Registered number
04294645
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Report and Financial Statements
31 July 2024
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
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Company Information
Director
Smitha George
Auditors
The Corporate Practice Limited
Chartered Accountants and Statutory Auditors
65 Delamere Road
Hayes
Middlesex
UB4 0NN
Bankers
Lloyds Bank
Registered office
East Gate House
40 Dukes Place
London
England
EC3A 7LP
Registered number
04294645
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Registered number: 04294645
Director's Report
The director presents her report and financial statements for the year ended 31 July 2024.
Principal activities
The principal activity of the company is the provision of higher education services through classroom based teaching and learning support, provided through various campuses.
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.
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.
• 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.
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.
New Course launches

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.
Dividends
A dividend of £NIL per share (2023: £NIL) has been paid.
Events since the balance sheet date
Awarded a new partnership contract with Ravensbourne University with a first intake completed in Sep 2024.
Directors
The following persons served as directors during the year:
Smitha George
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.
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 5 April 2025 and signed on its behalf.
Smitha George
Director
UK COLLEGE OF BUSINESS AND COMPUTING LTD
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.
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.
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.
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.
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.
Enhanced Principal Risks and Uncertainties
UKCBC updated its Corporate Risk Register in January 2025. The most material risks and mitigation strategies are:
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.
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.
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
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.
Devender Arora ACA 65 Delamere Road
(Senior Statutory Auditor) Hayes
for and on behalf of Middlesex
The Corporate Practice Limited UB4 0NN
Chartered Accountants and Statutory Auditors
5 April 2025
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Income Statement
for the year ended 31 July 2024
Notes 2024 2023
£ £
Turnover 2 18,032,506 22,199,793
Cost of sales (3,836,110) (8,635,837)
Gross profit 14,196,396 13,563,956
Administrative expenses (9,837,345) (10,223,024)
Other operating income 159,995 161,797
Operating profit 3 4,519,046 3,502,729
Exceptional - P/L W/o - (1,810,730)
Interest receivable 8,836 1,554
Interest payable 6 (439,379) (287,614)
Profit on ordinary activities before taxation 4,088,503 1,405,939
Tax on profit on ordinary activities 7 (1,030,437) (588,628)
Profit for the financial year 3,058,066 817,311
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Statement of Comprehensive Income
for the year ended 31 July 2024
Notes 2024 2023
£ £
Profit for the financial year 3,058,066 817,311
Other comprehensive income
Total comprehensive income for the year 3,058,066 817,311
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Statement of Financial Position
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 8 - 19,092
Tangible assets 9 2,974,314 3,378,460
2,974,314 3,397,552
Current assets
Debtors 10 1,650,790 4,896,956
Cash at bank and in hand 4,441,047 1,755,142
6,091,837 6,652,098
Creditors: amounts falling due within one year 11 (4,534,549) (7,520,515)
Net current assets/(liabilities) 1,557,288 (868,417)
Total assets less current liabilities 4,531,602 2,529,135
Creditors: amounts falling due after more than one year 12 - (1,027,465)
Provisions for liabilities
Deferred taxation 14 (84,402) (112,536)
Net assets 4,447,200 1,389,134
Capital and reserves
Called up share capital 15 1,000 1,000
Profit and loss account 16 4,446,200 1,388,134
Total equity 4,447,200 1,389,134
Smitha George
Director
Approved by the board on 5 April 2025
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Statement of Changes in Equity
for the year ended 31 July 2024
Share Share Other Profit Total
capital premium reserves and loss
account
£ £ £ £ £
At 1 August 2022 1,000 - - 570,823 571,823
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 1,000 - - 1,388,134 1,389,134
Profit for the financial year 3,058,066 3,058,066
At 31 July 2024 1,000 - - 4,446,200 4,447,200
UK COLLEGE OF BUSINESS AND COMPUTING LTD
Statement of Cash Flows
for the year ended 31 July 2024
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
4,645,698 2,795,443
Interest received 8,836 1,554
Interest paid (355,731) (149,263)
Interest element of finance lease payments (83,648) (138,351)
Corporation tax paid (632,562) (563,474)
Cash generated by operating activities 3,582,593 1,945,909
Investing activities
Payments to acquire tangible fixed assets - (95,409)
Proceeds from sale of tangible fixed assets - 4,284
Cash used in investing activities - (91,125)
Financing activities
Repayment of loans (277,765) (581,048)
Capital element of finance lease payments (612,507) (732,819)
Cash used in financing activities (890,272) (1,313,867)
Net cash generated
Cash generated by operating activities 3,582,593 1,945,909
Cash used in investing activities - (91,125)
Cash used in financing activities (890,272) (1,313,867)
Net cash generated 2,692,321 540,917
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 4,441,047 1,755,142
Bank overdrafts (11,012) (17,428)
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
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Analysis of turnover 2024 2023
£ £
Services rendered 18,032,506 22,199,793
By geographical market:
UK 16,329,938 20,776,621
Rest of world 1,702,568 1,423,172
18,032,506 22,199,793
3 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 209,479 253,791
Depreciation of assets held under finance leases and hire purchase contracts 194,667 194,667
Amortisation of intangible assets 19,092 24,674
Auditors' remuneration for audit services 23,400 23,400
4 Director's emoluments 2024 2023
£ £
Emoluments 144,000 136,000
Company contributions to defined contribution pension plans 4,320 4,080
148,320 140,080
Highest paid director:
Emoluments 144,000 136,000
Company contributions to defined contribution pension plans 4,320 4,080
148,320 140,080
5 Staff costs 2024 2023
£ £
Wages and salaries 3,134,086 3,563,253
Social security costs 245,484 287,629
Other pension costs 54,694 72,516
3,434,264 3,923,398
Average number of employees during the year Number Number
Administration 70 86
70 86
6 Interest payable 2024 2023
£ £
Bank loans and overdrafts 51,241 97,263
Other loans 304,490 52,000
Finance charges payable under finance leases and hire purchase contracts 83,648 138,351
439,379 287,614
7 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 1,058,571 632,562
Deferred tax:
Origination and reversal of timing differences (28,134) (43,934)
Tax on profit on ordinary activities 1,030,437 588,628
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 4,088,503 1,405,939
Standard rate of corporation tax in the UK 25% 25%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 1,022,126 351,485
Effects of:
Expenses not deductible for tax purposes 36,445 281,077
Current tax charge for period 1,058,571 632,562
8 Intangible fixed assets £
Software:
Cost
At 1 August 2023 164,491
At 31 July 2024 164,491
Amortisation
At 1 August 2023 145,399
Provided during the year 19,092
At 31 July 2024 164,491
Carrying amount
At 31 July 2024 -
At 31 July 2023 19,092
Software is being written off every year 15% on straight line basis.
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 1,188,566 3,783,134 1,472,086 6,443,786
At 31 July 2024 1,188,566 3,783,134 1,472,086 6,443,786
Depreciation
At 1 August 2023 426,875 1,507,180 1,131,271 3,065,326
Charge for the year 79,238 239,671 85,237 404,146
At 31 July 2024 506,113 1,746,851 1,216,508 3,469,472
Carrying amount
At 31 July 2024 682,453 2,036,283 255,578 2,974,314
At 31 July 2023 761,691 2,275,954 340,815 3,378,460
2024 2023
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 2,669,813 2,864,480
10 Debtors 2024 2023
£ £
Trade debtors 227,231 3,490,596
Amounts owed by group undertakings and undertakings in which the company has a participating interest 7,812 200
Other debtors 1,232,390 1,340,551
Prepayments and accrued income 183,357 65,609
1,650,790 4,896,956
11 Creditors: amounts falling due within one year 2024 2023
£ £
Bank overdrafts 11,012 17,428
Bank loans 160,991 310,382
Obligations under finance lease and hire purchase contracts 33,322 601,195
Trade creditors 1,051,564 2,124,273
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 2,588
Corporation tax 1,058,571 632,562
Other taxes and social security costs 61,977 1,138,706
Other creditors 201,258 622,549
Accruals and deferred income 1,955,854 2,070,832
4,534,549 7,520,515
12 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 128,374
Obligations under finance lease and hire purchase contracts - 44,634
Other creditors - 854,457
- 1,027,465
13 Obligations under finance leases and hire purchase 2024 2023
contracts £ £
Amounts payable:
Within one year 33,322 601,195
Within two to five years - 44,634
33,322 645,829
14 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 84,402 112,536
2024 2023
£ £
At 1 August 112,536 156,470
Credited to the profit and loss account (28,134) (43,934)
At 31 July 84,402 112,536
15 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,000 1,000 1,000
16 Profit and loss account 2024 2023
£ £
At 1 August 1,388,134 570,823
Profit for the financial year 3,058,066 817,311
At 31 July 4,446,200 1,388,134
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
Mrs Smitha George, the director of the company is the controlling party.
19 Presentation currency
The financial statements are presented in Sterling.
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
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