SOUTH CUMBRIA MULTI-ACADEMY TRUST

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.2 in the financial statements, which indicates that the Trust held deficit restricted funds of £58,052 at the year end date and post year end has utilised a significant amount of its cash reserves and will require DfE support to continue in operational existence for a period of 12 months from the point of signing the financial statements. As stated in note 2.2, these events or conditions, along with the other matters as set forth.in-note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Trust's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  7 officer resignations in last 12 months

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

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

• Turnover

  +95.4%

  £5,900,597 → £11,531,842

• Cash

  -8.7%

  £873,820 → £797,684

• Net assets

  +37.1%

  £9,816,922 → £13,462,960

  highest in 3 filed years

• Employees

  +116.6%

  187 → 405

• Operating profit

  -46.8%

  £7,311,060 → £3,886,133

• Profit before tax

  -49.4%

  £7,204,060 → £3,646,038

• Wages

  +116%

  £3,491,685 → £7,542,627

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

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

Armstrong Watson Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.2 in the financial statements, which indicates that the Trust held deficit restricted funds of £58,052 at the year end date and post year end has utilised a significant amount of its cash reserves and will require DfE support to continue in operational existence for a period of 12 months from the point of signing the financial statements. As stated in note 2.2, these events or conditions, along with the other matters as set forth.in-note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Trust's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “2023/24 was a particularly challenging year for the Trust which was faced with several unavoidable cost pressures for which it did not have the opportunity to fully plan and fund. Consequently, the Trust saw a significant operating deficit and a subsequent reduction in its reserves.”
• “Growth of the MAT to date has necessitated using existing reserves in order to fund Central Services, largely due to the fact that SCMATs inception was a single small Academy and that its numbers in total still fall short of the ideal target for a Multi-Academy Trust.”
• “Finally, two of the three schools which joined the Trust in 2023/24 had planned to use a portion of their cumulative surplus to fund in-year expenditure. This was, essentially, a planned in-year deficit at those two schools which contributed significantly to the overall deficit.”

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

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

7

last 12 months

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