COLLAGE ARTS.

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 3 in the financial statements, which indicates that the Charity incurred operating losses during the year and, as of the balance-sheet date, its current liabilities exceed its current assets by £705,976. As stated in Note 3, these events and conditions, along with the matters set out in that note regarding the Charity's funding position and forecast cash flows, indicate that a material uncertainty exists that may cast significant doubt on the Charity's ability to continue as a going concern

1. COLLAGE ARTS. 2003-04-15 → present
2. HARINGEY ARTS COUNCIL 1993-08-27 → 2003-04-15

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

Auditor

Brian Paul Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 3 in the financial statements, which indicates that the Charity incurred operating losses during the year and, as of the balance-sheet date, its current liabilities exceed its current assets by £705,976. As stated in Note 3, these events and conditions, along with the matters set out in that note regarding the Charity's funding position and forecast cash flows, indicate that a material uncertainty exists that may cast significant doubt on the Charity's ability to continue as a going concern”

Significant events

• “The Double Whammy of BREXIT (2016-2019) & COVID-19 (2020-2021) upturned the Charities Funding Landscape and Opportunities, impacting all our Plans/long-term strategies.”
• “Getting back to the levels of funding pre-2020 has proven exceedingly difficult as the funding world has totally changed post-Brexit / post- pandemic.”
• “Meanwhile the short-term leases taken in 2016 were not extended as initial promised. All of the above contributing to the build-up of the current debt.”
• “To meet all the challenges brought about by these significant issues we the Board of trustees are starting to reset the organisation in readiness to establish a sustainable strategy going forward.”

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

  -17.9%

  £1,468,630 → £1,206,051

• Cash

  -100%

  £15,032 → £1

• Net assets

  -60.2%

  -£440,761 → -£705,976

• Employees

  -33.3%

  12 → 8

• Operating profit

  +54%

  -£517,378 → -£237,835

• Profit before tax

  +52.6%

  -£558,958 → -£265,215

• Wages

  -24.3%

  £309,388 → £234,269

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