THE COLLEGIATE CHARITABLE FOUNDATION

• ⚠

  Material uncertainty over going concern

  Note 10 indicates open enquiries with HMRC and Charity Commission, with HMRC claiming potential tax liabilities of up to £2.3M, disputed by former trustees. While assets exceed liabilities, these enquiries indicate material uncertainty casting significant doubt on going concern. Auditor's opinion is not modified in respect of this matter.

1. THE COLLEGIATE CHARITABLE FOUNDATION 2007-10-08 → present
2. QUEEN ETHELBURGA'S COLLEGE FOUNDATION 1991-09-03 → 2007-10-08

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Watson Buckle Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Note 10 indicates open enquiries with HMRC and Charity Commission, with HMRC claiming potential tax liabilities of up to £2.3M, disputed by former trustees. While assets exceed liabilities, these enquiries indicate material uncertainty casting significant doubt on going concern. Auditor's opinion is not modified in respect of this matter.”

Significant events

• “The Charity Commission opened a class statutory inquiry into The Collegiate Charitable Foundation (registered charity number 1012924) on 22 January 2018.”
• “Due to the seriousness of its regulatory concerns, the Charity Commission subsequently appointed Geoffrey Lambert Carton-Kelly and Thomas MacLennan of FRP Advisory Trading Limited as Joint Interim Managers of The Collegiate Charitable Foundation on 13 August 2018.”
• “HMRC and the Charity Commission have raised enquiries into Gift Aid claims and expenditure on charitable activities claiming that up to £962,500 of Gift Aid was wrongly claimed by the Former Trustees and £16.8 million of charitable expenses was for commercial incentives rather than for charitable purposes leading to further tax liabilities of up to £2.3 million.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +7.1%

  £6,583,698 → £7,050,204

• Cash

  +120.9%

  £181,229 → £400,376

• Net assets

  +81.8%

  £322,744 → £586,835

• Employees

  —

  Not reported

• Operating profit

  +83.3%

  £151,656 → £278,040

• Profit before tax

  +83.7%

  £159,621 → £293,270

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers