Leasing for maintained schools
Information on leasing activities for maintained schools, including the international financial reporting standard (IFRS 16 leases) introduced on 1 April 2024.leases).
Applies to England
Documents
Details
Many governing bodies of maintained schools take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
‘Changes to leasing agreements for maintained schools’ outlines the changes takingeffective place from 1 April 2024 and what they mean for local authorities and governing bodies of maintained schools.
‘The IFRS16 Maintained Schools Finance Lease Class Consent 2024’ document lists the types of assets that have been granted general consent by the Secretary of State for Education under the Education Act 2002.
Updates to this page
Published 28 March 2024
Last updated 20 January 2025
+ show all updates
-
Updated page text and ‘Changes to leasing agreements for maintained schools’ to reflect that IFRS 16 is now in effect.
-
First published.
Details
Many governing bodies of maintained schools take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
‘Changes to leasing agreements for maintained schools’ outlines the changes takingeffective place from 1 April 2024 and what they mean for local authorities and governing bodies of maintained schools.
‘The IFRS16 Maintained Schools Finance Lease Class Consent 2024’ document lists the types of assets that have been granted general consent by the Secretary of State for Education under the Education Act 2002.
Updates to this page
Published 28 March 2024
Last updated 20 January 2025
+ show all updates
-
Updated page text and ‘Changes to leasing agreements for maintained schools’ to reflect that IFRS 16 is now in effect.
-
First published.
Details
Many governing bodies of maintained schools take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
‘Changes to leasing agreements for maintained schools’ outlines the changes takingeffective place from 1 April 2024 and what they mean for local authorities and governing bodies of maintained schools.
‘The IFRS16 Maintained Schools Finance Lease Class Consent 2024’ document lists the types of assets that have been granted general consent by the Secretary of State for Education under the Education Act 2002.
Updates to this page
Published 28 March 2024Last updated 20 January 2025 + show all updates
-
Updated page text and ‘Changes to leasing agreements for maintained schools’ to reflect that IFRS 16 is now in effect.
-
First published.