Core Services for Academies and Education Providers
Services for Education & Academies
Specialist academy accountants ensuring compliance and funding efficiency.
Academy Bookkeeping
Specialist bookkeeping configured for school funds, grant income, GAG allocations, and department-level expenditure.
ESFA & Academies Accounts
Preparation of statutory accounts in strict compliance with the ESFA Academies Accounts Direction and Academies Trust Handbook.
Academy Audit Support
Comprehensive audit preparation, working papers compilation, and liaison with statutory auditors to ensure a smooth audit process.
Education VAT & Claims
Maximising VAT recovery for academies using Section 33B refund claims or managing partial exemption for commercial activities.
Budgeting & GAG Analysis
Providing regular financial reporting, General Annual Grant (GAG) reviews, and multi-year budget forecasting for trustees.
Academy Software Setup
Implementing robust cloud accounting systems that handle multi-academy trust (MAT) consolidation and school-level tracking.
How We Help Academies and Education Providers
Strict compliance with the ESFA Academies Accounts Direction
Smooth external audit preparation and robust working papers
Maximised VAT recovery via Section 33B claims and partial exemption reviews
Clear multi-year budgeting and General Annual Grant (GAG) tracking
Frequently Asked Questions
What is the Academies Accounts Direction, and who does it apply to?
The Academies Accounts Direction is the annual guide published by the ESFA setting out how academy trusts must prepare and submit their annual accounts. All academy trusts in England must comply with it. We ensure your financial statements are prepared in strict accordance with these guidelines.
How can academies reclaim VAT in the UK?
Under Section 33B of the VAT Act 1994, academy trusts can reclaim VAT incurred on purchases made for their non-business educational activities. This is a highly valuable mechanism. We assist trusts in compiling and submitting these claims correctly to protect their budgets.
What is the Academies Trust Handbook, and what are its key requirements?
The Academies Trust Handbook (also known as the Academies Financial Handbook) is a regulatory document that sets out the financial management and governance requirements for all academy trusts. It covers internal scrutiny, budgeting, and trustee duties. We help you establish internal controls to ensure full compliance.
How do we handle the GAG (General Annual Grant) carry-forward limits?
Historically, the ESFA placed strict limits on the amount of GAG an academy trust could carry forward at year-end. While these limits are currently suspended, robust tracking of GAG reserves is essential for capital planning. We structure your accounts to monitor GAG allocations and reserves clearly.
What are the key financial reporting deadlines for UK academy trusts?
Academy trusts must submit their audited accounts and auditor’s report to the ESFA by 31st December each year, and publish them on their school website by 31st January. We work closely with your trustees and external auditors to ensure these strict deadlines are always met.
Talk To Us
We are here to make business feel clearer and easier, starting with a simple conversation. Whether you need a new accountant, specialist advice or wider support from the Nuvo team, we would love to hear from you.