Financial Reporting
The Academy Trust Handbook specifies the compliance regulation, legal and financial framework under which New Education Trust operates to comply with its DfE Funding Agreement.
Management Accounts Report
Internally prepared by the CFOO, these reports are periodical, detailed and crucial for the Trust Board to monitor budgets against financial and operational performance.
Annual Accounts Return
This provides a comprehensive financial overview of the Trust as a single corporate entity operating multiple schools. These are externally prepared for the entire Trust, submitted to the Department for Education (DfE) and managed through a standardised system called the academies chart of accounts (CoA). Our three-year annual accounts reports are available for public scrutiny below.
Single Legal Entity
New Education is a single charitable trust responsible for multiple schools, and the accounts reflect this unified structure.
Unified Reporting
Financial statements for the entire trust are filed with the DfE.
Central vs. School funding
New Education use a ‘hybrid’ funding model, combining a variable percentage from each school’s budget and a per pupil lump sum, to fund central services and operations like HR, IT, and Facilities. The accounts reflect this central expenditure alongside the operational costs of individual schools.
DfE and Charity Commission Compliance
New Education Trust must publish on its website the number of employees whose benefits exceeded £100,000, in £10,000 bandings, for the previous year ended 31 August. Benefits for this purpose include salary, employers’ pension contributions, other taxable benefits and termination payments.
The Charity Commission’s regulations for their annual return requires charities provide information about the total remuneration received by their staff members. The Commission make public how many individuals receive total packages worth upwards of £60,000, in £10,000 bandings.
| The number of employees whose employee benefits exceeded £60,000 was: | |
| 2024-2025 | |
| In the Band £60001 -£70,000 | 0 |
| In the Band £70001 -£80,001 | 3 |
| In the Band £100,001 -£110,001 | 1 |