GIVING SOMETHING MORE IS WHAT WE SHARE WITH YOU
Academies & Schools
The running of an academy or school – doing the right thing for students and staff, as well as governors and trustees – is complex and demanding.
If you have these responsibilities, you’ll need sensitive and experienced advisers who can guide you through your regulatory requirements, help you plan for the future and ease the pressure.
We understand the challenges facing academies and schools and how to navigate them. Our specialists have more than 25 years’ experience and provide audit, accounts and tax advice to over 100 UK schools and academies.
COMPLIANCE IS A GIVEN. WE TAKE A BROADER VIEW.
Within our team are charity trustees and the Chair of Operations (Audit and Risk) for a four-school MAT. This gives us first-hand insights that in turn benefit our clients.
Having advised the government on the implementation of the academy accounts model, our involvement with the Education and Skills Funding Agency (ESFA) auditors’ forum along with other large providers of academy audits has enabled us to help shape the sector’s bespoke auditing and accounting regulations. This also ensures that we are aware at an early stage of technical developments and significant updates, such as changes to the Academies Accounts Direction.
In recognition of our high standard of work for faith academies, we are a preferred supplier of financial services by Churchmarketplace. We were heavily involved in resolving an historic issue surrounding the accounting treatment of land and buildings, specific to faith academies, which has since been widely adopted across the sector.
Since the introduction of the Academies Act in 2010, the Government has increasingly advocated for schools to convert to academy status and, more recently, the joining of already established MATs. Our experience includes helping with conversion to academy status and fulfilling the statutory and ESFA obligations that follow. We can advise on the correct allocation of income and expenses and the reclaiming of VAT as well as all other aspects throughout the conversion process.
Our compliance services for schools and academies include:
- Statutory accounts preparation
- Statutory audit and regularity review
- Corporation tax return (CT600) preparation and submission
- Annual audit of end of year certificate (EOYC – for teachers’ pensions)
- Annual accounts return (AAR)
- Annex G returns and other similar returns for certain grant funding
- Internal Scrutiny (Internal Audit) provision, in line with the Academy Trust Handbook (ATH)
- Responsible Officer review in accordance with the academies’ financial handbook
- Company secretarial services
- Financial procedures manual preparation/review
- Financial procedure manual preparation
- HR support
- Due diligence support
- Budget forecast return (BFR), land & building collection tool (LBCT) and gender pay gap reporting
- Management accounts assistance/preparation
We can also advise on:
- Tax, including VAT
- Cashflow forecasting and management
- Development of commercial activities
- Streamlined Energy and Carbon Reporting (SECR) and sustainability
Our helpline will directly connect you to our dedicated educational services team, who can assist and advise on all types of related queries. The support available covers all aspects of the bookkeeping, preparation of accounts, returns and taxation (including VAT), as well as any specialist Academy queries not only for the initial year but as we continue our long relationship with the trust.
For advice from our academies and schools team, please contact us using our enquiry form.
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OUR TEAM
Academies Trust Updates Webinar
Our academies and schools experts will take you through the AAD and ATH updates and explain your reporting requirements.
