In the first Labour Budget since 2010, Chancellor Rachel Reeves promised to “fix the foundations and deliver change”, announcing tax rises worth £40bn. Here's our roundup of the key highlights. 
 

The “Academies accounts direction 2021-2022” was released in March alongside the “Academies model accounts” and “Framework and guide for external auditors and reporting accountants of academy trusts”.

Following on from the publication of the Academy Trust Handbook 2021 (formerly the Academies Financial Handbook) which became more of a general governance on all areas and not just purely focusing on the finances of the trusts, there are some key points within the handbook which all Academy Trusts should be aware of and complying to. 

Moore (South) will be hosting an Academies Update Webinar covering Preparing for audit, Accounts Direction, Academies Financial Handbook, A trustee perspective, Update on internal audit scrutiny.

On the 26th April 2021 at 1.30pm we will team up with Moore ClearComm to provide a webinar on cyber security. At this webinar we will also provide our latest pulse survey results for the education sector. 

The ESF have announced that there will only be a single Academies Budget Forecast Return this year, combining the requirements of the BFR (usually required at the end of May) and BFR(3Y) (usually required at the end of July).

Following the external audit and approval of the financial statements, the next important deadline on the academy’s ‘to do lists’ are the academies accounts returns (AR).

The Academies Accounts Return 2019/20 (AAR) is now live for Academies to upload and submit their 2019/20 financial results.

The ESFA have released their annual guidance on accounts preparation for academies and Multi-Academy Trusts in the Accounts Direction 2019 to 2020.   There have been some minor changes and clarifications in this year’s publication which apply to Academy accounts for accounting periods ending 31 August 2020.
 

In response to the Covid-19 outbreak, the budget forecast return three year (BFR3Y) is the only required budget forecast to be submitted for Academies and Academy Trusts this year.

The Academies Accounts Direction (AAD) 19/20 has been published by the ESFA, you can view the direction here. Also issued is the carbon reporting. This applies to large academy trusts. Please click here to access the guidance.

The Academies Accounts Direction (AAD) 19/20 has been published by the ESFA, you can view the direction here. Also issued is the carbon reporting. This applies to large academy trusts. Please click here to access the guidance.

Academies must submit their three-year budget forecast return (BFR3Y) to the Education and Skills Funding Agency (ESFA) by 30 July 2019.
 

The ESFA have released the Accounts Direction for the Accounting Period ended 31 August 2019.  Find out what the main changes are and how these affect your statutory accounts. 

The workbook released by gov.uk includes a guidance tab to assist in the preparation of the return.

Its BFRO season.  We take a look at what’s changed.
 

The ESFA has released guidance on declaring related party transactions in advance of new reporting requirements coming into force on 1 April 2019.

From 1 April 2019, Academy trusts are required to declare all related party transactions in advance.

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.
 

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.
 

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance:
 

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance:
 

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance: