THE COLLEGIATE CHARITABLE FOUNDATION

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  Material uncertainty over going concern

  We draw attention to note 10 to the financial statements, which indicates that the charitable company has open enquiries with HMRC and the Charity Commission, with HMRC claiming potential tax liabilities of up to £2.3 million but the former trustees dispute the liability. As at 31 August 2025, the company's assets exceeded its total liabilities by £859,927. As stated in note 10, although the outcome of the open enquiries is not certain, they do indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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  Going-concern uncertainty disclosed

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. 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.

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

Accounting basis

FRS 102

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Watson Buckle Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 10 to the financial statements, which indicates that the charitable company has open enquiries with HMRC and the Charity Commission, with HMRC claiming potential tax liabilities of up to £2.3 million but the former trustees dispute the liability. As at 31 August 2025, the company's assets exceeded its total liabilities by £859,927. As stated in note 10, although the outcome of the open enquiries is not certain, they do indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “On 13 August 2018, the Charity Commission appointed Geoffrey Lambert Carton-Kelly and Thomas Campbell MacLennan of FRP Advisory Trading Limited as interim managers to the Charity pursuant to section 76(3)(g) of the Charities Act 2011.”
• “The Charity Commission opened a class statutory inquiry into The Collegiate Charitable Foundation (registered charity number 1012924) on 22 January 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.