ACADEMIES ACCOUNTS CHECKLIST – Accounts direction … · Web viewNon-cash transactions - investing and financing transactions that do not require the use of cash or cash equivalents

Client Name: Accounting Period:

Changes made to Academies accounts checklist (SORP 2019) due to Covid-19 are detailed below highlighted orange.

A summary of these changes are listed here:

Within initial guidance, inserted in Example references

xi) Part 2.3.5 of the Academies Accounts Direction 2019/20 Supplementary Bulletin Reference AAD SB 2.3.5

Within the GOVERNANCE STATEMENT section, sub-question e has been amended

Review of value for money (including declaration of responsibilities and illustrative examples This must reflect cases where PPN 02/20 and PPN 04/20 have been applied and should explain situations where COVID-19 has adversely affected value for money).

Reference AAD SB 2.3.5

Within the ANALYSIS section, sub-question b has been amended

funding for the academy trust’s educational operations, identifying nature of activities and income produced (eg. DfE / ESFA grants, other government grants, exceptional government funding and other income);

Reference AAD SB 4.1

A new question has been added to the GOVERNMENT GRANT INCOME section

Where eligible costs for the financial support scheme for schools have been incurred and/or support has been claimed under the Coronavirus Job Retention Scheme and/or other funding has been received to support the trust’s COVID-19 response, the amount and nature of exceptional government funding received, or eligible for and not yet received, and associated costs (nb. costs are not required to be split out as separate line items in the notes to the accounts relating to expenditure)

Reference AAD SB 4.1

07/20 (Revised 08/20) 1-1 Academies, Section E


ACADEMIES ACCOUNTS CHECKLIST – ACCOUNTS DIRECTION 2019 TO 2020 A32-1AAD19-20

This checklist is suitable for use where an individual academy trust’s accounts for a period ending 31 August 2020 are to be prepared in accordance with Academies Accounts Direction 2019 to 2020. It is designed as an aide-memoire rather than an exhaustive document. Detailed requirements or points of interpretation should be confirmed by reference to the legislation, Accounting Standards, the Charities SORP 2019 (FRS 102) (‘the SORP’) and Academies Accounts Direction 2019 to 2020.

Notes on completing the checklist:i) Tick “Section N/A” box when the section concerns an area in which the academy trust has no disclosure to make. If this box is ticked none

of the items in that section require consideration. The section is indicated by blacked out areas in the “Section N/A” column.ii) Tick the “N/A” box if the academy trust does not have any disclosure to make on that specific point.iii) Tick the “Y” box to indicate disclosure conforms with Companies Act, Regulation, Accounting Standards, SORP and Accounts Direction.iv) Tick the “N” box if the disclosure is incorrect. Explain all no’s and, where applicable, show effect on the audit opinion.v) Items marked with a hash (#) are ‘should’ recommendations rather than ‘must’ requirements in the SORP. These disclosures are

encouraged as good practice, though a failure to follow a ‘should’ recommendation is not regarded as a departure from the SORP.

Example references:

i) Section 3.paragraph 4 of the Charities SORP: ‘Accounting and Reporting by Charities’ 2019ii) Section 3 paragraph 2 of FRS 102iii) Regulation 40 of the Charities (Accounts and Reports) Regulations 2008iv) Section 396 of the Companies Act 2006v) Section 2 of Schedule 1 of the Large and Medium-sized Companies and Groups (Accounts and Directors’ Report)

Regulations 2008 vi) Regulation 3(1) of the Large and Medium-sized Companies and Groups (Accounts and Directors’ Report)

Regulations 2008vii) Statutory instrument 2008 / 489viii) SORP Information Sheetix) Part 2.1 of the Academies Accounts Direction 2019 to 2020 x) Annex A (Model reports and financial statements) of the Academies Accounts Direction 2019 to 2020xi) Part 2.3.5 of the Academies Accounts Direction 2019/20 Supplementary Bulletinxii) Part 5.2, Academies Financial Handbook (effective 1 September 2019)

3.43.2Reg 40S3961 Sch.2

CAReg 3(1)

SI 2008/489SORP Info Sheet 5AAD 2.1AADAAD SB 2.3.5AFH 5.2

COMPLIANCEREF Section

N/AN/A Y N

GENERALCAReg 3(1) Accounts shall comply with the provisions of Schedule 1 as to form and content, with

additional information by way of notes to the financial statements.3.23.4S396(2)

Financial statements give a true and fair view of the financial position, financial performance (SoFA) and cash flows.

3.2, S396(4), 10.9

Additional information if necessary to give a true and fair view.

3.12 If length of reporting period is not 12 months, disclose:i) period covered by the financial statements;ii) reasons for using a longer or shorter period;iii) fact that comparatives are not entirely comparable;iv) legal authority academy trust has to change the reporting period.

3.12 When comparative amounts reclassified:i) nature of reclassification;ii) amount of each item or class of items reclassified;iii) reason for reclassification.

3.13 If impracticable to reclassify comparative amounts, the reasons.1 Sch.73.14, 3.14A3.49

Corresponding amounts in respect of previous period shown for all items except where standard or legislation permits or requires otherwise. This requirement applies to all disclosures additionally required by the SORP.

3.15, 3.16A Each material class of similar items presented separately in the financial statements.Items of a dissimilar nature or function presented separately unless immaterial.



N/AN/A Y N

Reg 8(2) Annual report and financial statements comprise:AAD 2.1 i) a trustees’ report;26 ii) a governance statement;

iii) a statement on regularity, propriety and compliance;iv) a statement of trustees’ responsibilities;v) an independent auditor’s report;vi) an independent reporting accountant’s assurance report on regularity;vii) a statement of financial activities (SoFA);



26 viii) a separate income and expenditure account if required;ix) a statement of financial position (balance sheet) as at the reporting date;x) a statement of cash flows for the reporting period;xi) notes, comprising a summary of significant accounting policies and other explanatory

information.3.21 Each financial statement presented with equal prominence.1 Sch.1(1)1 Sch.2

Financial statements comply with one of the prescribed formats (reasons for changing).

3.23 Clearly identify each of the financial statements and the notes and distinguish them from other information in the same document. Prominently display the following:i) name of reporting academy trust and any change in name since comparative period;ii) whether the financial statements cover the individual academy trust or a group of

entities;iii) date of the end of the reporting period and period covered by the financial statements;iv) presentation currency;v) level of rounding.

3.24 In notes, the academy trust’s:S396(A1) i) legal form, including:

a) whether limited by shares or by guarantee;b) whether a public or private company;c) whether being wound up.

ii) country of incorporation (and part of the UK in which registered);iii) address of registered office;iv) place of business, if different from registered office;v) description of nature of the academy trust’s operations and its principal activities

(unless disclosed elsewhere).TRUSTEES’ REPORTGENERALWhere the trustees are the same body of people as the governors, the terms ‘directors’, ‘trustees’ and ‘governors’ are interchangeable. Where the trustees are not the same body of people as the governors, the word ‘trustees’ should be used where a statutory statement is made.

AAD 3.1.101.8, Reg40(2)(c)(iii)

The trustees’ report (incorporating the directors’ report and strategic report), statement of trustees’ responsibilities and financial statements to be signed and dated by one or more authorised trustees (usually the chair).

S414D S419(1)S446(3)

Name of director/secretary who signs the report on behalf of the board of directors.

15.6 Combined annual report (e.g. Directors’ report and trustees’ annual report) states inclusion of the directors’ report as required by company law.

AAD REFERENCE AND ADMINISTRATIVE DETAILS1.27 Name of the academy trust and any other name in which is it known.

Company registration number.Address of principal office and registered office.

AAD 3.1.12 Names of members in the period and at the report approval date.Details of members’ liability.

S416(1)(a) Names of trustees and directors in the period and at the report approval date.If corporate trustees, names of directors of the body corporate at the report approval date.Names of trustee(s) holding title to property belonging to the academy trust at the report approval date or who served as a trustee for the academy trust in holding title in the reporting period.



N/AN/A Y N

1.52 Who the trustees delegate day-to-day management to and are taking advice from, including: i) name of any chief executive officer / principal / accounting officer and other senior

management personnel on the date the report was approved and in the period;ii) names and addresses of other relevant organisations or persons providing banking

services or professional advice to the academy trust, including solicitors, auditor and investment advisers.

AAD STRUCTURE, GOVERNANCE AND MANAGEMENT1.25 Nature of governing document and how the academy trust is constituted.

Methods used to recruit and appoint new trustees, including any constitutional provisions for appointment.

S236 Where external body/person entitled to appoint trustees, explain and give name. #



1.51 Organisational structure and how the academy trust makes decisions.Policies and procedures for induction and training of trustees.

AAD 3.1.12 Arrangements for setting pay and remuneration of key management personnel (per reference and administrative details) and any benchmarks, parameters or criteria used.If part of a wider network, how this impacts on operating policies adopted (eg. a soft federation).

AAD 7.3.7 Relationships with related parties and any other charities and organisations with which it co-operates in the pursuit of its charitable objectives (including subsidiaries, other academies or schools, the presence of connected charities and the role and contribution of sponsors, other than where the MAT is the sponsor).

Reg 40(2)(b)(ii)

Statement confirming major risks have been reviewed and systems or procedures have been established to manage those risks.

SI 2017/328

Where an academy trust has more than 49 full-time equivalent employees throughout any seven months within the relevant period (1 April to 31 March), disclosures in accordance with the Trade Union (Facility Time Publication Requirements) Regulations 2017 (SI 2017/328). As it applies to the academy trust: i) the total number of employees who were relevant union officials during the relevant

period and the full-time equivalent number;ii) the number of employees who were relevant union officials during the relevant period

that spent a) 0%, b) 1%-50%, c) 51%-99%, d) 100% of their working hours on facility time;

iii) the total cost of facility time, total paybill and percentage of total pay bill spent on paying employees who were relevant union officials during the relevant period (government guidance encourages inclusion of funding an entity provides under a cost sharing arrangement even though it may not be employing the union rep in question when calculating the total cost of facility time);

iv) as a percentage of total paid facility time hours, hours spent by employees who were relevant union officials during the relevant period on paid trade union activities.

AAD OBJECTIVES AND ACTIVITIES1.17 Purposes of the academy trust (per governing document) and main activities undertaken in

relation to those purposes.1.18 Explain activities, projects or services identified. Where practicable numerical information on

resources spent on particular activities consistent with accounts analysis. #1.36 Aims, including details of issues / changes it seeks to tackle / make.AAD 3.1.4, How the achievement of its aims will further its purposes.4.1.12 Strategies for achieving its stated aims and objectives.

Criteria or measures it uses to assess success in the reporting period.1.41 Significant activities undertaken. How they contribute to achievement of aims and

objectives.1.3821.39

Social investment policies (if material). How programme related and mixed motive investments contribute to achievement of aims and objectives (policy for their use).Grant-making policy (if material). How activities contribute to achievement of aims and objectives.Significance of volunteers in its activities.

1.18, AAD Public benefit (PB):AAD 3.1.22-23Reg

i) main activities undertaken to further the academy trust’s purposes for the PB;

40(2)(c)(ii) ii) that the trustees have had regard to CCs guidance on PB;AAD 3.1.24 iii) brief reference to catchment area and the basis on which pupils are admitted.#1.37 Details of short-term and longer-term aims and objectives. Where longer-term aims and

objectives, how those set for the reporting period relate to longer-term. #



N/AN/A Y N

S414C15.7, 15.8AADAAD 3.1.8

STRATEGIC REPORTInclude a clearly delineated section heading within trustees’ annual report. Content covering the following requirements should be included in the Achievements and Performance, Financial Review and Principal Risks and Uncertainties sub-sections of the report.Fair review of the business.Balanced and comprehensive analysis of development and performance during the year [incorporated within Achievements and Performance].Analysis using financial key performance indicators [incorporated within Achievements and Performance].Analysis using other key performance indicators where appropriate (including environmental and employee matters) [included within Achievements and Performance].



Balanced and comprehensive analysis of the position at the end of the year [included within Financial Review].Description of principal risks and uncertainties [incorporated within Structure, Governance and Management].

7 Sch.1A Items required under Schedule 7 below to be disclosed in the directors’ report may be contained within the strategic report. However, the directors’ report must state this and the information so included.References to and additional explanations of amounts included in the accounts.

S414CZA [For large academies only] A ‘Section 172(1) statement’ which describes how the trustees/directors have had regard to the matters set out in S172(1)(a) to (f) when performing their duty under S172.

15.9, SORP Info Sheet 5

Trustees must include a clear statement to approve the Strategic Report in their capacity as company directors.

AAD ACHIEVEMENTS AND PERFORMANCE1.20 Summary of main achievements.

Difference made to beneficiaries and, if practicable, wider society. #1.41 Significant charitable activities and achievements against objectives.

Performance of material fundraising activities objectives.21.39 Where material financial investments, investment performance against objectives (including

programme related and mixed motive investments.Where material expenditure incurred to raise future income, impact on net return from fundraising on current and future periods.

1.42 Balanced picture of the academy trust’s progress against its objectives. #1.44, AAD Key performance indicators explaining outputs achieved by activities. #1.45 Significant positive and negative factors that affected the achievement of objectives and

how future plans affected. #AADAAD 6.2.7

Trustees’ statement on the academy trust’s ability to continue as a going concern.

AAD FINANCIAL REVIEW1.21 Review of financial position at the end of the reporting period.1.46 Significant events that have affected financial performance and financial position during the

period, including:1.46 i) financial effect of significant events;

ii) where material financial investments, investment policy and objectives set;AAD iii) principal risks and uncertainties and summary of plans and strategies for managing the

risks;iv) factors likely to affect future financial performance or position.

AAD In-year surplus or deficit figure and the actual position of reserves (restricted general funds, excluding pension reserve, plus unrestricted funds).

1.47 Principal funding sources and how they support key objectives. #AAD 3.1.20 Impact of material defined benefit pension liability/asset on financial position. #AAD Where material financial investments, extent to which social, environmental or ethical

considerations taken into account in investment policy. #1.23, AAD If going concern uncertainties at reporting date, nature of uncertainties. #1.24 Where any fund materially in deficit, circumstances and steps being taken to eliminate.AAD Reserves policy, including:

1.22AAD 3.1.15

i) amount of reserves and why held. If trustees have decided that holding reserves is unnecessary, this fact and reasons;



N/AN/A Y N

1.48 ii) amount of the total funds held; #iii) amount of restricted funds; #

AAD 3.1.16 iv) identify and explain any material amounts designated or otherwise committed and indicate expected timing of expenditure; #

v) amount of and fund that can only be realised by disposing of tangible fixed assets or programme related investments; #

vi) amount of reserves after making allowance for (iii) to (v) above; #vii) compare the amount at (vi) with reserves policy. Explain steps to bring amount of

reserves held into line with amounts identified by trustees as appropriate. #AAD3.1.17 viii)plans for future use of reserves including purpose and likely timing; # AAD 3.1.18 ix) trustees may also disclose their policy in relation to other reserves (eg. restricted

general funds including GAG);AAD 3.1.20 x) explanation where significant pension scheme liability / asset. #

AADFUND-RAISING STANDARDS INFORMATIONWhere an academy trust does not carry out significant fundraising activities, the report



should include a statement of that fact together with any useful information relevant to the legal requirements. For suggested wording, see the AAD model accounts.

Charities Act 2011 s162A

Where the academy trust (or any person on behalf of the academy trust) raises funds from the public, statement of each of the following for that year:

AAD 3.1.12 i) approach taken for the purpose of fundraising, in particular whether a professional fundraiser or commercial participator carried on those activities;

ii) whether subject to an undertaking to be bound by any voluntary scheme for regulating fundraising, or voluntary standard of fundraising (provide details of scheme or standard);

iii) any failure to comply with scheme or standard in (ii);iv) whether and how the academy trust monitored fundraising activities carried out on

behalf of the academy trust;v) the number of complaints received for the purpose of fundraising;vi) what the academy trust has done to protect vulnerable people against unreasonable

intrusion of privacy, unreasonably persistent approaches and placing undue pressure on a person to give money or other property.

AAD FINANCIAL INSTRUMENTS7 Sch 6 Where material to assessment of assets, liabilities, financial position and surplus/deficit, an

indication of the financial risk management objectives and policies and the exposure to price, credit, liquidity and cash flow risk.

AAD PLANS FOR FUTURE PERIODS7 Sch.7 Important events occurring since the period end.1.49 Future plans including aims and objectives activities planned to achieve them.1.50 Future direction including how experiences from past or current activities have influenced

future plans and decisions about allocating resources to best effect. #AAD FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS (or in notes)1.32 Description of assets, classes / categories of assets held in this category.19.13 Name and objects of the on whose behalf assets are held and how the activity falls within

the custodian’s objects.Details of arrangements for safe custody and segregation of from own assets.PERMANENT ENDOWMENT INVESTED ON TOTAL RETURN BASIS

20.12 Date that initial value of trust for investment and initial value of unapplied total return established.Policy used to identify initial amounts of trust for investment and any unapplied total return. Date analysis performed.Policies used and factors considered in determining ‘the trust for application’ and any amounts allocated to the trust for investment in the period;Policies used and factors considered in determining the amount of ‘trust for investment’ allocated to the unapplied total return or any recoupment made from the unapplied total return into the trust for investment in the period.Name and professional qualifications of any person who has provided advice to the academy trust’s trustees as to the amount that can be allocated to income and/or the trust for investment from the unapplied total return in the reporting period.



N/AN/A Y N

ENGAGEMENT WITH EMPLOYEES7 Sch.11AAD 3.1.12

Where the average number of employees exceeds 250, a statement:

i) describing the action taken during the year to introduce, maintain or develop arrangements aimed at:a) providing employees systematically with information on employee matters of

concern;b) consulting employees or their representatives on a regular basis so that their

views can be taken into account in making decisions which affect their interests;c) encouraging the involvement of employees in the academy's performance; andd) achieving a common awareness on the part of all employees of the financial and

economic factors affecting the performance of the academy.ii) summarising how the trustees have engaged with employees and had regard to

employee interest, including its effect on the principal decisions taken during the year.DISABLED EMPLOYEES

7 Sch.105 Sch.5AAD 3.1.14

Where the average number of employees exceeds 250 state the policy regarding disabled persons.i) full and fair consideration of applicants for employment of disabled persons, having

regard to their aptitudes and abilities;ii) continued employment and training of persons who become disabled;iii) training, career development and promotion of disabled persons employed by the



academy.ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS IN A BUSINESS RELATIONSHIP [For large academies only]

7 Sch.118AAD 3.1.12

A statement summarising how the trustees have had regard to the need to foster business relationships with beneficiaries, funders, suppliers, parents and others, including its effect on the principal decisions taken during the year.

7 Sch.3-4 POLITICAL DONATIONS AND EXPENDITURE (N/A to wholly owned subsidiaries of UK incorporated companies)

5 Sch.2 Where total political donations/expenditure exceeds £2,000:i) donations - total amount given to each named party/organisation/independent

candidate;ii) expenditure - total amount incurred.

5 Sch.3 Total contributions (including cash gifts, expenses paid or subscription or other fees paid) to non-EU political parties whether directly or indirectly. RESEARCH AND DEVELOPMENT

7 Sch.7 The report should include a description of the nature of any research and development activities.

AAD 3.1.12, 3.1.25-32

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION & ENERGY EFFICIENCY [For large academies only where consumption is 40,000 kWh or more of energy] [Comparatives not required in first year]

7 Sch.20D(1)AAD 3.1.25

State the UK annual quantity of emissions in tonnes of carbon dioxide equivalent resulting from activities for which the academy is responsible involving:

i) combustion of gas;ii) consumption of fuel for the purposes of transport.

7 Sch.20D(2)

State the UK annual quantity of emissions in tonnes of carbon dioxide equivalent resulting from the purchase of electricity for its own use, including for the purposes of transport.

7 Sch.20D(3)

State an aggregated figure in kWh of:

i) the UK annual quantity of energy consumed from activities for which the academy is responsible involving:a) combustion of gas; orb) consumption of fuel for the purposes of transport.

ii) the UK annual quantity of energy consumed resulting from the purchase of electricity by the academy for its own use, including for the purposes of transport.





N/AN/A Y N

7 Sch.20F State methodologies used to calculate the information disclosed under 7 Sch. 20D (1)-(3)7 Sch.20GAAD 3.1.25

State at least one intensity ratio which expresses the academy’s annual emissions in relation to a quantifiable factor associated with the academiey’s activities (for consistency, tonnes of CO2e per pupil is encouraged by ESFA).

7 Sch.20D(4)

If the academy has taken any measures for the purpose of increasing the academy’s energy efficiency, a description of the principal measures taken.

7 Sch.20D(6)AAD 3.1.29

Where it is impractical to obtain all or some of the above data (7 Sch.20D(1)-(4)), it must be stated what information is not included and why.

7 Sch.20D(7)AAD 3.1.28

[For large academies where consumption is less than 40,000 kWh of energy] A statement that greenhouse gas emissions, energy consumption and energy efficiency disclosures not given for that reason. OTHER

S236AAD 3.1.12

Where any qualifying third party indemnity provision is in force at the time of approval of the report or during the period, for the benefit of one or more directors, this fact.

S418(2) Statement that for all directors at the time of approval of the report:AAD i) the auditors are not unaware of any relevant audit information;

ii) all appropriate steps have been taken to establish this.AAD GOVERNANCE STATEMENTAAD 3.2.1-3.2.14

Scope of responsibility.

Statement that the trustees have reviewed and taken account of the guidance in the DfE’s Governance Handbook and the competency framework for governance.

AFH 2.48Governance (including: committee structure; key changes in composition; attendance records; performance; effectiveness; challenges faced; coverage of work; acceptability of data used by the board; detail on reviews of effectiveness and planned reviews).

AFH 2.3 If the board meets less than six times a year, a statement of how it maintained effective oversight of funds.

AAD SB 2.3.5

Review of value for money (including declaration of responsibilities and illustrative examples This must reflect cases where PPN 02/20 and PPN 04/20 have been applied and should explain situations where COVID-19 has adversely affected value for money).Purpose of the system of internal control.Capacity to handle risk.

AFH 3.21 Risk and control framework (including a description of the internal scrutiny function and, where applicable, how arrangements are affected by the FRC Ethical Standard 2019).Review of effectiveness.

AAD 3.2.1 Statement to be signed and dated on behalf of the board of trustees by a trustee (usually the chair) and accounting officer.

AAD STATEMENT ON REGULARITY, PROPRIETY AND COMPLIANCE(See example in section C of this manual.)

AAD 3.3.1-3.3.2

Consideration of accounting officer’s responsibilities.

Confirmation of accounting officer and trustees’ ability to identify material or improper use of funds or non-compliance.Confirmation that no instances identified / identified issues have and will be reported (analysed between financial and non-financial issues, with the relevant monetary amounts if known).

AAD 3.3.1 Statement to be signed and dated by the accounting officer.AAD STATEMENT OF TRUSTEES’ RESPONSIBILITIES

(See example in section C of this manual.)FRC BulletinAAD 3.4.1-3.4.4

Trustees’ statutory responsibilities.Financial reporting framework including the Annual Accounts Direction issued by ESFA.Responsibility for ensuring financial and other controls conform with the requirements both of propriety and of good financial management.Responsibility for ensuring grants received from the ESFA/DFE used for the purposes intended.Responsibility for ensuring maintenance and integrity of corporate and financial information on the academy trust’s website.

AAD 3.4.4 Statement signed and dated on behalf of the board by a trustee (usually the chair).



N/AN/A Y N



AAD AUDITOR’S REPORT (See example in section C of this manual.)

ISA 700AAD 4.1.1-4.1.5AAD

The audit report includes all the separate sections appropriately headed as required by the FRC Bulletin, company and charity law and other guidance in the order required by ISA (UK) 700 (eg. first section is the opinion).

ISA 570 Conclusions relating to going concern.ISA 720 Statement on other information.PAASE If applicable, reference to FRC Ethical Standard section 6 on Provisions Available for

Audits of Small Entities (both here and in a note to the accounts).S498(4) Where the required disclosure on directors’ benefits, remuneration, pensions and

compensation for loss of office are not complied with in the accounts, the report must include required particulars, so far as is reasonably possible.

AAD REPORTING ACCOUNTANT’S ASSURANCE REPORT ON REGULARITY (See example in section C of this manual.)

AAD 4.2.1AAD

The reporting accountant’s report on regularity should include all the separate sections appropriately headed in accordance with the terms of engagement and other relevant guidance.

AAD STATEMENT OF FINANCIAL ACTIVITIES (SoFA)GENERAL

15.12, AAD Heading of SoFA should also refer to income and expenditure account.2.274.9-4.10

Each type of fund is summarised on the SoFA and each row of the SoFA is analysed between classes of funds. Generally columns representing the following funds:

AAD 5.1.6-5.1.13

i) unrestricted fund(s);ii) restricted general fund(s);iii) restricted fixed asset fund(s);

AAD 5.1.11 iv) endowment fund(s), where appropriate.4.11 Where classes of funds combined on grounds of materiality, headings amended as

applicable.4.13 Where additional SOFA columns to present material funds / activities on face of statement,

class of fund in column title.4.2, 4.8 Corresponding information for all amounts presented in the SoFA:

i) total funds must be presented on the face of the SoFA; AAD 6.8.1 ii) separate classes of funds may be presented either on the face of the SoFA or notes (eg.

replication of prior year SOFA in notes or separate disclosure within each of the relevant notes).

4.8 If formats are changed, explanation.2.26, 4.60 Total transfers recorded between classes of fund in the period net to nil.4.53 Additional sub-headings to reflect nature of activities added to charitable activities to

identify activities stated in trustees’ report. #4.14-4.154.25 4.47 4.56

Material item(s) of income or expenditure separately disclosed on face of SOFA or in notes when relevant to an understanding of performance and to give a true and fair view.

4.65 Additional headings to report other gains or losses recognised outside of an academy trust’s income and expenditure account.ANALYSIS OF INCOME AND EXPENDITURE

Table 24.12AAD 5.1.3, 5.1.7-5.1.38

SOFA prepared on an activity basis (NB additional subtotals may be used and the order can vary), analysis of:

i) Income and endowments from:AAD - Donations and capital grants.

- Charitable activities:- Funding for the academy trust’s educational operations.- Other (description linked to other charitable objects).- Provision of boarding activities.- Teaching schools.

- Other trading activities.4.37 - Investments.

- Other.- Total income and endowments.

ii) Expenditure on:- Raising funds.





N/AN/A Y N

- Charitable activities:- Academy trust educational operations.- Other (description linked to other charitable objects).- Grants.- Provision of boarding activities.- Teaching schools.

- Other.- Total expenditure.

iii) Net gains / losses on investments.15.12 iv) Net income / expenditure.AAD 5.1.29-5.1.35

v) Transfers between funds.

AAD 5.1.2 vi) Other recognised gains / losses:- Gains / losses on revaluation of fixed assets.

17.14 - Actuarial gains / losses on defined benefit pension plans.AAD 5.1.36-5.1.38

- Other gains / losses.

15.12 vii) Tax on activities.viii)Net movement in funds.

AAD 5.1.2 ix) Reconciliation of funds:- Total funds brought forward.- Total funds carried forward.

4.28 Income analysed according to activity that produced the resources and expenditure by nature of the activities undertaken.

4.29 Expenditure analysis headings support relationship with income from that activity.#4.5, 8.6 Amounts recorded consistent with activities reviewed in the trustees report. #

DISCONTINUED OPERATIONS4.21 Analysis of continuing and discontinued operations through additional column(s) on a line

by line basis. (See also ‘Academy conversions and transfers’ section).5.7D An amount comprising the total of:

i) post-tax income or expenditure of discontinued operations;ii) post-tax gain or loss attributable to impairment or disposal of assets or disposal

group(s) constituting discontinued operations.SUMMARY INCOME AND EXPENDITURE ACCOUNT (if required)

Table 11 The summary income and expenditure account shows:15.13 i) Income.

ii) Gains / losses on investments.iii) Interest and investment income (or in notes).iv) Gross income.v) Expenditure.vi) Interest payable (or in notes).vii) Depreciation and impairment of fixed assets (or in notes).viii) Total expenditure.ix) Net income / expenditure before tax.x) Tax payable.xi) Net income / expenditure.

15.15 Adapt headings and sub-headings used to reflect the special nature of its activities.AAD BALANCE SHEETAAD 5.2.1-5.2.6, Table 5

The balance sheet shows:

10.6 i) Fixed assets:- Intangible assets.- Tangible assets.

18.12 - Heritage assets.- Investments.

ii) Current assets:- Stocks.- Debtors.- Investments.- Cash at bank and in hand.





N/AN/A Y N

iii) Liabilities10.80 - Creditors: Amounts falling due within one year.

iv) Net current assets.v) Total assets less current liabilities.

10.80 vi) Creditors: Amounts falling due after more than one year.7.29, 10.80 vii) Provisions for liabilities.

viii) Net asset or liabilities excluding pension asset / liability.ix) Defined benefit pension scheme asset / liability.x) Net assets / liabilities.xi) Funds of the academy trust:

- Restricted funds:- Fixed asset fund.- Restricted income fund.- Pension reserve.- Total restricted funds.

- Unrestricted funds.- Total funds.

10.6 Comparative amounts for each heading above and a statement in the notes explaining special reasons where format changed.

1 Sch.9A Where an asset or liability relates to more than one item in the balance sheet, the relationship under those items or in the notes.

Registrar’s Rules

Where these accounts are to be filed at Companies House, company name and number on one of the composite documents of the accounts (eg. balance sheet).

Reg 8(11)10.8AAD 5.2.2

Balance sheet to be signed by one or more authorised trustees (a director, usually the chair) and to specify the date of approval of accounts by the trustees.

AAD STATEMENT OF CASH FLOWS14.6 Statement of cash flows that presents cash flows for a reporting period classified by:Table 8 i) Operating activities.AAD 5.3.1-5.3.3

ii) Investing activities.

iii) Financing activities.14.14AAD 5.3.2

Analysis of cash flows from operating activities reported using the direct method and other activities where applicable.

14.17 Reconciliation of net income / expenditure in the SoFA to cash flows from operating activities.

7.20 Components of cash and cash equivalents.14.1714.22AAD 5.3.2

Reconciliation of amounts presented in the statement of cash flows to equivalent items presented in the balance sheet where amounts different.

14.20 When significant cash or cash equivalents are held which are not available for use to further charitable activities, amounts unavailable and explanation.

7.107.10A

Cash receipts and payments arising from investing and financing activities reported separately for each major class on a gross basis, except for the following which may be reported on a net basis:i) cash receipts and payments on behalf of customers when cash flows reflect activities

of the customer rather than the academy trust;ii) cash receipts and payments for items in which turnover is quick, amounts are large,

and maturities are short.Separate disclosure of:

7.10 i) aggregate cash flows arising from acquisitions and from disposals of branches within investing activities;

14.18 ii) unrealised gains or losses arising from changes in foreign currency exchange rates;7.14 iii) cash flows from interest and dividends received and paid;14.19 iv) cash flows arising from income tax within cash flows from operating activities unless

specifically identified with financing and investing activities. When tax cash flows are allocated over more than one class of activity, the total amount of taxes paid.

7.18 Non-cash transactions - investing and financing transactions that do not require the use of cash or cash equivalents excluded from statement of cash flows but relevant information in a note to the accounts.

14.17A Table 10A 7.22AAD 5.3.2

An analysis of changes in net debt from the beginning to the end of the reporting period (no comparatives required), showing changes resulting from:(NB. Not applicable to most academies) i) cash flows of the entity;





N/AN/A Y N

ii) acquisition and disposal of subsidiaries;iii) new finance leases.iv) other non-cash changes;v) recognition of changes in market value and exchange rate movements.Sufficient detail to enable the components of opening and closing net debt to be identified on the balance sheet.

AAD NOTES TO THE FINANCIAL STATEMENTSAAD 6.1.18.2

The notes include financially significant information:i) about basis of preparation of the financial statements and specific accounting policies;ii) required by accounting standards not presented elsewhere in the financial statements;iii) not presented elsewhere in the financial statements but relevant to understanding.

8.3Notes presented in a systematic manner cross-referencing each item in the financial statements to related information in the notes.

8.4 Notes normally presented in the following order:3.37 i) statement that the financial statements prepared in compliance with FRS 102;

ii) statement that the financial statements prepared in compliance with SORP (FRS 102);iii) summary of significant accounting policies applied;iv) statement that the financial statements prepared in accordance with applicable charity

and company law;1 Sch.42 v) supporting information for items presented in the financial statements, in the sequence

in which each statement and each line item is presented;vi) any other disclosures.

AAD ACCOUNTING POLICIES, ESTIMATES AND ERRORSGENERAL

8.5 In the summary of significant accounting policies:3.17, 3.23, 3.37

i) the measurement basis (or bases) used in preparing the financial statements; and

AAD 6.2.61 Sch.44

ii) the other accounting policies used that are relevant to an understanding of the financial statements.

1 Sch.45Reg 4(2A)

That the accounts have been prepared in accordance with applicable accounting standards (give particulars and reasons for departures).

AAD 6.2 NB. Accounts Direction includes guidance on accounting policies in the following areas: critical accounting estimates and areas of judgement, basis of preparation, going concern, income, expenditure, intangible fixed assets, tangible fixed assets, leasing, investment assets (excluding certain social investments), stock, pension benefits, provisions, contingent liabilities, contingent assets and funds.

3.40AAD

Judgements, apart from those involving estimations, made in applying the academy trust’s accounting policies and having the most significant effect on the amounts recognised in the financial statements.Key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, including:i) their nature;ii) their carrying amount as at the end of the reporting period.

35.15 If the academy trust did not present financial statements for previous periods, that fact.COMPLIANCE WITH FRS 102

AAD 6.2.6 A statement of compliance with the Academies Accounts Direction.3.37 AAD

An explicit and unreserved statement of compliance with FRS 102 in the notes.

3.40 An explicit and unreserved statement that the academy trust is a public benefit entity.3.413.4-3.6

If compliance with legislation or accounting standards inconsistent with the requirement to give a true and fair view, particulars of departure, reasons and effect in a note, including:

S396(5) i) trustees concluded that the financial statements give a true and fair view;1 Sch.10 ii) complied with accounting standards and applicable legislation, subject to departure;

iii) where current or prior year departure affects amounts recognised in current period financial statements: nature and effect of departure, treatment under accounting standards or applicable legislation, reason why treatment misleading and treatment adopted.

3.42 Where a material departure from requirements of the SORP:i) brief description of departure and reasons;ii) brief details of disclosures not provided and reasons;iii) if to show a true and fair view, the effect.



ACADEMIES ACCOUNTS CHECKLIST – ACCOUNTS DIRECTION 2019 TO 2020 A32-12AAD19-20 COMPLIANCE

REF SectionN/A

N/A Y N

CHANGE IN ACCOUNTING POLICY10.13 When an amendment to an FRS or FRC Abstract has an effect on the current or any prior

period, or might have an effect on future periods, in the period of change:i) nature of the change in accounting policy;ii) for the current period and each prior period presented, to the extent practicable,

amount of adjustment for each financial statement line item affected;iii) amount of adjustment relating to periods before those presented, to the extent

practicable;iv) explanation if impracticable to determine amounts in (ii) or (iii) above.

3.443.45

When a voluntary change in accounting policy has an effect on the current period or any prior period, in the period of change:i) nature of the change in accounting policy;

10.10 ii) reasons why new accounting policy provides reliable and more relevant information;iii) to the extent practicable, amount of adjustment for each financial statement line item

affected, shown separately for:a) current period;b) each prior period presented;c) in aggregate for periods before those presented;

iv) explanation if impracticable to determine amounts in (iii) above.CHANGE IN ESTIMATE

3.46 Nature of any change in accounting estimate, effect in current period and, if practicable, the estimated effect in one or more future periods.PRIOR PERIOD ERRORS

3.47 Material prior period errors (no comparatives required):3.48 i) nature;

ii) for each prior period presented, to the extent practicable, amount of correction for each financial statement line item affected;

iii) to the extent practicable, amount of correction at the beginning of the earliest prior period presented;

iv) explanation if impracticable to determine amounts in (ii) or (iii) above.GOING CONCERN

AAD 6.2.7 AAD

Brief explanation as to the factors that support use of going concern basis.

3.38 Material uncertainties related to events or conditions that may cast significant doubt upon the entity’s ability to continue as a going concern. Should include:i) explanation of factors supporting use of going concern basis; #ii) balanced, proportionate and clear disclosure of uncertainties. #

3.39 Where no material uncertainties exist, this fact. #3.9, 13.6 If financial statements are not prepared on a going concern basis, disclose:

i) this fact; ii) basis on which prepared; iii) reason why not regarded a going concern.

AAD 6.2.8-6.2.11

INCOME

5.5623.30AADAAD 6.2.8

Policies adopted for the recognition of income, including if relevant the methods adopted to determine the stage of completion of transactions involving the rendering of services (specific reference should be made to the treatment of GAG, capital grants and grants with specific performance conditions).

6.31AAD 6.2.9-6.2.10, 6.2.15

Recognition and valuation of donated goods, facilities and services;

24.6 Policy adopted for government grants (ie. performance model).AADAAD 6.2.8

ESFA Free School / Priority Schools Building Programme income / asset recognition.

10.67 Measurement basis (or bases) for debtors. 8.10.3 Nature and treatment of agency arrangementsAAD 6.2.12 EXPENDITURE10.81 Recognition and measurement basis (or bases) for creditors and provisions.8.13 Policy for categorisation of expenditure and apportionment and allocation of costs between

activities and estimation techniques used.AAD 6.2.13 INTANGIBLE FIXED ASSETS10.24 For each class of intangible assets:

i) measurement basis (or bases) adopted;





N/AN/A Y N

1 Sch.21-22

ii) useful lives or amortisation rates used and reasons;iii) amortisation methods;

AAD 6.2.13 iv) capitalisation limit (if any) and impairment review policy.AAD 6.2.18 FIXED ASSETS MEASURED AT REVALUED AMOUNTS1 Sch.34 Items affected and basis of valuation where:

i) investments in subsidiaries, associates and joint ventures held at fair value with changes recognised in other comprehensive income;

ii) tangible fixed assets (not biological assets) revalued using the revaluation model;iii) intangible assets other than goodwill revalued using the revaluation model. FAIR VALUE MEASUREMENT (DOES NOT NEED TO BE INCLUDED IN A/C POLICIES)

1 Sch.55 Where financial instruments or other assets subsequently accounted for at fair value through profit or loss (including investments, investment property, certain stocks, biological assets and derivatives): i) significant assumptions underlying the valuation models and techniques used to

determine the fair values; ii) fair value of the assets in each category and the change in value;

a) included in net income/expenditure; orb) credited to / debited from the fair value reserve.

iii) for each class of derivative, the extent and nature, including significant terms and conditions that may affect the amount, timing and certainty of cashflows.

AAD 6.2.14-6.2.19

TANGIBLE FIXED ASSETS NB. Also includes investment property included at cost (eg. rented within group)

10.37 For each class of tangible fixed assets:i) measurement basis (or bases) used for determining the gross carrying amount;ii) depreciation method and useful lives or depreciation rates;

1 Sch.44 iii) diminution method.AAD 6.2.14, 6.2.16, 6.2.19

iv) capitalisation limit, the policy for assets under construction, accounting for assets funded by grants and impairment review policy.

LONG TERM LEASEHOLD AND OTHER PREMISES OCCUPANCY ARRANGEMENTSAAD 7.8.5 Where premises subject to long term leasehold or other occupancy arrangements (eg.

occupation under licence):i) nature and description of occupancy arrangements;ii) amounts included in income and/or expenditure, including (as applicable) the use of

future notional donation and rental expense if no rent paid during notice period;iii) basis of valuation;

AAD 7.4.5 iv) for premises occupied under a licence, how improvements have been treated.(See also ‘Donated goods, facilities or services’ section.)SHORT TERM LEASEHOLD PREMISES

AAD 7.8.7 Accounting arrangements where premises subject to short term leasehold.(See also ‘Donated goods, facilities or services’ section.)HERITAGE ASSETS

18.21 Policy for acquisition, preservation, management and disposal of heritage assets including details of the measurement bases used.Description of the records maintained by the academy trust of its collection of heritage assets and information on the extent to which access to the assets is permitted.FINANCIAL INSTRUMENTS

11.35AAD

Measurement basis (or bases) and other accounting policies used for financial instruments. (See also ‘Basic and other financial instruments’ section - due to nature of instruments held, these disclosures are usually also included in the accounting policy note).

AAD 6.2.21 INVESTMENTS10.53 Policies adopted for investments including measurement basis (or bases).28.18 Policy election for investments in associates.29.19 Policy for recognising investments in jointly controlled entities.21.40 Policy for programme related investments and mixed motive investments including

measurement basis and other relevant information.10.72 Measurement basis (or bases) for current asset investments and how the academy trust

has defined any short-term, highly liquid investments as current asset investments.CASH

10.75 How the academy trust has defined any short-term, highly liquid investments included as cash at bank and in hand.

ACADEMIES ACCOUNTS CHECKLIST – ACCOUNTS DIRECTION 2019 TO 2020 A32-14AAD19-20COMPLIANCE

REF SectionN/A

N/A Y N



STOCKS10.63AAD 6.2.22

Policies adopted in measuring stocks, including cost formula used (ie. FIFO).

TAXATIONAAD Policy for corporation tax status

PENSION BENEFITSAAD 6.2.23 Policy adopted in relation to the Teacher Pension and Local Government Pension

schemes.CONCESSIONARY LOANS

PBE34.95 Measurement basis (or bases) and other relevant policies for concessionary loans.REDUNDANCY / TERMINATION PAYMENTS

9.27 Accounting policy for redundancy or termination payments in the period.FUNDS

AAD 6.2.29 Brief description of types of fund held including policy for transfers between funds and allocations to or from designated funds.EXEMPTION FROM CONSOLIDATION

AAD 7.2.9 Grounds on which group accounts not prepared, as applicable.AGENCY ARRANGEMENTS

AAD 7.11.3 Accounting policy for agency arrangements. AAD STATEMENT OF FINANCIAL ACTIVITIES NOTES

INCOMEAAD 6.2.2 GENERAL ANNUAL GRANTAAD 7.6.4 For academies subject to GAG carry-forward limits, a description of the limits and a

statement confirming whether the limits have been exceeded.AAD ANALYSIS4.42 Analysis of material components of income included within each heading of the SoFA

(aggregate by similar activities). Analysis of:AAD 5.1.191 Sch.68

i) donations and capital grants (and legacies, as applicable), distinguishing between the types of gift / grant receivable (eg. capital grants, donated fixed assets, other);

AAD SB 4.1

ii) funding for the academy trust’s educational operations, identifying nature of activities and income produced (eg. DfE / ESFA grants, other government grants, exceptional government funding and other income);

iii) income from teaching school activities (see also Teaching School Trading Account);iv) income from other trading activities, identifying nature of trading / fundraising activity

and income produced (eg. hire of facilities);v) investment income distinguishing between each class of investment disclosed (eg.

short term deposits);vi) nature and amount of other income receivable. #

23.30 Analysis identifies: sale of goods; rendering of services; interest; royalties; dividends; commissions; grants; and other significant types of revenue.

AAD GOVERNMENT GRANT INCOME5.58 Nature and amounts.

Unfulfilled conditions and other contingencies attaching to grants recognised in income.Indication of other forms of government assistance where academy trust directly benefited.

AAD SB 4.1 Where eligible costs for the financial support scheme for schools have been incurred and/or support has been claimed under the Coronavirus Job Retention Scheme and/or other funding has been received to support the trust’s COVID-19 response, the amount and nature of exceptional government funding received, or eligible for and not yet received, and associated costs (nb. costs are not required to be split out as separate line items in the notes to the accounts relating to expenditure)DONATED GOODS, FACILITIES OR SERVICES

6.19, 6.31 Description of the role played and nature of contributions by general volunteers.Nature and amounts of donated goods, facilities and services receivable from non-exchange transactions.Unfulfilled conditions or other contingencies attaching to resources from non-exchange transactions.Indication of other forms of resources from non-exchange transactions from which the academy trust has benefitted (eg. volunteers) but not recognised in accounts.CONVERSION OF ENDOWMENT FUND

4.43 Amount and reason for conversion of all / part of endowment fund into income.EXPENDITUREANALYSIS

4.57AAD

Activities included within each expenditure heading of the SoFA analysed between staff costs, premises costs and other costs.


COMPLIANCEREF Section N/A Y N



N/A4.58 Details of support costs charged to an activity and cost of grant funding to third parties

included within the cost of charitable activities. Totals reconcile with the SoFA.DELEGATED AUTHORITIES

AFH 5.2 Aggregate amounts for transactions related to each of: AAD i) compensation payments;

ii) gifts made;iii) fixed asset losses;iv) stock losses;v) unrecoverable debts;vi) cash losses.Separate disclosure of amount of each transaction in (i) to (vi) above greater than £5,000 and reason.EX-GRATIA PAYMENTS

9.25AFH 5.2AAD

Total and individual details of all ex-gratia payments made (aggregation of similar nature permissible where this does not impact on the understanding of the arrangement - NB AFH requires separate disclosure of amounts greater than £5,000), including:i) nature;ii) legal authority / reason for making the payment(s); iii) amount(s) or value of any waiver(s) of a right to an asset.AUDITOR’S REMUNERATION

9.23 Amounts payable to auditor, analysed between fees for:S492 i) statutory audit;AAD ii) assurance services other than audit;

iii) tax advisory services; iv) other financial services.

SI 2011/2198

Where auditor’s remuneration includes benefits in kind, nature and estimated monetary value.Where more than one auditor during year, separate remuneration by auditor.

SI 2011/2198 & 2011/489

(Large academies only) Auditor’s remuneration (including expenses and non-cash benefits) for the audit of these accounts (including audit remuneration receivable by their associates):i) the audit of accounts of associates of the academy trust;ii) audit related assurance; iii) taxation compliance; iv) other taxation advisory; v) internal audit; vi) other assurance; vii) corporate finance transactions; viii) all other. Separate disclosure of above in respect of services supplied to associated pension schemes.LIABILITY LIMITATION AGREEMENT

SI 2008/489

Where the company has entered into such an agreement with its auditors, principal terms and date of the resolution approving the agreement or date of the resolution waiving the need for such approval.

1 Sch.66 INTEREST PAYABLE AND SIMILAR EXPENSESInterest on, or any similar expenses, in respect of:i) bank loans and overdrafts;ii) all other loans.OTHER

4.47 Material investment management costs on face of the SoFA or in notes. #1 Sch.19-20

Provisions for permanent diminution in all fixed assets and temporary diminution in value of fixed asset investments. Such provisions written back.

1 Sch.61(2) Amount, nature and effect of any individual items of income or expenditure which are of exceptional size or incidence.ANALYSIS OF GRANTSIMPROVEMENTS TO DIOCESAN PROPERTY OCCUPIED BY THE ACADEMY TRUST

AADAAD 7.4.5

Where relevant to the accounting treatment for improvements, inclusion of an ‘analysis of grants’ note showing amount of improvements gifted to diocese, including comparatives (see also requirements within Accounting policies for long term leasehold and other premises occupancy arrangements).



N/AN/A Y N

GRANT MAKING ACTIVITIES 07/20 (Revised 08/20) 1-16 Academies, Section E


16.13 Notes include (details reconcile with the total of grants payable):i) grants paid analysed between grants to individuals and institutions;ii) analysis of total grants paid by nature / type of activity or project being supported; iii) amount of support costs allocated to grant-making activities.

16.1416.16

Analysis provides understanding of nature of activities or projects being funded. May be based on projects or programmes undertaken or by type of activity or geographical location of the project being funded. #

16.17 - 16.20 Details of grants made to institutions (where material to charitable expenditure):i) name of the institution(s);ii) total value of grants made to each institution in the reporting period;iii) reconciliation to the total amount of institutional grants made in the reporting period;iv) analysis of activities undertaken directly by the academy trust and grant-funded activities;v) (i) to (iv) may be set out in the notes, trustees’ report or on the academy trust website

where a URL is included in the accounts;16.23 vi) if disclosure of (i) withheld as seriously prejudicial, this fact, the total number, value and

general purpose of those grants where details not disclosed.16.17 Where not material, disclose a sufficient number of institutional grants so that users can

develop an understanding of the range of institutions supported.16.25 Where using the statutory exemption to not provide names of receipts during lifetime of the

settlor, this exemption must be stated. CHARITABLE ACTIVITIES

8.2, AADAAD 5.1.22

Significant activities included within charitable activities (and separately, where significant, raising funds), including:

AAD 5.1.23 i) direct costs – educational operations;ii) direct costs – boarding (where applicable);iii) direct costs – teaching school (where applicable);iv) support costs – educational operations;v) support costs – boarding (where applicable).vi) support costs – teaching school (where applicable).

AAD 5.1.24AAD

Further analysis of any significant direct costs may be provided.

AAD 5.1.23 Analysis of support costs, including:8.13 i) total amount of support costs incurred;

ii) analysis of material items or categories of expenditure included within support costs, with the total amounts of governance costs and legal costs incurred separately identified;

iii) amount of support costs apportioned to each significant activity disclosed in SoFA or notes (no comparatives required).

STAFFAAD 6.3.1 STAFF COSTS9.26, 9.28 S411

Total staff costs and employee benefits (including where contracts with / payments by related parties), analysed between:i) wages and salaries;ii) social security costs (including apprenticeship levy);iii) employer’s contribution to defined contribution pension schemes;iv) operating costs of defined benefit pension schemes (excluding pension finance costs

related to defined benefit pension schemes); v) other forms of employee benefits;

AAD vi) supply / agency staff costs;vii) staff restructuring costs (including analysis).

9.27 For each category of redundancy or termination benefits:28.43 i) total amount for the reporting period;

ii) nature of the benefit;iii) extent of funding at the reporting date.

AAD 6.3.1 STAFF SEVERANCE PAYMENTSAFH 5.3AAD

Total value of all non-statutory / non contractual severance payments during the period and the individual values (names not normally required) of amounts paid.

AAD 6.3.1 STAFF NUMBERS9.29 S411

Average number of staff employed analysed between teaching, administration/support and management staff (head count) and the total average number.

AAD An estimate of the equivalent number of full-time staff may be provided in addition. #



N/AN/A Y N

AAD 6.3.1 HIGHER PAID STAFF9.30 Either:AAD i) state there are no employees who received total employee benefits (excluding



employer pension costs) of more than £60,000; or ii) disclose the number of employees whose total employee benefits (excluding employer

pension costs) fell within each band of £10,000 from £60,000 upwards.AAD 6.3.1 KEY MANAGEMENT PERSONNEL9.32, AAD Total trustee and key management personnel employment benefits.

TRUSTEES’ REMUNERATION AND EXPENSESTRUSTEES’ REMUNERATION

9.6 Trustee remuneration and other benefits from employment directly or through related entity:9.7 i) nil disclosure; orAAD 6.4.15-6.4.22AAD

ii) for each individual trustee (in £5,000 bandings):a) legal authority under which the payment was made;b) name;c) details of why remuneration and other benefits were paid (ie. in respect of their

employment as staff, not in respect of their work as trustees);d) amounts of remuneration, employer pension contributions and other benefits

(separately).AAD 6.4.19 Where the Charity Commission has agreed that a trustee can be remunerated for services

as a trustee, this fact.TRUSTEES’ EXPENSES

9.11 Trustee expenses incurred, either:9.12 i) nil disclosure; orAAD 6.4.22 ii) one or more trustees had expenses reimbursed or paid for by the academy trust,

including:a) total expenses reimbursed to trustees or paid directly to third parties;b) nature of expenses;c) number of trustees that had expenses reimbursed or paid for by the academy

trust.9.18 Amount of expenses waived by a trustee (if material to total expenditure).

DIRECTORS’ REMUNERATION (including amounts paid by subsidiaries).Analysed between:i) remuneration, including benefits in kind;

5 Sch.1 ii) amounts receivable under long term incentive schemes (excluding value of shares);iii) company contributions to a pension scheme by which money purchase benefits will be

calculated.5 Sch.4 Compensation for loss of office.5 Sch.5 Sums paid to third parties for directors’ services.5 Sch1(2) The number of directors to whom retirement benefits are accruing under:

i) money purchase schemes;ii) defined benefit schemes.PENSIONS

1 Sch.63(4) Pension commitments relating to past directors.HIGHEST PAID DIRECTORWhere the directors’ remuneration, excluding pension contributions, is £200,000 or more, disclose the following amounts attributable to the highest paid director:

5 Sch.2 i) amount of the aggregate remuneration (excluding pension contributions);ii) company contributions to a pension scheme by which money purchase benefits will be

calculated;iii) amount at the end of the year of their accrued pension under defined benefit pension

schemes;iv) amount at the end of the year of their accrued lump sum under defined benefit pension

schemes;v) whether they exercised any share options;vi) whether any shares were received or receivable by them under a long term incentive

scheme.TRUSTEES’ AND OFFICERS’ INSURANCE

AAD Detail of trustees’ and officers insurance.



N/AN/A Y N

BALANCE SHEET – NOTESFIXED ASSETS

AAD 5.2.4AAD

GENERAL(separately for each item shown under the general item “fixed assets”)

10.15 - Aggregate appropriate amounts at the beginning and end of the year.10.17 Cost or valuation brought forward and carried forward.AAD 5.2.4 Effect of additions, disposals, transfers or revaluation in the year.



1 Sch.51 Cumulative depreciation/amortisation or provision for diminution in value at beginning and end of the year.Charge for depreciation/amortisation/impairment provision or reversal for the year.Adjustments to the depreciation provision in respect of disposals.FIXED ASSETS MEASURED AT REVALUED AMOUNTSThe following disclosure requirements apply where: i) investments in subsidiaries, associates and joint ventures held at fair value with

changes recognised in other comprehensive income; ii) tangible fixed assets (not biological assets) revalued using the revaluation model; iii) intangible assets other than goodwill revalued using the revaluation model.

1 Sch.52 For fixed assets (other than listed investments) held at a revalued amount: i) the years in which the assets were severally valued and the several values;ii) if valued in the reporting period, the names of the valuers or their qualifications for

doing so and the bases of valuation used.1 Sch.34 Comparable amounts for each revalued fixed asset if historical cost accounting rules had

been used: i) aggregate cost;ii) aggregate accumulated depreciation; iii) aggregate accumulated impairment losses; iv) aggregate carrying amount.

1 Sch.32 If the basis (other than market value) of investment valuation appears appropriate to the directors, disclosure of the method and reasons for its adoption. FIXED ASSETS NOT INCLUDED AT FAIR VALUE

1 Sch.34, 52 Where financial fixed assets that could be included at fair value are carried in the accounts at an amount in excess of fair value: i) carrying amount;ii) fair value;iii) reasons for not making a provision for diminution in value; IMPAIRMENT OF ASSETS

12.2127.3227.33

Amount of impairment losses and reversals recognised and line item(s) in the SoFA in which those impairment losses are included / reversed, for each of the following classes of asset:i) stocks;ii) tangible fixed assets (including investment property accounted for by the cost method);iii) goodwill;iv) intangible assets other than goodwill;v) investments in associates;vi) investments in joint ventures;vii) other investments;viii) heritage assets.

12.22 Events and circumstances that led to recognition or reversal of impairment loss.DISPOSAL OF ASSETS

4.14 Where a binding sale agreement for major disposal of assets, or a disposal group exists:i) description of asset(s) or disposal group;ii) description of facts and circumstances of the sale;iii) carrying amount of underlying assets and liabilities.



N/AN/A Y N

INTANGIBLE FIXED ASSETS (OTHER THAN GOODWILL)10.24 For each class of intangible asset:AAD 5.2.4AAD

i) The gross carrying amount and accumulated amortisation (aggregated with accumulated impairment losses) at the beginning and end of the period.

ii) Line item(s) in the SoFA in which any amortisation included.iii) A reconciliation (no comparatives required) of the carrying amount at the beginning

and end of the period showing separately:a) additions, separately indicating those from internal development and acquired;b) disposals;c) acquisitions through business combinations;d) revaluations;e) amortisation;f) impairment losses; g) other changes.

iv) Description, carrying amount and remaining amortisation period of any material individual intangible asset.

v) For intangible assets acquired by grant their value on initial recognition and their 07/20 (Revised 08/20) 1-19 Academies, Section E


carrying amount.vi) The existence and carrying amounts of intangible assets with restricted title or pledged

as security for liabilities.vii) Aggregate amount of research and development recognised as an expense during the

period.viii) If intangible assets are accounted for at revalued amounts:

a) effective date of revaluation;b) whether an independent valuer was involved;c) methods and significant assumptions;d) for each revalued class of intangible assets, the carrying amount that would have

been recognised had the assets been carried under the cost model.TANGIBLE FIXED ASSETS

17.30A Section 17 disclosures (other than fair value measurement disclosures) also includes investment property included at cost (eg. rented within group).

10.37AAD 5.2.4AAD

For each class of tangible fixed assets (should be analysed between: freehold and leasehold land and buildings - identifying whether long or short lease; leasehold improvements, assets under construction, furniture and equipment; plant and machinery; computer equipment and motor vehicles, where relevant):i) gross carrying amount and accumulated depreciation (aggregated with accumulated

impairment losses) at the beginning and end of the period;ii) a reconciliation (no comparatives required) of the carrying amount at the beginning and

end of the period showing separately:a) additions;b) disposals;c) acquisitions through business combinations;d) revaluations;e) transfers to or from investment property;f) impairment losses recognised or reversed in net income / expenditure;g) depreciation;h) other changes.

17.31A Carrying amount at end of the reporting period of investment property rented to another group entity and accounted for using the cost model as per paragraph 16.4A.

17.32 Existence and carrying amounts of tangible fixed assets with restricted title or pledged as security for liabilities.

10.38 If items of tangible fixed assets are stated at revalued amounts:i) effective date of revaluation;ii) whether an independent valuer was involved;iii) methods and significant assumptions;iv) for each revalued class of tangible fixed assets, the carrying amount that would have

been recognised had the assets been carried under the cost model.LAND AND BUILDINGS

1 Sch.53 Land and buildings net book amount to be split:i) freehold land and buildings;ii) long leasehold land (ie. 50+ years remaining at the balance sheet date);iii) short leasehold land and buildings.



N/AN/A Y N

DELEGATED AUTHORITIESAAD Description of transactions relating to land and buildings, and amounts where:AFH 5.2 i) acquisitions of freehold land and buildings, if value of acquisition exceeds £5,000;

ii) disposals of land and buildings, if value exceeds £5,000;iii) taking up a leasehold on land and buildings (as tenant), if lease payments exceed

£5,000;iv) granting a leasehold on land and buildings (as landlord), if lease payments exceed

£5,000.HERITAGE ASSETS

18.21 Nature and scale of heritage assets.18.22 Cross reference to further information on heritage assets in trustees’ report. #18.20,18.2318.24

Separately for those held at cost and those at valuation (aggregation between groups / classes of assets is permitted provided that this does not obscure significant information):i) gross carrying amount and accumulated depreciation (aggregated with accumulated

impairment losses) at the beginning and end of the period; 18.25 ii) a reconciliation (no comparatives required) of the carrying amount at the beginning and

end of the period showing separately:a) additions;



b) disposals;c) revaluations;d) depreciation;e) other charges;

iii) if at valuation, sufficient information to assist in understanding the valuation being recognised (eg. date of valuation, method used, whether carried out by external valuers (if so, qualifications), and any significant limitations on the valuation).

18.26 Where heritage assets not recognised on the balance sheet, reasons, significance, nature and other information helpful in assessing value.

18.27 - 29 Where impracticable to obtain a valuation of heritage assets acquired by donation, reasons.Five-year summary (show separately items included and excluded from balance sheet): i) cost of acquisition of heritage assets;ii) value of heritage assets acquired by donation;iii) carrying amount of heritage assets disposed of in the period and proceeds received; iv) impairment recognised.

18.30 v) If (i) to (iv) impractical for period earlier than that immediately before 1 January 2015, this fact.

DELEGATED AUTHORITIESAAD AFH 5.2

Description of transactions relating to disposal of heritage assets, and amounts, if value exceeds £5,000.

AAD 6.2.21 INVESTMENTS1 Sch.54 (1)

Aggregate amount of listed investments.

1 Sch.54 (2)

Aggregate market value of listed investments if different from balance sheet amount and also the stock exchange value where this is lower than the market value.

10.53 A reconciliation (no comparatives required) of the carrying amount at the beginning and end of the period for each class of investment showing separately:i) additions;ii) disposals;iii) revaluations;iv) impairments.

10.53 Analysis of the following classes split between investments held at cost and fair value:10.54 i) cash or cash equivalents;

ii) listed investments;iii) investment properties;iv) loans to group undertakings;v) equity investment in group undertakings;vi) social investments; vii) other investments.



N/AN/A Y N

INVESTMENTS IN SUBSIDIARIESAAD 7.2.9 For each subsidiary:24.36 i) its name(s), company number and, where applicable, its charity registration number;

ii) how activities of subsidiary relate to those of the academy trust;iii) percentage of voting equity instruments acquired or other means of control;iv) the aggregate amount of its assets, liabilities and funds; v) a summary of its turnover (or gross income) and expenditure and its profit or loss (or

surplus or deficit);PERMANENT ENDOWMENT INVESTED ON TOTAL RETURN BASIS

20.10 For each endowment fund that is invested on a total return basis:i) value of trust for investment at start of reporting period;ii) additional gifts to the value of ‘trust for investment’ (additions);iii) unapplied total return at start of reporting period;iv) investment return for reporting period;v) allocations of unapplied total return to income funds;vi) recoupment to make good value of the trust for investment;vii) allocation from trust for investment to the unapplied total return;viii) unapplied total return at end of reporting period;ix) total amount of endowment fund at end of reporting period; x) details of the power of investment or order that permits academy trust to adopt a total

return approach to investment.CURRENT ASSET INVESTMENTS

10.73 Current asset investments, analysed by:i) cash equivalents on deposit;



ii) investment properties held for sale;iii) investment in group undertakings held for sale;iv) listed investments;v) other investments.

AAD 5.2.4 STOCKS 10.63 Total carrying amount of stocks and carrying amounts in appropriate classifications (eg.

clothing, catering etc.) analysed across activities.Impairment losses recognised or reversed in net income / expenditure.Total carrying amount of stocks pledged as security for liabilities.

1 Sch.28 Where replacement cost of stocks differs from historic cost, the difference.AAD 5.2.4 DEBTORS10.68 Debtors analysed by:

i) trade debtors;AAD ii) VAT recoverable;

iii) other debtors;iv) prepayments and accrued income.

10.691 Sch.Part1

If material, amount of debtors recoverable more than a year after the reporting date, if not shown as a separate line on the balance sheet, disclosed in notes.

AAD 5.2.5 CREDITORS (AMOUNTS FALLING DUE WITHIN / AFTER MORE THAN ONE YEAR)10.82 Creditors falling due within one year and after one year, analysed by:AAD i) accruals for grants payable;

ii) bank loans and overdrafts;iii) trade creditors;

AAD 7.5.2 iv) ESFA creditor: abatement of GAG;v) loansvi) payments received on account for contracts or performance-related grants;vii) accruals and deferred income;

1 Sch.Part 1 viii) taxation and social security;ix) other creditors.

1 Sch.61 For each balance sheet item under creditors falling due after more than one year, the aggregate of:i) amount due, other than by instalments, after more than five years;ii) amount repayable by instalments which falls due after five years.



N/AN/A Y N

1 Sch.61 Falling due within or after one year, aggregate amount, nature and form of secured liabilities.For each balance sheet item under creditors falling due after more than one year, state the terms of repayments and interest rate.CONCESSIONARY LOANS (eg. Salix loans)

PBE34.93PBE34.94PBE34.97

Presented as a separate line on the balance sheet or in the notes separately disclosing loans made and received. Multiple loans made / received may be aggregated as long as not obscuring significant information.

21.43 For each concessionary loan made or received;AAD 5.2.5 i) carrying amount (aggregation permissible so far as not obscuring significant

information);ii) terms and conditions (eg. interest rate, any security provided and terms of repayment);iii) value of any concessionary loans committed but not taken up; iv) amounts payable or receivable within one year and after more than one year.DEFERRED INCOME

5.59 Explain the reasons why.AAD114

Other deferred incoming resources: Analysis of movement on the deferred account between incoming resources deferred in the current year and amounts released from previous years.BASIC AND OTHER FINANCIAL INSTRUMENTS

11.38A12.25B

Financial assets and liabilities offset and net amount presented in the balance sheet when the academy trust:i) currently has a legally enforceable right to set off the recognised amounts;ii) intends either to settle on a net basis, or realise the asset and settle the liability

simultaneously.11.41 11.35AAD

Carrying amounts of each of the following categories at the reporting date:

i) financial assets measured at fair value through net income / expenditure;ii) financial liabilities measured at fair value through net income / expenditure. Financial



liabilities that are not held as part of a trading portfolio and are not derivatives shall be shown separately.

This disclosure may be made separately by category of financial instrument.11.35A Information that enables users to evaluate the significance of financial instruments (eg.

terms and conditions of a debt instrument such as interest rate, maturity, repayment schedule, and restrictions that the debt instrument imposes on the academy trust). When risks are particularly significant to the academy (e.g principal risks), additional disclosures may be required (see paragraphs 34.19 to 34.30).For all financial assets and financial liabilities measured at fair value, the basis for determining fair value. When a valuation technique used, the assumptions applied in determining fair value for each class.Where financial assets pledged as collateral for liabilities or contingent liabilities:i) carrying amount of the financial assets pledged;ii) terms and conditions.Defaults and breaches on loans payable at reporting date:i) details;ii) carrying amount;iii) whether breach or default remedied, or terms renegotiated, before financial statements

authorised.The following items of income, expense, gains or losses:i) income, expense, net gains or net losses, including changes in fair value, recognised

on:a) financial assets measured at fair value through net income / expenditure;b) financial liabilities measured at fair value through net income / expenditure (with

separate disclosure of movements on those not held as part of a trading portfolio and are not derivatives);

c) financial assets measured at amortised cost;d) financial liabilities measured at amortised cost;

ii) total interest income and total interest expense for financial assets liabilities not measured at fair value through net income / expenditure;

iii) amount of any impairment loss for each class of financial asset.



N/AN/A Y N

FUNDS AND ANALYSIS OF NET ASSETS BETWEEN FUNDS2.28AAD 6.5.1

Information on material individual fund balances, movements, including comparatives and the purposes for which the funds are held, including analysis of:

AAD 5.2.6 i) restricted fixed asset fund;ii) restricted general fund;iii) pension reserve;iv) unrestricted fund.

2.28 Notes differentiate between unrestricted funds (both general and designated), restricted income funds, permanently endowed funds and expendable endowments.

2.29AAD 6.2.29AAD 6.5.1

Summary of assets and liabilities of each category of fund of the academy trust (eg. intangible fixed assets, tangible fixed assets, current assets, current liabilities, pension scheme liability), if not provided in a columnar balance sheet (including comparatives).Purposes and trust law restrictions imposed on each material individual fund.Movements on material individual funds, reconciling the opening and closing fund balance.Reasons for any material transfers between different classes of funds.Where endowment has been converted to income, the amount(s) converted and the legal power for conversion.Planned use of any material designated funds, explaining purpose of the designation.

4.67 Opening and closing balances for each class of fund with the difference reconciled by the movement in funds in the reporting period.

AAD 6.5.1 Any funds in deficit disclosed along with circumstances giving rise to deficit and steps being taken to eliminate it.

5.34 If interest in a legacy cannot be measured reliably, details disclosed as a contingent asset until the criteria for income recognition are met. #

7.46, 7.45 Where unrestricted funds have been designated to fund a commitment on the balance sheet:i) nature of any amounts designated; andii) if not explained in the trustees’ report, likely timing of expenditure.

AAD 7.6.14 A statement that the academy trust was not subject to a limit on GAG carry-forward, where applicable.

AAD CAPITAL (AND OTHER FINANCIAL) COMMITMENTS10.2410.37

Amount of contractual commitments for the acquisition of intangible assets, tangible fixed



assets.1 Sch.63 (2)(4)(6)(7)

Particulars and total amount of any financial commitments, guarantees and contingencies not included in the balance sheet with separate disclosure of:i) total amount of pension commitments;ii) particulars of pension commitments relating to past directors;iii) total amount of commitments, guarantees and contingencies undertaken on behalf of

or for benefit of any undertaking in which the entity has a participating interest (separately stated).

1 Sch.63(3) Nature and form of any valuable security given in respect of commitments, guarantees and contingencies not included on the balance sheet.

1 Sch.63AAD 7.8.12

Other financial commitments not provided for but relevant (eg. PFI secondary agreement commitments).

7.44, 7.45 For any funding commitment not recognised as a liability / provision (no comparatives required):i) details of commitment made;ii) time frame of commitment;iii) any performance-related conditions attached to commitment; andiv) details of how the commitment will be funded.PROVISIONS AND FUNDING COMMITMENTS (NO COMPARATIVES REQUIRED)

7.43-4510.83

Analyse provisions and expenditure resulting from recognised funding commitments across appropriate heading(s) in the SoFA for each class of provision in tabular form:

1 Sch.59 i) reconciliation showing:a) carrying amount at the beginning and end of the period;b) additions, including adjustments that result from changes in measuring the

discounted amount;c) amounts charged against the provision during the period; d) unused amounts reversed during the period;

ii) nature and expected amount and timing of any resulting payments;iii) indication of uncertainties about amount or timing of outflows, including any

performance-related conditions attached to the commitment; iv) amounts of any expected reimbursement and any asset recognised.



N/AN/A Y N

1 Sch.59(3) Particulars of “other provisions”.1 Sch.63(4) Pension commitments to be shown including details of commitments not provided for.

Pension commitments relating to past directors.LEASESOPERATING LEASES - LESSEE

20.16AAD 6.6.1

Total future minimum lease payments under non-cancellable operating leases, for each of the following periods:i) not later than one year;ii) later than one year and not later than five years;iii) later than five years.

AAD 6.6.2 Lease payments recognised as an expense.OPERATING LEASES - LESSOR

20.30 Total future minimum lease payments under non-cancellable operating leases, for each of the following periods:i) not later than one year;ii) later than one year and not later than five years;iii) later than five years.Contingent rents recognised as income.General description of significant leasing arrangements.FINANCE LEASES - LESSEE

20.13 Net carrying amount at end of period for each class of asset.Total of future minimum lease payments, for each of the following periods:i) not later than one year;ii) later than one year and not later than five years;iii) later than five years.General description of significant leasing arrangements.RECONCILIATION OF CASH FLOW

AAD Reconciliation of net income / (expenditure) to net cash flow from operating activities.Cash flows from financing activities.Cash flows from investing activities.Analysis of cash and cash equivalents.



AAD

GUARANTEES, LETTERS OF COMFORT AND INDEMNITIESNB. Academy trusts may wish to disclose prior year comparative if thought useful to the reader of the financial statements.

AAD Total value of any guarantees, letters of comfort and indemnities.AFH 5.2 Individual disclosure of any instances above £5,000.

FINANCIAL GUARANTEE CONTRACTS21.17A Nature and business purpose further to requirements within 10.83, 10.87 and 10.88.AAD 6.2.26-6.2.28

CONTINGENT ASSETS AND LIABILITIES

10.87

AAD

Nature of the contingent asset or liability and, when practicable:NB. For contingent liabilities, disclose the prior year position as a comparative with an update where relevant.

10.88 i) estimate of financial effect;AAD ii) indication of uncertainties relating to the amount or timing of the settlement;1 Sch.63(4) iii) the possibility of any reimbursement.

If impracticable to make one or more (i) to (iii), that fact.1 Sch.63(1) Particulars of any charge on company assets to secure the liabilities of another person,

together with details of the amount secured.OFF-BALANCE SHEET ARRANGEMENTS

S410A Where the company is/has been party to arrangements, not reflected in its balance sheet, of which the risks/benefits are material:i) nature and business purpose of the arrangement;ii) financial impact on the company.MEMBERS’ LIABILITY

AAD The amount each member undertakes to contribute to the assets of the academy trust in the event of it being wound up.PENSION AND SIMILAR OBLIGATIONSDEFINED CONTRIBUTION PLANS

17.21 Amount recognised in the SoFA as an expense for defined contribution plans.



N/AN/A Y N

The basis for allocating the liability and expense between activities and between restricted and unrestricted funds.

17.22AADAAD 6.2.24

For a defined benefit multi-employer plan treated as a defined contribution (eg. Teachers’ Pension Scheme), include:

17.23 i) that it is a defined benefit plan and reason accounted for as defined contribution plan;ii) available information about the surplus or deficit and implications;iii) extent to which the academy trust can be liable to the plan for other entities’

obligations;iv) how any liability recognised to fund deficit determined.

17.19 v) Where material, disclose expenses separately from defined contribution expenses.NB Teachers’ Pension Scheme disclosures should agree to those within the AAD.DEFINED BENEFIT PLANS (eg. Local Government Pension Scheme)

28.41AAD AAD 7.1.10-7.1.14

If more than one defined benefit plan, disclosures may be made in aggregate, separately for each plan/fund, or in such groupings considered to be the most useful:

i) General description of type of plan, including funding policy. Include the amount and timing of future payments under any agreement to fund a deficit (eg. schedule of contributions).

ii) Date of most recent comprehensive actuarial valuation and, if it was not as of the reporting date, description of adjustments made to measure the obligation.

iii) Reconciliation of opening and closing balances (no comparative required) for each of the following:a) the defined benefit obligation;b) the fair value of plan assets; andc) any reimbursement right recognised as an asset.

iv) For each of the reconciliations in iii above show, if applicable:a) change in defined benefit liability arising from employee service rendered during

the period in total income / expenditure;b) interest income or expense;c) remeasurement of defined benefit liability, showing separately actuarial gains and

losses and the return on plan assets less amounts included in (b) above;d) plan introductions, changes, curtailments and settlements.



v) Total cost relating to defined benefit plans, disclosing separately amounts:a) recognised as an expense;b) included in the cost of an asset.

vi) Percentage or amount that each major class of plan assets (including equity instruments, debt instruments, property, and all other assets) constitutes of the fair value of the total plan assets.

vii) Amounts included in fair value of plan assets for:a) each class of the academy trust’s own financial instruments;b) any property occupied by, or other assets used by, the academy trust.

viii) Return on plan assets.ix) Principal actuarial assumptions:

a) discount rates;b) expected rates of salary increases;c) medical cost trend rates;d) any other material actuarial assumptions.

AAD x) Sensitivity analysis in £’000s.AAD Information relating to the LGPS regarding government guarantee (per AAD).28.41A If defined benefit plan shares risks between entities under common control:

i) contractual agreement or stated policy for charging cost or the fact there is no policy;ii) policy for determining contributions;iii) if accounting for an allocation of the net defined benefit cost, information per 28.41;iv) if accounting for contributions payable, information about the plan as a whole per 28.41

(i), (ii), (vi) and (vii);v) (i) to (iv) can be disclosed by cross-reference to disclosures in another group entity’s

financial statements if available on the same basis and time (or earlier) and they separately identify and disclose information required about the plan.

LONG-TERM BENEFITS28.42 For each category of other long-term benefits the nature of the benefit, amount of its

obligation and extent of funding at the reporting date.



N/AN/A Y N

DIRECTORS’ BENEFITS: ADVANCES, CREDIT AND GUARANTEESS413 For any transaction/arrangement entered into during the period:

i) For each advance or credit granted by the company to its directors:a) amount and total amount of all such advances/credits;b) indication of interest rate;c) main conditions;d) any amounts repaid and the total amount of such payments;e) any amounts written off and the total amount of such write offs;f) any amounts waived and the total amount of such waivers.

ii) For each guarantee entered into by the company on behalf of its directors:a) main terms;b) maximum amount of liability that may be incurred by the company and the total

maximum amount;c) any amount paid and any liability incurred to fulfil the guarantee and the total

amounts paid / liability incurred.RELATED PARTY TRANSACTIONSGENERAL

9.19 AAD 6.4.14

When no related party transactions arose in the period, this fact.

9.189.20, 23.41 Sch. 72AADAAD 6.4.9

If the academy trust has related party transactions, full and open information about the transactions, outstanding balances and commitments necessary for an understanding of the potential effect of the relationship on the financial statements. Transactions should be categorised as ‘incoming’ and ‘outgoing’, with disclosures including:i) names of the related party / parties;ii) nature of the related party relationship;iii) amount and description of the transactions;iv) amount of outstanding balances and:

a) terms and conditions, including whether secured, and nature of consideration;b) any guarantees given or received;

v) provisions for uncollectible debtors;vi) expense recognised in respect of bad or doubtful debts due from related parties.



AAD 6.4.12-6.4.13

vii) whether transactions were conducted in accordance with the requirements of the AFH and with their financial regulations and procurement procedures, including notifying the ESFA of all transactions made on or after 1 April 2019 and obtaining their approval where required;

viii) where contracts for goods or services exceeding £2,500 in the year, a statement that the element above £2,500 has been provided at no more than cost;

AAD ix) indication of how transaction managed, procurement process and demonstration of even-handedness.

9.18 Total donations received with conditions from trustees or related parties.19.12 Where funds have been held as agent for related parties, disclosures as above.

PARENT / SUBSIDIARY RELATIONSHIPS26.526.6

Name of parent and country of incorporation if outside the UK or the Republic of Ireland. If unincorporated, the address of its parent’s place of business.If parent is a charity, its charity registration number and, if applicable, company registration number.Parent’s principal purposes and activities.How control can be exercised by the parent.The address from which the public can obtain the consolidated accounts that include the subsidiary academy trust’s accounts.

26.7 Where the parent entity is itself a subsidiary, information per 26.5 and 26.6 above regarding the ultimate parent.

AAD 7.11.3

AGENCY ARRANGEMENTS (FUNDS RECEIVED AS AGENT)NB. Comparative figures should be included.

19.12 Analysis of funds received and paid by the academy trust as agent (eg. 16-19 bursary funds).

AAD 7.11.3 Details of any balances held as agent at the reporting date.Details of any balances outstanding between participating consortium members for which it is administratively responsible.



N/AN/A Y N

BOARDING TRADING ACCOUNTAAD Income

i) fee income;ii) grants;iii) other.Expenditure.i) direct costs split by type;ii) indirect costs split by type;iii) stock costs.Total operating costs.Surplus / deficit on boarding.Surplus / deficit at start and end of period.TEACHING SCHOOL TRADING ACCOUNT

AAD IncomeAAD 7.15.3 i) direct income by type;

iii) other income by type.Total income.Expenditure.i) direct costs split by type;ii) other costs split by type;Total expenditure.Surplus / deficit on teaching school activities.Surplus / deficit at start and end of period.ACADEMY CONVERSIONS AND TRANSFERSBUSINESS COMBINATIONS - GENERAL

19.25 For each business combination effected during the period:i) names and descriptions of the combining entities;ii) acquisition date;iii) percentage of voting equity instruments acquired or other means of control;iv) cost of combination and description of components of cost (if any);v) amounts recognised at acquisition date for each class of assets, liabilities and

contingent liabilities, including goodwill;19.25A For each material business combination in the period, the gross income and net income /

expenditure of the acquiree since the acquisition date (may be provided in aggregate for 07/20 (Revised 08/20) 1-27 Academies, Section E


individually immaterial business combinations).AAD 7.9.14 ACADEMY CONVERSION

(ie. trust includes a newly converted academy in the year)AAD 7.9.15 Trustees’ report: discussion of conversion, including timings of incorporation and transfer.

SOFA: additional disclosure within either:i) donations - transfer from local authority on conversion (net income); orii) charitable activities - transfer from local authority on conversion (net expenditure).Cash flow statement: include cash transferred on conversion.Accounting policies: policy on transfers on conversion.Fixed assets note: transfer on conversion disclosed within the cost section.Pension schemes note: narrative disclosure of obligations transferred on conversion.Conversion to an academy trust note disclosing transfer of assets and liabilities on conversion.TRANSFER OF EXISTING ACADEMY INTO ACADEMY TRUST(ie. trust includes an academy transferred from another trust in the year.)

AAD SOFA: additional disclosure within either:6.1.19 i) donations - transfers of existing academy joining the academy trust (net income); or8.7.3-5 ii) charitable activities - transfers of existing academy joining the academy trust (net

expenditure).Cash flow statement: include cash transferred on transfer of existing academy into the trust.Accounting policies: additional policy on transfer of existing academy into the trust.Notes: ‘transferred in on existing academies joining the academy trust’ movements in other notes (eg. fixed assets and pensions).



N/AN/A Y N

AAD Separately, for each academy transferring in:AAD 7.10.11

i) table of acquired assets and liabilities setting out:

a) value reported by transferring trust;b) fair value adjustments;c) transfer in recognised;

ii) explanations for principal adjustments;iii) amounts agree to ‘transferred in on existing academies joining the trust’ movements in

other notes (eg. fixed assets and pensions).TRANSFER OF ACADEMY OUT OF ACADEMY TRUST(ie. trust disposes of an academy by transfer to another trust in the year.)

AAD SOFA: additional disclosure within either:i) donations - transfers of existing academy leaving the trust (net income); orii) charitable activities - transfers of existing academy leaving the trust (net expenditure).Cash flow statement: include cash transferred on transfer of existing academy out of the trust.Accounting policies: additional policy on transfer of existing academy out of the trust.Notes: ‘transferred out on existing academies leaving the trust’ movements in other notes (eg. fixed assets and pensions).

AADAAD 7.10.12, 7.10.21

Separately, for each academy transferring out a table of assets and liabilities derecognised, setting out amounts gifted on transfer.

EVENTS AFTER THE END OF THE PERIOD13.8AAD 6.7.1AAD

For non-adjusting events, the nature of the event and an estimate of its financial effect or a statement that such an estimate cannot be made, including comparatives (even if nil) .

MULTI-ACADEMY TRUSTSAAD 7.1.3 Trustees’ report: information about individual academies.

GAG note: where the trust or any constituent academy subject to GAG carry-forward limits, disclosure of whether limits exceeded.

AAD 7.1.9 Funds note: where applicable, additional disclosure at the foot of the note detailing:i) funds attributable to each academy at the end of the current and comparative period,

and where in deficit a description of the action being taken;ii) amounts spent by each academy on teaching and educational support staff; other

support staff; educational supplies and other costs.Where fund balances both years are zero for every academy, a statement that a funds note is not included as all reserve balances are zero.

AAD 7.1.4-7.1.7

Following the staff costs note, a note on central services provided to academies during the year, showing:i) types of central services provided;ii) policy for charging central services;



iii) charges to each academy;iv) where no central management / services function and/or no central charges arose,

these facts.

Prepared: Date:

Reviewed: Date:


Documents

ACADEMIES ACCOUNTS CHECKLIST – Accounts direction … · Web viewNon-cash transactions - investing and financing transactions that do not require the use of cash or cash equivalents