St Mary Magdalene Academy: school finances
Large reserves
Holds £3.4m in reserve, 23% of a year's income.
Latest full year 2024-25, as a academy (accounts return, September–August). Islington · All-through · Academy sponsor led.
Academies in a trust don't hold money on their own: HIVE EDUCATION TRUST can move money between its schools. The reserve includes this school's per-pupil share of the trust's central reserve.
Reserve at the end of each year, 2018-19 to 2024-25
Income and spending, 2018-19 to 2024-25
Income Spending
Show the figures as a table
| Year | Income | Spending | Balance | Reserve | Pupils |
|---|---|---|---|---|---|
2018-19 | £9.9m | £9.9m | -£55k | £635k | 1,312 |
2019-20 | £9.7m | £9.8m | -£103k | £532k | 1,368 |
2020-21 | £10.5m | £10.3m | +£162k | £663k | 1,399 |
2021-22 | £11.0m | £10.5m | +£468k | £1.1m | 1,459 |
2022-23 | £12.2m | £11.5m | +£690k | £1.8m | 1,536 |
2023-24 | £13.4m | £13.0m | +£356k | £2.1m | 1,554 |
2024-25 | £15.1m | £13.8m | +£1.3m | £3.4m | 1,557 |
Compared with similar schools
Similar schools are the 30 all-through schools in London closest in size and in the share of pupils on free school meals. Its reserve, as a share of income, is higher than 93% of them. It spends £8,846 a pupil in total; similar schools typically spend £8,756.
This school Middle half of similar schools Similar schools’ median
Show the comparison as a table
| Spending per pupil | This school | Similar schools (median) | Middle half |
|---|---|---|---|
Teachers | £4,785 | £4,884 | £4,370–£5,396 |
Support staff (e.g. TAs) | £1,117 | £949 | £373–£1,288 |
Supply staff | £74 | £244 | £129–£464 |
Admin and clerical | £857 | £548 | £420–£662 |
Premises | £418 | £488 | £405–£573 |
Energy | £153 | £147 | £127–£201 |
Learning resources & ICT | £462 | £413 | £342–£503 |
Bought-in services | £275 | £145 | £70–£203 |
Compare side by side with the 3 most similar schools
Which schools are these?
- Ark Academy Healthy
- Harris Academy Tottenham Healthy
- Harris Garrard Academy Healthy
- Ark Isaac Newton Academy Large reserves
- Dunraven School Large reserves
- Eastbrook School In deficit
- London Academy Large reserves
- Alec Reed Academy Large reserves
- Saint Mary Magdalene Church of England All Through School Heading for deficit
- Whitefriars School Large reserves
- Ark John Keats Academy Large reserves
- Harris Academy Chobham Large reserves
Where the money comes from, 2024-25
| Source | Amount | Per pupil |
|---|---|---|
Government grants | £14.2m | £9,125 |
SEN funding (part of grants) | £388k | £249 |
Self-generated (lettings, catering, donations) | £585k | £376 |
Questions to ask the school
Useful for parents, governors and PTA committees.
- What are the reserves set aside for, and when will they be spent on current pupils?
- Spending on bought-in services is £275 a pupil, against a typical £145 for similar schools. What's behind that?
- Spending on admin and clerical is £857 a pupil, against a typical £548 for similar schools. What's behind that?
Check these figures
Every figure here comes from the school's published return to the DfE. Check it on the DfE benchmarking page for this school, and see how the status is worked out.
Admissions, Ofsted and results for St Mary Magdalene Academy · All Islington school finances