HYMEILS COLLEGE HYMERS COLLEGE ANNUAL REPORT FOR THEYEARENDED 31 AUGUST 2024 RewteTed Charity Number S298ZO HYMERS COLLEGE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Index Page TNstee, Governors, Officers and Advisers The Report of the Trustee (Sncludtrtg Strategic Report) 5-13 IndependentAuditors' Reportto the Board of theTh]stee ofHymers College 14-16 Consolldated statement of financial activities (incorporatingan income & expendlture account) 17 Balance sheets 18 Consolldated cash flowststsment 19 Note5 to the Consolidated cash flowstatement 20 Principal accountlng polScles 21.24 Notes to the consolidated financial statements 2S-SI HYMEILS COLLEGE TRUSTEE, GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Thistee / Governors Hymers College Trustee Llmlted Is the sole corporate trust¢¢ of Hymers College (the Charity). Directvrs of the Board of Hymers College Trustee Limited are defined as Governorsand acton behalf of the trustee. as a Body, underthalcoTnpanls Articles of Association and the Chai'ity's Governance documenL'I-he names cf thuse who were in office during the year and unles5 otherwise noted up tD the date Dl"signing the financial staternents were as follows. r)r l Kittmer lappointed 28 lune 2024) (Chairman from I january 20251 Mr M P Astell Iresigned 25 lune 20241 Mr PA B BeeLroft Professor P G Burgess MrA H Chicken Mr I }.' C.Drtnolly Mrs E r. rTarton12ppointed IS March 2024) Mr D A Gibbons MrMCSHall Mr l G Leale Mrs EA Maliakal Mr A Mallik Mrl M V Redman Ichairman until I january 2025) Mr D U Rosinke Mrs N Shipley MI'A M Sinclair (appointed IS March 2024) DrT Tinker Mrs G V Vickcrman Mr l R Wheldon Mrs EA Wi150n This is a cornplete list of the Board of Directors of Ilymers College Trustee Llrni￿d, COTnpany number OS193649, the Trustee of Hymer.% (.'olle8e. Charity No. S29820, diiring the yearended 31 August 2024. Reference to the tide governorls) also means director[5) of the Corporate Trustee throughouithis reporL Core Senlor Leadershlp Team Mr I P Stanley Mr M A Tuckwood-Hill Mr R P Wrlght Mrs H jackson Mr P C Doyle Headmaster Bursar (appointEd l October 2023) Dcputy Head (Management) Deputy Head [Pa5toral) HLad Df Junior School Governlng Documents Charity Commission Sch¢me fur HymErs College dated 31 AugiLSt ZOO4. Memorandum and Artlcles of Assocfiation for the sole corporate tNstee, Hymers College Trustee Limited (incorporated 30 july 20041. and Amendments da￿d 6 February 2008, 12 March 2012 and 29 March 2019. Charitable Status Hymers College ig an unincorpDrated registered Charity. The charity's trustee was incarporated with effect frorn I September 2004 as Hymers College Trustee Limited company limited by guarantoc and ts registered in England and Wales, HYMERS COLLEGE TRUSTEE, GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) Regirtèred Offi Hymer5 College 83 Hyrners Avenue Hull East Yorkshire HU3 ILL IndependelltAuditors Saffery LLP 10 Wellington Place Leeds LSI 4AP BaDkers NatiDnal Westminster Bank plc PO Box 944 34 King Edward Street Hull E3St Yorkshire HUI 3SS Solicitors Rollits LLP Citadel House 58 Hlgh Street Hull HUI IQE InSNTance Brokers Aon Risk Services Limited 3 The Embankment Sovereign Street Leed.% Westyorkshire LSI 4BI Memberships and Affiliation5 The Headmaster is a member of the Headmasters. and Mistres.%es' Conference (HMCI and the Association of School and College Leaders {ASCLI. The School is a member of the Association of Governing Bndies of Independent Schools {AGBIS) and the IndEpendent Schoo15' Bursars Association IISBA). It is 3ifJliatsd to the Independent Schools. Council (ISCI. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THEYEAR ENDED 31 AUGusf 2024 The Board of Directors of the sole corporate trustee. Hymers College Trustee Limited present their report and audited consolidated financial statcmeDts for the year ended 31 Augi￿t 2024. Strurture, Governante alld Management 'I'he role of the Governors of Hyrners College i5 to plan and implement strdtegies that will best meet the objectives OF Flymers College as an educational charity. The Governors are also directors OF Hymers College Trustee Limited for purposes olthe Companies Act 2006. Day to day management of the School is delegated to the Headmaster supported by the seniorleadershlp team. The structure and tneTnbership ol the Governors. Committees and working parties are subject to ongoing revlew to ensure that they are fit (or purpose. Currendy, there are 19 Govcrnors. All Governors are co-opted and serve (ur renewable periods ofnot more than 5 ye3rs. Belowtht Board ofGovernors there are a nun]ber ofstsnding committees. There are now the following Standing Commitlecs.. Education, Finance & Property, Governattce, Health & Safety, Nominations and Rernuneration. There are written terms of reference for all committee5 which are reviewed annually. The Board nfcjovcrnors review and approve recommendations of the mlnutes ofstanding Committee5. In addition, several Governorshave delegated re5POn5ibilities to liaisewith school staff and report through the relevant standing Cummittees on the following areas.. AudiL Capital Developtnents, Developtnent Office. Fee RernisSLon5, Health and Safety, ICT, Marketing arld Safeguarding including the Staff Register. GnvernDrs are subject to enhanced disc105ure frorn the Dlsclosure and Barring Service. Induction training aT]d continuation training are made available to all Governors through the Association of Governing Bodies of Independent Schools IAGBISI. OBIECTIVLS AND ACTIVITIES In furtherance of the Intentions of the founder of the School, the Reverend lohn Hyn]crs. the principal object of the harity is to advance the education of school 3ge children by providing a day school located in the City of Kingston- Upon-Hull, to benefit the City, East Yorkshire and North Lincolnshire. The founderfs objective, which is still pursued today, was lor a school which provides: 'for the training of intelligence in whatever social rank of lire it n13y be found Governors remain comtnitted to thi5 objective of public henefit in their management of the Hymers Fee Remission Scheme. During thc year, thc Hymers Fee ReTni.%.%hons Scherne provlded financial assistsncc to 106 pupils from lower incume famillts. We gratefvlly acknowledge the continuingsupport ofThe Sir lames Reckitt Chariry, through its contributions to the Schcrne. Financial siippori for recipient5 of Hyrners Fee ReTnissions is also available from The Er5( Gordon Mallalieu Bursary Fund, the How3rd-Mallalieu Scholarship Fund and a bequest in memory of the late Mr Petcr l.ovell. The john Hymers Bur.sary Fund was launched in 2016. In 2023-24. ￿ndS of G£191k (prior to Gift Aid) were received through the Developmcnt Offjce. Financial support is means-teb￿d and remains the fairest way of making grantb to ensureaccess to the School, regardle55 ofincDme, Is availablÈ to the widest P05SLbleso£io-detnographic mix ofchildren. Strategic Intents and Future Plans for Development Our strate￿¢ vision for th¢ Continuing development of Hymers College as a centre of educ3tional exccllence requires a focii.s on str]dent centrcd learnlng, enhancing learning disciplines, innovdtion and creativity among pupils. For our vision to work, capit31 expenditure on the campu5, regular maintenance and improvements to vur facilities niust be ongoing. HYMERS COLLEGE THE REPORT OF THETRUSTEE FOR THEYEAR ENDED 31 AUGUST 2024 The School continu¢s to use at)y surplus that it makes to offer fpe 355lStance to support the education Df pupils who would otherwise not be able to afford a Hymers education 2nd to inve.gt in the education of it% pupils. The School ha5 continued to update its facilittes in 2024 by refurbishing classrooms and purchasing Chromebooks for pupils as part of the School's digitsl strateKy. Achlevements and Review of the Year The previous acadernic year had been the first in which an all-through Hymers educatinll had been otfered to pupils from aRed 3. Further investment at Hymers Hessle ML)unt uver the summer of 2021 h3d led to a modest hut siRniftcant uptick in pupil recruitment ftsj. the srart olthe Autumn Term 2023, and throughoutthe acadcmlc year 2023-24 stalland pupils alike enjoyed and henefitted (rom the refurbish¥d facilities at tlie Hesslg site. Whilst a Hymers education is about so much more than purely acadernic outcomes, results in external public exams are readily understood to be of import3nce and one indicator of the success of the School in mecting its aim to offer an education of all-round excellence, with a strong academic thrcad. The Ilymcrs A Level C13ss of 2024 athieved exceptional grades, Ltsnsiderably above those of rhe prLviou5 year and up thert with the School's best ever. 510/0 of all results were at A*/A grade5, while inore than a third Dlall Students achieved 3 A grades or better. These were extremely pleasing resuIt.%, placing li.% among a small bdnd of schools In Yorkshire and the tlorth of Eng13nd. The outgoing Year 13 sthdents left us to take up place.s on 2 wide range of COUf5es at leaditig Rus&ell Group universities or to fullow comprtitivc degree apprentlceship pathways. Our Year 11 students also performed extremely strongly with more thatj 40% uEall GCSE exams 8r2ded at either 9 or 8 Ithe equivalent of an A'l, while 76 students- more than one third of the year group- achieved all Krades 9.7 IA'/A gradesl. These results saw us placed 64th in The Times Icague table of co-educational schools and, more importantly, have given the students firni foundatlc>ns upon which to build their Sixth Forni Success. The School's academic suc¢e.4.% 15 underpinned by DUtStanding pastoral care. with well trained staff and a wcll re.qnurced structure of welfare provision, alongside a broad ranoe of co-curricular activities. Tn 2023-24 our S￿dentS continued to excel outside the classroom, thereby developing their self-esteern and '.skills for life,. liinior School pupils met with particular siiccess in sporL with both the Ul I girls, and boys, foothall tearns crowned ch2mpion£ in tlle FA Hull Clip. Swimming and girls, cross country were uthei- sports in which our Iiinlor-age pupils thrived, and in athletics our Ull boys and U9 girls won the HMC NE competiiion from the 21 schools in the division. In the Senior.School our 1st Xl girls, hockey team enjoyed a highly surie5sful 5e350n. while the U15 girlb went unbeaten. In netball both t)ur U19 and U16 squads qualified lor the regional finals. In football our U14 boys reached the national cup semi-fJn31 for the second year running, unluckily losing on penÈltie.E, while the UIS rugby team reached the national vase final at Saracens, ground in north Lr)ndoh. This was tlie %ecothd tlrne in 5 years that a Hymers team had reaLhed th¥ filial of this prestLEiUUS Lvmpetition. The performing arts c(Jntinue to flourish in the School, with our youngest pupils 3t Hymers Hessle Mount following the example stt by pupils in higherycar groups. ()n the stage, Year 2 pupils entertained an enthusiastic audience with their perfDrmancc uf Pirates Versus Mermaids, whlle the Year 5 productinn of Iloodwinked and Year 6 seleitions froTn Roald Dahl were similarly impressive for the poise and confidencc of rhe ynung performers. lrt the Senior School we were treated to a higl).energy producuon of We Will Rock Youl and a tlghtly focused performance of Lf)uis S2¢harfs Holes.'fhis summei. it was pleaSLng tu note two of our recent alumni garnering success in thÈ early stages of their professional accing careers- oiie in the History Boys at the Theatre Ruydl in Bath, the othor wlth a part in the ITVsoap Coronation Streer. Across the school there werL' nun]erous high qualiry music concerts- in a range of genres and 5tyles- and the Ivnior School choirs enjoyed success In fesLivals at Cotringhani and Cleethorpes, as well as in national event% such a.% the Rarnado's competitiorj in BirminEham 3n(I the Eisteddfod in ljangulleii. A further nattonal success C2me from the Junior School Dancc frroup whn came 1st pl3ce in the Great Big Dance Off flnal in Oxford, while three of our talented artj5ts entered the YoungArtlst Open Exhibition and had their work chosen for display iii the Ferens Art Gallvjy. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 'rhe 3nnual junior Sthnol ThemE Week- with this yearfs Therne beingthat of the'olympic Bid'_ was a highlight of the calendar and pupils across the school benefitted from the opportunitie5 to extend thclr learning outside the classroom through the Tnany educational Vi5Lts that tovk place. Pupils at Hymer5 Hessle Mount enjoyed trips to Pink Pig Farm, Yorkshire Wildlife Park and Eureka! while in the lunior School pupils visited Hull Strvet Life History Museum and Year 6 relished their residential week in Winderrtlere. In the Senior School 2023-24 saw more ofour students than ever taking part It) the Duke of Edinburgh Award programme, and Ihere wa5 a myriad of cnrfchment 50¢1etles, academic challenges and OIyTllpiad5, as well as the trips to dcsrinations near and far, including life-changiiig educational visits such as Ihe Catzero sailing expedition to the NorwegSan fjords and the Operation Wallacea ecolo￿ trip to Hondura5. These trips have given our pupils memories for life. ror ouryoung people artendance at Hymers is undoubtedly a privilege. However. it is nne of which our pupi15 are fi)Ily aware and tl)roughoutthe academic year they tTr(Ik opportunities to share it with young pcuple beyond the immediate school comtnunity. Our studcnts have continued to give back to the city and region by volunteering in local schoo15 and charities. In addition to the activifies of NCS IdEscribed elsewhere in thi5 report). our anniiJl WE've Got Problems Imathsl aIid We've Got Issues IEngli5hl outreach events were enjoyed by 146 pllpils froTn 16 different primary.srhnnls. This year also saw our in3ugural Year 10 Science Triathlon. In thi5 6U Gifted &Talented students from 11 local schools took part in a nutnber of different challenges in thc13boratories at Hymer5 and competed for a range hf award.s.%pr)n.%c)red by local businesses. Furtherniorej piipils frDm 18 other schools Cdme to Hymers to join an audience of 200 children inspired by the vi5lt of NASA astrvnaut Don Thomas. The eagerness oFour pupils to extend the life-changing educational opportunitie5 of a Hymers educatlDn to children who woulil otherwise be able to attend the School was also tnarked in 2027-24 by the sum of almost £IS,000 that they raised to support the John Hymers Bursary Fund. The Devclopment Ollice continued to cmbcd itself tn the day- to-day life of the School, growing its network to more th3D 5,500 registered online users, hOs￿ng 17 events that were attended by over SOO alumni, supporters and Friend5, and arrangin¥ Coundess careers t21ks and work experience placements for Hymer5 sludents. Charltles of the Year Various fundraising events are held throughDUt thvyear for oiir two charities. The main ones are a non-uniforn) day in SEPtember and a non-unifonn and jolly jumper day in December. Our two charities for 202314 were Dove House and Welcome House. Both chai'ities i'eceived a cheque for £1.773. other Charltsble Actlvlty Culture day bake sale- raised £400. Mission Christmas ToyAppeal- 600 toys cvllected and distributed in Ilull and last Yorkshire via Viking rm's Cash for Kids Charity. Christmas food collechon- an annual evenL Pupils collerted and distributed IZO food parcels to over 60 families and organisations. Primary mentoring at local primary schools- Students from Year 12 at Hymers Cullege visitThoresby and Pearson Primary schools eath week, to help the yuung students with their Inglish and reading. The pi'ojcct is airned at improving the reading ability of the primary school children. It is also aimed at growing perspective, compassion and loader.%hip in Hymers students through volunteering and WOrl￿ng with yoiinger chlldren In a prolessional contexL The proieci has bccn running for about 10 years. This equated to 600 hour5 of volulltary work with primary school students in two primary schoo15 located centrally in Hull. Emrnaus Hull- Over the last 10 year5,14yTner5 have developed a veryspecial relationship with the Emmaus charity. The £chDoI supparts the charity through an annu31 Christmas Carol Concert which raised £3606 in 202312024. Hymer% C,ommunity Days- I'he Ilymers Community J)ays are an annual activity that runs towards the end of the Summer tern). Every year all ofour Year 12s spend a day serving in the comrnvnity. This equaLed to 1,092 hours of se￿iCe with 8 different organisations acr055 the Llty. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 Ratary Disability Garnes- The Rotary Disability Games is an annual pvent held at Hymers Collcgi. It is organi5ed by thc Ror3ry club in thc Humber area and provides an opportunity for individuals with a disabiliry aged from 9 to participatc and cornpete ag2in%t nther people. Everyyear we have up to SO Yeai. 11-13 students volunteer on the day, to art as guides and co assist wlth the running of the events. This hs a special event that HynJers College is proud to support. HymErs NCS Hymers College is the only independent school in the rountry to nffer NCS programmes a5 a delivery provider. Hymers NCS hos been runnin¥ lor eight year5, With over 800kn of participat)ts fvom external 'hard to re3¢h' b2ckgrDunds. IE)rging partnerships with IS schools and collcges around Hull and East Riding of Yorkshire. The scheme aims to provide young people with opportunities to grow through hands-on, redl-world experiences that encourage personal and social development Hymers NCS has strong connectiotL% Wlth Bai'clays and Network Rail. Elarclays has offered warkshop& un LV wFitin financc, interview ski115i public speaking, the pros and cons of SD¢ial media and scams., all devclopingvaluable skills and readiT)ess for adulthood. Nenvork Rail hd5 offered us workshops and events around rail safety, as well as making young peoplc aware of 311 the diflerent jub5 you can apply fur in the rail industry. Students at Linkage follege are offered a specialist learniT)g experience through 3 curriiuluin that provides learners wirh bespokL and tlexible study programmes. Linkage learners havc varyiiig degrcc5 of learning disabilitie5. trom mild to severe. Hymers NCS and some younE people wcnt intu the Linkage College in Beverley to provide team building activities that hElp¢d develop a range of skills, such a5 team buildill& communicatiun. creativity and problem sDlving. Publlc Benefit Our sirategy aim5 to meet several broad objectives., by continuing to provide significant educational benefit to the community. not unly by awarding Hymers Fee Remission grants to enable ocademically able children from low incorne familieg to attend the School, but by irnpleTnentinE programmes, events and letiing our fdLllities in broad support of education and practical wellbeing projects to local people and cotntnunity groups. School staff and pupils regularly engage with the wider community and provide mentorin The Board of Governors has tsken full account of the Charities Act 2011 re￿rding the Public Benefit required to be provided by independent schools in suppurt u( their charitable ststlls and remain confident that such henefit is being provided within the stated airn of the chariry to advancv the education of boys and girls in or nearthc City of Kingston" Upon.Hull. Eastyorkshire, North Llncoln5hire. The School encourages local organlsatLOllS to Use its facilities, which include J swlmming pool. all-we2ther pitch. thcatrc, sports h311 and sporLf centre. In the pagtyear the School has seen a wide r2nge of organisations on carnpus. In a wider context, the School continues to make a significant Social and economic tontribution to the life of thv city. through- FJ"naMcialA5SiStance We condnue to ediicate a significant niimber of children from a broad range Dfbackgrounds at no cust to the State. The Tndepondent Schools, Council's Impact Assessment Tool was used to calculate rhat Hymer5 College saves rhe UK Exchequer £6.5m in 2023-24 by eliminatlng the cost of providing state-tundcd education. The School devotes around 80kn of its inLome to bursaries to enable acadernically talented childreji from low. IDcorne backgrounds to attend the School. Hordship Funds OngoinK bursar&es and short-term hardship grants were made to enable puptls whose parenis experienced reduced income due to the effects of bereavemetir, loss uf Employmenk illness or injury to remait] atthc School. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 Chari¢oble Fundrai51hg This ye3r Lhe School'5 two official charities IDove House and Welcornc House) have directly benefitted from ongoing fund raisin& each receiving a cheque for £1,773. In addition, members of the School's sraff and student body organise various fundraising cvcnts and cn-f)rdinate a variety of acrivirics both within the School and Ihe widcr community tD raise ￿ndS for an array of charitablc cause5 throughout each year. The School does not use any professlonal fundraisers in its fundraising cfforts. Notional Cittzen 5erwce Hymers College retnain5 the Dnly independent school in the country that acts as aservice prnvidcr forthe National f.itizen Scrvice INCSI- Flymer.% College delivers a range of NCS proErammes across Hull and the Ea5tRidingto bring about effective change in comTnuniti2s, supporting yDung people to flourish and thrive in society. We this by delivering projects focussing on physical activÉty, mental health. enterprise, social dction, citizen.ghip and training. Throughour the year NCS Lontinued to build on relation5bips Within rhe community. building on existing link5 with Linkage College'.5 Pupil Referral Unit and Kelvin Hall School. Lloth schools had bespoke NCS programm¢s tshlored to suit their.%tudents' needs. Fundraising MeTnbers of the School's staff and studcnt budy organise various fundraising vvents co-ordinaie 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 fundrai5er5 or involve commercial participators in its fundraising efforts. Prlncipal Risks and Uncertalntles Tlie Board of Governors ha.s establislied robu5tpolic?es and procedures to address keyri5ks alld monitor perFDrmance, which under norm31 conditions will allow risks inhcrent in its day ti) day Dperations to be Jnitigated to an acceprable level. A key purpDse of the c.orporate Trustee is to provide a layer Df prDtLciiun to persons acting as Governor5, SO that the Board can reduce Governors, personal liability to dttt2Ct the best governors with the widesi range of prufe5sional skills and experience. Thp Board of Governors regularly reviews the School's princip31 area.s af operation5 and considers the organisational sks it Jnight face. I'hc Board will continue to actively monitor the effects of such risks on its operations and review existing and emerging legislatlon, and lfiliewlse the effects of current and forecast economic, political and market conditions. Thc pi'incipal risks include, but are not restricted to.. Parental attordability, fee pressure and onROlllg Cost inflation: IncreasinL pension costs. Impact of the imposition of VAT on fees and luss of Business rate relief.. Retention and recruitnient of talented education pi'ofe5510n315', Comperition from lucal state aiid independeiit education providers., Meeting societal demands tu demonstrate the value of a privatE educatiun. Group HyTners College Is the parent charity of a group which comprises three wholly owned subsidharies, Botanic Sidings Lirnited [co.no. 3796732).TheSchool Shop (Hull) Limited (co. no. 2349803) aiidThe College l.:rtterprises (Hull) Limited Ico. no. 2583012). Each subsidiary is a trddin% company set up to deliver the ch3ritable objethves of Hymers Collcge. The SchDoI Ehop (Hull) lJ)rnlted.. The rctail shop ceased trading in May 2022 atjd was replaced by an external online uniform rctailer. See Note 12 for a summary of resiilts. HYMERS COLLEGE THE REPORT OF THE TRUSTEE FOR THEYFAR ENDED 31 AUGUST 2024 The College Enterprises (Hull) liiilllted,. Owns the freehold title to the'l'heatre building which it leases to the Trustee to deliver the charftable objectives of Hymers College. see note 12 for a.summary of results. Botanic Sidings Limited.. Owns property which is used by Hymers Collegc ro provide sports facilities including an all- weather pitch and playing fields. See Note 12 lor a siimmary of results. Reserves Pollcy Currently the School holds free reservcs, which are defined as unrestrirted funds excludlng land and buildings. Free reserves include cash and other working tapltal balance5. As part our Strate￿ to build cffecknve flexible financial reserves we evaluate our need for reserves and hold those reserves ￿ ensure that we can deliver services. Flnanclal Impatt of risk- There are a r3ngc of risk¥ the charity Faces, including the risk of ali unforeseen drop in income and in the extreme. to political Influences which may pose an exlstential threat tD the School. To ensure that there is no significant disruption to our charltable activities, holding an appropriate level of reserves will en3ble the organisation to respond to unforeseen short-term r&ducrions In income, which we determine ab ¢1 low risk in curreE)t thrcumstances. WOrki￿g capital- A Significant proportion of our reserves are repre.%ented by cash and trade debtors. We maintain a laroe proportion of our currenl assets in cash to reduce dependency on borrowing and cut the cost of tinancing ¢ur se1'￿tes. 'fhese cash reserves are used to meet day to day liabilities. Our rescrve.s policy defints the framework we have in place to dctermine the level of reserves we consider to be necessary for the College and draws upon guidance prnvided by the Lharity Commissioners it] C.C.lY. As of 31 August 2024. the School held total reserves of £14,598k olwhich £13,850k were unresti.1c￿d. Free re5eTves were £645k i.e. funds which the School could gpend on any of its charitable purposes. excluding tangible fixed assers. This figure would be in additioii to restricted funds which c31)nut be utilised fur Dperational expenses. The taiget level olreserves is betweell 2 and 3 months of operating cosrs. which is in excess of current free reserves levels. Commltments and long-term plans The Board of the Trustee remain committed to developing the land and buildings which forni the eiltire campus and will approve capital projects, from time to time, when funds permhL Penslon Llabllltles The School is a membcr of the Teacher5 Pension Scheme which carrie5 an overall ￿nd deficit Because we carry a proportion vf thc fund.s liability with other metnbors of the Scheme the asseL% and liabilitie5 Qf this defined benefits scheme are excluded (rom the resei'ves calculation ds they are not expecred to lead to any short or medium-term cash t)utflow which is not already included in budgeted spending and nei cash inflow5. This is consistent with the Charity Commission guidance. Endowed Assets The assets held in a Permanent EndowrnenL Fund are used Lo generate Income which is applled to meetthe ch3ritable objectives of the College. The fund is to be held indefinitely and the School does not have the power to convert the fund. which comprises land and buildings, intD Income. io **HYMERS COLLEGE** ## **THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024** ## **Financial Review** The Board takes 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 the best possible value for money. At time of writing, the Board is confident that projected pupil numbers, fee income and existing reserves can support the School’s educational programme, however Governors are mindful of a greatly heightened level of political and economic risk facing the independent school sector. The Board operates a responsible financial strategy based on projected revenue, reserves and expenditure based on educational need and will only approve plans 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 prior to 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 Bursar. The total incoming resources for the year, as set out in the Statement of Financial Activities on page 17, amounted to £13,291,886 (2023: £12,088,923). ## **Going Concern** We draw attention to the Statement of Comprehensive Income which reports a surplus of £50,334 and Statement of financial position which shows net assets of £14,312,533. As stated in the Accounting Policies there is no material uncertainty about the School 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 School 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 off-site and we are grateful to them all for their involvement. ``` - 11 - ``` HYMEIiS COLLEGE THE REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 Ststen)ent of Trustee's Responsibilities in relation to the Financial Statements The directors a5 a Board, set out on p2ge 3, lon behalf of the solE corporate trustee, Hymei's College TrusLee Limited) are responsible lor preparing the Report of the Trustee and the financial statetnents in 3ccordance with appliLdble12w and Unitcd Kingdom Accounting Stsndards Iunited KingdDJn Cienerally Accepted Accountin8 PraLtice). The law applicable to Charities In England and Wale5 requires thc trustee to prepare flnancial statements for each fin3ncial year which give a true and fair view of the state of affairs of Ihe charity the group and of the incoming resources and application Df resources of the charlty and the group lor that period. In pi'eparing these financial staternents, the rrustee is requircd to.. select suitable accounting policies and then apply them CDnsiS￿Atly,. observe the Tnethods and principles ID the Charities SORP IFR.£ 1021.. make judgments and estimates thar are reasonable alld prudent., state whether applicable accounting standards have been followed, subjert to any material departures disclosed and explained It) the finallcial statements,. and prepare the financial statements on the going concern basis unless it is inapprDPriate to presun]e that the charity will continue in bllsine.ss. The Trustee is responsible for keeping proper 3ccoun¢ing records that dTsc105e wth reasonable accuracy at any tiTne the financial p051tion of the charity 2nd the group and enablo them to ensure that the financial statemcnts comply with the Charitie5 Act 2011 and Ihe provisiuns of the Trubr Deed. They are also respunsible for saleguardlng the asscts of the charity and the group and hence for taking reasonable steps lor the prevention and detection of fraud and uther irregulai'ities. Governors, Indemnities A.$ permitted by the ArticleE Df Association Df the corporate trustee, Hymers College Tn15tee Limited, the governors have thc benefit of an indemnlty which is a qualifying third-parry indcimnity provision as defined by section 2J4 of the Companies Act 2006. The indemnitywa.sin force throughout the lastfinancialyear and is Currcntly in force.The Charity also purchased and maintained throughout the financial year Tri￿re¢s, and OffLcers' liability insiirance in respcct of itself and its Governors. Reporting ofserious Incidents The Governors confirni that any matters ()f contern that have arisen during the year which would require notification to the Chariiy Commissioners have been notificd. InvestmentPollcy UnrestrictedFunds The Governors are required tn invest free monies in accordance with the Trustee Act 2000. All free monies are depDSlted at the bcst rate Of return available whilst still providing a prudent spread ofr. risk. The returii obtaiiied un cash deposits is satisfactory for the year. Restricted Funds Gnd Linked Charlty These Funds include dundtrons by bcnefactors for specific restrirtcd purposes and rhe assets of a separate and legally distinct charity. The Eric Gordon Mallalieu Bursary Fund is a separate charity, but the Charity fnmmissioners issued an Order uniting this charity wirh 14ymers College, the reportin£ Charity, fui ddmiiiistration and acctsunting purposes. Thcrefore, it5 assets are reported as part Lif the fiinds of the Schvul. The Eric Gordon Mallalieu Bursary Fund, Pei¢r Lovell scholar.ship Fund at)d lohn Hymer.% Bursary fund have been established to advante the education of childret) who are disadvantaged by rca%nn of tlieir soci31 and economic circum.staiices by givinR fjnancial a55iStance for suLh children to attend the School. The Huwdrd-mallalieu Scholarship Fiind makes grants to pupils from low income families who go to university and read for a degree In Chemi51ry, Engineering, Mathe￿atiCS or Physics. HYMERS COLLEGE THE REPORT OF THE TRusfEE FOR THE YEAR ENDED 31 AUGUST 2024 Audlt Information We the dlrettors, as a Board. actlng on behalf of the corporate trustee of rhe charity who held office at the date of approval of thc financial statements as set out above each Confir￿ 50 far as we are aware, that.. There is no relevant audit inforrnation of which the charl￿5 auditors are unaware,. and Relevant information is defined as the trustee having taken all Steps that It ought co have tsken to make itself aware of any relevant audit jnforniation and to establish that the audiLor is aware of the itlfortnation. Thi5 report has been prepared in accordance with the Charities SORP 2019 (FRS 102). The Report ofthe Trustee has been approved by the Board of Directors ofthe Trustee and signed on its behalf by: Dr l Kittmer On behalf of the trustee Hymer5 College Trustee limited ..2025 HYMERS COLLEGE INDEPENDENT AUDITORS, REPORT TO THE BOARD OF THE TRUSTEE OF HYMER5 COLLEGE Opinion We have audited the Financial statements of Hymers College (the 'parent ch3rity'l and its subsidiari¢b lthL' 'group') for the year ended 31 Au%ust 2024 which cnmpri5e Con501idated Statemeni of Financial Activities lincorporatingan Income and Expcnditure Accounts), the Balance Sheets. the (.'nnsolidated C2.%h bltsw St3teTnent and nores to the financlal statemeiits, including significant accounting policies. -rhe financial reporting framework that has been applied in their preparation is applicable law and United Kingdnm Accounting Staiidards, inLluding Financial Reporting Srandard 102, lh¥ Financial Reporting Stsndard applicable ill the UK and Republic of Ireland IUnitEd Kingdotn GenerallyAccepted Accounting Pr3Cticel. In our opinion the financial statements.. give a true and fair view of the st8te of the group and parent charitys a(fairs as at 3l Auguft 2024 2nd f thc grcup'5 and the parent charity'5 incoining resources and application ofresources for thc ye3r then ended,. have been properly prepared in accordance with United Kingdom Generally AccÈpted Accounting Practice., and havc heen prepared in 3c¢ordan¢e with the requirements of the Charities A£t 2011. Basis for opinion We conducted our audit in accol￿ance with International Standards on Auditing IUIf at least twelve months from when the financial %tatements are 3Uthorised for issue. Our responsibilities and the I'esponsibilities ol the tn15tees wlth respecr io golng cuncern are described in the relevant sections ot this report. Other Informatlon Ouropinion on rhc financial sratemenrs does notcover the other inforniation and, exceptt(J the extent otherwise explicitly stated in our reporL we do not express any form of assurance conclusion thereon. The trustees are responsible for the other information. The other information comprises the information included in the annual r2pDrL Dther than the fiiianci31 statetnents aiid uur auditors report thereun. Our responsibility is to read the other information and. in doing 50, con.%ider whether the other information is materially inconsistent with the flllancial statcments or our knDwledge obtsined in the covi'se of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or app3rent material misstatements, we are required tu detem)ine whether this gives rise tu a material mi55tstenient iii the financial stateinents themselves. If, based Dn the work we have performed, we conclude thJt there is a Ma￿rial misstatement of this other infnrniatxon,. we are required to repori rhat fact. We have nothing to report in thi5 regard. HYMERS COLLEGE INDEPENDENT AUDITORS. REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE Matter5 on which we are required to Report by Exceptio We have nothing to report in respect of the following matters in relathon to which the Charities IAccounts and Reports) Regulations 2008 require us to report toyou If, in our opinion.. the information given in the Trustees, Annual Report is inconsistent in any material respect wtth the financial statements., or the parent charity has notkepisufficlent accounting rccords., or the parent charity's fLnancEal staternents are not in agreernentwith the accoundng records and return5; or we have not received all the informativn and explanations we require for our audit. Responsibilities of Trustee As explained Inore Fully in the Trllstee's Responsthilities Statement set out on pages 12, the trustees are responsible for the prcpardtion of thc financial statemcnts and for being satisfied that they give ? tsve and fair view, and for such internal control as the trustees determine is necessary to enable the prepardtlDD of fLnar]cial statements that are Iree from material misstatemenL whether due io fraud or error. In preparing the financial gtatementS, the trustee5 are responsible for assessing the group and the parent charitys ability to continue as a gaing concern, disclosing, as applicable, matters related to going concern and iising the going concern basis of accounting unle.s.% thc trustees either intend to liquidate the group orthe parent charity or to cease operations, or have no re311stlc alternatlve but to do so. Audltorfs Responslbllltles for the Audlt of the Flnanflal Statements We have been appointed a5 auditors under the Charities Act 2011 and report in accordance regulaUot)s rnade under that Act Our objectives are to obtain rEasunable assurance abDUt whether the group and parent financial statements as a wliole are free from material rni&statement, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance i5 a high level of assurance, but IS Dot 3 guarantcc that an audit conducted in accordat)ce with ISAS [UK) will alway5 dctect a material misstatement when It exlsts. Mi55tatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could i'easonably be expected to influence the economic decisions uf users taken on the basis of these financial statemen Irregularities, including fraud, are inst3nces ofnon-compli2ncewith laws and regulatiorts.we design procedures in line with our rosponsibilities, outlined abovc, t(J detett material missratements Iii respecr of irregularitie%, including fraiid. The specific procedures for thi.% engagement and the extent to which these are fdpable of detecting irregulariknes, including fralld are detailed below. Identifying and assesslng rlsks re13ted tv irregularities.. We 8sses5ed the susceptibility of tlie group and parent charity's firtanrial 5tsteTnents ta material n]isstatement and how fraud might occur, includinR thraiigh discussions with the tru.stees, discussion.% within our audit team planning meetin& updating our record of internal controls and ensuring these controls operated as intended. We evaluated PDssible incentlves and opportuntties for fraudulenr manipulation of the financial ststemenrs. We identified laws and regulations that are of significance in the context of the group and parent Lharity by discussions wirli trustees and updating our understanding of the sector in which the group and parent chariry operate. Laws and rcgulations of dircct significance in the contcxt of the group and parent charity include the Charities Act 2011. the Charitles (Accounts and Reports) Regulatlons 2008 and guidance issued by the Charity Commission for England and Wales. thc Indcpcndent School Stsndards are found in thc Education and SkillsAct 2008 and guidance issued by the Department for Education. HYMERS COLLEGE INDEPENDENT AUDITORS. REPORT TO THE BOARD OF THE TRUSTEE OF HYMERS COLLEGE Audit re%ponEe to ri5k5 identtfied.. We considered the extent Df compliance with thesc laws and regulat10115 as part of our audit proredure5 Oll the related financial statement items including a review of financial staternent disclosures. We reviewed the parcnt charit>¢s records of brcacheb of laws and regulations, minLltes of rneetings and correspondence with relevant authorities to identify poiential matlirial tnisstaten]ent5 arising. We discussed the parent charlty's policies and procedures lor compliance with lawsand regulatiuns with members of management responsible for compliance. During the planning meeting with the audicteam. the engageTJ]ent partner drew attention to the key areas which might involve non-compliance with laws and rogulation* nr fraud. We enquired of management whethcr they were aware olany instances ofnon-compliance with laws and rcgulation5 or knowledge ofany actual,suspected or alleged frau(l. We addressed the risk of fraud through mJnJgemenl override of controls by tesiing the appropriateness of journ31 entries and identifying any significant transactions that were unusual oj. outslde the norn)al course of busine&%. We 3.sscssed whether judgemertL% rnade in making accounting estirnates gave rise to a possible indicadoll of manzgernent bias. At the completion stsge olthe audit, rhe cngagernent partner's review includid cnsuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliancL Wlth IdW5 and regulations and fraud. There areinherentlitnitations in the auditprocedures described 4ibuvE and the furtlierremoved non-cornpliance with laws and regul)iions is from the events and transactions reflected in the financial statLmcnts, the le55 likely we would become aware of it. Also, the risk ot.not detecting 3 material Tnisstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraiid may involve deliberate concealment by, fur exdtnple, forgery or intentional mL8representatlons, or through collusion. A further de5criptioi) of i)iiJ' responsibilities is available un the Financial Reporting Courlcil's website at.. This description forms part of our auditoH5 report. Use ofour Report This reporl 15 made 501ely to the p3rent charity's trustees. as a body, in accordance with Part 4 of tlie Charities (Accounts and Reparts) Regulatiun$ 2008. Our audit work ha5 been undei'taken so that we mlght state tLF the parent charily trustees those mattcrs wc arc rcquired to state to them in an auditor's report an(1 for no other PLirpose. To the fullest extehtpermitted hy law. we do not accepr Dr assiime responsibility to anyone other than the parent charity and the parent charitys tru.stees as a body, for our audit work, for this report or for the opinion5 we have formed. [.(FI LLe Saffery LLP Chartei'ed Accountants 10 Wellington Place Leed5 LSI 4AP Statutory Auditors Date.. 4 June 2025 Saffery LLP is eligible ro act as an auditor in terms of section 1212 octhe Companles Act 2006 HYMERS COLLEGE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGusf 2024 Unrestricted Restrirted Funds Funds Endowment uThd 2024 Total 20Z3 Income Note Donation5 and legacies 21,773 159,352 191,125 57,449 Orhertradin¥acdvitles Invcsttnent intotne L41,275 141,275 71,243 42,148 42,148 19,669 Charitsble acrivities.. Tuition and associated irtcome 12,763,911 12,763,911 11,848,809 AncillarytraditbgincDtne 120,719 120,719 78,520 Other Incoming resources 32,70B 32,708 13,233 Total Sncome 13,132.S34 IS9,352 13.291.886 12,088,923 Expethditsre Ralsln8 funds.. FundraisSng 126,937 126.937 123,645 Trading cost olgoods sold 13,406 13,4D6 24,101 Charitable actlvlties.. Tuition and associated costs 13,173,387 L86 13,A73.573 12,228.548 Other Pension deficitreduction costs- interest 7,16 536 536 844 Total expenditsre 13,314,266 186 13,3J4.452 12.377,138 Net (expendfithre)/lntome 1181,7321 159.166 122,566) (288,2151 Tax on profit on rrading athvlties Remeasurement of pension defirit Fund transfer (5.8161 12,164 95,594 [5.816] IZ,164 1366] {12.025J 16 L7 195,594) Net movement in fvnds 179,790] 63,572 (1*218) [300.606) Fund balantes brDught forward at I Septeinber 2023 13,639,419 524,754 164,578 14,328,751 14,629,357 F￿nd balances carr5ed forward at 31 August Z024 17 13,559,629 48B,326 164,578 14,312,533 14.328.751 Ana]y5is of the previous yearby fund is 5umrnarised in note 26. All incoming resources and resources expended are derived from contlnuing activfities. All gains and losses recognised in theyear are included above. There is nn materi31 difference between the net incoming resources for the financial yearstated.abov¢ ond their histnrital cts%t% equivalents. Permanent endowment ftjnds are held for income generatlon and the governors do not have the powcr to spcnd th¢ capita]. 17 HYMERS COLLEGE BALANCE SHEETS- 31 AUGUST 2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Note Fixed assets Tangible assets Investments io 13.673.786 13,906.188 12.024,718 1.179,743 12.178.672 1.179.743 12 Total fixed a55ets 13,673,786 13,906,188 13,204,461 13,358,415 Current assets Stocks 27,916 20,373 27.916 20,373 Debtors Cash at bank and in hand 13 67.3,730 2,472,150 489,243 1,941,239 1.387.808 2,437,233 1,325,1129 1.850,506 Totsl current assets 3,173,796 2,4SO,865 3,848,957 3,196,7U8 Creditors- arnounts falling due within one year 14 11.889,302) 12.001,478) 11,875,885] (2.04 7.5741 Net current assets 1,284,494 449,387 1,973,072 1.149,134 Total assets less current Ilabllltles Provision for pensiun defjcit Creditors due aftcr onc year 14,958,280 14,4431 1641,3041 14,355,575 126,8241 15,177,533 14,507.S49 (26,824) 16 14 (4,44.4) 1641,304) Total net assets 22 14,312,S33 14.328,751 14.S31,786 J4.480,7ZS The funds of the charity. Unrestricted Income funds Restrlrted funds Other restricied funds Cenrenary & l Hymers Bursary Funds Other funds Endowment ￿ndS Permanent Endowment ￿n￿ E G Mallglieu Bursary fLind 17 13,559,629 13,639,419 13,778,882 13,791,393 17 124,962 126.182 124,962 126.182 17,18 4S7.585 394,068 4.S04 4S7.585 394.068 17,20 5,779 5,779 4,504 17,21 17,19 164.578 164,.578 164.578 164.578 Totsl charity funds 17 14.312,533 14,328,751 14.531,786 14,480,725 ThL fir iicial staternents on pages 17 to 51 were approved by tht Board of the fDrporate triLStee on .202g aiid were signed on their behalf by.. Dr l Kittin On behalf of the trustee mLrs College Trustee Limited 18 HYMERS COLIEGE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUSf 2024 2024 20Z4 2023 2023 Note Netcash (oufflow)linflow from operatingactlvlties 1192.509) 76.866 Cash flows from fin¥ndng activiiles (fees in advance) 1.208.078 Cash flows from Investlng actlvitles Interest from investments 42,148 19.669 Purchase of tangible flxed assets (526.806) (953,885) Net cash ourflow from Investing activities (484.658) 1934,2161 Cash inflowl(outflow) 530.911 1857.3501 Nct fund5 at I SEPtember 2023 1.941,239 2,798,S89 Net ￿ndS at 31 August 2024 2,472,150 1,941.239 HYMERS COLLEGE NOTES TO THE CONSOLIDATED CASH FLOW sfATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASII INFI.OW FROM OPERATING AcrivtTIES 2024 2023 Net incominglloutgoing) resources 116,218) (300,6061 Depreciation 759,208 725,736 742.990 425,130 Interest receivable [42,148) 119,669) Unwinding of discountEd pension prDVlSion Pension deficit payment in year **CREDITORS – AMOUNTS FALLING DUE WITHIN ONE**||**YEAR**||||| ||Group 2024|Group 2023|||Charity 2024|Charity 2023| ||£|||£|£|£| |Trade creditors|181,354|||362,482|180,750|361,878| |Amounts owed to group undertakings|-|||-|-|83,776| |Taxation and social security|300,385|||610,203|300,385|610,203| |Accruals|185,583|||375,142|174,619|339,292| |Deferred income|323,176|||400,527|323,176|400,527| |Composition fees|566,775|||-|566,775|| |Other creditors|332,029|||253,124|330,180|251,898| ||________|||________|________|________| ||1,889,302||2,001,478||1,875,885|2,047,574| |**CREDITORS – AMOUNTS FALLING DUE AFTER ONE YEAR**||||||| ||Group 2024|Group 2023|||Charity 2024|Charity 2023| ||£|||£|£|£| |Composition fees|641,304|||-|641,304|-| The composition fees are expected to mature as follows: Within one year - £566,775 Within one to two years - £352,643 Within two to five years - £288,661 ``` - 36 - ``` HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) IS. FINANCIAL INSTRUMENTS The group has the following financial instruments: Financial assets that are debt instruments measured at amortised cost Trade debtor5 Amounts owed by group undertaklngs Qther debtors Group 2024 Group 2023 Charity 20Z4 Charity2023 361,750 279,446 360,110 272,197 711,8S6 843,963 41,928 13,596 41,790 13,459 403.678 293,OtrV2 1,113,756 1,129,619 Flnanclal Ilabllltles that are debt instrument5 ￿eaSured at amortlsed tost Trade creditors A Tnount5 owed to group undertakings Accruals Other creditors Group 2024 Ciraup 2023 Charity 2024 Charity 2023 181,354 362,4.82 180,750 361,878 83,776 185.S83 332,033 375.142 2S3,124 174,619 330.181 339.292 2SI,898 698.970 990,748 685,550 1,036,844 There are no fin3D¢ial instrnment5 rnea5ured at fairvalue. 37 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 16. PROVISION FOR LIABILITIES AND CHARGES The provision in respect of the pension deficii relates to both the Group and the Charity. which has been explained w2thin note 23. Provision in respect of pension deficit reducbon 2024 Provision in respeLt of pensioll deficit reduction 2023 I September 2023 Increase in the year Unwinding of discount Paymeni made in year Amendments to contrlbution schedule 26.824 112,164) 536 110,7531 24,708 12,025 844 110,753) 31 Augiist 2024 4,443 26.824 17. FUNDS Group Funds Unrestricted income fvnds I September 2023 Income Expenditurc, gaiE)s, losses ar]d transfer5 Transfer to assist with the purchase of fjxed assets 13,639,419 13,132,534 113,307.918) 95,594 31August2024 13,559,629 Group Funds Unrestricted inc1j￿e funds I September 2022 Income 13,965,580 12.040,150 112,366,311) Expenditure. g¢Lins. losses at)d tran5fer5 31 August 2023 13.639.419 38 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 17. FUNDS (corrriNUED) GTOUP Funds Restricted Income Mallalieu Bursary Fund. endowment Other Restricted funds Centenary &IH Bursary Funds Other Endowmetjt nds fund Total I Scptember 2023 164,578 126.182 394,068 4,504 689.332 Income 94.374 63,703 1.27S 159,352 Expenditure* gains, losses and transfers 11861 [186) Fund transfers 195,5941 195,594} 31August2024 164.578 124,962 457.58S 5,779 752,904 Unrestricted income ￿ndS 13.559.629 Restrirted inCOTne funds (including linked charity) 752.904 Total fund5 14,312,533 39 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ICONTJNUED) 17. FUNDS {CONTINUEDI Group Funds Restricted income Other Restricted funds Centenary &IH Bursary Funds Mallalieu Bursary Fund Other Endowment funds fund Totsl I Septeniber 2022 164,578 139,280 356.060 3.859 663.777 Income 10.000 38.128 645 48.773 Expendlture. gains. losses and transfers (23,098) (120) 123.218) l.und transfers 31 August 2023 164,578 126,182 394,Q68 4,504 689.332 Ilnrestricted income funds 13,639,419 Restricted income funds lincluding linked charity) 689,332 Total tund5 14,328.751 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2024 (CONTINUED) 17. FUNDS (CONTINUED) Charlty Funds Restrlcted Income Other Centemary Restrlcted &IH funds Bursary Funds Mallalleu Bursary Fund Endowment Fund Other Funds Total I September 2023 164,578 126.182 394.068 4,504 689,332 Income 94.374 63,703 1,275 159,352 Expenditure, gains. losses and transfers [186J [186) Transfer of utilised resources 195.S94} 195,594) 31 August 2024 164,578 124,962 457,585 5,779 752,904 Unrestricred Income funds 13,778,882 Restricted incorne funds lincluding linked chariiyl 752.904 Total funds 14,531.786 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 17. FUNDS (CONTINUEDJ Charity Funds Restrirted Income Other Restricted funds Centenary &IH Bursary Fund5 Mallalieu Bursary Fund Other Cndowment funds fund Total I Stptember 2022 164,578 139,280 356,060 3,859 663,777 Income 10,000 38,128 645 48,773 Expenditurei gains. losses and transfvrs Transfer of utS1ised resources 123,0981 Iizo) 123,218) 31 August 2023 164,578 126,182 394,068 4.504 689.332 Unrestricted income funds 13,791,393 Restricted income funds (including linked charity) 689.332 Total funds 14,480,725 There is no requirement to include the Charity's Statement of Financial Activltles within these financial statements.The College's gross income for theyearwas £13,281.777 [2023.. £IZ,040,150).TILe net incomeand increase irt funds for the year was £117,612 (2023...£288.2151. HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 18. CENTENARY AND IOHN HYMERS BIJRSARY FUNDS Group and Cbarity 2024 2023 I September Bequest5', donations and accrued interest Applied for bursaries during theyear Fund transfers 394.068 63,703 1186) 356,060 38,128 11201 31 August 4¥57,585 3Y4,068 The Centenary Bursary Fund was set up to provide bursaries atthe discretion of the Headmaster. It consists of restricted funds donated for the purpuse. The lohn Hymers Bursary Fund wa5 launched to provide future support for a551Sted pupil5. 19. LINKED CHARITY: E G MALLALIEU BURSARY FUND Group and Charity Bursary. Scholarship Funds Property Fund 2024 2023 I September 202312022 Interest Transrer to bursary (und 46.325 118,253 164.578 164,578 31 August 202412023 46,325 118,253 164.578 164.578 The EG Mallalieu Bursary Fund is a separate charity registered in 2006 and linked tu Hymer5 College by the c.harity CoTnmission for administratiun and accounting purposes. Therefore, the a55et5 of the charity are repnrted Jn the.se accnunts, but separately identifled. The purpose of the charity is to advance the education of persons who are disadvantaged by reason of their soci21 and EtunDmit circurnstances by giving financial as.%i.%t3nte for such persons to attend the school. The Howard-mallalieu .Scholarship Fund, a sub-fund, was esr3blishcd to assist such puplls mo￿nE to iiniversity education. The capital ofthe E G Mallalieu Bursary Fund 15 held a5 an endowtnent and the income produced from this will be used to provide bursaries by the trustee, Hymers College Trustee Lirnited. A funds transfer has been made during the year from the endowment fund to the restricted fund to be applied for bursaries. This h]nd is reported as an asset of Hymers College because the charitie5 have the same trustee and the financial contribution the college receives from bursaries towards its charitable purpose. 43 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUEDJ 20. OTHERFUNDS Group and Charlty Development donations T.ovell Fund Prize Funds 2024 2023 I September Donation, gift aid and interest 4.-404 4,50 3,859 1.275 1,275 645 Cost Transfer to bursary fund Transfer of utilised resource5 31 August 5.779 5,779 4,S04 The IA)vell Fund has been established in memory ofPeter Lovell for the purpose of creating scholarships at the discretion of the Governors, and transfers to the IH bursary fund. The developmentdonations have bee￿ given towards the future development ofthe premises ol the Charity and Include receipts frorn 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 chadtable obloctive5 and the appropriate transfer made to unrestricted income funds. 21. ENDOWMENfFUND The Pernianent Fndowment Fllnd comprises 3 gift of endowment of land athd building5 extending to 8.43 hectsres situated to the sallth of Sunny Bank 2nd the wcst of Hymers Avenue. No value has been ascribed to this filnd due to its historical nawre. There is no power vested to the fioverllors to convert the capital, made up of land and buildings into income. 22. ANALYSIS OF NEf AssEfs BEfwEEN FUNDS The net assets are held for the various funds as follows.. Net current assets/ Iliabilitiesl Group 31 August 2024 Fixed assgt investments Tatlgible fixed assets Pensions dEficit É Total Restricted and endowed funds 752,904 752.904 Unrestricted funds 13.673,786 (109,714) 14.443) 13,559.629 13.673,786 643,190 (4.443) 14,312,533 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEARENDED 31 AUGUST 2024 (CONTINUED) 22. ANALYSIS OF NET Assrfs BETWEEN FUNDS (CONTINUED) Net current a5sets/ Cljarity 31 August 2024 Fixed asset nvestments Tangible f￿ed assets Pension8 defici¢£ Total Restricted and endowed funds 752.904 752.YU4 unrestr1c￿d funds 1,179,743 12,024,718 578.864 (4,4431 13.778.882 1,179,743 12,024.718 1.331.768 [4.443) 14,531,786 Net current assets/ Oiabilitiesl Group 31 August 2023 l.'ixed asset investments Tan8ible fixed assets Pensions delicit £ Total Restricted and endrjwed funds 689,332 689,332 unre.stricted funds 13,906.188 (239.94£) (26,8241 13,639,419 13,906.188 449,387 (26,824) 14,328,751 Nel current a5sets/ (liabilities) Pensions deficit £ Charlty 31 August 2023 Fixed asset investments Tangible fixed assets Total Restricted funds 689,332 689,332 Unrestrirted fund5 1.179.743 12.178.672 459.802 13,818,217 Pensions deficit (26,1124) 126,824) 1,179,743 12.178,672 1.149,134 {26,8241 14,480.725 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 23. PENSIONS There are two peiision scheme.8 in opcration for emplayees ol Hymers folle8e. These are'l'he Vensions Trust Growth Plan for Support sraff and th¢ Teachers, Pension Schernc for teaching staff. The total pension cost to the Charity tor theyEarwas £1,263,374 {2023.. £1,139,605). Both sch¢mes are multl-employer schcme5. It is not possible for the Charlry to obtain suffi'cient information to enable itto accountforthe schemes as dcfined bcnefitschemes. Therelore, iL3ccounts fnrtheschemes as defined contrlbutivn schemes in line with paragraph 17.18 of the Charities SORP 2019 [FRS 102). The Pensions Trust Growth Plan Thc Charity participates in the scheme which provides benefits to some 950 non-associated participatsng employer5. The scheme is a defined benefit scheme in thc UK The scheme is subjecr ¢0 the funding legislation oiittined in the Pensions Act 2004 whlch came into force on 30 Deceniber 2005. This, tugether wlth documents issued by the Pensions Regulaior and TeLhr]ical Actuarial Stsndards issued by the I'inancial Reporting Council, set out Ihe framEwurk for fiindinK defined benefit otcllpatinnal pcnsion schemes in the UK. The scheme is classified as a 1ast-man stsnding arrangement,. Therefore, the Chariry is potentially Ilablo for other participating employer5, obligation5 ilthose eEtLployei's are unable ro meer rheirshare ofthe Scheme deficir followhng withdrawal from the scheme. Participating employers are legally required to meet thelr share vf the 5cherne 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 £926.4rn and a deficitof£131.Sm. To eliTninatc this funijing shortfall. the trustee has asked the participating employers to Pay addltl)nal contrlbutiorts to the Scheme as follows.. DeficTtcontributions From l April 2019 to 31 January 2025.. EII,243.000 per annum (payable tnonthly and increasing by.3% each year on l April). 'I'he recovery plan contributions are allDcated to each participating etnpluyer in line with their estimateil Share of thr serie.s l and Series 2 scheme liabilities. Where the .f£heme is in deficit and where the charity has agreed to a dehcit funding arrangelnent the charity recognises a liability for thi5 obligation. The amount recognised is the net present Wdlue of the deficlt reduction Lvntributions payable un(ler the agreement thdt rLl¢itC5 to the deficiL The present value is calcvlatcd using the discount rate detailed in these disclosures. The unwinding of tlie discount rate is recokniscd as a finance cosL Presen¢ values ofprovi.fioll5 31 Augu.%t 2024 31 August 2023 31 August 2022 4,443 26,824 24.708 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEARENDED 31AUGUST 2024 (CONTINUEDJ 23. PENSIONS (CONTINUED) The Pensions Trust Growth Plan (continued) Assumptions The discount rdte used was 5.13% (2023.. 6.Ot¥%) and is the equlvalent sittgle dlscount rate which, when used to discount the future recovery plan CDntributions due, would give the sarne re5111ts as using a full AA corporate bond yield ¢urve to discount ihe same recovery plan contributions. The following schedule details the deficit contributions agreed bEtween the Charity and the 5cheTne at each year end period.. Year ending 31 August 2024 £OOOs 31 August 2023 £OOOs li 31 Augllst 2022 I£OOOs li Year I Year 2 li Year 3 Ye2r 4 Year S Year 6 Year 7 Year 8 Year 9 Year 10 The Charlty must recognise a liability medsured ds the pre5entvalue ofthe COTJtributions payablethat arise from the deficit recovery a8reen)ent and the resultinK expense in the incornc and expenditure account i.e. the unwinding of the discount rate as a finance c05t in thc period in which it ari.%es. It is thcse coniribucions thathave been used to derive the Charity's balance sheet liability. Contributions are made at the followng rate5: Employee Employer Automatic Enrolmcnt Opted in Automatlc Enrolment Opted out io% As at the balance sheet date there were 76 {2023.. 76) active members ofthe Growth Plan ih Series 4 of the Plan. ofwhom 8512023.. 35) are members olthe niinirnum contribution scheme. This series carries no forrn of capltal guarantee and is 5ti11 regarded as a defined cr>ntribution scheme. Future supportstsff apptslDrment% will also be enrollcd into this.%eries. There are 1212023.. 12) memhers and a nurnber nf deferred member5 or pensiuners also have Invtstmet)ts In previous series. and it is rhese previous contributions tu which this further liability attaches. All expense and liability is allocated to unrestricted tunds. HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 20Z4 {CONTINUED) PENSIONS (CONTINUED) Teacher< Penslon Scheme The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers. Pensions Re%ulations 2010 las amended) and The Teachers, Pension Scheme Regulation.% 2014 las amended). Members contribute on d.pay as you gD" basis with contributions from members and the employer being credited to the F￿cheqVeT. Retirement and Dther pension benefits are paid by public funds provided by Parliameni. The eniployer contribution rate is set by rhc Secretary of State following scheme valuations undertaken by the Goverr]mentActuary's Department. The most recenta¢tU3ri31 valuation of the TPS was prep2red as at 31 March 2016 and the Valuation ReporL which wa5 published in March 2019, confirmed that the employer contribution rate for the TPS would increase frum 16.40/0 to 23.60kn from I Septembpr 2019. Employers arc a150 required to pay a scheme 2dmini5tration levy of 0.08% giving a fotal employer contribution ra￿ 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 Directlon5. as they applied at S March 2019. 14owever, the assumptions were considered and sei by the Department for Education prior to the ruling in the 'McCloud/Sargeant Case,. This case has required the courts to cunsider cases regarding the Implcmentation of the 2015 refnrms to Public Service Pensions including the Teachers, Pensions. The 2020 v31uation was confjrmed in October 2024 wlth a further 5% increase In employer contributions to 28.68% effective from the l&f April 2024. The charity also cantribiitè.s to two group personal peTbsion plans for.support stsff, the costs of which Jre also charged directly to the statement of financial actlvities. 48 HYMERS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2024 (CONTINUED) 24. REIATED PARTIES In the year S Governors (2023.. 5) and 4 people with significance influence [2023.. 4) over the Charity had children enrallcd at the college at the date of the financial statements. The fees charged In respect of their education are ai the normal, arm's length rate5. No governurs reccived payment froin the Charity except in reimbursement of allowable expen5e5. Due to the nature of the CharIt￿S operations and the cornp051tion of the Board of Governors (being drawn frorn local public and privatc sectur urganisdtiunsl Irdnsactions may occasionally take place with urganisauons in which a member of the Board of Governor5 niay have #n Interest All suih transaitions involving organisations in which a mernber OF the Board of Governors may h3ve an interert are conducted at arm's length and in accordance with the chari￿s linancial regulations and normal procurement procedures. Transactions bctw¢en the Chariry and its subsidipries during the year are 35 follows.. 2024 2023 Income.. Intere.%t receivable The College Enterprises Illulll Limited Ground rent- The College Enterprises (Hull) Limited Management charges- Botsnic Sidings Lirnited 38,151 38,046 1,000 1,000 31,188 17.832 xpendittire Off)te £osts- The School Shop Illullj Limited Rent- The SrhoDI Shop (Hull) Limited Facilities hire- Botanic Sidings LiTnited Rent- Botsnic Sidings Lirnited 24.101 41.000 63,901 551 41,UOO 62,871 5SI Intra-group balance.s between the Charity and sllhsidiaries attht year end are as follows= 2024 2023 Amounts owed by group undertskings.. The School Shop IHulll Limited The College Enterprise.8 (Hull) Limited Botanic Sidings ljimited 32.320 589,536 90,000 32,000 637,963 174.000 711.8S6 843.963 Included in the amount owed by The School Shop (Hulll 14imitcd is a Inan balance of £32,000 (2023.. £32,OOOJ which is .subiect to iDtcrest at a rate ol 1% per annum. Included wlthln the amount owed by The College rnterprises (Hull) Limited is a loan balance of £58D.05012D2.1.. £580,050) that bore interest at 6.5% per annum, which was repayable on or after 31 July 2015 and is secured on the a55Cts uf the subsidiary undertaking. Included in the 3rn0unt owed by Botanic Siding5 Limited is a loan of £90.000 (2023.. £174,000) whlch is subject to interebt at a rate Df2.586 per annum. HYP*lEIS COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 24. RELATED PARTIES {CONTINUED) 2024 2023 Amounts owed to group undertakings.. The School Shop (Hull) Limited Botanic Sidings Limited S6.746 27.030 83.776 2S. POST BALANCE SHEET EVENTS There are no post balance sheet events to note. HYMERS COLLEGE NOTESTO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUEDI 26. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIFS Unrestrlrted Funds Restricted Funds Endowment Fund 2023 Total Income Note Donations and legacies 8,676 48.773 57.449 Oihertradingactivities 71,243 71.Z43 Tnvestment Income 19,669 19.669 Charitsble activitie5'. Tultlon and assotSattd Income IIM48,B09 11,844809 Ancillary trading income 78,530 74520 Other illCDmingresources 13,Z33 13.233 Totsl Incorne 12,040,140 48.773 IZ,088,923 ExpeNdI￿re Rai.%ing funds.. FuDdraising 123,645 123,645 Trading cost of good5 SDld 24,101 24.101 Charitable activitie5'. Tuition and assoc12ted costs 12,205,330 23,218 12,228,548 Pension defitit reduttion osts- interest 7,16 844 844 Total expenditure 12.353,920 23,218 12,377,138 Net IntDme 1313,770} 2S.SS5 (288,215) Tax on profit on trading activities 1366) (366) Remeasurement of pension deficit 16 112,02SI (12,025) Fund tran5feT 17 Net rnovementin funds 1326,161) 25,555 (3110,606) Fund halaiices broughtforward at I Septetnber 20ZZ 13.965,580 499.199 164.578 14.629,357 Fund balance5 carrfed forward at 31 August 2023 17 13,639,419 524,754 161,578 14.3Z8.751 51