Funding & Finance
Funding Agreement
On 1 November 2010 Sandwich Technology School became an Academy Trust. This change of status required us to enter into a Funding Agreement with the Secretary of State for Education. The Funding Agreement sets out the characteristics of the Academy and the arrangements to be followed as a condition of receiving a grant from the Department for Education.
The structure of the Academy Trust is framed by its Memorandum and Articles of Association. The Articles provided within the Funding Agreement were updated in July 2023 and replaced by the following document:
Financial Statements
Sandwich Technology School is a company limited by guarantee registered in England and Wales (registered number 07401373). As such, we are required to produce audited annual accounts and have a statutory obligation to file these with both the Education and Skills Funding Agency and Companies House. Copies of our Annual Report and Financial Statements for each year are provided at the foot of this page.
Publication of Executive Pay
The Academies Financial Handbook requires us to publish separately the number of employees whose benefits exceeded £100k in the financial year ended 31 August 2023. (Benefits for this purpose include salary, other taxable benefits and termination payments, but not the Trust's own pension costs.) For the financial year 2022/2023, we confirm that one employee was in receipt of benefits that exceeded £100k. This is also declared within our published Annual Report and Financial Statements.