The Academies Accounts Direction 2024 to 25, and related documents applying to financial statements for the year ended 31 August 2025, were published on March 26 2025.
This release date is in line with that of last year, and that’s not surprising given there are minimal updates.
Structure of documents
As in previous years, the Accounts Direction is split into three documents:
- Academies Accounts Direction (‘AAD’)
- Academies Model Accounts (‘Coketown accounts’)
- Framework and Guide for External Auditors and Reporting Accountants of Academy Trusts (‘Framework’).
Here are the two key changes made to the AAD for 2025.
Finance Leases
The Direction now reflects academy trusts being permitted to take out certain finance leases from the DfE-approved list, and it provides model disclosures for the notes to the financial statements to assist those academy trusts that may have entered into such leases.
Large Trusts
If you’re a trust with turnover of more than £500 million and 500 or more employees, you will want to consider whether you must include a non-financial and sustainability information statement within your strategic report, as required by the Companies Act 2006, Section 414CA and 414CB.
Here are the key changes to the Model Accounts
- This reflects the Academy Trust Handbook 2024 requirement on how trusts, with an annual revenue income of over £50 million, should deliver internal scrutiny.
- Clearer wording in the accounting officer’s statement of regularity, propriety and compliance.
- Updated the wording of the auditor’s report on the financial statements and the reporting accountant’s report on regularity to reflect our review of the Framework and Guide for Academy Trust External Auditors and Reporting Accountants (“Auditor Framework and Guide”).
- Updated valuation of teacher’s pension fund note to reflect the implementation date for the next valuation.
The document has also been updated to reflect the transfer of ESFA functions to DfE.
If you would like further guidance on the Academies Accounts Direction and related documents, please contact one of your usual academy contacts at BHP for a discussion.
