THE SPENCER ACADEMIES TRUST: academy finances
26 academies with a full-year return, 10 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: 5 of 15 academies in deficit
- 2019-20: 5 of 19 academies in deficit
- 2020-21: 5 of 22 academies in deficit
- 2021-22: 5 of 25 academies in deficit
- 2022-23: 7 of 26 academies in deficit
- 2023-24: 11 of 26 academies in deficit
- 2024-25: 10 of 26 academies in deficit
in 2025-26 prices (HM Treasury GDP deflator, October 2026)
In 2023-24 the trust spent £426 per pupil centrally (cash), money that is not counted in its academies' own spending, or £450 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 | -£435k -£1,043 per pupil | £2.3m £5,573 per pupil | £2.6m £6,161 per pupil | No registered parents' association found | — | £3k £7 per pupil | ||
In deficit | -£167k -£926 per pupil | £1.1m £6,372 per pupil | £1.2m £6,694 per pupil | No registered parents' association found | — | £1k £6 per pupil | ||
In deficit | -£337k -£895 per pupil | £2.5m £6,507 per pupil | £2.4m £6,480 per pupil | £4k | — | £3k £8 per pupil | ||
In deficit | -£395k -£781 per pupil | £4.1m £8,121 per pupil | £4.1m £8,145 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
In deficit | -£176k -£454 per pupil | £3.0m £7,641 per pupil | £2.9m £7,419 per pupil | No registered parents' association found | — | £0 £0 per pupil | ||
In deficit | -£304k -£304 per pupil | £9.0m £9,013 per pupil | £8.9m £8,865 per pupil | No registered parents' association found | — | £10k £10 per pupil | ||
In deficit | -£37k -£211 per pupil | £1.2m £7,168 per pupil | £1.2m £6,803 per pupil | £8k | — | £0 £0 per pupil | ||
In deficit | -£25k -£111 per pupil | £1.4m £6,270 per pupil | £1.4m £6,208 per pupil | No registered parents' association found | — | £4k £18 per pupil | ||
In deficit | -£93k -£100 per pupil | £7.0m £7,435 per pupil | £7.1m £7,601 per pupil | No registered parents' association found | — | £12k £13 per pupil | ||
In deficit | -£14k -£80 per pupil | £1.1m £6,570 per pupil | £1.1m £6,427 per pupil | Registered, no income filed yet | — | £5k £30 per pupil | ||
Tight | +£26k +£17 per pupil | £11.1m £7,335 per pupil | £10.8m £7,125 per pupil | Registered, no income filed yet | — | £1k £1 per pupil | ||
Tight | +£51k +£31 per pupil | £13.3m £8,155 per pupil | £11.7m £7,135 per pupil | £0 £0 per pupil | £0 | £0 £0 per pupil | ||
Tight | +£6k +£31 per pupil | £1.5m £7,671 per pupil | £1.6m £7,955 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