The latest Kreston Academies Benchmark found that the UK’s academy sector is in ‘very robust financial health’ despite the challenges of dealing with the Covid-19 pandemic.

The reported surplus equates to a 94% increase in surplus per academy from 2020 to 2021 and represents the academy school sector’s highest-ever surplus.

The findings, from the annual poll of more than 300 trusts which represent nearly 1,500 schools, found that only 3.8% saw cumulative deficits which was down from 5.3% in 2020 and 8.2% in 2019.