Academies: About Us
Specialist Academy Accountants
Our expert team of academy accountants provide the full range of services to academy schools and colleges including; audit, accounts, payroll, VAT, accounting software solutions (Sage, FMS, PS Financials and Corero) as well as conversion support. Our team is working with over 100 new-style academy primary schools, secondary schools and colleges throughout Devon, Cornwall, Bristol, Somerset, Dorset and Gloucestershire and Worcester.
The opportunity for schools considering Academy status is clearly appealing as it provides the school management team with greater control over their finances. However, schools and colleges thinking of becoming an academy should take advice from a specialist education accountant with experience in Audit and Accounts for Academies, as there are potentially a number of pitfalls which Academies should be aware of prior to conversion.
Weighing-up the pros and cons of Academy Status
“Bishop Fleming were a tremendous support during our conversion process; their specialist experience meant they were able to offer a very proactive service, steering us past the inevitable barriers and pitfalls. They felt like genuine partners throughout, no question was too small and advice was always solution focussed.” Ben Brook,
Newton Abbot College
If your school is considering whether or not to apply for Academy Status, you may wish to undertake a Due Diligence Review prior to application to ensure that you are fully aware of all the financial, governance and funding implications of a transition and whether it is a viable option for your school or college. At Bishop Fleming Chartered Accountants, we can undertake a full review and discuss the pros and cons with you.
Transferring to Academy Status
If you decide to apply for Academy Status, our experienced accountants can provide you with expert advice and guidance throughout the process. Our expert service covers the full range of requirements including;
- School Statutory Audit & Full Annual Accounts preparation including annual reports, liaising with HMRC and preparing Charity Commission submissions
- Full Managed Payroll Services & Support
- Regulatory matters (including Teachers Pension Scheme and Local Government Pension Scheme / certificates)
- Review of Banking Arrangements
- Accounting Software, Training & Support (Sage, FMS, PS Financials and Corero)
- Ensuring that Academies are created with the appropriate legal structure
Our team will also provide full support to your finance department by:
- Advising on the financial implications of land transactions (freehold, leasehold and licences)
- Assisting with calculating the surplus/deficit at the date of transfer and negotiating with the LA
- Assisting with the cash flow implications of the surplus/deficit
- Assisting with the role of Accounting officer
- Advising on VAT and corporation tax issues, eg trading activities (eg letting income) and property transactions
- Providing guidance on financial and regulatory compliance including understanding the charities SORP
- Training and guidance for governors and the finance team
“Becoming an Academy is both exciting and daunting. Having done our research, we found Bishop Fleming not only competitive but they offered a bespoke service to support schools through this process. We, at St Margaret’s Academy, have found their service to be both professional and highly supportive. With the Government guidelines and rules frequently changing, they have kept up to date and us informed. We look forward to a long relationship with Bishop Fleming.” Nicky Rogers,
St Margaret’s Academy
With around 250 education, charity and not-for-profit clients including 100 academies, Bishop Fleming can be considered one of the leading advisers to Academy schools in the South West.
For further information, please contact your nearest office today.