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
Manchester United manager Louis van Gaal says Ryan Giggs will almost certainly succeed him at Old Trafford.
David Cameron has apologised for experiencing "brain fade" after he forgot which football team he supports.
Fans can finally have their first look at Jared Leto's incarnation of the classic villain in 2016's Suicide Squad