THE KEYS ACADEMY TRUST: academy finances
12 academies with a full-year return, 0 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.
- 2019-20: 0 of 6 academies in deficit
- 2020-21: 0 of 9 academies in deficit
- 2021-22: 0 of 9 academies in deficit
- 2022-23: 0 of 9 academies in deficit
- 2023-24: 0 of 10 academies in deficit
- 2024-25: 0 of 12 academies in deficit
in 2025-26 prices (HM Treasury GDP deflator, October 2026)
In 2023-24 the trust spent £184 per pupil centrally (cash), money that is not counted in its academies' own spending, or £194 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 |
|---|---|---|---|---|---|---|---|---|
Tight | +£1k +£6 per pupil | £1.2m £5,985 per pupil | £1.2m £6,069 per pupil | £21k | — | £20k £99 per pupil | ||
Tight | +£34k +£162 per pupil | £1.2m £5,558 per pupil | £1.3m £6,029 per pupil | £20k | — | £23k £111 per pupil | ||
Healthy | +£51k +£225 per pupil | £1.5m £6,531 per pupil | £1.6m £7,106 per pupil | £15k | — | £78k £345 per pupil | ||
Healthy | +£62k +£373 per pupil | £1.1m £6,530 per pupil | £1.2m £7,175 per pupil | £37k £209 per pupil | £209 | £7k £42 per pupil | ||
Healthy | +£63k +£454 per pupil | £883k £6,353 per pupil | £854k £6,144 per pupil | £23k | — | £12k £86 per pupil | ||
Healthy | +£116k +£497 per pupil | £1.3m £5,483 per pupil | £1.4m £5,953 per pupil | £0 £0 per pupil | £0 | £21k £90 per pupil | ||
Large reserves | +£59k +£749 per pupil | £590k £7,468 per pupil | £620k £7,848 per pupil | No registered parents' association found | — | £3k £38 per pupil | ||
Large reserves | +£314k +£851 per pupil | £2.2m £5,886 per pupil | £2.3m £6,127 per pupil | £7k £20 per pupil | £20 | £5k £14 per pupil | ||
Large reserves | +£344k +£1,011 per pupil | £2.3m £6,673 per pupil | £2.3m £6,652 per pupil | No registered parents' association found | — | £17k £50 per pupil | ||
Large reserves | +£519k +£1,117 per pupil | £2.7m £5,806 per pupil | £2.9m £6,267 per pupil | £43k £90 per pupil | £90 | £25k £54 per pupil | ||
Large reserves | +£217k +£1,653 per pupil | £909k £6,939 per pupil | £946k £7,221 per pupil | No registered parents' association found | — | £1k £8 per pupil | ||
Large reserves | +£221k +£2,353 per pupil | £881k £9,372 per pupil | £807k £8,585 per pupil | £3k £29 per pupil | £29 | £6k £64 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