PMC EDUCATION TRUST

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 24 to the financial statements which explains that there has been a post balance sheet event where the charity has been sold. The school trade and assets have been sold to a new entity. The charity will continue to exist as a bursary making charity with its own balance sheet and charitable purpose. It will therefore continue as a going concern albeit with significant change in its activities.

• ◆

  6 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. PMC EDUCATION TRUST 2025-12-01 → present
2. PLYMOUTH COLLEGE AND ST DUNSTAN'S ABBEY SCHOOLS CHARITY 2004-07-26 → 2025-12-01

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

Consolidated group

Auditor

PKF Francis Clark

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 24 to the financial statements which explains that there has been a post balance sheet event where the charity has been sold. The school trade and assets have been sold to a new entity. The charity will continue to exist as a bursary making charity with its own balance sheet and charitable purpose. It will therefore continue as a going concern albeit with significant change in its activities.”

Group structure

1. PMC EDUCATION TRUST · parent
   1. Plymouth College Enterprises Limited 1% · England and Wales · trading subsidiary

Significant events

• “Group restructure completed on 14th February 2024, leading to the closure of Plymouth College Trust and St Dunstan's Abbey School Trust, and consolidation of Plymouth College Enterprises Limited.”
• “Introduction of VAT on school fees from January 2025, impacting financial costs and parents' ability to pay.”
• “Loss of mandatory rate relief from April 2025.”
• “Agreement reached to sell the School as a fully operational trading entity to Galaxy Global Education Group; exchange on 21st February 2025, completion on 4th April 2025.”
• “Secured bank loans repaid on 22nd August 2024, removing the covenant for annual cash surpluses of £160,000.”

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

Filings

16

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

6

last 12 months

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

• Turnover

  +7.7%

  £8,570,343 → £9,227,387

• Cash

  +9.6%

  £2,124,477 → £2,329,413

• Net assets

  -81.7%

  £5,929,426 → £1,083,979

• Employees

  +1.2%

  164 → 166

• Wages

  +2.4%

  £4,605,818 → £4,714,488

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