salaries
Social security costs
Other pension costs
Charity
Wages and salaries
Social security costs
Other pension costs		 2022
£
5,793,494
588,017
968,354
_
7,349,865

2022
£
5,792,351
587,932
968,307
_
7,348,590		 2021
£
5,348,357
526,744
983,413
__
6,858,514
2021
£
5,340,165
526,458
982,840
__
6,849,463

The monthly average number of staff employed during the year was 179 (2021: 182) which includes 97 (2021: 89) part time staff.

The monthly average number of staff analysed by function is as follows:

2022 2021
Number Number
Average monthly number of personnel
Teaching staff 101 105
Administration 22 20
Technicians 16 16
Welfare 2 2
Grounds and maintenance 8 9
Cleaning and catering 18 19
Sports Centre 12 11
__ __
179 182

No governor received emoluments in the year or in the preceding year. Governor indemnity insurance is included in a blanket liability policy. Expenses amounting to £476 were reimbursed in the year.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

4. EMPLOYEES (CONTINUED)

31/8/2022 31/8/2021
The number of employees who received
emoluments in excess of £60,000 were:
£60,000 - £70,000 2 3
£70,001 - £80,000 4 3
£80,001 - £90,000 - -
£90,001 - £100,000 - -
£100,000 - £120,000 1 1
£120,000 - £140,000 - -

Aggregate pension costs for these staff amounted to £117,208 (2021: £169,115).

Key management includes members of senior management. The compensation paid or payable to key management for employee services is shown below:

Total key management personnel remuneration 2022
£
161,639
 2021
£
150,012

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

5. TUITION AND ASSOCIATED INCOME

. TUITION AND ASSOCIATED INCOME
2022 2021
£ £
Gross fees from parents or guardians (Incl. Music
Registration)		 11,551,723 10,637,747
Less: total bursaries, grants and allowances (1,170,189) (1,191,300)
__ __
10,381,534 9,446,447
Catering income 375,631 233,500
Coronavirus Job Retention Scheme grant - 60,382
Grants received 13,000 13,301
__ __
Net fees 10,770,165
 9,753,630

The Governors are pleased to record their appreciation for support provided by the EG Mallalieu Bursary Fund a linked charity, and James Reckitt Trust towards the fees of remission holders.

There was a total of 113 students (2021: 115) who received remission of fees in full or in part. Of these, £1,160,713 related to means tested bursaries (2021: £1,147,127).

2022 2021
£ £
Ancillary trading income
Examination fees and other income 48,078 47,545
NCS income 167,626 155,291
_ _
215,704 202,836

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

6. TAX ON PROFIT ON TRADING ACTIVITIES

Major components of tax expense
Current tax:
UK current tax expense
Adjustments in respect of prior periods
Tax on profit		 2022
£
(3,550)
-
__
(3,550)
 2021
£
3,550
-
__
3,550

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities in the subsidiary companies for the year and the previous year is higher than the standard rate of corporation tax in the UK of 19% (2021: 19%).

Profit on trading activities by rate of tax
Adjustment to tax charge in respect of prior periods
Effect of capital allowances and depreciation
Utilisation of losses
Impact on other tax adjustments
Tax on profit on trading activities		 2022
£
(94)
(3,456)
-
-
-
__
(3,550)
 2021
£
94
-
3,456
-
-
__
3,550

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

7. EXPENDITURE

Fundraising
Trading costs
Costs of generating
funds
Tuition
Welfare
Premises and equipment
Remission, scholarships
and costs
Governance and support
cost allocation (see note 8)
Tuition and associated
costs
Loss on disposal of fixed
assets
Pension deficit costs (see
notes 16,23)
Other costs
Total costs		 Staff
costs
£
87,481
1,275
_
88,756

5,901,998
252,850
535,015
-
571,246
_
7,261,109

-
-
_
-
_
7,349,865		 Other
costs
Depreciation Governance
and support
cost
allocation
£
£
£
33,490
-
-
158,824
-
-
_
_
_
192,314
-
-



1,292,598
-
814,440
187,435
-
32,463
1,129,677
612,586
90,510
-
-
-
366,167
-
(937,413)
_
_
_
2,975,877
612,586
-



-
-
-
733
-
-
_
_
_
733
-
-
_
_
_
3,168,924
612,586
-		 2022
£
120,971
160,099
_
281,070

8,009,036
472,748
2,367,788
-
-
_
10,849,572

-
733
_
733
_
11,131,375		 2021
£
25,355
206,310
__
231,665
7,109,767
437,856
1,960,658
1,932
-
__
9,510,213
-
800
_
800
_
9,742,678

Support costs, primarily representing the costs of the Finance and Operations department, relate to the principal charitable activity.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

7. EXPENDITURE (CONTINUED)

Other costs comprise
Subsidiary companies costs of sales
Pension deficit – interest payable
Educational and transport costs
IT costs
Welfare – medical costs
Catering – food and running costs
Cleaning
Rates and water
Insurance
Heating and lighting
Repairs and maintenance
Security
Remission scheme and examination fees
Marketing and prospectus
Governance and support costs
NCS expenses		 2022
£
192,673
733
820,054
272,502
13,301
240,611
45,779
81,015
65,565
404,857
505,882
17,574
5,112
24,023
366,168
113,075
__
3,168,924
 2021
£
163,505
800
437,610
177,819
26,438
378,320
65,414
86,389
57,814
262,516
376,254
27,081
5,000
25,354
220,561
32,501
__
2,343,376

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

8. GOVERNANCE AND SUPPORT COSTS

Audit services
Financial advice and accountancy
Legal fees
Professional fees
Other miscellaneous expenses and supplies
Printing and stationery
Bank charges
Administrative staff costs
Governance staff costs
Telephone
Other marketing
Insurance		 2022
£
27,000
8,940
27,530
3,275
162,611
28,400
13,527
543,410
27,836
21,330
26,956
46,598
__
937,413
 2021
£
27,000
11,682
18,244
17,844
23,176
3,864
7,226
471,725
25,794
26,590
48,115
37,620
__
718,880

Apportionment of governance and support costs

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the two key charitable activities (see note 7) in the year. Governance and support costs have been allocated to the two key charitable activities in proportion to the total costs of those charitable activities.

Governance
£
Audit services
27,000
Financial advice and
accountancy
8,940
Legal fees
27,530
Professional fees
2,925
Other miscellaneous expenses
3,384
Printing and stationery
1,257
Bank charges
-
Administrative staff costs
-
Governance staff costs
27,836
Telephone
-
Other marketing
-
Insurance
-
__
98,872
 Support
£
-
-
-
350
159,227
27,142
13,527
543,410
-
21,330
26,956
46,599
__
838,541
 2022
£
27,000
8,940
27,530
3,275
162,611
28,399
13,527
543,410
27,836
21,330
26,956
46,599
__
937,413
 2021
£
27,000
11,682
18,244
17,844
23,176
3,864
7,226
471,725
25,794
26,590
48,115
37,620
__
718,880

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

9. TAXATION

The Charity is registered with the Charity Commission and as such is entitled to certain tax exemptions on income and gains from investments, and surpluses on any trading activities carried on in furtherance of the Charity’s primary objectives, if these surpluses are applied solely for charitable purposes. The Charity is not VAT registered.

10. TANGIBLE FIXED ASSETS

Freehold College site Furnishings,
investment and buildings, equipment and
Group property plant and vehicles Total
machinery
£ £ £ £
Cost/valuation
1 September 2021 290,000 20,207,892 3,176,604 23,674,496
Additions - 1,329,983 409,281 1,739,264
__ __ __ __
31 August 2022 290,000
 21,537,875
 3,585,885
 25,413,760
Accumulated depreciation
1 September 2021 - 8,610,664 2,512,471 11,123,135
Charge in year - 461,112 151,474 612,586
__ __ __ __
31 August 2022 -
 9,071,776
 2,663,945
 11,735,721
Net book value
31 August 2022 290,000
 12,466,099
 921,940
 13,678,039
31 August 2021 290,000 11,597,228 664,133 12,551,361

The Charity had capital commitments of £nil (2021: £23,592) as at the year end.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

10. TANGIBLE FIXED ASSETS (CONTINUED)

Freehold College site Furnishings,
Charity investment and buildings, equipment and
property plant and vehicles Total
machinery
£ £ £ £
Cost/valuation
1 September 2021 290,000 17,770,763 2,879,321 20,940,084
Additions - 1,329,983 409,281 1,739,264
__ __ __ __
31 August 2022 290,000
 19,100,746
 3,288,602
 22,679,348
Accumulated depreciation
1 September 2021 - 7,770,696 2,502,091 10,272,787
Charge in year - 383,012 151,474 534,486
__ __ __ __
31 August 2022 -
 8,153,708
 2,653,565
 10,807,273
Net book value
31 August 2022 290,000
 10,947,038
 635,037
 11,872,075
31 August 2021 290,000 10,000,067 377,230 10,667,297

The freehold investment property was donated to the Charity in September 2014 and its value at that time was £300,000. The property was subsequently revalued by an independent firm of Chartered Surveyors on 12 October 2018. In their opinion, the fair value is now £290,000 on the basis that the property is freehold, without incumbencies and subject to occupational tenancies. The Governors do not believe the value of the investment property is materially different as at 31 August 2022.

Tangible assets held at valuation

In relation to the tangible assets held at valuation, the aggregate cost, depreciation and comparable 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 August 2022
Aggregate cost 300,000
Aggregate depreciation -
__
Carrying value 300,000
At 31 August 2021
Aggregate cost 300,000
Aggregate depreciation -
__
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 (2021: 2) vehicles and 8 (2021:8) photocopiers under non-cancellable operating lease agreements. The lease terms are for 5 years.

The total future minimum lease payments due are as follows:

Group
Payable within 1 year
Payable later than 1 year, less than 5 years
Charity
Payable within 1 year
Payable later than 1 year, less than 5 years
12.
INVESTMENTS
Charity
Cost
31 August 2022 and 2021
Provision
1 September 2021
Reversal of impairment
31 August 2022
Net book amount 31 August 2022
Net book amount 31 August 2021		 2022
£
2021
£
894
20,147
-
894

2022
£
2021
£
894
10,724
-
894

Investments in
subsidiary
undertakings
£
1,179,743
-
-
__
-
1,179,743
1,179,743

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

12. INVESTMENTS (CONTINUED)

The subsidiary undertakings of the Charity are:

Country of Company Proportion of Principal
registration number shares activity
The College Enterprises
(Hull) Limited		 England 02583012 100% Property letting
The School Shop (Hull)
Limited		 England 02349803 100% Supply of
school uniforms
Botanic Sidings Limited England 03796732 100% Sports facilities

All the subsidiaries provide facilities or goods in connection with the Charity’s activities.

The Governors believe that the carrying value of the investments (which relates predominately to Botanic Sidings Limited) is supported by their underlying net assets. Post year end the School Shop (Hull) Limited ceased making supplies of uniform.

The trading results and net assets, as extracted from the audited financial statements, are summarised below.

Botanic Sidings Limited
The College Enterprises
(Hull) Limited
The School Shop (Hull)
Limited
2022
2021		 Income
£
Expenditure
£
60,819
(137,853)
41,000
(41,155)
132,093
(179,935)
_
_
233,912
(358,943)
295,175
(309,775)
 (Loss)/
Profit
£

(77,034)
(155)
(47,842)
__
(125,031)
(14,600)
 Aggregate
assets
£
Aggregate
liabilities
£
1,265,373
(189,517)
626,190
(622,112)
54,549
(76,158)
_
_
1,946,112
(887,787)
2,097,048
(913,692)

 Net assets
£
1,075,856
4,078
(21,609)
__
1,058,325
1,183,356

The School Shop (Hull) Limited and The College Enterprises (Hull) Limited made gift aid donations to the Charity of £14,345 (2021: £nil) and £1,952 (2021: £nil) respectively.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

13. DEBTORS

Group 2022 Group 2021 Charity 2022 Charity 2021
£ £ £ £
Due within one year
Trade debtors 52,989 65,041 51,559 62,486
Amounts owed by group undertakings - - 839,530 828,877
Other debtors 9,023 8,154 8,775 7,500
Prepayments and accrued income 237,010 219,933 237,010 214,543
__ __ __ __
299,022 293,128 1,136,874 1,113,406

14. CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

Group 2022 Group 2021 Charity 2022 Charity 2021
£ £ £ £
Trade creditors 715,698 190,126 709,582 153,257
Amounts owed to group undertakings - - 66,231 43,467
Taxation and social security 169,505 222,899 169,505 248,068
Accruals 480,091 528,857 466,779 499,671
Deferred income 429,628 556,679 429,628 556,679
Other creditors 375,264 226,036 374,455 226,036
__ __ __ __
2,170,186 1,724,597 2,216,180 1,727,178

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

15. FINANCIAL INSTRUMENTS

The group has the following financial instruments:

Financial assets that are debt
instruments measured at
amortised cost		 Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Trade debtors 51,989 65,041 51,559 62,486
Amounts owed by group
undertakings		 - - 839,530 828,877
Other debtors 9,023 8,154 8,775 7,500
__ __ __ __
61,012 73,195 899,864 898,863
Financial liabilities that are debt
instruments measured at
amortised cost		 Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Trade creditors 715,698 190,126 709,582 153,257
Amounts owed to group
undertakings		 - - 66,231 43,467
Accruals 480,091 528,857 466,779 499,671
Other creditors 375,262 226,036 374,454 226,036
__ __ __ __
1,571,051 945,019 1,617,046 922,431

There are no financial instruments measured at fair value.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

16. PROVISION FOR LIABILITIES AND CHARGES

The provision in respect of the pension deficit relates to both the Group and the Charity, which has been explained within note 23.

Provision in Provision in
respect of respect of
pension deficit pension deficit
reduction 2022 reduction 2021
£ £
1 September 2021 129,228 164,415
Increase in the year (1,089) (172)
Unwinding of discount 733 800
Payment made in year (25,733) (35,815)
Amendments to contribution schedule (78,431) -
__ __
31 August 2022 24,708 129,228
17.
FUNDS
Group Funds Unrestricted
income funds
£
1 September 2021 13,877,924
Income 11,167,734
Expenditure, gains, losses and transfers (11,080,078)
___
31 August 2022 13,965,580
Group Funds Unrestricted
income funds
£
1 September 2020 13,421,938
Income 10,189,098
Expenditure, gains, losses and transfers (9,733,112)
___
13,877,924

31 August 2021

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

17. FUNDS (CONTINUED)

Group Funds Restricted income

E G
Mallalieu
Bursary
Fund -
endowment
£
1 September 2021
243,865
Income
-
Expenditure, gains,
losses and transfers
Fund transfers
(79,287)
__

31 August 2022
164,578

Unrestricted income funds
Restricted income funds
(including linked charity)
Total funds		 Other
Restricted
funds
£
55,000
113,400
(29,120)
-
__
139,280
 Centenary
& JH
Bursary
Funds
£
138,262
29,772
(15,515)
203,541
__
356,060		 Other
funds
Endowment
fund
£
£
129,211
-
925
-
(2,023)
-
(124,254)
-
_
_
3,859
-
 Total
£
566,338
144,097
(46,658)
-
__
663,777
£
13,965,580
663,777
___
14,629,357

Other restricted funds reflect donations of £55,000 received in the prior year, allocated to a new organ, and landscaping work, £8,400 in relation to a new CRM system and £105,000 for academic and sporting facilities.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

17. FUNDS (CONTINUED)

Group Funds
E G
Mallalieu
Bursary
Fund
£
1 September 2020
243,243
Income
622
Expenditure, gains,
losses and transfers
-
Transfer of utilised
resources
-
__

31 August 2021
243,865

Unrestricted income funds
Restricted income funds
(including linked charity)
Total funds		 Other
Restricted
funds
£
55,000
-
-
-
__
55,000
 Restricted income
Centenary
& JH
Bursary
Funds
Other
funds
Endowment
fund
£
£
£
105,610
129,493
-
34,438
10,876
-
(1,786)
(1,364)
-
-
(9,794)
-
_
_
__
138,262
129,211
-
 Total
£
533,346
45,936
(3,150)
(9,794)
__
566,338
£
13,877,924
566,338
___
14,444,262

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

17. FUNDS (CONTINUED)

Charity Funds
E G
Mallalieu
Bursary
Fund
£
1 September 2021
243,865
Income
-
Expenditure, gains,
losses and transfers
Transfer of utilised
resources
(79,287)
__

31 August 2022
164,578

Unrestricted income funds
Restricted income funds
(including linked charity)
Total funds		 Restricted income
Other
Restricted
funds
Centenary
& JH
Bursary
Funds
Endowment
Fund
Other
Funds
£
£
£
£
55,000
138,262
129,211
-
113,400
29,772
925
-
(29,120)
(15,515)
(2,023)
-
-
203,541
(124,254)
-
_
_
_
_
139,280
356,060
3,859
-

 Total
£
566,338
144,097
(46,658)
-
__
663,777
£
14,086,997
663,777
14,750,774

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

17. FUNDS (CONTINUED)

Charity Funds
E G
Mallalieu
Bursary
Fund
£
1 September 2020
243,243
Income
622
Expenditure, gains,
losses and transfers
-
Transfer of utilised
resources
-
__

31 August 2021
243,865

Unrestricted income funds
Restricted income funds
(including linked charity)
Total funds		 Other
Restricted
funds
£
55,000
-
-
-
__
55,000
 Restricted income
Centenary
& JH
Bursary
Funds
Other
funds
Endowment
fund
£
£
£
105,610
129,493
-
34,438
10,876
-
(1,786)
(1,364)
-
-
(9,794)
-
_
_
__
138,262
129,211
-
 Total
£
533,346
45,936
(3,150)
(9,794)
__
566,338
£
13,874,309
566,338
___
14,440,647

There is no requirement to include the Charity’s Statement of Financial Activities within these financial statements. The College’s gross income for the year was £11,025,395 (2021: £10,116,552). The net income and increase in funds for the year was £310,128 (2021: £503,578).

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

18. CENTENARY AND JOHN HYMERS BURSARY FUNDS

Group and Charity 2022 2021
£ £
1 September 138,262 105,610
Bequests, donations and accrued interest 29,772 34,438
Applied for bursaries during the year (15,515) (1,786)
Fund transfers 203,541
__ __
31 August 356,060 138,262

31 August

The Centenary Bursary Fund was set up to provide bursaries at the discretion of the Headmaster. It consists of restricted funds donated for the purpose.

The John Hymers Bursary Fund was launched to provide future support for assisted pupils.

19. LINKED CHARITY: E G MALLALIEU BURSARY FUND

Group and Charity Bursary,
Property Scholarship
Fund Funds 2022 2021
£ £ £ £
1 September 2021/2020 46,325 197,540 243,865 243,243
Interest - - - 622
Transfer to bursary fund - (79,287) (79,287) -
__ __ __ __
31 August 2022/2021 46,325 118,253 164,578 243,865

The EG Mallalieu Bursary Fund is a separate charity registered 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 to advance the education of persons who are disadvantaged by reason of their social and economic circumstances by giving financial assistance for such persons to attend the school. The Howard-Mallalieu Scholarship Fund, a sub-fund, was established to assist such pupils moving to university education.

The capital of the E G Mallalieu Bursary Fund is held as an endowment and the income produced from this will be used to provide bursaries by the trustee, Hymers College Trustee Limited. A funds transfer has been made during the year from the endowment fund to the restricted fund to be applied for bursaries.

This fund is reported as an asset of Hymers College because the charities have the same trustee and the financial contribution the college receives from bursaries towards its charitable purpose.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

20. OTHER FUNDS

Group and Charity Development Lovell Prize
donations Fund Funds 2022 2021
£ £ £ £ £
1 September - 124,254 4,957 129,211 129,493
Donation, gift aid and
interest		 - - 925 925 10,876
Cost - - (2,023) (2,023) (1,364)
Transfer to bursary fund - (124,254) - (124,254) -
Transfer of utilised
resources		 - - - - (9,794)
__ __ __ __ __
31 August - - 3,859 3,859 129,211

The Lovell Fund has been established in memory of Peter Lovell for the purpose of creating scholarships at the discretion of the Governors, and transfers to the JH bursary fund.

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 and recurring gifts were received – some gift-aided. The entire fund has been utilised on charitable objectives and the appropriate transfer made to unrestricted income funds.

21. ENDOWMENT FUND

The Permanent Endowment Fund comprises a gift of endowment of land and buildings extending to 8.43 hectares situated to the south of Sunny Bank and the west of Hymers Avenue. No value has been ascribed to this fund due to its historical nature.

There is no power vested to the Governors to convert the capital, made up of land and buildings into income.

22. ANALYSIS OF NET ASSETS BETWEEN FUNDS

The net assets are held for the various funds as follows:

Net current
Group 31 August Fixed asset Tangible fixed assets/
2022 investments assets (liabilities) Pensions Total
£ £ £ deficit £ £
Restricted and
endowed funds		 - - 663,777 - 663,777
Unrestricted funds - 13,678,039 312,249 (24,708) 13,965,580
__ ___ __ __ ___
- 13,678,039 976,026 (24,708) 14,629,357

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

22. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

Charity 31 August
2022
Fixed asset
investments
£
Tangible fixed
assets
£
Net current
assets/
(liabilities)
£
Pensions
deficit £
Restricted funds
-
-
663,777
-
Unrestricted funds
1,179,743
11,872,075
1,010,472
-
Pensions deficit
-
-
-
(24,708)
_
___
_
_
1,179,743
11,872,075
1,723,664
(24,708)

Group 31 August
2021
Fixed asset
investments
£
Tangible fixed
assets
£
Net current
assets/
(liabilities)
£
Pensions
deficit
£
Restricted funds
-
-
566,338
-
Unrestricted funds
-
12,551,361
1,455,791
-
Pension deficit
-
-
-
(129,228)
_
_
_
_____
-
12,551,361
2,022,129
(129,228)


Charity 31 August
2021
Fixed asset
investments
£
Tangible fixed
assets
£
Net current
assets/
(liabilities)
£
Pensions
deficit
£
Restricted funds
-
-
566,338
-
Unrestricted funds
1,179,743
10,667,297
2,156,497
-
Provisions including
Pension deficit
-
-
-
(129,228)
_
___
_
__
1,179,743
10,667,297
2,722,835
(129,228)

 Total
£
663,777
14,111,706
(24,708)
_
14,750,775
Total
£
566,338
14,007,152
(129,228)
_
14,444,262
Total
£
566,338
14,003,537
(129,228)
___
14,440,647

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

23. PENSIONS

There are two pension schemes in operation for employees of Hymers College. These are The Pensions Trust Growth Plan for support staff and the Teachers’ Pension Scheme for teaching staff.

The total pension cost to the Charity for the year was £968,354 (2021: £983,413).

Both schemes are multi-employer schemes. It is not possible for the Charity to obtain sufficient information to enable it to account 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 Charities SORP 2019 (FRS 102).

The Pensions Trust Growth Plan

The Charity 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 December 2005. This, together with 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 standing arrangement’. Therefore, the Charity is potentially liable for other participating employers’ obligations if those employers are unable to meet their share of the scheme deficit 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 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 31 January 2025: £11,243,000 per annum (payable monthly and increasing by 3% each year on 1 April).

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the charity has agreed to a deficit funding arrangement the charity recognises a liability for this obligation. 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 detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present values of provisions

31 August 2022 31 August 2021 31 August 2020 £ £ £ 24,708 129,228 164,417

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

23. PENSIONS (CONTINUED)

The Pensions Trust Growth Plan (continued)

Assumptions

The discount rate used was 4.46% (2021: 0.63%) and is the equivalent single discount rate which, when used to discount the future 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 following schedule details the deficit contributions agreed between the Charity and the scheme at each year end period:

Year ending 31 August 2022
(£000s)		 31 August 2021
(£000s)		 31 August 2020
(£000s)
Year 1 11 37 36
Year 2 11 38 37
Year 3 4 39 38
Year 4 - 17 39
Year 5 - - 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 the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the Charity’s balance sheet liability.

Contributions are made at the following rates:

Employee Employer
Automatic Enrolment Opted in 5% 3%
Automatic Enrolment Opted out 5% 10%

As at the balance sheet date there were 85 (2021: 51) active members of the Growth Plan in Series 4 of the Plan, of whom 41 (2021: 12) are members of the minimum contribution scheme. This series carries no form of capital guarantee and is still regarded as a defined contribution scheme. Future support staff appointments will also be enrolled into this series. There are 12 (2021: 12) members and a number of deferred members or pensioners also have investments in previous series, and it is these previous contributions to which this further liability attaches.

All expense and liability is allocated to unrestricted funds.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

PENSIONS (CONTINUED)

Teachers’ Pension Scheme

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set 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 set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it 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 period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to 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 McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses.

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on any financial impact or future changes to 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 two group personal pension plans for support staff, the costs of which are also charged directly to the statement of financial activities.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

24. RELATED PARTIES

In the year 4 Governors (2021: 4) and 5 people with significance influence (2021: 5) over the Charity had children enrolled at the college at the date of the financial statements. The fees charged in respect of their education are at the normal, arm’s length rates. No governors received payment from the Charity except in reimbursement of allowable expenses (2021: £nil).

Due to the nature of the Charity’s operations and the composition of the Board of Governors (being drawn from local public and private sector organisations) transactions may occasionally take place with organisations in which a member of the Board of Governors 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 arm’s length and in accordance with the Charity’s financial regulations and normal procurement procedures.

Transactions between the Charity and its subsidiaries during the year are as follows:

Income:
Salary recharge – The School Shop (Hull) Limited
Interest receivable – The School Shop (Hull) Limited
Interest receivable – The College Enterprises (Hull) Limited
Ground rent – The College Enterprises (Hull) Limited
Repairs and maintenance recharge – Botanic Sidings Limited
Management charges – Botanic Sidings Limited
Expenditure
Office costs – The School Shop (Hull) Limited
Rent – The School Shop (Hull) Limited
Facilities hire – Botanic Sidings Limited
Rent – Botanic Sidings Limited
Intra-group balances between the Charity and its subsidiaries at the year
Amounts owed by group undertakings:
The School Shop (Hull) Limited
The College Enterprises (Hull) Limited
Botanic Sidings Limited
_		 2022
£
1,275
320
38,046
1,000
-
17,832
53,342
41,000
52,138
551
end are as follows:
2022
£
41,967
609,507
188,056
_
_
839,530		 2021
£
8,435
320
38,046
1,000
-
17,832
54,342
41,000
38,152
551

2021
£
40,692
606,046
182,139
_
828,877

Included in the amount owed by The School Shop (Hull) Limited is a loan balance of £32,000 (2021: £32,000) which is subject to interest at a rate of 1% per annum. Included within the amount owed by The College Enterprises (Hull) Limited is a loan balance of £580,050 (2021: £580,050) that bore interest at 6.5% per annum, which 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 Sidings Limited is a loan of £174,000 (2021: £174,000) which is subject to interest at a rate of 2.5% per annum.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

24. RELATED PARTIES (CONTINUED)

2022 2021
£ £
Amounts owed to group undertakings:
The School Shop (Hull) Limited 46,626 43,302
Botanic Sidings Limited 19,605 165
__ __
66,231 43,467

25. POST BALANCE SHEET EVENTS

There are no post balance sheet events to note.

HYMERS COLLEGE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 (CONTINUED)

26. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Income
Note
Donations and legacies
2
Other trading activities
3
Investment income
Charitable activities:
- Tuition and associated income
5
- Ancillary trading income
5
- Other incoming resources
Total income
Expenditure
Raising funds:
-
Fundraising
7
-
Trading cost of goods sold
7
Charitable activities:
-
Tuition and associated
costs
7
Other
-
Pension deficit reduction
costs – interest
7,16
Total expenditure
7
Net income
Tax on profit on trading activities
6
Remeasurement of Pension Deficit
16
Fund transfer
17
Net movement in funds
Fund balances brought forward at
1 September 2020
Fund balances carried forward
at 31 August 2021
17		 Unrestricted
Funds
£
49,706
182,133
14
9,753,630
202,836
779
_
10,189,098
25,355
206,310
9,507,063
800
_
9,739,528
_
449,570
(3,550)
172
9,794
_
455,986
13,421,938
___
13,877,924
 Restricted
Funds
£
Endowment
Fund
£
44,775
-
-
-
539
622
-
-
-
-
-
-
_
__
45,314
622
-
-
-
-
3,150
-
-
-
_
__
3,150
-
_
__
42,164
622
-
-
-
-
(9,794)
-
_
__
32,370
622
290,103
243,243
__
__
322,473
243,865

 2021
£
94,481
182,133
1,175
9,753,630
202,836
779
__
10,235,034
25,355
206,310
9,510,213
800
__
9,742,678
__
492,356
(3,550)
172
-
__
488,978
13,955,284
___
14,444,262