This Pick from the Past was originally posted in August, 2007, I discovered when searching for a preexisting thread for the story.
Apparently (and surprisingly) there isn't one. So it's high time to start one.
It starts out as a stereotypical English boarding school story, but the protagonist quickly discovers that he has slipped down the equivalent of Alice in Wonderland's rabbit hole.
It's an entertaining read, and I remember reading it some years ago.
http://www.awesomedude.com/camy/feredir/index.php
R