Our next event

Lovewell Blake Trainee insight evening

Trainee insight evening (29 October 2019)

October 2019
View details

Our next event

Lovewell Blake Trainee insight evening

Trainee insight evening (29 October 2019)

October 2019
View details

Charity and not for profit

Academies

Academies

Academy Accountants Norwich


The number of academies and multi-academy trusts (MAT's) in the UK is growing as more and more state schools are converting to academy status, or joining MAT's.
Academies have greater freedom in managing the staffing and running of the school. Direct receipt of funding from the Education Finding Agency gives some more autonomy on how the money is spent. However, the academy has to procure services previously provided by the local authority and comply with requirements for application of funds, governance and reporting.

Schools converting to academy status
If you are going through the process of converting to academy status, or joining an MAT, we can help:

  • assess whether conversion to an academy is a viable option. We can advise on the financial differences, conduct due diligence on transferred balances and detail reporting requirements.
  • design appropriate systems and controls to meet the requirements of the funding agreement. We work with you to select the most appropriate accounts software to meet statutory and government financial reporting needs as well as internal management reporting needs.
  • advise on accounting issues relating to property and leases; employment law, TUPE and pension arrangements; payroll and human resources; VAT and other taxation, and general governance.
  • due diligence work for MAT's and joining schools
  • strategic advice to management and trustees
  • advice on financial staff team requirements and central accounting in MAT's


Ongoing support and service
Once you have attained academy status, we provide you with a full range of accountancy and audit services:

  • Preparing accounts to comply with Academies Handbook, Charities SORP, Charities Act and Companies Act
  • Audits
  • Payroll bureau
  • Human Resources
  • Advice on internal control procedures
  • Governance including responsibilities of governors
  • Financial projections and business plans
  • Advice on computerised accounting systems; we are Sage accredited agents
  • Ongoing alerts.


Expert taxation advice
Our taxation specialists advise on all issues facing academies such as VAT exemption, PAYE and benefits in kind, use of trading subsidiaries and Gift Aid.

Our team


With the unrolling of academy status to a much wider range of schools, our team has been undergoing training in how best to meet the needs of this sector. Mark Proctor is our lead partner co-ordinating services to our academy and school clients. He spends much of his time advising charity trustees and school governors. He is a non-executive director of the Norfolk & Norwich Festival Ltd.

Latest update: Internal scrutiny reports for the Education and Skills Funding Agency.
Call us on 01603 663300        Email us

Select a Service:

Financial Planning

Tax and VAT

Accountancy Services

Employment Services

Academies

 

Helpful documents

Services to academies
Services to academies.
Download
"We have used Lovewell Blake for our business and personal accountancy needs for a number of years. We always receive a professional, efficient and helpful service and feel safe in the knowledge that our accounts are in order. We would recommend Lovewell Blake to any business and have done already."
 
 

News

Pensions versus ISA
Richard Ince, Paraplanner

17 October 2019
A common question amongst investors is 'should I invest in a pension or an ISA?' Here we run through the main features of each product.
Read More

How can your business prepare for Brexit?
Rob Geary

15 October 2019
We’ve talked before about the importance of preparing for Brexit, and not just burying your head in the sand. In order to help businesses to do this, our VAT experts have pulled together the advice that has been published by HM Revenue and Customs (HMRC) over the last few weeks...
Read More

See all our news

Events

Stock without the spreadsheets
19 November 2019
Join our Xero experts and learn how to manage your stock easily, accurately and effectively with these online solutions.
Read More

HR masterclass: Disciplinary and grievance investigation (13 November)
13 November 2019
Are you aware of the importance of investigations when it comes to going through a disciplinary process or handling a grievance?
Read More

HR masterclass: Disciplinary and grievance investigation (7 November)
7 November 2019
Are you aware of the importance of investigations when it comes to going through a disciplinary process or handling a grievance?
Read More