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2020-07-31-accounts

Contents Page
Governors' Report 1-7
Report ofthe Independent Auditors 8-9
Consolidated Statement of Financial Activities 10
Consolidated Balance Sheet 11
Company
Balance Sheet		 12
Consolidated Statement of Cash Flows 13
Notes to the Financial Statements 14-22

Mr T G N Woodhouse
Officers
The Headmaster: Mr C P Rose BEd (Hons) until 31 August 2019
Mr C Carlier from 1 September 2019
The Bursar (8 Company
Secretary): Mrs M Jackson
MA until 30 March 2020
Mrs V Smith from 30 March 2020
Address: Lombard Street
Shackleford
Godalming
Surrey GUS 6AS
Registered Office: 5 Robin Hood Lane
Sutton
Surrey SM1 2SW
Key Management Personnel
The Headmaster
The Bursar
Advisors
Bankers: Barclays Bank Pic
1 Churchill
Place
London
E145HP
Solicitor: Barlow Robbins
55-56 Quarry Street
Guildford
Surrey GU1 3UE
Auditors: Jacob Cavenagh
8 Skeet
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Website www. aldro. org

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2020 2019
Cash provided
by operating
activities (see below)		 266,113 288,834
Cash flows from investing
activities
Payments
for fixed asset additions
Proceeds on fixed asset disposals		 (237,017) (392,376)
Cash (used in) investing
activities		 (237,017) (392,376)
Cash flows from financing
activities
Interest paid
(Repayment)/drawdown
of revolving
loan facility		 ( 11,131)
(250,000)		 (
3,641)
250,000
Drawdowns/(repayments)
of long term loans
Cash (used in)/provided
by financing
activities		 305 636 44 505 ( 58714) 187645
Net cash inflow
Cash and cash equivalents
at 1 August		 2019 73,601
340 717		 84,103
256614
Cash and cash equivalents
at 31July 2020		 414~9 4
717
Note: Cash flows from operating
activities
Net (expenditure)/income
Interest payable
included
in financing
activities
Depreciation
Net losses on investments
Loss on sale offixed assets
Decrease/(increase)
in stocks
Decrease/(increase)
in debtors
(Decrease)/increase
in creditors		 ( 79,207)
11,131
282,913
10,224
59,516
9,624
( 28088)		 128,122
3,641
289,654
1,093
4,756
(
709)
( 29,168)
(108555)
Cash provided
by operating
activities		 ~26
113		 ~28834
2020 At 1August
2019		 Cash
flows		 Other non-
cash changes		 At 31Ju/y
2020
E
Cash at bank and in hand
Bank loans within one year
Bank loans after one year		 340,717
(284,969)
(128250)		 73,601
284,969
(340605)		 (45,821)
45 821		 414,318
( 45,821)
(423034)
Total (~72
2)		 ~1796 (~437)
2019 At 1August
2018		 Cash
flows		 Other non-
cash changes		 At 31Ju/y
2019
Cash at bank and
in hand
Bank loans within one year
Bank loans after one year		 256,614
( 34,020)
(~187913		 84,103
(215,980)
24 694		 (34,969)
34969		 340,717
(284,969)
(~I28250
Total 34681 (107M13) (~725 2)

Summary
profit an		 d lo ss ac cou nt Aldro Enterprises
Limited
2020 2019
E
Turnover 21,963 46,052
Rent receivable 1,496 11,026
Other income 864
Cost ofsales and administration
Rent payable		 expenses (71,289)
(15000)		 (41,261)
(15000)
(62,830) 1,681
Interest payable
Net (loss)/profit		 (
561)
(63,391)		 (
457)
1,224
Amount
gifted to the company
Retained
in subsidiary
company		 (63391) (
1 224)
EXPENDITURE ON CHARITABLE ACTIVITIES 2020 2019
Bursaries 165,027 199,179
Teaching 1,827,804 1,827,335
Premises 681,967 698,985
Household
expenses		 465,787 522,320
Support costs ofschooling 614552 551 069
~37
137		 3 798~88
TOTAL EXPENDITURE
Staff Depreciation Other 2020 2019
Grants costs
f		 8,loss costs
Total		 Total
Costs ofgenerating voluntary income 24 24 17,857
Commercial
trading
Bursaries		 165,027 1,053 70,236
71,289
165,027		 41,261
199,179
Direct costs ofcharitable activities 2,136,559 614,544
2,751,103		 2,775,087
Support costs 331,371 282,913 201,129
815,413		 800,684
Governance
costs		 7216 16378
23 594		 23938
165027 247(L)99 ~282 91 ~902 11
3(L26 4M5		 3.858 OM0

F OR TH E YEAR ENDED 31 JULY 2 020 (continued)
NET (EXPENDITURE) 2020 2019
This is stated after charging:
Interest payable
on bank overdrafts
Auditors'
remuneration
—audit		 and loans 11,131
5,904		 3,641
6,150
—other services 10,474 9,575
Depreciation 282,913 289,654
Loss on sale offixed assets
Operating
lease rentals		 ~984 4,756
~128
STAFF COSTS STAFF COSTS 2020 2019
Wages and salaries
Social security costs
Pension costs		 2,013,589
185,454
2 77158'		 1,968,911
182,907
234037
~247 1 9 2M852L5+
The headcount of employees during the year, excluding 2020 2019
the Governors, was made up as follows: No No
Teaching staff 33 33
Teaching support staff 8 7
Domestic and matrons 11 10
Maintenance 3 3
Administration 8 9
Catering 9 11
Cleaning 4
~7
7 RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS 2020 2019
Remuneration paid to Governors
Reimbursements ofGovernors
training expenses to third parties		 639
Reimbursements of travel expenses to 3(2019:5)Governors 614 841

CREDITORS: Amou nts
falling due within		 one year
Group Company
2020 2019 2020 2019
E
Bank loan (secured) 45,821 34,969 45,821 34,969
Short-term
revolving		 loan facility 250,000 250,000
Trade creditors
Fees payable
in advance		 44,858
157,219		 77,895
178,873		 44,858
157,219		 77,895
178,873
Other taxes and social security 47,626 47,448 47,626 47,448
Sundry creditors 308,949 296,035 308,949 296,035
Accruals 29952 71 836 28212 69850
6~442 57056 ~626~ 9~550
Other taxes and so
Sundry creditors
Accruals		 cial sec cial sec cial sec urity

47,626
308,949
29952
6~442		 urity

47,626
308,949
29952
6~442		 47,448
296,035
71 836
57056		 ,
47,626
308,949
28212
~626~
,
47,448
296,035
69850
9~550		 ,
47,626
308,949
28212
~626~
,
47,448
296,035
69850
9~550		 ,
47,626
308,949
28212
~626~
,
47,448
296,035
69850
9~550
The bank overdraft facility, loan and 21m credit facility are secured by a fixed charge over the school's freehold
land
and buildings.
The carrying		 value of the assets charged
was F6,455,086 at the balance sheet date.		 Bank loan and
credit facilities totalling
over 5years.		 E1,500,000were agreed on at an interest rate of1.75'/0 above Barclays' base rate, repayable
13 CREDITORS: Amounts falling due in more than one year
Group Company
2020 2019 2020 2019
E
Bank loan (secured)
Due within
1 —2 years		 47,175 35,510 47,175 35,510
Due within 2 —5years 375,859 92,740 375,859 92,740
Due in more than 5 years
4~2
Q34		 ~12
250		 42
34		 ~12 2M
14 UNRESTRICTED FUNDS
Opening Re/eased/ Closing
balance Income Expenditure Transfers balance
Group 2020
General
Unrestricted
Designated
Fund		 Fund ( 331,127)
6,000		 3,716,150 (3,797,561) 406,927 ( 5,611)
6,000
Fixed Asset Fund
Company 2020		 7004 102
~67 975		 37&1„1M (3 797M&6) (406927) 6 597 175
6597
4
General
Unrestricted		 Fund ( 333,812) 3,708,252 (3,726,272) 406,927 55,095
Designated
Fund
Fixed Asset Fund		 6,000
7004 102		 (406 927) 6 6,000
597175
Group 2019 56~7290 ~37 8252 (~3726 2 2) - 6 658270
General
Unrestricted
Designated
Fund		 Fund ( 241,021)
6,000		 3,924,036 (3,802,067) (212,075) ( 331,127)
6,000
Fixed Asset Fund 6 792 027 212 075 7 004 102
Company 2019 655700() 3~924 35 (~82 067) - 5~67 975
General
Unrestricted
Designated
Fund		 Fund ( 243,706)
6,000		 3,882,775 (3,760,806) (212,075) ( 333,812)
6,000
Fixed Asset Fund 6 792027 212075 7 004 102
M654 321 33)52775 (~760 80 ) - ~67629

2020 Opening
balance		 Income Expenditure Losses Transfers Closing
balance
Development
Fund
Francis Hudson
Bursary Fund		 21,381
46,821		 3,057 (
24)		 24,414
36,597
New Bursary Fund
Christmas
Card Fund		 4,901
1 762
Z48~		 35,977
2 283
41 317		 (27,053)
(
1 812)
(28%89)		 (10224) 13,825
2233
~77 0
2019 Opening
balance		 Income Expenditure Losses Transfers Closing
balance
Development
Fund
Francis Hudson
Bursary Fund		 14,135
47,914		 25,103 (17,857) (1,093) 21,381
46,821
New Bursary Fund
Christmas
Card Fund		 4,901
1 762		 38,082 (38,082) 4,901
1 762
68 712 63185 (&5839) (1 090) 24466

ANALYSIS OF NET ASSETS BY TYPE OF FUND
Unrestricted Restricted
funds funds Total
Group 2020
Tangible fixed assets
Investments		 7,066,030 36,597 7„066,030
36,597
Current assets 588,993 40,472 629,465
Current
liabilities
I ong term liabilities		 (
634,425)
( 423 034)
55~97 54		 77076 (
634,425)
( 423034)
65746~
Company 2020
Tangible fixed assets 7,066,030 7,066,030
Investments 36,599 36,599
Current assets 647,959 40,470 688,429
Current
liabilities
Long term liabilities		 ( 632,685)
( 423 034)
~665827		 77069 ( 632,685)
( 423 034)
67353~
Group 2019
Tangible fixed assets 7,167,321 7,167,321
Investments 46,821 46,821
Current assets 596,960 28,044 625,004
Current
liabilities
Long term liabilities		 ( 957,056)
(
128250)
6678~75		 ~7865 ( 957,056)
(
128250)
~6753 40
Company 2019
Tangible fixed assets 7,167,321 7,167,321
Investments 46,823 46,823
Current assets 592,289 28,042 620,331
Current
liabilities
Long term liabilities		 ( 955,070)
( 128250)
5,~7 2~		 ~74 ( 955,070)
( 128250)
6~71~55

31 July 2020, the outstanding
commitments
for non-cancel
lable
operating
leases fall due as follows:		 .
2020 2019
Within one year
Between two and five years		 9,369
28,106		 9,369
28,106
After five years 19892 29 287
5773Z 56 752