Academies Benchmark Report 2021 – released
We are delighted to share the release of Kreston UK’s 2021 Academies Benchmark Report. To access your complimentary copy of the report, please click here.
The Academies Benchmark Report 2021 is based on those Academies that prepared financial statements for the period ended 31 August 2020 and which were audited by member firms of Kreston UK.
This year the report includes over 300 Trusts representing nearly 1,400 schools.
Key highlights from the Academies Benchmark Report include:
- The percentage of trusts in cumulative deficit has fallen from 8% to 5% over the last year.
- Nearly 60% of trusts submitted claims for additional funding for the 2019/20 academic year.
- 67% of trusts with at least 8 schools had 1 or more schools in an individual deficit position. When compared, the percentage of trusts with 4 or fewer schools that had 1 or more schools in deficit was 29%.
- The growth of MATs has occurred primarily in the most centralised trusts. As at December 2020, there were a total of 9,399 academies compared to 8,721 in December 2019. The annual rate of growth has however slowed, from 10.8% in the year to December 2019, down to 7.8% to December 2020.
Kreston Reeves is one of the leading members of the Kreston UK Academies Group which is a network of independent accounting and business advisory firms in the UK that share a common interest and specialization in the academies and education sector.
For your copy of the 2021 Academies Benchmark Report please click here.
Phil Reynolds, a specialist in Academies and Education at Kreston Reeves, said: “This year’s benchmark report could be viewed as upbeat as many Trusts show improved results.
“However, these really do mask the situation Trusts are facing around the UK, and in particular here in the South East and London. Trusts continue to face unexpected additional costs arising from a further lockdown, which was unlikely to have been budgeted for, whilst hoping to improve their IT infrastructure as remote learning becomes ‘the norm’. The ESFA need to continue to look to support Trusts whether it be financially or via delaying regulatory deadlines as they are becoming overwhelmed with the impact from the pandemic. Equally Trusts will now need to seriously acknowledge that education will never be delivered in quite the same way again and adapt as best they can to this new world we all face.”
We are also able to offer a personalised Benchmarking service incorporating the results of your Academy Trust. If you would be interested in learning more please contact our Academies team.
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