ORLEY FARM SCHOOL TRUST IA Reglstered Charlty and a Company Llmlted by Guarantee) Reglstered Company No: 628541 Registered Charity No: 312637 ANNUAL REPORT OF THE GOVERNORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
ORLEY FARM SCHOOL TRUST CONTENTS Page Charity Informatlon Annual Report of the Governors 4-14 Independent Auditor's Report 15-17 statement of Financial Activities 18 Balance Sheet 19 Cash Flow Statement 20 Accounting Policies 21-23 Notes to the Financlal 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 Dire¢lors of the Company for Companies Act purposes. The Governors who have served during the year and since the year end are indicated below. Alongside each Governor are details of the subcommittees on which they serve. Dr M Short Mr M Andrews Mrs C Cliffe Mrs K Gater MrCJHa Mrs S Kolhari MrA Land Mrs T Lashkari Mrs L Malde Mr C Shah Mr A Sofal Chair, FB Est Eslc EC Resi ned 30th June 2025 Est FB FB Est Esl {FBCI Chair of Full Board (FBI Member of Full Board (ECI Chair of Education Committee (El Member of Education Committee IFC} Chair of Finance Committee IF) Member of Finance Committee {EstCI Chair of Estates Committee (Est) Member of Estates Commillee IRI Member of Remuneration Committee IS) Member of Strategy Sub Committee {MCI Chair of Maiketing Committee
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 Address aiid Registered Office South Hill Avenue Harrow-on-the-Hill Middlesex HA1 3NU Advisors Bankers Natwest 1-9 Sl Ann's Road Harrow Middlesex HA1 1 EB Solicitors Harrison Clark RickeTbys Limited Ellenborough House Wellington Street Chellenham GL50 1YD Auditor Crowe UK LLP R+ Building 2 Blagrave Street Reading RG1 1AZ Insurance Brokers Marsh Education PraGbce Capital House 1-5 Perrymounl Road Haywards Heath Wesl Sussex RH16 3SY
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 The Governors present their Annual Report, including their strategic report, for the year ended 31 August 2025 together wilh 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. Accounh'ng and Reporting by Charits'es I'FRS 102 SORP"). Reference and Administrative Informatlon Orley Farm School TTUSt (the Trust) is a company limited by guarantee registered as company number 628541. The Trust is also registered wlh 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 Ihe objects. In the furtherance of these objects the Directors, as the Trustees of the Charity, have Complied with the dL¢ty in s.17151 of the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant sulpseclor guidance conceming the inlerpretalion of the Public Benefit requirement under that Act. Governlng Body The Board, detailed on page 2. is a self-appoinling body with one exception being the Headmaster of Harrow School who is a member by virtue of this position. servi on the Board is for a term of three years which may be renewed no more than lce on retirement. The Chair is elected to serve foi five years which may be renewed once only. The current Chair as elected by the Board commenced Iheir tenure from 1st September 2023. Trustee Recruitment and Tralnlng 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 objeots, eligibility, personal competencies, specialist skills and local availability. New Governors receive Induction in respect of Board Policies and Procedures, in addition to familiarisalion 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 AG81S and ISBA of which kne School are members. Governors receive ongoing training, such as safeguarding and many undertake their own continuous professional development in their specialist areas. Organlsatlonal 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 limes each year. The work of implementing most of their policies 18 carried out by three committees which have agreed, and annually revised, Terms of Reference to assisl their functionality. These committees are as follows.. Education Committee. Estates Comm¢ttee 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.
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Organisational Management (continued) The School, through ils officers, is represented in a number of organisab'ons including the Association of Governing Bodies of Independent Schools, the Independent Associalion of Preparatory Schools IIAPS), AG81S and the Independent Schools Bursars, Association (ISBA). Group Structure and Relationships The Charity has tjmo wholly-owned non-chanlable subsidiary companies, whose activities are explained below. South Hill Estates Harrow Limited (Regislered in England as Company Number 109974) South Hill Estates Harrow Ltd was incorporaled 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 Hill Estate, and the benefit of certain covenants relating lo privalely-owned residential and other properties on this Eslale. The Directors include I0 members of the Trust's Full Board committee, the Director of Operations and up to fvjo residents of Soulh Hill Estates. The Company's assets and transactions in the year are not considered material, Iherefore the Goveinors consider it is not appropriate to prepare consolidated accounts of the Trust and ils SLsbsidiary. Copies of the 5ubsidi8ry's accounts are made available lo the Governors of the Trust. Orley Farm School Enterprise$ Limited (Registered in England as Company Number 5345071) The Company was made dormant on 1¥1 September 2007 and will remain dormant until such a lime as the level of Irading activity within the Trust necessitates its management by a subsidiary company or when the TrLislees elect that this be so. Risk Management The Board of Goveiriors is responsible for identifying the key risks faced by the School and fof ensuring the8p. risks are managed. Each year the Senior Leadership Team and the Finance and Estates Commillees identify and assess risks and implemenl controls to mitigate against these. In addition, each year a formal review of the risk management process is undertaken. The major risks have been identified as those of the impact on the School roll of the imposib'on of VAT on independenl school fres, the removal of Business Rale Relief and lift in National Insurance costs. The key controls implemented by the School are as follows.. Formal agendas for all Board and Committee activities., Comprehensive strategie planning, budgeting and management accounting., Established organisalional structure and understood lines of reporting., Formal written policies., Clear, authoritative and agreed approval levels,. and The appointment of suitably qualified professional advisers Through the established systems for managing risk, the Governors are satisfied 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 absolute assurance that major risks have been adequately Inanaged.
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Objects, Alms, Objectlves and Actlvltles Charitable Objects To advance the education of boys and girls by the provision of a school known as Orley Farm School Trust in Harrow-on-Ihe-Hill, and any other boarding school or day school for the education of bDyS and girls and by ancillary or incidental educational aotivilies and other associated activities for the benefit of the community. Alms and Intended Impact Within these objects, the School aims to be a leading co-educational preparatory school for children aged between 4 and 13 years old, by building on the strategies as stated in the 'Whole School Aims, which are summarised below, the full text being published in the School's prospectus and other media. Whole School Alms The School aims to provide a challenging environment to stimulate, maintain and develop a lively and enquiring mind.. to encourage all pupils lo reach their true potential and eventually become independent learners who value learning with and from others. as a life-long process. We aim to appoinl, develop and retain a staff of Ihe highest quality and to develop a school community of responsible citizens, which affords equal value to all of ils members, is seen lo be just and encourages mutual respecl. truthfulness and concern for others. While carrying out our charitable purpose- the provision of education- we aim to deliver substantial benefit lo all stakeholders, including our local communities, through the provision of an excellent and broad educats.on and through access to our services, facilities and expertise. Impact and Responsiveness In accordance with our Governing Instruments, we continue to provide education for children aged 4 to 13 years - such provision relieving the stale of relevant costs. In addition, Ihe School continues to provide bursary support for current and new pupils. The School conlinues to build on the links with a wide section of the local commullity. Key Elements of the School's Strategy The School faces new and evolving educational, legislative, economic, environmental, demographic and social challenges. To respond to them positively and lo enable Orley Farm School lo head towards its 200th anniversary with confidence there must be equally careful planning. These Strategic Priorities and the School Development Plan are designed to sel the destination and the broad outline of Ihe jOUTney, The Board of Governors and Senior Leadership Team intend that Orley Farm School- Conlinues to be one of the leading co-educalional day schools in London.. Will provide quality education and pastoral care for boys and girls in the 4-13 years age range., Will remain a preparatory school with a strong record of success in preparing pupils for entry to their senior independent schools.. Continue lo be blessed wilh a magnificent site and maintain an excellent range of facilities., and Build on its long and distinguished history.
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2026 Key Elements of the School's Strategy Icontinuedl The Board of Governors continues to oversee the pursuit of the School's strategic priorities and the maintenance of ils 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 fLJnds lo give true effect lo this aim., Continue to prepa¥e boys and girls for entry to independent senior schools - with the aim that boys, and increasingly girls. will transfer al 13+; currently most girls transfer at 11 +. Continue to plan with the aid of professional advisors, the further development of the estate in order lo provide excellent buildings and facilities that support an outstanding educational provision., Develop and enact an ICT Strategy, a Communications Strategy and an Outdoor Education Strategy., and Continue 19 develop a Leadership and Development Programme for staff. Continue lo develop the Orley X programme. The Governors measure the success of this strategy through a comprehensive review of the annual strategic school development and managernent action plans, and through the termly reporting of key performance measures produced by senior management for the Board to discuss. Ad hoc subcommittees are established to locus cross-governancelmanagement effort on areas of interest, opportunity and concern. strate icRe ort: Review of Ob'e¢tives for the ear Achievements and Performance Ob'eclive 1.. Mailllain the excellence of the educational rovision throu hout the School. The educational excellence at Orley Farm School was Tewarded with the granting of 31 schola¥ships lo senior schools, of which a total of 16 were taken up by our pupils. Highlights include 15 Academic SCholahlps and 16 awards across a breadth of Sport Scholarships, Drama, Music and Art including 2 STEAM s¢holarships. Ob'e¢live 2.. Continue buildin relationshi s with local schools. Orley Farm School continues lo develop positive partnerships with a number of local schools in Harrow with various initiatives including lending out the School minibuses, inviting Grange Primary School pupils lo watch ur Christmas and Summer matinee productions, hosting Science and Maths afternoons for Welldon Park School pupils, and lunning Art workshops with Alexandra School. In addition, 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 lo see the impact of the projects from the previous year, and these formed a series of a5semblips to Orley pupils. Ob'ects've 3.. Continue the review of our olicies and rocedures lo ensuTe lolal re ulato com liance. School policies and procedures continue lo b8 regularly reviewed to ensure 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.. Continue to develo the School Orlumni. With the support of a former parent and School Governor, the principal objective of the Odumni is lo bring together former Orleyans and parents lo enrich our cuirenl community through events hosted at the School. During the year, the School sucSsfUllY hosted multiple Orlumni events and ffleased quarterly digital Orlumni magazines.
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Ob'eclive 5.. Ensure the rovision of IT continues to meet Ihe academic and business needs of the school. The School conlinues 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 questionnaire along with vulnerability scans to verify the School's exlemal security status, as well as the integrity of ils network, PCS and mobile devices. The School has invested in virtual reality headsets and successfvlly integrated their use within ICT lessons. IT platforms are regularly reviewed to ensure they remain up-to-date and deliver an inluilive and easy user experience, whilst the School's remote learning platform continues to be integraled across its educational provision. Teachers have devices that connect to classroom whiteboards and senior pupils in Years 7 & 8 also have devices thal allow collaborations using teacher-pupil platforms. Ob'eclive 6.. Continue lo ositivel wider commun lo best effect. mana e the relalionshi s with Ihe School's nei hbours tenants and the The School continues to develop the working partnership with South Hill Estates, Harrow Ltd and the residents of the estate via the South Hill Estates Board. The School has provided free use of its facilities through its partnership with the Young Hairow Foundation for social events, Trustee meetings and training events. The School further supported Journey of a Lifetime, a small volunteer charity which aims to enrich the lives of young people with significant disadvantages by organising expeditions all over the world, by hosting their training workshops over the course of two weekends. Ob'eclive 7.. Continue lo mana e the School's education and the wider school communit to best effecl. rovision estate and res nsibili lo ils staff The School's aims are based on the three pillars of 'Academic Life,, 'Pastoral Life, and 'Life Beyond,. Academic Life- To provide a creative, balanced. slimulaling and unique curriculum which encourages skills and pushes mastery of knowledge, allowing everyone lo explore their learning in a safe environmentthal values progress and growth through both success and lailure. Pastoral Life To provide opportunities to develop socially, emotionally. locally and globally and to be relleclive, responsible and self-aware, embracing the school's values in order lo lead healthy. happy and fulfilling lives. Life Beyond - To create broad opportunities, both in and out of Ihe 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, lollowing a successful year. The aim of this programme lo address the growing demand 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 Estates Strate toim rove the School's infrastructure and essential ro ects includin continuin refurbishin and u datin the outdoor articularl focusin aces. onke During the year a number of infrastructure projects were undertaken to enhar)ce the school site. These projects included enhanced security surrounding the Oakmead Building and access to the staff car park and playing fields. drainage works in the meadow area, inslallalion of new cricket netting and conversion of storage room into a multi-use room for meetings, breakout area and match leas. The School has been able to teach sport, beyond the 8chool 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 2025 Ob'eclive 9.. Continue to develo the School's Masler Plan with a Governor led strate committee. The School is developing a 'Maslerplan' to scope and seiCe the future needs of the School for the corriing decade. The principal aim is lo combine the School's short, medium and long-term objectives into a cohesive plan lo ensure that future developments reflect and enhance the educational philosophy of the School in line with the three pillars of school life. Before the pandemic, the school identifi'ed untapped opportunities to further develop the physical growth of all dges through sport. recreation and outdoor education., post pandemic this has gained an added relevance through developing social and collaborative opportunilies, both during and after the school day. Facililies are being reviewed lo best support this agenda. The School is also keen to ensure that we consider the wider community in any development of facilities, creating partnerships with local primary schools so that we maximise Ihe impact both in and beyond Orley Farm. During the year an Estales Condition SuNey was completed to inform and develop parts of the School's wider Maslerplan. Ob'ective 10.. To conduct due dili offerin at the School. en¢e on the creation and hased im lemenlation of an outdoor curriculum Following the successful completion and evaluation of 2 pilot outdoor curriculum offering, the School lias created 3 Meadow School that is now being implemented as part of the curriculum for all Pre-Prep pupils. Due lo the positive impact on mental health, physical growth and concenlralion, the School has extended this programme into Middle School. Ob'ective 11.. To develo a Maikelin Strate The School has assigned a Governor to lead on the development of a marketing strategy with the aim of reviewing all aspects of it5 fflarkeling, exploring new marketing opportunities and promoting its educational reputation amongst cuTienl and prospective families. A new Marketing Committee, which the lead Governor will chair, has also been set up with termly meetings commencing in the 2024125 academic year.
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Pupil destinatlons and Scholarshlp Awards in 2026 Pupils often apply for, and are awarded, scholarships for more than one school. On these occasions, only the scholarship for their future school is accepted. Boys.. Destlnation School Number of Puplls Scholarships Awarded ACS Aldenham Berkhamsled Boys Haberdashers, Boys Harrow School John Lyon School Merchanl Taylors, School Mill Hill School 10 st Alban's School State School St N4argaret's Bushey St Paul's School Warford Grammar School TOTAL 36 20 Girls.. Destination School Number of Puplls Scholarshlps Awarded Aldenham Dubai College Godolphin & Latymer Haberdashers, Girls North London Collegiate Notting Hill & Ealing Northwood College Royal masonic School state School st Clement Danes Sl Helen's School Sl Margaret's School, Bushey South Hampstead High School TOTAL 25 21 10
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Financial Review and Results for the Year Orley Farm started 2nd maintained a strong pupil roll during the year. The year has however been presented with a host of challenges and uncertainly for the Orley Farm Community particularly in the face of significant inflationary pressures across all operational expenditure 2nd the cost of living crisis. The Governing Body were well aware of the ongoing uncertainty 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 S¢hool is lo pi'ioritise key and essential infrastructure projects around the school slte. Throughout the year the School has undertaken a number of projects to enhance the school site, this includes undertaking a comprehensive stock condition survey to inform the Governors and management in finali5ing the School's masterplan, drainage works across our meadow area, an additional security gate at the Oakmead enlrance and installing portable lighting in the vicinity of the School Astro. The School generated net fee income of £8,926.401 (2024- £8,912,948), which was th8 primary source of revonue. Whilst the School generates additional income in the form of lettings income and rents, the overriding primary source of income is derived from pupil fees. The operating costs for the year were £8,254,50912024 - £8,285,316). This expenditure has been closely monitored and the School continues to adopt a cautionary approach lo spending as a result of the inflationary pressures namely in relation lo wages and electricity and gas and this in turn has allowed the 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 £1,320,65512024.' Surplus of £1.279,031) generated within the year will place the School in a strong position to embark on the delayed key and essential infrastructure projects which are now seen as priority for the School which include the development of the play areas in and around the school site, refurbishment of the School's Astro field, and refurbishment of the school's properties and its outdoor provisions that will form part of the School's Masterplan. The School has moved away from the Government Teacher's Pension Scheme and entered into a Defined Contribution Scheme from March 2024 for our teachers. The Board of Governors are confident that the School's financial situation is in a sound position which will 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 Ihe removal of Business Rale Relief. The landscape for all independent schools is changing rapidly and the Board of Governor5 is committed to maintaining the excellent education for all of ils pupils by careful management of resources and by working closely with the leadership team to respond quickly and thoughtfully lo all challenges and by balancing the interests of all stakeholders. There has been no outsourced fundraising via professional fundraisers or olher third parties. The charily is not registered with the fundraising regulator and received no fundraising complaints in the year. Freehold Properties The School owns 4 residential properties which continue lo generate income for the school. Income generated from property, including school lettings, Ihis year was £204,55212024 - £196,957).
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Extra-currlcular Activities Our extra-cufricular programme continues to be built around our weekly programme of lunchtime and after school clubs. subject to government guidelines and this has been extended following the creation of the Orleyx programme. The annual Expeditions Week conlinues to thrive. Public benefit As required by the Charitie8 Acl 2011, the Governors have referred lo the general guidance on public benefit and have due regard to the Charity Commission's guidance on public benefit, including the guidance '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 lo the schooling we provide., to oplimise the educational use of our cultural and sporting facilities and to awaken in our pupils an awareness of the wider social context of the education they receive al the School. We are proud of the Community links we have developed and continue to develop as listed below and we always look to strengthen these in line with the Charity Commission's guide to public benefit. Grange School. We maintain a strong partnership with Grange Primary School. Their pupils have attended drama productions and sports afternoons throughout the year. Our drama department ran a workshop lo support their summer performance, for which props and costumes were also loaned. Donations were made to support their Christm8s Campaign, and funds raised from the School Swimathon contribuled towards the cost of providing swimming lessons for Grange pupils. Resources have also been donated, including four interactive whiteboards, assorted stationery and, as part of the Our Wodd project, funding to enable Grange lo purchase and stock a mobile library. Alexander School. Our pupils continue to visit Alexandra School for a weekly music club, and we are delighted to welcome a class each half-term for an art workshop to support the delivery of their curriculum topics. At Christmas, small gift bags and picture books were donated a5 part of their initiative lo provide a piesenl for every pupil. Theii Our World project funding was L¢sed lo improve outdoor facilities for the Reception class, including a sandpit. gardening equipment and seeds. Shared Use We continue to allow selecled parties to use our premises at little or no cost. This includes Sl Dominic's College using our sports facilities. Journey of a Lifetime hoslir¢g training workshops, The young Harrow Fovndation using evenl spaces and a local hockey club using our Astroturf facilities when needed. Work Experlence. The School continues lo offer work experience placements to students from various colleges enabling them gain sports coaching experience. Harrow Cricket Club. By continuing to subsidise the overheads of Harrow Cricket Club, Dver 200 youth cricketers and several adult teams from the wider community have access to the sport. The junior colt's teams also use of the sports hall during winter months to support their expanding junior cricket programme. Charitable Donatlons. The school continues to support the Changemakers Fund with a £10,000 contribution. We contributed lo Ihe HAF Winter Wonderland using money raised Irom our Big Christmas Wrap. Addilional funds raised included the Royal British legion, Harrow Food Bank and Harrow Young Carers. Volunteerlng. In our 1751h year, we are encouraging the entire community to give lime alongside raising money. This exciting initiative has seen several staff offer th8ir expertise by delivering free workshops and CPD to local schools. Notable commitments include weekly work with 2 class at Grange, culminating in an assembly, targeted CPD provided to Priestmead School on wellbeing and hosting a day course, Thrive in Schools.. Practical Strategies to Nourish Staff Wellbeing, for local schools. Staff also seNe 8$ govemors in a wide variety of schools. Fee Support. This year we supported a total of g pupils al a cost of £94,191 (2024.. 6 pupils £83,053) through our own Fee Support Scheme and our Hardship Support Scheme. 12
ORLEY FARM SCHOOL TRUST ANNUAL REPORT OF THE GOVERNORS Year ended 31 August 2025 Plans for Future Periods These plan5 remain.. To continue to enhance the School's Estates Strategy so as to enhance the education and opportunities for all pupils., To enact our financial plans in support of the Estates Strategy., and To enact the School's other development plans upon completion of the School's Masterplan. Objectives foi 202512026 Maintain the excellence of the educational provision throughout the School., Continue building relationships with local schools., Continue the review of our policies and procedures to ensure total regulatory compliance., Continue lo develop the School Orlumni., Ensure the provision of IT continues to meet the academic arld business needs of the school., Continue to positively manage the relationships with the School's neighbours, tenants and ihe wider community to best effect., Continue lo manage the School's education provision, estate and responsibility to pupils, staff and the wider school community to best effect., Enact the Eslales Strategy lo improve the School's infraslruclure, particularly focusing on key and essential projects including continuing refurbishing and updating the outdoor play Spas., Governors will focus Dn managing the impact of any financial implications which may arise from political and economic factors outside the School's control lo ensure that il will continue to thrive in the future,. and 10. To develop a Marketing Slialegy. Reserves Policy The lolal resee$ for the School were £19,393,285 of which £2,000,000 related to designated funds, leaving £17,393,285 of free resetves. The Reserves Policy of the School takes into account a number of parameters siich as'_ Risks included in the School's risk register The School's objectives,. and The current and future obligations of the School, including any Gornmilments that it has already entered into. Based on their assessment, the GovernoFS consider that the minimum targeted level of reserves desired is working capital at the level of six month's expenditure. The Governors will keep the current resetves policy under review during the next academic year, whilst also continuing to strive to generate funds in line wilh minimum targeted levels The Governors will review the reserves policy on an annual basls. Remuneration Policy The Remuneration Committee are tasked with reviewing remuneration, including Key Managefflent Personnel, on an annual basis. Consideration is given to the eurrenl market condilions, 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 2025 Going Concern The Governors are aware that cash is the most important driving factor when setting future budgets. The School's cash position has been slress-lested by the Governors using various scenarios including conservative estimate of pupil numbers and rising costs. Following these tests, the Board is content that the School will remain a going concern and can meet its ongoing obligations for a period of 12 months from when these accounts are signed. Responslbllltles of the Governors The Governors (who are also directors of Orley Farm School Trust for the purposes of company lawl are responsible for preparing the Report of the Governors (including the Strategic Report) and the financial statements in accordance with applicable18w and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Governors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including Ihe income and expenditure of the charitable company for that period. In preparing these financial statements, the Governors are requiTed to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP {FRS 102)., make judgements and ests'males that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charitable company will continue in operation. The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensuie that the financial stalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Governors are aware.. there is no relevant audit information of which the charilable company's auditor is unaware., and the Governors have taken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to eslablish that the auditor is aware of that information. Auditors Crowe UK LLP has signified its willingness lo continue in office as audilors. A resolution proposing their re-appointment will be submitted at the Annual Gener21 Meeting. Approved by the Board of Governors of Orley Farm School Trust onl5t...D.¢.ffl62o25 and signed on its behalf by.. DrMEShort Chair 14
ORLEY FARM SCHOOL TRUST INDEPENDENT AUDITOR'S REPORT Independent Auditor's Report to the Members of Orley Farm School Trust Opinion We have audited the fillancial statements of Orley Farm School Trust I'the charttable company'l for the year ended 31 August 2025 which comprise the Statement of Financial Aclivilies, the 8alan Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting polic'es. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In OLJr opinion the fi'nancial slalemenls.. give a true and fair view of the slate of the charitable company's affairs as at 31 August 2025 and of its income and expenditure, for the year then ended., have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounling Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standard$ on Auditing (UK) IISAS IUKI) and applicable law. Our responsibilities under those slandard5 are further described in the Auditor's responsibilities for the audit of the financial statements section of our ieport. We are independent of the ch8ritable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including Ihe FRC'S Ethical Standard, 2nd we have fulfilled our other ethical re.sponsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern Iri auditing the financial slatemenls, we have concluded that the trustee's use of the going conr basis of accoLinling in the preparation of the financial s121ements ig appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions thal, 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 twelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. other Informatlon The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other informabon and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other informalion is materially inconsislenl with the financial statements or our knowledge obtained in the audit or otheise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whelher this gives rise to a malerial mis5tatemenl in the linancial statements themselves. If, based on the work we have performed, we conolude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing to report in this regard.
ORLEY FARM SCHOOL TRUST INDEPENDENT AUDITOR'S REPORT Opinions on other matters prescribed by the Companles Act 2006 In our opinion based on the work undertaken in the course of our audit the infonnation given in the trustees, report, which includes the directors, report and Ihe strategic report prepared for the purposes of company law, for the financial year for which the financial stalements 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 whl¢h we are required to report by exception In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have nol idenlified 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 relats'on to which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate and proper accounting records have not been kept., or the financial statements are not in agr&ment with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the Iruslees (who are also the directors of Ihe 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 statemenls thal 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 Ihe going concern basis of accounting unless the trustees either intend lo liquidate Ihe charitable company or to cease operations, or have no realistic allernalive bul lo do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI 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 LAsers 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-. www.frc.or .uklauditorsres onsibililies. This description forms part of our auditoi's report. 16
INDEPENDENT AUDITOR'S REPORT
ORLEY FARM SCHOOL TRUST
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 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 RG1 1AZ
Date: 8 December 2025
17
ORLEY FARM SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expenditure Account) Year ended 31 August 2025 2025 2024 Note Income from: Charitsble Activities School fees receivable Registration fees Ancillary income other income 8,926,401 8.912,948 13,329 16,071 173.603 232,173 245.784 221,614 Investments 216,047 181,541 Total Income 9,575,164 9,564,347 Expenditure on: Raising funds Financing costs 13,864 Charitable Activities Ancillary costs Primary educational costs 2b 102,829 133,385 8,151,680 8.138.067 Total Expendlture 8,254.509 8,285,316 Net Income and Movements in Funds for the Year 13 1,320,655 1,279,031 Balance at beginning of year 18,072,630 16,793,599 Balance at End of Year 19.393,285 18,072.630 All of tF7e activities of the School are continuing. The School has no recognised gains or10sses other than as slated above. All income and expenditure was unrestricted in both years. The Accounting Policies and Notes on pages 21 to 30 fomi part of these Financial Statements. 18
ORLEY FARM SCHOOL TRUST Company Number: 628641 BALANCE SHEET At 31 August 2025 Fixed Assets Note 2025 2024 Tangible fixed assets Investments 12,090,147 20,950 12,435,995 20,950 12,111,097 12,456,945 Current Assets Stock Debtors Cash at bank and in hand 6,431 903,156 7.856.127 223,883 6,257,757 8.765,714 6,481,640 Creditors.. due wilhin one year 10 11,483.526) {865,9551 Net Current Assets 7.282,188 5,615,685 Net Assets 19,393,285 18,072,630 Unrestricted Funds 13 General fund Designated Funds.. Building Refurbishment fund 17,393,285 16,072,630 2,000,0000 2,000,000 19,393,285 18,072,630 Approved and authorised for issues by the Board of Governors on behalf by.. 2025 and signed on ils DrMEShort Mrs S Kothari Chair Chair of Finance Committee The Accounting Policies and Notes on pages 2110 30 form part of these Financial Statements. 19
ORLEY FARM SCHOOL TRUST STATEMENT OF CASH FLOWS Year ended 31 August 2025 2025 2024 Note Net Cash Inflow from Operatlng Actlvities 14 1,517,118 1,431,164 Cash flows from Investin ments to acquire tan es proceeds of tangib Interest reIVed Activittes e fixed assets e fixed assets (134,795) 216,047 {31,2011 1,900 181,541 Net Cash Inflow from Investlng Actlvltles 1,598,370 1583,404 Cash flow from Flnanclng Actlvitlos Loan Repayment (386,1791 Increase in cash in the year 14 1,598,370 1,197,225 Reconciliation of Net Cashflow to Movement in Net Funds IncreaselDecrease in cash in the year Nel decaSe in barik loan 1,598,370 1,197,225 386 179 Change in funds resulting from cash flows and 14 Movement in nel funds in the year Net funds at beginning of the year Net Funds at End ofthe Year 1,598,370 1,583,404 6 257 757 4 674 353 14 7856 127 6 257 757 The Accounting Policies and Notes on pages 2110 30 form part of Ihese Financial Stalements. 20
OPLEY FARM SCHOOL TRUST ACCOUNTING POLICIES Year ended 31 August 2025 Basis of Accounting Orley Farm School Trust is a charitable Company in the United Kingdom. In the event of the charity being WOLind up, the liabiltY 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 112iure of the chaiity's operations and principal activities is the operation of Orley Farm School. The charity conslilules a public benefit entity as defined by FRS 102. The financial slatemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021, 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 basis under the historical cost convention, modified to include certain items al fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The Governors have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubl on the ability of the School to continue as a going concern. The Governors have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the Govemors have considered the School's forecasts and projections and have taken account of pressures on fee income, particularly in light of the impact of the current economic uncertainty including the inflationary cost pressLJres and the exposure lo significant increases In utility costs, before these financial statements were approved and 18 explained in more detail in the Risk Management section of the Governors Report in these financial statements. After makinq enquiries the Governors have concluded that there is a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. As such the School can expect to be able to meet ils liabilities as they fall due in the period of at least 12 months from the dale of approval of these accounts. However, there can be no rtainlY in relation to these matters. On this basis the Governors have concluded that the School is a going concem. The financial statements do not include any adjuslmenls that would result from the School not being able to meet its lidbililies as they fall due. The significant accounting policies applied in Ihe preparation of these financial statement5 are set out below. These policies have been consislenlly applied lo all years presented unless otherwise staled. The Trust is the beneficial owner of the whole of the share capital of South Hill Estates Ltd. The Company's assets and transactions in the year are not considered material, therefore the Governors consider il is not appropiiale to prepare consolidated accounts of the Trust and its subsidiary. Cash and cash equivalents Cash and cash equivalents include cash al bank and in hand. Judgements and key source5 of estimation and uncertainty The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported for assels and liabilities as at the balance sheet dale and the arnounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates The judgements laparl from Ih05e involving estim8lesl that have had the most significant effect on amounts recognised in the financial Statements related to the useful economic lives of tangible fixed assets. 21
ORLEY FARM SCHOOL TRUST ACCOUNTING POLICIES Year ended 31 August 2025 Income All incoming resources are included in the Statement of Financial Activities (SOFA) when the School is legally entitled to the income. after any performance conditions have been met, when the amount can be measured reliably and when il is probable Ihat 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 the year in respecl of the following terms are shown on the balan sheet as deferred income. Investment income is earned through holding assets for investment purposes such as property. It include5 interest and rent-, Interest income is recognised 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. Expendilure is recognised where there is a legal or conslruclive obligation to make payments lo third parties, it is probable that Ihe settlement will be required and the amount of the obligation can be measured ieliably. Charitable activities costs include all expenditure directly relating to the objects of the School. Governance costs oomprise the costs of running the charity including strategic planning for fulure development, auditors. remuneration, certain legal costs, Governors, expenses and the costs of complying with conslilutional and statutory requirements. These costs are contained within 'Support and Management Costs-olher, (see note 4). All costs, including support costs, are allocated beeen expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allo¢atec5 directly. Unrestricted Funds Unreslflcted funds consist of general reserves which are available for the Governors to apply to the general purposes of the School. Designated funds consist of certain unrestricted funds which the Governors have eannarked for particular purposes. 22
ORLEY FARM SCHOOL TRUST ACCOUNTING POLICIES Year ended 31 August 2026 Tangible Flxed Assets Expenditure on land and buildings which, in the opinion of the Governors, has not enhanced their long-lemi value ig charged lo the 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 excess of £1,000 per item. or group of items, is capilalised. Assets in the course of Construction are Capitalised and depreciated when brought into use. Depreciation is provided on all other tangible fixed assets, including freehold property, to wrile off their cost le85 residual value over their estimated useful lives when brought into use, al the following rates.. Freehold buildings Buildings of non-pemianenl construction All weather pitch Furniture, fixtures and equipmenl Coinputers Motor vehicles Telephone System 2% on cost 4•/0 on cost 100A on cost 1 SOA reducing value 250/¢J on reducing value 25 /0 on reducing value 20 /• on reducing value The residual value for all classes of assets, including recent additions lo the school buildings, is deemp.d lo be zero. The exception to this rule being the oiiginal freehold buildings. for which the residual value is deemed to be 500/0 of the original cost lo reflect land values. Investments Ligled investments are stated at market value. Realised gains and losses arising on sales of investments and unre.alised gains and losses arising on the revaluation of the investments al the year-end are taken to unreslricled funds on the SOFA. Investments in subsidiary undertakings are recorded al cost less any provision for irnpairment. Operating Leases Rentals paid under operating leases are charged to the SOFA. Taxation The School, as a registered Charity. is generally exempt from Corporation Tax but not from Value Added Tax IVAT). Irrecoverable VAT is included in Ihe cost of those items to which it relates. The School's subsidiary Ira(Jing companies a liable for Corporalion Tax on taxable wofits not Paid to the School a$ qualifying donations under the Taxes Acts. Pension S¢hemgS The School contributes to the APTIS Pension Scheme for leaching staff, which 18 a defined contribution scheme. The School also contributes lo individual personal pension schemes for non-leaching staff. 23
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Year ended 31 August 2025 1. School Fees Recefvable 2025 2024 Fees receivable consist of.. Gross fees Less.. total bursaries, grants and allowances 9,098,804 9,119,052 (172.403) {206,104) 8,926,401 8.912,948 2a. Anclllary Income 2025 2024 Coaches After School Clubs Disbursemenls Pupil Insurance 2,785 127,394 16,407 27,017 5,445 176,857 25,614 24.257 173,603 232,173 2b. Anclllary Costs 2025 2024 Coaches After School Clubs Disbursements Pupil Insurance 1,496 90,026 19,506 22,357 63,978 13,215 25,636 102,829 133,385 Costs of After School Clubs include only directly attribulable costs. They do nol include any apportionment of attributable overheads. 3. Other Income 2025 2024 Property Holiday Club Miscellaneous 204,552 29,826 11,406 196,957 29,569 {4,911} 245,784 221,614 24
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Year ended 31 August 2025 4. Analysis of Charitable Expenditure Salaries Other Depreciation IProfit on Disposal Total 2024 Teaching Welfare Premises Support and management costs 4,416,301 278,534 462,278 655,226 498,946 263,997 799,610 296,145 4,915,247 4,829,071 542,531 513,080 1,742,531 1,868,558 951,371 926,458 480,643 5,812,339 1,858,698 480,643 8,151,680 8,138,067 5. Employees and Key Management 2025 2024 Staff costs Salaries and wages Social security costs Pension costs 4,606,015 4,352,149 481,467 424,287 724,857 706,fj32 5,812,339 5,482,968 Npither the Governors nor persons connected lo them received any remuneralion or benefits or reimbursements of expenses from the School with the exception of the items reported in note 15 of Ihe slalutory accounts. The number of higher paid employees whose remuneialion for the year fell within the following bands was.. 2026 2024 £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £170,001- £180,000 £180,001- £190,000 Pension contributions of £120,44112024- £109,512) were made on behalf of these employees. Of these ernployee's pension contributions in respect of the School defined contribution scheme for support staff were £5,85912024- £5,688). staff Numbers No. No. The average number of full time equivalent staff employed by the school within each category was.. Teaching staff Other staff 51 49 50 51 100 101 The key management pe¥sonnel of the school includes the Govemors, the Headmaster, the Director of Finance and the Director of Operations. The aggregate employee benefits of key management personnel of the School were £385,842 {2024 - £380,350). The Headmaster's wife, Mrs R Calvey, is employed at the School under a standard contract of employment. The recruilrnent, terms of employment and salary are not influenced by the Headmaster. All recruitmenl is overseen by the School's HR department and approved by the Governors. 25
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEP41ENTS Year ended 31 August 2025 6. Net Movement In Funds 2025 2024 This is stated after chargingllcrediting).. Auditors, remuneration - current year audit (Group) Depreciation (ProfitllLoss on disposal of Fixed Assets 20,320 477,483 3,160 20.650 482,589 {1,8401 500.963 501,399 7. Tangible Fixed Assets Furniture, Freehold land equipment and bulldlngs and vehicles Assets in the course of construction Cost Total At 1 September 2024 Additions Disposals 16,298,189 2,422,205 102,771 169,738) 33,426 18,753,820 32,024 134,795 {69,7381 At 31 August 2025 16,298,189 2.455,238 65,450 18,818,877 Depreciation At 1 September 2024 Charge for the year Disposals 4,304,955 390,420 2,012,870 87,063 (66,5781 6,317,825 477,483 (66,578) At 31 August 2025 4,695,375 2,033,355 6,728,730 Net Book Value At 31 August 2025 11,602,814 421,883 65,450 12,090,147 At 31 August 2024 11,993,234 409,335 33,426 12,435,995 8. Fixed Assets Investments 2026 2024 il Investment In subsldlarles - shares at cost South Hill E5tat8s. Harrow Limited Orley Farm School Enterprises Limited 20,950 20,950 20,950 20.950 The Trust owns 100 /0 of thè share capital in the following iwo subsidiary companies.. South Hill Estates (Harrow) Limited, which owns and manages land and roads in the Harrow area, and Orley Farm School Enterprises Limited. Both companies are registered in England and Wales. 26
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Year ended 31 August 2025 The results of the subsidiary companies as extracted from their audited Financial Statements are as follows. South Hill Estates Orley Farm School Enterprises 2025 2024 2025 2024 Capital and reserves 5,092 9,873 ProfiU(Loss) for the year (4,781) 848 A decision was made in June 2007 to subsume the activities of Orley Fami School Enterprises wilhin the School. The Company became dormant with effect from 1 September 2007. 9. Debtors 2025 2024 Fees and extras in arrears Amount due from subsidiary company Ollier debtors Prepaymenls 587,790 71,853 19,577 223,936 34,862 62,003 10,176 116,842 903,156 223,883 10. Creditors due within one year 2025 2024 Deposits Tax and social security Acci'uals and deferred income Other creditors 295,833 672,086 293,612 221,995 310,250 204 384,708 170,793 1,483,526 865,955 Deferred income consists of fees received in advance lolalling £207,19512024- £256,956) 11. Operating Lease 2025 2024 Amounts repayable in one year Amounts repayable beleen 2-5 years 20,103 60,311 80,414 27
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Yeaw ended 31 August 2025 12. Pension Scheme The School came out of the Teachers, Pension Scheme I 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 £600,962 (2024 - £591,741). At the year-end £0 (2024 - £0) was accrued in respect of contributions to this scheme. The School also Conlribules to a defined contribution scheme on behalf of its support staff. Employer contributions payable lo this scheme was £123,89512024'. £114,791) and at year end £15,09912024'. £0) was accrual in respect of contributions to this scheme. 13. Unrestricted Funds Refurb- ishment fund General fund Total funds Al 1 Seplember 2024 Nel income Expenditure ransfers {to)Ifrom designated funds 16.072,630 2.000,000 18,072,630 1,320,655 1,320.655 At 31 August 2025 17,393,285 2,000,000 19,393,285 Refurb- Ishment fund General fund Total funds Al 1 September 2023 Net income EXpendItureran$fers {tollfrom designated funds 15,398,550 1,395.049 16,793.599 1,279,031 1,279,031 1604,9511 604,951 At 31 August 2024 16,072,630 2,000,000 18,072,630 Deslgnated Funds The Governors have reconsidered Ihe Designated Funds and have agreed in line with the Charity Commission guidance to establish the Refurbishment Fund to enable the School Refurbishment Plan which is due lo begin within the next e1ve months. 28
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Year ended 31 August 2025 14. Cash Flow Statement 2025 2024 Net Cash Inflow from Operatlng Actlvltles Net income Depreciation {Profil)ILoss on disposal of fixed assets (Increase}I decrease in Stock (Increase) I decrease in debtors Increase in creditors Interest received 1,320,655 1,279,031 477,483 482.589 3,160 {1,840) 16,431 } {679,2731 {23,623} 617,571 (123,4521 (216,0471 (181,5411 1,517,118 1,431,164 Analysis of Net Funds Asat 1 September 2024 other Asat Non-cash 31 August changes 2025 Cash flow Nel cash balances Other loans 6,257,757 1,598,370 7,856,127 Total 6,257,757 1,598,370 7,856,127 Asat 1 September 2023 other Asat Cash Non-cash 31 August flow changes 2024 Nel cash balances Other loans 5,060,532 1386,1791 1,197,225 386,179 6,257,757 Total 4,674,353 1,583,404 6,257,757 15. Related Party Transactions During the year amounts totalling £25,877 {2024- £21.2601 were payable to the subsidiary company, South Hill Estates, Harrow Limited relating lo road levy charges. At the year-end £71,853 (2023 £62,004) was due from the subsidiary company. A Governor, Mr A Land, receives a fee discount of 20°/o under the Harrow Masters Fund. This fund is no longer open to new entrants. iii. The school receives consultancy seICeS in relation to staff pensions by supplier Moore Kingston Smith at a cost of £7,800 {2024'. £6,900). Mrs Kothari, a Governor at the school, is a partner at MKS. iv. The school hired facilities from Harrow School Entefpfises Ltd for various school events al a cost of was £2,08312024'. £3.0001. Mr A Land, a Governor al the school, is a director of Harrow School Enterprises Ltd.
ORLEY FARM SCHOOL TRUST NOTES TO FINANCIAL STATEMENTS Year ended 31 August 2025 Note 15 continued Mrs R Gascoigne, a teacher at the school, is an owner of G&T School of Performing Arts, an organisats'on Ihal hires parts of the school premises to provide drama activities during the weekend. The hire charge for the year was £10.688 (2024.. £10,581). There were no other related paty transactions in either years. 16. Capltal Commltments At 31 August 2025 capital works aulhorised by Ihe Board of Governors but nol conlra¢led for amounted to £nil {2024- £0). However, the Estate Plan is expected to commence within the next e1ve months. 30