We are experienced in assisting schools in the financial procedures, management and reporting relating to the creation and management of Academy status. We now act for a broad range of academies and federated academies and are currently working with a number of school heads and governing bodies on their conversion to Academy status.
We recognise that the process of converting to and running an Aacademy presents a number of challenges for school heads, governors and business managers, we have therefore developed our specialist website. There, you will find a host of free resources, guides and advice on schools converting to academy status as well as practical hints and tips around the accounting and financial matters.
With an education sector team of five accountancy partners and directors supported by sector dedicated managers, Streets offers a partner led and local service provision, with ease of access and reassurance on day to day matters for the business and finance manager. Our education team covers the firm’s offices in Cambridge, Grantham, Hull, Lincoln, Wyboston Lakes which services Bedford and Stevenage.
If you are looking to become an Academy then we are on hand to advise on:
- Establishing the financial position – including treatment of land, buildings other assets, funds and surpluses, financial liabilities
- Setting up financial management and reporting systems for day to day management and corporate governance.
- Advising the governors about their responsibilities as company directors / charity trustees
- Providing advice and hand holding support to school officers, business and finance managers on aspects of accounting requirements around year-end procedures
- Advising on the financial reporting requirements, as required by the Company, Academies and Charity legislation
- Advice on the impact and treatment of VAT, especially with regard to trading activities
- Running an Academy
- Financial management in accordance with DfE guidelines
- Year-end reporting
- Our accounting and tax services for Academies includes:
- Annual Accounts preparation
- Advice and guidance on the interpretation of the accounts to Governors
- Accounting Software – including SAGE and specialist software ( Sims, Corero, psfinancials)
- Advice on corporation tax
- Advice on VAT compliance
- Fee protection – HMRC investigations
- Internal Audit and Risk Management
- Free consultation
If you are looking to become a client, in the process of converting to academy status or you are looking for an accountant that specialises in academies and education then we are delighted to offer a free consultation.
For further information and advice please fill out the contact form below.