Academies financial returns
Source: gov.uk (2025-08-07)

Further information about the financial returns that academy trusts must submit to DfE.

Introduction

The Department for Education (DfE) collects a variety of data from academy trusts to perform a number of compliance, legal and parliamentary functions. These cover the preparation of:
- sector annual report and accounts (https://www.gov.uk/government/collections/academies-sector-annual-reports-and-accounts) (SARA)
- spending review and HM Treasury requirements
- assurance to Parliament on the oversight of the academy sector
- other legal requirements, such as accounting standards or new legislation
DfE must ensure sector compliance with the academy trust handbook (https://www.gov.uk/government/publications/academy-trust-handbook) accountability and assurance framework, as well as offering support to academy trusts that need it.

Land and buildings collection tool

The land and buildings collection tool (LBCT) is a return that requires academy trusts to tell us about the land it has. This includes how land and buildings – for example, playing fields and school buildings – are occupied and used. The LBCT asks for supporting documentation, such as leaseholds, annotated site plans and tenancy agreements.

The LBCT also asks for details about any other leases your academy trust has entered into. These are largely at summary level, apart from any vehicle leases or leases that are not listed in our LBCT guidance.

All data that has been previously submitted via the LBCT will be pre-populated in the next return. This includes academies that have moved between academy trusts.

Why we ask for this information

We need this documentary evidence as it forms the basis of what we include as recognised assets in the sector annual report and accounts (https://www.gov.uk/government/collections/academies-sector-annual-reports-and-accounts). This documentary evidence is reviewed by DfE as part of the SARA preparation and forms the basis of the audit evidence we present to the National Audit Office. This is to ensure that values included in the SARA show an accurate, consolidated view of the academy sector.

Deadlines

The LBCT will go live on 11 November 2025 and has a submission deadline of 16 December 2025.

More information about LBCT submission

You can read the guide to completing the academies land and building collection tool (https://www.gov.uk/government/publications/academies-land-and-buildings-collection-tool) and use a workbook to help you prepare.

Budget forecast return

The budget forecast return (BFR) collects unaudited data annually, which is split by academic and financial years over the next 3 years.

The BFR collects the data for revenue income and expenditure, capital income and expenditure, pupil numbers, and other financial data such as the details of any loans, investments or cash. The BFR also shows how your trust’s reserves are forecasted to profile over the next 3 years. This should reflect the budgets that your trustees have signed off.

Why we ask for this information

Collecting the BFR gives DfE an insight into academy trusts’ future solvency, forecasts, pupil numbers and helps us identify any academy trusts who could need some support. It also provides the department with assurance about financial governance through compliance with part 2 of the academy trust handbook (https://www.gov.uk/government/publications/academy-trust-handbook).

We use your BFR data as part of our own reporting requirements to HM Treasury and as part of the spending review assessments that help influence future academy budgets. We also use it extensively to analyse trends and forecasts to help with new policy formation, as well as for general analytical review work.

Deadlines

The BFR form went live on 3 June 2025 and has a submission deadline of 28 August 2025.

More information about BFR submission

You can read detailed guidance about the academies budget forecast return (https://www.gov.uk/guidance/academies-budget-forecast-return), which contains the link to the online form.

Academies accounts return

Academy trusts are required to submit an annual accounts return (https://www.gov.uk/guidance/academies-accounts-return) to DfE each year. The accounts return (AR) requires an independent auditor’s sign-off as part of the submission to DfE.

The AR must be completed by all academy trusts that received funding for any part of the academic year they were open, even if they closed part-way through the year.

Why we ask for this information

The AR is used for the academies consolidated annual report and accounts (https://www.gov.uk/government/collections/academies-sector-annual-reports-and-accounts), which consolidates academy trust accounts for the year ending 31 August annually.

The consolidated accounts are a requirement of government, and we must lay these in Parliament each year for scrutiny.

A separate AR is required, as the accounting standards DfE must follow are different to the accounting standards set out in the academy accounts direction (https://www.gov.uk/guidance/academies-accounts-direction) that academy trusts must follow.

The AR also helps DfE to produce benchmarking data (https://schools-financial-benchmarking.service.gov.uk/) that is comparable with other academies and with maintained schools.

Deadlines

The accounts return for 2024 to 2025 will go live on 16 September 2025 and has a submission deadline of 27 January 2026.

More information about the academies accounts return

You can read the guide to completing the academies returns (https://www.gov.uk/guidance/academies-accounts-return).

Academies chart of accounts and automation

The academies chart of accounts (CoA) is DfE’s standard reporting framework for financial reporting and underpins academy trusts’ statutory financial returns.

Why we ask for this information

Using the academies CoA, the department has developed automation technology to reduce the burden of submitting financial returns. This technology enables trusts to electronically submit their trial balance data directly from their financial management software (FMS) to the department, where it will then be used to pre-populate:
- a large proportion of the academies accounts return (AR)
- a draft financial statements template
- a third of the following budget forecast return (BFR)
Trusts are strongly encouraged to adopt the standard academies CoA to improve efficiencies and data quality.

If your trust is looking to upgrade its FMS software, review the guidance on choosing a trust’s financial management system (FMS) (https://www.gov.uk/government/publications/choosing-a-trusts-financial-management-system-fms).

More information about the academies chart of accounts and automation

Read the academies chart of accounts and automation (https://www.gov.uk/government/publications/academies-chart-of-accounts) guidance or join one of our webinars via Eventbrite (https://www.eventbrite.com/cc/dfe-academies-chart-of-accounts-and-automation-3638869?utm-campaign=social&utm-content=creatorshare&utm-medium=discovery&utm-term=odclsxcollection&utm-source=cp&aff=escb) for further information.

Academies accounts direction and financial statements

Why we ask for this information

Timely submission of accounts to DfE is essential for giving assurance to Parliament that academy trusts have used public money for the purposes intended.

The academies accounts direction is used by academy trusts, their auditors and reporting accountants to prepare and audit financial statements for the accounting period ending on 31 August annually.

Deadlines

Academy trusts must submit the following by 31 December 2025:
- audited accounts
- the audit findings report
- an accounts submission cover
- an annual internal scrutiny report
By 31 January 2026, trusts must publish accounts in full on their website.

By 31 May 2026, trusts must file accounts with Companies House.

The academies accounts direction sets out in detail what trusts must submit.

More information about the academies accounts direction

Read the guidance on the academies accounts direction and submitting your audited financial statements (https://www.gov.uk/guidance/academies-accounts-direction) for further information.

How to contact us

If you have any questions about financial returns, you can contact us via the customer help portal (https://customerhelpportal.education.gov.uk/).

Keep up to date

We communicate key actions and reminders, along with the latest information, through DfE Update (https://www.gov.uk/government/collections/dfe-update). You can register to receive regular bulletins (https://www.gov.uk/email/subscriptions/new?topic_id=dfe-update).