Let's begin

We start off by looking at some OLD figures - the ones from 2004 as they are readily available online...

"The charity achieved an operating surplus during the year of £76,266. The trustees expect to achieve an increased surplus during the next financial year. The bank loan and overdraft facility are secured by a fixed and floating charge over the charity's assets. Loan schemes were launched to enhance the school facilities in 1999 and 2002 and these remained in place during the year. The Bolitho Parent and Staff Association is a fund raising organisation run by the parents and staff of the school. The funds raised by the association are used to buy books and other equipment for the school . During the year the association donated £nil (2003 £5,117)."

and

"During the year the charitable company paid I Bolitho Company Limited the sum of £156,259 towards the cost of equipment rental and the rent of accomodation (2003 E22,463)
During the year the charitable company invoiced St Erbyns Company Ltd the sum of £11,068 for the work carried out towards the development of property. Mr J Clarke is a director of all three companies"

Mr Clarke was one of the Trustees and Chairman of the Board of Governors.....

School fees:

2,491,137 (2004) 1,942,984 (2003)

That's a healthy increase!

Teaching and care staff for the school:

1,152,568 (2004) 1,012,266 (2003)

64 teaching staff at these costs:

1,684,051 (2004) 1,428,373 (2003)

That's all good - though if you look at the loan interest, that's somewhat high....

Interest payable 84,415 (2004) 74,058 (2003)

Of course, that was in 2004. At the parents' meeting in January 2009 (according to The Times) this was said:

"Yes, if half a million pounds could be raised, the school’s future would be secure; indeed, it was trading at a surplus and recruitment for the coming years was better than expected. Yes, parents could have full access to accounts, current profit and loss statements, business plans and management accounts."

Secure future?
Trading at a surplus?
Recruitment for the coming years was better than expected (for 'recruitment' read 'revenue derived from fees)

Full access to the business plan...

Where did it all go wrong?