Company registration number 06096173 (England and Wales)
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
COMPANY INFORMATION
Directors
PK Johnstone
PR Hepburn
JS Gordon
Secretary
Resolis Limited
Company number
06096173
Registered office
1 Park Row
Leeds
United Kingdom
LS1 5AB
Auditor
Johnston Carmichael LLP
7-11 Melville Street
Edinburgh
EH3 7PE
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditors' report
4 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 16
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2023.

Principal activities

The principal activity of the company is that of a holding company for Pyramid Schools (Plymouth) Limited whose principal activity continued to be that of a Private Finance Initiative (PFI) concession contract to design, build, refurbish, finance and operate two schools in Plymouth.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

PK Johnstone
(Appointed 20 December 2023)
ID Lamerton
(Resigned 9 February 2023)
PR Hepburn
(Appointed 9 February 2023)
J McDonagh
(Appointed 1 March 2023 and resigned 20 December 2023)
JS Gordon
(Appointed 1 March 2023)

Performance review

The result for the financial year, after taxation, amounted to £365,000 (2022: £537,000)

The directors are satisfied with the overall performance of the Company and do not foresee any significant change in the Company's activities in the coming financial year.

Going concern

The Going Concern disclosure can be found in note 1.2 of the financial statements.

Dividends

The total distribution of dividends for the year ended 30 September 2023 were £365,000 (2022: £537,000). Dividends proposed post year end total £90,000.

Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Auditor

Pursuant to Section 487 of the Companies Act 2006, the auditors will be deemed to be reappointed and Johnston Carmichael LLP will therefore continue in office.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
On behalf of the board
PR Hepburn
Director
13 March 2024
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS OF PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
- 4 -
Opinion

We have audited the financial statements of Pyramid Schools (Plymouth) Holdings Limited (the 'company') for the year ended 30 September 2023 which comprise the profit and loss account, balance sheet, statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent the audit was considered capable of detecting irregularities, including fraud

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations by considering their experience, past performance and support available.

All engagement team members were briefed on relevant identified laws and regulations and potential fraud risks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
- 6 -

We obtained an understanding of the legal and regulatory frameworks that are applicable to company and the sector in which it operates, focusing on provisions that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks we identified include:

 

We gained an understanding of how the company is complying with these laws and regulations by making enquiries of management and those charged with governance. We corroborated these enquiries through our review of relevant correspondence with regulatory bodies and board meeting minutes.

We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management and those charged with governance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with governance were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management and those charged with governance oversee the implementation and operation of controls. We identified a heightened fraud risk in relation to:

In addition to the above, the following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

 

Our audit procedures were designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
- 7 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Grant Roger
For and on behalf of Johnston Carmichael LLP
13 March 2024
Chartered Accountants
Statutory Auditor
7-11 Melville Street
Edinburgh
EH3 7PE
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
2023
2022
Notes
£'000
£'000
Income from shares in subsidiary undertakings
5
365
537
Interest receivable and similar income
5
342
396
Interest payable and similar expenses
6
(342)
(396)
Profit before taxation
365
537
Tax on profit
-
0
-
0
Profit for the financial year
365
537

 

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 9 -
2023
2022
Notes
£'000
£'000
£'000
£'000
Fixed assets
Investments
7
2,741
2,813
Current assets
Debtors
8
147
209
Creditors: amounts falling due within one year
9
(211)
(316)
Net current liabilities
(64)
(107)
Total assets less current liabilities
2,677
2,706
Creditors: amounts falling due after more than one year
10
(2,676)
(2,705)
Net assets
1
1
Capital and reserves
Called up share capital
11
1
1

The notes on pages 10 - 15 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 March 2024 and are signed on its behalf by:
PR Hepburn
Director
Company Registration No. 06096173
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£'000
£'000
£'000
Balance at 1 October 2021
1
-
0
1
Year ended 30 September 2022:
Profit and total comprehensive income for the year
-
537
537
Dividends
-
(537)
(537)
Balance at 30 September 2022
1
-
0
1
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
365
365
Dividends
-
(365)
(365)
Balance at 30 September 2023
1
-
0
1
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 11 -
1
Accounting policies
Company information

Pyramid Schools (Plymouth) Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Park Row, Leeds, United Kingdom, LS1 5AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentational currency of the financial statements is pounds sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared on the going concern basis under the historical cost convention. The principal accounting policies adopted are set out below.

The Company has taken advantage of the exemption in Section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. Consequently, these financial statements present the financial position of the Company as a single entity.

1.2
Going concern

The company is a holding company for Pyramid Schools (Plymouth) Limited. As such whilst assessing the company's ability to continue as a going concern the directors have reviewed the subsidiary's ability to continue as a going concern for a period of at least 12 months from the date of signing these financial statements.true

Pyramid Schools (Plymouth) Limited had an Event of Default (EoD) under the Credit Agreement, Project Agreement and Facilities Management Subcontract Agreement which indicate the existence of material uncertainty which may cause doubt about the company’s ability continue as a going concern. Further details are set out in the subsidiary's financial statements. The directors have considered the impact of the EoD in the subsidiary on the going concern of the company and are satisfied that the company can continue as a going concern.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 12 -
1.4
Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Company's statement of financial position when the Company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate interest.

Loans and receivables

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of the interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting its liabilities.

Basic financial liabilities

Basic financial liabilities, including bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 13 -
Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the obligation specified in the contract is discharged, cancelled, or expires

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the opinion of the directors there are no key areas of judgement or estimation uncertainty.

3
Employees

The average monthly number of persons employed by the company during the year was nil (2022: nil). The directors did not receive any remuneration from the Company during the year (2022: £nil).

4
Dividends

Dividends of £365,000 (2021: £537,000) were paid during the year ended 30 September 2023. The directors have also proposed dividends post year end of £90,000.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 14 -
5
Interest receivable and similar income
2023
2022
£'000
£'000
Interest receivable and similar income includes the following:
Income from shares in group undertakings
365
537
Interest on loans and receivables
342
396
6
Interest payable and similar expenses
2023
2022
£'000
£'000
Interest payable and similar expenses includes the following:
Interest payable to group undertakings
342
396
7
Fixed asset investments
2023
2022
£'000
£'000
Shares in group undertakings and participating interests
1
1
Loans to group undertakings and participating interests
2,740
2,812
2,741
2,813

The Company's subsidiary undertaking, Pyramid Schools (Plymouth) Limited, is wholly owned and incorporated in the United Kingdom. Its registered address 1 Park Row, Leeds, United Kingdom, LS1 5AB. Its activity is to provide design, build, finance and operate the services under a Private Finance Initiative concession contract. Interest is charged on the subordinated loan stock balance at a rate of 13%. The loan is unsecured and repayable in instalments over a period of 25 years, which commenced in 2009.

Movements in fixed asset investments
Shares in group undertakings
Loans to group undertakings
Total
£'000
£'000
£'000
Cost or valuation
At 1 October 2022
1
2,812
2,813
Repayments
-
(72)
(72)
At 30 September 2023
1
2,740
2,741
Carrying amount
At 30 September 2023
1
2,740
2,741
At 30 September 2022
1
2,812
2,813
PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 15 -
8
Debtors
2023
2022
Amounts falling due within one year:
£'000
£'000
Other debtors
147
209

 

Other debtors comprises of accrued interest on subordinated loans to subsidiary undertakings.
9
Creditors: amounts falling due within one year
2023
2022
£'000
£'000
Other creditors
211
316
Amounts owed to group undertakings includes accrued interest payable on loan notes issued.
10
Creditors: amounts falling due after more than one year
2023
2022
£'000
£'000
Other creditors
2,676
2,705

On 27 February 2007, the Company issued £4,000,000 in order to subscribe to the loan notes referred to in note 8. The loan has an interest rate equal to that of the Company's investment in its subsidiary, Pyramid Schools (Plymouth) Limited and is repayable in line with that investment. The loan has an interest rate equal to that of the Company's investment in its subsidiary, Pyramid Schools (Plymouth) Limited (13%) and is repayable in line with that investment. The directors believe 13% is market value.

Creditors which fall due after five years are as follows:
2023
2022
£'000
£'000
Payable by instalments
2,326
2,643
11
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£'000
£'000
Issued and fully paid
Ordinary share capital issued and fully paid of £1 each
1,000
1,000
1
1
12
Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the Group.

PYRAMID SCHOOLS (PLYMOUTH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 16 -
13
Controlling party

The Company is wholly owned by Environments for Learning Ltd, a company which is registered in England and having the same registered office as the Company.  In the opinion of the Directors, there is no ultimate controlling party.

 

The smallest and largest group in which the Company’s results are consolidated is Environments for Learning Limited, a company registered in England.  Copies of the consolidated accounts are available from Companies House. 

 

 

 

 

 

 

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