CORFE HILLS SCHOOL ACADEMY TRUST

• ⚠

  Material uncertainty over going concern

  On 1 October 2024 the academy transferred all assets, liabilities and activities to Initio Learning Trust resulting in this academy trust ceasing all activities and operations in its own right. Due to the transfer to Initio Learning Trust the Trustees no longer consider the company to be a going concern. As a result of the trustee's assessment these financial statements have been prepared on a basis other than going concern and the fair value of all assets and liabilities have been assessed and classified respectively as current.

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

Moore (South) LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“On 1 October 2024 the academy transferred all assets, liabilities and activities to Initio Learning Trust resulting in this academy trust ceasing all activities and operations in its own right. Due to the transfer to Initio Learning Trust the Trustees no longer consider the company to be a going concern. As a result of the trustee's assessment these financial statements have been prepared on a basis other than going concern and the fair value of all assets and liabilities have been assessed and classified respectively as current.”

Significant events

• “The financial risks have been mitigated by the school joining Initio Learning Trust from 1st October 2024.”
• “The school submitted to the ESFA in July 2024 its 3-year budget forecast return, which shows significant in-year deficits in years 1,2 and 3. A 5-year Financial Recovery Plan revised 5-year financial projection was prepared at this time showing an improving position with in-year revenue surpluses in years 4 and 5 leading to an overall surplus in year 5.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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

  +10%

  £5,586,093 → £6,142,434

• Cash

  -19.9%

  £337,367 → £270,282

• Net assets

  -3.1%

  £21,589,288 → £20,919,775

• Employees

  -1.4%

  144 → 142

• Operating profit

  -22.3%

  -£666,504 → -£815,458

• Profit before tax

  -22.4%

  -£664,743 → -£813,513

• Wages

  +11.7%

  £3,492,401 → £3,900,265

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