What has been described as a challenging financial situation is being faced at the school whose former head has been chosen to be the new head teacher of the Folkestone Academy.

Sean Heslop takes over this summer, replacing John Patterson who died last year.

Tiffin Boys, in Kingston upon Thames, Surrey, needed a cash injection from the borough council after it was revealed it had burned through its savings to the tune of £350,000.

Chairman of governors at the Tiffin school Stuart Lester said: “The school is currently facing a challenging financial situation and costs may run as much as £350,000 over plan for the year.

“The situation is more acute now because we have been using savings to invest in wider opportunities and facilities during the last four years, and we no longer have the large safety net which was previously available.

“The school envisages that the loan from Kingston Council to enable the school to cover its expenses through this period will be no more than £50,000.”

The school had gone through several changes of financial management over the year and had not had a permanent bursar. Previous budget overspends had been met by a school voluntary fund, but this fund was now empty.

Mr Heslop resigned from Tiffin last month.

In a message to his former school, Mr Heslop said: “In view of the developing situation at Tiffin School I would like to bring my date of resignation forward.

“I have taken this decision because I believe it will enable Tiffin School to move out of the current situation with [new executive head] Pauline Cox working closely with the school’s existing leadership team.

“It would be very difficult for that to happen with the existing head still in place and, in the circumstances, speed is now of the essence.”

Speaking on behalf of the Folkestone Academy Trust, Peter Bettley said: “Sean Heslop has been appointed as principal of The Folkestone Academy because of his excellent leadership qualities and his ability to inspire students and members of staff.

“Sean has the skills to lead and develop the talented management team at the Academy, which follows robust financial procedures.

“We are confident that The Folkestone Academy will thrive under his direction.”