THE ENQUIRE LEARNING TRUST: academy finances
32 academies with a full-year return, 4 of them in deficit at their latest return. A trust can move money between its academies, so an academy shown in deficit may be supported by the trust as a whole.
Most of a school's money pays for staff, so deficits usually build up when pay and other costs rise faster than funding, or when pupil numbers fall and the money that comes with each pupil goes too. What helps: a recovery plan agreed with the council or trust that brings the budget back into balance over a few years, regular forecasts that governors check, and early conversations about pupil numbers and special needs funding.
- 2018-19: 6 of 29 academies in deficit
- 2019-20: 4 of 29 academies in deficit
- 2020-21: 2 of 29 academies in deficit
- 2021-22: 4 of 29 academies in deficit
- 2022-23: 9 of 30 academies in deficit
- 2023-24: 7 of 32 academies in deficit
- 2024-25: 4 of 32 academies in deficit
in 2025-26 prices (HM Treasury GDP deflator, October 2026)
In 2023-24 the trust spent £408 per pupil centrally (cash), money that is not counted in its academies' own spending, or £431 in 2025–26 prices. The IFS average for all trusts in 2023-24 was £510 per pupil, in 2025–26 prices (IFS, p.56).
Figures are each school's latest full-year return, total with the per-pupil figure beside it. PTA income is the school's share of its registered parents' association's latest return, in the school year that return falls in. Where no registered parents' association was found, the school may still have one: charities with an income of £5,000 or less need not register.
| School | Status | Reserve | Government funding | Spending | PTA income | PTA per pupil | Donations | Reserve per pupil trend |
|---|---|---|---|---|---|---|---|---|
In deficit | -£170k -£701 per pupil | £1.7m £6,965 per pupil | £1.8m £7,278 per pupil | £13k | — | £0 £0 per pupil | ||
In deficit | -£60k -£188 per pupil | £1.7m £5,400 per pupil | £1.9m £5,962 per pupil | Registered, no income filed yet | — | £8k £25 per pupil | ||
In deficit | -£11k -£47 per pupil | £1.4m £6,018 per pupil | £1.4m £6,031 per pupil | £0 £0 per pupil | £0 | £0 £0 per pupil | ||
In deficit | -£7k -£37 per pupil | £1.1m £5,978 per pupil | £1.1m £6,211 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Tight | +£9k +£45 per pupil | £1.1m £5,860 per pupil | £1.2m £6,192 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Tight | +£30k +£140 per pupil | £1.8m £8,498 per pupil | £2.0m £9,274 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Tight | +£24k +£107 per pupil | £1.3m £5,836 per pupil | £1.3m £5,920 per pupil | £5k £20 per pupil | £20 | £5k £22 per pupil | ||
Tight | +£39k +£174 per pupil | £1.4m £6,063 per pupil | £1.3m £5,884 per pupil | No registered parents' association found | — | £1k £4 per pupil | ||
Tight | +£47k +£200 per pupil | £1.6m £6,888 per pupil | £1.6m £6,947 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Tight | +£81k +£170 per pupil | £2.7m £5,648 per pupil | £2.7m £5,775 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Healthy | +£152k +£232 per pupil | £3.9m £5,953 per pupil | £3.8m £5,826 per pupil | No registered parents' association found | — | £12k £18 per pupil | ||
Healthy | +£63k +£326 per pupil | £1.6m £8,151 per pupil | £1.6m £8,255 per pupil | No registered parents' association found | — | £1k £5 per pupil | ||
Healthy | +£96k +£335 per pupil | £2.2m £7,695 per pupil | £2.2m £7,744 per pupil | No registered parents' association found | — | £1k £4 per pupil |
Sources: DfE Financial Benchmarking and Insights Tool data (CFR returns for council-run schools, April to March; academy accounts returns, September to August), Get Information about Schools, DfE section 251 outturn (DSG balances), the Charity Commission register and the IFS annual report on education spending in England 2025–26 (IFS figures in 2025–26 prices, November 2025 deflator). Open Government Licence v3.0. Check at source: DfE benchmarking for this trust. How these figures are worked out