The CIPFA Bulletin 11 Accounting for Assets Owned by Religious Bodies and Used by Schools covers the issues to be considered regarding the accounting treatment of assets owned by religious bodies (church/trustees) for schools within the maintained sector.
Note that until full mandatory implementation of IFRS 16 Leases in 2024/25 this bulletin will only apply to local authorities that have voluntarily implemented IFRS 16 either as of 1 April 2022 or 1 April 2023. It also only applies to English and Welsh local authorities.