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Academies and Schools

Hobsons have years of experience in dealing with the education and charitable sector and currently act for a number of schools and charities providing audit, accounting, payroll and advisory services. A new impetus has been given to this sector by the Governments drive to encourage schools to convert to academies created by the Academies Act 2010.

Conversion can be seen as an attractive proposition. Schools will have greater control over choosing their curriculum, admissions policies and means of rewarding staff. Conversion can also provide greater freedom from local authority control, and allows access to funds previously retained by the local authority, enabling commissioning of goods and services from a wider range of sources leading to efficiencies and cost savings.

Academy status also carries with it increased responsibilities. Established financial and reporting systems may require significant upgrading, with the introduction of more robust systems of internal control and compliance. Academy schools will now require a statutory audit. Management and governors may also require support and direction in their new roles.

Hobsons offer a partner led team, providing a wide range of accounting and ancillary services to schools and academies across Nottinghamshire, Derbyshire and Lincolnshire. We are able to assist with a full range of compliance and management matters, including:

Regulatory compliance

• Academy auditors
• Preparation of statutory accounts from your year end trial balances and management accounts
• Company secretarial advice and assistance
• Advising management and governors of their roles and responsibilities as directors

Support for your financial management team

• Advice on structuring your accounting system and nominal ledger coding to provide you with the reports you need
• Onsite training of your team to help them develop their skills in their new roles
• Assistance with preparation of management accounts
• Assistance with preparation of budgets and submission of returns to YPLA
• Completion of Teachers Pension Scheme and TR17a returns
• Responsible Officer role and extending this beyond the minimum required by the Academies Financial Handbook
• Payroll bureau service and support
• VAT review and advice
• Other taxation matters.

For further information and advice please email academies@hobsons.biz or contact Jim Scully (Nottingham) or Steve Harrison (Newark).