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 I￿0 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
SChola￿hlps 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 suc￿SsfUllY 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 se￿iCe 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 Spa￿s.,
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 rese￿e$ 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.¢￿.ffl6￿2o25 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 con￿r￿ 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 othe￿ise
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 re￿IVed
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 dec￿aSe 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 liabil￿tY 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 be￿een 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 bel￿een 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
EXpendIture￿ran$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 se￿ICeS 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