Help for academies
help for academies
We are totally independent and do not work, supply or deal with any suppliers or finance houses.
helping academies avoid the pitfalls of asset leasng agreements
Academies are placed in a very confusing and difficult position when it comes to equipment leasing.
Legally academies are recognised, first and foremost, as Limited Companies and are therefore bound by the rules and regulations laid down in their Limited Company Constitution at Companies House.
The Constitution is normally a standard format provided by the DofE and accepted by the Academy as part of its formation. Unfortunately, the Constitution is not specific enough and conflicts with what is stated in the Academies Handbook.
The Academy is ‘bound’ contractually to adhere to the borrowing restrictions in the Academies Handbook. However, under the Company Constitution the Academy is able to borrow more freely. This contradiction can cause significant problems for Academies. They can find themselves breaching the terms of the Academies Handbook even when apparently following guidance from the DofE or EFSA. It also makes challenging any poor value lease very difficult.
It is critical therefore, that if you are an Academy you clearly know the terms and conditions of any lease you enter into and whether you should obtain permissions to adopt the lease.
We can assist in preparing a report on any proposed lease agreement, not only ensuring that your Academy adheres to the Academies Handbook, but also that you receive good value under the agreement.
No matter how much you save, the rewards can have a significant positive impact. Contact us for free independent advice or to request a bespoke pre lease report
Let us help you save time and money.
With ever increasing pressure on school budgets, it is critical that Schools take advantage of the potential to save money and reduce spending wherever possible. This is especially so with large Multi Academy trusts.
We not only understand the nature of these agreements, but also the need for minimal disruption to the school. We know that the day to day running of the establishment is of critical importance.
We can assist your school to ensure that your agreements are both reasonable and adhere to the legal requirements, and if appropriate work with you to create significant savings to your budget.
Let us help save you time and money, whilst ensuring you adhere to the significant amount of criteria placed on you as a Business Manager.
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