THE FUTURES TRUST: academy finances
10 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: 1 of 6 academies in deficit
- 2019-20: 1 of 6 academies in deficit
- 2020-21: 2 of 6 academies in deficit
- 2021-22: 2 of 7 academies in deficit
- 2022-23: 2 of 8 academies in deficit
- 2023-24: 2 of 8 academies in deficit
- 2024-25: 4 of 10 academies in deficit
in 2025-26 prices (HM Treasury GDP deflator, October 2026)
In 2023-24 the trust spent £271 per pupil centrally (cash), money that is not counted in its academies' own spending, or £286 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 | -£532k -£2,776 per pupil | £1.3m £6,893 per pupil | £1.5m £7,739 per pupil | No registered parents' association found | — | £2k £10 per pupil | ||
In deficit | -£416k -£1,328 per pupil | £1.9m £6,032 per pupil | £1.9m £6,099 per pupil | Registered, no income filed yet | — | £5k £16 per pupil | ||
In deficit | -£185k -£194 per pupil | £6.8m £7,103 per pupil | £3.7m £3,880 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
In deficit | -£783 -£1 per pupil | £8.2m £7,235 per pupil | £8.1m £7,161 per pupil | No registered parents' association found | — | £19k £17 per pupil | ||
Tight | +£105k +£56 per pupil | £13.7m £7,290 per pupil | £13.5m £7,194 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
Healthy | +£319k +£306 per pupil | £8.5m £8,170 per pupil | £8.2m £7,903 per pupil | No registered parents' association found | — | £2k £2 per pupil | ||
Healthy | +£194k +£290 per pupil | £4.2m £6,211 per pupil | £4.1m £6,203 per pupil | No registered parents' association found | — | £5k £7 per pupil | ||
Large reserves | +£298k +£679 per pupil | £3.3m £7,464 per pupil | £3.2m £7,355 per pupil | No registered parents' association found | — | £4k £9 per pupil | ||
Large reserves | +£1.4m +£741 per pupil | £14.0m £7,568 per pupil | £13.6m £7,365 per pupil | No registered parents' association found | — | £5k £3 per pupil | ||
Large reserves | +£1.7m +£1,537 per pupil | £8.5m £7,805 per pupil | £8.2m £7,521 per pupil | No registered parents' association found | — | £0 £0 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