Independent Schools

Independent schools with charity status must prepare accounts that comply with the Charities’ Statement of Recommended Practice (SORP), which must be audited by an external auditor.

Schools with company status must prepare annual accounts and may also be required to undergo an audit. Schools that do not require a statutory audit may from time to time choose to undergo a voluntary audit, as a way to strengthen internal financial discipline, provide reassurance to stakeholders of the soundness of their finances or assist with raising finance.

At Haslers, we can provide comprehensive support to independent schools with their financial reporting obligations, including carrying out statutory audits, preparing teachers’ pension returns and audits and providing year end statutory accounting services.

We can also carry out voluntary audits or help independent schools to review and strengthen financial systems and procedures with internal audits.

Whatever audit or accounting services we provide, we will do more than simply tick the boxes that keep your independent school compliant.

We also look at the bigger picture of your school, to help you operate as efficiently and cost-effectively as possible and be prepared to make the most of opportunities and address problems or challenges.

To find out more about Haslers’ East London and Essex-based accountancy and tax services for academies, free schools and independent schools, please contact us.

In an economic climate that remains challenging, setting and controlling budgets and managing your cash flow effectively is even more important than ever.

Budgeting goes far beyond knowing how much money is available, allocating funds and keeping track of expenditure.

Independent schools also need to look at a much bigger picture that takes into account short, medium and long-term goals and objectives as well as ongoing costs and commitments. By working in this way, independent schools can put in place sustainable budgets and financial plans designed to achieve their desired goals.

At Haslers, our education team will work with you to explore in detail your likely income and expenditure and draw up budgets to match resource allocation to your priorities and development plan, working within realistic parameters.

Our services:

• Budget planning and preparation
• Reporting against budgets
• Cash flow forecasting
• Preparation and interpretation of monthly or quarterly management accounts
• Recommendations for suitable or more effective accounting software to support budget planning and monitoring
• Advice on improving existing financial systems and controls and implementing chances
• VAT and taxation advice
• Analysis of fixed costs to identify opportunities for financial efficiencies
• Year end compliance reporting

To find out more about Haslers’ East London and Essex-based accountancy and tax services for academies, free schools and independent schools, please contact us.