A spokesman for Kings Science Academy told Newsnight the school acknowledges it had suffered from "poor governance issues".
The matters which you raise relate to issues regarding finance and governance two years ago during the Academy set-up process.
We acknowledge there were poor governance issues during the start-up due to the pace of setting up the new school in two/three months.
These have since been addressed with the support of external auditors and accountants. All payments received from DfE have been fully accounted for by the Academy, and any sums incorrectly claimed have been repaid.
More top news
Labour leadership contender Yvette Cooper has accused Jeremy Corbyn of not being straight with people over the economy.
Most of Britain to remain dry & cloudy.
Former Foreign Secretary David Miliband has told ITV News that Britain could take around 25,000 refugees during the current crisis.