Our Lady of Victories RC Primary School: school finances
Latest full year 2024-25, as a council-run school (CFR return, April to March). Kensington and Chelsea · Primary · Academy converter
Tight
Holds £36k £215 per pupil in reserve, under 3% of a year's income: little room for surprises.
Status by year
- 2018-19 Large reserves reserve 8% or more of a year's income
- 2019-20 Large reserves same as the year before
- 2020-21 Large reserves same as the year before
- 2021-22 Large reserves same as the year before
- 2022-23 Large reserves same as the year before
- 2023-24 Heading for deficit spending more than it received, reserve running down
- 2024-25 Tight reserve under 3% of a year's income
Government funding vs spending per pupil
In 2024-25, government funding was £1.4m £8,231 per pupil and spending £1.5m £8,887 per pupil. Spending was £111k £656 per pupil more than government funding; the difference came from other income, such as lettings, catering or donations, or from the school's reserve.
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
Real terms: in 2025-26 prices (HM Treasury GDP deflator, October 2026).
| Year | Pupils | Income | Spending | In-year balance | Reserve at year end |
|---|---|---|---|---|---|
| 2024-25 | 169.0 | £1.5m £8,918 per pupil | £1.5m £8,887 per pupil | +£5k +£30 per pupil | £36k £215 per pupil |
| 2023-24 | 180.0 | £1.3m £7,421 per pupil | £1.4m £7,960 per pupil | -£97k -£539 per pupil | £31k £173 per pupil |
| 2022-23 | 181.0 | £1.2m £6,533 per pupil | £1.3m £7,040 per pupil | -£92k -£507 per pupil | £128k £708 per pupil |
| 2021-22 | 172.0 | £1.2m £7,098 per pupil | £1.2m £7,033 per pupil | +£11k +£65 per pupil | £220k £1,278 per pupil |
| 2020-21 | 180.0 | £1.3m £7,244 per pupil | £1.3m £7,092 per pupil | +£27k +£152 per pupil | £209k £1,159 per pupil |
| 2019-20 | 203.5 | £1.4m £6,764 per pupil | £1.4m £6,767 per pupil | -£603 -£3 per pupil | £181k £891 per pupil |
| 2018-19 | 220.0 | £1.4m £6,376 per pupil | £1.3m £6,101 per pupil | +£61k +£275 per pupil | £182k £827 per pupil |
Where the money comes from
| Line | 2024-25 | Trend per pupil | Change per pupil since 2018-19 | Similar schools (median per pupil) |
|---|---|---|---|---|
| Total income | £1.5m £8,918 per pupil | +40% +10% real | £8k | |
| Government funding | £1.4m £8,231 per pupil | +37% +8% real | £8k | |
| Special needs (SEN) funding | £49k £291 per pupil | +35% +6% real | £468 | |
| Pupil premium | £33k £194 per pupil | +78% +41% real | £321 | |
| Money the school raised itself | £116k £686 per pupil | +76% +39% real | £439 | |
| Donations (day-to-day) | £108k £639 per pupil | +432% +320% real | £43 | |
| Donations for buildings and equipment | £0 £0 per pupil | £0 | ||
| Facilities and services | £166 £1 per pupil | -67% -75% real | £246 | |
| Catering income | £7k £39 per pupil | -85% -89% real | £2 | |
| Other DfE grants | £49k £290 per pupil | +14% -10% real | £292 |
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)
Where it goes
| Line | 2024-25 | Trend per pupil | Change per pupil since 2018-19 | Similar schools (median per pupil) |
|---|---|---|---|---|
| Total spending | £1.5m £8,887 per pupil | +46% +15% real | £9k | |
| Teachers | £689k £4,076 per pupil | +39% +10% real | £4k | |
| Supply staff | £86k £510 per pupil | £294 | ||
| Support staff | £227k £1,345 per pupil | +30% +2% real | £1k | |
| Office and admin staff | £111k £657 per pupil | +97% +55% real | £454 | |
| Premises staff | £13k £76 per pupil | -29% -45% real | £253 | |
| Catering staff | £0 £0 per pupil | £0 | ||
| Other staff costs | £14k £83 per pupil | -14% -32% real | £182 | |
| All staff costs | £1.1m £6,673 per pupil | +52% +20% real | £6k | |
| Premises | £60k £357 per pupil | +11% -13% real | £499 | |
| Energy | £34k £201 per pupil | +196% +134% real | £155 | |
| Rates, water and other building costs | £147k £872 per pupil | +40% +11% real | £744 | |
| Catering | £76k £448 per pupil | +2% -19% real | £426 | |
| Learning resources | £42k £249 per pupil | -47% -58% real | £355 | |
| Supplies and services | £166k £985 per pupil | +30% +2% real | £989 | |
| Bought-in services | £90k £533 per pupil | +147% +95% real | £478 |
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 £1.6m £9,185 per pupil in 2024-25. Across England, primary schools are expected to spend about £7,000 per pupil in 2025–26. (IFS, p. 7)
Pupils by year
- 2018-19 220.0
- 2019-20 203.5
- 2020-21 180.0
- 2021-22 172.0
- 2022-23 181.0
- 2023-24 180.0
- 2024-25 169.0
Pupil numbers fell from 220.0 to 169.0 (23% 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)
Income that passed straight through
In 2024-25, this school's income rose by +£171k +£1,014 per pupil on the year before, and its staff costs by +£144k +£855 per pupil. Much of the extra money may have gone straight out again on higher pay, pension and National Insurance costs.
About £2.3 billion of the rise in school funding since 2019–20 was grants to cover higher employer pension and National Insurance costs, not extra spending power. (IFS, p. 50)
Money raised by parents
| School year | Raised | Spent |
|---|---|---|
| 2024-25 year to August 2024 | £81k £478 per pupil | £49k £291 per pupil |
| 2023-24 year to August 2023 | £36k £202 per pupil | £20k £110 per pupil |
| 2022-23 year to August 2022 | £24k £131 per pupil | £6k £31 per pupil |
| 2021-22 year to August 2021 | £8k £45 per pupil | £5k £26 per pupil |
- OUR LADY OF VICTORIES SCHOOL PTA (charity 1139497) Latest return: £24k in the year to August 2025. It reports 10 volunteers. Annual return due 30 June 2026.
Each return is placed in the school year that holds the end of the charity's financial year, and per-pupil figures use that year's pupils. A parents' association's money is its own and isn't in the school's accounts above. Money a parents' association gives the school can also appear in the school's own accounts as donations, so the two can overlap. They are shown separately here and never added together.
Across England, the typical registered parents' association raised £50 per pupil in 2025-26.
Intake and area
- 20% of pupils eligible for free school meals (median school: council 44%, England 22%)
- Neighbourhood deprivation decile 7 of 10 (1 = most deprived)
- Income deprivation affecting children: decile 10 of 10 (1 = most deprived)
- 74% of adults nearby hold a degree-level qualification
- 41% of nearby homes are owner-occupied
- 4% of nearby homes are social rented
Intake band 2 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.
- Teachers £775k £4,585 per pupil
- Support staff £227k £1,345 per pupil
- Buildings and grounds £60k £357 per pupil
- Energy £34k £201 per pupil
- Learning resources £42k £249 per pupil
- Everything else £363k £2,149 per pupil
National context
- In 2024–25 and 2025–26, mainstream school funding per pupil grew by 2 percentage points less than school costs nationally. (IFS, p. 62)
- Primary pupil numbers in England are expected to fall by over 300,000 (about 8%) between 2024–25 and 2030–31. (IFS, p. 19)
- Council-run primary schools spend about £400 (6%) more per pupil than primary academies, and council-run secondaries about £300 (4%) more, partly because trusts spend some money centrally. (IFS, p. 56)
- Pupil premium is £1,515 a year per eligible primary pupil and £1,075 per eligible secondary pupil, over 16% lower in real terms than in 2015–16. (IFS, p. 51)
- Mainstream schools are expected to fund the first £6,000 a year of extra support for a pupil with special needs from their own budget. (IFS, p. 46)
Questions to ask the school
Useful for parents, governors and PTFA committees.
- With £36k £215 per pupil in reserve, what would happen if costs rose faster than expected next year? Why ask: Pay awards are set each year by the government after independent advice; the IFS says the picture is tight for schools if they follow forecast earnings growth. (IFS, p. 63)
- How many pupils does Our Lady of Victories RC Primary School 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)
- How much does the PTA (or friends' association) raise each year, and what does it pay for?
- Which costs does Our Lady of Victories RC Primary School expect to rise most next year?
- Is the school planning to merge classes, share staff or work more closely with another school?
- How does Our Lady of Victories RC Primary School's spending per pupil compare with similar schools, and why? Why ask: Nationally, primaries spend about £7,000 and secondaries about £7,800 per pupil in 2025–26. (IFS, p. 7)
- Is the budget relying on one-off grants or fundraising to balance?
- Has the council talked about reducing places, merging or closing schools in this area? Why ask: The IFS notes savings from falling numbers only come if staff or the number of schools are reduced. (IFS, p. 64)
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.
- St Mary's Hampton Church of England Primary
- St Theresa's Catholic Primary School
- Sacred Heart Catholic Primary School
- Garden Suburb Infant School
- St John Fisher Catholic Primary School
Admissions and catchments for Our Lady of Victories RC Primary School on Schools in Reach · All Kensington and Chelsea school finances · Schools in Kensington and Bayswater · SAINT JOHN SOUTHWORTH CATHOLIC ACADEMY TRUST
- DfE Financial Benchmarking and Insights Tool data: CFR returns for council-run schools (April to March) and academy accounts returns (September to August), Open Government Licence v3.0
- Get Information about Schools, Open Government Licence v3.0
- Charity Commission register, Open Government Licence v3.0
- National context: IFS, Annual report on education spending in England: 2025–26 (January 2026); IFS figures are in 2025-26 prices (HM Treasury GDP deflator, November 2025)
- Real-terms figures on this page: in 2025-26 prices (HM Treasury GDP deflator, October 2026)