| Contents | Page | ||
|---|---|---|---|
| Governors' | Report | 1-7 | |
| Report ofthe Independent | Auditors | 8-10 | |
| Consolidated | Statement | of Financial Activities | 11 |
| Consolidated | Balance Sheet | 12 | |
| Company Balance Sheet |
13 | ||
| Consolidated | Statement | ofCash Flows | 14 |
| Notes to the | Financial Statements | 15-22 |
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|---|---|---|---|---|---|---|---|---|---|---|
| ALDRO | SCHOOL EDUCATIONAL | TRUST LIMITED | ||||||||
| CONSOLIDATED | BALANCE | SHEET | ||||||||
| AS AT | 31 | JULY 2021 | ||||||||
| 2021 | 2020 | |||||||||
| Note | ||||||||||
| Fixed assets | ||||||||||
| Tangible assets investments |
7,004,025 45 248 |
7,066,030 36597 |
||||||||
| 7,049,273 | 7, | 102,627 | ||||||||
| Current assets | ||||||||||
| Stocks Debtors Cash at bank and in |
hand | 10 11 |
2,154 176,173 344 868 |
2,154 212,993 414318 |
||||||
| Creditors: Amounts | falling due | 523,195 | 629.465 | |||||||
| within one year | 12 | 787 726 | 634425 | |||||||
| Net current liabilities |
(~264 531 | (~4960 | ||||||||
| Total assets less current liabilities | 6,784,742 | 7,097,667 | ||||||||
| Creditors: Amounts | falling due | |||||||||
| after more than one | year | 13 | 419999 | (~423 034 | ||||||
| Net assets | 16 | %364H3 | ||||||||
| Unrestricted Funds |
14 | |||||||||
| General Fund Designated Fund Fixed Asset Fund |
( 6 |
337,788) 6,500 581 644 |
( 6 |
5,611) 6,000 597 175 |
||||||
| 6,250,356 | 6,597,564 | |||||||||
| Restricted Funds |
15 | 114387 | 77 069 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Cash provided by operating activities |
(see below) | 233,230 | 266,113 | ||||||
| Cash flows from investing activities |
|||||||||
| Payments for fixed asset additions Proceeds offixed asset disposals |
(251,848) 3700 |
(237,017) | |||||||
| Cash (used in) investing activities |
(248,148) | (237,017) | |||||||
| Cash flows from financing activities |
|||||||||
| Interest paid (Drawdowns) of revolving loan facility (Drawdowns)/repayment of long term loans Cash (used in)/provided by financing activities |
( 8,058) (~46 474 |
(~54 532 | (11,131) (250,000) 305636 |
44505 | |||||
| Net cash (outflow)/inflow Cash and cash equivalents at 1 August |
2020 | ( 69,450) 414318 |
73,601 340 717 |
||||||
| Cash and cash equivalents at 31July |
2021 | %~68 | |||||||
| Note: Cash flows from operating activities |
|||||||||
| Net (expenditure) Interest payable included in financing |
activities | (309,890) 8,058 |
(79,207) 11,131 |
||||||
| Depreciation | 295,222 | 282,913 | |||||||
| Net (gains)/losses on investments Loss on sale offixed assets |
( | 8,651) 14,931 |
10,224 | ||||||
| Decrease in stocks Decrease in debtors Increase in fees paid in advance |
36,820 44,810 |
59,516 9,624 |
|||||||
| Decrease/(increase) in creditors |
151930 | (2~8088 | |||||||
| Cash provided by operating activities |
|||||||||
| Analysis in changes on net debt | At | 1August 2020 |
Cash flowsf |
Other non- cash changes |
At31July 2021 |
||||
| Cash at bank and in hand Bank loans within one year Bank loans after one year |
414,318 ( 45,821) (4~23 034 |
(69,450) 45,821 653 |
(47,192) 47 192 |
344,868 ( 47,192) (3~75 189 |
|||||
| Total | (~54 Zg |
(~22 976 | (M~&1 |
| Summary profit and lo |
ss accou | nt | Aldro | Enterprises | |||||||
| Limited | |||||||||||
| 2021 | 2020 | ||||||||||
| Turnover | 32,832 | 21,963 | |||||||||
| Rent receivable Cost ofsales and administration Rent payable |
expenses | (8,447) (~15000 |
1,496 (71,289) (~15000 |
||||||||
| Interest payable Net profit/(loss) Amount gifted to the company |
9,385 (~629 8,756 (~8756 |
(62,830) ~561 (63,391) |
|||||||||
| ~63381 | |||||||||||
| EXPENDITURE ON CHARITABLE | ACTIVITIES | Unrestricted | Restricted | 2021 | 2020 | ||||||
| Funds | E | funds E | |||||||||
| Bursaries | 137,166 | 5,413 | 142,579 | 165,027 | |||||||
| Teaching Premises |
1,748,167 721,498 |
1,748,167 721,498 |
1,827,804 681,967 |
||||||||
| Household expenses |
502,040 | 502,040 | 465,787 | ||||||||
| Support costs ofschooling | 555 65D | 358 | 555 4D6 | 614552 | |||||||
| 52l1 | |||||||||||
| TOTAL EXPENDITURE | |||||||||||
| Staff | Depreciation | Other | 2021 | 2020 | |||||||
| Grants | costs | 8 loss | costs | Total | Total | ||||||
| Costs of raising funds | 18 | 18 | 24 | ||||||||
| Commercial trading Bursaries |
142,579 | 2,650 | 5,797 | 8,447 142,579 |
71,289 165,027 |
||||||
| Direct costs ofcharitable | activities | 2,014,226 | 690,267 | 2,704,493 | 2,751,103 | ||||||
| Support costs | 342,182 | 310,153 | 143,543 | 795,878 | 815,413 | ||||||
| Governance costs |
9 831 | 16911 | 26 742 | 23594 | |||||||
| ~42 57 | 2~368 9 |
3K1M | 8565K | 36M7~ | X82M4&5 |
| NET EXPENDITURE | 2021f | 2020f | ||
| This is stated after charging: | ||||
| Interest payable on bank Auditors' remuneration |
overdrafts —audit |
and loans | 8,058 6,150 |
11,131 6,150 |
| —other | services | 10,761 | 10,228 | |
| Depreciation | 295,222 | 282,913 | ||
| Loss on disposal of fixed Operating lease rentals |
assets | 14,931 |
| STAFF COSTS | STAFF COSTS | 2021f | 2020f | |
|---|---|---|---|---|
| Wages and salaries Social security costs |
1,942,856 172,149 |
2,013,589 185,454 |
||
| Pension costs | 253 884 | 277 158 | ||
| The headcount | of employees | during the year, excluding | 2021 | 2020 |
| the Governors, | was made up | as follows: | No | No |
| Teaching staff | 35 | 33 | ||
| Teaching support staff | 10 | 8 | ||
| Domestic and | matrons | 5 | 11 | |
| Maintenance | 2 | 3 | ||
| Administration | 10 | 8 | ||
| Catering | 11 | 9 | ||
| Cleaning | 6 | 4 | ||
| ZB | ZG |
| RELATED PA | TY TRANSACTIONS | 2021f | 2020 |
| Remuneration | paid to Governors | ||
| Reimbursements | ofGovernors training expenses to third parties |
1,045 | 639 |
| Reimbursements | oftravel expenses to 2 (2020:3)Governors | 141 |
| Freehold | Furniture | ||||||
|---|---|---|---|---|---|---|---|
| land and | and | Motor | |||||
| buildingsf | equipment | vehiclesf | Total | ||||
| Cost | |||||||
| At 1 August 2020 | 10,575,774 | 1,414,720 | 99,240 | 12,089,734 | |||
| Additions Disposals At 31 July 2021 |
147,993 10723767 |
98,845 ~44403 1 469 162 |
5,010 (~27948 76302 |
251,848 (~72 351 12269 231 |
|||
| Depreciation | |||||||
| At 1 August 2020 | 4,120,688 | 822,055 | 80,961 | 5,023,704 | |||
| Charge for the year Released on disposals At 31 July 2021 |
154,326 4275014 |
135,300 (~26678 930677 |
5,596 (~27042 59515 |
295,222 (~53720 5265206 |
|||
| Net book value | |||||||
| At 31 July 2021 | ~~448 7 3 | MIL485 | ~77 | ~t)04LQ25 | |||
| At 31 July 2020 | 64~5~6 | ~52~65 | ~12 | 7~06 939 | |||
| INVESTMENTS | Group | Company | |||||
| Shares in | Shares | in | |||||
| Listed | subsidiary | Total | Listed | subsidiary | Total | ||
| investments | undertakings | investments | undertakings | ||||
| Market value | |||||||
| At 1 August 2020 | 36,597 | 36,597 | 36,597 | 36,599 | |||
| Additions | |||||||
| Disposals | |||||||
| Revaluation | 8651 | 8651 | 8651 | 8651 | |||
| At 31 July 2021 | 45246 | 45245 |
| RESTRICTED FUNDS —GROUP AND | COMPANY | ||||
|---|---|---|---|---|---|
| 2021 | Opening | Gains/ | Closing | ||
| balance | Income | Expendi ture | Losses | balance | |
| Francis Hudson Bursary Fund |
36,597 | 8,651 | 45,248 | ||
| Development Fund New Bursary Fund Christmas Card Fund |
24,414 13,825 2233 ZZQ68 |
29,043 5,413 |
( 18) (5,413) (~358 (~5289 |
53,439 13,825 1 875 ~Z |
|
| 2020 | Opening | Gains/ | Closing | ||
| balance | Income | Expenditure | Losses | balance | |
| Francis Hudson Bursary Fund Development Fund |
46,821 21,381 |
3,057 | (24) | (10,224) | 36,597 24,414 |
| New Bursary Fund Christmas Card Fund |
4,901 1 762 |
35,977 2283 |
(27,053) ~1812(~ |
13,825 2233 ZUl69 |
| ANALYSIS OF NET ASSETS BYTYPE OF | FUND | ||
|---|---|---|---|
| Unrestricted | Restricted | ||
| funds | funds | Total | |
| Group 2021 | |||
| Tangible fixed assets | 7,004,025 | 7,004,025 | |
| Investments | 45,248 | 45,248 | |
| Current assets | 454,056 | 69,139 | 523,195 |
| Current liabilities Long term liabilities |
( 787,726) ( '119999) |
( 787,726) (~419999 |
|
| Company 2021 |
|||
| Tangible fixed assets |
7,004,025 | 7,004,025 | |
| Investments | 45,250 | 45,250 | |
| Current assets | 512,922 | 69,137 | 582,059 |
| Current liabilities Long term liabilities |
( 785,886) (~419999 6~11Q62 |
PM438Z | ( 785,886) (~419999 |
| Group 2020 | |||
| Tangible fixed assets | 7,066,030 | 7,066,030 | |
| Investments | 36,597 | 36,597 | |
| Current assets | 588,993 | 40,472 | 629,465 |
| Current liabilities Long term liabilities |
( 634,425) (~423 D34 |
( 634,425) (~423034 |
|
| ~77 | |||
| 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 |
( 632,685) (~423 D34 |
|
| ~77 |
| 31 July 2021, the outstanding commitments for non-cance |
llable operating leases fall due as follows: |
. |
|---|---|---|
| 2021 | 2020 | |
| Within one year Between two and five years |
29,640 100,066 |
9,369 37,475 |
| After five years | 1155 | 10524 |
| 1%352 | 5Z2% |