Academies and education

At Kreston Reeves we understand the issues facing clients in the education sector. Our specialist team is dedicated to advising private and public education sector clients, including academies.

Members of our specialist team include partners and staff who are governors and charity trustees in their own right. Their personal experience and professional expertise will help guide you through the regulations without fuss.

How we can help

Private and public education

With many educational establishments facing similar financial issues, our clients benefit from our experience in advising others. For example, one major expenditure borne by educational institutions is that of wages, salaries and, increasingly, pensions: an effective framework of financial systems and controls is vital in each of these areas.

Audits

As registered auditors we act as both internal and external auditors for independent schools and academies under the guidelines set by the Secretary of State, Department for Education and Education Funding Agency.

Learn more > 

Academies

The introduction of academy status provides the school management team with the opportunity to take greater control over finances. This additional responsibility requires support from qualified professionals.

Our experience working with schools converting to academy status supports and informs those considering making the change. Insights include specialist advice on fundraising, payroll, internal and external auditVAT and the tax issues typically facing academies.

Our experts are also experienced in Free Schools and the Free School application process. Simon Webber, Partner, is a founding member of Chichester Free School and served as the finance Governor for four years, having been part of the project team that secured their funding agreement. Simon therefore has first-hand experience of the many challenges and obstacles that need to be overcome on the journey to opening a new school.

Helping throughout the academy conversion process

Currently applying

Uncertain about the regulations and the environment you are entering? Our team will be able to offer you personal and practical guidance.

Newly formed

Your new financial and governance obligations may prove unfamiliar to you. Whether it’s guiding people on their new responsibilities, advising on regulatory matters, or providing accounting, audit (both external and internal) and VAT advice, you can rely on our help to comply.

Well established

For good governance, you will be regularly reviewing your audit provision. Further change brings new challenges, and you may want advice to improve the effectiveness of your finance and back-office functions; potential or planned expansion; and developing or building properties.

Academies Benchmark Report 2019

Our Academies Benchmark Report 2019 is based on those Academies that prepared financial statements for the period ended 31 August 2018 and which were audited by member firms of Kreston UK.

Key highlights from the report include:

  • Trusts continue to show deficits with 50% showing an in-year deficit before depreciation for year ended 31 August 2018 which is slightly reduced from the 55% in 2017.
  • Staff costs have remained steady at 72% of total costs.
  • Income per pupil has remained relatively consistent with more than 95% coming from central and local government.
  • Larger, more centralised MATs are operating more efficiently, which suggest economies of scale are being realised.

To request your complimentary copy of the Report, please click here.

Close

Email Peter

  • yes I have read the terms and conditions and am happy for Kreston Reeves to use my information

Close

Email Simon

  • yes I have read the terms and conditions and am happy for Kreston Reeves to use my information

Close

Email Alison

  • yes I have read the terms and conditions and am happy for Kreston Reeves to use my information

Speak to an expert

Subscribe

Related resources

Important dates for academies – 2019/20

PDF 483k Important dates for academies – 2019/20

Download

Close

  • yes I have read the terms and conditions and am happy for Kreston Reeves to use my information

View all resources

Close

Subscribe to our newsletters

Our complimentary newsletters and event invitations are designed to provide you with regular updates, insight and guidance.

  • Business, finance and tax issues     Personal finance, tax and wealth management issues     International business issues     Charity and not-for-profit issues     
  • Academies and education     Agriculture     Financial services     Life sciences     Manufacturing     Professional practices     Property and construction     Technology     
  • yes I agree I have read and accept the privacy policy and am happy for Kreston Reeves email commmunications I have selected above

You can unsubscribe from our email communications at any time by emailing unsubscribe@krestonreeves.com or by clicking the 'unsubscribe' link found on all our email newsletters and event invitations.