ALDRO
ALDRO SCHOOL EDUCATIONAL TRUST LIMITED
(a Registered Charity and Company Limited by Guarantee)
and its subsidiary company operating as
Aldro Enterprises Limited
GOVERNORS, ANNUAL REPORT AND AUDITED
CONSOLIDATED ACCOUNTS
For the year ended 31 July 2024
Company Registration Number 00937890
Charity Commission Regi5tration-Number 312072

Aldro School Educational Trust Limited
CONTENTS
Page
Governors, Annual Report (incorporating a Group Strategic Report)
Independent Auditors Report
10
Consolidated Statement of Financial Aclivities
14
Consolidated Balance Sheet
15
Company Balance Sheet
16
Consolidated Cashflow Statement
17
Notes to the Accounts
18

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
GOVERNORS AND DIRECTORS
The Governors of Aldro School are also the directors of the Aldro School Educational Trust Limited. They
have all served in office throughout the year except as stated. They are:
Governors and Directors
K Allen
C Betts
J Ebsworth
D Evans
JBHGeffen
l T Gunner- resigned 16th April 2024
SLHunt
T Johns
T Jones
N Patterson - appointed 14th March 2024
I Waller
C Winchcornbe - appointed 5th De￿rnber 2023
T G N Woodhouse
Officers and Key Management
The Head
The Bursar and Company Secretary
C Carfier
V Smith
Registered office and address
Lombard Street
Shackleford
Godalming
Surrey. GU8 6AS
Auditors
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex. BN44 3TN
Bankers
Barclays Bank PIC
1 Churchill PlaGe
London. E14 5HP
Solicitors
Moore Barfow
The Oriel
Sydenham Road
Guildford
Surrey. GU13SR

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
The Governors (who are also directors of the Charity for the purposes of the Companies Act) present their
Annual Report, together with the Audited Accounts of Aldro School Educational Trust Limited (the Company)
for the year ended 31 July 2024, which are also prepared to meet the requirements for a directors, report and
accounts for Companies Act purposes.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the School's Memorandum and
Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
STRUCTURE. GOVERNANCE AND MANAGEMENT
The company was incorporated on 27 August 1968. and was registered with the Charity Commission and is
governed by its Mernorandum and Articles of Association. Company number: 937890. Charity numb8r'.
312072.
Recruitment and training of Governors
The School's elected Governors are appointed at a meeting of the Govemors. The Articles of Association
allow for a minimurn of five Governors on the Board and a maximum of fifteen. Governors are appointed for
a term of office of three years- they are eligible for re-election for a consecutive period not exceeding three
terms in Offi￿ from the date of their original appointment. This can be extended at the discretion of the Board.
New Govemors are inducted into the workings of the School. including Board policy and procedures, by a
variety of means. including training provided by independent professional l>)dies.
Organisational management
The Govemors, who are also the directors for company law purposes. are legally responsible for the overall
management and control of the School and meet termly. The work of implementing most of their policies, as
well as the day-to-day management of the School. is delegated to the Head and the Bursar. Certain
responsibilities including those of a financial nature are further delegated to the Finance and General
Purposes Committee, Education and Pastoral Care Committee and Govemance Committee, which all meet
termly and report to the Governors meetings.
Key Management Personnel
The key management personnel of the charity as listed on page 1 are in charge of directing, controlling,
running and operating the charity on a day-to-day basis. All diiectors give of their time freely and no director
received any remuneration in the year. Details of directors, expenses and related party transactions are
disclosed in Note 7 to thefinancial statements. The payof the Head and other senior staff is reviewed annually.,
any pay increases make referen￿ to the outcome of the annual perfornance review.
Group structure and relationships
The School has a wholly-owned non-charitable trading subsidiary. Aldro Enterprises Limited. The trading
performance and activities of Aldro Enterprises Limited are discussed on page 5.
OBJECTIVES AND AIMS
The objects of the School, as set out in the Memorandum of Association. are the advancement of education.
Policy of the School
In accordan￿ with the Memorandum of Association, Aldro is a day and boarding school educating pupils
aged 7 to 13 years. In furtheran￿ of these objects the Directors. as the charity trustees, have complied with
the duty in the Charities Act 2011 to have due regard to the Charity Commission's published general guidance
concerning the operation of the Public Benefit requirement urKler the Act.

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
Strategic Aim
In accordance with the Memorandum of Association, Aldro is a day and boarding school educating pupils
aged 7 to 13 years. The School's policy for the public benefit as a charitable independent school is to atlain
the highest academic standards whilst providing the pupils with a full programme of co-curricular activity, an
eduGation founded on Chrtstian values and teaching. and giving them a full appreciation of moral and ethical
values. The School's Vision is to instill in its pupils a life-long love of learning and to make them positive
contributors to society.
General objectives
The School's objectives were as follows:
To ensure that the pupils and families are the primary recipients of benefit, but that the wider
community would also benefit from having well*ducated and well-rounded children growing up and
integrating into society in general. that the whole population would benefit from their skills and talents
nurtured In school, and that the country benefits from the fact that School's pupils are not taking
up a plaTr at a State school" and
To ensure that good practice in teaching, as disseminated by the Professional Bodies and by the
Department for Education is incorporated into the curriculum, placing particular emphasis on the
social skills of the pupils and monitoring each individual closely so that they may be given appropriate
assistsnce, and to observe the needs of the pupils and their parents, and where possible and practical
making reasonable adjustments to the School's Servi￿ to take account of these needs.
STRATEGIC REPORT
Objectives for the year
The School's objectives for the year under review were as follows:
To establish the School's reputation as an outstanding coeducational boarding and day prep school.
To secure the School's fvture through robust financial management.
To have a highly professional staff body committed to professional development.
To send all Form 8 pupils on to their senior school of choice.
To broaden the offering of activities in line with increased pupil numbers.
To invest in and modemise the School's facilities for the benefit of the pupils (e.g. Create more girls
changing facilities and develop an all-weather surface.)
Longer-term objectives
The longer-term objectives of the School were as follows-
To provide outst8nding pastoral care within a nurturing family environment. underpinned by Christian
values and teaching.
To prepare pupils for the next stage: for transition to their senior schools of choice and for adult life
beyond.
To enGourage curiosity, critical thinkirrfJ and independence of thought through an innovative learning
experience and inspirational teaching.
To develop strength of character through a broad, stimulating curricular and co-curricular offering.
To create a vibrant boarding environment that promotes independence and responsibility.
To share our resources with. and make a positive contribution to, the wider community.
To be happy. have fun and make lasting memories.
Strategies to achieve the year's objectives
The strategies established by the School to achieve these objectives were as follows:
To introduce a termly focus for Teaching and Leaming.
To provide excellent and bespoke advi￿ for parents regarding future schools; to maintain strong links
with a wde variety of senior schools.
To appoint a Director of Developrnent and to build a Development Offi￿.
To convert the.existing tennis courts into an all-weather surface.
To invest in the appointment of new games staff to lead netball and hockey.
To conduct a review into the appraisal of all staff and to launch a new appraisal system.

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
To expand the bursarial team, initially with the appointment of an Assistant Bursar.
To offer full-boarding to the girls and to make plans for the introduction of phase 2 of girls. boarding.
To develop the growing partnership between Aldro and St Mary's Infant School. Shackleford.
Achievements and Perfonnance
The School achieved the following with reference to its objectives for the year.
Numbers on roll this year were the highest in the school's history. peaking at 237.
All of the 13+ Common Entran￿ candidates performed strongly in their exams and were offered
places at their chosen schools. In addition. 14 scholarships were awarded in total to leavers in
academic, sport, music. drama and DTllnnovation. Academic scholarships were achieved by pupils
to Winchester (x2}, Wycombe Abbey, RGS Guildford, Gordonstoun, KES Witley (x2}.
In 2024 leavers rnoved onto 20 different senior schools, including Eton, WinGhester, Radley, Harrow,
Wycombe Abbey. Benenden, Charterhouse. Sherborne, St George's Ascot, Cranleigh, Canford,
stowe, RGS Guildford, Tonbridge, Lord Wandsworth College. King Edward's Witley, Sevenoaks and
King's Canterbury.
The school had 73 girls in the school in September 2023.
The school opened full boarding for girls during the year.
The school welcomed 54 new pupils in September 2023 (23 % of the total NOR).
Bursary Fund Policy and Grant Making
The Governors are committed to broadening aC￿sS to the school by offeTing to eligible parents means-tested
financial support with the payment of school fees. Such support may be awarded in the fomi of a discount of
up to 1000/0 on tuition fees payable. The size of a bursary depends upon the financial, compassionate or other
family circumstances of applicants. Bursary awards are subject to repeat testing of parental means each year
and may be varied upwards or downwards, depending on parental circumstances.
Bursaries were awarded representing 3.380/0 of total fee income. Actual bursaries awarded amounted to
£174,541 in 2024 (2023: £168,024). 37 pupils were assisted with fees Ma an Allowances Scheme, including
8 worth 75 /0 or more of the fee. which redU￿d fee income by £332.343 in the year (2023: £291,969).
Charitable Benefit
The school is committed to working in partnership with local maintained schools. offering resources. staffing
and facilities and working together collaboratively to the benefit of all parties. The school has trained staff
from St Mary's Shackleford so that they can drive the minibuses and allows them to borrow them. The school
also allows local churches and the village the use of the facilities in the holidays where possible for annual
away days and tennis tournaments. It is planned going forwiaTds to provide lunches to the local school, St
Mary's Shackjeford.
The school. for several years, has been supporting the charity Starfish Malawi, which supports educational
and health projects in Malawi and we have direct links with a school in a village called Simawaya. Aldro also
supports other charities each year which helps create in our pupils an awareness of the wider social context
of the education Ihey receive at the school. The principal charity that has been supported for the last year
has been Hounds for Heroes, a charity that helps provide dogs for veterans. Aldro also rents out facililies to
the Lions Sports Academies. The Brass Academy and LDN Holidays.
FINANCIAL REVIEW OF THE YEAR
The net Income for the year amounted to £279,838 which compares with net income of £128.911 in 2023.
This includes net restricted income of £98.289 {2023: £117.138) leaving net income of £181.549
{2023'.£11,773) on unrestricted funds. The net expenditure is after deduding depreciation of £242,221 {2023:
£244.191). This increase in the net income is due to higher numbers on roll and the reduction in discounts
following the move to Co-education. The subsidiary company. Aldro Enterprises Limited, contributed during
the year by renting out the school site to extemal activity providers.

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
An unusually large arnount of cash was received in the year due to a number of parents pre-paying their fees,
either for the year 2024-25 or through the Fees in Advance scheme.

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
Invesknent Policy
Investments are govemed by the Memorandum of Association, which permits funds to be invested in
secursties or property as may be thought fit. The current policy is to invest surplus cash balan￿S in interest-
bearing bank deposits at first class banking institutions. Bursary funds are invested in M&G Charifund, which
aims to provide a high and growing income. whilst at the same time protecting their capital from the erosive
effects of inflation over a rolling ten year period.
Reserves Policy
As stated in the accounts, the funds are split between those that are restricted for specific purposes and
those available for other requirements of the School.
The Governors aim to maintain a level of 'free' reserves, reserves not committed or invested in tangible fixed
assets, of approximately £1,200,000. As a result of building the Sports Hall in 2015 and the current level of
operating, the School's balance sheet temporarily shows an unsatisfactory reserves position. A committed
Revolving Credit Facility has been arranged to provide financial stability whilst the levels of free reserves are
being restored.
Fundraising
In line with the new reporting requirements included in the Charities Act 2016 the Govemors are pleased to
confirm that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow
traditional methods. During 2023-24 we did not employ any professional fundraisers. There were no
cornplaints or Griticisms during the year about our fundraising activities.
PLANS FOR THE FUTURE
Aldro continues to provide an outstanding education to its pupils. The school's tangible sense of community
and Christian character, its academic aspirations, its day and boarding offering and its broad co-curricular
provision, all offered within the school's stunning rural location in SU￿ey. means that the school continues
to Provide an exceptional and distinctive educational offering. The school offers its pupils an ex￿lIent
education across all academic subjects, with outstanding sporting, music, drama, art and DT facilities, as well
as a broad range of activities, which include shooting. chess, sailing, riding, gyrnnastics, judo, dance etc.
From September 2024 the school plans to build on the initial transition to co-education by continuing to
increase the number of girls on roll. The school expects to start the new year with 71 girls on roll (32 % NOR}
and expects to increase the percentage of girls towards 40 % over the nexl 3-5 years. As part of the ongoing
roll-out of coeducation, the school also aims to open phase two of the girfs, full boarding facility.
The school plans to grow its investment in the training and development of academic staff to ensure a lively
and engaging curriculum delivery and a culture of continual professional development. The school expects
to grow and develop its teams. A review of the school's appraisal system has been undertaken, and more
emphasis will be placed on staff training and development. The sGhool aims for all teachers to be trained in
both First Aid and Mental Health First Aid. The school plans to develop a whole-school approach to wellbeing.
The school plans to launch a new website during 2025 and has commissioned Finalsite to design this. The
boarding provision at Aldro will continue to be an area of strategic focus. The growing number of full-time
boarders recruited both in the UK and intemationally will be accompanied by day pupils opting to board on a
part4ime basis. This flexible approach (family friendly) continues to be very successful allowing the pupils
and the parents to embrace the boarding at a pa￿ suitable to each individual f3rnily. Boarding is a key
preparation for the senior school transition, as the vast majority of the pupils will follow onto major public
schools. Both SW London and intemational rnarkets continue to te a target for future pupil recruitment.

Aldro School Educational Trust Limited
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
RISK MANAGEMENT
The Board, continue to keep the School's activities under review. particularly with regard to any major risks
thal rllay arise from time to time as well as the systems and procedures established to manage them. They
monitorthe effectiveness of the system of internal controls and other viable means, including insurance cover
where appropriate, by which those risks already identified can best be mitigated.
Based on an annual risk review, the Finan￿ and General Purpose Committee considers the most relevant
risks. and the means by which they may be mitigated, to be as follows:
Increased pressure upon the numbers on roll related to an uncertain economic climate and the
addition of VAT on school fees. The Govemors are committed to managing future fee increases to
ensure that aC￿sS to the School remains unaffected, whilst rnaintaining numbers on roll,
Decline in boarding numbers following the addition of VAT on school fees. The school is ensuring
clear and consistent communication to parents and has an experienced team in position to be able to
oversee this.
Increasing cost base with higher wages and increased ernployer National Insurance contributions.
Online risks, encompassing fraudulent activity or hacking, inappropriate use by staff or pupils and
insufficient capability of the network and equipment. The school has invested heavily in this to mitigate
these risks.
Reputstional risk is managed through school's commitment to its safeguarding policies. staff
recruitment policies, inspection readiness and ex￿lIent pastoral support for both pupils and staff. The
school is Gommitted to promoting wellbeing among the pupils and staff.
Changing Governmental policy that results in an even less favourable operating environment for
Independent Schools. The Governors and SLT keep a close eye on legislative and other changes. A
working paty has been formed and meets monthly to develop a strategy for this eventuality.

Aldro School Educational Trust LimÉted
GOVERNORS, ANNUAL REPORT (incorporating a Group Strategic Report)
Year Ended 31 July 2024
STATEMENT OF GOVERNORS, RESPONSIBILITIES
The Governors. who are also the directors of Aldro School Educational Trust Limited for the purposes of
company law, are responsible for preparing the Governors, Report and the accounts in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practs.￿).
Company law requires the Governors to prepare financial statements for each financial year, which give a
true and fair view of the state of affairs of the Trust and its subsidiary and of the incoming resources and
application of reSoUr￿s. including the income and expenditure, of the group for that year. In preparing those
financial statements. the Governors are required to".
select suitable accounting policies and then apply them consistently:
observe the methods and principles in the SORP:
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the group will continue in business.
The Govemors are responsible for keeping adequate accounting records which disclose with reasonable
accuracy at any time the financAal position of the Trust and which enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the Governors has confimied that there is no information of which they are aware which is relevant
to the audit, but of which the auditor is unaware. They have further Confi￿ned that they have taken appropriate
steps to identify such relevant information and to establish that the auditors are aware of such infonnation.
AUDITORS
A resolution proposing the re-appointment of TC Group as auditors to the company will be put to the annual
general meeting,
This report, incorporating the Strategic Report. was approved by the Govemors on Z É. I i . £¥
and
igned on behalf of the board by
James Geffen
Chair of Governors and Director

Aldro School Educational Trust Limited
INDEPENDENT AUDITOR'S REPORT
Year Ended 31 July 2024
Opinion
We have audited the financial statements of Aldro School Educational Trust Limited (the 'parent charitable
company and its subsidiary (the group.)) for the year ended 31 July 2024. The financial reporting frarnework
that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally AC￿pted Accounting Practice).
In our opinion the financial statements".
give a true and fair view of the state of the group's and the parent charitable company's affairs as at
31 July 2024 and of its incoming resources and application of resources, including its income and
expenditure. for the year then ended:
have been properly prepared in accordan￿ with United Kingdom Generally AC￿pted Accounting
Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and
applicable law. Our responsibilities under those standards are fvrther described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charitable company in accordance with the ethical requirernents that are relevant to our audit of
the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is SLrfficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require
us to report to you where:
the Govemors. use of the going concem basis of accounting in the preparalion of the financial
statements is not appropriate- or
the Govemors have not disclosed in the financial statements any identified malerial uncertainties
that may cast significant doubt about the group and charitable company's ability to continue to
adopt the going concern basis of accounting for a period of at least Iwelve months from the date
when the financial statements are authorised for issue.
10

Aldro School Educational Trust Limited
INDEPENDENT AUDITOR'S REPORT
Year Ended 31 July 2024
Other information
The Governors are responsible for the other information. The other information comprises the
information included in the Govemors. annual report. other than the financial statements and our
auditorfs report thereon. Our opinion on the financial statements does not cover the other infomiation
and, except to the extent otherwise explicitly stated in our report. we do not express any form of
assurance Gonclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information
and, in doing so, consider vthether the other information is materially inconsistent wilh the financial
statements or our knowledge obtained in the audit or othep¥vise appears to be materially misstated. If
we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether there is a material misstatement in the financial statements or a material
misstatement of the other infomiation. If, based on the work we have perfonned, we condude that there
is a material misstatement of this other information. we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Governors, annual report (incorporating the strategic report and the
directors, report) for the financial year for which the financial ststements are prepared is Gonsistent
with the financial statements- and
the strategic report and the directors, report have been prepared in accordance with applicable legal
requirernents.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and charitable company and its environment
obtained in the course of the audiL we have not identified material misstatements in the strategic repork and
the direGtors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns" or
certain disclosures of directors, remuneration specified by law are not made" or
we have not received all the infonnation and explanations we require for our audit.

Aldro School Educational Trust Limited
INDEPENDENT AUDITOR'S REPORT
Year Ended 31 July 2024
Responsibilities of Governors
As explained more fully in the Governors, responsibilities statement, the Govemors (who are also the
directors of the charitable company for Ihe purposes of company law) are responsible for the preparation of
the financial statements and for being satisfied that they give a true and fair view, and for suoh intemal control
as the Governors determine is necessary to enable the preparation of financial statem8nts that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the govemors a￿ responsible for assessing the charitable Gompany's
ability to continue as a going concem. disclosing, as applicable. matters related to going concem and using
the going concern basis of accounting unless the governors either intend to liquidate the charitsble Company
or to cease operations. or have no realistic alternative but to do so.
Auditor's responsibilities forthe audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes
our opinion. Reasonable assuran￿ is a high level of assurance. but is not a guarantee that an audit
conducted in accordan￿ with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at: https:Ilwww.frc.org.uklauditorsresponsibilities. This description
forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities. including fraud
The objectives of our audit. in respect to fraud, are: to identify and assess the risks of material misstatement
of the financial statements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed
risks of material misstatement due to fraud, through designing and irnplementing appropriate responses" and
to respond appropriately to fraud or suspected fraud identrfied during the audit. However, the primary
responsibility for the prevention and detection of fraud rests with both those charged with governan￿ of the
entity and its management.
Our approach was as follows:
We identified areas of laws and regulations that could reasonably be expected to have a material
effect on the financial statements from our general sector experience. and through discussion with
the Governors. and other management (as required by auditing standards), and discussed with the
Govemors, and other management the policies and procedures regarding compliance with laws and
regulations (see below).
We identified the following areas as those most likely to have such an effect: health and safety;
General Data Protection Regulation (GDPR)- fraud; bribery and corruption. school inspections,
keeping children safe in education (statulory guidance), DBS checks and ernployment law. Auditing
standards limit the required audit procedures to identify non-compliance with these laws and
regulations to enquiry of the trustees and other management and inspection of regulatory and legal
12

Aldro School Educational Trust Limited
INDEPENDENT AUDITOR'S REPORT
Year Ended 31 July 2024
corresponden￿, if any. The identified actual or suspected non-complian￿ was not sufficiently
significant to our audit to result in our response being identified as a key audit matter.
We considered the legal and Tegulatory frameworks directly applicable to the financial statements
reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant
tax compliance regulations in the UK.
We considered the nature of the charitable company's operations, Ihe control environment and
financial perfomiance.
We communicated identified laws and regulations throughout our team and remained alert to any
indications of non-complian￿ throughout the audit:
We considered the procedures and controls that the charitable company has established to address
risks identified, or that otherwise p￿Vent. deter and detect fraud. and how senior management
monitors those programmes and controls.
Based on this understanding we designed our audit procedures to identify non-complian￿ with such laws
and regulations. Where the risk was considered to be higher, we perfomied audit Pro￿dureS to address each
identified fraud risk. These procedures included: testing manual journals. rewewing the financial statement
disclosures and testing to supporting docurnentation; perfoming analytical procedures" and enquiring of
management, and were designed to provide reasonable assurance that the financial statements were free
from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial ststements, even though we have propedy planned and performed
our audit in accordance with auditing standards. For example. the further removed non-complian￿ with laws
and regulations (irregularities) is from the events and transactions reflected in the financial statements. the
less likely the inherently limited procedures required by auditing standards would identify it. The risk is also
greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery. collusion, omission or misrepresentation. We are not responsible for p￿Venting non-
compliance and cannot be expected to detect non-cofflpliance with all laws and regulations.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those rnatters we are required to state to them in an auditor's report and for
no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone
other than the charitable company and the charitable company's members as a body, for our audit work, for
this report, or for the opinions we have fonned.
f c IrE--P
Mark Cummins FCCA (Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditors
Office: Steyning, West Sussex
Dated:
20 IS
13

Aldro School Educational Trust Limited
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(Including Income & Expenditure Account)
Year Ended 31 July 2024
Notes
Unrestricted
Funds
Restricted
Funds
TOTAL
2024
TOTAL
2023
INCOME FROM:
Donations and legacies
117,147
92,477
209,624
135,336
Charitable activities
Fees receivable
Other income
5,169,678
100,587
5,169,678
100.587
4,591,204
91,843
Other trading activities
Commercial operations
Aldro Ball
65,011
17,673
65,011
17,673
47,721
Investment Income
1.000
2.539
3.539
2,087
Total Income
47
4 868 191
EXPENDITURE ON:
Raising funds
Commercial operations
Other
111
15.005
111
15.005
834
104
Charitable Activities
Education
5.274,431
4,735,128
Total Expenditure
4 736 066
Net gains l (losses)
investments
on
10
3,273
3.273
(3.214}
NET INCOMEI(EXPENDITURE)
181,549
98.289
279,838
128,911
Transfers between funds
15
295,288
(295,288)
NET MOVEMENT IN FUNDS
476,837
(196,999)
279,838
128,911
Reconciliation of funds
Total funds brought forward
6,055.104
5,926,193
Total funds carried forward
6.257,983
76,959
6,334.942
6,055,104
This statement of financial activities also complies with the requirernents for an income and expenditure
account under the Cornpanies Act 2006. All activities are Glassed as continuing.
There are no recognised gains or losses other than those reported on the Statement of Financial Activities.
14

Aldro School Educational Trust Limited
CONSOLIDATED BALANCE SHEET
As at 31 July 2024
Notes
2024
2023
FIXED ASSETS
Tar)gible Assets
Investments
6,770,514
44,494
6,815,008
6.857,926
41.221
6.899,147
10
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
834
1,777,131
225,187
11
1.374.836
1,998,249
Total Current Assets
3.373,919
2,003,152
Creditors, due within one year
12
(3,195,758)
(2,560,372)
NET CURRENT ASSETS I
{LIABILITIES)
178.161
{557.220)
LONG TERM LIABILITIES
Creditors, due after more than
one year
13
(658,22n
(286.823)
TOTAL NET ASSETS
Represented by
General Fund
Designated Fund
Fixed Asset Fund
Unrestricted Funds
{197.539)
(752,487)
6,500
15
6.257,983
5,781,146
Restricted Fund
14
273 958
TOTAL NET FUNDS
6,334,942
6.055,104
The financial statements were approved by the board on ZL z¥ and signed on their behalf by:
I Waller
Governor and Director
C Carlier
Vsrnith
Bursar
Company number 00937890
15

Aldro School Educational Trust Limited
COMPANY BALANCE SHEET
As at 31 July 2024
Notes
2024
2023
FIXED ASSETS
Tangible Assets
Investments
6,770,514
6.857.926
10
6,815,010
6,899,149
CURRENT ASSETS
Debtors
Cash at bank and in hand
1,393,713
1,978,820
1.791.921
222,487
Total Current Assets
3,372,533
2,014.408
Creditors, due within one year
12
3213 431
NET CURRENT ASSETSI
(LIABILITIES)
159,102
(545,964)
LONG TERM LIABILITIES
Creditors, due after more than
one year
13
(658,227)
(286,823)
TOTAL NET ASSETS
6.315.885
6,066,362
Represented by
General Fund
Designated Fund
Fixed Asset Fund
Unrestricted Funds
(216.596)
(741,229)
6,500
6,527,133
5.792,404
6,455,522
6,238,926
15
Restricted Fund
14
76,959
273,958
TOTAL NET FUNDS
6.315.885
6.066.362
The financial statements were approved by the board on 1¢ and signed on their behalf by..
I Waller
Governor and Director
C Carlier
Hoad
V Smith
Bursar
Company number 00937890
16

Aldro School Educational Trust Limited
CONSOLIDATED CASH FLOW STATEMENT
Year ended 31 July 2024
2024
2023
Cash flows from operating activities:
Net incomelexpenditure for the year
Adjustments for:
Depreciation
Interest payable
Net (gains) I losses on investrnents
Loss on sale of fixed assets
Decrease in stocks
Decreasel{ Increase) in debtors
Increase in credrtors
279.838
128.911
242,221
45,644
(3,273)
1.074
244,191
14.923
3.214
402,295
(514,085)
47
Net cash provided by operating
activities
2,018.423
498,630
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
133682
(155,883)
{133.682)
Cash flows from financing activities
Interest paid
Repayments of bo￿O￿ng
Net cash used in financing activities
{45,644)
{43,834)
(14,923)
(395,420)
(89.478)
(410,343)
Change in cash and cash equivalent
in the year
1.773,062
(45,395)
Cash and cash equivalents at the
beginning of the year
225,187
270,582
Cash and cash equivalents at the end
of the year
1,998,249
225,187
Analysis
equivalents
Cash at bank and in hand
Bank loans within in year
Bank loans afler one year
Total cash and cash equivalents
cash and cash
1,998,249
(286,959)
225,187
(43,970)
(286,823)
(105,606)
1,711.290
17

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
1 STATUTORY INFORMATION
The charity is a charitable company, limited by guarantee, registered in England and Wales. The registered
offi￿, company number and charity number are detailed in the Governors, annual report.
2 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the Companies Act 2006 and in accordance with the Charities,
Statement of Recommended Practice (SORP (FRS 102)) and Financial Reporting Standard 102.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.
After reviewing the charity's forecasts and projections. the Governors have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future. The charity
therefore continues to adopt the going concern basis in preparing its accounts.
Currency
The Group presents its accounts in Sterling and figures are rounded to the nearest £.
Group accounts
The accounts consolidate the results of the charity and its wholly owned subsidiary Aldro Enterprises Limited
on a line by line basis. A separate Ststement of Financial Activities (including income and expenditure
account) for the charity has not been presented as the charity has taken advantage of the exemption afforded
by section 408 of the Companies Act 2006.
Income
Donations received for the general purposes of the School are credited to unrestricted funds ex￿pt insofar
as they are incapable of financial measurement. Donations for purposes restricted by the wishes of Ihe donor
are taken to restricted funds where these wishes are legally binding on the charity.
School fees receivable and charges for services and use of premises are accounted for in the period in which
the service is provided. Fees received in advan￿ of education to be prowded in future years are held as
liabilities until either taken to income in the temi when used or else refunded. They are stated after deducting
bursaries, scholarships and other fee remissions granted by the School.
Lettings and investment income are aGcounted for in the period in which they are re￿1Vable. Other incoming
resources are accounted for when re￿ived.
Expenditure
Expenditure is accounted for on an accruals basis, with value added tax included within the item of exp8nse
to which it relates. Overhead and other costs not directly attributable to a particular functional activity category
are apportioned over the relevant categories on the basis of management estimates of the amount
attributable to that activity in the year.
Governan￿ costs comprise the costs of running the charity, including strategic planning for its future
development, also internal and external audit. any legal advice for the Governors, and all the costs of
complying with constitutional and statutory requirements. such as the cost of board and committee meetings
and of preparing Statutory accounts and satisfying public accountability.
Irrecoverable VAT is attributed directly to the cost to which it relates.
18

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
Assets
Fixed assets are shown on the balance sheet at cost less accumulated depreGiation. Current assets are
shown at the lower of cost and net realisable value.
Depreciation
Depreciation is provided on fixed assets to write off their cost over their estimated useful lives at the following
rates:
Freehold buildings
Assets in the course of construction
Car park surfacing
Fumiture and equipment
Cornputers
Vehicles
Nil to 40/0 Straight line
25 % straight line
100/0 reducing balance basis
25 % straight line
25 % reducing balance basis
An item with a purchase cost of £1.000 or below is written off as an expense in the year of acquisition.
Freehold land is not depreciated.
Pension schemes
The School contributes to a defined contribution scheme for staff. The assets of the scheme are held
separately from those of the School in an independently administered fund. Conlributions to the scheme are
charged to the Statement of Financial Activities as they become payable in accordance with the rules of the
scheme.
Operating lease rentals
Rentals paid in respect of assets held under operating leases are taken to the Statement of Financial Activities
as they fall due.
Investments
Listed investments are stated at market value. Investrnents in subsidiaries are stated at cost where this is not
significantly different to market value. Unrealised gains and losses are ￿CogniSed in the Statement of
Financial Activities as a component of net income and expenditure.
Cash at bank and in hand
Cash at bank and in hand includes cash and short temi highly liquid investments. The Govemors seek to use
short and medium term deposits where possible to rnaximise the return on monies held at the bank and to
manage cash flow.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event
that will probably result in a transfer of funds to a third paty and the arnount due to settle the obligation can be
measured or estimated reliably.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Stocks
Stocks of clothing are valued at the lower of cost and net realisable value.
l9

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
Fund accounting
Unrestricted funds comprise those funds which be used in accordan￿ with the charitable objectives at
the discretion of the Governors.
Restricted funds are those funds which can be used in accordan￿ with the specific restrictions imposed by
the donor or which have been raised by the charity for a specific purpose. The cost of raising and
administering such funds is charged against the funds and the School reirnburses the costs from unrestricted
funds. The aim and use of each restricted fund is set out further in the notes to the accounts.
Turnover
The turnover of the charity is wholly attributable to the objeGt of the charity as stated in the Governors, Report
and is eamed entirely within the UK.
Taxation
The charitable company is registered as a charity and all of its income falls within the exemptions under Part
11 of the Corporation Tax Act 2010.
Deferred taxation in the subsidiary company arising on the valuation of the f￿ehOld is not provided for as. in
the opinion of the directors of the Group, the liability is unlikely to arise.
Critical accounting estimates and judgements
In the application of the Group's accounting policies, the Governors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily 8pparent
from other sources. The estimates and associated assumptions are based on histOriGal experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised.
The Governors do not consider that there are any critical estimates or areas of judgement that need to be
brought to the attention of the readers of the financial statements.
3 Income from Charitable Activities
2024
2023
Gross fees
Less.. bursaries and discounts
5,807,056
5,434,753
259
4.480,494
5.065,312
Extras
5.169,678
4,591,204
Other income
Included in other income is £28,253 (2023: £57.307) relating to insurance claims.
4 Income from Other Trading Activities
2D24
2023
Lettings and activities (subsidiary company)
Aldro Ball
65,011
47,721
82,684
47,721
20

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
5 Analysis of Expenditure
Total
2024
Total
2023
Staff Costs
Other
Depreciation
Cost of raising funds
Fundraising
Lettings
Total cost of
raising funds
15.005
11
15,005
111
104
834
15,116
15.116
938
Charitable activities - Education
Teaching
2,367.498
We￿are
406,930
Premises
178,300
Support
Total charitable
expenditure
178,995
221.168
809,784
2.165
2.548,658
628.098
1,228,140
2,472,601
685,715
898,039
678,773
240.056
3,337,911
1,694,299
242,221
5,274,431
4,735.128
Total Expenditure
3.337,911
1,709,415
242,221
5,289,547
4,736,066
Analysis of support costs
2024
2023
Govemance costs..
Auditors. remuneration for audit services
15,120
13,928
Support costs:
Support staff wages, national Insuran￿ and pension
Other support costs
385.183
323,643
869
35
Net Income is stated after charging £120,644 (2023: £128.656) to operating lease rentals included within
premises costs.
21

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
6 Comparative Statement of Financial Activities - Year Ended 31 July 2023
Unrestricted
Funds
Restricled
Funds
Total
2023
INCOME FROM:
Donations and legacies
16,965
118,371
135,336
Charitable activities
Fees receivable
Other income
4,591,204
91,843
4.591.204
91,843
Other trading activities
Commercial operations
47.721
47,721
I nvestment income
2,085
2.087
Total Income
4,747,735
120.456
4,868,191
EXPENDITURE ON:
Raising funds
Commercial operations
Other
834
104
104
Charitable Activities
Education
Total Expenditure
4,735,962
104
4736,066
Net losses on investments
(3,214)
{3.214)
NET INCOME
11,773
117.138
128.911
Net movement in funds
Fund balan￿S brought forward
Fund balances carried forward
5,781,146
273,958
6.055,104
22

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
7 Staff Costs
2024
2023
Sa18ries and wages
Social security costs
Pension costs
2.777.316
255,117
2.416.541
220,718
3,328.902
009
2,907.126
Temporary and casual wages
Number of employees whose emoluments for the year ex￿eded
£60,000
2024
2023
£60,000 to £69,999
£70.000 to £79,999
£120,000 to £129.999
£140.000 to £149.999
Contributions totalling £32,788 (2023: £27,757) were made during the year to a pension scheme on
behalf of the above employees.
The average monthly headcount during the year was:
2024
2023
Teaching
Teaching support
Domestics and matron
Maintenance
Administration
Catering
Cleaning
43
17
43
16
11
11
91
The key management personnel of the school are detsiled in the Govemors. Report,
2024
2023
Aggregate employee benefits of key management personnel
26
Operating Surplus
2024
2023
Included within the operating surplus for the year are the following-.
Charitable Activities - Education
Operating lease rentals (inc. VAT)
120,644
128,656
Governance
Auditors. fees- audit ServI￿S (inc. VAT)
15.120
13.928
As described in the notes to the accounts, no separate Statement of Financial Activities has been
prepared forthe School alone. The School contributed £213,350 to the surplus of the Group forthe year
(2023: £171.612 to the surplus).
23

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
Tangible Fixed Assets
The movement of tsngible fixed assets was as follows:
THE GROUP &THE
COMPANY
Freehokl
land and
buildings
Fumiture and
equipment
Motor
vehicles
TOTAL
Cost
At beginning of year
Additions
Disposals
At end of year
10,723,767
131.248
1.846,825
24,635
76,302
12,646,894
155,883
10 855 01
Accumulated Depreciation
At beginning of year
Charge for year
Disposals
At end of year
4,583.666
155,039
1,138,442
85.017
66.860
2,165
5,788,968
242.221
4 738 705
Net Book Value
At beginning of year
At end of year
6 140 101
10 Investments
The Group
Listed SubsKliary
The Company
Listed Subsidiary
Total
Total
Fair value
At beginning of year
Revaluations in year
At end of year
41,221
41.221
41,221
41.223
44,494
44,494
44,496
The Company owns 1 OOOh of the shares of the subsidiary company Aldro Enterprises Limited,
company number 02483985. which is incorporated in England and Wales.
The trading results of Aldro Enterprises Limited for the year ended 31 July 2024 are:
Profit for the year
£12.640
Capital and Reserves
£1,386
11 Debtors
The Group
2024
The Company
2024
2023
2023
Fees re￿1vable
Prepaymenls and accrued incL)rne
Amounts owed by group undertakings
1,272.862
101,974
1,640,048
137.083
1,221,738
101.974
70.001
1,602,097
137,083
52,741
TOTAL
374
24

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
12 Creditors due within one year
The Group
2024
The Company
2024
2023
2023
Bank loan (secured)
Trade creditors
Deferred revenue
Fees payable in advan
Other taxes and social security
Deposits held
Other creditors
Accruals
286.959
62.703
1.816.040
422,127
43,970
87,006
1,732.995
64.818
57,193
516.985
10,058
47,347
286,959
62,703
1.816,040
422,127
43.970
87,006
1,732,995
64,818
57,193
516.985
10,058
47,347
550,519
16.579
40,831
550,519
34,252
40,831
TOTAL
13
13 Credrtors due after more than one y
The Group
2024
The Company
2024
2023
2023
Bank loan {secured}
Fees payable in advance
286.823
286,823
658,227
658,227
TOTAL
658
27 286 823
658 227
286 823
Maturity analysis
Bank loan due in less than 1 year
Bank loan due in 1-2 years
Fees in advance due in less than 1 year
Fees in advance due in 1-2 years
Fees in advance due in 2-5 years
286,959
43.970
286,823
286,959
43.970
286,823
422.127
412,375
245.852
422,127
412,375
245,852
TOTAL
367313
The bank overdraft facility. loan and £1 M credit facilty are secured by a fixed charge over the school's
freehold land and buildings. The carrying value of the assets charged was £6,094,298 (2023:
£6.140.101) at 31 July 2024. Bank loan and credit facilities totalling £1,500,000 were agreed on an
interest rate of 1.75 % above Barclays, base rate, repayable over 5 years expiring in September 2024.
The school site was valued on 25 July 2022 at a market value of £7,500,000. The £1,000,000 revolving
loan facility was renewed in October 2024. The interest rate is 1.950L)/o above BarGlays' base rate,
repayable over 5 years expiring in October 2029.
25

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
14 Restricted Fund
Balan
Balance
al
31 July
2024
at
1 August
2023
Gains on
investments
Income
Transfers
Francis Hudson
Bursary Fund
Fort and playground
All-weather surfa
Development Fund
New Bursary Fund
43,306
2,539
3,273
(49,118)
37,331
55.146
(37.331)
(55.146)
(139,868)
(13,825)
216,827
13,825
76,959
TOTAL
273
27
295 288
76 959
The Francis Hudson Bursary Fund provides for bursaries to boys whilst at the school.
The Fort and playground Fund provides money for these new areas of the school.
The All-weather surface Fund provides money for the All-weather surface.
The Development Fund provides money for capital projects through fundraising, the marketing
costs of which are also met by the use of this Fund.
The New Bursary Fund contains donations given to help fund bursaries.
Transfers represent monies expensed on projects during the year.
15 Unrestricted Fund
Balance at
1 August
2023
Balance at
31 July
2024
Income
Expenditure
Transfers
General fund
Designated fund
Fixed asset fund
(752,487)
6.500
6,527,133
5,471.096
(5.289.547)
373.399
{6.500)
{71.611)
(197,539)
6,455,522
TOTAL
47
The fixed asset fund is maintained at an amount equal in total to the school's fixed assets less
mortgages secured on those assets, and a transfer is made equivalent to the net movement in fixed
assets and mortgages. The designated fund represents income from legacies set aside for provision
of an outdoor leaming environment.
26

Aldro School Educational Trust Limited
NOTES TO THE ACCOUNTS
Year ended 31 July 2024
16 Net Assets Between Funds of the Group
Unrestricted
Restricted
At 31 July 2024
Fixed Assets
Investments
Current Assets
Current Liabilities
Long-term Liabilities
Group
6,770,514
44,494
3,296,960
(3.195.758)
658 227
6,770,514
44.494
3,373,919
(3,195,758}
76,959
Unrestricted
Restricted
At 31 July 2023
Fixed Assets
Investments
Current Assets
Current Liabililies
Long-term Liabilities
Group
6,857.926
6.857,926
41,221
2,003,152
(2,560,372)
41,221
232,737
1,770,415
(2,560,372)
823
605510
17 Operating Leases
The group has financial commitments in respect of non-cancellable operating leases of plant and
machinery. At 31 July 2024, the outstanding comrnitments for non-cancellable operating leases were:
2024
2023
Within one year
Between two and five years
92.429
114,780
145 945
18 Governors, Remuneration, Reimbursement of expenses and Interests in Contracts
No remuneration was provided to any Governors during the year. Two govemors were reimbursed travel
expenditure during the year of £377 (2023: 2 of £777).
Members of the close family of the key managernent personnel received remuneration of £17.904 (2023..
£29,371).
S Hunt {Govemor), T Jones (Governor) and V Smith (Bursar) are parents of pupils attending the school
during the yearfor whom fees were payable to the school. Fees payable and any discounts were charged
and awarded on the same basis as for other parents and staff.
19 Control
The company is lirnited by guarantee with no one member having overall control. The company is limited
by guarantee and each member is urKJer covenant to contribute a sum not exceeding £1.
27