Financial & Annual Report


This page is under re- construction - Please check later


The academy Financial Year (FY) mirrors the academic year, i.e. from 1st September to 31st August.

  • Chair of ATB: Jenny Lewis
  • Accounting Officer: Kevin Prunty
  • Chief Finance Officer: Carrie Bendix
  • Academy Business Manager: Rakhwinder Gill

The ATB delegates significant finance responsibilty to:

  • Audit & Compliance Committee
  • Finance & Monitoring Committee
  • Pay and Performance Management Committee

The Academies Financial Handbook (AFH) is updated for 1 September each year and comes into force immediately on that date. Formal adoption is normally confirmed by the ATB normally in October each year in its first meeting of the academy year.

Academy trusts are required by their funding agreements to submit financial returns to the Education and Skills Funding Agency (ESFA) in accordance with their schedule and the AAR: 

  • The Autumn Census: The school census is completed termly. The autumn census date was Thursday 1 October 2020 and the completed census was submitted ON TIME to the ESFA in advance of the deadline of Wednesday 28 October 2020.
  • The School Workforce Census (SWC) is a statutory data collection that takes place each autumn term. The most recent census day was 5 November 2020 and the census collects data on all teaching and support staff in regular employment. The submission was submitted ON TIME to the ESFA in advance of the 4 December 2020 deadline. 
  • The Land and Buildings Collection Tool (LBCT) for 2019/20 was submitted ON TIME to the ESFA in advance of the deadline of 28 January 2021. The LBCT collects information about all of the land and buildings used by academy trust. It includes an estimate of the land and buildings valuation and is an annual snapshot of the trust’s land and assets at 31 August 2020. 
  • Academy Trusts are independent charitable companies and are required to prepare the Annual Report and Financial Statements (ARFS) for the financial year up to the 31st August each year. 
  • After the financial year end, the financial statements (FS) are externally audited, normally in late October or early November
  • The Annual Report (AR) is presented at the Annual General Meeting (AGM) each December. The AR was agreed at the AGM held on 10 December 2020.
  • Normally, the audit findings report (AFR) and financial statements (FS) for the previous year are agreed at the AGM following presentation by auditors. In 2020/21, the Audit Findings Report (AFR) and Financial Statements (FS) were agreed by the ATB in January 2021.   


  • The ARFS was submitted ON TIME to the ESFA by the 31 January 2021 along with the full audit findings report and the Academy Trust Board's Annual Report.  
  • The Spring Census: The school census is completed termly. The spring census date was Thursday 1 January 2021 and the completed census is on schedule to be submitted ON TIME  to the ESFA in advance of the deadline of Wednesday 17 February 2021.
  • The academy trust board must complete the School Resource Management Self-Assessment Tool (SRMSAT) at least annually. It comprises a dashboard quesionnaire and a checklist. The completed SRMSAT checklist only must be submitted to the ESFA by 15 April 2021.

  • The academy is normally expected to submit its annual Budget Forecast Return or Budget Forecast Return Outturn (BRF / BFRO) between April and May each year. In 2019, the BFRO went live on 9 April 2019 and the submission wqas made ON TIME in advance of the 21 May 2019 deadline. There was no discrete BRFO submission in 2020 due to Covid-19 adjustment.
  • The Summer Census: The school census is completed termly. The spring census date is Thursday 20 May 2021 and the completed census is to be submitted ON TIME the ESFA in advance of the deadline of Wednesday 16 June 2021.
  • The Academy Accounts Direction (AAD) is normally published in June each year and sets out the basis and timetable for preparing and submitting accounts for that financial year. 
  • The detailed budget plan  for the next year (and three year forecast)is normally considered and agreed at the July ATB meeting each year. 
  • The academy is also normally expected to submit its annual Three Year Budget Forecase Return (BFR3Y) between June and July each year. Due to Covid-19, in 2021, there will only be a single BFR online form. The ESFA have combined the BFRO and BFR3Y into a single online form. This will go-live on 22 June 2021 with a deadline of 27 July 2021. These are the same timings as would have been for the BFR3Y alone.


  • New Budget Planning: Budget Planning is an on-going task for both in-year, next year and three year budget forecasting. The greatest activity for the next year's budget is between February and July each year. The new budget is normally approved by the ATB in July each year. 
  • ESFA Approval of Related Party Transactions over £20,000: 
  • The Chair of the ATB monitors budget with the agreed budget by comparison with cost centre summaries (from FMS) along with other relevant monitoring data such as the department spending envelope spreadsheet, the premises spending envelope spreadsheet and the trading subsiduary cost centre activity (from FMS). The Chair also monitors the academy's Cash Flow through the cash flow summary spreadsheet which can also be compared with bank records online (AO has online access). The Chair's budget and cash flow monitoring tasks are undertaken approximately fortnightly throughout the year in meetings (now electronic / remote) with the Accounting Officer,
  • Budget and cash flow monitoring is also formally undertaken by the ATB at least 6 times each year in meetings. 

Note: As a result of the Coronavirus-19 pandemic, the academy trust board has agreed protocols for conducting meetings and essential business remotely and electronically using web-based video, telephone, documents exchange, the academy website and/or email as determined appropriate by the Chair of the ATB. Physical meetings may be limited by Government restrictions or safety risk assessment.   

Annex G



Internal Audit

External Audit

End of Year Closure

Preparation iof Accounts and Deliverables

Consolidated Accounts

Staffing Plan

Pay Scales

Companies House Filing


Legal Agreement



Annual Reports & Financial Statements (Company Accounts) 

The most recent AGM was held on Thursday, 10th December 2020, via zoom (due to Covid-19 restrictions).  There were no resolutions this year. The Annual Report was endorsed and auditors presented on progress with the audit report and annual accounts.

The annual report and financial statements were submitted to the Education and Skills Funding Agency (ESFA) oon 31 January 2021, and filed with Companies House.

The annual reports and financial statements for the previous two financial years (September - August) will always be available on this web page. The webpage will be updated once the accounts have been agreed at the AGM and submitted to the ESFA and Companies House (normally in January therefore):

Annual Reports and Financial Statements



The accounts submitted are endorsed by the Chair of the Academy Trust, the academy's Accounting Officer and the academy's independent, external auditors.

Register of Interests Declared by Trustees

Please click the link to view a Summary of the Register of Interests of Members, Trustees and the Accounting Officer of the Academy.

Academies Financial Handbook (AFH) and Cranford's Local Financial Procedures & Guidance (LFPG).

The Academies Financial Handbook (AFH) is updated and published annually by the Education and Skills Funding Agency (ESFA), normally late in the summer term each year. The AFH is designed to help Academy Trusts to understand and comply with public standards of financial accountability. The AFH sets out the financial management, control and reporting requirements which apply to Academy Trusts.

The annually updated AFH takes effect from 1st September each year and is posted on the website on or before that date. The updated version is reviewed and ratified by the Academy Trust along with Cranford's Local Financial Procedures and Guidance (LFPG), normally in September / October.

Together, the AFH and the LFPG ensure that there is an adequate framework of monitoring, controls, procedures and policies:

  • To ensure excellent financial management and sensible investment ,
  • To  deter and prevent fraud, 
  • To demonstrate probity,
  • To encourage good value for money, and
  • To achieve Cranford Community College's local vision, objects, aims, and ambitions.

Cranford Community College’s local financial procedures and guidance (LFPG) determines the practical detail necessary to complement the strategic and broad content set out in the Academies Financial Handbook and to achieve the academy's local vision and objects.


  • Click here for the AFH 2020
  • The current AFH should be read in conjunction with Cranford's current LFPG

The Academy Trust maintains other strategic documentation in the Trustee's Secure Area (moving to MyOnstream during 2019/20)  as the academy's:

  • Company Registration Certificates,
  • Funding Agreement,
  • Articles of Association,
  • Memorandum of Understanding,
  • Scheme of Delegation
  • Risk Register,
  • Critical Incident, Contingency and Recovery Plan
  • Audit reports,
  • Annual Skills Audit Summary (including Financial Competencies Survey) for the ATB,   
  • Annual DBS & Disqualification Declaration Summary
  • Governance Arrangements and Election Procedures
  • Trustee Conduct Protocol, etc.

Trading Subsidiary

Click the following link for Cranford Community Trading Company Limited's Local Financial Procedures

Cranford Community Trading Company Limited (Company number: 08932105; Incorporated 11th March 2014) is the Academy's not for profit, trading subsidiary for related activities, including education and management consultancy.

The Annual Accounts and Financial Statements for the Trading Company to the end of August 2019 can be viewed here

The Annual Accounts and Financial Statements to the end of August 2020 will be posted here in January 2021.

Whistleblowing Policy 2019 2022

General Principles: Whistleblowing encourages and enables employees to raise any serious concerns within the academy rather than overlooking a problem or ‘blowing the whistle’ outside.

A full copy of the current policy is posted in the staff secure area of the academy's website, along with the full range of HR policies and procedures and other important employee information.

The purposes of the academy's Whistleblowing Policy are:

  • To encourage colleagues to raise serious concerns within the academy so that they can be addressed and remedied internally.
  • To provide colleagues with a clear and safe route for reporting genuine, serious concerns.
  • To gather information about concerns and, once evaluated and/or investigated, to determine whether further action needs to be taken.

Where it is decided that further action is necessary, this will be conducted under the appropriate HR policy.

It is the duty of all colleagues to raise any serious concerns about known, or probable wrongdoing through this policy. Colleagues who reasonably raise a genuine concern without malice will not be at risk of losing their job or suffering any form of retribution as a result.

If colleagues make malicious or deliberately disproportionate allegations or use the policy for harassment of other colleagues or for personal gain, action may be considered under the disciplinary policy.

Complaints relating to an individual’s personal circumstances should not be raised under the whistleblowing policy. Where colleagues are aggrieved about issues directly affecting them, they should use the academy's Grievance Procedure to pursue their concerns which can also be found, along with all HR policies, in the staff secure area of the academy's website. 

If an employee has a genuine concern about suspected serious wrongdoing at work, they should report it, and may do so under this Policy.  ‘Wrongdoing’ covers a wide range of matters including: criminal offences, failure to comply with legal obligations, miscarriages of justice, financial maladministration, endangering the health or safety of individuals and damage to the environment. It additionally covers the deliberate concealment of any of the foregoing.

 Conflicts of Interest Policy 2019 2022

The Conflicts of Interest Policy may be found here

Risk Register 2020 21

The risk register is found here

Scheme of Delegation 

The scheme of delegation may be found here

Charging & Remissions Policy 2019 2022

The Charging & Remissions Policy may be found here

Audit Committee Terms of Reference 2019 2020

The Audit Committee terms of reference may be found here

Finance Committee Terms of Reference 2019 2020

The Finance Committee terms of reference may be found here




Back to top