Accounts due before administration began at Walden School ‘were not filed’
PUBLISHED: 08:37 18 May 2018
The governors of Walden School, a registered charity and private school which closed last year, failed to file accounts for the financial year of 2016, the year before the company went into administration.
The last financial statements for the school in Saffron Walden were made up to August 31, 2015, and the next accounts were due by May 31, 2017, two months before the school entered administration on July 17, 2017.
Administrators Grant Thornton, who were called in by governors in 2017, confirmed to the Reporter that the accounts had not been filed and were now overdue, although they could not shed light on why they had not been sent to Companies House on time.
A spokesman for Grant Thornton said: “As can be seen at Companies House, the school’s financial statements for the year ended August 31, 2016, were not filed by the deadline of May 31, 2017, and were therefore overdue at the time that the administrators were appointed on July 17, 2017.
“The administrators have no responsibility to file financial statements for the school. As previously noted, the governors have prepared and filed a statement of affairs as at the date of the administrators’ appointment which provides a summary of the assets and liabilities of the school at that time.
“The administrators prepare and file a summary of their receipts and payments every six months during the course of the administration.
“Depending upon the outcome of the administration, it could become appropriate for the governors to bring the accounting records for the school up to date, but we do not know at this stage.”
A spokesman for the Charity Commission said: “We are aware that Walden School’s financial accounts are overdue and have reminded the charity that it must continue to file accounts whilst in administration.
“It is the legal responsibility of a charity’s trustees to continue to file accounts whilst the charity is in administration. The charity will remain on the register until the process is complete.”
Failure to deliver company accounts on time is a criminal offence and there is an automatic civil penalty for submitting accounts late, according to Companies House.