Financial & Annual Report
Annual Reports & Financial Statements (Company Accounts)
Academy Trusts are independent charitable companies and are required to prepare an annual report and financial statements to the 31st August each year. The academy financial year mirrors the academic year (i.e. from 1st September to 31st August).
After the financial year end, these accounts are audited by independent registered auditors. They are also discussed and agreed annually at the academy's Annual General Meeting (AGM) which is open to the public and normally held in December each year. The date, time, location and agenda for the AGM is advertised in advance on this website. For the financial year 2018/19, the AGM was held on Thursday, 5th December 2019 at 4.30 p.m. at Cranford Community College.
The annual report and accounts are submitted to the Education and Skills Funding Agency (ESFA), normally in the following December/January, 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 2019.
- 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.
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 2018 can be viewed here. The Annual Accounts and Financial Statements to the end of August 2019 will be posted here in January 2020.
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
The Conflicts of Interest Policy may be found here.
The risk register is found here.
Scheme of Delegation
The scheme of delegation may be found here
Charging & Remissions Policy
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