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|Contents||||Page|
|---|---|---|---|---|
|Governors'|Report|||1-7|
|Report ofthe Independent||Auditors||8-9|
|Consolidated|Statement|of Financial|Activities|10|
|Consolidated|Balance Sheet|||11|
|Company<br>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<br>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<br>Place||
|||London||
|||E145HP||
|Solicitor:||Barlow Robbins||
|||55-56 Quarry Street||
|||Guildford||
|||Surrey GU1 3UE||
|Auditors:||Jacob Cavenagh<br>8 Skeet||
|||5 Robin Hood Lane||
|||Sutton||
|||Surrey||
|||SM1 2SW||
|Website||www. aldro. org||





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





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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Summary<br>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<br>Rent payable||||expenses||||(71,289)<br>(15000)|||(41,261)<br>(15000)|
|||||||||(62,830)|||1,681|
|Interest payable<br>Net (loss)/profit||||||||(<br>561)<br>(63,391)|||(<br>457)<br>1,224|
|Amount<br>gifted to the company<br>Retained<br>in subsidiary<br>company||||||||(63391)|||(<br>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<br>expenses||||||||465,787|||522,320|
|Support costs ofschooling||||||||614552|||551 069|
|||||||||~37<br>137||3|798~88|
|TOTAL EXPENDITURE||||||||||||
||||||Staff|Depreciation|Other|2020|||2019|
|||||Grants|costs<br>f|8,loss|costs<br>Total||||Total|
|Costs ofgenerating|voluntary||income|||||24|24||17,857|
|Commercial<br>trading<br>Bursaries||||165,027|1,053||70,236<br>71,289<br>165,027||||41,261<br>199,179|
|Direct costs ofcharitable||activities|||2,136,559||614,544<br>2,751,103|||2,775,087||
|Support costs|||||331,371|282,913|201,129<br>815,413||||800,684|
|Governance<br>costs|||||7216||16378<br>23 594||||23938|
|||||165027|**2**47(L)99|~282 91|~902|11<br>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<br>on bank overdrafts<br>Auditors'<br>remuneration<br>—audit||and loans|11,131<br>5,904|3,641<br>6,150|
||—other|services|10,474|9,575|
|Depreciation|||282,913|289,654|
|Loss on sale offixed assets<br>Operating<br>lease rentals|||~984|4,756<br>~128|



|STAFF COSTS|STAFF COSTS||||2020|2019|
|---|---|---|---|---|---|---|
|Wages and salaries<br>Social security costs<br>Pension costs||||2,013,589<br>185,454<br>2 77158'||1,968,911<br>182,907<br>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<br>training expenses to third parties|639||
||Reimbursements|of travel expenses to 3(2019:5)Governors|614|841|





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|CREDITORS: Amou|nts<br>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<br>revolving|loan facility|||250,000||250,000|
|Trade creditors<br>Fees payable<br>in advance||44,858<br>157,219||77,895<br>178,873|44,858<br>157,219|77,895<br>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<br>Sundry creditors<br>Accruals|cial sec|cial sec|cial sec|urity<br><br>47,626<br>308,949<br>29952<br>6~442|urity<br><br>47,626<br>308,949<br>29952<br>6~442|47,448<br>296,035<br>71 836<br>57056|,<br>47,626<br>308,949<br>28212<br>~626~<br>,<br>47,448<br>296,035<br>69850<br>9~550|,<br>47,626<br>308,949<br>28212<br>~626~<br>,<br>47,448<br>296,035<br>69850<br>9~550|,<br>47,626<br>308,949<br>28212<br>~626~<br>,<br>47,448<br>296,035<br>69850<br>9~550|
|---|---|---|---|---|---|---|---|---|---|---|
||The bank overdraft|facility,|||loan and 21m credit facility are secured||by a fixed charge|over the school's freehold<br>land|||
||and buildings.<br>The carrying||||value of the assets charged<br>was F6,455,086 at the balance sheet date.||||Bank loan and||
||credit facilities totalling <br>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<br>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<br>Q34|~12<br>250|42<br>34||~12 2M|
|14|UNRESTRICTED FUNDS||||||||||
||||||Opening|||Re/eased/||Closing|
||||||balance|Income|Expenditure|Transfers||balance|
||Group 2020||||||||||
||General<br>Unrestricted<br>Designated<br>Fund||Fund||( 331,127)<br>6,000|3,716,150|(3,797,561)|406,927|(|5,611)<br>6,000|
||Fixed Asset Fund<br>Company 2020||||7004 102<br>~67 975|37&1„1M|(3 797M&6)|(406927)|6 597 175<br>6597<br>4||
||General<br>Unrestricted||Fund||( 333,812)|3,708,252|(3,726,272)|406,927||55,095|
||Designated<br>Fund<br>Fixed Asset Fund||||6,000<br>7004 102|||(406 927)|6|6,000<br>597175|
||Group 2019||||56~7290|~37 8252|(~3726 2 2)|-|6|658270|
||General<br>Unrestricted<br>Designated<br>Fund||Fund||( 241,021)<br>6,000|3,924,036|(3,802,067)|(212,075)|(|331,127)<br>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<br>Unrestricted<br>Designated<br>Fund||Fund||( 243,706)<br>6,000|3,882,775|(3,760,806)|(212,075)|(|333,812)<br>6,000|
||Fixed Asset Fund||||6 792027|||212075|7|004 102|
||||||M654 321|33)52775|(~760 80 )|-|~67629||





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





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|ANALYSIS OF NET ASSETS BY TYPE OF|FUND||||
|---|---|---|---|---|
||Unrestricted|Restricted|||
||funds|funds||Total|
|Group 2020|||||
|Tangible fixed assets<br>Investments|7,066,030|36,597||7„066,030<br>36,597|
|Current assets|588,993|40,472||629,465|
|Current<br>liabilities<br>I ong term liabilities|(<br>634,425)<br>( 423 034)<br>55~97 54|77076|(<br>634,425)<br>( 423034)<br>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<br>liabilities<br>Long term liabilities|( 632,685)<br>( 423 034)<br>~665827|77069|( 632,685)<br>( 423 034)<br>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<br>liabilities<br>Long term liabilities|( 957,056)<br>(<br>128250)<br>6678~75|~7865|( 957,056)<br>(<br>128250)<br>~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<br>liabilities<br>Long term liabilities|( 955,070)<br>( 128250)<br>5,~7 2~|~74|( 955,070)<br>( 128250)<br>6~71~55||



## 

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





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