FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Company Number: 00905522
Charity Registration Number: 1157842

FARLEIGH SCHOOL TRUST UMITED AND SUBSIDIARY
INDEX TOTHE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Annual Report of the Governors incorporating the Strategic Report
1-12
Independent Auditorfs Report
13-16
Consolidated Statement of Financial Artivltles
17
Consolidated and Parent Company Balance Sheets
18
Consolidated Cash Flow Statement
19
Note5 to the Financial Statements
20-42

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORTOFTHE GOVERNORS ON THE FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
INTRODucfioN
The Board of Directors present their annual report for the year ended 31 July 2023, together with the audited
consolidated financial statements of Farleigh School Trust Limited (the "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
Articles of Association, and Accounting and Reporting by Charities Statement of Recommended Practice
pplicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland Icharities SORP IFRS 1021 Second Edition; effective l January 20191.
Farleigh School Trust Limited is a charitable Company, reBlSte￿d Charity number 1157842, Company
registration number 00905522. The Registered Office and principal address of the Company is at Red Rice,
Andover, Hampshire SPII 7PW.
Directors
The Directors of the Company are also Governors of the School and its Trustees for the purpose of Charity law.
The Directors seNing during the year and since the year end were as follows:
Jane Vyvyan Ichairl.
Keith Abel (Resigned as Chair and from the Board 9th December 20221
simon Henderson (Vice Chairl
Emma Todd (Vice Chairl
Kirsty Anderson
Charles Ingram Evans
Hugo Keith KC
Fr Oswald McBride
Malcolm Millar (Appointed I, August 20231
Gilly Orr"
Sarah Raffray (Resigned 31 December 20221
**
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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
Chair of Nominations Committee
The Board of Governors and the sub-committees normally meet three times a year and the Public Benefit
Committee meets twice per year. New Directors are appointed by the Board of Governors, serve for periods
of four years and are eligible for re-election, r)ormally up to a maximum period of 12 years.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANaAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Key Management Personnel
Key management personnel seNing during the year were as follows:
Fr Simon Everson, Headmaster
Paul Lane, Director of Finance & Operations / Q)mpany Secretary
janet Watts, Deputy Head IAcademicl
Ben Wood, Deputy Head (Organisation with Pastoral Oversight)
Sue Wilton, Head of Pre-Prep
Professional Advisers
Bankers
Solicitors
Auditors
Haysmacintyre LLP
10 Queen Street Place
London
HSBC Bank Plt
West End Area Commercial Centre
2 Floor, 16 King Street
London WC2E 8JF
Wilsons Solicitors LLP
Alexandra House
St John's Street
Salisbury SPI 2SB
EC4R IAG
OBjE￿s, AIMS, oBJE￿IVEs 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 education, in each case for the public benefit.
Strateglc Alm and Intended Effect
The School's strategic aim is to achieve pupil attendance of boys and Eirls at around 460 children, with a strong
boarding element and with a particular focus on those of the Roman Catholic faith, but also welcoming non-
Catholics.
Objectives of the Year
The Board's principal objertive is to provide a financially stable infrastructure 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.
Mission Statement
Serving Christ in all we do.
Ethos and Aims
Farleigh 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, tultural 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;

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
To create a well-ordered and caring School community, where the self-respect and dignity of each
person will flourish,.
To help Farleigh pupils to grow up honourably, inspired by high ideals, so that they may serve others
generously, and be strong in friendship and family.
FarleiEh School's aims are..
To ensure the development of the School's children, spiritually, morallyi 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 Farleigh a special place for children to enjoy a part of their childhood, through warm pastoral
care of the highest standard.
Principal Activity
The School's principal activity continues 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 IPrepl School.
PUBLIC BENEFIT
The Board has again taken heed of the Charity Commission's guidance on public benefit and is satisfied that
relevant, current activities comply with this guidance. The strong Catholic ethos of the School underpins the
commitment of the School to serving others. The Governors, Public Benefit Committee continues to encourage
and monitor the School's contribution to Public Benefit.
Access to the School
The Board continue5 to open up opportunities to children who would not, for financial reasons, normally be
able to attend FarleiEh. The School offer5 two places, one of which was taken up during the year, for
transformational, 110% bursaries for children identified in conjunction with the Royal National Children's
Sprin8Board Foundation.
Community 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 projects, both locally and further afield. These
included interaction with Icknield Special School in Andover, whose pupils came and used the School's space
and facilities. Farleigh children spent time with elderly residents at a local care home. A local charityi Kids on
Track Andover, used Farleigh's facilities, and outdoor holiday games and activities were run in the spring and
5ufflmer holidays for current pupils and local children.
Religious Support
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. Fr Simon also provided pastoral support to members of the Parish in

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2023
the form of funerals, baptisms and weddings as requi￿d. £13,60912022- £6,564) was donated to Parish funds
from the Chapel collections.
Sportlng & Other Facilities
The School's grounds, sport5 facilities and Music school were used for community activities during the school
holidays. This year these included:
A popular'come and Sing, day for the local community,.
Kids On Track, Andover, used the Theatre, Sports Hall, Recital Hall, food technology laboratory, all-
weather pitch, grounds and School minibuses during the holidays,.
The swimming pool was open to local primary schools, external swim schools, local residents,
groups, individual local residents. and Farleigh families;
Alpha Away Day faith classes were hosted by the School-
Touch Typing courses from 'Type By Touch, were hosted for Farleigh pupils and children from the
local area;
Andover Hockey Club and Andover Netball Club used the all-weather pitches and netball courts,
respectivelyi
Sarum Club Orienteering took place in the summer holidays;
Andover Triathlon Competition took place during the summer holidays.
Charity Fundraising
Funds for charity are raised collectively, as a whole School community, and also by small groups of pupils or
individuals. In total the School raised £13.690.36 for charity during the year. The School identified and
supported two main charities.. Mary's Meals1£5,3921 and Purple Oak I£5,0391. In addition to these charities,
the School continued to support Macmillan Cancer, Kids on Track and Andover Foodbank. The School also
raised £2,266 for The Cotjntess of Brecknock Hospice in memory of a former Director of Sport at Farleigh.
STRATEGIC REPORT
FSnancial Review
Total income for the year amounted to £10,769,43412022: £9,900,4751, including £470,68612022: £323,9771
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 September 2022.
Total expenditure amounted to £10,673,47312022- £9,547,131).
The surplus fund5 generated during the year and available for reseNes or reinvestment in the facilities of the
School were therefore £95,961 12022.. £353,344). Cash and cash equivalents have decreased by £170,555
during the year due to capital experbditure projects. There was a net decrease in fees received in advance, of
£166,249, and the closing bank and cash balance was £1,882,573.
Reserve5
The unrestricted funds of the Group lincluding fixed assetsl increased by £119,205 to £16,285,014 at the year
end. The net book value of tangible fixed assets was £16,323,244 resulting in there being no free reserves, but

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
careful management of short term liquid resources, ensures that the need for day-to-day working capital is
met. The School's policy for free reserves, which are the unrestricted reserves less fixed assets, 15 Still to build
cash resetves generated from the running of the School to £1.25m arbd strategically to invest surpluses in
developing the buildings, equipment, staff and resources. Thi5 level of cash held is not considered to be
excessive.
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 13 pupils12022'. 131, amounting to £133,38812022'. £136,1391- The total
fee asslstance amounted to £519,60812022'. £517,353).
Investment Performance
Any uncommitted funds are placed on deposit. Interest received in the period amounted to £25,79112022=
£2591.
Revaluation
As part of the transition to FRS102 a revaluation was carried out in 2015 by independent valuers of the land
and property of the School. As at 31 July 2015 Idate 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 funds.
REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR
Pupil numbers
Pupil numbers continue to be strong, averaging 475 overthe year. Boarding is an important part of the School's
life with over 25% of Prep school pupils full or weekly boarding. Flexi-boarding is also available.
Operational Performance and Cornpliante
Having been inspected by the Independent Schools Inspectorate in early 2022 and found to be fully compliant,
the School continues to adhere to the standards in the schedule to the Education Ilndependent Schools
Standards) Regulations 2014, the National Minimum Standards for Boarding Schoo15 2015, and relevant
requirements of the statutory framework for the Early Years Foundation Stage, and associated requirements.
Teaching and Learning
Prep school
The School has continued to thrive on the academic front, with pupils throughout the School making excellent
progress across a variety of aspects of School life. Pupils in Year 8 secured twenty-nine scholarship awards for
Academic Studies, Sport, Music, Drama, Art and as All-Rounders. A boy in Year 6 was also awarded a Head's
Scholarship to his future school. Post scholarship, Year 8 pupils took part in an enrichment programme which
included learning new languages, delving deeper into religiou5 Studies, studyinE for the nationally
recognised Independent Project QLJalification and conducting trips to the Ashmolean Museum, Bletchley

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Park and the British Museum. Other Year 8 pupils performed extremely well in Common Entrance ICE) exams
with excellent results. Marlborough College recognised one pupil for being in the top 5 CE pupils entering the
College and another for having the highest mark in science.
The year saw the introduction of a timetabled enrichment programme for Year 7 which enhanced their study
of current affairs, history and culture. Year 6 pupils successfully gained places in senior schools through the
pre-assessment route, with this being the School's most successful year for the number of entries into three
of the most sought after senior schools. Year 6 Spent a very productive week in France improving their speaking
ability and understanding of French culture.
Pupils in the lower school (Years 3 to 51 made excellent progress in reading, writing and mathematics and they
received specialised teachinE in Art, Design Technology, French and Sport. An increased focus on active learning
with an immersive curriculum further brought learning to life. The topics used were cross-curricular enabling
the children to learn in greater depth. Their programmes were enhanced by interactive experiences at The
Watermill Theatre, Butser Ancient Farm and RHS Wisley.
Pre-Prep school
The Pre-Prep has had another very successful year,. it continues to be close to full in all year groups reflecting
its high standing. It offers a balance of education, play and physical activity with a wide range of opportunities
for all children.
The high standards expected in all yeargroups are met by the regular monitoring of books, lesson observations
and pupil progress meetings. Two different baseline assessments provided teachers with a wealth of
information and there has been clear evidence of value added throughout the year. Throughout all year groups
regular standardised assessments in reading, maths and spellinE help to track children's progress and there
are close links with the Prep School. This information is used throughout a child's time at Farleigh to monitor,
track and support learning achievements.
The Phonics scheme, Little Wandle, has been firmly embedded and online and physical resources have been
purchased to support the ongoing development of Maths.
The Learning Support department and the Pre-Prep intervention teaching assistant have helped identify and
fill gaps in learning and assist in the provision of support both in the classroom and with individual sUPPOrt.
Specific children's learning needs are assessed internally and by external assessment from educational
psychologists or assessors of specific learning needs. Extra provision is provided for each child according to
their needs.
The Pre-Prep woods continue to be used regularly both for cross curricular teaching and specifically to develop
the pupils, outdoorskills, with timetabled forest school sessions, and are highly regarded by parents as offering
an added dimension to the curriculum with the fun of outdoor learning and as an excellent learning
environment.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2023
Sport
Sport is an integral part of daily Farleigh life, and the School has continued to invest in facilities, staffing and
professional training opportunities for staff 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 Kindergarten to Year 8 are taught by well qualified specialist5 and focus primarily on the
children's physical literacy. The games programme, for Year l and above is designed to develop the children's
understanding of spatial awareness, tactics and competitive playi Year 3 and above complete rugby, football,
netball, hockey, and cricket, taking a full part in inter-house competitions. Swimming lessons are taught for
Reception to Year 5, and for older year groups swimmirbg was conducted as part of PE lessons in Years 6 and
7 with fitness and lifesaving as the focus. An increase in Eymnastics provision and equipment has been put in
place under the guidance of gymnastit specialist staff and we are seeing an upward trend for the aesthetic
sports.
SOCS software has been successfully introduced as the main communication tool for sports fixture5, calendar
and team selections. This can be accessed by parent phones via apps and has been well received by parents
and staff alike.
Throughout the year, a full range of holiday courses are organised for children at the School and from the local
community. These popular activities are primarily led by the sports team. The programmes include multi-
activities, football, cricket, gymnastics, athletics, bushcraft, cooking and arts and crafts.
This year pupils throughout the School excelled in a wide range of tournaments, Independent Association of
Prep School IIAPSI events and county competitions. Over 80 children represented the School at the IAPS
National Finals for Athletics, Football, Netball, and Cricket. The girls, team became IAPS National Cricket
Champions and the boys, team were runners up in their equivalent championships. The Year 8 cohort achieved
nine sport scholarships, an all-time high for the Sports Department.
Creatlve and Performing Arts
The profile and reputation of mijsic at Farleigh remains extremely high with twenty member5 of staff teaching
a total of around 360 lessons each week. Three pupils gained music scholarships to their senior schools along
with two pupils offering music in their successful applications for an All-Rounder Award for Music and a
Performing Arts Award.
In total, 36 concerts were programmed over the course of the year. These ranged from frequent early-
evening Informal Concerts to more formal concerts held in the late-evening. Our ensembles performed in two
[a￿e concerts. the St Cecilia Concert and Summer Soirée. Over 120 pianists took part in the seventh annual
Piano Festival which was adjudicated by the Deputy Director of Music and Head of Keyboard at Bryanston. The
2020 winner of GermanV5 'Das Supertalenv adjudicated and performed at the 'Battle of the Bands,. In
addition, we enjoyed collaboratinE Wlth other schools, taking our musicians to play at several senior school5.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2023
A group of pupi15 took part in an outreach afternoon with The Grange Park Opera and the Director of Music
from Sherborne School visited to run some singing workshops for pupils.
One hundred and forty-six pupils took music exams with the ABRSM, Trinity or RSL exam boards, ranging from
Grades 1-7. Seven pupils took Grade 6, and three pupils took Grade 7, gaining one pass, five merits and four
distinctions between them. 61YG of pupils were awarded a merit or distinction in their exams with an overall
average mark of 80% la merit).
We enjoyed various community projects including a 'Come and Sing, event for members of the wider
community. Our staff also visited four local primary schools (John Keble Primary School, Ampfield School,
Endeavour School King Site and Endeavour School Kirk Site) to run four two-hour singing workshops with
children from Years 3 to 6. Our Big Band (The Thundering Herd) performed at The Good Festival and Five Foot
Six lour Trad. Jazz bandl performed at variou5 local fetes.
In addition, the Recital Hall was used by Trinity ColleEe as a public examination centre, Kids on Track for
their holiday camps, and the Alpha Youth Day foundation.
In Art, all six of the Year 8 Scholars were awarded Art Scholarships, a very pleasing outcome. This led to a very
high-quality Scholars, and Talented Artists. Exhibition which was held in the summer term. Earlier in the year,
Gunning Arts Printers ran a very well received printing course focussed on etching and monoprints.
Throughout the Prep school, pupils were inspired by foot, mouth and memory artists, and all Years took part
in a competition in which the children created masterpieces using only their feet, mouth or from memory.
Years 3 to 5 also took part in a collaborative project, creating a mural of the coronation of King Charles 111,
it)spired by Monet's 'La Rue Montogrueil,, which will be hung outside the Art Department. This was another
very productive year for the Art Department.
Drama
This year pupils benefitted greatly from the refurbishment of the theatre. The new staging, lighting and
flooring have significantly enhanced drama and dance lessons and performances.
The stage's new extension allowed double the depth of performance space for Year 8's production of Sister
Act Junior so that all pupils were involved in the chorus numbers. For Year 6's production of Bugsy Malone the
theatre was transformed into an immersive 1920s Speakeasy. This showcased the advantages of the new
'black box, theatre design. Pupils performed both onstage and on the floor and the stage extensions created
a pit for the band. All pupils in Years 3 to 5 performed in drama Showcases.
Twenty-two Year 7 pupils and twenty-nine Year 6 pupils volunteered to take part in the Drama Ambassador
programme, participating in weekly enrichment drama workshops after school. Year 7 Drama Ambassadors
performed a non~musical play called 'Freel' and Year 6 Drama Ambassadors performed 'A Midsummer Night's
Dream, in the amphitheatre, linking with their study of the play in English. Drama Ambassadors in Years 6 to 8
also visited Chichester Festival Theatre twice. On their first visit, they watthed rehearsals for'The Famous Five=
A New Musical,, which gave them an insight into professional rehearsals. When they returned, they toured

FARLEIGH SCHOOL TRUST LIMITEO AND SUBSIDIARY
ANNUAL REPORT OFTHE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
backstage, questioned a range of staff about their jobs. watched the cast's vocal warm up ar*d enjoyed a
performance of the show. They a150 volunteered throughout the year to operate lighting, stage manage a
team or act as crew for various Farleigh productions.
The department's achievements included 100% success with scholarships and awards (eight in totall, 115
LAMDA Distinctions, 77 LAMDA Merits and l LAMDA Pa55. A total of 324 pupils performed in one or more
drama perfomiances in the theatre. Three pupils passed the first stage of auditions for the National Youth
Music Theatre and one was invited to workshop a new musical production with them over the summer
holidays.
Chapel
The Chapel is at the heart of School life for pupils, staff and visitors. On Sundays, Mass 15 celebrated for
boarders, residents and members of the public, and the Chapel is usually full. All collections are sent to the
Parish Church of St John the Baptist, Andover. The Mass continues to be livestreamed for the benefit of those
who are unable to attend in person.
Collective Worship, School Masses and daily Masses take place in the Chapel a5 well as other services. It is also
a place of quiet reflection and prayer throughout the week. In addition, First Holy Communion and
Confirmation Masses are celebrated in the School. The Rt Rev'd Philip Egan, Bishop of Portsmouth, visited
Farleigh in May to celebrate Confirmation.
Regulation of Fundraising
Fundraising is overseen and monitored by the Board of Governors. No complaints were received regarding
the function, nor were there any requests 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 during 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
The Governors held a strategy day in the summer at which they discussed future plans. To ensure the long-
term success of the School they determined to: continue to develop the curriculum, with particular regard to
extended thinking- ensure the Catholic identity of the School,. and further enhance the boarding provision.
The Governor5 also decided to continue investment in the School's infrastructure which has included an all-
weather pitch120151,
new music school120161, improved boarding facilities120171, improved IT facilities
and Pre-prep playground 120171, enhanced boys, sports changing rooms and catering facilities 120181,
expanded and refurbished dining room120191, three additional classrooms120211, refurbished Theatre and
girls, changing rooms120221 and a refurbished wing of the serbior boarding house120231. During the year the
School developed a Master Plan ft)r estate works which is now approaching fruition.

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 IULY2023
The School will continue to invest in IT assets in support of both learning and administration as well as
continuing to enhance the School's cyber security.
Future plans include the installation of many more solar PV panels and the possibility of refurbishing a further
wing of the senior boarding house.
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.
Principal Risks and Uncertainties
A review of the Charity's Risk Management process is undertaken by the Board at each of its routine meeting5.
The key controls used are..
Formal agendas for all Board and committee yneetings,.
Terms of reference for all committees,.
Comprehensive planning, budgeting and management accounting,.
Established organisational structures and lines of reporting,.
Formal written policies,.
Clear authorisation and approval levels,. and
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:
A change in public and/or government perspective and policy regarding independent schools leading
to a worsening of the School's financial position. The School has undertaken planning to mitigate the
risk inherent in adverse financial scenarios.
An allegation of abuse by a current pupil against a past or present member of staff. To mitigate this
risk child protection and safeguarding policies, procedures and training are given the very highest
consideration and effort.
Cyber-attack leading to the failure of IT systems and access to data. 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 managed securely and efficiently, and that Farleigh's pupils benefit from new technologies.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Recruitment of Governors
Governors are elected at a meeting 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 betweeri 8 and 12 members, of which at least a two thirds majority have been Roman
io

FARLEIGH SCHOOL TRUST LIMITEDAND SUBSIDIARY
ANNUAL REPORTOF THE GOVERNORS ON THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Catholics during the year. Governors seNe for periods of four years and after re-election can normally serve
up to a maximum term of 12 years lalthough this may be extended in certain circumstances agreed by the
Board to ensure consistency and continuity).
Governor Indurtion 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 provi5iofb of a comprehensive information pack. A visit to the School
soon after election and attendance on a course for new Governor5, run by the Association of Governing 8odies
in Independent Schoo15 IAGBISI, is arranEed. OnBoing training is made available for all Governors and is funded
by the School.
Key Management
The Governors consider that they, together with the Head, the Director of Finance & Operation5 and the senior
managers, comprise the key management 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
regular 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 determines 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 IIPCS) (April 20231.
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 sub-committee, meet at least termly, in advance
of the main meeting. The Public Benefit sub-committee meets twice per year, in the summer and autumn
terms. The day-to-day runrbing of the School is delegated to the Headmaster who is assisted 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 Schools IAGBISI, the Independent
Schools, Bursars Association IISBAI and the Catholic Independent Schools, Conference ICISCI.
Having routinely considered budgets, reserves, 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 the School has the ability to pay its debts not only for the next year, but for the
foreseeable future.
li

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
ANNUAL REPORT OF THE GOVERNORS ON THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2023
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
preparing the Directors, Report (including the Strategic Report) and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United 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,.
obseNe the methods and principles 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 awa￿ of any relevant audit information
and to establish that the auditors are aware of this information.
The Dirertors, and Strategic reports are approved bythe Board at its meeting on 16 November 2023 and signed
or) its behalf by..
Mrsj Vyvyan
Chair of Governors
12

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF FARLEIGH SCHOOL TRUST LIMITED AND
SUBSIDIARY
FOR THE YEAR ENDEL) 31 JULY 2023
Opinion
We have audited the consolidated financial statements of Farleigh School Trust Limited for the year ended 31
July 2023 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 accounting 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 Reportirbg Standard applicable in the UK and Republic of Ireland (United
Kin8dom Generally Accepted Accounting Practice).
In our opinion. the financial statements=
give a true and fair view of the state of the group's and of the parent charitable companws affairs as at 31
July 2023 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.
Basls 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 Auditorfs responsibilitie5 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 relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern 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.
13

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF FARLEIGH SCHOOL TRUST LIMITED AND
SUBSIDIARY (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Other informatlon
The trustees are responsible for the other information. The other information comprises 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 knowledge 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 conclyde 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 matter5 prescribed by the Companies Act 2(M)6
In our opinion, based orb 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, reportl 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 (which incorporates the strategic report and the directors, report).
We have nothing to report in respect of the following matter5 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 accour)ting 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.
14

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF FARLEIGH SCHOOL TRUST LIMITED AND
SUBSIDIARY ICONTINUEOI
FOR THE YEAR ENDED 31 JULY 2023
Responslbilities of trustees for the financial statements
As explained more fully in the trustees, responsibilities statement set out on page 12, the trustees (who are
also 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 tr(Jstees determine is 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 assessing the group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going
toncern and using the going concern basis 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.
Auditorfs responsibilities for the audit of the financi31 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 auditorfs 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 COLJld 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 regulations 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 by the enEaBement team included..
15

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF FARLEIGH SCHOOL TRUST LIMITED AND
SUBSIDIARY (CONTINUED)
FOR THEYEAR ENDED 31 JULY 2023
Auditorfs responsibilities for the audit of the financial statements (continued)
Inspecting Corresponden￿ 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 accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregLJlaritie5. including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation 15 removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgeryi Collusion, omission or misrepresentation.
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
auditorsres
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 body, for our audit
work, for this report, or for the opinions we have formed.
Lee Stokes (Senior Statutory Auditor)
For and on behalf of Haysmacintyre LLP, Statutory Auditors
Date: 20th November 2023
10 Queen Street Place
London
EC4R IAG
16

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING CONSOLIDATED INCOME & EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 JULY 2023
Unrestricted Restricted
Funds
Funds
2023
2023
Total
2023
Total
2022
Notes
INCOME FROM:
Donations and legacies
22,573
3,927
26,500
28,202
Income Charitable activities
School Operats'ng income
10,248,457
10,246,457 9,548,037
Income from other trading
activities
Trading income
470,686
470.686
323,977
Investment income
25,791
25,791
259
TOTAL INCOME
10,765,507
3,927
10,769,434 9,900,475
EXPENDITURE ON:
Costs of roising funds
Trading expenditure
Expenditure on oharitsble actlvltles
School operating costs
105,439
105,439
110,177
10,540,863
27,171
10,568,034 9,436,954
TOTAL EXPENDITURE
10,646,302
27,171
10,673,473 9,547, 131
NET INCOME AND NET
MOVEMENT IN FUNDS FOR THE
YEAR
119,205
123,2441
95,961
353,344
Reconciliation of funds..
Total funds brought forward
17
16,165,809
300.361
16,466,170 16,112,826
Total funds carried fopavard
17
16,285,014
277,117
16,562,131 16,466,170
Comparatives by ftjnd 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 20 10 42 form part of these financial statements.
17

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED AND PARENT COMPANY BALANCE SHEETS
COMPANY REGISTRATION NUMBER 00905522
FOR THE YEAR ENDED 31 JULY2023
Group
Company
Notes
2023
2022
2023
2022
FIXED ASSETS
Tangible assets
16,323,244 16,082,871
236,472
217.947
16,323,244 16,082,871
236.472
217,947
CURRENT ASSETS
Stock
Debtors
Cash at bank and in hand
10
221,396
408,895
1,882,573
218,922
409,690
2,053,128
221,396
7,576,608
1,882,573
218.922
6,644.065
2,053.128
2.512,864
2,681,740
9,680,577
8,916,115
LIABILITIES
Creditors falling due within one year
12
11,808,288) 11,702,156) 11,808,288) 11,702,156}
Net current assets
704,576
979,584
7,872,289
7,213,959
Total assets less CUTrent liabilities
17,027,820 17,062,455
8,108,761
7,431,906
CREDITORS: falllng due after more
than one year
13
1461,2861
1588,9201
1461,2861
1588,9201
Provision for Ilabllltles
14
{4,4031
(7.3651
14,403)
17,3651
NET ASSETS
16,562,131 16,466,170
7,643,072
6,835,621
FUNDS
Unrestricted funds
Restricted funds
17
17
16,285,014 16,165,809
277,117
300,361
7,365,955
277,117
6,535,260
300,361
TOTAL FUNDS
17
16,562,131 16,466,170
7,643,072
6,835,621
The net movement in funds for the Company during the year was £807,45112022= £906,478).
The Financial Statemerkts were approved by the board on
and signed on its behalf by:
16 November 2023
Mrsj
vyan
Chair of Governors
The notes on pages 20 to 42 form part of these financial statements.
18

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023
Total
2023
Total
2022
Notes
CASH PROVIDED BY IIUSED INI OPERATING
ACTIVITIES
21
603.496
738,722
Cash flows from investing activitsos..
Inte￿st income
Purchase of tangible fixed assets
Proceèds from disposal of tangible fixed assets
25,791
11,041,025)
105
259
1700,126}
8,750
CASH USED IN INVESTING ACTIVITIES
{1,015,1291
16g1,1171
CASH FLOWS FROM FINANCIING ACTIVITIES
Fees received in advance
241,078
287.082
CASH PROVIDED BY FINANCING ACTIVITIES
241,078
287,082
INCREASEIIDECREASEI IN CASH AND CASH
EQUIVALENTS IN THE YEAR
1170.5551
334,687
Cash and cash equivalents at the beginning of
the year
2,053,128
1,718,441
TOTAL CASH AND CASH EQUIVALENTS AT
THE END OF THE YEAR
1,882.573
2,053,128
CASH AND CASH EQUIVALENTS:
Cash at bank and in hand
1,882,573
2,053,128
1,882,573
2,053,128
The notes on pages 21 to 43 form part of these financial statements.
19

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TOTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
ACCOUNTING pouaES
The accounting policies adopted by the company are as follows..
Basi5 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 (Charities SORP IFRS1021 Second
Edition,. effective 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 financial 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 golng concern basis
Having considered future risks, which are articulated in the Principal Risk Register, and reviewed future
budgets and cash flow forecasts, it is not considered that there are any material uncertainties that would
prevent the group tontinuing to operate as a going concern in the foreseeable future. The financial statements
have therefore been prepared on a going concern basis.
Intome
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, whi15t 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. Fees receivable are stated after deductin8 allowances, scholarships and other remissions
granted by the School, but include contributions received from Restricted Funds for Scholarships, Bursaries
and other grants. 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.
20

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
ACCOUNTING POLICIES (CONTINUED)
Investment income
Interest receivable on sums invested in b3nk deposit accounts is recorded gross. The company is not liable
to tax on this income.
Expenditure
Expenditure is recogni5ed 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 amoLJnt 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 categorie5 as to reasonably enable the user to gain an appreciation of
the compan¢s expenditure during the year. Central staff costs and some overhead expenses 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 complying with constitutional and statutory
requirement5.
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable activities. Support costs include ofFice, finance, personnel, payroll at)d governance costs which
support the chariws 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 SL¢PPOrt
staff. The Pensions Trusvs Growth Plan was the original scheme and still has active members.
Contributions paid into this Plan up to and irbcluding 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 asset5 and liabilitie5 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.
21

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 JULY 2023
ACCOUNTING POLICIE5 ICONTINUED)
Tangible Fixed Assets and Depreciation
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
impairment10sses. A lower limit of £1,000 is applied to individual items that are capitalised.
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
no depreciation
2.5% - IOYO Straight line
20Yo Straight line
25% Reducing balance
33% Straight line
Computer equipment
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 charged until the asset comes into full use.
Deemed cost of fixed assets
Specific fixed assets have been revalued to deemed cost as allowed upon transition to FRS 102 based
on assumptions made by an independent property consultant. The trustees are satlsfied that the
assumptions made are appropriate.
Leased a55ets
The charity classifies the lease of IT equipment, printers and the minibuse5 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.
Flnancial 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.
22

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
ACCOUNTING POLICIES (CONTINUED)
Borrowing costs
Borrowing 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 borrowing 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 provislons
Creditors and provisions are recognised where the charity has a present obligation resultinE from
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.
Crltical accounting estim*es and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factor5, 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 assumptions 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 estimate5 are
reasonable. There are considered to be rbo 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 a5 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.
23

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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 Accounting
The nature and purpose of each fund is described in note 17.
Unrestrirted funds are defined as income realised or generated forthe objectives of the group without
further specified purpose and which are available as Eeneral f(Jnds.
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 as 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 liability in respect of the guarantee is limited to £1 per member.
INCOME FROM DONATIONS AND LEGACIES
2023
2022
Gifts
26,500
28.202
The income from donations and legacies is made up of unrestricted £22,573 12022: £6,564) and
restricted £3,92712022.' £21,638). The restricted income is made up of £3,927 in respect of the St
Theresa Fund, see note 17.
SCHOOL OPERATING INCOME
2023
2022
Fees
Gross fees
Less.. Total Scholarships, bursaries and allowances
Recharged extras
10,175,318
(519,6081
590,747
9.526,553
1517,3531
538,837
10,246,457
9,548,037
24

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
TRADING AND ANCILLARY INCOME
2023
2022
Holiday activities
Clothing shop
Swimming pool
Disbursements and miscellaneous
50,643
77,588
79,182
263,273
33,222
92,576
78,558
119,621
470,686
323,977
EXPENDITURE
2023
2022
Trading expenditure
Cost of goods Sold
Clothing shop and swimming pool salaries
Bank charges
Advance fee finance costs
49,759
44,287
4,197
7,196
59,577
40,420
4,384
5,796
105,439
110,177
School operating costs
Teaching salaries and related costs
Administrative 51aff salaries and related costs
Office costs and supplies
Extras, Disbursements and Trips
Property and grounds
School expenses
Marketing, recruitment and advertising
Scholarships and prizes
Legal and professional fees
Provision for doubttul debts
Depreciation and disposal of fixed assets
Farleigh Society- (Note 171
Gener81 expenses
Governance costs (see below)
4,910,482
1,916,948
214,397
716,515
1,049,022
693,627
83,050
11,788
62,220
110,0001
800,548
18,013
76,768
24,656
4.519,255
1,736,473
214,185
526,593
994,939
586,894
77,878
5,735
29,900
782
643,523
80,052
20,745
10,568,034
9,436,954
25

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
EXPENDITURE Icontinuedl
Govemance costs (including in school operatlng costs above)
2023
2022
Auditor's remuneration
Govemors, training and expenses
22,830
1,826
20,640
105
24,656
20,745
SALARIES AND RELATED COSTS
Included within school operating costs are the following..
WAGES AND SALARIES
2023
2022
Salaries and wages
Employers. Nl
Pension contributions- defined benefits
Pension contributions- defined contribution
5,156,014
505,596
577,944
148,370
4,765,859
465,571
600,229
107,052
6,387,924
5,938,711
The average number of staff are..
2023
2022
Full time
Part time
Full time
Part time
Academic
Administration and support
In class support
65
35
25
46
14
62
35
10
25
49
14
109
85
107
88
The number of employees earning over £60,000 was as follows:
2023
2022
Between £60,001 and £70,000
Between £90,001 and £100,000
Between £100,001 and £110,000
Betwèen £140,001 and £150,000
Between £150,001 and £160,000
In addition, pension contribution5 totalling £37,66712022'. £55,926) were made in respect of the above
employees earning over £60,000.
26

FARLEIGH SCHOOL TRUST LIMITED AND SUB51DIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31JULY 2023
SALARIES AND RELATED COSTS {continued)
The key management of the Group and Charity are the Governors and senior management team
comprisifiE of the Headmaster, Director of Finance and Operations, Deputy Head of Academic, Deputy
Head of Organisation and Pastoral oversight. and Head of Pre-Prep. The remuneration includinE benefits
of key management personnel for the group was £560,47812022.' £470,156, no one in post of Deputy
Head of Organisation and Pastoral oversight).
There were no payments to the Governors during the year. During the year 2 governors had children at
the school12022.' 21 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 Farleigh School pay-scale. S
Henderson is a governor of the School. The School has paid for Trustee Indemnity Insurance for the year,
the insurance premium is £1,99312022.' £1,7641.
There were termination payments of £17,855 made to staff during the year12022= £14,146).
PENSION AND SIMILAR OBLIGATIONS
Teachers, Pension Scheme
The School participates in the Teachers. Pension Stheme I'the TPS'I for some of its teaching staff. The
pension charge for the year includes contributions payable to the TPS of £555,23112022: £575,946) and
at the year end £65,81812022= £66,381) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-ernployer defined benefits pension scheme governed by The Teachers,
Pensions Regulations 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 las
amended). Members 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 Actuarfs 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 16.4% to 23.6% from I September 2019.
Employers are also required to pay a scheme administration letry of 0.08Yts giving a total employer
contribution rate of 23.68%.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme
regulations and under the 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/Sargeant case,. This case has required the courts to consider cases regarding the
implementation of the 2015 reforms to Public Service Pensions including the Teachers, Pensions.
27

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
SALARIES AND RELATED COSTS {continued)
PENSION AND SIMILAR OBLIGATIONS (continued}
Teachers. Pension Scheme Icontinuedl
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal's
judgment that transltional provisions introduced to the reformed pension schemes in 2015 gave rise to
unlawful age discrimination. The government is respecting the Court's decision 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. The government announced on 4 February 2021 that it intends to
proceed with a deferred choice underpin under which members will be able to choose either legacy or
reformed scheme benefrts in respect of their service during the period between l April 2015 and 31
March 2022 at the point they become payable.
The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen
change5 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 2019 announced a pause to the cost cap mechanism
followin8 the Court of Appeal's ruling in the McCloud/Sargeant case and until there is certainty about the
value of pensions to employees from April 2015 onward5. The pause was lifted in July 2020. and a
consultation was launched on 24 June on proposed change5 to the cost control mechanism following
review by the Government Actuary. Following a public consultation, the Government have accepted three
key proposals recommended by the Government Actuary, and are aiming to implement these changes in
time for the 2020 valuations.
The 2016 cost control valuations have since been completed in January 2022, and the results indicated
that there would be no changes to benefits or member contributions required. The results of the cost cap
valuation are not ysed to set the employer contribution rate, and HM Treasury has confirmed that any
changes to the employer contribution rate resulting from the 2020 valuations will take effect in April
2024.
Until the 2020 valuation is 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 School implemented phased withdrawal from the TPS with effect from l April 2022 and since that
date the school has only offered the Aviva Pension Trust for Independent Schools to teachers joining
Farleigh School.
28

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
SALARIES AND RELATED COSTS (continued)
PENSION AND SIMILAR OBLIGATIONS (continued)
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 chanEes to their pensions.
SubseqLtent to consultation an alternative, defined contribution pension scheme, the Aviva Pension Trust
for Independent Schools IAPTISI, was introduced for teachers on I" January 2022. Teachers were given
the option to either stay in TPS and accept a reduction in gross salary or join the new APTIS scheme.
In the year ended 31 July 2023 the pension cost charge for this scheme amounted to £107,02812022'.
£61,484). At the year end there was a creditor of £Nil12022'. £9,889).
The Pensions Trust Growth Plan
The company participates in the scheme, a multi-employer scheme which provides benefits to some
638 non-as50ciated participating employers. The scheme is 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
defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2CX)4 which came into force
on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical
Actuarial 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 reqLtired 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
Trustee has asked the participating employers to pay additional contributions to the scheme as follows=
Deficit contributions
From l April 2022 to 31 january 2025..
£3,312,000 per annurn
(payable monthly)
Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.
29

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
SALARIES AND RELATED COSTS {continued)
PENSION AND SIMILAR OBLIGATIONS {continuedl
The Pensions Trust Grourth Plan {continued)
Note that the scheme's previous valuation was carried out with an effective date of 30 September 2017.
This valuation showed assets of £794.9m, liobilities of £926.4m and a deficit of £131.5m. To eliminate this
funding shortfall, the Trustee asked the participating employers to pay additional contributions to the
scheme as follows-.
Deficit contributions
From l April 2022 to 30 September
2025..
£11,243,000 per annum
(payable monthly and increasing by 3% each on 1st April)
The recovery 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 fundinB 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 unwinding of the discount rate is
recognised a5 a finance cost.
The net present value of the provision has been calculated by the Pensions Trust for the company as
follows=
20231£,000)
20221£,000)
2021 {£,0001
42
Net present value
Discount rate
5.98%
3.15%
0.57%
Under FR5102 this has been included as a provision for liability in the accounts.
In the year ended 31 July 2023 the pension cost charge for support staff included in The Pensions Trust's
Growth Plan amounted to £3,45312022= £24,283) and deficit contributions of £6,51012022= £9,804). 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 2023 the pension cost charge amounted to £41,34312022'. £42,613). At the year end there
was a creditor of £9,57512022- £10,409).
30

FARLEIGH SCHOOL TRUST LIMITED AND SUB51DIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
FIXED ASSErs
Group
Land, Freehold
Premises and
Improvements
Fumiture
and
Equipm8nt
Motor
Vehicles
Computer
Equipment
Total
CosVDeerned cost
Al 1 August 2022
22,029,163
905,650
11.994
444,670
23,391,477
Additions
931,731
72,049
37,245
1,041,025
Disposals
1295,5701 1181,0741
{181,4021
1658,046)
At 31 July 2023
22.665,324
796,625
11,994
300,513
23.774.456
Depreciation
At 1 August 2022
6,164,239
734.911
9,605
399,851
7,308,606
Charge for year
711.490
59.231
597
30,939
802,257
Di5P05als
1297,179} {181,0721
1181,4001
{659,6511
At 31 July 2023
6,578,550
613,070
10,202
249,390
7,451,212
Net book valug
At 31 July 2023
16,086.774
183,555
1.792
51,123
16,323,244
Al 1 August 2022
15,864,924
170,739
2.389
44,819
16,082,871
31

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
FIXED ASSETS (continued)
Parent company
Furniture
and
Equipment
Motor
Vehicles
Computer
Equlpment
Totsl
CosUDeemed cost
Al 1 August 2022
905,650
11,994
444,670
1,362,314
Additions
72,049
37,245
109,294
Disposals
18,5001
1181,4021
1189.9021
At 31 July 2023
969, 199
11,994
300,513
1,281,706
Depreciation
At 1 August 2022
734,911
9.605
399,851
1,144,367
Charge for year
59,231
597
30,939
90,767
Disposal$
18,5001
1181,4001
1189,9001
At 31 July 2023
785,642
10,202
249,390
1,045,234
Net book value
At 31 July 2023
183,557
1,792
51,123
236,472
At 1 August 2022
170,739
2,389
44,819
217,947
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 purpose5 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 £8.919,05912022'. £9,630,549) 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 2023
INVESTMENTS (continued)
The statement of financial activities for the year is as follows..
2023
2022
Total Income
Total Expenditure
Net movement in funds for the year
1711,4901
1711,4901
1553,1341
1553,1341
Total funds carried forward
8,919,059
9,630,549
10. STOCK
Group
2023
Group
2022
Company
2023
Company
2022
stotk
221,396
218.922
221,396
218,922
11. DEBTORS
Group
2023
Group
2022
Company
2023
Company
2022
Fees and disbursements
Summer term disbursements
Other debtors
Amounts owed by group entities
Prepayment and accrued income
47,715
184,119
5,746
26,261
175,256
46,067
47,715
184,119
5,746
7,167,713
171,315
26,261
175,256
46,067
6,234,375
162,106
171,315
162,106
408,895
409,690
7,576,608
6,644,065
The amounts owed by group entitie5 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 2023
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2023
Group
2022
Company
2023
Company
2022
Fee deposits held
Trade creditors
Fees received in advance
Fees in advance scheme (see note 151
Holiday pay accrual
Other creditors and accruals
Pension creditor
Tax and social security
44,492
421,054
147,342
204,234
429,608
352,658
77,204
131,696
30,500
515,678
140,208
279,975
378,281
142,947
88,189
126,378
44,492
421,054
147,342
204.234
429,608
352,658
77,204
131,696
30,500
515,678
140,208
279,975
378,281
142,947
88,189
126,378
1,808,288
1,702,156
1,808,288
1,702,156
13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group and
Companv
2023
Group and
Company
2022
Fees received in advance scheme (see note 151
Fee deposits held
277,858
183,428
375,500
213,420
461,286
588,920
14. PENSION PROVISION
Group and
Companv
2023
Group and
Company
2022
Opening balance
Movement in provision Inote 71
7,365
12,9621
41,655
134,2901
4,403
7.365
34

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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 tonditions on the receipt of one term's notice. Assuming pupils will remain
in the school, advance fees will be applied a5 follows=
2023
2022
Within one year
204,234
279,975
Within one to two years
Within two to five years
Greater than 5 years
130,441
113,323
34,094
174,404
133,644
67,452
482,092
655,475
16. COMMITMENTS UNDER OPERATING LEASES
At 31 July 2023 the charity had aggregate annual commitments under non-cancellable operating
leases for hire of plant, machinery and equipment as set out below..
Group and
Company
2023
Group and
Company
2022
Amounts due..
Within one year
Between one and two years
76,243
110,184
82,020
96,554
186,427
178,574
35

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
17. ACCUMULATED FUNDS
Transfer
Between
Fund5
At l August
2022
At 31 July
2023
Intome
Expenditure
Group
Unrestricted fund
16,165,809
10,765,507
110,646,302)
16,285,014
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
8,921
1,996
18,013
9,568
259,950
1,913
8,571
1,996
13501
118,0131
18,8081
760
263,877
3,927
Total restricted funds
300,361
3,927
127,1711
277,117
Total Funds
16,466,170
10,769,434
110.673,4731
16,562,131
Unrestricted fund includes a revaluation reseNe 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.
The Callaghan Fund represents monies received to provide awards to students at the end of the
academic year.
The Rugby Fund represents monies received from an individual to provide opportunities to student5 to
attend rugby trips abroad.
The Farleigh Society Fund represents funds paid to the Farleigh Society for former pupils. The society
keeps the sthool connected to its former pupils and holds regular reunion events, this enables the
school to continue to see their former pupils develop. During the year, The Farleigh Society Fund was
transferred back to the society.
The Dodd Fund supports SEN provision within the School and the purchase of equipment for children
with disabilities.
The St Theresa Fund (formerly 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.
36

FARLEIGH SCHOOL TRUST LIMITED AND SUB51DIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
17. ACCUMULATED FUNDS (continued)
Transfer
Between
Funds
At l August
2022
At 31 July
2023
Income
Expenditure
Company
Unrestricted fund
6,535,260
10,765,507
19,934,812)
7,365,955
Restricted funds
B Harrison Fund
CallaEhan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
8,921
1,996
18,013
9,568
259,950
1,913
8,571
1,996
13501
118,0131
18,8081
760
263,877
3,927
Total restricted funds
300,361
3,927
127,1711
277,117
Total Funds
6,835,621
10,769,434
19,961,983)
7,643,072
37

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
17. ACCUMULATED FUND5 (continued)
Comparative Figures
Transfer
Between
Funds
At l August
2021
At 31 July
2022
Income
Expenditure
Group
Unrestricted fund
15,834,103
9,878,837
19,547,131)
16,165,809
Restricted funds
B Harrison Fund
Callaghan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
8,921
1,996
18,013
9,568
238,312
1,913
8,921
1,996
18,013
9,568
259,950
21,638
Total restricted funds
278,723
21,638
300,361
Total Funds
16,112.826
9,900,475
19,547,131)
16,466,170
Transfer
Between
Funds
At l August
2021
At 31 July
2022
Income
Expenditure
Company
Unrestrirted fund
5,650,420
9,878,837
18,993,997)
6,535,260
Restrlcted funds
B Harrison Fund
Collaghan Fund
Rugby Fund
Farleigh Society Fund
Dodd Fund
St Theresa Fund
1,913
8,921
1,996
18,013
9,568
238,312
1,913
8,921
1,996
18,013
9,568
259,950
21.638
Total restricted funds
278,723
21.638
300,361
Total Funds
5,929,143
9,900,475
18,993,9971
6,835,621
38

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TOTHE FINANaAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
18. ANALYSIS OF NET ASSEfs BEfwEEN FUNDS
2023
Group
Unrestricted
Funds
Restricted
Funds
2023
Totsl
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
16,323.244
2,235,747
11,808,288)
1465,6891
16,323.244
2,512,864
{1,808,2881
1465,6891
277,117
Total nel assets
16,285,014
277,117
16,562.131
Company
Unrestrlcted
Funds
Restrlcted
Funds
2023
Totsl
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
236,472
9,403,460
{1,808,2881
1465,6891
236.472
9,680,577
11.808,2881
1465,6891
277,117
Total net assets
7,365,955
277,117
7,643,072
39

FARLEIGH SCHOOL TRUST LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2023
18. ANALYSIS OF NET ASSETS BEnVEEN FUNDS {Continuedl
2022
Group
Unrestricted
Funds
Restricted
Fund5
2022
Total
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
16,082,871
2,381,379
11,702.1561
1596,2851
16,082,871
2,681,740
11,702,156)
{596,285}
300,361
Total net assets
16,165,809
300,361
16,466,170
Company
Unrestricted
Funds
Restricted
Funds
2022
Total
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
217,947
8,615,754
11,702, 1561
1596,2851
217,947
8.916,115
{1,702,1561
1596,2851
300,361
Total net assets
6,535,260
300,361
6,835,621
19. CAPITAL COMMITMENTS
Capital expenditure of £ 668,12612022-. £407,152) had been authorised by the Governors and was
committed to at the balance sheet date.
20. RELATED PARTY TRANSAcfioNS
During the year no donations were received from Governors12022.. £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 governor of the School.
40

FARLEIGH SCHOOL TRUST LIMITEDAND SUBSIDIARY
NOTES TOTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
21. RECONCILIATION OF NET MOVEMENT IN FUNDSTO NET CASH FLOW FROM OPERATING A￿1VITIEs
Group
2023
Group
2022
Net movement in funds
Deposit interest receivable
Finance cost on advanced fees
95,961
125,7911
7,196
353,344
12591
5,796
Operating surplus
Depreciation of tangible assets
Ilncreasel in stocks
Decreaselllncreasel in debtors
Increaselldecreasel in creditors
Advanced fees drawdown
77,366
802,257
12,4741
795
358,881
652,273
167,5181
150,7381
260,417
1371,5531
18,7501
134,2901
151,881
1421,6571
11,7101
12,9621
Loss on sale of fixed assets
Movement in provisions for liabilities
603,496
738,722
22. ANALYSIS OF CHANGES IN NET DEBT
Atl
August Cash flows
2022
£'o
Other
non-cash
changes
£'ooo
At31
July
2023
£'ooo
Fair value
movements
£'ooo
£'ooo
Cash and cash equivalents
Cash
2,053,128
1170,5551
1,882.573
Total
2,053,128
1170,555)
1.882.573
41

FARLEIGH SCHOOL TRu>f LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
23. PRIOR YEAR COMPARATIVES BY FUND
Unrestrlcted Restricted
Funds
Funds
2022
2022
Total
2022
Notes
INCOME FROM:
Donations and legacles
6,564
21.638
28,202
Income Charitable actiViTties
School Operating income
9,548,037
9.548,037
Income from other tr8dlng
activities
Trading income
323,977
323,977
Investment income
259
259
Income from government grants
TOTAL INCOME
9,878,837
21,638 9,900,475
EXPENDITURE ON..
Costs of raising funds
Trading expenditure
Expenditure on charitablg activities
School operating costs
110,177
110,177
9,436,954
9,436,954
TOTAL EXPENDITURE
9,547,131
9,547,131
NET INCOME AND NET
MOVEMENT IN FUNDS FOR THE
YEAR
331.706
21,638
353,344
Reconcili8tlon of funds..
Total fLJnds brought forward
17
15,834,103
278,723 16,112,826
Total funds carrled forward
17
16,165,809
300,361 16,466,170
42