FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Company Number: 00905522
Charity Registration Number: 1157842

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEX TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
Annual Report of the Governors incorporating the Strategic Report
1-13
Independent Auditorf5 Report
14-17
Consolidatecl Statement of Financial Attivities
18
Consolidated and Parent Company Balance Sheets
19
Consolidated Cash Flow Statement
20
Notes to the Financial Statements
21-42

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
INTRODUCTION
The Board of Directors present their annual report for the year ended 31 July 2021 in accordance with the
Companies Act 2006 and the Charities Act 2011, together with the audited consolidated financial statements
of Farleigh School Trust Limited Ithe "Company" Charity" or 'School"l and its subsidiary Itogether the
"Group").
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and
Article5 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 (Charities SORP IFRS 1021 Second Edition; effective l January 20191.
Farleigh School Trust Limited is a charitable Company, reElStered Charity number 1157842, Company
registration number 00905522. The Registered Office and principal address of the Company is at Red Rice,
Andover, Hampshire SPII 7PW.
Dlrettors
The Directors of the Company are also Governors of the School and its Trustees for the purpose of Charity law.
The Directors serving during the year and since the year end were as follows..
Keith Abel Ichairl.
Jane Vyvyan Ivice Chairl
Kirsty Anderson
Charlotte Cunningham MBE.
Simon Henderson
Charles Ingram Evans
Hugo Keith QC
Fr Oswald McBride
Sarah Raffra
Emma Todd
#•
Chair of the Finance Committee, * Members of the Finance Committee
## Chair of the Academic and Pastoral Committee,
Members of the Academic and Pastoral Committee
Chair of the Public Benefit Committee,
Members of the Public Benefit Committee
The Board of Governors and the sub-committees normally meet three times a year IThe new Public Benefit
Committee is scheduled to meet twice per yearl. This year, in order to oversee and approve exceptional
measures due to COVID-19, the Board met on 5 occasions. New Directors are appointed by the Board of
Governors, serve for periods of four years and are eligible for re-election, normally up to a maximum period
of 12 years.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Key Management Personnel
Key management personnel serving during the year were as follows..
Fr Simon Everson, Headmaster
Paul Lane, Director of Finance & Operations I Company Secretary
Michael Matthews, Deputy Head (Pastorall (left the school 31 August 20211
Janet Watts, Deputy Head (Academic)
Sue Wilton, Head of Pre-Prep
Professional Advisers
Bankers
HSBC Bank PIC
West End Area Commercial Centre
2. Floor, 16 King Street
London WC2E 8JF
Solicltors
Wilsons Solicitor5 LLP
Alexandra House
st John's Street
Salisbury SPI 2SB
Auditors
Haysmacintyre LLP
10 Queen Street Place
London
EC4R IAG
OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES
Objects
The objects of the Company are the advancement of Roman Catholic education at Farleigh School; the
furtherance of religion and education in accordance with the doctrines of the Roman Catholic faith,. and the
advancement of edLJcation,' in each case for the public benefit.
Strategic Aim and Intended Effect
The School's strategic aim is to achieve pupil attendance of boys and girls at around 450 children, with a strong
boarding element and with a particular focus on those of the Roman Catholic faith, but also welcoming non-
Catholics.
Objettives of the Year
The Board's principal objertive is to provide a financially stable infrastfucture and a learning environment that
ensures the education of all Farleigh pupils to a high standard, enabling them to enter the senior school of
their choice for the furtherance of their education.
Ethos and Aims
Farlei8h School's ethos is..
To share with parents in the spiritual, moral and intellectual development of their children in a Catholic
community, which welcomes all faiths,.
To provide a first-class education striving for excellence in all academic, cultural and sporting pursuits,
giving every child the confidence to discover where their gifts lie and to enjoy their talents-
To educate children in the teaching and sacramental life of the Church and to encourage them towards
a life of faith,.
To create a well-ordered and caring School community, where the self-respect and dignlty of each
person will flourlsh;

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
To help Farleigh pupils to grow up honourably, inspired by high ideals, so that they may serve others
generously, and be stron8 in friendship and family.
Farleigh School's aims are..
To ensure the development of the School's children, spirituallyi morally, socially, intellectually and
culturally,.
To provide a broad and high-quality education for children of mixed ability which will lay strong
foundations for a fulfilling and rewarding life,.
To prepare and educate each child for their senior school,.
To make Farlei8h a special place for children to enjoy a part of their childhood through warm pastoral
care of the highest standard.
Princlpal Activitv
The School's principal activity continue5 to be the academic, spiritual and moral development of children aged
3 to 13 through the operation of a co-educational Pre-preparatory IPre-Prepl and Preparatory (Prep) School.
The Effect of COVID-19
Achievement of the aims, objectives and principal activity was made difficult durinE the year by the COVID-19
pandemic. However, as reported later under the section covering the Review of Achievements and
Performance for the Year, the challenges were met and responded to imaginatively and constructively by
pupils, staff and parents, such that the aims, objectives and principal activity were successfully and
comprehensively delivered.
PUBLIC BENEFIT
The Board has again taken heed of the Charity Commission's advice on public benefit and is satisfied that
current activities comply with this advice. The strong Catholic ethos of the School underpins the commitment
of the School to serving others. Having previously identified a governor as the Board's lead for public benefit,
during the year they went further and established a new sub-committee to lead, monitor and further develop
the School's policy on Public Benefit, which is considered at each Governors, meeting. New initiatives were
introduced to assist local, maintained sector primary schools, in light of the challenges they faced due to
COVID-19. These included the provision of resources including IT equipment, books and toys. Farleigh's
parents also volunteered and acted as listeners to primary school children's reading practice.
Acce5S to the School
The Board continues to open up opportunities to children who would not for financial reasons normally be
able to attend Farleigh. The School provided two places during the year for transformational, IIOYO bursaries
for children identified in conjunction with the Royal National Children's SpringBoard Foundation.
Communlty Outreach
Pupils are encouraged to think beyond themselves. They have the opportunity to engage with the wider
community through first-hand experience and also with charity projerts, both locally and further afield. In the
latter part of the year, when activities became possible again as COVID-19 social constraints were relaxed,

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
these included interaction with Icknield Special School in Andover, whose pupils came and used the School'5
space and facilities. Farleigh children were unable, this year, to spend time with the elderly at a local care
home, but instead Farleigh children wrote over 300 letters to elderly residents in local care homes. Whenever
the situation allowed, a local charity, Kids on Track Andover, used Farleigh's facilities, and outdoor holiday
games and activities were run in the spring and summer holidays for current pupils and local children.
The Chapel
As part of the Parish of St John the Baptist, Andover, Fr Simon, as Chaplain and Headmaster, celebrated Sunday
Mass in the Chapel throughout the year. During COVID-19 lockdowns, services were live-streamed, routinely
attracting an on~line congregation of around 250 families with as many as 800 subsequent viewings. Fr Simon
also provided pastoral support to members of the Parish when required; £2,465 was donated to Parish funds
from the Chapel collections.
Sporting & Other Facllltles
The School's grounds, sports facilities and music school are normally used for community activities during the
school holidays. This year opportunities were unavoidably reduced, but nevertheless, included the following..
Drama and Dancing/Singing summer camps used the music recital room,.
Kids On Track, Andover used the theatre, sports hall, swimming pool, recital hall, food technology
laboratory, all weather pitch, grounds and School minibuses during the summer holidays,.
The swimming pool was also open to Local residents and Farleigh families as often as COVID-19
restrictions allowed,.
Hampshire County cricket teams used the cricket pitches in the summer holidays,.
The Andover Triathlon ran their annual event from the School.
Charity Fundraislng
Funds for charity are raised collectively, as a whole School community, and also by small groups of pupils or
individuals. The School supported two main charities.. the L'Arche charity, an international private voluntary
organisation that works for the creation and growth of homes, programs, and support networks with people
who have intellectual disabilities,. and the Murray Parish Trust, which supports children's emergency services
across the South of England by raising money and awareness to support projects at key trauma centres, to
enable pioneering research and provide life-saving equipment. In addition to the main charities, the School
continued to support Macmillan Cancer, Kids on Track and Andover foodbank.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
STRATEGIC REPORT
Financial Review
Total income for the year amounted to £9,104,26812020.' £8,753,427), including £275,50312020= £173,505)
of trading income. Income was higher as a consequence of slightly higher pupil numbers and strong boarding
take up, as well as the increase in fees in January 2021 which had been delayed from the start of the academic
year in recognition of the impact of COVID-19 during 2020. With the further closure of schools announced in
the New Year, the summer term's fees were discounted to reflect the remote learning and teaching that had
been delivered for a large part of the spring term. The boarding element of fees was discounted pro-rata,
depending on the amount of boarding taken-up, and the day fee element was discounted for all pupils by 15%;
this excluded the Kindergarten where full provision was provided throughout the year. The reduction in fees
in relation to COVID-19 of £537,00312020'. £452,665) was partially off-set by income from the government's
Coronavirus Job Retention Scheme £119,70712020.' £204,576).
Total expenditure amounted to £8,727,91712020: £8,603,036). As predicted when undertaking emergency
financial planning to manage the effects of COVID-19, the School's operating costs were also reduced, the
main savings were from the bLJdget items for catering and trips.
The surplus funds generated during the year and available for reserves or reinvestment in the facilities of the
School were therefore £376,35112020'. £150,391). The extension of the Coronavirus Job Retention Scheme
resulted in a better than forecast outcome. Cash and cash equivalents have increased by £861,214 during the
year, £84,936 of this being a net increase in fees received in advance. and the closing bank and cash balance
Wds £1,718,441.
Reserves
The unrestricted funds of the Group increased by £368,364 to £15,834,103 at the year end. The net book value
of tangible fixed assets was £16,035,018 meaning that the unrestricted reserves were wholly deployed in the
School's premises and equipment, with the need for day-to-day working capital being met by careful
management of 5hort-term liquid resources. The School's policy for free reserves. which are the unrestricted
reserves less fixed assets, IS to build cash reserve5 generated from the running of the School to £1.25m and
strategically to invest surpluses in developing the buildings, equipment, staff and resources. Events this year
have heightened the need to build the cash reserve.
Assistance with Fees
In addition to the 110% bursaries for children identified in conjunction with the Royal National Children's
SpringBoard Foundation, the School offers means tested discounts to those who are unable to afford full fees.
This year bursaries were awarded to 19 pupils, with discounts amounting to £143,20812020: £202,875). The
total fee assistance amounted to £479,26712020: £475,955).
Investment Performance
Any uncommitted funds are placed on deposit. Interest received in the period amounted to £46412020:
£3,738).

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Revaluation
As part of the transition to FRS102 a revaluation was carried out by independent valuers of the land and
property of the School. As at 31 July 2015 (date of transition to FRS 1021 the freehold property and land had a
fair value of £24m. For prudence, as in previous years, the Board continues to show the revalued figure for the
land but not the property in the balance sheet. This is reflected in a revaluation reserve within unrestricted
fun(fs.
REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR
Pupil numbers and fees
Pupil numbers continue to be strong, averaging 473 over the year. Boarding is an important partof the School's
life with over 25% of Prep school pupils full or weekly boarding (with the exception of the spring term when
there was limited boarding due to COVID-19 restrictionsl. Flexi-boarding is also available, although it was
temporarily suspended during the year due to COVID-Ig.
Operational Performance and Compliance
The COVID-19 pandemic and government measures to contain it throughout the year required exceptional
dedication, perseverance and intellectual aEility by the School's staff and leadership in order to maintain its
high operational performance.
The year started with all pupils, including boarders, grouped in bubbles. Drop off zones were re-introduced
and inter-personal contact5 were reduced through social distancing measures. Breakfast clubs and after school
activities were curtailed. Parents were not allowed on site other than to drop-off and collect their children.
Bubbles had separate, designated play areas and equipment. Lunch was provided with children having either
prepared meal or packed lunch on alternate days. Games were played on Wednesday and Saturday
afternoons but fixtures were not held.
In the New Year, with the government's closure of schools at Short notice, the School was very well placed to
restart remote learning. Teachers quickly reverted to remote teaching and learning, which was, once again,
Used very successfully to deliver the curriculum to all pupils in the spring term. In support of key-workers the
School offered childcare and boarding throughout the period of closure. As schools re-opened in the latter
part of the spring term, and for the summer term, the School once again complied with the governmenvs
system of control measure5. Throughout the year no Bubbles were sent home to self-isolate Feedback from
staff and parents regarding the effectiveness of the handling of the situation, implementation of COVID-19
safe measures and delivery of remote learnin8 was extremely positive.
At the last full inspection by the Independent Schools Inspectorate IISII in November 2013, the School was
judged to be excellent in all areas assessed. A Regulatory Compliance Inspection was conducted by the ISI in
November 2017 and the School was found to meet all of the required standards. The School underwent a
mock-inspection by an external consultant in February 2020, just prior to the first COVlD-19 lockdown and the
Management Team were pleased with the very positive feedback and confirmation of compliance in areas
that were tested.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Teaching and Learning
Prep school
Despite the difficulties caused by COVID-19 the school has had another very successful academic year. Year 8
pupils achieved 27 Scholarships in a range of subject areas. In detail, there were seven Academic, a further
two All-rounder, seven Drama, three Music, three Art and five Sports awards. The Academic awards comprised
a Headmasterfs all-rounder award to Ampleforth, a stem award to Sherborne Girls and two academic awards
to Marlborough. The Art included a Headmaster's Honorary Award to Radley and a Richard Hunter All-rounder
to Bryanston. The music awards included a Choral award to Wellington and within the Sports award5.'
Faulkner's Sport scholarship to Bradfield. In addition, two Year 6 pupils were offered Academic scholarships
to Dauntsey's, and Downe House. The number and variety of the awards achieved is testament to the breadth
of the School's curriculum as well as to the high standard and hard work of the teacher5 arbd pupils.
Pupils returned to School in Year Group bubbles at the beginning of the autumn term. They were in bubbles
for everything during the day, including segregated play spaces; and pupils sat further apart and in rows,
making collaborative learning more difficult. Nevertheless, pupils still had fun and stimulating experiences, in
and out of the classroom. The breadth of the curriculum continued as far as possible, with scaled down musical
ensembles, competitive sport organised internally and Year 8 pupils filming Yhe Battle of the Boat, instead of
doing a staged production.
Remote learning resumed in the New Year when the Government once again closed schools. A quick reversion
to remote learning ensued, using a structure similar to that in the previous summer, but adapted for the
colder, wetter weather. Staff quickly readjusted to on-line learning platforms.. Zoom, Show My Homework and
Moodle, with Reception Class children continuing to use Tapestry. Year 6, 7 and 8 had lessons throughout the
day and Year 3, 4 and S went back to having academic Subject lessons in the morning and opportunities for
subjects such as Art, Music, DT, IT, PE and Drama in the afternoon. The remote learning programme was
acknowledged by parents as being outstanding.
The investment in Information Technology IITI over the last two years played an integral part in the School's
capacity to provide excellent remote teaching and learning. The School was shortlisted by the TES for the
school that had provided the best remote learning provision.
In March, pupils returned to school in conditions similar to those at the start of the academic year with pupils
in bubbles. Gradually restrictions were lifted throughout the summer and Year 8 Common Entrance exams
went ahead, with papers marked internally. Pupils achieved many excellent results, with a high percentage of
A and A. grades. The summer term included a number of events that parents were able to attend while
maintaining social distancing, these included: Sports Days,. the Year 6 play, 'A Midsummerfs Night Dream,;
Confirmation; and First Holy Communion. The Year 8 and Year 7 residential trips to Devon also took place very
successfully. The year culminated with outdoor, socially distanced events including a Summer Soiree and three
prize-giving ceremonies.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Pre-Prep school
The autumn term started positively with Pre-Prep organised into Year Group bubbles, COVID-19 safe class
teaching and the playground arranged to allow different year groups to play but rTrot mix. Clubs were arranged
in year group bubbles and included a mixture of external specialist coach led clubs and internal teacher led
clubs. In the classroom teacher5 revised planning formats to enable more transparency in monitoring the
progress of the children and to ensure that curriculum development was evident as the children move up
through the year groups, and that a consistent approach to teaching core subjects occurred.
During the national lockdown, in the autumn term, extra-curricular activities ceased but the children remained
in school and teachinE continued with enhanced COVID-19 safety precautions. In January the Pre-Prep
reverted to remote learning on Zoom, but with Kindergarten and Keyworker children learning in school.
Excellent teaching activities and extra activities including more individual reading sessions online and catch up
learning sessions were provided. When the children returned to school, knowledge levels were good,
indicating that they had accessed the curriculum successfully despite the disruption.
Sport
Sport is an integral daily part of Farleigh life and the School has invested significantly in both facilities and
staffing over the last few years to make sure that the very best provision is available. The School's aim is to
engage, develop and include all pupils, encouraging them to be competitive and to do their best at all times.
PE lessons from Reception to Year 8 are taught by well qualified specialists and focus primarily on the children's
physical literacy. The Eames, programme. for Year 2 and above is designed to develop the children's
understanding of spatial awareness, tactics and competitive play,. Year 3 and above completed rugby, football,
netball, and hockey in the autumn term, taking a full part in inter-house competition5. Until lockdown
swimming lessons were taught for Reception to Year 5, and for older year groups swimming was conducted
as part of PE lessons in Years 6 and 7 with fitness and lifesaving as the focus.
Sport wa5 imaginatively delivered throughout the lockdown periods, via Moodle and Zoom lessons Wlth PE
lessons and HIIT (High Intensity Inte￿al Training) available for all children from Kindergarten to Year 8. The
scholarship programme was adapted due to senior schools requiring online assessment, therefore children
provided e-portfolios and video submissions. The Summer term allowed a return to cricket matches against
other schools, working within year group bubbles and tight parameters, but provided competitive sport for
the first time in over a year.
Throughout July, following the end of term, tennis coaching, cricket coaching and football courses were run.
These activities were very well received by parents and children alike.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Creatlve and Performlng Arts
The profile and reputation of music at Farlei8h remains extremely high. Twenty-one members of stdff taught
a total of nearly four hundred lessons each week and we were able to secure the Services of a specialist oboe
teacher. Three pupils gained music scholarships to their senior schools (Marlborough, Radley and Wellingtonl,.
while another offered music as part of their success in an all-rounder award IBryan5tonl.
Despite the restrictions imposed throughout the COVID-19 pandemic, concerts and performances continued
during the year. A large number of concerts were live-streamed whilst some were pre-recorded and premiered
on YouTube. During the January lockdown, concerts were performed from the children's homes. At the end
of the summer term, we were able to hold a socially distanced outdoor concert (the Summer Soirée) which
was the first time OLJr ensembles had performed live since November 2019. Irb total, 34 concerts were held
over the course of the year.
100% of pupils continued their music lessons during the January lockdown and music exams continued in all
three terms, with 165 pupils taking music exam5 Wlth the ABRSM ranging from Grades 1-5. Three pupils passed
Grade 6 with merit. The vast majority of pupils were awarded a merit of distinction in their exams with an
average mark of 121. In addition, 15 pupils took exams with Trinity and RSL boards Wlth 14 of them achieving
merit or distinction level.
Regrettably, collaborations with other schools were not possible this year, but the Recital Hall was used for
external events including public Trinity exams and a Kids on Track camp.
In Arti pupils were awarded scholarships to Ampleforth, Radley and two to Bryanston- on-line exhibitions were
held of their work. Lowerdown the School, Years 3 to 5 took part in an Arts School collaborative on-line project
of Joseph and the Technicolour Dream Coat creating paper maché Egyptian Cats, and printing/painting cotton
squares which were sewn together to create the dream coat Used in their performance. Years 3 to 6 created
a Cezanne inspired mural of Farleigh woods which will be displayed outside the art room.
Drama
Due to COVID-19 restrictions, the Year 8 musical was produced as a feature film. Pupils filmed scenes
throughout the autumn and recorded songs in the school recording studio. The film was subsequently edited
and shared with the Farleigh community. Year 8 pupils and teachers were treated to a red-carpet film
premiere. In the spring term, Drama teaching throughout the School moved online for the lockdown and
included costume and set design, stage makeup, audio plays and movement work. In the summer term, the
Drama Ambassadors rehearsed and performed The Wardrobe via a live-stream,. Year 6 rehearsed and
performed A Midsummer Night's Dream in the Amphitheatre- and Year 8 Academic Scholars performed
extracts from Antigone in the Recital Hall. As theatre trips were prohibited, senior school pupils benefited from
online workshops,. a Question and Answer session with the writers of the Year 8 film,. a Diversity in Theatre
panel discussion with BAME West End performers,. and the RSC'S live performance of A Midsummer Night's
Dream. Pupils were awarded drama scholarships to Sherborne, Sherborne Girls, Radley, Ampleforth,
Downside, Bryanston and Tudor Hall.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Chapel
The Chapel provides the focal point for religious observance for the local community and within the School-
Mass is offered on Monday, Wednesday, Friday and Sunday with a whole school Mass held every other
Thursday. The Chapel's use was inevitably curtailed during the Coronavirus lockdowns, although Mass
continued to be celebrated each week and attended (virtually on You Tubel. There were 450 subscribers to
this site which wa5 viewed more than 40,000 times. First Holy Communion and Confirmation were held in the
summer term.
Regulatlon of Fundraising
Fundraising is overseen and monitored by the Board of Governors. No complaints were received regarding
the function, nor were there any request5 for suppressions from the Fundraising Preference Service, and no
vulnerable persons were solicited for funds. No outside organisations were used for the purposes of soliciting
funds durinE the period. Any donations solicited are requested and administered in accordance with the UK
Fundraising Code of Conduct and in accordance with the School's GDPR-compliant Fundraising privacy policy,
which outlines the measures taken to fundraise transparently, fairly and in accordance with lawful practices.
PLANS FOR FUTURE PERIODS
Plans to ensure the long-term success of the School are centred on four key areas.. development of the core
ethos- enhancing the curriculum,. strengthening boarding,- and ensuring the School has the right facilities and
infrastructure. After several years of Significant investment in the School's infrastructure which have included
an all-weather pitch 120151, a new music school 120161, improved boardin8 facilities120171, improved IT
facilities and Pre-Prep playground120171, enhanced sports changing rooms and catering facilities120181, the
expansion and refurbishment of the dining room120191 and three additional, modern classrooms120211, the
School's capital expenditure plans under consideration, but not yet committed, include..
Refurbishing the Senior Boarding house
Refurbishing and modernising the Theatre
Reducing the School's carbon footprint
The School will continue to invest significantly in IT assets and functionality.
Following the increase in the employerf5 contribution rate to the Teachers, Pension Scheme ITPSI from 16.4%
to 23.6% in September 2019, the School entered into consultation with all teaching staff regarding changes to
their pensions which led to new pension scheme arrangements with effect from 1st January 2021. The School
continues to monitor developments regarding TPS.
RISK MANAGEMENT
The Governors maintain oversight of the risks facing the Charity as an educational trust as well as the School
as an operating entity. Major risks are assessed, and the systems and procedures designed to manage those
risks are reviewed. Internal controls and other means of mitigating the risks, such as appropriate insurance
cover, are in place. Governors have third party indemnity insurance.
io

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 JULY 2021
Prlncipal Risks and Uncertaintles
A formal review of the Charity's Risk Management process is undertaken by the Board at each of its formal
meetings. The key controls used are=
Formal agendas for all Board and committee meetings
Terms of reference for all committees
Comprehensive pSanning, budgeting and management accounting
Established organisational structures and lines of reporting
Formal written policies
Clear authori5ation and approval levels
Use of vetting procedures as required by law for the protection of children
The principal risks currently facing the School, and the strategies for mitigating those risks, are managed using
the key controls above and can be summarised as follows:
Deep recession in the UK economy, particularly in light of COVID-19, leading to parents being unable
to afford full school fees. The School manages this risk through a strategy of robust cost control.
School closLJre or partial closure for any COVID-19 related reason leading to a loss of education for
pupils and income for the School. The risk of COVID-19 being transmitted into and within the School
is mitigated by a thorough risk assessment process and a comprehensive set of measures to mitigate
the hazards. The risk of government directed closure must be tolerated, but the effects are mitigated
by the School's proven ability to deliver excellent remote learning.
Failure of IT systems and infrastructure to meet demand. Governors are mindful of the importance of
having robust IT systems to meet both the educational needs of the School's pupils and business
requirements. Sustained investment is being made to ensure that the School's data continues to be
¥nanaEed securely and efficiently, and that Farleigh's pupils benefit from new technologies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment of Governors
Governors are elected at a meetin8 of the Board of Governors on the basis of nominations forwarded by the
Nominations Sub-committee after due consideration of their eligibility and suitability to fill any vacancies. The
Board comprises between 8 and 12 members, of which at least a two thirds majority are Roman Catholics.
Governors serve for periods of four years and after re-election can normally serve up to a maximum term of
12 years (although this may be extended in certain circumstances agreed by the Board to ensure consistency
and continuity).
Governor Induction and Training
New Governors are inducted into the workings of the Company and the School through briefings by fellow
Governors and key executives, and the provision of a comprehensive information pack. A visit to the School
soon after election and attendance on a course for new Governors, run by the Association of Governing Bodies
in Independent Schools IAGBISI, is arranged. Ongoing training is made available for all Governors and funded
by the School.
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ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIALSTATEMENTS ICONTINUEDI
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Key Management
The Governors consider that they, togetherwith the Head, the Director of Finance & Operations and the senior
managers, comprise the key manaEement Isee note 7 to the accounts). The Governors give their time freely
and the pay and remuneration of the Head and senior staff is set by the Finance Committee and is kept under
annual review. A number of criteria are used in setting pay, including:
Nature of the role and responsibilities
Competitor salaries in the region
The sector average salary for comparable positions
Trends in pay
Governance
The Board of Governors determine5 the general policies of the School and is legally responsible for its overall
management and control. The Board complies with the Code of Governance for Charities and Institutions of
a Public Character IIPCSI IApril 20171.
The Governors meet as a board at least once each term to consider business brought to them by sub-
committees, the Headmaster and the Director of Finance & Operations. The two principal sub-committees,
the Academic and Pastoral sub-committee and the Finance suk)-committee, meet at least termly, in advance
of the main meeting. During the COVID-19 situation they have met more frequently. During the year a new
Public Benefit sub-committee was also constituted- it meets twice per year, in the summer and autumn terms.
The day-to-day running of the School is delegated to the Headmaster who is a5SlSted by senior managers.
The School is a member of the Independent Association of Preparatory Schools IIAPSI, the Boarding Schools,
Association IBSAI, the Association of Governing Bodies in Independent Schoo15 IAGBISI, the Independent
Schools, Bursar Association IISBAI and the Catholic Independent Schools, Conference ICISCI.
Having routinely considered budgets, reSe￿e$, cash flow projections, risk and business plans, and having
ensured that the School has effective internal financial controls, the Governors are satisfied that the Accounts
have been prepared on a going concern basis. The Governors have also satisfied themselves that despite the
risks identified in this report, includinE those from COVID-19, the School has the ability to pay its debts not
only for the next year, but for the foreseeable future.
12

FARLEIGH SCHOOL TRUST LIMITED AND SUBSID5ARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
STATEMENT OF DIRECTORS, RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS
The Directors Iwho are also Trustees of the Company for the purposes of Charity lawl are responsible for
preparinE the Directors, Report (including the Strategic Reportl and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted
Accounting Practicel.
Company law requires the Directors to prepare financial Statements for each financial year, which give a true
and fair view of the state of affairs of the charitable Company and the Group and of the incoming resources
and application of resources, including the income and expenditure, of the charitable Company and the Group
for that period. In preparing these financial statements, the Directors are required to-
select suitable accounting policies and then apply them consistently,.
observe the methods and principle5 in the Charities SORP 2019 IFRS 1021;
make judgments and estimates that are reasonable and prudent,.
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable Company will continue in operation.
The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charitable Company and the Group and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable Company and the Group and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
AUDITORS
In accordance with the Charities Act 2011, a resolution proposing that Haysmacintyre LLP be appointed as
Auditors of the Charity will be put to a General Meeting. Haysmacintyre LLP are deemed to be appointed under
section 487121 of the Companies Act 2006.
The Board of Governors confirms there is no relevant information of which the auditors are not aware. They
have taken all steps they ought to have taken to make themselves aware of any relevant audit information
and to establish that the auditors are aware of this information.
The Directors, and Strategic report are approved by the Board at its meeting on 10 November 2021 and signed
on its behalf by..
Mr KAbel
Chair of Governor
13

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF
FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY ICONTINUED)
Oplnlon
We have audited the consolidated financial statements of Farleigh School Trust Limited for the year ended 31
July 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charitable
Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements,
including a summary of significant aCCOLJnting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practicel.
In our opinion, the financial statements:
give a true and fair view of the state of the group's and of the parent charitable companvs affairs as at 31
July 2021 and of the group's and parent charitable company's net movement in funds, including the income
and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted 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 IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the
audit of the financial statements section of our report. We are independent of the group in accordance with
the ethical requirements 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 sufficient and appropriate to provide a
basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going corbcern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as
a going concern for a period of at least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
14

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS OF
FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY ICONTINUEDI
Other information
The trustees are responsible for the other information. The other information comprise5 the information
included in the Trustees, Annual Report. Our opinion on the financial statements does not cover the other
information and, except to the extent otherwise explicitly stated in our report. we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledEe obtained in the audit or otherwise 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
information. If, based on the work we have performed, we conclude 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 Companles Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the information given in the Trustees, Annual Report Iwhich incorporates the strategic report and the
directors, report) for the financial year for which the financial statements are prepared is consistent with
the financial statements; and
the Trustees, Annual Report (which incorporates the strategic report and the directors, report) has been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent charitable company and its
environment obtained in the course of the audit, we have not identified material misstatements in the
Trustees, Annual Report Iwhich incorporates the strategic report and the directors, 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 by the parent charitable company, or returns adequate
for our audit have not been received from branches not visited by us,. or
the parent charitable company financial statements are not in agreement with the accounting records
and returns,. or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
15

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF
FARLEIGH SCHOOL TRUST LIMITEDAND SUBSIDIARY (CONTINUED)
Responsibilitles of trustees tor the financial statements
As explained more fully in the trustees, responsibilities Statement set out on page 13, the trustees (who are
a150 the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustees determine 15 necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for Bssessing the group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basi5 of accounting unless the trustees either intend to liquidate the
group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audlt of the financial statements
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 auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
Based on our understanding of the group and the environment in which it operates, we identified that the
principal risks of non-compliance with laws and regulations related to ISI regulations, safeguarding regulations,
health and safety law, GDPR and employment law and we considered the extent to which non-compliance
might have a material effect on the financial statements. We also considered those laws and regulation5 that
have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the
Charities Act 2011, and payroll tax.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial
statements (including the risk of override of controls), and determined that the principal risks were related to
posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit
procedures performed hy the engagement team included:
16

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF
FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY ICONTINUEDI
Auditor's responsibilltles for the audit of the financlal statements Icontinuedl
Inspecting correspondence with regulators and tax authorities:
Discussions with management including consideration of known or suspected instances of non-
compliance with laws and regulation and fraud,.
Evaluating management's controls designed to prevent and detect irregularities-
Identifying and testing journals, in particular journal entries Posted with unusual account combinations,
postings by unusual users or with unusual descriptions; and
Challenging assumptions and judgements made by management in their critical accountinE estimates.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
-uk
uditorsre5
onsibilities. This description forms part of our
auditorfs report.
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 matters 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 bodyi for our audit
work, for this report, or for the opinions we have formed.
Lee Stokes1Senlor Statutory Auditor)
For and on behalf of Haysmaclntyre LLP, Statutory Auditors
Date: 10 November 2021
10 Queen Street Place
London
EC4R IAG
17

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING CONSOLIDATED INCOME & EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 JULY2021
Unrestricted Restricted
Funds
Funds
2021
2021
Total
2021
Totsl
2020
Notes
INCOME FROM:
Donations and legacles
2.755
8,719
11,474
22.501
Income Charitoble actlvities
School Operating income
8.697,120
8,697,120
8,349,107
Income from other trading
activitles
Trading income
275,503
275,503
173,505
Investment income
464
464
3,738
Income from government grants
119,707
119,707
204,576
TOTAL INCOME
9,095,549
8,719 9,104,268
8,753,427
EXPENDITURE ON:
Costs of raising funds
Trading expenditure
Expenditure on charitable activities
School operating costs
103,595
103,595
83,998
8,623,590
732 8,624,322
8,519,038
TOTAL EXPENDITURE
8.727,185
732 8,727,917
8,603,036
NET INCOME AND NET
MOVEMENT IN FUNDS FOR THE
YEAR
368,364
7.987
376,351
150,391
Reconciliatlon of funds..
Total funds brought forward
17
15,465,739
270,736 15,736,475 15,586,084
Total funds carried forward
17
15,834,103
278,723 16,112.826 15,736,475
Comparatives by fund are shown in note 23. All activities are classed as continuing.
There are no other recognised gains or losses than those detailed above.
The notes on pages 21 to 42 form part of these financial slalemenls.
18

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED AND PARENT COMPANY BALANCE SHEETS
COMPANY REGISTRATION NUMBER 00905522
FOR THE YEAR ENDED 31JULY 2021
Group
Company
Notes
2021
2020
2021
2020
FIXED ASSETS
Tangible assets
16,035,018 16,437,993
123,733
188,342
16,035,018 16,437.993
123,733
188,342
CURRENT ASSETS
stock
Debtors
Cash at bank and in hand
10
11
151,404
358,952
1,718,441
120,174
226,043
857,227
151,404
6,086,554
1,718,441
120,174
5,679,994
857,227
2,228,797
1,203,444
7,956,399
6,657,395
LIABILITIES
Creditors falling due within one year
12
11,385,512) 11,353,827) 11.385,5121 {1,353,8271
Net current a5$etsllliabilitiesl
843,285
{150,3831 6,570,887
5,303.568
Total assets less current liabillties
16,878,303 16,287,610
6,694,620
5,491,910
CREDITORS: falling due after more
than one year
13
1723,8221
{498,5351
(723,822}
{498,535}
Provlsion for liabilltles
14
141,655}
152,6001
(41,6551
152,6001
NET ASSETS
16,112,826 15,736,475
5,929,143
4,940.775
FUNDS
Unreslricled funds
Restricted ftjnds
17
17
15,834,103 15,465,739
278,723
270,736
5,650,420
278,723
4,670,039
270.736
TOTAL FUNDS
17
16,112,826 15,736,475
5.929,143
4.940,775
The net movement in funds for the Company during the year was £988,36812020.' £819,138).
The Financial Statements were approved by the board on
and signed on its behalf by..
10 November 2021
Mr KAbel
Chairman
The notes on pages 2110 42 form part of these financial slalements.
19

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY2021
Total
2021
Total
2020
Notes
CASH PROVIDED BY IIUSED IN} OPERATING
ACTIVITIES
21
895,595
433,554
Cash flows from investing activities..
Interest income
Bank interest paid
Purchase of tangible fixed assets
464
3,738
11,181)
1561,532)
1320,8351
CASH USED IN INVESTING ACTIVITIES
(320,3711
{558,975}
CASH FLOWS FROM FINANCIING ACTIVITIES
Repayment of borrowing
Fees received in advan
143.3331
329,323
{43,3341
809,296
CASH PROVIDED BY FINANCING ACTIVITIES
285.990
765,962
INCREASEIIDECREASEI IN CASH AND CASH
EQUIVALENTS IN THE YEAR
861,214
640.541
Cash and cash equivalents at the beginning of
the year
857,227
216,686
TOTAL CASH AND CASH EQUIVALENTS AT
THE END OF THE YEAR
1,718,441
857,227
CASH AND CASH EQUIVALENTS:
Cash al bank and in hand
1,718,441
857,227
1,718,441
857,227
The notes on pages 2110 42 form part of these fi'nancial statements.
20

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31JULY 2021
ACCOUNTING POLICIES
The accounting policies adopted by the company are as follows:
Basis of preparation
The financial statements have been prepared in accordance with 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 Icharities SORP IFRS1021 Second
Edition; effertive l January 20191, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2006.
Farleigh House Trustee Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notelsl.
Monetary amounts in these financial statements are rounded to the nearest whole £1 except where indicated.
Group financlal statements
The financial statements consolidate the results of Farleigh School Trust Limited and the unincorporated trust
Farleigh House Educational Trust on a line~by-line basis. A separate Statement of Financial Activities and
Income and Expenditure Account for the Charity has not been presented because the Trust has taken
advantage of the exemption affected by section 408 of the Companies Act 2006.
Preparation of the accounts on a going concern basls
Having considered future risks, which are articulated in the Principal Risk Register and include risks due to
COVID-19, and reviewed future budgets and cash flow forecasts, it Is not considered that there are any
material uncertainties that would prevent the group continuing to operate as a going concern in the
foreseeable future. The financial statements have therefore been prepared on a going concern basis.
Income
Boarding and tuition fees are included within the financial statements on a receivable basis. Amounts invoiced
in advance are deferred and carried forward within creditors and accruals, whilst amounts due but not yet
received in the year are shown within debtors and prepayments. Fees from related parties are accounted for
in the same way.
Donations are included within income on a receivable basis. Trading income, which includes monies from
services, rental and letting, is accounted for on a receivable basis.
Fees and similar Income
Fees receivable and charges for services and use of premises are accounted for in the period in which the
service is provided. Fee5 receivable are stated after deducting allowances, Scholarships and other remissions
granted by the School, but include contributions received from Restricted Funds for Scholarships, Bursarie5
and other Erants. Fees received in advance of education to be provided in future years under an Advance Fee
Payments Scheme contract are held as interest-bearing liabilities until either taken to income in the term when
used or else refunded.
21

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES {CONTINUED)
Investment Income
Interest receivable on sums invested in bank deposit accounts is recorded gross. The company is not liable
to tax on this income.
Income from government grants
Income from the government's Coronavirus Job Retention Scheme is shown as income from Government
grants.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Expenditure is analysed into such categories as to reasonably enable the user to gain an appreciation of
the company's expenditure during the year. Central staff costs and some overhead expense5 are allocated
to activities on the basis of the time spent on those activities.
Governance costs comprise the cost of running the company, including strategic planning for its future
development, also external audit, any legal advice and costs of complyin8 With constitutional and statutory
requirements.
Support costs are those function5 that assist the work of the charity but do not directly undertake
charitable activities. Support costs include office, finance, personnel, payroll and governance costs which
support the charity's activities. These costs are identified within administration costs, those costs which
support trading activities are identified separately within trading expenditure.
Pension schemes
The School participates in a multi-employer pension scheme, the Government's Teachers, Pension Defined
Benefits Scheme, for its teaching staff. This scheme is administered by Teachers, Pensions. The pension
liability under this scheme is not the responsibility of the School. In January 2021 the School also
introduced an alternative defined contribution pension scheme for teaching staff the 'Aviva Pension Trust
for Independent Schools,. The School also participates in separate multi-employer schemes for support
staff. The Pensions Trust's Growth Plan was the original scheme and still has active members.
Contributions paid into this Plan up to and including September 2001 were converted into defined
benefits. From October 2001 contributions were invested in personal funds which are converted to
pension on retirement. The School pays into personal pension schemes for some support staff and from
April 2014 a new multi-employer scheme was made available under auto-enrolment rules. It is not possible
to identify the assets and liabilities attributable to the School in these schemes. Accordingly, under FRS102
they are accounted for as if they were Defined Contribution schemes. Further information on these
schemes is provided in note 7.
22

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTESTO THE FINANCSAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES ICONTINUEDI
Tangible Fixed Assets and Depreclatlon
Tangible fixed assets are stated at cost, being purchase price. or deemed cost for land and buildings
held at valuation at the date of transition to FRS 102 less accumulated depreciation and any
impairment losses. A lower limit of £1,000 is applied to individual items that are tapitalised.
Depreciation is calculated and charged on assets, excluding freehold land, to write off the cost of fixed
assets to their residual value over their expected useful lives to the group. The annual depreciation
rates and methods of calculation are as follows:
Freehold land
Freehold property and improvements to premises
Furniture and equipment
Motor vehicles
Computer equipment
no depreciation
2.5% - IOYO Straight line
20% Stralght line
25% Reducing balance
33% Straight line
The valuation of freehold property and improvements to premises has not been updated. Freehold
premises were previously revalued in 1987.
Assets under construction are stated at cost, being the total cost incurred to date with no depreciation
being char8ed until the asset comes into full use.
Deemed cost of fixed assets
Specific fixed assets have been revalued to deemed c05t as allowed upon transition to FRS 102 based
on assumptions made by an independent property consultant. The trustees are satisfied that the
assumptions made are appropriate.
Leased asset5
The charity classifies the lease of IT equipment, printers and the minibuses as operating leases,. the
title to the equipment remains with the lessor and the equipment is replaced every 4-5 years whilst
the economic life of such equipment is at least 10 years. Rental charges are charged on a straight line
basis over the lease term.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are measured at amortised
cost using the effective interest method.
23

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES (CONTINUED)
Borrowing cost5
BorrowinE Costs relating to freehold land & buildings or improvements which are directly attributable
to the acquisition, construction or production of the asset are capitalised. All other borrowin8 Costs
are expensed as incurred.
Stocks
Stocks are stated at the lower of their cost, being purchase price, and net realisable value.
Debtors
Trade and other debtors are recognised at settlement amount due after any discount offered.
Prepayments are valued at the amount prepaid net of any discounts due.
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 the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliably. Creditors and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.
Critical accounting estimates and areas of Sudgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
The charity makes estimates and assumptions concerning the future. The resulting accounting
estimates and assumption5 will, by definition, seldom equal the related actual results. The pension
liability provision referred to above and in note 7 is based on assumptions and estimates provided by
The Pension Trust and the Farleigh Trustees are satisfied that The Pension Trust estimates are
reasonable. There are considered to be no other estimates and assumptions that have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year.
Employee benefits
The cost of employee benefits are recognised as an expense in the period to which they relate.
Termination payments
The best estimate of the expenditure required to settle an obligation for termination benefits is
recognised immediately as an expense when the charity is demonstrably committed to terminate the
employment of an employee or to provide termination benefits.
24

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES (CONTINUED)
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity
Idailyl.
Taxation Status
The charity is an exempt charity and is therefore not liable to Corporation Tax in respect of its
charitable activities.
Fund Accountlng
The nature and purpose of each fund is described in note 17.
Unrestricted funds are defined as income realised or generated forthe objectives of the group without
further specified purpose and which are available as general funds.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which
meets these criteria, will be identified to the fund.
Designated funds are to be used for a specific purpose a5 laid down by the Directors. Expenditure
which meets these criteria will be identified to the fund.
LEGAL STATUS OF THE TRUST
The Trust is a company limited by guarantee and has no share capital. In the event of the Charity being
wound up, the liak>ility in respect of the guarantee is limited to £1 per member.
INCOME FROM DONATIONS AND LEGACIES
2021
2020
Gifts
11,474
22,501
The income from donations and legacies is made up of unrestricted £2,755 12020.. £18,675) and
restricted £8,71912020: £3,826). The restricted income is made up of £8,719 in respect of the St
Theresa Fund, see note 17.
SCHOOL OPERATING INCOME
2021
2020
Fees
Gross fees
Less.. Totsl Scholarships, bursaries and allowances
COVID-19 discount (summer lemil
RechaTged extras
9,217,579
1479,2671
1537,003)
495.811
8,849,208
{475,9551
{452,6651
428,519
8,697.120
8,349,107
25

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2021
TRADING ANDANCILLARY INCOME
2021
2020
Holiday activities
Clothing shop
Swimming pool
Disbursements and miscellaneous
51.935
94,922
34,345
94,301
22,908
60,221
42,261
48,115
275,503
173,505
EXPENDITURE
2021
2020
Trading expenditure
Cost of goods sold
Clothing shop and swimming pool salaries
Bank and loan interest
Bank charges
Advance fee finance costs
76.081
18,599
46,730
16,168
1,181
10,911
9,008
4,587
4,328
103,595
83,998
School operating costs
Teaching salaries and related costs
Adminislralive staff salaries and related costs
Office costs and supplies
Welfare
Propèrty and grounds
School expenses
Marketing, recruilmenl and advertising
Scholarships and prizes
Accountancy fees
Legal and professional fees
Provision for doubtful debts
Depreciation
Callaghan Fund
Dodd Fund
Landscape fund
General expenses
Governance costs (see below)
4,256,679
1,600,169
194,362
470,773
733,945
453,117
68.128
6,971
4,170,345
1,525,668
197,415
346,679
790,862
452,179
62,809
4,036
2,160
67,624
662
814,831
300
36,602
196
723,810
300
432
16
63,755
19,697
59.328
19,510
8,624,322
8,519,038
26

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
EXPENDITURE {contlnuedl
Governance costs (Including in school operating costs above)
2021
2020
Auditor's remuneration
Governors. training and expenses
19,280
230
19,000
697
19,510
19,697
SALARIES AND RELATED COSTS
Included within school operating Costs are the following..
WAGES AND SALARIES
2021
2020
Salaries and wages
Employers, Nl
Pension contributions- defined benefits
Pension contributions- defined contribution
4,504,002
424,599
624,599
77,212
4,346,843
409,592
644.133
47,390
5,630.412
5.447,958
The average number of staff are..
2021
2020
Full time
Part time
Full tlme
Parttlme
Academic
Administration and support
In class support
62
31
10
24
46
13
56
30
31
44
13
103
83
92
88
The number of employees earning over E60,000 was as follows..
2021
2020
Between £60,001 and £70,000
Between £80,001 and £90,000
Between £140.001 and £150,000
In addition, pension contributions totallin8 £62,94912020.. £75,714) were made in respect of the above
employees earning over £60,000.
27

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
SALARIES AND RELATED COSTS (continued)
The key management of the Group and Charity are the Governors and senior management team
comprising of the Headmaster, Director of Finance and Operations, Deputy Head of Academic, Deputy
Head of Pastoral, and Head of Pre-prep. The remuneration including benefits of key management
personnel for the group was £546,03312020'. £545,466).
There were no payments to the Governors during the year. During the year 3 governors had children at
the school12020= 31 and fees were paid on normal terms. The wife of S Henderson works in the MUSIC
department and is paid a salary under normal terms in accordance with the FarleiEh School pay-scale. S
Henderson is a Eovernor of the School. The School has paid for Trustee Indemnity Insurance for the year.
the insurance premium is £1,44512020-. £1,868).
There were no termination payments made to staff during the year12020'. None).
PENSION AND SIMILAR OBLIGATIONS
Teachers, Pension Scheme
The School participates in the Teachers, Pension Scheme I'the TPS'I for its teaching staff. The pension
charge for the year includes contributions payable to the TPS of £600,87112020.. E618,5411 and at the
year end £63,50812020'. £76,433) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers,
Pensions Regulations 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 las
amended). Member5 contribute on a "pay as you go" basis with contributions from members and the
employer being credited to the Exchequer. Retirement and other pension benefits are paid by public
funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken
by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared
as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the
employer contribution rate for the TPS would increase from 16.4Yo to 23.6% from I September 2019.
Employers are also required to pay a scheme administration levy of 0.08Y. giving a total employer
contribution rate of 23.68Yo.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme
regulations and underthe approach specified in the Directions, as they applied at 5 March 2019. However,
the assumptions were considered and set by the Department for Education prior to the ruling in the
'McCloud/SarEeant case,. This case has required the courts to consider cases regarding the
implementation of the 2015 reforms to Public Service Pension5 including the Teachers, Pensions.
28

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
SALARIES AND RELATED COSTS (continued)
PENSION AND SIMILAR OBLIGATIONS (continued)
Teachers, Pension Scheme {continued}
On 27 June 2020 the Supreme Court denied the government permission to appeal the Court of Appeal's
judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to
unlawful age discrimination. The government is respecting the Court's decislon and has said it will engage
fully with the Employment Tribunal as well as employer and member representatives to agree how the
discriminations will be remedied. A consultation was launched by the government on 16 July 2020 and
closed to responses on 11 October 2020.
The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen
changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would
be a review of this cost cap mechanism, in January 2020 announced a pause to the cost cap mechanism
following the Court of Appeal's ruling in the McCloud/5argeant case and until there is certainty about the
value of pensions to employees from April 2015 onwards. The pause was lifted in july 2021 and the
government is preparing to complete the cost control element of the 2016 valuations which is expected
to be completed in 2021.
In view of the above rulings and decisions the assumptions Used in the 31 March 2016 Actuarial Valuation
may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and
5UltalJly revised assumptions would yield different results from those contained in the Actuarial Valuation.
Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on
any financial impact or future changes to the contribution rates of the TPS. Accordingly, no provision for
any additional past benefit pension costs is included in these financial statements.
The Aviva Pension Trust for Independent Schools (APTISI
Following the increase in the employer contribution rate to the TPS from 16.4% to 23.6% in September
2019, the School entered into consultation with all teaching staff regarding changes to their pension5.
Subsequent to consultation an alternative, defined contribution pension scheme, the Aviva Pension Trust
for Independent Schools IAPTISI. was introduced for teachers on I, January 2021. Teachers were given
the option to either stay in TPS and accept a reduction in gross sa5ary or join the new APTIS scheme.
In the year ended 31 July 2021 the pension cost charge for this scheme amounted to £29,45612020'. £nill.
At the year end there was a creditor of £8612020.. £nill.
The Pensions Trust Growth Plan
The company participates in The Pensions Trusys Growth Plan, a multi-employer scheme which provides
benefits to some 1,300 non-associated participating employers. The scheme 15 a defined benefit scheme
in the UK. It is not Possible for the company to obtain sufficient information to enable it to account for
the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution
scheme.
29

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
SALARIES AND RELATED COSTS {continuedl
PENSION AND SIMILAR OBLIGATIONS (continued)
The Pensions Trust Growth Plan (continued)
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force
on 30 December 2005. This, together with documents issued by the PeTrsions Regulator and Technical
Artuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined
benefit occupational pension schemes in the UK.
The scheme is classified as a 'last-man standing arrangement, Therefore, the company is potentially liable
for other participating employers, obligations if those employers are unable to meet their share of the
scheme deficit following withdrawal from the scheme. Participating employers are legally required to
meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed
assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the
scheme Trustee has asked the participating employers to pay additional contributions as follows:
Deficit contributions {all partlcipating employers)
From l April 2022 to 31 January
£3,312,000 per annum
2025..
(payable monthly with no annual increase)
Unless a concession has been agreed with the Trustee the term to 31 January 2025 applie5. The recoverv
plan contributions are allocated to each participating employer in line with their estimated share of the
Series l and Series 2 scheme liabilities.
Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the
company recognises a liability for this obligation. The amount recognised is the net present value of the
deficit reduction contributions payable under the agreement that relates to the deficit. The present value
is calculated using the discount rate detailed in these disclosures. The unwindinE of the discount rate is
recognised as a finance cost.
The net present value of the provision has been calculated by the Pensions Trust for the comparby as
follows=
20211£,0001
42
20201£,(KIO)
53
20191£,0001
62
Net present value
Discount rate
0.57Y.
0.60%
1.00%
Under FR5102 this has been included as a provision for liability in the accounts.
30

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
SALARIES AND RELATED COSTS Icontlnuedl
PENSION AND SIMILAR OBLIGATIONS (continued)
The Penslons Trust Growth Plan (continued)
In the year ended 31 July 2021 the pension cost charge for support staff included in The Pensions Trust's
Growth Plan amounted to £24,66212020.. £25,566) and deficit contributions of £11,24612020.' £10,9181.
At the year end there was no creditor except the provision above.
other Pension Schemes
A multi-employer, auto-enrolment occupational scheme, set up in April 2014, is available to employees
not eligible for the Teachers, Pension Scheme. It is a defined contribution scheme. The assets of the
Scheme are held separately from those of the School in independently administered funds. In the year
ended 31 july 2021 the pension cost charge amounted to £39,02812020: £38,773). At the year end there
was a creditor of £8,17412020: £7,887).
FIXED ASSETS
Group
Land, freehold
Premlses and
Improvements
Furniture
and
Equipment
Motor
Vehicle8
Computer
Equipment
Total
C05tlDeemed cost
At 1 August 2020
21,248,739
742,610
11,994
375,673
22,379,016
Additions
273,651
22,910
24,274
320,835
At 31 July 2021
21,522,390
765,520
11,994
399,947
22,699,851
Depreclatlon
Al 1 August 2020
4,999,088
617,859
7,747
316,329
5.941,023
Charge for year
612,017
68,514
1,062
42,217
723,810
At 31 July 2021
5,611,105
686,373
8,809
358,546
6,664.833
Net book value
At 31 July 2021
15,911,285
79.147
3.185
41,401
16,035,018
At 1 August 2020
16,249,651
124,751
4,247
59,344
16,437.993
31

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
FIXED ASSETS (continued)
Parent company
Furniture
and
Equipment
Motor
Vehicles
Computgr
Equipment
Total
CostlDeemed cost
At 1 August 2020
742.610
11,994
375,673
1.130,277
Additions
22,910
24.274
47,184
At 31 July 2021
765,520
11.994
399,947
1,177,461
Depreciatlon
At 1 August 2020
617.859
7,747
316,329
941,935
Charge for year
68,514
1,062
42,217
111,793
At 31 July 2021
686,373
8,809
358,546
1,053,728
Net book value
At 31 July 2021
79,147
3,185
41,401
123.733
At 1 August 2020
124.751
4,247
59,344
188,342
INVESTMENTS
On l August 2017 Farleigh House Educational Trust changed its name to Farleigh School Educational
Trust Ithe unincorporated charity). Farleigh School Educational Trust IS the wholly owned subsidiary of
Farleigh School Trust Limited and holds the property assets of the group in trust to ensure it remains
available for the purposes of education as laid out in the group's principal activity. Farleigh School Trust
Limited is the ultimate controlling party.
The Net Assets of the unincorporated charity are £10.183,68312020'. £10,795,700) made up of the land
and building assets.
32

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
INVESTMENTS (continued)
The statement of financial activities for the year is as follows..
2021
2020
Total Income
Total Expenditure
Net movement in funds for the year
1612,0171
1612,0171
1668,7471
1668,7471
Total funds carried forward
10,183,683
10,795,700
10. STOCK
Group
2021
Group
2020
Company
2021
Company
2020
Stock
151,404
120,174
151,404
120,174
11. DEBTORS
Group
2021
Group
2020
Company
2021
Company
2020
Fees and disbursements
53,842
54,509
53,842
54,509
Summer term disbursements
Other debtors
Amounts owed by group entities
Piepaymenl and accrued income
114,941
28,932
73,348
35,499
114,941
28.932
6,727,602
161,237
73,348
35,499
5,453,951
62,687
161,237
62,687
358.952
226,043
6,086,554
5,679,994
The amounts owed by group enlilies arose from the School paying for building improvements on the assets
owned by Farleigh School Educational Trust.
33

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2021
Group
2020
Company
2021
Company
2020
Fee deposits held
Bank loans (see note 13)
Trade creditors
Fees received in advance
Fees in advance scheme (see note 15}
Holiday pay accrual
Other creditors and accruals
Pension creditor
Tax and social security
33,000
237,928
43,333
5,303
173,452
200,626
345,452
155.325
86,838
105,570
33,000
237,928
43,333
5,303
173,452
200,626
345,452
155,325
86,838
105,570
296,488
223,399
218,756
341,744
96,356
74,378
101,391
296,488
223,399
218,756
341,744
96,356
74,378
101,391
1,385,512
1,353,827
1,385,512
1,353.827
13. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group and
Company
2021
Group and
Company
2020
Fees received in advance scheme15ee note 151
Fee deposits held
515,394
208,428
498,535
723,822
498,535
Group and
Company
2021
Group and
Company
2020
Loan maturity
Within one year
Between one and two years
Between two and five years
43,333
43,333
34

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
14. PENSION PROVISION
Group and
Company
2021
Group and
Company
2020
Opening balance
Movement in provision Inote 71
52,600
110,9451
62,485
19,8851
41,655
52,600
15. ADVANCE FEE PAYMENTS
Parents may enter into a contract to pay to the school tuition fees in advance. The money may be
returned subject to specific conditions on the receipt of one term's notice. Assuming pupils will remain
in the school, advance fees will be applied as follows..
2021
2020
Within one year
218,756
200,626
Within one to two years
Within two to five years
139,895
37S,499
142,537
355,998
734,150
699,161
35

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
16. COMMITMENTS UNDER OPERATING LEASES
At 31 July 2021 the charity had aggregate annual commitments under non-cancellable operating
leases for hire of plant, machinery and equipment as set out below..
Group and
Companv
2021
Group and
Company
2020
Amounts due=
Within one year
Between one and two years
87,798
131,750
70,960
72,126
219,548
143,086
17. ACCUMULATED FUNDS
Transfer
Between
Funds
At l August
2020
At 31 July
2021
Income
Expenditure
Group
Unrestricted fund
15,465,739
9,095,549
18,727,185)
15,834,103
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
9,221
1,996
18,013
10,000
229,593
1,913
8,921
1,996
18,013
9,568
238,312
13001
14321
8.719
Total restricted funds
270.736
8,719
17321
278,723
Total Funds
15,736,475
9,104,268
18,727,917)
16,112,826
Unrestricted fund includes a revalijation reserve of £5,919,919.
The B Harrison Fund represents monies received from an individual to provide one student with cricket
equipment each year as a form of prize for achievement.
36

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
17. ACCUMULATED FUNDS {continued}
The Callaghan Fund represents monies received to provide award5 to students at the end of the
academic year.
The Rugby Fund represents monies received from an individual to provide opportunities to students to
attend rugby trips abroad.
The Landscape Fund represents donations received to plant 60 trees as a living and enduring
commemoration of the Jubilee year, which will a150 benefit future generations.
The Farleigh Society Fund represents funds paid to the Farleigh Society for former pupils. The society
keeps the school connected to its former pupils and holds regular reunion events, this enables the
school to continue to see their former pupils develop.
The Dodd Fund supports SEN provision within the School and the purchase of equipment for children
with disabilities.
The St Theresa Fund Iformerly known as The Dillon Fundl represents donations to enable children from
disadvantaged backgrounds to access a boarding education at Farleigh. In 2017 the fund became the St
Theresa Fund with donations made to continue the scheme set up under the Dillon Fund.
Transfer
Between
Funds
At l August
2020
At 31 July
2021
In¢ome
Expendlture
Company
Unrestricted fund
4,670,039
9,095,549
18,115,1681
5,650,420
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
9,221
1,996
18,013
10,000
229,593
1,913
8,921
1,996
18,013
9,568
238,312
13001
14321
8,719
Total restricted funds
270,736
8,719
17321
278,723
Total Funds
4,940,775
9,104,268
18,115,900)
5,929,143
37

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
17. ACCUMULATED FUNDS Icontinuedl
Comparative Figures
Transfer
Between
Funds
At l August
2019
At 31 July
2020
Income
Expenditure
Group
Unrestricted fund
15,318,858
8,749,601
18,602,720)
15,465,739
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Landscape Fund
FarleiEh Society Fund
Dodd Fund
St Theresa Fund
1,913
9,521
1.996
16
18,013
10,000
225,767
1,913
9,221
1,996
13001
1161
18,013
10,000
229,593
3,826
Total restricted fund5
267,226
3,826
13161
270,736
Total Funds
15,586,084
8,753,427
18,603,036)
15,736,475
Transfer
Between
Funds
At l August
2019
At 31 July
2020
Income
Expenditure
Company
Unrestricted fund
3,854,411
8,749,601
17,933,973)
4,670,039
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Landscape Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
9,521
1,996
16
18,013
10,000
225,767
1,913
9,221
1,996
13001
1161
18,013
10,000
229,593
3,826
Total restrlcted funds
267,226
3,826
13161
270,736
Total Funds
4,121,637
8,753,427
17,934,289)
4,940,775
38

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2021
Group
Unrestricted
Funds
Restricted
Funds
2021
Total
Tangible fixed assets
Current assets
Current liabilities
Long term liabilitie5
16.035,018
1,950.074
11,385,512)
(765,477}
16,035,018
2,228,797
11.385,5121
1765,4771
278,723
Total net assets
15,834,103
278,723
16,112.826
Company
Unrestrlcted
Funds
Restricted
Funds
2021
Total
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
123,733
7,677,676
11,385.512)
1765,477)
123,733
7,956,399
11,385,512)
1765.4771
278,723
Total net assets
5,650,420
278,723
5.929,143
39

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS {Continued)
2020
Group
Unrestricted
Funds
Restricted
Funds
2020
Total
Tangible fixed assets
Current assets
Current liabilities
LonE term liabilities
16,437,993
932,708
11,353,827)
(551,135}
16,437,993
1,203,444
11,353,827)
1551,1351
270,736
Total net assets
15,465,739
270,736
15,736,475
Company
Unrestricted
Funds
Restricted
Funds
2020
Total
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
188,342
6,386,659
(1.353,8271
{551,135}
188,342
6,657,3g5
11,353,827}
1551,1351
270,736
Total nel assets
4.670,039
270,736
4,940,775
19. CAPITAL COMMITMENTS
Capital expenditure of £186,07312020'. £0) had been authorised by the Governors and was committed
to at the balance sheet date.
20. RELATED PARTY TRANSACTIONS
During the year no donations were received from Governors12020: £Nill. There were no other related
party transactions in the current or preceding year.
The wife of s Henderson works in the Music department and is paid a salary under normal terms in
accordance with the Farleigh School pay-scale. S Henderson is a Eovernor of the School.
40

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
21. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
Group
2021
Group
2020
Net movement in funds
Deposit interest receivable
Bank interest payable
Finance cost on advanced fees
375,887
150,391
13,7381
1,181
9,008
4,328
Operating surplus
Depreciation of tangible assets
Ilncreasel in stocks
Decreaselllncreasel in debtors
Increase/ldecreasel in creditors
Advanced fees drawdown
Loss on sale of fixed assets
Movement in provisions for liabilities
380,215
723,810
131,2301
1132,9091
265,316
1298,6621
156,842
814,831
12,343
85,021
170,8221
1554,7761
110,945
19,8851
895,595
433,554
22. ANALYSIS OF CHANGES IN NET DEBT
Atl
August Cash flows
2020
£'ooo
Other
non-cash
Changes
£'ooo
At31
July
2021
£'ooo
Fair value
movements
£'ooo
£'ooo
Cash and cash equivalents
Cash
Overdrafts
Cash equivalents
857,227
861,214
1,718,441
Borrowings
Debt due within one year
143,3331
43,333
Debt due after one year
Total
813,894
904,547
1,718,441
41

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
23. PRIOR YEAR COMPARATIVES BY FUND
Unrestrlcted Restricted
Funds
Funds
2020
2020
Total
2020
Notes
INCOME FROM..
Donations and legacles
18,675
3,826
22,501
Income Charitable activities
School Operating income
8,349.107
8,349,107
Income from other trading
activities
Trading income
173,505
173,505
Investment income
3,738
3.738
Income from government gr8nls
204,576
204,576
TOTAL INCOME
8,749.601
3,826 8,753,427
EXPENDITURE ON:
Costs of raising funds
Trading expenditure
Expenditure on charitable activities
School operating costs
83,998
83.998
8,518,722
316 8,519,038
TOTAL EXPENDITURE
8,602,720
316 8,603,036
NET INCOME AND NET
MOVEMENT IN FUNDS FOR THE
YEAR
146,881
3,510
150,391
Reconcillation of funds..
Total funds brought forward
17
15,318,858
267,226 15,586,084
Total funds carried forward
17
15,465,739
270,736 15,736,475
42