Registered number |
UK COLLEGE OF BUSINESS AND COMPUTING LTD | |
Report and accounts | |
Contents | |
Page | |
Company information | 1 |
Director's report | 2-3 |
Statement of director's responsibilities | 4 |
Strategic report | 5-6 |
Independent auditor's report | 7-9 |
Income statement | 10 |
Statement of comprehensive income | 11 |
Statement of financial position | 12 |
Statement of changes in equity | 13 |
Statement of cash flows | 14 |
Notes to the financial statements | 15-20 |
Company Information |
Director |
Auditors |
Chartered Accountants and Statutory Auditors |
65 Delamere Road |
Hayes |
Middlesex |
UB4 0NN |
Bankers |
Registered office |
East Gate House |
40 Dukes Place |
London |
England |
EC3A 7LP |
Registered number |
Registered number: | |||||||
Director's Report | |||||||
The director presents her report and financial statements for the year ended |
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Principal activities | |||||||
Objectives and Strategic Direction UKCBC’s strategic objectives are grounded in its vision to be a leading provider of accessible, industry-relevant, and technology-enabled higher education. The institution’s immediate priorities are: 1. OfS application for registration by 2025 This will allow UKCBC to admit international students under the Student Visa sponsorship route, affirm its regulatory compliance, and strengthen its case for future degree awarding powers. 2. Embed AI Across Curriculum AI will be a unifying theme across all UKCBC programs. Students will gain hands-on exposure to AI tools and techniques used in industry, enhancing their readiness for future roles. 3. Course Diversification into High-Demand Sectors New offerings in health, tourism, aviation, and project management will broaden UKCBC’s academic portfolio, attract new learner segments, and align with national workforce strategies. 4. Improve Teaching Quality and Student Outcomes Ongoing faculty development, internal audits, and student support enhancements aim to raise academic standards and improve NSS, retention, and graduate employment scores. 5. Sustain Long-Term Financial Health Disciplined financial planning, efficiency reviews, and investment in scalable infrastructure ensure UKCBC remains financially resilient in a volatile operating environment. These strategic pillars are supported by UKCBC’s commitment to social mobility, digital inclusion, and employer engagement. Through these investments, the college aims to increase its student base by 30% over three years and strengthen its position as a trusted delivery partner in UK higher education. |
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Stakeholder and Public Benefit UKCBC exists to serve learners who may otherwise be excluded from higher education. Its student body includes working adults, parents, first-generation university students, and learners from low-income backgrounds. Flexible study formats, modular learning, and weekend and evening timetables enable these students to access education without sacrificing personal or professional responsibilities. The institution’s mission is driven by four core principles: • Caring for Individuals: Every student receives personalised academic support, career counselling, and well-being resources tailored to their journey. • Commitment: UKCBC commits to its students from application to graduation, providing consistent access to tutors, advisors, and administrative support. |
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• Academic Excellence: Rigorous teaching standards and industry-informed curricula ensure students acquire both theoretical knowledge and practical skills. • Community and Diversity: UKCBC celebrates its diverse student population and fosters a culture of inclusion, respect, and mutual learning. Beyond the student body, UKCBC contributes to the wider public benefit by addressing skills gaps, participating in policy dialogues, and sharing best practices through collaborative networks. Strategic engagement with employers ensures that UKCBC graduates meet real-world expectations and have access to internship and job opportunities. UKCBC’s campus network across East and Central London provides access to education in areas with historically low participation rates. These locations have been chosen to maximise outreach to local communities and employers. |
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Future Developments Office for Students (OfS) registration UKCBC’s application is in the advanced planning stage. Internal systems and governance structures are being aligned with OfS requirements, and the institution is working with legal and quality advisors to ensure a successful submission. OfS registration will allow UKCBC to diversify its student population, expand international engagement, and seek full academic autonomy. AI Curriculum Integration Each program is undergoing redesign to embed AI learning outcomes aligned with industry practices. Business students will use AI for market forecasting, healthcare students for patient data analysis, and computing students for software development using machine learning tools. Faculty are receiving structured training and certification to deliver these modules with confidence. |
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Programs in Aviation Management, Public Health, and Tourism Studies will be launched by 2026, with further developments in Digital Transformation and Green Skills under review. All new programs are backed by employer advisory boards and market research to ensure relevance and demand. |
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Dividends | |||||||
A dividend of £NIL per share ( |
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Events since the balance sheet date | |||||||
Directors | |||||||
The following persons served as directors during the year: | |||||||
Going Concern | |||||||
The financial statements have been prepared on a going concern basis, with company generating profits before taxes of £4.08M (2023: profit of £1.4M) and net worth of the company as of 31 July 2024 was £4.4M (2023: £1.3M). The Company has substantially improved its overall financial performance in the year 2024 as compared to the exceptional losses and negative equity in the previous years. |
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The management has taken various measures to ease the cashflow pressures whilst maintaining healthy profits. This includes advanced planning, preparing budgets, conducting cost-benefit analysis, cutting down on wasteful expenditure, restructuring of existing loans with favourable terms, seeking equity investments and achieving growth and expansion with the help of investment partners for new projects. | |||||||
After considering the above mitigating measures undertaken, the Directors have prepared monthly cash flow forecast, following expected payment cycles that the Company has to fulfil for the next 12 months. The margins assumed are similar to those being achieved by the current project appraisals. The Directors considered the expected cash flows resulting from current workload and noted that the cash generated would enable the Company to have sufficient cash for at least 12 months from the date of signing the accounts by meeting its liabilities as and when they fall due for payment. The Directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. | |||||||
Director's responsibilities |
The director is responsible for preparing the report and financial statements in accordance with applicable law and regulations. | |||||||
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 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 director is required to: | |||||||
● | select suitable accounting policies and then apply them consistently; | ||||||
● | make judgements and estimates that are reasonable and prudent; | ||||||
● | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; | ||||||
● | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. | ||||||
The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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. |
Disclosure of information to auditors |
The director confirms that: | |||||||
● | so far as she is aware, there is no relevant audit information of which the company's auditor is unaware; and | ||||||
● | she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditor is aware of that information. |
This report was approved by the board on |
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Smitha George | |||||||
Director | |||||||
Strategic Report | |||
Business Overview The financial year ending July 2024 marked a stabilisation period for UKCBC as it repositioned its operations and academic offerings to align with long-term strategic objectives. Despite modest student recruitment volumes, the year served as a pivotal foundation for implementing structural improvements, securing strategic partnerships, and laying the groundwork for expansion into future-ready academic disciplines. Building on its 20-year legacy of delivering higher education to diverse and underrepresented learner populations, UKCBC focused on academic diversification to address emerging industry needs. Through newly established partnerships with the Plymouth Marjon University and Ravensbourne University, UKCBC launched programs in Creative Computing, Cybersecurity, and Digital Marketing. These fields represent high-growth sectors in the UK and internationally, aligning student outcomes with employment opportunities in digitally transforming industries. UKCBC's decision to embed English language and numeracy diagnostics into the admission process reflects its academic commitment to quality and preparedness. These pre-entry assessments ensure students have the foundational skills necessary for progression and are compliant with entry requirements set by partner universities. |
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UKCBC also made significant progress in preparing for Office for Students (OfS) registration. This regulatory milestone will allow the institution to sponsor international students, enhance compliance with sector standards, and build the foundation to pursue degree awarding powers. With the Department for Education expected to mandate OfS registration for all subcontracted or franchised providers by 2028, UKCBC’s early preparation demonstrates proactive governance and strategic foresight. Feedback from the National Student Survey (NSS) 2024 reflected strong performance, with UKCBC achieving its highest ever student satisfaction scores and surpassing national benchmarks across all categories. These outcomes reflect sustained efforts in student services, academic support, and teaching quality. Retention and completion rates remained significantly above the sector average, reaffirming UKCBC’s ability to support student progression. UKCBC continues to prioritise mature and non-traditional learners by offering flexible learning through evening and weekend classes, city-centre campus locations, and modular delivery. This student-centric model ensures accessibility and responsiveness to the varied needs of adult learners balancing education with work and family commitments. |
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Strategic Plans UKCBC is implementing a multi-year strategic expansion plan designed to modernise academic delivery, diversify program offerings, and embed emerging technologies into the curriculum. At the core of this plan is a £2 million investment into infrastructure, faculty recruitment, course development, and student services. A key component of the expansion strategy is the integration of Artificial Intelligence (AI) across academic programs. AI is being embedded into modules across five priority domains: Business Management, Health and Social Care, Digital Marketing, Creative Computing, and Construction Project Management. These fields have been selected based on labour market data, employer consultations, and student demand. Each program includes practical AI applications, such as predictive analytics, automation tools, data interpretation, and simulation-based learning. To support the delivery of these programs, UKCBC is establishing new computer labs, licensing industry-standard AI software, and training faculty in AI pedagogy. The integration of AI is not just technological—it also transforms teaching methods and enhances student employability through future-proof skill development. |
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In parallel, UKCBC is preparing to deliver new courses in Travel and Tourism, Aviation Management, and Public Health, reflecting the institution’s responsiveness to skills gaps in key sectors. These programs will be offered in collaboration with partner universities and supported by academic advisory panels to ensure they meet professional and employer standards. UKCBC’s marketing strategy underpins its growth trajectory. A multi-channel campaign is being launched to promote the AI-integrated programs and increase visibility in key recruitment regions. This includes digital outreach, AI-themed public webinars, community engagement events, and influencer partnerships. The marketing budget of £1.1 million over two years is expected to increase leads and conversions significantly. The expansion also involves upgrades to internal systems and compliance frameworks in preparation for OfS registration. Enhanced governance structures, academic oversight committees, and student feedback mechanisms have been introduced as part of this readiness plan. |
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Financial review The year saw a reduction in gross revenue, decreasing from £22 million to £18 million due to a lower intake of new students. This was an expected consequence of the time required to establish and operationalise new university partnerships, refine internal systems, and embed quality assurance mechanisms for diversified courses. Despite reduced income, EBITDA increased by £1 million because of cost management measures, efficiency gains, and a temporary pause in marketing expenditure related to new student acquisition. A renewed focus on productivity, streamlined staffing, and digital systems also contributed to the improved financial margin. UKCBC was able to repay outstanding debts, significantly reducing its financial exposure and improving its balance sheet. The net asset position improved by approximately £3 million, strengthening the institution’s financial sustainability. While the revenue impact of paused recruitment was notable, the institution remains in a healthy financial position and has adequate reserves to support planned investments and operational continuity. Regulatory changes impacting the sector—including the reduction in Foundation Year tuition fees from £9,250 to £5,760 and tighter controls on international student migration—present ongoing financial challenges. However, the small uplift in core undergraduate fees (from £9,250 to £9,535) has partially mitigated these pressures. UKCBC’s limited reliance on international students shields it from volatility in overseas student recruitment, although the cap on home fees continues to constrain income growth potential. The outlook for 2024-25 is cautiously optimistic. With student admissions projected to stabilise and new courses gaining traction, both revenue and operating surplus are expected to recover. The return to growth will be accelerated through the rollout of new programs and a renewed marketing strategy focused on domestic and international markets. |
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Enhanced Principal Risks and Uncertainties UKCBC updated its Corporate Risk Register in January 2025. The most material risks and mitigation strategies are: |
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Risk Area -Regulatory Compliance (OfS Readiness) -Quality Assurance in New Programs -Recruitment & Fee Cap Constraints -Cybersecurity & Tech Dependence -Financial Sustainability |
Mitigation Strategy -Dedicated OfS planning team; legal counsel; staff training on regulatory updates. -Internal validation processes, faculty development, partner review panels. -Expansion into new programs, new markets, cost optimisation initiatives. -Upgraded infrastructure, regular audits, enterprise firewalls and cyber insurance. -Reserves policy, debt repayment, scenario-based budgeting, and multi-year forecasting. |
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Risk oversight is managed by the Executive Team, and the Board is satisfied that risks are well managed and that the current strategy is sufficiently flexible to adapt to further changes in the sector. | |||
This report was approved by the board on 5 April 2025 and signed on its behalf. | |||
Smitha George | |||
Director | |||
UK COLLEGE OF BUSINESS AND COMPUTING LTD | ||
Independent auditor's report | ||
to the member of UK COLLEGE OF BUSINESS AND COMPUTING LTD | ||
Opinion |
We have audited the financial statements of UK COLLEGE OF BUSINESS AND COMPUTING LTD (the 'company') for the year ended 31 July 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows 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 the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). | ||
In our opinion, the financial statements: | ||
● | give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its profit for the year then ended; | |
● | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; | |
● | have been prepared in accordance with the requirements of the Companies Act 2006. |
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 Auditor’s 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. | ||
However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the absence of reference to a material uncertainty in this auditor's report is not a guarantee that the company will continue in operation. | ||
Other information | ||
The other information comprises the information included in the annual report other than the financial statements and our auditor’s 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 the audit: | ||
● | the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and | |
● | the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. | |
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 strategic report or 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: | ||
● | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or | |
● | the financial statements are not in agreement with the accounting records and returns; or | |
● | certain disclosures of directors’ remuneration specified by law are not made; | |
● | we have not obtained all the information and explanations that we require for our audit |
● | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. | |
Responsibilities of directors | ||
As explained more fully in the directors’ responsibilities statement, 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. | ||
Auditor’s 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 auditor’s 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. |
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: | ||
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 deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. | ||
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with those charged with governance of the Company. | ||
Our approach was as follows: | ||
We obtained a general understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are direct laws and regulations those have effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and taxation legislation. We obtained a general understanding of how the Company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance matters of the Company. For both direct and other laws and regulations, our procedures involved: making enquiry of the directors of the Company for their awareness of any noncompliance of laws or regulations, inquiring about the policies that have been established to prevent non-compliance with laws and regulations by officers and employees. |
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Our audit procedures included: | ||
•Examining the supporting documents for all material balances, transactions and disclosures •enquiry of management and review and inspection of relevant correspondence •evaluation of the selection and application of accounting policies •analytical procedures to identify any unusual or unexpected relationship •review of accounting estimates for biases |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. | ||
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 auditor's 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. | ||
65 Delamere Road | ||
(Senior Statutory Auditor) | Hayes | |
for and on behalf of | Middlesex | |
UB4 0NN | ||
Chartered Accountants and Statutory Auditors | ||
Income Statement | ||||||||
for the year ended |
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Notes | 2024 | 2023 | ||||||
£ | £ | |||||||
Turnover | 2 | |||||||
Cost of sales | ( |
( |
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Gross profit | ||||||||
Administrative expenses | ( |
( |
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Other operating income | ||||||||
Operating profit | 3 | |||||||
Exceptional - P/L W/o | - | (1,810,730) | ||||||
Interest receivable | ||||||||
Interest payable | 6 | ( |
( |
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Profit on ordinary activities before taxation | ||||||||
Tax on profit on ordinary activities | 7 | ( |
( |
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Profit for the financial year | ||||||||
Statement of Comprehensive Income | |||||||
for the year ended |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Profit for the financial year | |||||||
Other comprehensive income | |||||||
Total comprehensive income for the year | |||||||
Statement of Financial Position | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 8 | - | |||||
Tangible assets | 9 | ||||||
Current assets | |||||||
Debtors | 10 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 11 | ( |
( |
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Net current assets/(liabilities) | ( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 12 | - | ( |
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Provisions for liabilities | |||||||
Deferred taxation | 14 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | 15 | ||||||
Profit and loss account | 16 | ||||||
Total equity | |||||||
Smitha George | |||||||
Director | |||||||
Approved by the board on |
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Statement of Changes in Equity | ||||||||||
for the year ended |
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Share | Share | Other | Profit | Total | ||||||
capital | premium | reserves | and loss | |||||||
account | ||||||||||
£ | £ | £ | £ | £ | ||||||
At 1 August 2022 | - | - | ||||||||
Profit for the financial year | 817,311 | 817,311 | ||||||||
At 31 July 2023 | 1,000 | - | - | 1,388,134 | 1,389,134 | |||||
At 1 August 2023 | - | - | ||||||||
Profit for the financial year | ||||||||||
At 31 July 2024 | - | - | ||||||||
Statement of Cash Flows | ||||
for the year ended |
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2024 | 2023 | |||
£ | £ | |||
Operating activities | ||||
Profit for the financial year | 3,058,066 | 817,311 | ||
Adjustments for: | ||||
Interest receivable | (8,836) | (1,554) | ||
Interest payable | 439,379 | 287,614 | ||
Tax on profit on ordinary activities | 1,030,437 | 588,628 | ||
Depreciation | 404,146 | 448,458 | ||
Amortisation of intangible assets | 19,092 | 24,674 | ||
Decrease in debtors | 3,246,166 | 548,199 | ||
(Decrease)/increase in creditors | (3,542,752) | 82,113 | ||
Interest received | ||||
Interest paid | ( |
( |
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Interest element of finance lease payments | ( |
( |
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Corporation tax paid | ( |
( |
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Cash generated by operating activities | ||||
Investing activities | ||||
Payments to acquire tangible fixed assets | - | ( |
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Proceeds from sale of tangible fixed assets | - | |||
Cash used in investing activities | - | ( |
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Financing activities | ||||
Repayment of loans | ( |
( |
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Capital element of finance lease payments | ( |
( |
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Cash used in financing activities | ( |
( |
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Net cash generated | ||||
Cash generated by operating activities | ||||
Cash used in investing activities | - | ( |
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Cash used in financing activities | ( |
( |
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Net cash generated | ||||
Cash and cash equivalents at 1 August | 1,737,714 | 1,196,797 | ||
Cash and cash equivalents at 31 July | 4,430,035 | 1,737,714 | ||
Cash and cash equivalents comprise: | ||||
Cash at bank | ||||
Bank overdrafts | ( |
( |
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4,430,035 | 1,737,714 | |||
UK COLLEGE OF BUSINESS AND COMPUTING LTD | ||||||||
Notes to the Accounts | ||||||||
for the year ended 31 July 2024 | ||||||||
1 | Summary of significant accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Intangible fixed assets | ||||||||
Software | 15% on straight line | |||||||
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | ||||||||
Leasehold land and buildings | over the lease term | |||||||
Finance Leases equipments | 25% on reducing balance |
Finance Leases fixtures | 15 year straight line |
Computer and equipment | 25% on reducing balance |
Fixtures, fittings, tools and equipment | 25% on reducing balance |
Taxation | ||||||||
Provisions | ||||||||
Foreign currency translation | ||||||||
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets | ||||||||
Pensions | ||||||||
2 | Analysis of turnover | 2024 | 2023 | |||||
£ | £ | |||||||
Services rendered | ||||||||
By geographical market: | ||||||||
UK | ||||||||
Rest of world | ||||||||
3 | Operating profit | 2024 | 2023 | |||||
£ | £ | |||||||
This is stated after charging: | ||||||||
Depreciation of owned fixed assets | ||||||||
Depreciation of assets held under finance leases and hire purchase contracts | ||||||||
Amortisation of intangible assets | ||||||||
Auditors' remuneration for audit services | ||||||||
4 | Director's emoluments | 2024 | 2023 | |||||
£ | £ | |||||||
Emoluments | ||||||||
Company contributions to defined contribution pension plans | ||||||||
Highest paid director: | ||||||||
Emoluments | ||||||||
Company contributions to defined contribution pension plans | ||||||||
5 | Staff costs | 2024 | 2023 | |||||
£ | £ | |||||||
Wages and salaries | ||||||||
Social security costs | ||||||||
Other pension costs | ||||||||
Average number of employees during the year | Number | Number | ||||||
Administration | ||||||||
6 | Interest payable | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Other loans | ||||||||
Finance charges payable under finance leases and hire purchase contracts | ||||||||
7 | Taxation | 2024 | 2023 | |||||
£ | £ | |||||||
Analysis of charge in period | ||||||||
Current tax: | ||||||||
UK corporation tax on profits of the period | ||||||||
Deferred tax: | ||||||||
Origination and reversal of timing differences | ( |
( |
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Tax on profit on ordinary activities | ||||||||
Factors affecting tax charge for period | ||||||||
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Profit on ordinary activities before tax | ||||||||
£ | £ | |||||||
Profit on ordinary activities multiplied by the standard rate of corporation tax | ||||||||
Effects of: | ||||||||
Expenses not deductible for tax purposes | ||||||||
Current tax charge for period | ||||||||
8 | Intangible fixed assets | £ | ||||||
Software: | ||||||||
Cost | ||||||||
At 1 August 2023 | ||||||||
At 31 July 2024 | ||||||||
Amortisation | ||||||||
At 1 August 2023 | ||||||||
Provided during the year | ||||||||
At 31 July 2024 | ||||||||
Carrying amount | ||||||||
At 31 July 2024 | - | |||||||
At 31 July 2023 | ||||||||
9 | Tangible fixed assets | |||||||
Land and buildings | Computers and equipments |
Fixtures, fittings, tools and equipment | Total | |||||
At cost | At cost | At cost | ||||||
£ | £ | £ | £ | |||||
Cost or valuation | ||||||||
At 1 August 2023 | ||||||||
At 31 July 2024 | ||||||||
Depreciation | ||||||||
At 1 August 2023 | ||||||||
Charge for the year | ||||||||
At 31 July 2024 | ||||||||
Carrying amount | ||||||||
At 31 July 2024 | ||||||||
At 31 July 2023 | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts | ||||||||
10 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Other debtors | ||||||||
Prepayments and accrued income | ||||||||
11 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank overdrafts | ||||||||
Bank loans | ||||||||
Obligations under finance lease and hire purchase contracts | ||||||||
Trade creditors | ||||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest | - | |||||||
Corporation tax | ||||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
Accruals and deferred income | ||||||||
12 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | - | |||||||
Obligations under finance lease and hire purchase contracts | - | |||||||
Other creditors | - | |||||||
- | ||||||||
13 | Obligations under finance leases and hire purchase | 2024 | 2023 | |||||
contracts | £ | £ | ||||||
Amounts payable: | ||||||||
Within one year | ||||||||
Within two to five years | - | |||||||
14 | Deferred taxation | 2024 | 2023 | |||||
£ | £ | |||||||
Accelerated capital allowances | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
At 1 August | ||||||||
Credited to the profit and loss account | ( |
( |
||||||
At 31 July | ||||||||
15 | Share capital | Nominal | 2024 | 2024 | 2023 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
£ |
||||||||
16 | Profit and loss account | 2024 | 2023 | |||||
£ | £ | |||||||
At 1 August | ||||||||
Profit for the financial year | ||||||||
At 31 July | ||||||||
Summary of the prior year accounting impact | £ | |||||||
Decrease in depreciation charge | (41,941) | |||||||
17 | Related party transactions | 2024 | 2023 | |||||
£ | £ | |||||||
Mrs Smitha George | ||||||||
Director | ||||||||
Other creditors includes loan payable to Mrs Smitha George of: | 2,285 | 2,285 | ||||||
Debtors includes below company amounts where Mrs. S George is the sole director and 100% shareholder | ||||||||
NEWSTEAD QA LIMITED | 7,412 | - | ||||||
UKCBC BIRMINGHAM LTD | 400 | 200 | ||||||
18 | Controlling party | |||||||
19 | Presentation currency | |||||||
20 | Legal form of entity and country of incorporation | |||||||
UK COLLEGE OF BUSINESS AND COMPUTING LTD is a private company limited by shares and incorporated in England. | ||||||||
21 | Principal place of business | |||||||
The address of the company's principal place of business and registered office is: | ||||||||
East Gate House | ||||||||
40 Dukes Place | ||||||||
London | ||||||||
England | ||||||||
EC3A 7LP |