A damming leaked document revealing the headmaster’s budgets for last year and 2017 show that the financial pressures facing Abbots Bromley School have been known for many years.
The full budget breakdown of the school year reveals damming information that allows us to understand the true reasons the school was destined for failure, in the coming weeks we will provide a breakdown of these figures.
We can today exclusively reveal that in 2017 the financial troubles really started to stack up and the school was hours from going out of business due to pressure from creditors including HMRC for non-payment of Taxes.
Things become that bad in 2017 that Abbots Bromley School could not meet payments to HMRC for PAYE taxes, this money is a tax charged on teachers and staff pay to contribute towards pensions and National insurance payments etc.
The damming evidence of the payment arrangement with HMRC shows that the governing body failed in its duty to operate the school in a financially prudent way.
Despite the severe debts owed to creditors, the school was still actively still recruiting pupils with false promises of a secure future at Abbots Bromley School.
Despite the severe issues known to the governors and to the headteacher, no planning was done to achieve an advanced sale of the school and no active talks were held with other parties to secure a future for the school.
HMRC debts required the governors to make a payment arrangement to pay back the taxes deducted at source
Here is a snippet from the leaked documents prior to the crisis hitting Abbots Bromley School.
In the coming weeks we will reveal:
- How the school was hours from closing suddenly
- How the teacher’s wages were hours from not being paid.
- Teacher pension payment problems.
- How the trustees of the Guild failed to act in the best interests of the school and made a fatal decision which sealed the school’s closure.
- Details of the loan agreements with Woodard and Lloyds TSB.
- Plus so much more.