THE LEAF TRUST: academy finances
14 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.
- 2023-24: 6 of 12 academies in deficit
- 2024-25: 0 of 14 academies in deficit
in 2025-26 prices (HM Treasury GDP deflator, October 2026)
In 2023-24 the trust spent £405 per pupil centrally (cash), money that is not counted in its academies' own spending, or £428 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 |
|---|---|---|---|---|---|---|---|---|
Heading for deficit | +£83k +£196 per pupil | £2.9m £6,886 per pupil | £2.9m £6,936 per pupil | £26k £62 per pupil | £62 | £11k £26 per pupil | ||
Heading for deficit | +£122k +£196 per pupil | £4.4m £7,123 per pupil | £4.3m £6,963 per pupil | £13k | — | £0 £0 per pupil | ||
Tight | +£33k +£196 per pupil | £1.2m £7,113 per pupil | £1.2m £6,917 per pupil | Had a registered PTA until 2014 | — | £6k £36 per pupil | ||
Tight | +£41k +£196 per pupil | £1.7m £8,000 per pupil | £1.7m £8,024 per pupil | £14k | — | £2k £10 per pupil | ||
Tight | +£40k +£196 per pupil | £1.3m £6,328 per pupil | £1.3m £6,451 per pupil | £8k £38 per pupil | £38 | £3k £15 per pupil | ||
Tight | +£57k +£196 per pupil | £2.0m £6,777 per pupil | £2.0m £6,753 per pupil | £13k £45 per pupil | £45 | £7k £24 per pupil | ||
Tight | +£109k +£196 per pupil | £3.5m £6,242 per pupil | £3.7m £6,699 per pupil | £6k £12 per pupil | £12 | £3k £5 per pupil | ||
Tight | +£45k +£196 per pupil | £1.4m £6,238 per pupil | £1.5m £6,532 per pupil | £11k | — | £6k £26 per pupil | ||
Healthy | +£85k +£196 per pupil | £2.6m £6,065 per pupil | £2.6m £5,944 per pupil | £13k £30 per pupil | £30 | £4k £9 per pupil | ||
Healthy | +£58k +£196 per pupil | £2.0m £6,621 per pupil | £1.9m £6,396 per pupil | £14k £49 per pupil | £49 | £1k £3 per pupil | ||
Healthy | +£80k +£196 per pupil | £2.3m £5,671 per pupil | £2.3m £5,522 per pupil | £21k £51 per pupil | £51 | £13k £32 per pupil | ||
Healthy | +£48k +£196 per pupil | £1.5m £5,898 per pupil | £1.5m £6,195 per pupil | No registered parents' association found | — | £12k £49 per pupil | ||
Healthy | +£79k +£196 per pupil | £2.3m £5,679 per pupil | £2.3m £5,831 per pupil | £19k | — | £4k £10 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