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Redriff Primary, City of London Academy: school finances

Latest full year 2024-25, as an academy (accounts return, September to August). Southwark · Primary · Academy converter

In deficit

In deficit by £15k £32 per pupil, 0% of a year's income: it has spent more over the years than it received.

Why schools go into deficit. Most of a school's money goes on people: over 80% of schools' costs are staff costs. So when pay and other costs rise faster than funding, or a school loses pupils and the money that comes with each one, the budget is squeezed quickly and staffing is the only big thing left to cut. In 2024–25 and 2025–26, mainstream school funding per pupil grew by 2 percentage points less than school costs, partly because rising special needs costs took a large share of the extra money. A deficit usually comes from several of these pressures at once, not one bad decision. (IFS, pp. 62–63)

What helps. Schools in this position usually agree a recovery plan with CITY OF LONDON ACADEMIES TRUST, often over two or three years, and governors check progress against it each term. The questions further down are a good way to start that conversation.

Status by year

  1. 2018-19 Large reserves reserve 8% or more of a year's income
  2. 2019-20 Large reserves same as the year before
  3. 2020-21 Large reserves same as the year before
  4. 2021-22 Large reserves same as the year before
  5. 2022-23 Healthy reserve between 3% and 8% of a year's income
  6. 2023-24 Healthy same as the year before
  7. 2024-25 In deficit reserve below zero
Present and share

School presentation · PTFA presentation

School Wrapped: Redriff Primary, City of London Academy's year in money · PTFA Wrapped

Government funding vs spending per pupil

In 2024-25, government funding was £5.5m £11,598 per pupil and spending £6.2m £12,929 per pupil. Spending was £636k £1,331 per pupil more than government funding; the difference came from other income, such as lettings, catering or donations, or from the school's reserve.

Government funding and spending per pupil, 2018-19 to 2024-25Government funding and spending per pupil each year, 2018-19 to 2024-25. 2018-19: funding £8k, spending £8k; 2019-20: funding £9k, spending £10k; 2020-21: funding £10k, spending £10k; 2021-22: funding £9k, spending £10k; 2022-23: funding £9k, spending £11k; 2023-24: funding £11k, spending £12k; 2024-25: funding £12k, spending £13k£4,000£6,000£8,000£10,000£12,0002018-192020-212022-232024-25Gov. fundingSpendingSimilarGov. fundingSpending

Funding is the money a school receives; spending is what it pays out. The two differ when a school adds to or draws on its savings, and because some money is spent on its pupils by someone else: the council (for example special needs top-ups and transport) or, for academies, the trust's central team. (IFS, pp. 7, 10, 46, 52, 54)

Government funding is the academy accounts line "grant funding from government" in academy (AAR) years and the CFR grant funding total in council-run years. The two are not strictly comparable: CFR line I07 can include some money that is not from government.

Real terms: in 2025-26 prices (HM Treasury GDP deflator, October 2026).

Reserve per pupil by year

Reserve per pupil, 2018-19 to 2024-25Reserve per pupil at the end of each year. 2018-19: £1k; 2019-20: £1k; 2020-21: £1k; 2021-22: £942; 2022-23: £420; 2023-24: £587; 2024-25: -£207-£1,000£0£1,0002018-192020-212022-232024-25ReserveSimilarReserve

Real terms: in 2025-26 prices (HM Treasury GDP deflator, October 2026).

Each year's figures, newest first
YearPupilsIncomeSpendingIn-year balanceReserve at year end
2024-25478.0£6.0m £12,494 per pupil£6.2m £12,929 per pupil-£208k -£435 per pupil-£99k -£207 per pupil
2023-24496.0£6.0m £12,141 per pupil£5.9m £11,843 per pupil+£148k +£298 per pupil£291k £587 per pupil
2022-23538.0£5.5m £10,284 per pupil£5.8m £10,803 per pupil-£279k -£519 per pupil£226k £420 per pupil
2021-22554.0£5.8m £10,404 per pupil£5.7m £10,220 per pupil+£102k +£184 per pupil£522k £942 per pupil
2020-21540.0£5.7m £10,559 per pupil£5.4m £10,046 per pupil+£277k +£513 per pupil£730k £1,352 per pupil
2019-20557.0£5.4m £9,659 per pupil£5.7m £10,296 per pupil-£355k -£637 per pupil£633k £1,136 per pupil
2018-19563.0£5.2m £9,171 per pupil£4.6m £8,197 per pupil+£548k +£973 per pupil£786k £1,396 per pupil

Where the money comes from

Income in 2024-25, with the trend per pupil since 2018-19
Line2024-25Trend per pupilChange per pupil since 2018-19Similar schools (median per pupil)
Total income£6.0m £12,494 per pupil+36% +7% real£8k
Government funding£5.5m £11,598 per pupil+38% +9% real£8k
Special needs (SEN) funding£531k £1,111 per pupil+86% +46% real£396
Pupil premiumNot reported in academy accounts
Money the school raised itself£428k £895 per pupil+53% +20% real£339
Donations (day-to-day)£9k £19 per pupil+111% +58% real£4
Donations for buildings and equipmentNot reported in academy accounts
Facilities and services£365k £764 per pupil+46% +15% real£248
Catering income£0 £0 per pupil-100% -100% real£2
Other DfE grants£453k £948 per pupil+20% -5% real£401

Other DfE grants is a container line. It includes the grants that cover higher employer pension and National Insurance costs, which cannot be separated out, so no figure is shown for them on their own. Not every rise in a school's income is extra spending power. When the government raised what schools pay as employers into staff pensions and National Insurance, it gave schools grants to cover the bill. The IFS describes this as extra money to pay for extra outgoings, with no change in real resources. About £2.3 billion of the growth in school funding between 2019–20 and 2025–26 was this kind of grant. So when a school's income jumps, check whether its staff costs jumped by the same amount: the money may simply have passed through. (IFS, p. 50)

Academy accounts don't report pupil premium as a separate line, so it is shown as not reported rather than as zero.

Where it goes

Spending in 2024-25, with the trend per pupil since 2018-19
Line2024-25Trend per pupilChange per pupil since 2018-19Similar schools (median per pupil)
Total spending£6.2m £12,929 per pupil+58% +24% real£8k
Teachers£2.2m £4,590 per pupil+44% +13% real£4k
Supply staff£209k £437 per pupil+247% +172% real£152
Support staff£1.3m £2,695 per pupil+124% +76% real£2k
Office and admin staff£436k £912 per pupil+32% +4% real£356
Premises staff£82k £172 per pupil-1% -23% real£165
Catering staff£160k £335 per pupil£0
Other staff costs£485k £1,015 per pupil+51% +19% real£225
All staff costs£4.6m £9,649 per pupil+64% +29% real£6k
Premises£285k £596 per pupil+93% +52% real£413
Energy£33k £69 per pupil+146% +89% real£118
Rates, water and other building costs£442k £925 per pupil+257% +181% real£695
Catering£314k £657 per pupil+430% +316% real£416
Learning resources£125k £262 per pupil-77% -82% real£243
Supplies and services£841k £1,759 per pupil+34% +5% real£662
Bought-in services£521k £1,090 per pupil+599% +447% real£319

Staff costs were 75% of this school's spending in 2024-25. Across England, over 80% of schools' costs are staff costs. (IFS, p. 63)

In 2025-26 prices, this school spent £6.3m £13,178 per pupil in 2024-25. Across England, primary schools are expected to spend about £7,000 per pupil in 2025–26. (IFS, p. 7)

Academy figures exclude the trust's central spending on its schools, so they can look lower than a council-run school's. See the trust's central spending below.

Pupils by year

  1. 2018-19 563.0
  2. 2019-20 557.0
  3. 2020-21 540.0
  4. 2021-22 554.0
  5. 2022-23 538.0
  6. 2023-24 496.0
  7. 2024-25 478.0

Pupil numbers fell from 563.0 to 478.0 (15% fewer) over the years shown.

Schools are mostly funded per pupil, so fewer pupils means less money. Costs do not fall in step: a class with a few fewer pupils still needs a teacher. Primary schools in England have already lost about 100,000 pupils (3%) between 2019–20 and 2024–25, and are expected to lose over 300,000 more (about 8%) by 2030–31. Secondary numbers are expected to start falling from about 2026–27. The IFS points out that money is only saved if schools actually reduce what they spend, such as staff or the number of schools. That is why a well-run school with falling numbers can still find its budget under pressure. (IFS, pp. 19, 64)

Trust central spending

What CITY OF LONDON ACADEMIES TRUST spent centrally per pupil, on top of this school's own accounts:

  1. 2018-19 £132
  2. 2019-20 £192
  3. 2020-21 -£42
  4. 2021-22 £182
  5. 2022-23 £160
  6. 2023-24 £238
  7. 2024-25 £479

These are cash figures. The IFS average below is in 2025-26 prices.

On average, academy trusts spent £510 per pupil centrally in 2023–24, money that is not counted in their individual schools' own spending. (IFS, p. 56)

Money raised by parents

No registered parents' association found for Redriff Primary, City of London Academy. Charities with an income of £5,000 or less a year don't have to register with the Charity Commission, so many schools have an active PTA or friends' group that isn't on the register.

Across England, the typical registered parents' association raised £50 per pupil in 2025-26.

Intake and area

academy · Primary · Mixed · CITY OF LONDON ACADEMIES TRUST (multi-academy trust)

Intake band 3 of 5 nationally, combining free-school-meal eligibility and the deprivation of the school's neighbourhood (1 = least disadvantaged, 5 = most).

Context, not a judgement: schools with different intakes get different funding and face different costs.

How my school's money is split

For pupils: out of every pound the school spent in 2024-25, here is roughly where it went, with the amount for each pupil.

National context

Questions to ask the school

Useful for parents, governors and PTFA committees.

  1. What is the plan to get Redriff Primary, City of London Academy back into balance, and how many years will it take? Has CITY OF LONDON ACADEMIES TRUST agreed it?
  2. How many pupils does Redriff Primary, City of London Academy expect in each year group over the next three years? Why ask: Primary pupil numbers in England are expected to fall by over 300,000 (about 8%) by 2030–31. (IFS, p. 19)
  3. How many pupils at Redriff Primary, City of London Academy have an EHCP or need extra support, and how is support above the first £6,000 a year funded? Why ask: Mainstream schools are expected to fund the first £6,000 a year per pupil from their core budget. (IFS, p. 46)
  4. How much of Redriff Primary, City of London Academy's funding does CITY OF LONDON ACADEMIES TRUST keep centrally each year, and what does the school get for it? Why ask: Academy trusts spent £510 per pupil centrally in 2023–24 on average. (IFS, p. 56)
  5. How much does the PTA (or friends' association) raise each year, and what does it pay for?
  6. What is driving the deficit: falling pupil numbers, staff costs, special needs support, or something else? Why ask: Over 80% of schools' costs are staff costs. (IFS, p. 63)
  7. Is the school planning to merge classes, share staff or work more closely with another school?
  8. Does the council's top-up money arrive on time and cover what the support actually costs?

Check at source

Every figure here comes from the school's published return. Check it on the DfE benchmarking page for this school, and see how the figures are worked out.

Similar schools: the closest in phase, size and share of pupils on free school meals.

Compare side by side

Admissions and catchments for Redriff Primary, City of London Academy on Schools in Reach · All Southwark school finances · Schools in Bermondsey and Old Southwark · CITY OF LONDON ACADEMIES TRUST