## **ORLEY FARM SCHOOL TRUST** 

## **(A Registered Charity and a Company Limited by Guarantee)** 

**Registered Company No: 00628541** 

**Registered Charity No: 312637** 

## **ANNUAL REPORT OF THE GOVERNORS AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED** 

**31 AUGUST 2024** 



ORLEY FARM SCHOOL TRUST
CONTENTS
Page
Charity Infomiation
Annual Report of the Govemors
4-14
Independent Audltor'5 Report
15-17
Statement of Financlal Actlvities
18
Balance Sheet
19
Cash Flow Statement
20
Accountlng Policies
21-23
Notes to the Flnanclal Statements
24-30

ORLEY FARM SCHOOL TRUST
CHARITY INFORMATION
Governors
The Governors are members of the Governing Body, are the Charity Trustees and are the Directors of the
Company for Companies Act purposes. The Govemors who have served during the year and since the
year end are indicated below. Alongside each Governor are details of the subcommlitees on which they
serve.
Dr M Short
Mr M Andrews
Mrs C Cliffe
Mrs K Gater
MrCJHa
Mrs S Kotharl
MrA Land
Mrs T Lashkari
Mrs L Malde
Mr C Shah
Mr A Sofat
Chair,
Est
EC
FB
Est
Est
MC
Est
(FBC) Chair of Full 8oard
(FB) Member of Full Board
(EC) Chair of Education Committee
(E) Member of Education Committee
(FC) Chair of Finance Committee
(F) Member of Finance Committee
(Estc) Chair of Estates Commiltee
(Est) Memb8r of Eslates Committee
(R) Member of Remuneratlon Committee
(S) Member of Strategy Sub Committee
(MC) Chalr of Marketing Commlttee

ORLEY FARM SCHOOL TRUST
CHARITY INFORMATION
Officers
Headmaster
Mr T G Calvey
Director of Finance
Mr D Prince
Director of Operations and Clerk
Mr J Shakespeare
Principal Addres5
and Reglstored Offlce
South Hill Avenue
Harrow-on-the-Hill
Middlesex
HA13NU
Advlsors
Bankers
Natwest
1-9 St Ann's Road
Harrow
Middlesex HA11 EB
Solicitors
Harrison Clark Rickerbys Limited
Ellenborough House
W811ington Street
Cheltenham GL50 1YD
AuditOT
Crowe UK LLP
R+ Building
2 Blagrave Street
Reading
RG1 1AZ
Insurance Brokers
Marsh Education Practice
Capital House
1-5 Perrymount Road
Haywards Healh
West Sussex RH16 3SY

**ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2024** 

## **ORLEY FARM SCHOOL TRUST** 

The Governors present their Annual Report, including their strategic report, for the year ended 31 August 2024 together with the audited Financial Statements for the year, and confirm that these comply with the requirements of the Companies Act 2006, the Governing Instruments of the Charity and the Statement of Recommended Practice, Accounting and Reporting by Charities ("FRS 102 SORP"). 

## **Reference and Administrative Information** 

Orley Farm School Trust (the Trust) is a company limited by guarantee registered as company number 00628541. The Trust is also registered with the Charity Commission under charity number 312637. The Governors, executive officers and principal address of the Charity are listed, along with particulars of its professional advisors, on pages 2 and 3. 

## **Structure, Governance and Management** 

## **Governing Instruments** 

The Charity is governed by its Memorandum and Articles of Association, which date from 1959 and were substantially revised in 2004. 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 Charity, have complied with the duty in s.17(5) of the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant sub-sector guidance concerning the interpretation of the Public Benefit requirement under that Act. 

## **Governing Body** 

The Board, detailed on page 2, is a self-appointing body with one exception being the Headmaster of Harrow School who is a member by virtue of this position. Service on the Board is for a term of three years which may be renewed no more than twice on retirement. The Chair is elected to serve for five years which may be renewed once only. The current Chair as elected by the Board commenced their tenure from 1 **st** September 2023. 

## **Trustee Recruitment and Training** 

The Charity's elected Governors are appointed at Board meetings on the basis of nominations received from members of the Board and others, based on specifications concerning sympathy with the Charity's objects, eligibility, personal competencies, specialist skills and local availability. New Governors receive induction in respect of Board Policies and Procedures, in addition to familiarisation with current Strategic and Financial Planning. Following their appointment Governors are made aware of specialist training opportunities by the Clerk as appropriate and they are encouraged to attend relevant training courses especially those organised by AGBIS and ISBA of which the School are members. Governors receive ongoing training, such as safeguarding and many undertake their own continuous professional development in their specialist areas. 

## **Organisational Management** 

Orley Farm School Trust Governors, as the Trustees of the Charity, are legally responsible for the overall governance and control of the School. To discharge this duty they meet as a full Board at least three times each year. The work of implementing most of their policies is carried out by three committees which have agreed, and annually revised, Terms of Reference to assist their functionality. These committees are as follows: Education Committee, Estates Committee and Finance Committee. Further subcommittees may be constituted as required. 

The operational management of the School is delegated to the Headmaster, who together with the Director of Finance and Director of Operations is supported by a Senior Leadership Team and a Senior Management Team. The Headmaster attends meetings of all of the above committees. The Director of Finance attends the Finance Committee, Remuneration Committee and the Board Meetings. The Director of Operations attends the Estates Committee, Health & Safety Committee and the Board Meetings. The Deputy Heads attend Education Committee and Board Meetings. 

4 



ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Organlsallonal Management (contlnued)
The School, through its officers, is repres6nted in a number of organisations indudlng the Association of
Governing Bodies of Independent Schools. the Independent Association of Preparatory Schools (IAPS),
AGBIS and the Independent Schools Bursars, Association (ISBA).
Group Structure and Relatlon8hlp8
The Charlty has two wholly-owned non-charitable subsidiary companies, whose 8Ctlvities are explained
below.
South Hlll Estates Harrow Llmited (Registered in ErvJland as Company Number 109974)
South Hill Est8tes Harrow Ltd was incorporated in 1910 and is limited by shares. The Trust is the beneficial
owner of the whole of the share capital of the Company which owns roads on the South Hlll Estate, and the
benefit of certain covenants relatlng to privately-owned residential and Other properties on this Estate. The
Directors include members of the Trusfs Full Board commtttee. the Director of Operations and up to bNO
residents of South Hill Estst6s. The Companls assets arKI transactions in the year are not cons5dered
material, therefore the Govemors consider it is not appropriate to prepare consolidated accounts of the Trust
and Its subsidiary. Copies of the subsidiary's accounts are made available to the Governors of Ihe Trust.
Orloy Farrn School Enterpr1505 Llmlted {Reglstered in England as Company Number 5345071)
The Company was made dormant on 1 It September 2007 and will remain dormant unt51 such a time as the
level of trading activity within the Trust necessitates Its management by a subsidiary company or when the
Trustees elect that this be so.
Rlsk Management
The Board of Governors Is responslble for Identlfying the key risks faced by the School and for ensuring
these rlsks are managed. Each year the Senior Leadership Team and the Finance and Estates Committees
Identify and assess risks and implement controls to mitigate against these. In addltion. each year a formal
review of the rlsk management process is undertaken. The major risks have been identified as those of the
Impact on the School roll of the imposltion of VAT on independent school fees and th8 removal of Business
Rale Rell8f.
The key controls implemented by the School are as follo￿.
Formal agendas for all Board and Committee activities;
Comprehensive strategic plannlng, budgeting and management accountlng;
Establlshed organisational structure and understood lines of reportlng,,
Formal written policies;
Clear, authoritative and agreed approval18vels,' and
The appointment of suitably qu81ified professional advisers-
Through the established systems for managing rlsk, the Govemors are satiSf￿d that for the major risks
Identified steps have been taken to manage these risks. It is. of course, recognised by the Governors that
systems can provide reasonable but not ab801ute asSUrar￿￿ tr￿t major risks have been adequately
managed.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Objects. Alms, Objectlves and Activities
Charitabl8 Objects
To advance the education of boys and girls by Ihe provision of a school knovm as Orley Farm School Trust
in Harrow-on-the-Hill, and any other boarding school or day school for the education of boys and girls and
by ancillary or incidental educational activilies and other associated activities for the benefit of the
community.
Alms and Intended Impact
Within these objects, Ihe School alms to be a leading co4ducational preparatory school for children aged
be￿een 4 and 13 years old, by bulldlng on Ihe strategies as stated in the 'Whole School Aims, which are
summarised below, the full lext being published in the School's prospectus and other media.
Whole School Alms
The School aims lo provide a challenging envlronment to stimulate. maintain and develop a lively and
enquiring mlnd.. to encourage all pupils to reach their true potential and eventually become independent
learners who value learning with and from others, as a life-long process.
We aim to appoint. develop and retain a staff of the highest quality and to develop a school community of
responsible citizens, which affords equal value to all of its m6mb8rs. is seen to be just and encourages
mutual respect, truthfulness and concern for others.
While carrying out our charitable purpose-the provision of education-we aim to deliv8r substantial ben8fit
to all stakeholders, including our local communities, through the provision of an excellent and broad
education and through access to our s8rvic6s, faciliti6s and expertise.
Impact and Responslvanass
In accordance with our Governing Instruments. we continue to provide education for children aged 4 to 13
years such provision relieving the state of relevant costs. In addition, the School continues to provide
bursary support for current and new pupils. The School contlnues to build on the links with a wide section
of the local community.
Key Elements of tho School's Strategy
The School faces new and evolving educalional, legislalive, economlc, environmental. demographic and
social challenges. To respond to Ihem positively and lo enable Orley Farm School to head towards its 200th
anniversary with confidence there must be equally caTeful planning. These Strategic Priorities and the
School Development Plan are designed to set the destinatlon and the broad outllne of the journey. The
Board of Governors and Senior Leadership Team intend that Orley FaTrn School..
Continues to be one of the leading co-educational day schools In London;
Will provide quality education and pastoral care for boys and girls in the 4-13 years age range,.
Will remaln a preparatory school with a strong record of success in preparing pupils for entry to
their senior independent schools;
Continue to be blessed with a magnificent sile and malntain an excellent range of facilities; and
Bulld on its long and distinguished history.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Key Elements of the School's Strategy (contlnu8d)
The Board of Governors continues to oversee the pursuit of the School's strategic priorities and the
maintenance of its profile and reputation as the leading Prep school in NW London. These are reviewed
regularly through the work of the Board and its Committees. The Governors intend that the School will:
Remain a preparatory school providing quality education and pastoral care for boys and girls.
Continue to recruit on the basis of academic potential alone and the School will continue to
develop its bursary funds to give true effect to this aim;
Continue to prepare boys and girls for entry to independent senior schools - wilh the aim that
boys, and increasingly girls. will transfer at 13+; currently most girls Iransfer at 11 +;
Continue to plan with the aid of profess5onal advisors, the further development of the estate In
order to provide ex￿lIent buikjings and facilities that support an outstanding educational
provision;
Develop and enact an ICT Strategy. a Communications Strategy and an Outdoor Education
Strategy; and
Contlnue to develop a Leadership and Development Programme for staff.
Continue to develop the Orley X programme.
The Governors measure the success of this strategy through a comprehensive review of the annual strategic
school developrnent and management action plans, and through the termly reporting of key performance
measures prodU￿d by senior managementforthe Board to discuss. Ad hoc subcommittees are established
to focus cross-governancelmanagemenl effort on areas of interest, opportunity and concern.
Strat Ic Re
ort: Revlew of Ob
ectlves lor the
ar Achiovements and Performanc
Ob'ective 1: Maintaln th8 excellence of the educational
rovision throu
hout the S h
The educatlonal excellence at Orfey Fami School was rewarded with the granting of 31 scholarships to
senior schools, of which a total of 16 were taken up by our pupils. Highllghts include 15 Academic
Scholarships and 16 awards across a breadth of Sport Scholarships, Drama, Music and Art includlng 2
STEAM scholarships.
Ob'ective 2: Continue buildin
relationshi
with local schools.
Orley Farm School continues to develop posltive partnerships with a number of local schools in Harrow wlth
various initiatives including lending outthe School minibuses, inviting Grange Primary School pupils towatch
our Christmas and Summer matinee productions, hosting Science and Maths afternoons for Welldon Park
School pupils, and running Art workshops with Alexandra School.
In addltlon, during the year, the School hosted 'Our World Sports Afternoons, with Grange Primary School
and the 'DC Beagle Maths Challenge, event with over 20 local schools participating. The school visited our
partner schools to see the Impact of the projects from the previous year, and these formed a series of
assamblies to Orley pupils.
Ob'ective 3., Continue the review of our
oIiGies and
rocedures to ensure total re
ulato
com
liance.
School pollcies and procedures continue to be regularly reviewed to ensLtre regulatory compliance with
frequently changing regulations and educational requirements. These policies are reviewed by staff and
presented at the relevant committee meetings for Governors approval.
Ob'ective 4: Contbnue to develo
the School Orlumni.
With the support of a former parent and School Govemor. the principal objective of the Orlumni is to bring
together former Orleyans and parents to enrich our current community through events hosted at the School.
During the year, the School successfully hosted multiple Orfumni events and released quartedy digital
Orfumni magazines.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Ob'ective 5: En
re the
rovision of IT continues to
eet the academic and buslness needs of the school.
The School continues to develop and invest In Its IT infrastructure to support both pupils and staff. The
School holds the Cyber Essentials Certification which comprises a detailed self-assessment questlonnaire
along with vulnerability scans to verify the School's external security status, as well as the integrity of its
network, PCS and mobile devices.
The School has invested in virtual reality headsets and successfvlly integrated theSr use within ICT lessons.
IT platforms are regularly reviewed to ensure they remain up-to-date and deliver an intuitive and easy user
experien￿, whi15t the School's remote learning platform continues to be intograted across its educational
provlslon.
Teachers have devices that connect to classroom whiteboards and senior puplls In Years 7 & 8 also have
devices that allow collaborations using teacher-pupil platforms.
ective 6: Contlnue to
ositivel
ider communit to best effect.
mana
e the relationshi
s with the School's nei
hbours tenants and the
The School continues to develop the working partnership with South Hlll Estates, Harrow Ltd and the
residents of the estate via the South Hlll Estates Board.
The School has provided free use of its facilities through its partnership with the Young Harrow Foundation
for social events. Trustee meetings and training events. The School further supported Journey of a Lifetime,
a small volunteer charity whlch aims to enrich the lives of young people wlth sSgnificant disadvantages by
organising expeditions all over the world, by IK)Sting their traSnlrvJ workshops over the course of
weekends.
've 7., Continue to mana
and Ihe wSder school communi
ethes h
to b8St effect
education
rovision estate and r8S
The School's aims are based on the three pillars of 'Academic Life,, 'Pasloral Life, and 'LSfe Beyond,.
Academic Life - To provide a creative, balanced, stimulatlng and unique currlculum which encourages skllls
and pushes mastery of knowledge, allowing everyone to explore their learning in a safe envlronmentthat
values progress and growth through both success and failure.
Pastoral Life - To provide opportunities to develop socially, emotionally, locally and globally and to be
refleclive, responsible and self-aware, embracing the school's values in order to lead heaSthy, happy and
fulfilllng lives.
Life Beyond - To create broad opportunities, both in and out of the classroom, that develop a range of
individual and collaborative interests, including sport. music, drama and the arts that will fuel enthusiasm for
learning and offer life choices well beyond our time at Orley Farm.
The School continues to develop its after-school programme. Orleyx. following a successful pilot. The aim
of this programme to address the growing dernand for after-school activities allowing pupils to learn new
skills and participate in physical activity whilst remaining on school premises.
Ob
ective 8.. Enact the Eststes Strate
toim
essential
ro'ects includin
continuin
rove the School's infrastructure
articularl focusin
rbishin
andu
datin
the outdoor
la
ac
onke
an
During the year a number of infrastructure projects Y￿re undertaken to enhance the school slte. These
projects included enhanc8d security surrounding Ihe Oakmead Building and access to the staff car park and
playing fields. drainage works in the meadow area, installation of new cricket netting and conversion of
storage room into a multi-use room for meetings, breakout area and match teas. The School has been able
to teach sport, beyond the school day in winter months, due to the use of new temporary floodlights.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Ob'ective 9: Continue to develo
the School's Master Plan with a Governor led strate
committee.
The School is developing a 'Masterplan' to scope and service the future needs of the School for the coming
decade. The principal aim is to combine the School's short, medium and long-term objectives into a cohesive
plan to ensure that future developments reftect and enhance the educational phllosophy of the School in
line with the three pillars of school Ilfe.
Before the pandemic. the school idenlified untapped opportunities to further develop the physical growth of
all ages through sport. r8cr8ation and outdoor educalion., post pandemic this ha5 gained an added relevance
through developing social and collaborative opwrtunitie5, both during and after the school day. Faciliti8S
are being reviewed to best support this agenda.
The School is also keen to ensure that we consider the wider community In any development of facilitles.
creating partnerships wilh local primary schools so that we maximise the impact both in and beyond Orley
Farm.
During the year an Estates Condition Surwey was completed to inform and develop parts of the School's
wlder Masterplan.
Ob'ective 10: To conduct due dili
offerin
at the Schoot,
ence on the creation and hased im
lementation of an outdoor curriculum
Followlng th8 successful completlon and evaluation of a pilot outdoor curriculum offering, the School has
created a Meadow Schwl that is now being Implemented as part of the curriculum for all Pre-Prep pupils.
Due to the posltlve Impact on mental health, physical growth and concentratlon, the School has extended
this programme into Mlddle School.
Ob'ective 11: To dev810
a Marketin
Strate
The School has assigned a Governor to lead on the development of a marketing strategy with the alm of
reviewing all aspects of its marketing, exploring new marketing opportunities and promots'ng its educational
reputatlon amongst current and prospective families.
A new Marketing Committee, whlch the lead Governor will chair, has also been set up with termly meetings
commencing in the 2024125 academic year.

ORLEY FARM SCHOOL TRUST
ANNUAL REPORTOF THE GOVERNORS
Year ended 31 August 2024
Pupll destinatlons and Scholarshlp Awards In 2024
Pupils 0ft8n apply for, and are awarded, scholarships for more Ihan one school. On these occasions, only
the scholarship for their future school is accepted.
Boys".
Destlnatlon
School
Number of Puplls
Scholarshlps Awarded
Berkhamsted Boys School
Haberdashers. Boys
Harrow School
John Lyon School
Merchant Taylors. School
st Alban's School
St Benedict's Eallng
St Margaret's Bushey
Westminster
TOTAL
30
10
Girls:
Destlnatlon
School
Number of Pupils
Scholarshlps Awarded
John Lyon School
Haberdashers. Girls
North London Collegiate
Notting Hill & Ealing
Northwood College
Nower Hill High School
Pinner Hlgh School
Royal Masonic School
St Helen's School
St Margaret's School, Bushey
South Hampstead High School
Whitmore High School
TOTAL
24
21
10

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Financial Review and Results for the Year
Orley Farm started and maintained a strong pupil roll during the year.
The year has however been presented with a host of challenges and uncertainty for the Orley Farm
Community particularly in the face of significant inflationary pressures across all operational expenditure
and the cost of living crisis. The Governing Body were well aware of the ongoing uncerlainty facing many of
our parents as the impact of the pandemic and economic landscapes unfolds and continued to offer the
Hardship Support Scheme.
The focus for the School is to prioritise key and ess8nlial infrastructure project5 around the school site.
Throughout the year the School has undertaken a number of projects to enhance the school site, this
Includes undertaking a comprehensive stock condition suNey to inform the Governor5 and management in
finalising the School's masterplan, drainage works across our meadow area, an additional security gate at
the Oakmead entrance and Instslling portable kghling in the vicinity of the School Astro.
The School generated net lee income of £8,912,948 (2023 - £8,463,511). which was the primary source of
revenue. Whllst the School generates additional income in the fom of lettings income and rents, the
overrldlng primary source of income is derived from pupil fees. The operating costs for the year were
£8,285,316 (2023 - £7,833,460). This expenditure has been closely monitored and the School continu8S to
adopt a cautionary approach to spending as a result of the inflationary pressures namely in relation to wages
and electricity and gas and this in tum has allowed School to generate surpluses that can be reinvested into
the School's key and essential infrastructure projects. whilst meeting its financial obligations. The surplus of
£1,279,031 (2023: Surplus of£1,043,107) generated within the yearwill place the School in a strong position
to embark on the delayed key and essentlal infrastructure projects which are now seen as a priority for the
School which include the development of the play areas in and around the school 51te, refurbishment of the
School's Astro fleld, and refurbishment of tha school's properties and its outdoor provisions that will fom
part of the School's Masterplan.
The School has moved away from the Government Teacherfs Penslon Scheme and entered Into a Defined
Contribution Scheme from March 2024 for our teachers.
The Board of Governors are confKlent that the School's financial siluallon is in a sound position which wlll
enable the School to manage any potential impact on pupil numbers from the proposal to Impose VAT on
independent school fees from January 2025 and the removal of Business Rate Relief. The landscape for all
independent schools is changlng rapidly and the Board of Governors Is commltted to mainlalning the
excellent education for all of its pupils by careful management of resources and by working closely with the
leadership team to respond quickly and ihoughtfully to all challenges and by balancing the interests of all
stakeholders.
There has been no outsourced fundraising via professional fundraisers or other thlrd parties. The charity is
not registered wlth the fundraising regulator and received no fundraising complaints in the year.
Freehold Propertles
The School ovffls 4 residential properties which continue to generate income for the school. Income
generated from property. including school lettings. this year was £196,957 (2023 - £191,885).
11

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Extra4urrlcular A¢tlvltles
Our extra-currlcular programme continues to be built around our weekly programme of lunchtime and after
school clubs, subject to government guldellnes and this has been 8Xtended following the creation of the
Orleyx programme. The annual Expeditions Week continues to thrive.
Publlc beneflt
As required by the Charities Act 2011, the Governors have referred to the general guidance on public benefit
and have due regard to the Charity Commission's guidance on public benefit, including the guldance 'Public
Benefit.. Running a Charity {PB2)'.
As part of our public benefit. we co-operate with a range of local charities in our ongoing endeavours to
widen public access to the schooling we provide: to optimise the educational use of our cultural and sporting
facillties and to awaken in our pupils an awareness of the wider social contexi of the education they receive
at the School. We are proud of the community links we have developed and continue to develop as Ilsted
below and we always look to strengthen these in line with the Charity Commission's guide to public benefit.
Partnershlp wlth Grange Prlmary School. The School conlSnues to support Grange School. Thls
support has included providing transport and invitations to drama productions, providing access to the
School rninibuses, donatlng to their school at Christmas, and, as part of the School's 'Our World.
project, donating books and book review guldes produced by our pupils.
Partnershlp wlth Welldon Park. Th8 School hosts a number of Sclence arKI Maths workshops for
puplls of Welldon Park across the academlc year.
Partnershlp wlth Alexander School. The School runs a muslc club at tha Alexander School each
Friday lunch through our Edge Programm8. and hosts Art lessons at our School for some of thelr
pupils. In additlon, the School pald for the costs of a basketball club coach and donated litter plcklng
equlpment.
Use of School Facllltles. St Dominic's College make use of our sports fields which include crlcket
pitches, astroturf and soccer pitches. The School also supported Journey of a Lifetlme, a small
volunteer charity whlch aims to enrich the lives of young people wSth signltlcant disadvantages by
organising expeditions all over the world, by hostlng thelr training workshops over the course of two
weekends free of charge. In addition. the School provided the Young Harrow Foundatlon charity with
fr88 use of its facilities for some of t￿fi1r meelings and tralning events.
Work Experlence. The School continues lo offer work experfence placements to students from
various colleges whereby some students gain sports coaching experien￿.
Harrow Cricket Club. By continuing to subsldlse the overheads of Harrow Cricket Club, over iwo
hundred youth cricketers and a number of adult teams from the wider communlty have access to the
sport. The junior colt's teams also make use of the sports hall during wlnter months In support of their
expanding junior cricket programme.
Charltable Giving. The school has raised £20,162 for the Imperial Health Charity. In addition, the
school donated books to 4 local schools, food items to Harrow Food Bank, IT equipment to two
churches, and supported 'Firm Foundation,, a local homeless charity, and 'This Girl Can,, a nationwide
campaign to encourage women and girls to get involved in physical activity, regardless of shape. size
and ability, by donating welfare packs.
Young Harrow Foundatlon. The school made a donation of £10,000 the Young Harrow Foundation
Changemakers Fund. This Foundatior) is a membership charity supporting voluntary organlsations in
Harrow to increase partnerships and other opportunities in the community.
Fee Support. This year we supported a total of 6 pupils at a cost of £83,053 (2023: 5 pupils £39.426)
through our own Fee Support Scheme and our Hardship Support Scheme.
12

ORLEY FARM SCHOOL TRUST
ANNVAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Plans for Future Periods
Thes6 plans remain..
To continue to enhance Ihe School's Estates Strategy so as to enhance the education and
opportunities for all pupils;
To enact our financial plans in support of the EsLqtes Strategy; and
To enact the School's other development plans upon completion of the School's Masterplan.
Objectlves for 202412025
Maintain the excellence of Ihe educational provision throughout the School;
Coniinue building relalionships with local schools.
Continue the review of our policies and procedures to ensure total regulatory compliance;
Conlinue to develop the School Orlumni;
Ensure the provision of IT continues to meet the academic and business needs of the school.
Conlinue to positively manage the relattonships with the School's neighbours, tenants and the
wider community to best effect;
Continue to manag8 the School's education provi51on, estate and responslbillty to pupils, staff
and the wider school community to best effect.
Enact the Estates Strategy to improve the School's infrastructure. particularly focusing on key
and essential projects including continuing refurbishing and updating the outdoor play spaces;
Governors will focus on managing th8 impact of any financial implications which may arise
from political and economic factors outside the School's control to ensure that it will continue
to thrive in the future., and
10. To develop a Marketing Strategy.
Reserves Pollcy
The total resenies for the Schoolwere £18,072,630 of which £2,000.000 related to designated funds, leaving
£16,072,630 of free resepies. The ReseNes Policy of the School takes into account a number of parameters
such as...
Rlsks included in the School's risk regisler
The School's objectives; and
The current and future obligations of the School, including any commitments that it has already
entered into.
Based on their assessment. the Governors consider that the mlnlmum largeted level of reserves deslred Is
working capital at the level of six month's expenditure. The Govemors will keep Ihe current reserves policy
under review during the next academic year, whilst also continuing to strive to generate funds in line with
minimum targeted levels
The Governors wlll review the reserves pollcy on an annual basls.
Remuneratlon Pollcy
The Remuneration Committee are tasked with reviewing remuneration, including Key Management
Personnel, on an annual basis. Consideration is gwen to the current market conditions, performance and
objectives set at the beginning of each academic year.
13

ORLEY FARM SCHOOL TRUST
ANNUAL REPORT OF THE GOVERNORS
Year ended 31 August 2024
Golng Concern
Th8 Governors are aware that cash is Ihe most important driving factor wh8n setting future budgets. The School's
cash position has been stress-tested by the Govemors using various scenarios including conservatlve estimat8
of pupil numbers and rising costs. FollowSng these test, the Board is content that the School wlll remaln a golng
concern and can meet its ongoing obligations for a period of 12 months from when these accounts are signed.
Responslbilitles of the Governor8
The Governors (who are also directors of Orley Farni School Trust for the purposes of company law) are
responsible for preparing the Report of Ihe Governors (including th6 Strategic Report) and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practs'ce).
Company law requlres the Governors to prepare financlal statements for each flnancial year, which give a
true and falr vlew of the stste of affairs of the charltable company and of the incoming resources and
applicaiion of resources, Including the income and expenditure of the charitsble company for that period. In
pr8paring these financial statements, the Govemors ar8 requir8d to:
select suitable accounting pollcles and then apply them consistently.
observe the methods and prinaples in the Charities SORP (FRS 102);
make judgements and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject lo any
material departures dSsclosed and explained in the financial statements,,
prepare the financial statements on the going concem basis unless il is inappropriate
to presume that the charitable company will continue in operation.
The Governors are responslble for keeplng adequate accouniing records that disclose wlth reasonable
accuracy at any time the financial positlon of the charitable company and enable them to ensure that the
financlal statements comply with the Companles Act 2006. They ar8 also responsible for safeguardlng the
assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of
fraud and other irregularities.
In so far as the Governors are aware:
there Is no relevant audlt infomiation of which the charitable company's auditor Is unaware; and
the Governors have taken all steps that they ought to have taken to make Ihemselves aware of any
relevant audit informats.on and to establlsh that the auditor is aware of that infomation.
Audltor8
Crowe UK LLP has signified its wlllingness to continue in office as auditors.
A resolution proposlng thelr re-appointment will be submitted at the Annual General Meetlng.
OLlIl
Approved by the Board of Govemors of Orley Farm School Twst on ..
behalf by:
2024 and signed on its
DrMEShort
Chair
14

ORLEY FARM SCHOOL TRUST
INDEPENDENT AUDITOR'S REPORT
Independent Audltorfs Report to th? Membors of Orley Farni School Trust
Opinion
We have audited the financial statements of Orley Farni School Trust ('the charitable company.) for the year
ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the
statement of Cash Flows and notes to the financial statements, including significant accounting policies.
The financial reporting framework that has been applied in their preparation is appllcable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practlce).
In our opinion the financial ststements:
give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its
income and expenditure, for the year then ended;
hav8 been property prepared in accordance with United Kingdom Generally Accepted Accountlng
Practice; and
have been prepared in accordance ￿1th the requirements of tt)e Companies Act 2006.
Basls for oplnlon
We conducted our audlt in accordance wlth International Standards on Auditing (UK) (ISAS (UK)) and
applicable law, Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are Independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the financial
statements In the UK, IncludSng the FRC'S Ethical Standard, and we have fulfilled our other ethical
responslbillties In accordance with these requirements. We belleve that the audit evidence we have obtained
is sufficient and appropriate to provide a basls for our opinion.
Concluslons relatlng lo golng ¢on¢•rn
In auditing the flnanclal ststements, we have concluded that the trustee's use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any materlal uncertaintles relaling to events
or conditions thai, individually or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least I￿e1ve months from when the financial statements are
authorlsed for issue.
Our responsibllltles and the responsibllitles of the trustees with respect lo going concern are described in
the relevant sections of this report.
other Inforniatlon
The trustees are responslble for Ihe other informatlon contained withln the annual report. The other
Information comprises the Information included in the annual report, other than the financial statements and
our auditorfs report thereon. Our opinion on the financial statements does not cover the other Information
and, except to the extent otheNise explicitly stated in our report, we do not express any form of assurance
condusion thereon.
Our responsibility Is to read the other Info￿natIon and, in doing so, consider whether the other infomiatlon
is materially incon5iStent with the financial statements or our knowledge obtained in the audit or otherwlse
appears to be Material￿ misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed. we conclude that there is a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
15

ORLEY FARM SCHOOL TRUST
INDEPENDENT AUDITOR'S REPORT
Oplnlons on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
the information given in the trustees, report. which includes the directors, report and the strategic report
prepared for the purposes of company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements; and
the strategic report and the directors. report included within the trustees. report have been prepared in
accordance with applicable legal requirements.
Matters on whlch we are required to report by exceptlon
In light of the knowledge and understanding of the charitable company and their environment obtained in
the course of the audit, we have not identified material misstatements in the strategic report or the directors,
report included within the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion-
adequate and proper accounting records have not been kept: or
the financial statements are not in agreement with the accounting records and returns,, or
certain disclosures of trustees. remuneration specified by law are not made; or
we have nol received all the information and explanations we require for our audit
Responslbllitles of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors
of the charitable company for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view. and for such internal control
as the trustees 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 charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
Audltor's responslbllltles for the audlt of the flnanclal ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and lo issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Details of the extent to which Ihe audit was considered capable of detecting irregularities, including fraud
and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: vMw.frc.o
.uklauditorsres
onsibilikn'es. This description forms part of our
auditor's report.
16

**ORLEY FARM SCHOOL TRUST** 

**INDEPENDENT AUDITOR'S REPORT** 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. 

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014. 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non­ compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non­ compliance with all laws and regulations. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those 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. 

**Janette Joyce** Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 

R+ Building 2 Blagrave Street Reading RG11AZ 

Date: 3 December 2024 

17 



ORLEY FARM SCHOOL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
{Incorporatlng an Income and Expenditure Account)
Year ended 31 August 2024
2024
2023
Note
Income from:
Charltabl8 Actlvltles
School fees recaivabla
ReglstraÉion fees
Ancillary income
Other income
8,912,948 8,463,511
16,071
18,200
232.173
97,815
221,614
235,198
28
Investments
181,541
61,843
Total Income
9,564,347 8,876,567
Expendlturo on:
Ralslng funds
Financing costs
13,864
93,168
Charltable Actlvltles
Anclllary costs
Primary educational costs
2b
133,385
67,881
8,138,067 7,672,411
Total Expendlture
8,285,316 7,833,460
Net Income and Movements In Funds for the Year
13 1,279,031 1,043,107
Balance at beglnnlng of year
16,793,599 15,750,492
Balance at End of Year
18,072,630 16,793,599
All of the activities of the School are continuing. The School has no recognised gains or losses other than
as stated above.
All income and expenditure was unrestricled in both years.
The Accounting Policies and Notes on pages 21 to 30 form part of these Financial Statements.
18

**BALANCE SHEET At 31 August 2024** 

## **ORLEY FARM SCHOOL TRUST Company Number: 00628541** 

|**Fixed Assets**|**Note**||**2024**||**2023**|
|---|---|---|---|---|---|
||||£||£|
|Tangible fixed assets|7||12,435,995||12,887,443|
|Investments|8||20,950||20,950|
||||12,456,945||12,908,393|
|**Current Assets**||||||
|Debtors|9|223,883||200,260||
|Cash at bank and in hand||6,257,757||5,060,532||
||||6,481,640||5,260,792|
|**Creditors:**due within one year|10||(865,955)||(1,177,130)|
|**Net Current Assets**|||5,615,685||4,083,662|
|**Creditors:**due in more than one year|11||||(198,456)|
|**Net Assets**|||**18,072,630**||**16,793,599**|
|**Unrestricted Funds**|13|||||
|General fund|||16,072,630||15,398,550|
|Designated Funds:||||||
|Building Refurbishment fund|||2,000,000||1,395,049|
||||**18,072,630**||**16,793,599**|



Approved and authorised for issues by the Board of Governors on .. l.l. 2024 and signed on its cf?.:: . k. ..... behalf by: 

**Dr ME Short** 

Chair 

**Mrs S Kothari** 

Chair of Finance Committee 

The Accounting Policies and Notes on pages 21 to 30 form part of these Financial Statements. 

19 



ORLEY FARM SCHOOL TRUST
STATEMENT OF CASH FLOWS
Year ended 31 August 2024
2024
2023
Nots
Net Cash Inflow from Operating Activities
14
1,431,164
1.612,213
Cash flows from Investln
Actlvltles
ments to acquire tan
Sa
es proceeds of tangible fixed assets
Interest received
Interest paid
(31,201)
1,900
181,541
(190,711)
3,000
61,843
Net Cash Inflowl
Investlng Actlvlt
Outtlow) from
es
152,240
(219.036)
Cash flow Irom Flnanclng Actlvltlès
Loan Repayment
(386,179)
(1,962,602>
Increasel(Decrea8e) In cash In the year
14
1,197,225
(569,425)
Reconclllatlon of Net Cashflow to
Movement In Net Funds
IncreaselDecrease in cash in the year
Net decrease In bank loan
1.197,225
386 179
(569,425)
1962 602
Change in funds resulting from cash flows and 14
Movement in net funds in the year
Net funds at beginnlng of the year
Net Funds at End of the Year
1,583,404
1,393,177
4 674 353
3281176
14
6 257 757
4 674 353
The Accounting Policies and Notes on pages 21 to 30 form part of these Financial Statements.

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Year end8d 31 August 2024
Basls of Accountlng
Orley Fann School Trust is a charitable company in the United Kingdom. In the event of the charity being
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 information on page 3 of these financial statements. The nature
of the charity's operations ar￿ principal activltles is the operation of Orley Farm School.
The charity constitutes a public b8nefit entity as defined by FRS 102. The financial stat8ments have b88n
prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102), the Flnanclal Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and
UK Generally Accepted Practice as il applies from 1 January 2019.
The financial statements are prepared on a going concern basls under the historical cost convention,
modified to include certain items at fair value. The financial Statements are prepared in sterling which is the
functlonal currency of the charity.
The Govemors have assessed whether Ihe use of the golng concern basis Is appropriate and have
considered possible events or conditions thal might cast slgnificant doubt on the ablllty of the School to
continue as a going concern. The Govemors have made this assessment for a perlod of at least one year
from the date of approval of th6 financial statements. In particular the Governors have consldered the
School's forecasts and projections and have taken account of pr8ssur8s on fee incom8, particularly in light
of the impact of the current economic uncertainty including the inflationary cosl pressures and the exposure
to slgnificant increas8s in utility costs, before these financial statements were approved and is explained in
more detail in the Risk Management section of the Govemors Report in these financial statements. After
making enqulries the Governors have concluded that there is a reasonable expectation that the School has
adequate resources to continue In operational exislence for the foreseeable future.
As such the School can expect to be able to meet its liabilities as they fall due in the period of at least 12
months from the date of approval of these accounts. However, there can be no certainty In relation to these
matters. On this basis the Governors have concluded that the School is a going concern. The financlal
statements do not include any adjustments that would result from the School not being able to meet its
liabilities as th6y fall due.
The slgnlficant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless othemise stated.
The Trust is th8 beneflc5al owner of the whole of the share capital of South Hill Estates Ltd. Th8 Company's
assets and transactions in the year are not considered material, therefore the Governors consider it is not
appropriate to prepare consolidated accounts of the Trust and its subsidiary.
Cash and cash equlvalents
Cash and cash equivalents include cash at bank and In hand.
Judgements and key sources of estlmatlon and uncartalnty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the
amounts reported for revenues and expenses during the year. However, the nature of estimation means
that actual outcomes could differ from those eslimates The judgements (apart from those involving
estimates) that have had the most significant effect on amounts recognised in the financial slatements
related to the useful economic lives of tangible fixed assets.
21

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Year ended 31 August 2024
Income
All incoming resources are included in the Ststement of Financial Activities (SOFA) when the School is
legally entitled to the income, after any perfomiance conditions have been met, when Ihe amount can be
measured reliably and when it is probable that the income will be received.
Fees receivable and charges for services and use of premises are accounted for in the period in which the
service is provided. Fees received prior to the end of Ihe year in respect of the following tems are shown
on the balance sheet as deferred incorne.
Investment Income is eamed through holdiNJ assets for investment purposes such as propety. It includes
inter8St and rent. Interest Income Is recognlsed when receivable and rent Is recognised when the charity's
right to receive payment is established.
Expendlture
All expenditure is accounted for on an accruals basis. Expendlture Is recognised where there is a legal or
constructlve obligation to make payments to third parties, It Is probable that the settlement will be requlred
and the amount of the obligation can be measured reliably.
Charitsble activltles costs include all expenditure directly relating to the objects of the School.
Governance costs comprise the costs of running the charlty including strategic planning for future
development, auditors, remuneration. ￿rtain legal costs, Governors, expenses and the costs of complying
wSth constitutional and ststutory requirements. These costs are contained within 'Support and Management
costS￿ther, (see note 5).
All costs, Includlng support costs. are allocated be￿een expendlture categories and departments on a basls
designed to reflect the use of the resource. Costs relating to a particular actlvlty are allocated directly.
Unrestrlcted Funds
Unrestricted funds consist of general reseNes which are awdll8ble for the Governors to apply to the general
purposes of the School.
Designated funds consist of certain unrestricted funds which th6 Gov6rnors have earmarked for partlcular
purposes.
22

ORLEY FARM SCHOOL TRUST
ACCOUNTING POLICIES
Year ended 31 August 2024
Tangible Flxed Assets
Expenditure on land and buildings which, In the opinion of the Govemors. has not enhanced their long-term
value is charged to th8 SOFA. Expenditure on improvements to land and buildings which, In the opinion of
the Governors, has enhanced their long-term value is capitalised. Expenditure on plant, equipment
(including IT equipment) and furniture which is in eX￿sS of £1,000 per item. or group of items, is capitalised.
Assets in the cours& of construction are capitalised and depreciated when brought into use.
Depreciation is provided on all other tangible fixed assets, including freehold property, to write off their cost
less residual value over their estimated useful lives when brought into use, at the following rates..
Freehold buildings
Buildings of non-pemianent construction
All weather pitch
Furnlture, fixtures and equipment
Computers
Motor vehlcles
Telephone System
20/0 on cost
100/ts on cost
150/0 reducing value
250/0 on reducing value
250/0 on reducing value
20°/o on reducing value
The resldual value for all classes of assets, including recent additions to the school buildings, is deemed to
be zero. The exception to this rule being the orfglnal freehold buildlngs, for which the residual value is
deemed to be 50 % of the original cost to reflect land values.
Investments
Listed Investments are stated at market value. Realised gains and losses arising on sales of investments
and unrealised gains and losses arising on Ihe revaluation of the investments at the yearend are taken to
unrestricted funds on the SOFA.
Investments in subsidiary undertaklngs are recorded at cost less any provision for impaimient.
Operatlng Leases
Rentals paid under operating leases are charged to the SOFA.
Taxatlon
The School. as a regislered charity, is generally exempt from Corporation Tax but not from Value Added
Tax (VAT). Irrecoverable VAT is included in the cost of those items to whlch it relates. The School's
subsidiary tradlng compani8s are liable for Corporation Tax on taxable profits not paid to the School as
qualifwng donations under the Taxes Acts.
Pension Schemes
The School contributes to the APTIS Pension Scheme. which is a defined contribution schem8. The School
also contributes to individual personal pension schemes for non-teachlng staff.
23

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2024
1. School Fees Recelvable
2024
2023
Fees receivable consist of:
Gross fees
L8SS: total bursaries, grants and allowances
9,119.052 8,615,376
(206,104) (151,865)
8,912,948 8,463,511
2a. Anclllary Income
2024
2023
Coaches
After School Clubs
Disbursements
Pupll Insurance
5,445
176,857
25,614
24,257
1,967
29,149
43,711
22,988
232,173
97,815
2b. Anclllary Costs
2024
2023
Coaches
After School Clubs
Dlsbursements
Pupil Insurance
1,496
90,026
19,506
22,357
140
5,233
41,365
21,143
133,385
67,881
Costs of After School Clubs include only directly attribulable costs. They do not include any
apportlonment of attributable overheads.
3. Other Income
2024
2023
Property
Hollday Club
Miscellaneous
196,957
29,569
(4,911)
191,885
28.332
14,981
221,614
235,198
24

ORLEY FARM SCHOOL TRUST
NOTES TO FINAhlCIAL STATEMENTS
Year ended 31 August 2024
4. Analysls of Charitable
Expenditure
Salarles
Other
Depreclation
IProflt on Dlsposal
Total
2023
Teaching
Welfare
Premises
Support and management costs
4,208,054
621.917
242,506
270.574
418.616 969,193
613,792 312,666
4,829,971 4,645,807
513,080
461,162
1,868,558 1,595,346
926,458
970,096
480,749
5,482,968 2,174.350
480,749
8,138,067 7,672,411
5. Employees and Key Management
2024
2023
staff costs
Salaries and wages
Social security costs
Penslon costs
4,352,149 4,230,708
424,287
426,724
706,532
711,676
5,482,968 5.369,108
Nelther the Governors nor persons connected to them received any remuneration or benefits or
reimburs8ments of expenses from the School wlth the exc8Ption of the items reported in not8 16 of the
statutory accounts.
The number of higher paid employees whose remuneration for the year fell within the following bands
was:
2024
2023
£60,001- £70,000
£70,001- £80,000
£80.001- £90,000
£160,001- £170,000
Pension contributions of £109,512 {2023 - £79,452) were made on beha￿ of these employees. Of these
employee's pension contributions in respect of the School defined contribution scheme for support staff
were £5,688 (2023 - £5,417).
Staff Numbers
The average number of full time equivalent staff employed by the school
within each category was:
Teaching staff
other staff
50
51
51
50
101
101
The key management personnel of the school includes the Govemors, the Headmaster. the Director of
Flnance and the Director of Operations. The aggregate empk)yee benefits of key management
personnel of the School were £380,350 (2023 - £358,445).
The Headmasterfs wife, Mrs R Calvey. is employed at the School under a standard contract of
employment. The recruitmen( terms of employment and salary are not inflUen￿d by the Headmaster.
All recruitment is overseen by the School's HR department and approved by the Governors.
25

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEIIIENTS
Year ended 31 August 2024
6. Nel Movement In Funds
2024
2023
This is stated after chargingl{crediting>:
Auditors. remuneration
current year audit (Group)
Depreciation
(Profit)ILoss on disposal of Fixed Assets
20,650
482,589
(1,840)
17,550
475,360
(3,000)
501,399
489,910
7. Tanglble Flxed Asse1$
Furnlture,
Freehold land
equlpment
and bulldlngs and vehlcles
Assets In the
course of
conslructlon
Cost
Total
At 1 September 2023
Additions
Disposals
16,298,189
2,405,504
31,201
(14,500)
33,426 18,737,119
31,201
(14,500)
At 31 August 2024
16,298,189
2,442,205
33,426 18,753.820
DepreGlatlon
At 1 September 2024
Charge for Éhe year
Disposals
3,914,534
390,421
1,935,142
92,168
(14,440)
5,849,676
482,589
(14,440)
At 31 August 2024
4,304,955
2,012,870
6,317,825
Net Book Value
At 31 August 2024
11,993,234
409,335
33,426 12,435,995
At 31 August 2023
12,383,655
470,362
33,426 12,887,443
8. Flxed Assets Investments
2024
2023
il Investment in subsldlarles . shares al cost
South Hill Estates, Harrow Limited
Orley Farm School Enterprises Limited
20,950
20,950
20,950
20,950
The Trust owns 1 QODA of the share capitsl in the following Iwo subsidiary compani8s' South Hill Estates
(Harrow) Limited. which owns and manages land and roads in the Harrow area, and Or18y Farm School
Enterprises Limited. Both companies are registered in England and Wales.

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Yoar ended 31 August 2024
The results of the subsidiary companies as extracted from their aLKlited Financial Statements are as
follows:
South Hlll
Eslates
Orley Farm School
Enterpn"ses
2024
2023
2024
2024
Capital and reserves
9,873
9,023
ProfiV(Loss) for the year
848
5,883
A decision was made in June 2007 to subsume the activities of Orley Farm School Enterprises wlthln
the School. The Company becam8 dormant with effect from 1 September 2007.
9. Debtors
2024
2023
Fees and extras In arrears
Amount due from subsidiary company
Other debtors
Prepayments
34,862
62,003
10,176
116,842
29,174
57,577
113,509
223,883
200,260
10. Creditors due within one year
2024
2024
Deposits
Tax and soclal securlty
Accrua15 and deferred income
Other creditors
Bank loan repayable within one year
310,250
204
384,708
170.793
309,500
166,764
407,557
105,586
187,723
865,955 1,177,130
Deferred income consists of fees received in advan￿ totslling £256.956 (2023 - £226.075)
11. Credltors due In more than one year
2024
2023
Amounts repayable between iwo and five years
198,456
198,456
27

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2024
12. Penslon Scheme
The School came out of the Teachers, Pension Scheme ("the TPS.) for its teaching staff at the end of
February 2024 and entered into APTIS scheme from March 2024. The pension charge for the year was
£591,741 (2023 - £599.281). of which TPS charge being £306,543 and APTIS charge being £283,432.
At the year-end £0 (2023 - £51,043) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multiomployer defined benefits pension scheme governed by The Teachers,
Penslons Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 (as
amended). Members contribute on a "pay as you go" basis with contributions from members and the
employer being credited to the Exchequer. Relirement 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 valuatlons undertaken
by the Government Actuary's Departrnent. The most recent actuarial valuation of the TPS was prepared
as at 31 March 2020 and th8 Valuation Report, which was publlshed in October 2023.
Following the Mccloud Judgement, the remedy proposed that when benefits become payable, eligible
members can select to receive them from either the refomed or legacy schemes for the perlod 1 Aprll
2015 to 31 March 2023. The actuaries have assumed that members are likely to choose the option that
provldes them with the greater benefits, and in preparing the 2020 valuatlon have valued the 'greater
value, benefits for groups of relevant member5.
The valuatlon confirmed that the employer contribution rate for the TPS would increase from 23.6°A to
28.6Yo from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.080/.
giving a total employer contrlbukn'on rate of 28.68 % .
The School also contributes to a defined conlribution scheme on behalf of its support staff. Employer
contributions payable to this scheme was £114,791 (2023: £112,395) and at year end £0 (2023.. £9,232)
was accrual in respect of contributiorks to this scheme.
28

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2024
13. Unrestrlcted Funds
Refurb-
ishment
fund
General
fund
Total
funds
At 1 September 2023
Net income
Expenditurerrrdnsfers
(to)Ifrom designated funds
15,398,550
1,279,031
1.395.049 16.793,599
1.279,031
(604.951)
604,951
At 31 August 2024
16,072.630
2,000.000 18,072,630
Refurb-
Ishment
fund
General
fund
Total
funds
At 1 September 2022
Net Income
ExpenditurelTransfers
{to)lfrom designated furKIs
14,197,761
1,043,107
1,552,731 15,750,492
1,043,107
157.682
(157,682)
At 31 August 2023
15,398,550 1,395,049 16,793,599
Deslgnatod Funds
The Governors have reconsidered the Designated Funds and have agreed in line with the Charity
Commlssion guidance to establish the Refurbishment Fund to enable the School Refurbishment Plan
which is due to begin within the next twelve to eighteen months.
14. Cash Flow Statement
2024
2023
Net Cash Inflow from Operatlng Activities
Net income
Depreclation
(Proflt)/Loss on disposal of fixed assets
(Increase) I decrease in debtors
Increase in creditors
Interest paid
Interest re￿iVed
1,279,031 1,043,107
482.589
475,360
(1.840)
(3.000)
(23,623)
41,947
(123,452)
23,474
93,168
(181,541) (61,843)
1,431,164 1.612,213

ORLEY FARM SCHOOL TRUST
NOTES TO FINANCIAL STATEMENTS
Year ended 31 August 2024
Note 14 contlnued.
Analysis of Net Fund5
Asat
1 September
2023
Other
Asat
Cash Non-cash 31 August
flow
changes
2024
Net cash balances
Other loans
5,060,532
<386.179)
1,197.225
386,179
6,257,757
Total
4,674,353
1,583,404
6,257,757
Asat
1 Septembar
2022
other
Asat
Cash Non-cash 31 August
flow
changes
2023
Net cash balances
Other loans
5.629.957
(2,348,781)
{569,425)
1,962,602
5,060,532
(386,179)
Total
3,281,176
1,393,177
4,674,353
15. Related Party TransacQlon8
During the yearamounts totalllng£21,260 (2023-£25,310) were payable to the subsidiarycompany,
South Hill Estat8s, Harrow Limited relating to road levy charges. At the year-8nd £62,004 (2023 -
£57,577) was due from the subsidiary company.
ii. A Governor, Mr A Land, receives a fee discount of 200/9 under the Harrow Masters Fund. Thls fund
Is no longer open to new entrants.
iii. During the year one of our supplier Pilot Financial Services was acquired by Moore Kingston Smith
who provided consultancy services In relation to Teachers. pensions at a cost of £6,900 (2023:
3,600). Mrs Kothari. a Governor at the school, is a partner at MKS.
iv. The School hired facilities from Harrow School Enterprises Ltd for various school events at a cost of
was £3,000 (2023: £1,825). Mr A Land, a Governor at the school, is a director of Harrow School
Enterprise.
v. Mrs R Gascoigne, a teacher at the school, is an owner of G&T School of Performing Arts, 8n
organlsation that hires parts of the school premises to provide drama activities during week. The
hire charge for the year was £10,581 (2023: £9,303).
There vRre no other related party Iransaclions in either years.
16. Capltal Commltments
At 31 August 2024 capltal works authorised by the Board of Governors but not contracted for amounted
to £nil (2023- £400.000). However, the Estale Plan Is expected to commence within the next Iwelve to
eighteen months.