Kogan Academy of Dramatic Arts was struck off the register by the Charity Commission (equivalent of OSCR for England and Wales) recently after they “chose not to prepare accounts”.
The strike-off follows a year long investigation into the School, which found that over several years the trustees (who were also directors) failed to comply with their legal obligations to present accounts to the Commission. This now means that it is no longer able to operate, thus having an impact on its students alongside any creditors, such as the landlord who was due close to £200k.
For us at M&S Accountancy and Taxation this highlights the importance of ensuring that all legal obligations are met by businesses. If you are in any doubt as to what the legal requirements of your business are, or would like assistance in please get in touch.
Callum McKinnon, M&S Accountancy and Taxation
