King's College London Mathematics School
KCL Maths School files its own accounts as a stand-alone academy trust: a leadership transition, a swing from deficit to surplus, and a maths-school funding top-up you won't find in the prospectus.
Who files the accounts
King's College London Mathematics School Trust is the school's own single-academy trust — a company limited by guarantee and exempt charity that files its own audited accounts, independent of King's College London itself.
The accounts, year by year
The most recent filed accounts (2024/25, year ended 31 August 2025) show a net result of +£56k (surplus, excluding actuarial gains/losses on the defined benefit pension scheme).
| 2013/14 (first period) | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | 2022/23 | 2023/24 | 2024/25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | £2.14m | £1.99m | £1.58m | £1.52m | £1.64m | £1.91m | £2.14m | £2.35m | £2.26m | £2.54m | £2.15m | £2.65m |
| of which ESFA / DfE core grant (GAG) | £300k | £1.05m | £1.32m | £1.23m | £1.25m | £1.31m | £1.30m | £1.38m | £1.35m | £1.60m | £1.55m | £1.69m |
| Total expenditure | £196k | £1.22m | £1.61m | £1.73m | £1.75m | £1.82m | £2.00m | £2.19m | £2.50m | £2.59m | £2.52m | £2.59m |
| of which staff costs | — | £520k | £785k | £858k | £955k | £1.01m | £1.15m | £1.31m | £1.65m | — | £2.22m | £2.42m |
| Net result for the year | +£1.94m | +£769k | −£29k | −£211k | −£116k | +£87k | +£143k | +£156k | −£251k | −£52k | −£375k | +£56k |
| Total funds carried forward | £1.94m | £2.71m | £2.68m | £2.47m | £2.36m | £2.44m | £2.59m | £2.68m | £2.57m | £2.55m | £2.16m | £2.19m |
| Average staff (headcount) | — | 10 | 16 | 18 | 19 | 20 | 25 | 24 | 29 | — | — | — |
Figures as stated in each year's filed annual report and financial statements; see sources for the documents.
2013/14 (first period) → 2014/15 → 2015/16 → 2016/17 → 2017/18 → 2018/19 → 2019/20 → 2020/21 → 2021/22 → 2022/23 → 2023/24 → 2024/25
Pay disclosures
Academy trusts and charities must disclose senior pay in salary bands in their audited accounts. The most recent disclosure (2024/25) reads:
Timothy Bateup (Head Teacher) remuneration: £90,000–£100,000 (2024: £80,000–£90,000); pension contribution: £25,000–£30,000 (2024: £25,000–£30,000).
Reproduced exactly as banded in the filed accounts — the documents disclose bands, not exact salaries, and so do we.
Notable items in the accounts
- 2024/25: DfE funding (excluding capital) totalled £1,692,333 — described in the accounts as 'basic rate' per-student funding plus a maths-school top-up — alongside £955,082 of additional income (initial teacher training/sponsored staff, donations, outreach and capital grants).
- 2024/25: Closing cash at bank of £837,483; part of reserves are held with Vanguard Investments UK.
- 2023/24: Leadership transition: founding headteacher Dan Abramson — awarded an OBE for services to education — left after leading the school for its first decade. Timothy Bateup, previously Head of Mathematics at City of London School for Girls, became Head Teacher and Accounting Officer from 1 September 2023 after a two-month handover.
- 2021/22: Selected as Sixth Form College of the Decade by the Sunday Times; 86.7% A*, 99.6% A*–A at A-level, 33% of the cohort placed at Oxbridge.
- 2021/22: A deficit year attributed to investment ahead of a planned physical expansion of the school, prepared via a KCL Estates project board.
- 2020/21: A second COVID-affected year: building works for ventilation/hygiene, year-group 'bubbles', teacher-assessed grades after exams were cancelled again. No recorded in-school transmission between students and staff.
- 2020/21: A discrimination claim brought by a former pupil to the SEN Tribunal was withdrawn before hearing after the school's internal investigation found no evidence of wrongdoing.
- 2019/20: COVID-19: the school moved to remote delivery in March 2020; results were based on centre-assessed grades after public exams were cancelled.
- 2019/20: A jump in unrestricted donation income (£450,000, up from £325,000) drove much of the year's income growth.
- 2018/19: National KS5 data confirmed KCLMS as a top-performing school for both raw attainment and value-added; 27% of the graduating cohort secured Oxbridge places.
- 2018/19: Launched 'Curriculum X', an optional Year 13 enrichment programme, and began joint governor away-days with Exeter Mathematics School as network expansion (Lancaster, Surrey, Durham) was announced.
- 2017/18: 20% of the graduating cohort secured Oxbridge places; value-added placed the school in the top 0.5% nationally.
- 2017/18: Moved to a two-year A-level curriculum and formalised a partnership with Exeter Mathematics School.
- 2016/17: 23% of the graduating cohort placed at Oxbridge, 100% to Russell Group or Sutton Trust 30 universities.
- 2016/17: A deficit year as reserves were deliberately drawn down to grow the teaching staff (11 to 14 FTE).
- 2015/16: The school's first cohort graduated in 2016 — 100% A*/A grades in Mathematics at A-level, value-added in the top 1% of all schools nationally.
- 2015/16: A small deficit as the opening start-up grant tapered from £304,004 to £60,000 while staff numbers grew.
- 2014/15: First full year of operation; the General Annual Grant (£740,380) began this year, alongside a tapering £304,004 start-up grant.
- 2014/15: Strong initial A-level results and a full extra-curricular/outreach programme were established.
- 2013/14 (first period): The Trust's first accounting period ran from incorporation (5 April 2013) to 31 August 2014 — almost 17 months, not a full year, so it isn't directly comparable to the 12-month years above.
- 2013/14 (first period): Of the £2.14m total income, £1,821,615 was a capital grant for opening premises and equipment; the recurring 'funding for educational operations' (this year's GAG-equivalent) was £300,000.
- 2013/14 (first period): Accounts approved by the Board of Governors on 3 December 2014, signed by Chair Professor A Wolf.
Sources
- 1.King's College London Mathematics School Trust — Companies House filing history — find-and-update.company-information.service.gov.uk/company/08475184/filing-history
- 2.Annual report and financial statements, year ended 31 August 2025 — find-and-update.company-information.service.gov.uk/company/08475184/filing-history
- 3.Annual report and financial statements, year ended 31 August 2024 — find-and-update.company-information.service.gov.uk/company/08475184/filing-history
- 4.Annual report and financial statements, year ended 31 August 2023 — find-and-update.company-information.service.gov.uk/company/08475184/filing-history
- 5.Governors' report and audited accounts, first period ended 31 August 2014 — find-and-update.company-information.service.gov.uk/company/08475184/filing-history
What we could not verify: Total expenditure for 2022/23–2024/25 is derived (total income minus the stated net result) rather than read as a single stated headline line, since the filed accounts for those years break expenditure into cost categories rather than one total. 2013/14–2021/22 use the accounts' own stated expenditure totals directly.; 'GAG' is defined consistently across 2013/14–2021/22 as the accounts' own 'DfE/ESFA grants' note subtotal (General Annual Grant plus other DfE/ESFA grants, excluding capital, Teachers' Pay Grant, and COVID-19 funding). In 2020/21 and 2021/22 specifically, the governors' own financial-review prose states a higher 'ESFA excluding capital' headline figure because it additionally folds in the Teachers' Pay Grant and COVID-19 funding — both figures are given in those years' notes.; The chain of 'funds carried forward' reconciles exactly from 2013/14 through 2021/22 (each year's closing balance matches the next year's stated opening balance), but there's an unexplained ~£33,000 gap between 2021/22's closing £2,573,486 and 2022/23's opening position — most plausibly an unstated actuarial pension movement, consistent with similar unexplained movements (a £140,000 gain in 2021/22, a £59,000 loss in 2020/21) that sit outside the plain income-minus-expenditure net result.; 2019/20 staff costs are shown as originally filed (£1,151,506); the following year's accounts later restate this to £1,161,936 via a reclassification within agency staff costs — total expenditure is unchanged in both filings.; Average staff headcount and pupil numbers weren't extracted for 2022/23–2024/25..
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