ORLEY FARM SCHOOL TRUST
(A R•gistered Charlty and a Conwny Llmlted by Guarantee)
Registered Company No: 628541
Registered Charity No: 312637
ANNUAL REPORT OF THE GOVERNORS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2020
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ORLEY FARM SCHOOL TRUST
CONTENTS
Pago
Charity Infomiation
Annual Roport of tho Gowmors
3-12
Independent Auditofs Report
13-14
Statement of Financlal Activllies
16
Balance Sheet
17
Cash Flow Staten*nt
18
Accounling Pollcies
19-21
Notes to the Flnancial Statements
22-28

ORLEY FARM SCHOOL TRUST
CHARITY INFORMATION
Governors
The Govemors a￿ memtEr5 of the Govemir#J Bc#Jy. are the Charity Trustees and are the Directors of thg
Company for Companies Act purwses. The GoVer￿ts who have seThed during the year and since thg
year end are irxjicated below. Alor*Jside eath ¢￿vernor are details of the sutcommittee5 on which they
Mr C J Hayfield
Dr M Short
Mr M Andrews
Mr5 Carol Cliffe
Mrs P Jackson
Mrs S Kothari
MrA Land
Mrs L Malde
Mr D Navapurkar
Mr R Raithatha
MrA Sfflith
MrA Sofat
Chairnan
Deputy Chaimwn
Reti￿ 31st August 2020
Officers
Headmaster
MrT G Calvey
Secretsry
Mrs T K Vaid
Director of Finan
MtsTKVah
Director of Operaknons aThJ Clefk Mr J ShakeS￿le
App)inted 15th Jur¢ 2020
Principal Address
and Reglstered Office
South Hill Aver
Harrow-on4hthill
Middlesex
HA1 3NU
Advisors
Bankers
Nalwesi
1-9 StAnn's Ro*J
Harr(Iw
Mithjlesex HA1 1EB
Solicitors
Harvison Clark Rickety Limtted
Elenborough House
welli￿on Street
Cheltenham GL50 1YD
Auditors
PKF Littleiohn LLP
ststutory Auditors
15 Westferry Cirryjs
Canary Wharf
London E14 4HD
Insurnnce Broke
Marsh Education PraCt￿e
Capllal House
1-5 PeryrTKiunt Road
Haywards Heath
West s￿8$eX RH16 3SY

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
The Governors present their Annual Re￿rt for the year ended 31 August 2020 together with the audited
Financial Statements forthe year, arml confim) that the lattercomply with the requirements ofthe Companies
Act 2006. the GovemirvJ Instruments of the Charity and the Ststemenl of Recommended Practice,
Accounts'ng and Reporting by Chanties I"FRS 102 SORP'I.
Reference and Administrative InfMnati¢)n
Orfey Fami School Tr￿1 {Ihe Trust) is a company limrted by guarantee registered as company number
628541. The Trust is also registered with the Chanty Commission under charity number 312637. The
Govemors, executive oifKers and principaj aydress of the Chanty a￿ listed. along with particulars of its
professional advisors, on page 2.
Structure. Govemance and ManageThnt
Goveming Instruments
The Charity is governed by ils Memorandum and Articles of As50ciats"on. which date from 1959 and were
substantially rewsed in 21KJ4. In June 2007 the Charity Commission permitted an extension to the objects.
In the furtherance of these objects the Directors. as the Trustees of the Charrty. have complied with the duty
in s.1715) of the Chafiknes Act 2011 to have due regard to the Chanty Commission's published general and
relevant sub-sector guidance conceming the interpretstion of the Public Be￿fit requirement under that Act.
Governing Body
The Board, detailed on page 2. is a setf-apwinting iM)dy with ore exception being the Headmasterof Harrow
School who is a member by virtue of Ihis position. Service on the Boanl is for 8 tem of three years whith
may b8 renewed no more than tsvice on retiremenL The Chairnan 15 e￿ted to serve for five years which
may be renewed only. Due to exceptional circumstan￿. the 8oard has awoved lo extend the current
Chaimian's tenure.
TYu$t•e R¢cruitm•nt and Trainlng
The Charity's elected Governors are apwinted at Board ffeetr.ngs ¢)n the basis of nominations received from
members of the Board atMI others. based on specrfication5 concerning syrnpathy with the Charity's objects,
eligibility. personal competencies. speoalisl skills and l¢Jcal availabilty. New Govemors receive induction in
respect of Bo8rrl Policies and Prccedures in addilion to familFarisalbon with current Slrategic and Financial
Planning. Following their appointment GoverrK)rs are M￿le aware of specialist training oPFQrtunit￿S by the
cle￿ as appropriate. Govemors receNe ongoing trainiThJ, suth as safeguardirKJ and many under tske their
own ¢ontinwus professKJnal development in their Spec￿11$1 areas.
Organisational Management
Odey Fam Schcol Trust Govemoffs. as Ihe Trustees of the Charity. are legalty ￿spOnsIble for the overall
g0Veman￿ aThJ Contr￿ of the School. To dis¢harge this duty they meet as a full Board at least three times
each year. The work of implements.ng most of their policies is carried out by tsvo committees which have
agreed. and annually rewsed, Terms of RefererKe to assist their fu￿tiOnal￿y. T￿se committees are as
follows.. Finance and General PurrM)se Committee and EducatKJn Committee. Further sutxornmittees may
be conslituted as required.
The operational management of the S¢hool is delegated to the Headmaster. togelher with the Director
of Finance an(J Directorof Operalions is supp)rted by a Senior Leadership Team and a Senior Managemer)t
Team. The Headmaster and Director of Owrations atteThl meetings of all of the ab)ve committees. The
Direclor of Finance attermjs the FInar￿ Committee and the Board Meetings. The Deputy Heads attend
Educati￿ Committee 8nd Board MeetirvJs.

ORLEY FARM SCHO¢￿ TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Oryanisational Management (continued)
The School, through its offThr5, is represented in a numb8r of (Yganisation5 including the A550¢iation of
Goveming Bodies of I￿ependent Schools, the IrKlepgTrJent Association of Preparatory Schools and the
Independent Schools Bursars. Associat¥)n.
Group Structure and Relationships
The Charity has iwo wholly-owned Tr)Trchariiable CoMpar￿es, whose activit* a￿ explained
below.
South Hill Estaies. Harrow Llmlted (Registered in Engla￿1 as Company Number 109974)
South Hill Eststes Harrow Ltd was irwFWated in 1910 arKI 1$ l¥iMted by shares. The Trust is the beneficial
owner of the W￿le of the share caFMtal of Company which owns roads on the Soulh Hill Estate, and the
benefit of certain covenants relating to PriWdtety•O%￿￿d residential a￿1 other properties on this Estate. The
Directors include the Trust's Chaim)an and member of the Trust's Board's Finance and General PurFrfJse
Committee. the Director of Operation and hvo residents of South Hill Estales. The Company s assets and
transactions in the year are mt considered material. therefore the Govemor5 consider it is not appropriate
to prepare consolidated accounts of the Trust and its subsidiary. Copies of the subsidiary's aecounts are
made available to the Govemors of the TrusL
Orfey Fami School Enterprlses Llmlled (Registered in ErolaTrJ as Company Numbgr 5345071)
The Company vms made dorniant on la September 21Y)7 aTrJ will remain dormant until such a time as the
level of irdding activity within the Trust necessitates its management by a subsidiary company or when the
Trustees elecl that this be so.
Risk Manag¢ment
The Board of Govemors is reskxjnsible for identifying the key risks faced by the School arml for ensuring
these risks are managed. Each year Ihe Senior Leadership Team and the Finance arKI Generydl Purwse
Committee idenlify and assess risks and implement controls to mitigate against these. In addition. each
year a fomial rewew of the risk manwent process is undertaken. The major risks have been idenirfied
as that of the recent impact of Coronawrus Pandemic on the provision of education servi¢e$ and health and
safety ofthe entire Scho￿ communty. a decline in the demand for places results'ThJ from a general econom
downtum which has been exacerbated by th& Coronavirus Pandemic, the risk that senior schools will
irKreasingly tske tr￿Ys at age 11 rather than 13 years old. the risk that academieslfree scfK)ols will take
children whose parents mighl have previously sent them to Orw Farm School aThJ that the CA)sts of the
School's development plan escalate out of contrd.
The key Controls implemented ty the S¢hcd a￿ as folkwts".
Fornal agendas for all Board arKI Committee activtbes:
Detailed and regularty review￿d Temis of Reference for all ¢ommitlees.'
Strategic planning. ixjdgeling and management accounting..
Established orgar￿SatiOnal Str￿lUre a￿1 urKlerslo¢d li￿S of reFM)rtirNJ;
Formal written ￿￿￿les.
Clear, authoritative and 4reed apwovd levels:
The appointment of sultal￿Y qualified professional thsers.. and
SU￿SSful impknientstion of remote leamirrfj durir¥J the SummerTemi. aThJ continuous use ofthis
where Coronavirus cases have been identif￿d,. and
Ability to switch ow educational delivery into ￿mote leaming in the event of any futher I(￿&dOWn
Through the estsblished systems for managing risk, the &)vemors are Satisf￿ that for the major risks
identified steps have been tsken to manage these risks. It is, of course, re￿nised by the Governors thal
systems can provide Tea50nable but not absolute aSsUrar￿e that major risks have been adequately
managed.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Objects. Aims. Objectives and Activitses
Charitable Objects
To advance the ed￿alKIn of trxjys and girls by the prowsion of a school known as Ortey Fann School Trust
in Harrow-on-the-Hill, and any other t*)ardirvJ sclKX)l or day school for the education of Lws and girfs an(1
by ancillary or ir￿idental educational activities and other a550ciated a￿[vItIeS for the benefit of th8
community.
Aims and Intended Impact
Within these obp(ts. the SclKM)l ams to be a le8dir*J 0)-ed￿atI0naI weparatory school for children aged
betsveen 4 and 13 years old. by buikjing on the strateg￿S as stated in the 'Whole School Aims. which are
summarised below. the full lexl being published in the School's prospectus and other media.
Whole School Alms
The School aims to kvovide a challengiNJ enwronment to stimulate, maintain a￿1 develop ? lively and
enquiring mind: to e￿oUrage all pupils to reach their true wtential armj evenlually become independent
leamers who Val￿ ￿arnI1V￿ with and from Ot￿rS. as a life-loThJ prctess.
We aim to appoint, develop and retain a staff of the hvJhest qualrty arml to develop a schcd community of
responsible citizens. whth affords equal walue Io 811 of its mern￿rs. is seen to be just and encourages
mutual ￿specI. twthfulness and ¢on¢em for oltrws.
While caryiro out ourcharilable purpose- the FYovision of education-we aim to deliver substantial benefit
to all stakehdders, Inc1￿1rvj our IcKal communitie5, through the provision of an excellent and broad
education and through a￿esS to our seNices. facilities arxl expertise.
Impact and Responsiveness
In accordance with our Goveming Instruments. we ￿ntinue to provide education for children aged 4 to 13
years - such provi￿0￿ relieving the 51ate of relevant costs. In addition. the School continues to provide
bursary support for Cu￿nt and new wpils. The Schcd continues to L￿11d on the links with a WKle seclion
of the Icral communty.
Key Elements of the School's Strategy
In the 21st Century, the School faces nv*V a￿1 evofving educational. legisLgtive, economic. environmental.
demographic and social challerrfJes. "To resrM)nd to thern positsvely arKI lo enable Orfey Fam School lo
head towards its 2001h annNersary with cOnfKIen￿ Ihere must equal￿ careful planning. These Strategic
Prioiitres and the Schod Devek)pment Plan are de5igr*d to set the destination and the broad ouuine of the
ioumey. The Board of Govemor5 and Senh?r Le*Jernhip T&8m intend that Orfey Fam School..
. continues to be one of the leadir¥J co-educational day sctrK)ols in London..
• will promde quality education and pastordl care for toys aThJ girts in the 4-13 years age range..
• will remain a preparatory sch￿1 a strorvJ recaxd of swxess in preparir¥J pupils for enty to their
senior iThJependent schools.,
• continue to be trAe5sed wilh a magnificent sile and maintain an excellent range of facilities.. and
• build on its lorg and distirNJuished his￿.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Key Elements of the School's Strategy {conlinued)
The Board of Govemors ¢ontinues to oversee the pursuit of the Scho)fs strategic priorities and the
maIntena￿e of its agreed profile. These are reVIev￿ regularly th1O￿h th8 VAxk of the Board and its
Committees. The Govenm irteTrJ thal the SCIM>￿ will:
Remain a preparatory schcx)I providirvJ qualty educalion and pastoral care for ￿yS and girfs:
Continue to recruit on the basis of academic potential al￿ and the School will continue to
develop its bursary funds to give tn￿ effect to this aim..
Continue to prepare boys and girfs for entry to indepeTrJent senior schools - with the alm that
boys. and increasingly girts. wll transfer at 13+: cunently most girfs transfer at 11 +;
Conts'nue to plan v￿h the aid of prDfe55ional advis(Ys, the furtt*r development of the estste in
order to FKovide eX￿Ment buildirKJs and facilities that SUPFQrt an oulslanding educalional
provision;
Devek)p and enact an ICT Strategy. a Communicalions Strategy and an Outdoor Education
Strategy: and
Deveknp a Leadership and Develo￿nent Progranyne for staff.
The Governors measure the success ofthis strategy through a comprehensive review ofth8 annual strategi
school development management action plans. arKJ through the termly reportiThJ of key performance
measures prTrJuced by senior management forts 808rd to discuss. Ad ho¢ subcommittees are established
to locus cross-govemarxelmanwent effort on area5 of interes( opw)rtunity and concem.
Objecfjves for the Year
The objectives for 2019r2020 were:
Maintain Ihe ex￿lIBl￿e of the educatiorwl provisiw through)Lrt the school;
To continue to review and improve the extra ¢urri¢ula pr(yJramme known as the "Edge
Programme":
To review future phases of the Refurbi%hment Plan"
To review future phases of the Sthool'$ Master PLqn;
To cary on relations wth the Grdnge School in Harrow:
To continue the review of our procedures and ￿1cleS to ensure total reguLgtory compliance,.
To continue to improve the Fomer Pupils. Association ffhe Orteyansl:
To ensure the prowsion of IT within the School ￿ntInUeS to meet the academic arKI busin8SS
needs of the schcx)l.' and
Conts'nue to manage the relalionships wrth the Scliool's neighbours. tenants and the wider
community to best effecL
Strate
icRe
Revlew of Objectives. Achievements and Perfommnce
. The School underwent a fvll edueatitinal inspection in March 2020 by the Independent Schools
Inspectorate it has been awarded EX￿lIent in all categories of the inspection report.
•The excellence of the education al the S(*KX)I was rwarded by the granlir¥J of a lolal of 51
scholarships to senior schwls, of %%thich a total of 24 were laken up by our wpils..
. Under the school improvement plan we have addressed the follovding:
Our Edge Prcgramme. a unhiue set of exFErierKes and opportunib'es aimed at Upper
School pu￿lS has been extended further down the schcol - due to the SLJccess and
feedback from PUFNIS. It i￿ludeS our pupils wsiting the elderly at St. Peter's Church,
sup￿rtir¥j young readers at the Grdnge S¢trb)ol. leaming about aThJ using public
transport. service lo the school. film makiro etc.:
We have identified thrt temi building projects that we are pursuing, one vthich will
enhance educational F￿vIsion of our youThJest PUFNIS thr(xoh improved play facilities,
and the other COn￿Sts of a lanJe landscaFxng project for the benefit of enlire school to
enhar￿ creative play arKJ create outdoor teachiro space,.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Review of Objectives. Achievements and Perf0m￿nCe (contlnued)
We have anaroed a n￿mber of events brirvJiTrJ fom)er Pufmls and parents together to enrich
our current community. We are conlinuiTrJ to buikl a stronger alumni {The Orteyansl,.
d. The school is building a 'Masterplan' to scope and service the future needs of the school for
the coming decade. The aim is to join up sh)rt. MKI and lorKJ tem) aims with a cohesive
overview to ensure that all future deveh)pments are embedded in the eduCat￿nal philosophy
and aims of the sc￿01.. and
Ortey Fann Schwl continues to tsvelop a rw wothing partnership with South Hill Estates
(Harrow) Ltd and the res¥Jents of the estate.
• RelatM)ns bmth The Grange Prirnary scho￿ cOntinl￿ to evolve:
. A total of 27 PUF¥ls received finaThial 5UPEK)rt towards I￿1r fees through the School's Bursary and
Hardship SupFX)rt Scheme whi¢h was SFecrficalty created in response to the Coronavirus Pandemic:
. SC￿1 PoI￿leS continue to te reviewed lo ensure regulatory corn￿18n￿ %wth the frequently
changin9 regulatiorts:
• The IT continues to be upgraded to enswe IT SUPFQrt thro￿hOul tr* S¢tr*)ol for l)oth pupils
and admirmstrative stsff is up to date;
. Use of WCBS PASS, ISAMS. My Schy)I Portal aTrJ firefly intra￿t sof￿re continue to evolve:
• Elements of the &year strategic plan agreed by the GovemirKJ Body in 2015 continue to be
implemented;
. The pupil pick-up system Contin￿$. and in addition the Pre Prep Playground is used for parent
parking provided they are dropping off 3 dNklren. resulting in a substantial decrease in traffic
congestion on the South Hill Estste"
• The School a￿led a 20Yo Teduction to Summer Term 2020 fees in re5wn5e to the Coronaviws
PaThjeM￿ atwj it estsblisl*d a Hardship Suprx)rt Stheme to support our parent community: and
. The School S￿sS[u11Y pmvoted the delivery of its educalional Pro￿￿0n from onsite to remote in
respjnse to COronavin￿ PwKlemic whilst suppytiTh3 31 key worker Children
Pupll desllnations and Scholatship Awanls in 2020
Pupils often apply for, aThJ are awarded. scholarships for more than one Sc￿01. On these occasions. only
the scholarship for their future s¢hcd is actepted.
Bo
Destination S¢hool
Number of
Pupils
Scholarships Awarded
Aklenham
Haberdashets,
Haileybury
Harn)w
John Lyon
Merchant Tayk)fS
Rugby
StAlbans
Westsninster
TOTAL:
28
18

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Girls..
Destination S¢hool
Number of
Pupils
Scholarships Awarded
Haberdashers.
St Marylebone CE
Northw0(￿ College
Pamiterfs
Royal Masonic
South Harnpstead
St Bernard's Grammar
Sl Helen'$
St Margaret's
St Paul's
Q￿n$wood
TOTAL:
23
Res
nse to the Coronavirus Pandemic Financial Review and Results for the Year
It g)es without sayirwJ Ihat Ihis year has pre5errted a IK)St of Challer￿e5 much uncertainty for Ihe Orfey
Fam Community. as has been the case for many nationally and globally. On reflection. the Governing Body
are incredibly pro￿ of our Or1ey Fami Communty aThJ its resFonse to ￿ on4aoing Coronavirus Pandemic.
Early into the Coronawrus Pandemic oulbreak. a separate cornmittee compromBing of members of Ihe
Goveming Body and the Senior Leadership team was created to ensure a focused and timely response to
the Coronavirus Pandemic. This committee ensured all areas of the School's operalions including the
ed￿ation provision, finarte arKJ health safety were carefully assessed againsl a backdrop of rapidly
changing legislatK•n and Govemment policy. The outcomes from this committee were retM)rted to the whole
Goveming Body ensuring all G)verrK)rs were kept abreast wilh th8 chamenges faced by the S¢Pwl and its
reS￿nSes.
At the very start of this ParKJemic. ourteaclvs had to quick￿¥ adapt to a new way of teaching., this entailed
intensive trainirKJ on our remote leaming platforms in orderto ddiver ourleaching and leaming for our pupils.
The Headmaster. Senior Leaderstu"p team and teaching staff made great efforts in the way they actively
engaged with our pupils in deliveriThJ ￿atiVe leaming opportunibes through the various remote leaming
platfomis and the Governing Body are delighted that pupils also sWi￿Y adapted to the new way of leaming.
The School continues to use these remote leaming plafforms to deliver remote teaching for those familie5
who are self-isolaling whilst we continue ourjoumey through Ihese urKharted territories.
Over the Swnmer Temi. the teachirKJ arml leaming experience of pupils ￿mained of paramount imwrtance
for the staff at Orfey Farm School and. il is with their dedKalion and support. the School We￿ able to offer
a number of activities. all within Govemment guidelines. to provNJe an opportunity for the school community
to reconrEct v￿h each other. These aclivities incltxjed a crealive allematsve to the tradrtional 'Expedilions
Week, whith became 'Conneckn"ons Week.; a 2-day caroLwI of exciting and fun activities and challenges on
the school site for every year group and, for th8 remainirwJ 3 days of that week. all children were invited to
reflect and respond in thwr own personal ￿aY to the hMJhs and lows ofthe year. The culmination ofthis was
each pupil putting togetr*r a kyesentation in a variety of media to show I￿1r fom the follo%MTh3 week.

ORLEY FARM SCHOOL TRUST
AMNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Otherevents induded welcomirwJ PU￿lS back in Reception. Y1 and Y6 in the Summer Temi, offering SUFfJOrt
to key worker children and staging an altemab've out(kK)r Speeth Day. which became 'Orley Farm
Celebration Day,, for our leaver5.
There were nLMmerous requred changes which b)th teach8r5 arnl suprM)rt staff had to adapt to in order lo
prepare for the safe retum of all staff aThJ pupils on the schiy)I sile for the slart of the new academic year.
These necessitated tM)th physical changes lo the way the school operates as well as orerational changes
to the provision of a number of SUPFM)rt services. From an opera￿n?1 Fer5r)e¢tive in particular, this required
a significant degree of Fdanning by caretaking, cleaning and cateriThJ staff in order to ensure the school
buildings were adequately ventilated and cleaned each day. along with adapting to sta99ered and separate
break and lunch times betrween 'bubbles' and Ihe crealM)n one way systems to for all staff and pupils to
navigate the School. The grounds arKI maIntena￿e teams had to adapt to staggered drop off arMJ collection
times wa the drive through. aThl the increase in traffic generally with less car shariro and use of public
transwrt. whilst the administration and nurgrvJ teams have deall with a signtficant increase in calls from
both staff and parents in relation to coronavirus see￿r￿j help. gubdarre arKI often just ￿$SUranCe.
The Goveming Body were well aware of the ￿r￿ertaInty faarrfJ many of our pa￿nts during these difficult
and unprecedented times aThJ offered an ameThlment to Summer Temi 2020 fees as well as committirKJ to
a fee freeze for the 2020r21 acaemic year. In addition lo this. a Hardship Support Scheme was created
durirYJ the period which. in cOnjur￿lI0n with Fee SupFX)rt Scheme, provi(led finan(ial support to 27 pupils.
Further details are avaiL3tAe below uThYer the headirwJ Fee SupFM)rt. Headmasterwas also all too aware
of the challenges faciro our Orfey Fann parent community arKi de(aded to supwrt these parents by taking
a reduced salary for t4K) ftk￿ths.
As a direct consequence ofthe Coronawrus Pandemic. the Sckol m&Je a cortscK)us decision to scale back
all its nonossential expwKltture and pause on tsvo short term buihying prqects until a clearer picture of the
economic landscape is established. The operating costs of the year were £6.617.98812019 - £6,853.1261.
However. due to the Coronavirus Pandemic a number of roulire services repairs have been wstponed
in to the fOrt￿Mir￿j ￿adeMiC year. these postponed costs are expected to be in the region of £155.000.
It is also anticipated that additional costs will te incurred in the forlhc(Nning academic year in respect of
technology. both hardware and sOf￿￿re. to ensure that our remole leaming delivery Continl￿ lo develop
as well as increased S￿nd on onsite health aTrJ safety provisions.
The school generated net fee income of £6.983,682 {2019 - £7,264.324>. whth was the primary source of
revenue. The substantial drop in netfee income compared to the prioryearwas as a consequence ofoffering
an amendment to the Summer Tem) fees. thus reduung expected fee incy)me by £5C6,527. and also
provtding additional supwrt to our parenls via our Hardship Supwrt Scheme. The additional ir￿OMe, as
reported within Ihe Ststementof FinarKial Activity. vras mainly generated from investments. rent and interest
along with a govemment grant from the participation of the CoronaWn￿ Job Retention scheme. The school
also made an appli¢ation to its bank for a capitsl repayn*nt holiday on ils loans that was suc£essfully
granted in the summer nK)nth5. and in lum alleviated Ihe pressure on the SchLM)I'$ ¢ashflow.
All the atrx)ve has helped generate the surplus of £903.056 {2019: Surplus of £709.6851 of the year. The
school has earmarked £S0.000 of this surplus to be used to supplerrtht our Fee Supwrt Scheme in the
forthcoming year, and ts remainder towards projects that were ￿aCed on hold tolalling £1.000.000. The
Board of Govemors are confidenl that the S¢hool'$ finantial situation is in a sound position which will enable
the School to manage Ihe current economic wThrtainty arnl imminent recession whilst balanciro the
interests of all key sLqkeholders.
Freehold Properties
In addrtion to the School buildings. the SclM)ol ovm5 four reydential properties at New Julians (Headmaslerfs
House). Oakme&J HoLtse and Ortey Fami Cottage (for staff occupation only). and west￿Ume House {nine
ats. part staff arwj part non-staff o(thpar￿Y}. Incorne generated from property revenue this year was
£129,38612019- £130,674).

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Extr&Currfcular Acllvltles
Our extra-curricular progrdmme contr￿S to be ￿111 an)uThl our weekly programme of lunchtime and after
school clubs. However due to the Coronavirus Patvjemic, we were unable to offer our Odey Fam tradition
of Expeditions. Nevertheless. the Sthool are I￿king for ways to reinstate the Expedits'on Week for the
2020121 in line wilh govemment guidelines.
Public benefit
As required by the Charitie5 Act 2011, Gove￿￿)15 have referred to generdl gUIda￿e on public ben8fit
aTKJ have due regard to the Charity Commission's guidance on public benefft. including the guidanc8'Publ
Benefft.. Running a Charity {P82)'.
As part of our public tenefiL we co-operate with a range of local charities wi our ongoing endeavours to
wi(Jen public ac￿55 to Ihe schooliro we provide,. to opts'mise the edu¢ational Ltse of our cultural and S￿rtIr￿j
faCIl￿e$ and to awaken in our pupils an awareness of Ihe wider social context of the education they receive
at the School. ￿ rK)te, follo￿.ng activrbes have tsken F4a¢e:
. Partnership with Grange School. The SC￿1 contin￿$ to supw)rt the Grange Middle Sch)ol,
Harrow. This supwrt has i￿ruded prowding tran¥M)rt and invitations to SpO￿ng toumamersts and
drama pr0dl￿tIOnS., in addition, our senior pupils are part of their pal￿d readirKJ scheme, Maths Day
and they support younger chikjren in dass through our community'Edge" Programme.
. Use of Sportlng facilitles. St Dominic's College. ffoke use ofour sport5fr1ds whth include cricket
pitches. Aslroturf soccer piches. SL Georges School Contin￿ to make occasional use of our
Sc￿er iitches.
• Work Experlence. The School continues lo offer work experien(x placements to st￿￿entS from
various colleges whereby some students gain sp)rts coadNng experien￿.
• Sports Toumaments. The School has again organised foott)all and netball toumaments and Year
2 Multisport. LcKal schools attended on a number of occasions. These events continue to evolve.
. Harrow Cricket Club. By continuiNJ to subsidise the overheads of Harrow Cricket Club. over tsvo
hundred youth cricketers aThJ a numberof adult teams from the wider eommunrty have access to the
5porL The junH)r ¢olt'$ teams also make use of the sports hall dunng wnter n￿nthS *) support of
their exparKthrwJ junior cricket programme.
. Local church youth worker. The SchcKJl supwrts Christ Church Roxeth by subsiding the costs for
a youth worker to SUPFX)rt the community in ed￿tiTh3 the k￿1 youth in the danger Df knrfe crime.
• Charitable Glvlng. The scM)ol has raised £2.935 for Place to Be Hospital and £120 for Henry van
Straubenzee Mernorial FurKI. In addition to this a donation from our Parent community of£2,016 was
made towards the Henry van Straut*nzee Memorial Fund.
Fee Support
This year we SUPFQrted a total of 27 pupils at a cost of £138.679 throLoh our own Fee Support Scheme aTrJ
our Hardship Support Scheme created during the period. as a direct resFonse to the Coronavirus Pandern￿.
Our parent community kindly donated £9,303 into the Hardship SupFort Scheme. This supp)rt, which is
available on a needs ba￿s, was detemiined by the Chair of Ihe Finance and General Purposes Committee
in consullation with the Headmaster arNJ th8 ￿'[ectOr of Fina￿.
10

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2020
Plans for Future Perlods
These plans remain:
To enact the School's Eststes Strate9y. of which £1 m has been set asKle for 202012021;
To enact ourfinancial Flans in supwrt of this Estates Strategy..
To enact the School's other development plans and priorrlies as articulated in the 5 Year
Strategy agreed by the GoverTr)rs for whith a designated fund ha5 ¢￿ated.
Objectlves for 202012021
Maintain the eX￿llerte of the educational provision throughout the school;
Obtain the necessary building and planning eonsents lo improve the school's infrastructure by
refurbishing our PrevPrep and build an ould￿r play area within our meadow:
To enact future phases of Ihe Refurbishment Plan.
To enact phases of the School's Master Plan"
To cary on relations with the Grange Sch￿1 in Harrow;
To continue the review of our KKocedures arml p)licies to ensure total reg￿atOry compliance:
Conljnue to improve the Fonner Pupils. Association IThe Orfeyansl;
To ensure the provision of IT within the Schjol contil￿e5 to meet the acadern￿ and business
needs of the school:
Continue to manage the relalK>nship5 V*ith the School's nel9htK￿rs, tenants and the wider
community to best effect..
10. Continue to manage the School's ed￿atron pffjvision. estste management. resFMJnsibility to
pupils, staff arKI the v•ider school uynmunty to best effect whilst managing the risk of the
Coronavirus ParKl8mic.
Reserves Policy
The total reser*$ for the ￿h0o1 were £13.496.752 ofwhich £1.OCK).000 related to desNJnaled fvnds leavi
£12,496,752 as total free reserves. As the assets of the school are £13.496,752 the school does not hold
any free reseThes. The aim of the sch(x)l is to build up its reseThes to ensure it has at least working capital
which is greater than one monlhs. eXFendrtv￿ and tr• have an additional amount to cover any existing
commitrnents the school may have entered into. At 31 ALNJUSt 2020 wod(ing capital stood at £3.620.101
vthich is greater than one month's exF¢nditure as desired. The Govemors will continue to strive to generate
funds in line vthh minimum targeted knls. Re5erv85 Policy v•ill be reviewed on an annual ba$is.
Remuneralion Policy
The Remuneration Committee are lasked with revtev•ing remuneration on an annual basis. Con5ideralion is
given to the current mathet corNJitions, perforn￿r￿e and obJ"eclives set at the beginning of each academic
Responsibilities of the G¢)vemors
The Govemors (who are also director5 of Orley Fam) Sclbxjl Tntst for the purposes of company law) are
responsible for preparing the ReFQrt of the (>)vernors (including Strdtegic Report) the financial
statements in accordance wtth applicable law and Unrted Kingdom Accounting Standards {Uniled Kingdom
Generally A￿pIed Accounting Practice).
11

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year endgd 31 August 2020
Company law requires the Govemors to prepare finarKial statements for each financial year. which give a
true and fail wew of the stale of affairs of the charitable company and of the incoming ￿$OUrceS and
application of resources, incI￿ling the Ir￿ome and expeTrdrtu￿, ofthe charitalje Company forthat Feriod. In
preparng these fwkqncia statements. the Govemors are reqLired to:
select suitable accounting rx)licies 8rMI then apply them consistently:
obseThe the methods arbj principles in the Charities SORP 2019 IFRS 102):
make J￿ments and estimates that are reasonable arKI pnxlent..
state whether applicable UK Accountiry Slandard5 have been followed, subject to any
material departures disclosed aTrJ explained in the financial statements:
prepare the financial statements on Ihe goirffJ concem basis unless it is inappropriate
to presume that the charitable company wll continL* in operation.
Th8 Governo￿ are resFM)nsilJe for keeping adequate accountitvj records that disclose with reasonable
accuracy at any time the financial positK)n of the charitable company and enable them to ensure that the
financial statements cornp5y the Companies Act 20c￿. They are also responsible for safeguarding the
assets ofthe charitsble company and he￿e for takiro reasonable steps forthe p￿VentIOn and detection of
fraud aTrJ olher irregLdaribes.
In $0 far as Goverrm a￿ a¥Yare:
there is no rdevant audit infomiatj'on of vthith the d￿ritab[e company's auditor ts unaware: and
the Govemors have taken all steps that they ought to have taken lo make themselves awa￿ of any
relevant a￿lIt information and to esiat4ish that the auditor is aware of Ihat infomation.
Auditors
PKF Littlephn LLP has signified its wllingness to ￿)ntInUe in offKe as auditors.
A resolution prow&rnJ Iheir r￿pWfttrnent viill be submitted at Ihe Annual General MeetirwJ.
Approved by Board of Governor5 of Orley Farrn S¢lvJl Trttst on 30th Novemt*r 2020 and signed on its
behaw by:
C J Hayfield
Chaimwi
12

ORLEY FARM SCHOOL TRUST
INDEPENDENT AUDITOR'S REPORT
Independent audilor'$ report to the members of Orfey Farm School Tnjst
Opinion
We have audited the financial siatements of the Orley Fami Sch(M)l Trust {Ihe 'charrlable ¢ompany'l for the
year ended 31 August 2020 which comprise the Ststsrr￿nt of Financial Activitie5. the Balan¢e Sheet. the
Cash Flow Ststement and notes to the ￿Tra￿al statements. Ir￿lUdIng a summary of signfficant accounting
policies. The financial reForbrvJ frdmewofk that has been applied in their prepardtton bs applicable law and
United Kingdom Accounting Stsrmlards. i￿luding Financial ReportiTrJ Stsndard 102 The Financial Reporting
Standard 8pplicat4e in the UK and Republic of Ireland {United Kingdom Generally A¢¢epted A(£ounting
Practice).
In our opinion. the ffina￿al statements:
give a true and fair view ofthe stale of the Charitab￿ company's affairs as at 31 August 2020 and of
its incoming resources aTrJ apF4tcation of resources. inclUdw￿ its 1￿me and expenditure, for the
year then ended;
have been proterfy prepared in a¢XOrdar￿8 with United Kingdom Ge￿rallY Accepted AccountirrfJ
Practice; arKI
have been prepargj in accordarre wlh the req￿￿rnents of Ihe compan￿ Act 20CiS.
Basls for opln6on
We conducted our audit in aCCordar￿e with Intemational Standards on Auditr'ng {UK> (ISAS IUKII and
applicable law. Our reS￿n￿￿111IeS under tIK)se stst*tsrds are further described in the Auditorfs
KX)nsibiltties lor the audit of the finanaal statements section of our reFQrt. We are independent of the
charitable company in accX)rdan￿ wth the ethThl rwuirements that are relevant lo our audit of the financial
statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical
ponsibilities in a¢cordan¢e with these requirements. We believe that the a￿lIt eVKIen￿ we have obtsined
15 Sur￿"ent and apwopriate to prowde a basis for ow Op￿￿)n.
Conclusions relatlng to golng concem
We have rnthing to report in resFect of the foll0v￿r￿j matter5 in relati￿ to which the ISAS (UK) requi￿ u$ to
report to you where:
the trustees. use of the going concem basts of accounting in the preparatBJn of the fin￿Cial
statements is rnt appn)priate', or
the trustees have not disclosed in Ihe financial statements any idenb'fied material uncertainties that
may cast S￿nIficant doubt about the eharitsble company's ability to continue to adopt the going
concem basis of accounting for a period of at least tsvelve months from the date when the finatKial
statements a￿ authori￿ for iw.
13

ORLEY FARM SCHOOL TRUST
DEPENDENT AUDITOR'S REPORT
Other infommtlon
The other informat#)n o)mprises the infomwtitin 1r￿l￿jed in the Annual Rep)rt ofthe Governors. olher than
the financial statements and our auditorfs report thereon. The trustees are responsible for the other
infom7ation. Our opinion on the finarKial slatements does r￿t cover the other information and. ex￿pt to the
extent othemise expliciliy ststed in our reFQrt. we do notexpress any form of assuran￿ ¢onclusKJn thereon.
In connection ￿1th our audit of financial statements. our resFonsibility is lo read other inforrnalion
and. in doing so. conskyer Whettr￿r the other inf0m￿tiOn is materialty inconsistent wilh the financial
statements or our knowledge obtained in the audit or Othe￿ISe appears to te materially misststed. If we
identify suth material irwwstencies or apparent material misstatements. we are ￿Uired to d8terynine
whether the￿ is a material misstatement in the financial statements or a material misstatement of the other
irfomation. If. based on the work we have perfom*d, we ConCl￿￿e that there is a material misstatement of
this other Info￿allOn, we are reqiired to rewrt that fact.
We have nothirKJ to report in this ￿gard.
Opinions on other matters prescrlbed by the Cmipanies Act 2006
In our opinion, based on the woth ur¥Jertaken Y) the c(KKse of the audit:
the informalion given in the Annual Report ofthe Govemors (l￿[ating the Trustees, Report and
Directors. Report) for the finanaal year for which the financial statements are prepared is consistent
with the finarKial 5tstements: arnl
the Annual Report of the Govemots {inCorF￿￿.ng the Trustees. Report and Directors. Report) has
been prepared in ac￿rd8￿ wih a￿l¢able legal requirements.
Mattern on which we are required to veport by exceptlon
In the light ol the knowledge and undev5tanding of the charilatAe coThpany and ts envirvnThpnt obtsined in
ihe cowse ofthe audit. we have Th)t 1dentffj￿ materia rnlsstaie￿￿rt$ in the Annual Rew)rtoflhe Govemors.
We have nothing to report in resFect of the follov•iW mattets in relation to which the Companies Act 21J)6
u1￿$ us to report to you rf, in our opin￿n.
adequate aeeountiro records have not been kep( or retwns adequate for our audit have not been
ived from brarthes Visbted by us: or
the financial statements a￿ not ￿ agreernent with accountirwJ re¢ords aThJ ￿tUrnS. or
certain disclosures of trustees. remuneration spe¢ffied by law a￿ not made: or
we have not re￿iVed all Ihe wfft>mk31ion ar#Y explanations we require for audiL or
14

ORLEY FARM SCHOOL TRUST
INDEPENDENT AUDITOR'S REPORT
Responslbllltles of trusteos
As explained nKire fully in the truslees. respon￿bilItIeS slatement. the trustees (who are also the directors
of the charitable compary for the purwses of company law) are reS￿nSible for the preparation of Ihe
financial statements and for being satiSf￿d that they gwe a true and fair view. and for such intemal control
as the trustees determine is necessary to enable the preparab'on of financi￿ statements that are free from
material misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are res￿nSIble for asSes￿ng the ¢haritsble company's
abilty to continue as a goiro CAN￿ern, disdosing. as applicable. matter5 related to going concem and using
th8 going concem basis of acC￿lnting unless the Iruslees either inteNJ to liquidale the charitable company
or to cease operdtions. or have Tr) realislic aliernative bul to do so.
Audltor's responslbllili¢s for the audlt of the financial statements
Our ofy'ectives ar• to obtain reasonable assurance a￿ul vthether the fwwrKial ststeffEnts as a whole are
free from material misstatement. vknether due to fraud or error. and to issue an auditorfs report that Incl￿eS
our opinion. Reasonal￿e ass￿rar￿ is a high level of assuran￿. but not a guarantee that an audit
Conducted in aCCordar￿e with ISAS (UK) will always detect a material misstatement when it exists.
Misslalements can arise from fraud or error are Conside￿ material rf, individually or in the aggregate,
Ihey coubj ￿0$OnablY be expected to Influe￿ the ecorK)mic decisi￿￿ of IL5ets laken on the basis of these
financial statements.
A furttw descripts.on ofour responsibilitieslor the a￿lt oftr* finarKial statements is lotsted on Ihe FI￿ncIaL
Reporting Counryl's website al.. vAYw.frc.o
.uklauditorsres
. This description fomis part of our
auditor's reporL
U$¢ of our report
This report is made solety lo the charitable company's members. as a body, in accordance with Chapter 3
of Part 16 of the Compan￿5 Act 21￿. Our a￿j11 w)rk has been undertaken 50 that we might stale to the
charitable crynpany's members those matters we are required to state to thern in an auditorfs report and for
other purpose. To fullest exlent pemitted by law. we do not accept or assume responsibility lo
anyone. other than the charilaNe company and the charitsble Companys members as a t#xly, for our audit
work, for this or for Ihe ovni￿$ we have fomied.
Alastair Duke (Senior Stalutory Auditor)
For and on behalf of PKF Littlejohn LLP
Stalutory Audltor
Date.. 3 December 2020
1 S Westfery Circus
Canary Wharf
London E14 4HD
15

ORLEY FARM SCHOOL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
In¢orpornting an Income and Expenditure Account
Year ended 31 August 2020
Incoming Resources
2020
2019
Note
Charilable A¢tiviti•s:
School fees recewable
Registration fees
Anollary trading incorne
Other income
Grant income
6.983,682 7,264,324
10,150
11.000
55,141
82,546
167.532
203,159
298.062
2a
Other Actlvilles to Generdte Funds:
Investments
6,477
1782
Total Income
7.521,044 7,562,811
Expendllure on:
Raising funds
FinanciNJ costs
91.942
1￿.329
Charltable Actlvilles
Ar￿illary trading cnsts
Primary ed￿atIonal costs
2b
22.639
54,908
6.503.407 6,691,889
Total Resources Expended
6.617.988 6,853,126
Net Movements in Funds for the Year
3.056
709,685
Balance at beginnirKJ of year
12.593.696 11.884.011
Balan¢e at End of Year
13.496.752 12,593.6
All of the activilies (rf the Sclwl are conlinuiThJ. The Sththl has no recojnised gain or losses other than
as slated above.
All 1￿mir¥j ￿sOUrceS are Un￿StrIded.
The A￿Unting Policies and Notes on pages 19 to 28 forni part of these Financial Statements.
16

ORLEY FARM SCHOOL TRUST
Company Numb¢r. 628541
BALANCE SHEET
At 31 August 2020
FIX￿ Assets
Note
2020
2019
TarbJible fixed assets
Investments
13.244,706
20.950
13.615.085
20,950
13.265.656
13.636.035
urrnnt Assets
Debto
Cash at barA( and in haThJ
10
242,797
3,620,101
167.391
2.377.224
3,862,898
2.544.615
Credftors: due within ort year
11
(951,1￿)
(917.6941
Net Current Assets
2.911,793
1.626.921
Creditors: due in more tl%gn one year
12
(2,680.6961
{2,669.260}
Net Assets
13,496,752
12,593,696
Unrestricted Funds
14
General ftmd
Designated FuTrJs:
Buildir¥J Refurtjishrnent fLThI
12.496.752
12.593.696
1,(KK),OIXI
13,496,752
12.593.696
Approved by the Board of Govemors on 30th Novernber 2020 and signed on its tehalf by:
C J Hayfield
Chaivman
Thg Accounting Policies Notes on pages 19 to 28 forrn part of FInar￿la1 Statements.
17

ORLEY FARM SCHOOL TRUST
STATEMENT OF CASH FLOWS
Yèar ended 31 August 2020
2020
2019
Net Cash Infflow from Owrating Aclivilies
15
1.515,885
974.960
Cash fl¢)ws from Investl Aclivltles
Payments to a
uire taThJib
e fixed assets
Interest recei
Interest paid
141,608)
6.477
91
{110.161)
1,782
Net Cash Infl¢)wl{0uth￿￿j from
Investing Activities
(127,073)
1214.708)
Cash flow from Financlng Actlvltles
Loan Repayment
(145.935)
1253,164}
Increasel{Decr&ise) in cash
In the year
15
1,242.877
507,088
Reconcilialion of Nét Cashfirm to
Movoment in Not Fun(ts
Increasel(Decrease) in cash in the year
Net decreasel{increase) in bank loan
1.242.877
145 935
507,088
Change in fuThJs resuth"rvJ from ¢ash flows 15
Movement in net funds in the year
Net funds at Winning of the year
Net Fund5 at End of the Year
1,388.812
760.252
1 327 223
15
The A¢0￿n11n9 P0￿cleS arml Notes on pages 19 to 28 fo￿ part of these Fina￿la1 Statements.
18

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Basls of Accountlng
Orfey Fam School Trust is a charitable ¢ompgny in ts Uniied KiTh3dom. In event of the charity beiro
wound up, the liability in respect of the guarantee is limited to £1 per member of the charity- The address of
the registered office is given in the charity infom)alK)n on page 2 of these financial statements. The nature
of the charity's operations and prinopal activities is the operalion of Orley Fami School.
The charity constitutes a pub￿¢ tenefrt entty as (lefirEd by FRS 102. The finarKial ststements have been
prepared in accordan￿ ¥￿th A¢countirwJ arKI Reportir#J by Charilies.. Statement of Recommended Practice
applicable to charibes preparing their accounts in a￿ordance th the Financial Reporting Standard
apFdicable in the UK arKI Rewblic of Ireland (FRS 102) issued on 16 July 2014. the Financial RewrtiThJ
Standard applicable in the Uniled King(k)m and Republic of I￿land IFRS 102). Ihe Charities Act 2011. the
Companies Act 2006 and UK Generalty A¢(xpted Practice as il applbes from 1 January 2015.
The financial ststements are prepared on a goiro concem basis under historical cost ¢onvention.
modrfied to indude certain items at fair value. The f￿￿￿￿al statements are prepared in steding which is the
functional currery of the charity.
The Govemors havè assessed wtthr the use of the WINJ co￿eM basis is appropriate and have
considered possible events or corKlitions that M￿h1 cast signffjcarrt doubt on the abilty of the School to
continue as a going cortem. The Govermrs have made this assessment for a period of at least one year
from the dale of approval of the finanual statements. In particular th8 Govemor5 have considered
School's forecasts and projecliorts and have taken account of pressures on fee income. pa￿cularlY in light
ofthe impact of ts Coronawrus Pandernic which ocEurred before these financial 5tstements were approved
and is explained in more detail in the Risk man￿ment section of the Govemors Rewrt in these financial
ststements. After making enqimries the Govemors Iwve concl￿ that there is a reasonable expectation
that the School has adequate resources to conb.nue in operakn'onal existen￿ for the foreseeable future.
As such the School can expect to be able to meet its li*)ililies as trw fall due in the kvicxj ol at least 12
months from the date of approval of these arLovnts. However. there Can tr* no certainty in relation to these
matters. On this basis the Govemor5 have concluded thal the School is a going corKem. The financial
statements do r*)t include any adJu5trnents that would ￿$V11 from the School rL)t being able to meet its
liabililies as they fall due.
The signfficantaccounkn'ng policies applie(l in preForation ofthese ffirmncial statements are set oul below.
These poli￿ have been Co￿81$te￿Y apph'ed to all years wesented unless otherwise stated.
The Tnjst is the beneficial owr￿r of the whole ofthe share capital of South Hill Estates Ltd. The Company's
assets transactions in the year are not considered material. Iherefore the Govemor5 consider it is not
appropriate to prepa￿ Consolidated a￿oUnts of the Trust and its subsidiary.
Cash and ¢ash equivalents
Cash and ¢a$h equivalents incI￿Je Cash at bank arKI in hand.
Judgements and key $our¢ts of ¢stimatiM and uncertainty
The weparation of the finan(ial statements reqviTrs management to make judgements, estimates and
assumptr'ons that affect the amounls reFA)rted for assets and liatrAlities as at the balarKe sheet date and the
amounts reported for revenues and exper￿e5 during the year. However. the nature of estimation means
that actual outcomes could differ from I￿se estimales. The judgernents {apart from those involving
esknmatesl that have had the most ￿gnifir￿n1 effecl on amounts recognised in the financial statements
related to the useful economic lives of tsngille fixed assets. aThl judgemerts in relation to the ￿￿ver2￿.1Ity
of debtor balances.
Grant incomo policy
Income from grant is furtough irtome received from HMRC. It is recognised in lirE with the Feriod to which
each claim ￿lateS
19

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Income
All incoming resources are incI￿led in the Statement of Financial Activities ISOFAI when the Sthool 15 legally
enlrtled to Ihe irKome, after any performance condilions have been met, wlEn the amounl can be rneasured
reliably ar¥J v*then it is probalje that Ihe income will be received.
Fees receivable and charges for seNices and use of preffises are a(£ounted for in the period in which the
Servi￿ is prowded. Fees received piior to the erwj of the year in respect of the following tern￿ are shown
on the balance sheet as deferred irmne.
Income from donations is recoynised on recapt. there are no conditions attached to any donation thal
require a level of perf0m￿nce before entitlemenl can be obtsined. Gift Aid on d(￿atiOnS is accounted for
when the related donation is received.
Legacy income is recogThsed when Odey Farn se1￿￿￿ Trust becomes aware that probate has been granted,
there are sufficient assets in the estate to pay the legacy and that any Condit￿n5 attached to the legacy are
either in control of charity or have already been met. On occasion lega(ie5 can be notified where it is
not p￿sIble to rneasu￿ the amount expecled to be distribuled with sufficient reliability. On these occasions.
the legacy would be treated as a conliroent asset aTrJ disdosed.
Assels donated to the T￿L￿t would be sknm as a donaiion aThJ capitalised at what would have been a
reasonable cost for the T￿￿t to acquire the assets in its own nght on an arn's length basi%.
t>onations legacies for the gerErdl purtM)ses of Orley Fami School Trust are credited to unrestiicted
furnls. From b'rne to time the Governor5 (￿nate unrestricted donatrons for specffic purposes. Donalions
and legacies subject to s[￿lfiC wishes of the dorw)rs would be credited to relevant restricted funds or to
endowed funds, rf ￿ amount is reqimred to be hekl as perna￿nt or eXpe￿lable capital.
Investment if￿0￿e is eamed Ihrough holding assets for investrnent purFW)ses such as prO￿rty. It includes
Inte￿$1 and rent: Interest ir￿rne is reCOgr￿Sed Ythen receivable arKJ rent is recognised when the charity's
right to receive payment is established.
Expenditure
All expenditure is accounted for on an accruals basis. Expendtture is r￿niSed where there 15 a legal or
constructive obligation to make payments to third parties. it is probable that the settlement will be reqUI￿d
and the amount of the otrAigation can be measured reliat4y.
Charits￿e activibes c>)sts ind￿je all exFenditure directly relatirYJ to the objects of the Schwl.
Govemance costs comprise the o)sts of running the charity including strategic planning for future
development. auditots. remuneration. eerlain legal costs, Govemors. expenses and the costs of comptying
with constitutional arKI slatutory requirements. These costs are contained wtthin 'Support and Management
Costsryotherf (see note 4).
Unrestricted Funds
Un￿trICted funds consist of ￿r￿al reserves ￿thIch are available for the Govermrs to apply to the generdl
purF()ses of the Sthool.
Designated funds cortsist of certain unrestricted fvnds which Govemors have eannathed for particular
purw5es.
20

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Tangible Fixed Assets
Expenditure on land and buiklirwJs which. in the opinK)n of the &)vemors, has not enhartrd Iheir long-temi
Wdlue is charged to the SOFA. Expenditure on improvements to Lgnd and buildirrfjs which. in the opinion of
the Govemors, has enhanced their long-terrn value is ￿pI￿lISed. Expenditure on plant. equipment
{induding IT equipment) and furnrture whth is in excess of£1.(N)O per item. or group of items, is capitalised.
. Asset5 in the course of ConSt￿on are capitaltsed arKI dewec4ated when brought into use.
Depre￿atIon is provided on all 0￿r tsngible fixed assets. including freehold propety. to write off their cost
less residual value over their estimated LJ5eful lives brought into use. at the followTrJ rates:
Freehokd buildings
Buildings of rw)n-pemanent constnjct
All weather PNtch
Fumtbjre. fixtures and equipmerrt
Computers
Motor vehicles
TelepFv)ne System
2% on cost
4% on cost
10% on cost
15% reducing value
25°h on reducing valu8
25°A on reducing value
20% on re￿cIng value
The residual value for all classes of assets. incI￿ling recent additrons to the school buildings, is deemed to
be zero. The exception to this rule being the original freehobj buildings. for whith the resmjual value 15
deemed to be 50% of the original cost lo rell8Ct land values.
Inveslrnents
Listed investments are stated at rnarket value. Realised gains and losses arising on sales of investments
and unrealised gains arKI k)sses arisiry on the ￿ValUatiOn of the investments at the year*nd are tsken to
unrestricted funds on ￿ SOFA.
Investments in subsidiary U￿lertakITrjs are rec￿rded at o)st less any prowsM)n for impaiThnent.
Operating Leases
Renta15 paid under operating leases arv tharged to the SOFA.
Taxalion
The School. as a registered tharity. 15 generalty exernpt from CO￿)Iation Tax t￿rt not from Value Added
Tax IVATI. Irrecoverable VAT is induded in the Cost of those rtems to vlhich rt relates. The School's
subsidiary tradirvJ companies are liatje for Corwrdtion Tax on taxable profrts ￿t paid to the Schwl as
qualifying donations LThler the Taxes Acts.
Pension Schemes
The School contributes to the Teachers, Pension Stheme. which is a defined benefit scheme, at rates set
by the Govemment Actuary a￿1 advised to the &)vemors. The Scheme is a mutliemployer pension
scheme and il is mt Fossible to identrfy the assets andloixlities of the Scheme which are attributable lo the
School. In accordance with FInar￿la1 ReFQrtirvJ Stsndard {FRS 102)- Retirement Benefits, the Scheme is
therefoTr accounted for as a defined Contribution scheme. Conlributions to the Scheme are charged lo the
SOFA as they become payable in ac¢ordarKe with the rules of the Scheme.
The Sch￿1 also contribuies to iTrJividual personal pensKJn schemes for non.teathing 51aff. .
21

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2020
1. School Fees Recelvable
2020
2019
Fees ￿ceNable consist of:
Gross fees
Less.. total bursaries. grdnts allowws
7.197.462 7,491.730
(213.780) (227,4(￿)
6,983,682 7,264,324
Included wthin bursaries, grants and allcswances of £213,790 {2019.. £227,406) is arnounl of £138.679
{2019: £100.9971 in respect of our Fee SuppK)rt Scheme and our created Hardship Suwort
Scheme durirKJ the period as a direct TrSkW)nse to the cOrDr￿viruS PaThJemic.
2a. Anclllary Tradlng
2020
2019
Coaches
After Schwl Clubs
Excursions
Disbur5emenls
PUFMI Insurdn
2,221
19,835
2.250
27,466
12,178
21,822
18.830
11,*1
21,124
55.141
82,546
2b. An¢illary Trading Costs
2020
2019
After SchcK)I Clubs
Excursions
Disbursements
PuF41 Insurance
18.385
17,280
19,243
11,915
10,724
22,639
54.908
3. Other Incorne
2020
2019
Shop sales
Property
Holiday Club
Mi5cellaneou$
150,269
12,328
4,935
167,842
20,430
14,852
167.532
203,159
4. Grant income
The School re¢eNed a grantof £298.06212019'. Nil) in relation to the Coronavirus Job Retention xheme.
At the year- end an amount of £23,231 had been ac¢rLtd as ino)me in relation to the grant due for
August 2020.
22

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2020
5. Analysis of Charitsble
Expenditure
Salaries
Other D¢prociation
Total
201
TeachirvJ
Welfare
Premises
Supp)rt and management c¥)sis
3,802,294 313.684
222.842
133.346
386.818
466,621
539,273 226.542
4.115.978 4,179,420
356,188
402.611
1.265,426 1,291.120
765,815
818,738
411.987
4.951.227 1,140,193
411,987 6.503,407 6,691,889
6. Employees and Key Management
2020
2019
Staff costs
Salaries wages
Soaal security costs
Pension costs
3.875.598 3.884.628
391.567
391.377
684.062
521,676
4.951.227 4.797.681
Neither the Govemors nor persons connected to them received any reM￿leratI)n or benefits or
imbursements of exrEnses fmm the SCI￿1 with the except￿￿ of the items reported in note 16 of the
statutory accounts.
The number of higher paKI emptyes whose remunerntion for year fell wilhin the following bands
was:
2020
2019
£60,001- £70,000
£70.001- £80.000
£100.W1 - £110,000
£110.001- £120.000
Pen￿on contribulions of £68,356 {2019- £51,435) ￿tre m&Je on behaff of these employees.
Staff Numbers
No.
The average number of full tim8 equivalent slaff empw by the school
within each category was:
Teaching staff
Other staff
52
48
53
49
100
102
The key management pe￿rrel of the sclK)Ot indLMJes the Governo￿, the Headmaster. the Director of
Finance and the Director of Operations. The aggregate em￿oyee beneffts of key management
personnel of the School were £251.725 {2019- £247.992).
23

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2020
7. Net Movement in FurMIs
2020
2019
This is ststed after charyirul{uedittrwJ):
Auditors. remuneration
current year amjit
12.190
11.950
Dep￿CIall0n
411.987
416,212
{Profft) or loss on the disFwi (rf fixed assets
28,846
8. Tanglble Flxed Assets
Furni￿re, Assets in the
Freehold land
equipment
Qurno of
and buildings and vehicles
construction
Cost
Total
At 1 September 2019
Additions
Transfers
Disposals
15,723,613
6.456
2.003.111
35,152
33.426 17,760,150
41,608
At 31 Augusl 2020
15.730.(E9
2.038.263
33,426 17.801,758
Deprecialion
At 1 September 2019
Charge for the year
Disposals
2.451.907
351.456
1,693.158
60,531
4.145,065
411.987
At 31 August 2020
2.803.363
1,753,689
4,557,052
Net Book Value
At 31 AwJust 2020
12.926,706
284,574
33.426 13,244,7(
At 31 Augu* 2019
13.271,706
33,426 13,615,085
9. Flxed Assets Investments
2020
2019
i) In¥￿¢mont in Subsidiaries- shares at cosl
South Hill E51ates. Harrow Limited
Orley Farrn SdK)ol Enterprises Liniled
20.950
20,950
20,950
20.950
The Trust own$ 100% of the share in the folbwirvJ Iwo subsidiary ¢ompanies; South Hill Eststes
(Harrow) Limited, which owns manages lar¥J and roads in the Harrow area. and Orley Fami School
Enl8rp¥ises Limrted. 8olh oynwies a￿ registered in ErvJlarKI aTrJ Wales.
24

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2020
The results of the Sub￿diary companies as extracted from tr*ir audited Financial Ststements are as
follows..
South Hill
Eststes
Orley Farm School
Enterprlses
2020
2019
2020
2019
Capbtsl and reserves
32,188
31.640
Pmffit l (Loss) for Ihe year
{6.963)
A decision was made in JU￿ 2007 to subsume the actiwties of Orley Fam SCI￿1 Enlerwise5 Within
the Sch)ol. The Company became dormant Vdith effect from 1 September 2007.
10. DebtoKs
2020
2019
Fees and extras in arrears
Amount due from subsidiary company
Other debtors
PrepayTnents
108,541
11.832
10.719
111.705
48,539
8,133
11,000
99,899
242.797
167,391
11. Creditors due within one year
2020
2019
Deposts
Tax and social security
Accruals and deferred ir
Other creditors
Bank loan repayatde within one year
312.672
220.809
167.299
132.761
117.565
296,847
195
231,505
114,212
274,935
951.1C
917,694
t)eferred income consists of fees received in advance totalling £134.574 (2019- £176,588}
12. CreditoTr due in more than one year
2020
2019
Amounts repayable belween two and five yea
Amounts repayable in more than fve years
2,425,287 1.242,451
255,409 1.426.809
2.680.6* 2,669,260
The loans are unsecured and repayaile over 120 months from 31 March 201 S. The interest rates
appliCat￿e to the loans are..
LIBOR loan
Business loan
2.SOA per annum over LIBOR rAus marKlatory ￿$1
2.95°A per annum over base rate
25

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2020
13. Pension Scheme
The School participates in the Teachers. Pension Stheme (Ihe TPSI for its teaching staff. The pertsion
charge for the year indudes contributions payabk to the TPS of £587.002 (2019- £431,980) and at the
year-erMI £49,980 {2019- £Nil) was ￿Ued in resp￿1 of Contr1t￿n5 to this scheme.
The TPS is an unfunded mulb'-wnployer defined benefrts pension scheme governed by The Tea¢hws'
Pensions Regulations 2010 las amended) an¢J The Teachers, Pension Scheme Regulations 2014 {as
amended). Members contribute on a.pay as you go. basiswilh contributions from mwnbers and the employer
being credited to the Excheouer. Reti￿Ment other pengon benefits ¥e paid by public funds prowded by
Parliament.
The employer cx)ntritMJtion rate is sel by the Secretary of follo%*iro 5ftheme valuations undertaken by the
Government Actuary's Department. The most recent actuarkgl valuation of the TPS was prepared as at 31
March 2016 ano the Valuat￿￿ Repjrt, which Was published in March 2019. confirmed that the employer
conlribulion rale for the TPS in¢￿8$e from 16.4010 10 23.6% from 1 September 2019. Employers are
also required to pay a scheme &Jministration levy ofO.08% gTrwig a totsl empk)yercontribution rate of 23.68%.
The 31 March 2016 Valuation Reptrt was prepared in accord81Ke with the benefits sel wl in the scheme
regulalions and under the approach specified in the Di￿¢bOn$. as they applied at 5 March 2019. However.
the assumplions V￿re considered artd sel by the Departrnent for Educats"on prior to the ruliro in the
'McCloudlSargeant case.. This case has required the courts lo consider cases reg¥ding the imp￿Mentall0rt
of the 2015 refomis to Public Serwce Pensions induding the Texhers. Pensions.
On 27 June 2019 the Supreme Court denied the govemment pemii8sion to appeal the Court of Appeal.
judgmenl that transition81 provisions introd￿e￿ io the ￿lOme￿ penS￿n schemes in 2015 gave rise lo unlawful
age dis¢riminat¢on. The govemmenl is respecling the Courvs decision and has said it will errfJage fully with
the Employinent Tribjnal as well as employer and member representatNes to ag￿e how the diseriminations
11 be remedied. A con5ultatK¥) vras laU￿hed by the govemmenl on 16 July 2020. anil closed responses on
11 October 2020.
The TPS is sU￿.e¢l lo a C￿$1 cap mechanism which vfas wl in place to protect laxpayers against unforeseen
changes in scheme costs. The Chief Se￿etsry io the Treasury. having in 2018 announced that there would
be a review of this cost cap mechanism. in January 2019 announced a pause lo the cost cap mechanism
folowing Ihe Court of Appeal's ruling in the Mccloudlsargeant case and unlil there is certainly about the value
of pensions lo employee5 from April 2015 onwards. The pause was lifted in July 2020 and the oovemmenl is
preparing to ccrfnplele the cosi control elemenl ol the 2016 Valuati¢￿S. Ithich ts expected to be completed in
2021.
In view of the above rulings and ¢Jec1￿onS the 8ssumplions used in the 31 March 2016 Actuarial Valuation
may be￿me inappropriate. In this scenarn). a valu8tJon prepared in ￿cOrdan￿ with revised benefits and
itsbly revise(l assumpt￿5 ￿￿Ul0 yiekl drfferent resth than Ih)se contairwl in the Aclu￿.81 Valuabon.
Unb'l the consullatson and the cost cap mechanism review are comp￿ted il is not possible to conclude on any
financial impacl or futu￿ changes to the contn"bution rates of the TPS. Accordingly no provision for any
a(*lilional past benefit pension costs is included in these ffinanual slatements.

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
YeaT ended 31 August 2020
14. Unrestricted Funds
Refur
ishment
fund
General
fund
Total
funds
At 1 September 2019
Net ir￿Mir0 reSoUr￿S
ExFendItUre￿rdnSfers
Itollfrom designated fuThls
12,593.
3.0
12,593.696
3.056
(1.000,0(XJ) 1.000.000
At 31 August 2020
12.4￿.752
1,000,000 13,496.752
General
fund
Total
funds
At 1 September 2018
Nel incomirrfj resources
11,884,011 11.884.011
709,685
709.685
At 31 August 2019
12.593.696 12,593.696
Designated Funds
The Govemor5 have recortsidered the De￿gnated Funds and have agreed in line with the Charity
Commission guidance to establish the Refurt)ishment Fund to enable the SC￿1 Refurbishment Plan
which is due to tre imt4emenled the next I￿1ve to eighteen months.
1 S. Cash Flow Slate￿￿nI
2020
2019
Net Cash Infiow from Operatlng Activities
Net incoming resourees
Depreciation
Loss on disposal of fixed assets
Decrease l (I￿rease) in debto
Increase l (D￿rease) in creditLV5
Interest paid
Interest received
903,056
411,987
709.685
416.212
28.846
(75,405) (33.938)
190,782 (250.392)
91.942
106.329
(6.477)
11,7821
1,515.885
974.960
27

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Yèar ended 31 August 2020
Note 15 contirwJed.
Analysls of Net Funds
Asat
beginnlng of
year
Other
Cash Non-ca$h
flow
changes
Asat
end of
year
Net cash bala￿S
Other loans
2.377.224
(2,944.195)
1242.877
145.935
3.620,101
(2,798,2EIJI
Totsl
(566.971)
1.388.812
821,841
16. Related Party Transactions
During the year amounts totalling £11.832 (2019- £8.133} wer8 payable lo the substidiary company.
Soulh Hill Estates, Harrow Limited ￿l811r￿J to ro&1 levy charges.
Mr Peter Ryan. a teather at Ihe school. is the owner of Wodd Cup s￿rts Ltd, the company that
provided school spK)rts aclivities durirKJ hohdays. The profft share paid to the School by his company
was £12.328 {2019- £20,430>.
im. Mrs Carol Cltffe. a Se￿1 Govemorat the sclKA)l. provided teachir¥J seryices to ts Sthcol at a cost
of £1.828 (2019- Nil)
RBC London LLP provided ￿1￿lIng seThiees to the school at a cost of £Nil (2019- £2,640). The
owner of RBC Lortrjon LLP is the $Fouse of the Di￿tOr of Finance.
A Govemor, Mr A Land, receives a fee th'5count of 20% in line with the discount offered to other
Harrow SclKx)l Teache￿.
28