Becoming an academy school brings with it new opportunities. It also means leaving the safety net of local authority support and following a complex set of compliance and reporting requirements, at the same time as you are supporting your students to reach their full potential
As an academy, one of your new freedoms is being able to choose your own professional advisers, to help your school operate in the most cost-effective and efficient way, to maximise funds for educational priorities.
If you are considering conversion to academy status, Moore Thompson’s experts can provide all the cost-effective support needed for informed decision-making and throughout the transition process.
If your school is an established academy, you and your team will have gained experience and confidence in operating in this way. As a result, you may now find you need professional advisors who can provide a broader range of accountancy, audit, tax and business advisory services than those originally appointed.
Our education specialists are experienced in working with academies and can provide as much or as little as you need us to, while you benefit from our value for money, high quality services and our education sector expertise.
Our academy conversion services include:
- carrying out due diligence as required
- advising governors and trustees on their new responsibilities
- discussing financial issues that may affect the conversion process
- advising on financial improvements
- establishing internal controls and procedures
- setting up a suitable accounting system.
Our ongoing support for academies includes:
- prepare accounts compliant with the Charities Statement of Recommended Practice (SORP) and the Companies Act
- auditing financial year end statements
- outsourced bookkeeping and payroll facilities
- providing meaningful management accounts and helping to interpret the data
- assisting with cash flow planning and budgeting
- helping with VAT registration and reclaiming any VAT on non-business activities
- providing company secretarial services
- managing any pension issues
- advising on future strategic developments
- discuss investment options for surplus funds.
For further details or to arrange a free, no obligation meeting, please contact a member of our academies team.
For more information on Moore Thompson Chartered Accountants in Spalding, Wisbech, Market Deeping, Cambridgeshire and Lincolnshire, please contact us.