Land and buildings collection tool summary guidance for academies
Updated 9 November 2023
Applies to England
What is the land and buildings collection tool?
The land and buildings collection tool (LBCT) collects information about all of the land and buildings used by academy trusts and their academies. It’s a snapshot of your trust’s land and building assets at 31 August 2023.
The LBCT will also ask for information about non-land and building assets that academy trusts and their academies have leased at 31 August 2023.
This year’s LBCT deadline, 7 November 2023, has passed. Thank you to all of the trust’s who submitted on time. If you’ve still got to complete and submit your return, log into your return, use this link below:
You must complete the return if you had at least one open academy on 31 August 2023. Academies that transferred to your trust on or after 1 September 2023 will not be included in the return. Their previous trust will do this.
If you have church-owned land, your nominated diocesan user will need to review your return by the deadline as well. Please make contact with your local diocese to discuss your return with them and allow a reasonable amount of time for diocesan review.
Roles and responsibilities
There are two stages involved in submitting your return:
- the preparer collects all the data required and enters it into the form; they cannot submit it to DfE
- the approver checks the form for accuracy and completeness before submitting it to DfE
The approver can do everything, but from feedback from trusts, we’ve found that it’s best to split the roles.
Role | Action | Add Diocese Checker | Prepare the data | Approve the data | Submit the data |
---|---|---|---|---|---|
Preparer | Can complete the form | Yes | Yes | No | No |
Approver | Can complete, amend and submit the form | Yes | Yes | Yes | Yes |
The approver must be the trust’s accounting officer or someone they’ve authorised to undertake the role.
Why we do collect this information
Land and buildings information for the academy trust is collected for several reasons:
- trusts will able to make effective decisions regarding resource allocation, asset valuation, and asset utilization
- it ensures that academy trusts use public resources appropriately and are accountable for their assets management
- improving trusts’ decision-making process in the land and buildings areas
- trust can identify trends, gaps, or areas of improvement in their educational facilities
- they can also allocate resources effectively and adapting theirs to a specific needs and challenges
Having access to comprehensive data on land and buildings ownership, condition, and use from academy trusts promotes transparency, accountability, and public trust.
Find out more here about how we use sector financial data and a comprehensive overview of the different financial returns.
What’s new for this collection
This year we haven’t made any material changes to the LBCT. We have removed the Free School Asset Management Plan section. If you have previously entered information in this section, you will no longer be asked to provide this.
What you need to do
If your trust completed the LBCT last year
Before you start, log into your IDAMS account to check that all roles are assigned to the correct people, and they have the appropriate permissions. If you have any queries about this please use the ESFA academy questions service to get assistance.
Your return will be populated with the data submitted last year. You will need to check this data and update it to reflect your occupancies and assets held at 31 August 2023.
We advise downloading the previous year’s return report before starting the actual submission.
If you acquired any academies between 1 September 2022 and 31 August 2023, these will be flagged as ‘New’ on your dashboard. Their data will already be included if they completed the return last year. If not, you will need to complete a return for them.
If you are a new academy trust
If your trust opened its first academy after 31 August 2022, you must complete the return for all academies which were active on 31 August 2023.
Before you start, you will need to register an account on the Identity and Access Management System (IDAMS). This is where you manage your account and allocate user roles to complete the LBCT. We’ll host an IDAMs webinar to help the new users to register into their accounts. The dates will be published later in the year.
If your academy name contains the word ‘Church’, ‘Anglican, RC, it is possible that you have church owned land. Speak to your local diocese to confirm if this is the case or not.
When you add an occupancy, you need to provide supporting documents and link them to the occupancy as you work through the form.
Five quick steps to complete your return:
- enter contact details
- complete the leased asset section and centrally held asset section
- review and update occupancy and asset information for each academy within your trust
- if any of your occupancies are on church-owned land, send for diocesan review
- submit data to DfE
Top tips for your LBCT 2023:
- using the LBCT workbook, familiarise yourself with the form’s sections and questions
- you must complete the section for your trust as well as all your academies
- have your lease documents ready to help complete the leases asset section
- in the first part of the leased asset section, we only need to know how many lease contracts are held by category.
- note that you will only need to upload lease agreement document for ‘Motor vehicle’ and ‘Other’ categories.
- each occupancy must be linked to at least two documents
- you must add land as an asset unless you have an exception, for example, a Royal Charter
- don’t forget to add your playing fields, even if they’re at a different location to your main site or where they’re provided by another organisation such as a local authority
- once every academy has a status of ‘ready to submit to DfE’ press the green ‘Submit to DfE’ button on the dashboard for final submission to DfE
If any of your occupancies are on church-owned land, send for diocesan review
You must:
- add or confirm diocese contact details
- ensure that the church-owned occupancies are reviewed by the diocese
If your academy name contains the word ‘Church’, ‘Anglican, RC, it is possible that you have church owned land. Speak to your local diocese to confirm if this is the case or not.
Email notifications
If you are a single academy trust (SAT), the preparer or approver will get an email every time the form moves from one status to another – for example, when it’s sent to an approver or to a diocese checker.
If you are a multi-academy trust (MAT) or diocesan user, you will receive one summary email report every day, but only if there has been a status change in any of your academies in the previous day. You will also get an email at the point at which your return is submitted to DfE.
Diocese checkers will get one summary email for each academy trust that they have the diocesan user role for.
To ensure that you receive email notifications, we recommend that you check your inbox setting as some firewalls block auto-generated emails.
Dashboard
The dashboard is your home page. It gives the status of all the returns you need to complete - for the trust and for each individual academy. You access your dashboard via the login page.
If you are a SAT, you must complete the trust section of the return (shown via the Companies House Number) as well as the academy section
As you progress through the return, it will pass through a number of status. You may not see all of these – some will only appear if the form has been ‘rejected’ to the preparer for more work, while others only appear if your trust needs to report on church-owned land.
Status | What it means |
---|---|
Started | A user (preparer or approver) is completing the form |
Sent to approver | A preparer has sent the form to an approver for review |
Recalled by preparer | A preparer has recalled the form from the approver, before the approver has started their review |
Rejected by approver | An approver has rejected the form and sent it back to a preparer to amend |
Resent to approver | A preparer has re-sent the form to an approver for review |
Sent to diocese | An approver has sent the form for diocesan review |
Recalled by approver | An approver has recalled the form from the diocesan user, before the diocesan user has started their review |
In progress with diocese | A diocesan user has started to review the form |
Rejected by diocese | A diocesan user has rejected the form and sent it back to the preparer and approver to amend |
Resent to diocese | An approver has re-sent the form to a diocesan user for review |
Ready to submit to DfE | An approver or a diocesan user has approved the form but hasn’t submitted it yet |
Submitted to DfE | No further action is required |
Contact Information Section
This section should be completed with at least one contact. This will help us if we need to get in touch with the trust.
Confirm Academy trust leases and centrally held assets section
Leased assets section
You need to tell us about any leased tangible assets you have at 31 August 2023 that are not land and buildings at both academy and trust level.
You’ll find more information about what information is needed, asset categories, uploading document agreements, other scenarios and case studies on our Leased guidance.
Centrally held assets
This is where you tell us about your centrally held assets. These are any land or buildings which do not form part of an academy and which are used solely by the trust. You may own, lease or rent them, or they may have been donated to the trust. You must complete this section even if you don’t have any centrally held assets.
You can see an example case study on centrally held assets in the case studies section.
Academy listing section
This section includes all the academies within your trust.
Any academies which transferred into the trust on or after 1 September 2023 will be flagged as ‘New’.
Click on each academy link to review the academy information. You can amend existing information and add new occupancies, documents and assets.
Downloading trust report
You can download your trust report as an Excel/pdf file. This file will always reflect the latest version of your return. This means that you can use it to:
- review the data from your 2022 return – providing you haven’t started to make any changes to the 2023 form
- review any data that has been saved in the online form at any stage leading up to completion
- keep a record of your 2023 return
We recommend that you download a copy of your return when you first log in to the form. If you are a MAT, this will include data on any academies which have transferred in.
Your occupancies
Occupancy means the way each academy occupies the sites it uses. If you have a main academy site and a separate playing field, this counts as 2 occupancies. For each of your occupancies, we need details of:
- what it’s used for
- the occupancy type, for example freehold, leasehold or church-owned land
Each piece of land will have its own Land Registry document, which will set out the occupancy type.
Your school site plan and your Land Registry documents will help you identify how many pieces of land you occupy and how you occupy them.
Finance lease and Operating lease
Below is a brief definition of finance lease and operating lease and further explanation to help you decide what type of lease your agreement is. A finance lease is a lease that lets an entity borrow an asset for a long time. The length of the lease is essentially equal to the life of the asset taken on lease and the company capitalizes the leased asset in its accounts. The risks and rewards lie with the lessee.
An operating lease is a lease in which rental payments (usually monthly) are made by the trust to enable use of an asset without acquiring ownership of that asset. It is a type of lease in which the contract period is shorter than the useful economic life of the asset. Costs associated with operating leases are classified as expenses, not assets as are the case with finance leases. The risks and rewards lie with the lessor.
The majority of leaseholds held in the academy sector are 125 year leaseholds with the local authority. In these instances, select ‘finance lease’ and set the discount rate at zero.
Finance lease | Operating lease | |
---|---|---|
Who owns the asset? | Lessor | Transfer option at the end of the lease period to lessee |
Who is responsible for the maintenance? | Lessee | Leasing company if maintenance contract is taken otherwise it is the lessee |
Length of lease? | Asset lifetime (Long term) | Part of useful lifespan |
Included on the Balance sheet? | Yes | No |
How to create a site map
A site map needs to:
- show your entire site
- show each occupancy, with boundaries clearly marked
- show (and provide a name and reference number for) each asset
You can work from your academy’s site plan, or from an image generated by Google Maps.
If you use Google Maps, you need to use ‘Satellite view’, as this will show features such as buildings and sports fields more clearly.
There are two styles of site maps shown here as an example:
According to this map, Coketown has the following occupancies and assets:
Occupancy | Route | Asset |
---|---|---|
Occupancy 1 - Woodlands | Church owned land | A11 - land |
Occupancy 2 - Main site | Freehold | A21 - Land and playing fields, A22 - Main school block, A23 - Sixth form block, A24 - Basketball/netball courts, A25 - Arts and drama block, A26 - Y7 - 9 MUGA |
Occupancy 3 - Sixth Form Area | Leasehold | A 31 - Land |
Occupancy types
For each piece of land, you need to select an occupancy type from the options below.
Freehold: you own the land and are the landlord – the title deeds will state this.
Leasehold: (including Private Finance Initiatives) you have a lease with your landlord and pay them rent for the term of the lease, for example 125 years at £500 per month.
Church-owned land: you occupy land owned by church trustees and you have a church supplemental agreement in place. It will usually have clauses about how you may use the land. If there’s no supplemental agreement, select ‘church lease’. You rent the land from church trustees and your lease has a church supplemental agreement in place. It will usually have clauses about how you may use the land. If there’s no supplemental agreement, select ‘church lease’.
Church lease: a lease with the local diocese for use of church-owned land, which will also include a restrictive clause about the use of site.
Licence: a legal agreement with the owner to use their land.
Customary occupation: an informal standing arrangement which allows you to occupy the site.
Tenancy at will: a short-term agreement that allows you to use the land before a formal contract has been drawn up.
Development agreement: a contract between a property owner or developer, a local authority and potentially the Secretary of State. This is sometimes also referred to as a ‘Design and Build Contract Development Agreement’.
Other: this covers any type of occupancy not covered above, for example Royal Warrants.
If you’re unsure about what occupancy type to select, please contact us using our enquiry form. Please select ‘Academies financial returns’ and quote “LBCT” and your Trust UPIN.
For each occupancy, you will need to confirm:
- when you first occupied the land
- the occupancy type
- whether you have disposed of an individual piece of land in the year
- any change to how you occupy the site
To add a new occupancy:
- use the ‘add another occupancy type’
- upload your supporting documents
- for some existing occupancies, we have added a small number of additional questions this year
Make sure you have the Land Registry title number to hand, as you’ll need to add this to each occupancy. You’ll find this at the top of the Title Deeds form, and it consists of 8 or 9 letters and numbers, for example, AA123456.
Uploading documents
You will upload and manage any existing documents while you’re working through the occupancy part of the form. The form will show you documents previously uploaded, you will need to review these to ensure that they are still relevant. Any documents that are no longer applicable can be removed. These will be archived within the DfE document store and you won’t see them in your LBCT return next year.
For each occupancy, you will need to link the supporting documents listed in the table below, make sure that they’re the latest versions.
A document can be linked to more than one occupancy; this will often be the case with a site map. An occupancy will always have at least 2 documents linked to it.
The following table shows the required documents that should be linked to each occupancy type. You can use PDF, JPEG, GIF and PNG formats. Please note the documents will need to be smaller than 23mb.
Occupancy | Required documents |
---|---|
Freehold | Site map and Land registry register of title |
Leasehold | Site map and Land registry register of title and signed lease agreement |
Church-owned land | Site map and Land registry register of title and Church Supplemental Agreement |
Church lease | Site map and Land registry register of title and signed lease agreement |
Customary occupation | Site map Land registry register of title and documentation to indicate that customary occupation is consensual |
Licence | Site map and Land registry register of title and signed licence agreement |
Tenancy at will | Site map and Land registry register of title and signed tenancy at will |
Development agreement | Site map and Land registry register of title and Design and build contract |
If you have several occupancies on a single site map, you need to upload the site map to every occupancy.
Church-owned land
If your trust has any church-owned land, this information (and any linked documents) will need to be reviewed by a diocesan user.
You’ll need to ensure that:
- you enter the correct details for diocesan users to give them access to the LBCT return
- they can login and see your trust
- you agree timescales and deadlines
- you’re in agreement about whether you or they will submit the return to DfE
The diocesan user will only be able to access and view data and supporting documents about church-owned land.
If the diocesan user is not content with the church owned-land entered in the form, they will reject it back to the academy trust with comments outlining what changes are needed. The preparer can edit the form without the approver rejecting it, the approver must approve the changes before resubmitting it to the diocesan user.
Your diocesan user can submit your return on your behalf, but only if all academies within the trust and the trust itself have the status ‘Ready to submit to DfE’ – not just those with church-owned land.
The approver or diocesan user must submit the return by deadline.
If the diocesan user can’t log into the return, confirm that the email address you have for them is correct – check for spaces, special characters, extra letters or numbers. If this is the case, they’ll need to be set up as a new user. They must contact their church body to do this - this will be the:
- Catholic Education Service (CES)
- Church of England Education Office (CofEEO)
Assets
After you have added all occupancy types for your academy and linked all documents, you will be asked to add the assets that sit on each occupancy. These include:
- playing fields
- land for the site or sites
- land for buildings if no other land is recorded on that occupancy
- swimming pools, tennis courts etc
- buildings, such as classrooms, offices or a caretaker’s house
What’s the difference between asset and occupancy?
Assets are the physical properties (land, buildings (offices or classrooms), caretaker’s house, etc.) that have long-term financial value for the owners. Meanwhile, occupancies (leaseholds, church leases, freeholds, licences, etc) refer to how trusts use those assets for a specific purpose. In occupancy agreements, the trust has the right to use an asset for a defined period of time but does not own it.
How to record assets:
- if the asset has had any capital improvements or is under construction please let us know
- if the asset has been sublet please provide details
- if the asset has been disposed of please state when and how this was done
- state when any buildings were constructed
- if a single building has multiple uses such as offices and classrooms then select ‘mixed use’
If you’re unsure about how to record buildings, please use the table below as a guide.
Scenario | Action |
---|---|
If you can walk around the exterior of the building, ignoring perimeter fencing | Enter as a single building |
If the building was constructed over 2 or more periods and has no internal passageway between them | Enter as many buildings as per phases of development |
If the building has an internal passageway between several buildings which were constructed at significantly different times, for example the 1950s and 1990s | Enter each development period as a separate building |
If the building has an internal passageway between several buildings which were built at similar times, for example 2015 and 2020 | Enter as a single building |
You must add each asset in turn, for each academy in your trust, as well as for the trust itself. Please name each asset on the sites you occupy using a brief description that is meaningful to you. You must account for all buildings on the site, even if they are not used for educational purposes. Include temporary assets such as portable temporary structures.
If you have not included any land as an asset on an occupancy, you will need to explain why.
You can see example case studies on temporary assets and how to enter a sublet in the ‘case studies’ section.
Approvers: how to submit your LBCT return
Before the LBCT return can be submitted to the DfE, it must be approved – but only when every status on your dashboard is marked ‘Ready to submit to DfE’. This can be done by the academy trust approver or the diocesan user where there is church-owned land.
If you are the approver and all academies and the trust itself have the status ‘Sent to approver’, there are 2 ways you can approve the return:
- link by link – review each academy and your trust, and accept or reject each one individually
- using the ‘Approve all’ button – use this only if you are satisfied that the preparer has input their data correctly
You can then submit the return by pressing the ‘Submit to DfE’ button. You and the preparer will each get an email confirming that we’ve received the return, and that you don’t need to do anything else.
Diocesan users have specific guidance on how they should approve returns with church-owned land.
Rejecting the return
If you don’t think the information entered is correct or complete, you can amend this data or alternatively, click the ‘reject’ button, and add your reasons for rejection. The preparer will get an email but we recommend that you contact them to let them know. They will then have to go back into the form and:
- review the reasons you’ve given
- make any changes they agree with
- re-send the form for you to approve or send back for further changes
Downloading reports
You can download last year’s report before you start working on this year’s return. In addition, you can also download a copy of this year’s trust’s data from the dashboard or from each academy’s review page.
Case Studies- land and buildings
Quick link | |
---|---|
Sublets | Caretaker’s House |
Capital improvement | Private finance initiative (PFI) |
Temporary assets | Development agreements |
Centrally-held assets
These are any land and buildings owned or occupied by the trust which are not part of an academy, for example a separate headquarters site for a MAT or an investment property.
Example scenario
Coketown MAT is made up of nine academies located across the UK. The trust has a designated team of staff who look after centralised services such as finance, estates and HR. These staff are based in a rented office space in Coventry. The trust leases this space and pays for it from a central pot of funds. This office is not linked to any of the academies within the trust. The trust also owns a freehold piece of land in Yorkshire where they have built a sports centre which is used by the local community.
How to record on the LBCT
On the trust link for Coketown Multi-academy trust, enter two occupancy types.
Occupancy 1:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Office block in Coventry |
Type | Leasehold |
Used for education purposes | No |
Documents to link | Leasehold agreement and site map |
Asset 1 description | Central office |
Asset 1 type | Building |
Asset 1 ‘No land’ comment | The lease is for the office only, not the land |
Occupancy 2:
Occupancy 2 | Enter into LBCT form |
---|---|
Description | Sports centre in Yorkshire |
Type | Freehold |
Documents to link | Land registry title and site map |
Asset 1 description | Coketown sports centre |
Asset 1 type | Land |
Asset 2 description | Coketown sports centre |
Asset 2 type | Building |
Used for education purposes | No |
Sublets
Subletting means letting out property (or part of it) to another tenant through a separate lease agreement known as a ‘sub-lease’.
Example scenario
Coketown Primary Academy has a 125-year long leasehold agreement with Coventry City Council. The school has a main school block and a separate building which they have sublet to a dance school for 1 year.
How to record on the LBCT
A sublet asset should only be entered on the LBCT where a formal agreement has been drawn up.
On the academy link for Coketown Primary, enter one occupancy type:
Occupancy 1:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Main school site |
Type | Leasehold |
Documents to link | Leasehold agreement and site map |
Asset 1 name | Main school site |
Asset 1 type | Land |
Asset 2 name | Main school block |
Asset 2 type | Building |
Asset 3 name | Self-contained building |
Asset 3 type | Building |
Additional building asset questions
Asset 3 sublet? | Yes |
---|---|
Asset 3 sublet to? | Community dance school |
Asset 3 sublet length? | 1 year |
Caretaker’s House
This is any building which is solely occupied by the academy caretaker, either rent-free or at a nominal rent. This is usually below market rent.
Example scenario
Coketown Secondary Academy has a 125-year long leasehold agreement with Coventry City Council for the school’s site. There is a main school block building and a residential building which is occupied by the school caretaker as part of their terms of employment.
How to record on the LBCT
A caretaker’s house should always be entered as an asset. Where it is occupied by the school caretaker as part of their terms of employment and the rent is free or below market value, the asset should not be marked as a ‘sublet’ – you should only record it as a sublet if the caretaker’s rent is at or close to the market rate.
On the academy link for Coketown Secondary, enter one occupancy type:
Occupancy 1:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Main school site |
Type | Leasehold |
Documents to link | Leasehold agreement and site map |
Asset 1 type | Land |
Asset 1 name | Main school site |
Asset 2 name | Main school block |
Asset 2 type | Building |
Asset 3 name | Caretaker’s house |
Asset 3 type | Building |
Sublet | no |
Capital improvement
This refers to any works that increase an asset’s value, prolong its useful life or adapt it to new uses. This excludes repairs or maintenance such as paint touch-ups, minor fixes or elevator maintenance. For the LBCT we only need to know about capital work that increases the number of pupils that can attend your academy. We do not need to know about any major refurbishment that prolong the useful life of your buildings.
Example scenario
Coketown Secondary Academy has a 125-year long leasehold agreement with Coventry City Council. On this site, they have an admin office block and the main school block. The main school block is currently undergoing a major structural change.
How to record on the LBCT
All building assets should be entered on the LBCT. For the ‘Main School Block’ asset, answer ‘Yes’ for capital improvements in-year.
On the academy link for Coketown Secondary, enter one occupancy type:
Occupancy 1.
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Main school site |
Type | Leasehold |
Documents to link | Leasehold agreement and site map |
Add asset to Leasehold | |
Asset 1 name | Main school site |
Asset 1 type | Land |
Asset 2 name | Admin office |
Asset 2 type | Building |
Asset 3 name | Main school block |
Asset 3 type | Building |
Capital improvements in-year? | Yes |
Private finance initiative (PFI)
In a PFI contract, a private consortium will undertake to finance, design, deliver and maintain a project such as a school. The Local Authority (LA) will then make regular payments to the consortium. The trust is not a signatory to the PFI arrangement: its relationship is solely with the LA. Any payments it makes to the LA are lease payments on the academy site.
If a PFI arrangement exists, the LBCT form is not interested in the PFI contract for the design and build of the school, but only in the arrangement for the occupancy of the academy site.
Example scenario
Coketown Junior Academy joined the Coketown MAT in September last year. Prior to that, it was a LA maintained school: the LA entered into a contract with a private construction company to finance and build a new school block on the existing academy site. When the academy joined Coketown MAT, it had already entered into a 125-year lease agreement with the LA for the occupancy of the academy site. The lease agreement started in September 2018 and agreed monthly lease payments were £2,000.
How to record on the LBCT
The LBCT looks at the occupancy of the school site, not the PFI agreement. In many cases where a school was built with a PFI, the land is leased to the school on a 125-year sublease from the LA. The academy trust is not part of the PFI arrangement so payments are to the LA.
The lease length is whatever is recorded in the lease agreement with the LA – not the length of the PFI agreement.
On the academy link for Coketown Junior, enter one occupancy type:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Main school site and playing field |
Type | Leasehold |
Landlord name | Coventry City Council |
Leasehold monthly payment | £2,000 |
Date lease started | September 2018 |
Leasehold length | 125 years |
Asset 1 name | Main school site and playing fields |
---|---|
Asset 1 type | Land |
Asset 2 name | Main school block |
Asset 2 type | Building |
Temporary assets
These are assets that are identified within an occupancy type which are not permanent in nature, such as lower quality portable temporary structures.
Example scenario
Coketown Secondary School owns two pieces of land a few miles down the road from the main school site. One of these is used as a playing field and the other has been unused since it was acquired. The only thing on it is an electricity substation that belongs to the National Grid.
On the main school site, they have one school block which has classrooms and the school hall. There is a swimming pool and two portable temporary structures that were hired by the school and used temporarily as changing rooms when the changing area in the swimming pool was being refurbished. The portable temporary structures were last used as changing rooms last December. The school has 4 more portable temporary structures that are used as classrooms, with no plans to replace them.
How to record on the LBCT
On the academy link for Coketown secondary, enter three occupancy types:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Playing fields |
Type | Freehold |
Asset 1 name | Playing fields |
Asset 1 type | Land |
Occupancy 2 | Enter into LBCT form |
---|---|
Description | Unused piece of land |
Type | Freehold |
Asset 1 name | Unused land |
Asset 1 type | Land |
Is the asset unused? | Yes |
Unused from date | September 2001 |
There is no need to enter substation as an asset.
Occupancy 3 | Enter into LBCT form |
---|---|
Description | Main school site |
Type | Freehold |
Asset 1 name | Main school site land |
Asset 1 type | Land |
Asset 2 name | School Block - classrooms & school hall |
Asset 2 type | Building |
Asset 2 primary use | Mixed use |
No. of classrooms | 30 |
Asset 3 name | Portable temporary structures |
Asset 3 type | Building |
Asset 3 temporary or permanent? | Temporary |
Is the asset unused? | Yes |
Unused from date | December 2018 |
Has the occupancy ceased in year? | Yes |
Date occupancy ceased | December 2018 |
Reason occupancy ended | Other |
Comment | Used as temporary changing rooms during pool refurbishment; to be returned to hirer |
Asset 4 name | Portable temporary structures- classrooms |
Asset 4 type | Building |
Asset 4 temporary or permanent? | Temporary |
Is the asset unused? | No |
Has the occupancy ceased in year? | No |
Development agreements
Example scenario
Coventry City Council commissions a firm to design and build a new school on 1 December 2021. The council sets up a development agreement with Coketown Academy Trust, which will open an academy on the new site on 1 September 2022. They will be granted a 125 year lease by the council, which starts once the design and build project is complete - usually close to the date that the academy opens. Until the lease is signed and the academy can start using the site, the relationship between the council and the trust is contained in the development agreement.
How to record on the LBCT
The lease will start only once the project is completed, so until this happens and the lease is signed, the occupancy should be recorded as a development agreement.
Occupancy 1:
Occupancy 1 | Enter into LBCT form |
---|---|
Description | Main school site |
Type | Development agreement |
Documents to link | Development agreement |
Asset 1 type | Land |
Asset 1 name | Main school site |
Asset 2 type | Building |
Asset 2 name | Main school block |
Glossary
- Asset: property or land – for example playing fields, buildings and the land they stand on
- Capital improvements: refers to major works/improvements, refurbishments or additions to an existing asset – not just repairs that increase the number of pupils that can attend your academy
- Centrally-held assets: any land and buildings which are not part of an academy school, for example a separate administrative site
- Finance lease: a lease that lets an entity borrow an asset for a long time. The length of the lease is essentially equal to the life of the asset taken on lease and the company capitalises the leased asset in its accounts
- IDAMS: Information Management Services. This is a portal for setting up and updating user roles such as ‘preparer’ or ‘approver’
- Lease: under IFRS 16, a lease is defined as a contract that gives to a lessee the right to use an identified asset for a period of time in return for consideration.
- Lessee: whoever holds the lease for a property
- Lessor: the person who leases or lets a property
- Mixed use: where a building is used for multiple purposes, for example as classrooms and also as a sports hall
- Occupancy type: the way the academy occupies the land it uses
- Operating lease: an arrangement where the risk and rewards of owning the assets lies with the lessor company. The lessee only pays a rental sum for the use of the asset and returns it at the end of its lease term
- Peppercorn rent: a token rent below £100 a year, fixed for the whole term of the lease
- Sitemap: this will include land boundaries for each occupancy, asset names, annotations and colour coding
- Sublease: a lease of a property by a tenant to a subtenant
- Temporary asset: any building with a lifespan of 5 years or less, or any buildings about to be demolished excluding storage sheds or electric substations