The main changes are summarised below:
a. Trade union facility time – Trusts are no longer required to report trade union facility time due to the repeal of the relevant publication requirements.
b. SECR reporting – Updated guidance requires larger trusts to ensure their SECR narrative reflects current DfE sustainability expectations and climate action plans.
c. Future outlook – Trusts are encouraged to refer to forthcoming changes to the Charities SORP and accounting standards, which will significantly affect the 2026/27 reporting cycle.
a. Restructuring costs – Payments in Lieu of Notice (PILON) must now be disclosed within restructuring costs, alongside redundancy and severance, rather than within general gross pay.
b. Higher paid staff – Trusts must include a narrative where part time or part year staff would have exceeded the £60,000 threshold on a full time equivalent basis.
c. Key Management Personnel (KPM) – The KPM definition has been revised to align with wider accounting standards. Trusts must now disclose remuneration accrued in one year but paid in the next, with particular emphasis on the Accounting Officer.
a. CEO as Trustee – Remuneration disclosure is not required in the “Trustees’ remuneration” note where the CEO, Headteacher, or Principal is not formally a trustee.
b. Regularity and propriety – Definitions have been expanded and reordered to reflect the latest HM Treasury Managing Public Money guidance.
c. Finance leases – Further model disclosures and “Totals” columns have been added to long term commitments notes, building on the increased lease flexibility introduced in 2024/25.
a. ESFA branding – All ESFA references have been removed. Queries and submissions are now managed directly by the Department for Education via the Customer Help Portal.
b. Model accounts (“Coketown”) – The model accounts have been updated and as in prior years all changes are highlighted in yellow to support compliance checks.
Regular updates to this guidance help maintain transparency, consistency and alignment with statutory obligations, keeping financial reporting robust and fit for purpose.
If you would like to discuss any of these changes or any other academy matter, please contact our Education team, detailed below.
Full guidance can be found on Gov.uk here: Academies accounts direction and submitting your audited financial statements – GOV.UK
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