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Statutory accounts and related forms

For a large number of convertor academies the period ended 31 August 2012 will be the first time that statutory accounts will need to be filed with the EFA and Companies House.

The deadline for filing at Companies House is 9 months after the year end (31 May 2013) or 21 months from date of incorporation which ever is earlier.

The deadline for filing at the EFA is 31 December 2012.

When completing the accounts and audit the Academy Accounts Direction 2011/2012 published August 2012 (AAD) must be followed.

The AAD introduced the concept of regularity, propriety and compliance on which the Accounting Officer of the Academy has to make a statement which goes into the statutory accounts and the Auditor has to ensure that the Academy is dealing with this concept correctly and has to do work to ensure this is the case and to be able to produce an audit opinion on it. The work involved and the audit opinion itself have not as yet been agreed between the EFA and the ICAEW.

On 3 October 2012 the EFA wrote to all Heads of Academies stating that an Accounts Return 2011/12 would also have to be completed by Academies and audited by the Auditors and this would have to be filed with the EFA by 31 December 2012. This form replaces the Abbreviated Accounts Return but is different to it. Completion of this form means that there will be no requirement for Academies to complete a WGA return or a counter party balance return or a LGPS return for 2012/2013.

Academies Financial Handbook

The Academies Financial Handbook was revised and published on 21 September 2012. It is effective from 1 September 2012. The documents can all be found at



Date: 12th October, 2012
Author: Wendy Bambrick


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