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REGISTERED NUMBER: 14282467 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 August 2024

for

PLANET EDUCATION NETWORKS LTD

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Contents of the Consolidated Financial Statements

for the Year Ended 31 August 2024

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 5 |

Report of the Independent Auditors | 7 |

Consolidated Income Statement | 11 |

Consolidated Other Comprehensive Income | 12 |

Consolidated Balance Sheet | 13 |

Company Balance Sheet | 14 |

Consolidated Statement of Changes in Equity | 15 |

Company Statement of Changes in Equity | 16 |

Consolidated Cash Flow Statement | 17 |

Notes to the Consolidated Cash Flow Statement | 18 |

Notes to the Consolidated Financial Statements | 20 |

PLANET EDUCATION NETWORKS LTD

Company Information

for the Year Ended 31 August 2024

| Directors: | A A Faruki

| M A Rahman

| C D Bell

| Registered office: | Ground Floor Unit H1, Moorfoot House

| Meridian Gate

| 221 Marsh Wall

| London

| E14 9FJ

| Registered number: | 14282467 (England and Wales)

| Auditors: | Andertons Europe Ltd (Statutory Auditors)

| 1st Floor

| 156 Cromwell Road

| London

| SW7 4EF

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Group Strategic Report

for the Year Ended 31 August 2024

The directors present the Strategic Report for Planet Education Networks Limited ("PEN" or "the Group") for the financial year ended 31 August 2024. The report outlines the Company's strategic priorities, operational and financial performance, significant developments, and future outlook.

Group Overview and Structure

Planet Education Networks Limited is a leading private education group based in London, United Kingdom. The Group comprises a diverse portfolio of education providers delivering higher education, further education, vocational training, language education, and related services across the UK and Ireland.

The principal subsidiaries consolidated within the Group are as follows:

Elizabeth School of London Limited: A significant provider of higher and further education qualifications, operating multiple campuses in London, Leeds, Manchester, Birmingham and other key UK cities. The School speciali ses in business management programmes validated and franchised through partnerships wi th prestigious universities.

Victoria College of Arts and Design Limited: Focused on arts, design, and creative disciplines, the College enhances the Group's creative e ducation presence.

London Professional College Limited: Offers vocational and professional qualifications aimed at widening access to career-focused l earning in London.

Online Qualifications Ltd: Provides flexible, digitally delivered qualification programmes to support contemporary lear ning needs.

William College Limited

Quality Qualification Awards Limited

Transnational Education Limited

Zenith School of Studies

Uni Application Portal

Principal Activity and Business Model

Founded in 2022, Planet Education Networks (PEN) is dedicated to advancing knowledge and driving progress through education. We believe that lifelong learning empowers individuals and fosters positive societal impact. By nurturing intellectual growth and instilling a strong sense of responsibility, we aim to equip students to thrive personally and contribute meaningfully to their communities.

Mission and Core Values

We firmly believe that true success is not solely measured by academic achievements but by the tangible impact individuals make on the world around them. To this end, our educational programs are designed to go beyond traditional paradigms, emphasizing experiential learning, critical thinking, and problem-solving. By providing a rich and diverse educational environment, we aim to prepare our students not only for the challenges of today but for the uncertainties of tomorrow.

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Group Strategic Report

for the Year Ended 31 August 2024

Planet Education Networks (PEN) is guided by a clear set of core values that underpin its operations, strategic direction, and stakeholder engagement. These values reflect our long-term commitment to quality, integrity, and responsible global growth in the education sector:

1. Global Connectivity

We leverage education as a means of connecting individuals and communities across borders. Our initiatives promote international collaboration and enable students and partners to engage meaningfully in a globally interconnected environment.

2. Inclusivity

We are committed to providing equal access to educational opportunities. PEN actively works to reduce barriers and promote diversity, ensuring our services are accessible and inclusive, regardless of socio-economic background, geography, or personal circumstances.

3. Cultural Exchange

We recognise the importance of cross-cultural understanding in a globalised world. Through our educational programmes, we facilitate respectful cultural exchange and foster appreciation for diverse perspectives and traditions.

4. Innovation

PEN embraces continuous improvement in all aspects of its operations. We invest in research, technology, and innovative educational methodologies to respond effectively to the evolving needs of global learners and markets.

5. Sustainability

Sustainability is integral to our decision-making. We are committed to adopting environmentally and socially responsible practices across our operations, with the aim of creating long-term value for both society and the business.

6. Integrity

We conduct our activities with honesty, transparency, and accountability. Integrity is central to our governance and academic standards, and we expect the same from our partners, staff, and stakeholders.

7. Empowering Minds

Our educational approach is designed to foster critical thinking, creativity, and lifelong learning. We empower students to develop the skills and mindset necessary to succeed in a rapidly changing world and to contribute positively to their communities.

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Group Strategic Report

for the Year Ended 31 August 2024

Review of business

The Group delivered robust performance during the year, with turnover rising to £79.5 million (2023: £33.3 million). Gross profit increased to £62.6 million (2023: £31.0 million), driven by substantial growth in the Group's core education and recruitment services. Profit before tax improved to £25.3 million (2023: £15.4 million).

Significant investments were made in both tangible fixed assets and strategic acquisitions. Tangible assets increased to £30.9 million (2023: £14.9 million), while investment in acquisitions rose to £8.3 million (2023: £2.4 million), reflecting management's ongoing focus on long-term growth and market expansion.

The Group's net assets grew to £36.4 million (2023: £17.5 million), supported by a strong year-end cash position of £22.3 million (2023: £14.0 million), highlighting the Group's financial strength and liquidity.

Principal risks and uncertainties

The Group operates in a dynamic and competitive global education sector and is exposed to the following key risks:

Changes in regulations affecting student recruitment and visa policies.

Foreign exchange fluctuations due to international operations and tuition fee receipts.

Competitive pressures from well-established global education providers.

Operational challenges, including talent acquisition and maintaining high service standards.

To mitigate these risks, the Group actively monitors regulatory developments, diversifies its student recruitment markets, maintains conservative financial practices, and continues to invest in infrastructure and technological capabilities.

On behalf of the board:

C D Bell - Director

4 September 2025

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Report of the Directors

for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

Principal activity

The principal activity of the group in the year under review was that of Other Education.

Dividends

No dividends will be distributed for the year ended 31 August 2024.

The Group reported a profit for the financial year of £18.9 million (2023: £12.1 million). The directors have not recommended the payment of a dividend for the year ended 31 August 2024 (2023: £180,000).

Future developments

The Group remains focused on strategic growth and intends to:

Broaden its presence across Asia, the Middle East, and Africa.

Strengthen digital engagement platforms for international students.

Pursue additional acquisitions to enhance market share.

Continue investing in staff training and development to support ongoing expansion.

The directors are confident that, supported by a strong cash position and an increasing reputation in the international education sector, the Group is well-positioned for sustained growth in the coming years.

Directors

The directors who served during the year and up to the date of approval of this report were as follows:

Mr A A Faruki

Mr C D Bell

Mr M A Rahman (appointed 20 March 2024)

Mr M Ali (appointed 20 March 2024, resigned subsequent to the year-end)

Mr A S Green (resigned subsequent to the year-end)

Political donations and expenditure

No political donations were made during the year (2023: £nil). The Group continued its support for charitable and educational initiatives in alignment with its core mission and values.

Employees

The Group is committed to providing equal opportunities in employment and fostering a supportive and inclusive workplace. It actively invests in employee development and training to support both individual growth and organisational performance. Employee-related costs for the year totalled £21.8 million (2023: £9.1 million), reflecting the continued expansion of the Group's operations and associated staffing levels.

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Report of the Directors

for the Year Ended 31 August 2024

Statement of directors' responsibilities

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | state whether applicable 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors

The auditors, Andertons Europe Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

C D Bell - Director

4 September 2025

Report of the Independent Auditors to the Members of

PLANET EDUCATION NETWORKS LTD

Opinion

We have audited the financial statements of PLANET EDUCATION NETWORKS LTD (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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.

Report of the Independent Auditors to the Members of

PLANET EDUCATION NETWORKS LTD

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Corporate Governance Statement

We have reviewed the information presented in the separate Annual Governance Statement for consistency . We have no matters to report as a result of this work.

Report of the Independent Auditors to the Members of

PLANET EDUCATION NETWORKS LTD

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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 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 group's and the parent 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 group or the parent 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 a Report of the Auditors 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.

Audit response to risks identified :

We considered the extent of compliance with laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting, attention was drawn to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management overide of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether

judgements made in making accounting estimates gave rise to a possible indication of management bias. The review at the completion stage of the audit, included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity identify non- compliance with laws and regulations and fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

PLANET EDUCATION NETWORKS LTD

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 a Report of the Auditors 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.

Naresh Jani FCCA (Senior Statutory Auditor)

for and on behalf of Andertons Europe Ltd (Statutory Auditors)

1st Floor

156 Cromwell Road

London

SW7 4EF

4 September 2025

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Consolidated Income Statement

for the Year Ended 31 August 2024

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

| Notes | £ | £ |

Turnover | 79,520,782 |  | 33,280,438 |  |

Cost of sales | (16,874,177 | ) | (2,255,106 | ) |

Gross profit | 62,646,605 |  | 31,025,332 |  |

Administrative expenses | (37,222,274 | ) | (15,652,972 | ) |

25,424,331 |  | 15,372,360 |  |

Other operating income | 226,778 |  | 106,158 |  |

Operating profit | 4 | 25,651,109 |  | 15,478,518 |  |

Interest receivable and similar income | 206,690 |  | 73,581 |  |

25,857,799 |  | 15,552,099 |  |

Interest payable and similar expenses | 5 | (560,584 | ) | (126,898 | ) |

Profit before taxation | 25,297,215 |  | 15,425,201 |  |

Tax on profit | 6 | (6,381,842 | ) | (3,285,349 | ) |

Profit for the financial year | 18,915,373 |  | 12,139,852 |  |

Profit attributable to:

Owners of the parent | 18,915,373 |  | 12,139,852 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Consolidated Other Comprehensive Income

for the Year Ended 31 August 2024

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

| Notes | £ | £ |

Profit for the year | 18,915,373 |  | 12,139,852 |  |

Other comprehensive income | - |  | - |  |

Total comprehensive income for the year | 18,915,373 |  | 12,139,852 |  |

Total comprehensive income attributable to:

Owners of the parent | 18,915,373 |  | 12,139,852 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Consolidated Balance Sheet

31 August 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 9 | 443,551 |  | 423,228 |  |

Tangible assets | 10 | 30,882,597 |  | 14,928,864 |  |

Investments | 11 | 8,262,381 |  | 2,419,359 |  |

39,588,529 |  | 17,771,451 |  |

Current assets

Debtors | 12 | 5,001,426 |  | 2,103,162 |  |

Cash at bank and in hand | 22,302,618 |  | 14,028,509 |  |

27,304,044 |  | 16,131,671 |  |

Creditors

Amounts falling due within one year | 13 | 23,252,042 |  | 15,116,046 |  |

Net current assets | 4,052,002 |  | 1,015,625 |  |

Total assets less current liabilities | 43,640,531 |  | 18,787,076 |  |

Creditors

Amounts falling due after more than one year | 14 | (6,929,712 | ) | (1,304,706 | ) |

Provisions for liabilities | 16 | (333,566 | ) | (20,490 | ) |

Net assets | 36,377,253 |  | 17,461,880 |  |

Capital and reserves

Called up share capital | 17 | 100 |  | 100 |  |

Retained earnings | 18 | 36,377,153 |  | 17,461,780 |  |

Shareholders' funds | 36,377,253 |  | 17,461,880 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by:

C D Bell - Director

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Company Balance Sheet

31 August 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 6,748,411 |  | 5,802,776 |  |

Investments | 11 | 6,635,300 |  | 868,320 |  |

13,383,711 |  | 6,671,096 |  |

Current assets

Debtors | 12 | 22,251,714 |  | 5,058,295 |  |

Cash in hand | 15,252,930 |  | 10,573,602 |  |

37,504,644 |  | 15,631,897 |  |

Creditors

Amounts falling due within one year | 13 | 22,841,866 |  | 20,184,904 |  |

Net current assets/(liabilities) | 14,662,778 |  | (4,553,007 | ) |

Total assets less current liabilities | 28,046,489 |  | 2,118,089 |  |

Capital and reserves

Called up share capital | 17 | 100 |  | 100 |  |

Retained earnings | 18 | 28,046,389 |  | 2,117,989 |  |

Shareholders' funds | 28,046,489 |  | 2,118,089 |  |

Company's profit for the financial year | 25,928,400 |  | 2,117,989 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

C D Bell - Director

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Consolidated Statement of Changes in Equity

for the Year Ended 31 August 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 8 August 2022 | - |  | 5,501,928 |  | 5,501,928 |  |

Changes in equity

Issue of share capital | 100 |  | - |  | 100 |  |

Dividends | - |  | (180,000 | ) | (180,000 | ) |

Total comprehensive income | - |  | 12,139,852 |  | 12,139,852 |  |

Balance at 31 August 2023 | 100 |  | 17,461,780 |  | 17,461,880 |  |

Changes in equity

Total comprehensive income | - |  | 18,915,373 |  | 18,915,373 |  |

Balance at 31 August 2024 | 100 |  | 36,377,153 |  | 36,377,253 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Company Statement of Changes in Equity

for the Year Ended 31 August 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 100 |  | - |  | 100 |  |

Total comprehensive income | - |  | 2,117,989 |  | 2,117,989 |  |

Balance at 31 August 2023 | 100 |  | 2,117,989 |  | 2,118,089 |  |

Changes in equity

Total comprehensive income | - |  | 25,928,400 |  | 25,928,400 |  |

Balance at 31 August 2024 | 100 |  | 28,046,389 |  | 28,046,489 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Consolidated Cash Flow Statement

for the Year Ended 31 August 2024

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 28,937,612 |  | 26,120,252 |  |

Interest paid | (560,584 | ) | (126,898 | ) |

Tax paid | (2,587,905 | ) | (434,366 | ) |

- |  | (58,609 | ) |

Net cash from operating activities | 25,789,123 |  | 25,500,379 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (33,000 | ) | (26,603 | ) |

Purchase of tangible fixed assets | (19,175,627 | ) | (11,474,295 | ) |

Purchase of fixed asset investments | (6,300,930 | ) | (2,934,865 | ) |

Sale of tangible fixed assets | 1,905,499 |  | - |  |

Sale of fixed asset investments | 457,908 |  | 1,765,506 |  |

Interest received | 206,690 |  | 73,581 |  |

Net cash from investing activities | (22,939,460 | ) | (12,596,676 | ) |

Cash flows from financing activities

New loans in year | 5,625,006 |  | - |  |

Amount withdrawn by directors | (200,560 | ) | 1,304,706 |  |

Share issue | - |  | 100 |  |

Equity dividends paid | - |  | (180,000 | ) |

Net cash from financing activities | 5,424,446 |  | 1,124,806 |  |

Increase in cash and cash equivalents | 8,274,109 |  | 14,028,509 |  |

Cash and cash equivalents at beginning of year | 2 | 14,028,509 |  | - |  |

Cash and cash equivalents at end of year | 2 | 22,302,618 |  | 14,028,509 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 August 2024

1. | Reconciliation of profit before taxation to cash generated from operations

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Profit before taxation | 25,297,215 |  | 15,425,201 |  |

| Depreciation charges | 1,317,944 |  | 492,944 |  |

| Loss on disposal of fixed assets | 11,128 |  | - |  |

| Finance costs | 560,584 |  | 126,898 |  |

| Finance income | (206,690 | ) | (73,581 | ) |

26,980,181 |  | 15,971,462 |  |

| Increase in trade and other debtors | (3,279,410 | ) | (2,103,162 | ) |

| Increase in trade and other creditors | 5,236,841 |  | 12,251,952 |  |

| Cash generated from operations | 28,937,612 |  | 26,120,252 |  |

2. | Cash and cash equivalents

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 August 2024

| 31.8.24 |  | 1.9.23

£ | £ |

| Cash and cash equivalents | 22,302,618 |  | 14,028,509 |  |

| Period ended 31 August 2023

| 31.8.23 |  | 8.8.22

£ | £ |

| Cash and cash equivalents | 14,028,509 |  | - |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 August 2024

3. | Analysis of changes in net funds

| At 1.9.23 | Cash flow | At 31.8.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 14,028,509 |  | 8,274,109 |  | 22,302,618 |  |

14,028,509 |  | 8,274,109 |  | 22,302,618 |  |

| Debt

| Debts falling due within 1 year | (179,430 | ) | (551,049 | ) | (730,479 | ) |

| Debts falling due after 1 year | (1,304,706 | ) | (5,625,006 | ) | (6,929,712 | ) |

(1,484,136 | ) | (6,176,055 | ) | (7,660,191 | ) |

| Total | 12,544,373 |  | 2,098,054 |  | 14,642,427 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements

for the Year Ended 31 August 2024

1. | Statutory information

| PLANET EDUCATION NETWORKS LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | Accounting policies

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Related party exemption

| 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software is being amortised evenly over its estimated useful life of nil years.

| Tangible fixed assets

| Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life.

| The principle rates in use are :

| Motor vehicles 25% on reducing balance

| Buildings 2% on reducing balance

| Leasehold property 2% on reducing balance

| Fixtures & fittings 25% on reducing balance

| Software 25% on reducing balance

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

2. | Accounting policies - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. | Employees and directors

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Wages and salaries | 19,642,562 |  | 8,237,989 |  |

| Social security costs | 1,869,141 |  | 725,882 |  |

| Other pension costs | 334,759 |  | 120,643 |  |

21,846,462 |  | 9,084,514 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

3. | Employees and directors - continued

| The average number of employees during the year was as follows:

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

| Academic | 361 |  | 95 |  |

| Accounts | 7 |  | 5 |  |

| Administration | 58 |  | 28 |  |

| HR | 17 |  | 4 |  |

| IT | 19 |  | 9 |  |

| Marketing | 47 |  | 16 |  |

| Student Support | 152 |  | 46 |  |

661 |  | 203 |  |

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Directors' remuneration | 312,222 |  | 60,622 |  |

| Information regarding the highest paid director for the year ended 31 August 2024 is as follows:

| Year ended |

| 31.8.24 |

£ |  |

| Emoluments etc | 124,583 |  |

4. | Operating profit

| The operating profit is stated after charging:

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Hire of plant and machinery | 166,919 |  | 31,070 |  |

| Other operating leases | 339,851 |  | - |  |

| Depreciation - owned assets | 1,305,267 |  | 485,652 |  |

| Loss on disposal of fixed assets | 11,128 |  | - |  |

| Computer software amortisation | 12,677 |  | 7,292 |  |

| Auditors' remuneration | 51,367 |  | 45,000 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

5. | Interest payable and similar expenses |

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Bank loan interest | 409,100 |  | 99,676 |  |

| Interest payable | 41,844 |  | 3 |  |

| Other Interest | 109,640 |  | 27,219 |  |

560,584 |  | 126,898 |  |

6. | Taxation

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Current tax:

| UK corporation tax | 6,068,766 |  | 3,298,460 |  |

| Deferred tax | 313,076 |  | (13,111 | ) |

| Tax on profit | 6,381,842 |  | 3,285,349 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

6. | Taxation - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Profit before tax | 25,297,215 |  | 15,425,201 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 21.285 %) | 6,324,304 |  | 3,283,254 |  |

| Effects of:

| Expenses not deductible for tax purposes | 96 |  | - |  |

| Capital allowances in excess of depreciation | (258,481 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 15,464 |  |

| Utilisation of tax losses | 65 |  | (258 | ) |

| gain on sale of fixed assets | 2,782 |  | - |  |

| deferred tax | 313,076 |  | (13,111 | ) |

| Total tax charge | 6,381,842 |  | 3,285,349 |  |

7. | Individual income statement

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8. | Dividends

| Period

| 8.8.22

| Year ended |  | to

| 31.8.24 |  | 31.8.23

£ | £ |

| Ordinary shares of £ 1.00 each

| Final | - |  | 180,000 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

9. | Intangible fixed assets

| Group

| Computer |

| Goodwill |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 September 2023 | 405,520 |  | 25,000 |  | 430,520 |  |

| Additions | - |  | 33,000 |  | 33,000 |  |

| At 31 August 2024 | 405,520 |  | 58,000 |  | 463,520 |  |

| AMORTISATION

| At 1 September 2023 | - |  | 7,292 |  | 7,292 |  |

| Amortisation for year | - |  | 12,677 |  | 12,677 |  |

| At 31 August 2024 | - |  | 19,969 |  | 19,969 |  |

| NET BOOK VALUE

| At 31 August 2024 | 405,520 |  | 38,031 |  | 443,551 |  |

| At 31 August 2023 | 405,520 |  | 17,708 |  | 423,228 |  |

10. | Tangible fixed assets

| Group

| Freehold |  | Short |  | Long |  | Plant and

| property |  | leasehold |  | leasehold |  | machinery

£ | £ | £ | £ |

| COST

| At 1 September 2023 | 13,867,946 |  | - |  | 443,344 |  | 43,330 |  |

| Additions | 12,435,102 |  | 4,188,682 |  | - |  | - |  |

| Disposals | (1,885,529 | ) | - |  | - |  | - |  |

| At 31 August 2024 | 24,417,519 |  | 4,188,682 |  | 443,344 |  | 43,330 |  |

| DEPRECIATION

| At 1 September 2023 | 181,991 |  | - |  | 2,328 |  | 32,171 |  |

| Charge for year | 242,003 |  | 231,132 |  | 2,827 |  | 2,667 |  |

| Eliminated on disposal | (20,427 | ) | - |  | - |  | - |  |

| At 31 August 2024 | 403,567 |  | 231,132 |  | 5,155 |  | 34,838 |  |

| NET BOOK VALUE

| At 31 August 2024 | 24,013,952 |  | 3,957,550 |  | 438,189 |  | 8,492 |  |

| At 31 August 2023 | 13,685,955 |  | - |  | 441,016 |  | 11,159 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

10. | Tangible fixed assets - continued

| Group

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 September 2023 | 1,130,598 |  | 111,489 |  | - |  | 15,596,707 |  |

| Additions | 1,857,035 |  | 196,162 |  | 498,646 |  | 19,175,627 |  |

| Disposals | - |  | (96,989 | ) | - |  | (1,982,518 | ) |

| At 31 August 2024 | 2,987,633 |  | 210,662 |  | 498,646 |  | 32,789,816 |  |

| DEPRECIATION

| At 1 September 2023 | 401,660 |  | 49,693 |  | - |  | 667,843 |  |

| Charge for year | 650,369 |  | 51,608 |  | 124,661 |  | 1,305,267 |  |

| Eliminated on disposal | - |  | (45,464 | ) | - |  | (65,891 | ) |

| At 31 August 2024 | 1,052,029 |  | 55,837 |  | 124,661 |  | 1,907,219 |  |

| NET BOOK VALUE

| At 31 August 2024 | 1,935,604 |  | 154,825 |  | 373,985 |  | 30,882,597 |  |

| At 31 August 2023 | 728,938 |  | 61,796 |  | - |  | 14,928,864 |  |

| Company

| Fixtures |

| Freehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 September 2023 | 5,866,328 |  | - |  | - |  | 5,866,328 |  |

| Additions | 2,712,605 |  | 23,351 |  | 196,162 |  | 2,932,118 |  |

| Disposals | (1,885,529 | ) | - |  | - |  | (1,885,529 | ) |

| At 31 August 2024 | 6,693,404 |  | 23,351 |  | 196,162 |  | 6,912,917 |  |

| DEPRECIATION

| At 1 September 2023 | 63,552 |  | - |  | - |  | 63,552 |  |

| Charge for year | 66,503 |  | 5,838 |  | 49,040 |  | 121,381 |  |

| Eliminated on disposal | (20,427 | ) | - |  | - |  | (20,427 | ) |

| At 31 August 2024 | 109,628 |  | 5,838 |  | 49,040 |  | 164,506 |  |

| NET BOOK VALUE

| At 31 August 2024 | 6,583,776 |  | 17,513 |  | 147,122 |  | 6,748,411 |  |

| At 31 August 2023 | 5,802,776 |  | - |  | - |  | 5,802,776 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

11. | Fixed asset investments

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Shares in group undertakings | - |  | - |  | 870,320 |  | 868,320 |  |

| Other investments not loans | 8,262,381 |  | 2,419,359 |  | 5,764,980 |  | - |  |

8,262,381 |  | 2,419,359 |  | 6,635,300 |  | 868,320 |  |

| Additional information is as follows:

| Group

| Unlisted

| investments

£ |

| COST

| Additions | 5,764,980 |  |

| At 31 August 2024 | 5,764,980 |  |

| NET BOOK VALUE

| At 31 August 2024 | 5,764,980 |  |

| Investments (neither listed nor unlisted) were as follows:

2024 | 2023 |

£ | £ |

| Investments b/fwd | 2,419,359 |  | 2,877,267 |  |

| Additions | 78,042 |  | 57,598 |  |

| Disposals | - |  | (515,506 | ) |

2,497,401 |  | 2,419,359 |  |

| Company

| Shares in |

| group |  | Unlisted |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| COST

| At 1 September 2023 | 868,320 |  | - |  | 868,320 |  |

| Additions | 2,000 |  | 5,764,980 |  | 5,766,980 |  |

| At 31 August 2024 | 870,320 |  | 5,764,980 |  | 6,635,300 |  |

| NET BOOK VALUE

| At 31 August 2024 | 870,320 |  | 5,764,980 |  | 6,635,300 |  |

| At 31 August 2023 | 868,320 |  | - |  | 868,320 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

12. | Debtors: amounts falling due within one year |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Trade debtors | 1,395,504 |  | 110,923 |  | 8,682,550 |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 13,304,022 |  | 5,057,332 |  |

| Other debtors | 2,100,684 |  | 810,328 |  | 98,915 |  | 963 |  |

| VAT | 44,582 |  | - |  | - |  | - |  |

| Deferred tax asset | - |  | - |  | 4,939 |  | - |  |

| Prepayments and accrued income | 1,460,656 |  | 1,181,911 |  | 161,288 |  | - |  |

5,001,426 |  | 2,103,162 |  | 22,251,714 |  | 5,058,295 |  |

13. | Creditors: amounts falling due within one year |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 15) | 730,479 |  | 179,430 |  | - |  | - |  |

| Trade creditors | 3,616,722 |  | 2,211,981 |  | 529,336 |  | 1,210 |  |

| Amounts owed to group undertakings | - |  | - |  | 17,180,188 |  | 17,538,000 |  |

| Tax | 6,344,955 |  | 2,864,094 |  | 1,000,007 |  | 592,541 |  |

| Social security and other taxes | 604,888 |  | 747,707 |  | 97,955 |  | 16,454 |  |

| Other creditors | 4,516,447 |  | 1,139,661 |  | 290,855 |  | 41,229 |  |

| Directors' current accounts | 703,591 |  | 904,151 |  | 513,900 |  | 863,900 |  |

| Accruals and deferred income | 6,734,960 |  | 7,069,022 |  | 3,229,625 |  | 1,131,570 |  |

23,252,042 |  | 15,116,046 |  | 22,841,866 |  | 20,184,904 |  |

14. | Creditors: amounts falling due after more than one year |

| Group |

2024 | 2023 |

£ | £ |

| Bank loans (see note 15) | 6,929,712 |  | 1,304,706 |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

15. | Loans

| An analysis of the maturity of loans is given below:

| Group |

2024 | 2023 |

£ | £ |

| Amounts falling due within one year | or on demand: |

| Bank loans | 730,479 |  | 179,430 |  |

| Amounts falling due between one | and two years: |

| Bank loans - 1-2 years | 730,479 |  | 179,451 |  |

| Amounts falling due between two | and five years: |

| Bank loans - 2-5 years | 2,191,438 |  | 538,352 |  |

| Amounts falling due in more than | five years: |

| Repayable by instalments

| Bank loans more 5 yr by instal | 4,007,795 |  | 586,903 |  |

16. | Provisions for liabilities

| Group |

2024 | 2023 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 333,566 |  | 20,490 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 September 2023 | 20,490 |  |

| Provided during year | 313,076 |  |

| Balance at 31 August 2024 | 333,566 |  |

| Company

| Deferred |

| tax |

£ |

| Credit to Income Statement during year | (4,939 | ) |

| Balance at 31 August 2024 | (4,939 | ) |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

17. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary | £ 1.0 | 0 | 100 |  | 100 |  |

18. | Reserves

| Group

| Retained

| earnings

£ |

| At 1 September 2023 | 17,461,780 |  |

| Profit for the year | 18,915,373 |  |

| At 31 August 2024 | 36,377,153 |  |

| Company

| Retained

| earnings

£ |

| At 1 September 2023 | 2,117,989 |  |

| Profit for the year | 25,928,400 |  |

| At 31 August 2024 | 28,046,389 |  |

19. | Capital commitments

|  | 31 August 2024 |  | 31 August 2023 |  |

| £ |  | £ |  |

| Operating leases which expire : |  |

| Within one year |  | - |  | 1,608,111 |  |

| Between two to five years |  | 809,838 |  | 1,931,511 |  |

| More than five years |  | 8,568,647 |  | 928,488 |  |

|  | ------------------ |  | ------------- |  |

|  | 9,378,485 |  | 4,468,110 |  |

|  | ========= |  | ======= |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

20. | Related party disclosures

| Loans from related companies are as follows :

|  | 31.08.2024 |  | 31.08.2023 |  |

| £ |  | £ |  |

| Biryani Ltd |  | 175,625 |  | 50,129 |  |

| Jobhunger Limited |  | 150,000 |  | 81,431 |  |

| Wonderful Night Investment Company Ltd |  | 256,500 |  | 996,510 |  |

| Stronger Together Investment Company Ltd |  | 3,017,440 |  | - |  |

| The above relates to services provided by the above companies.

| Loans to related companies are as follows :

|  | 31.08.2024 |  | 31.08.2023 |  |

| £ |  | £ |  |

| Biryani LTD |  | 1,250 |  | - |  |

| Wonderful Night Investment Company Ltd |  | 17,500 |  | - |  |

| Stronger Together Investment Company Ltd |  | 2,632,400 |  | - |  |

PLANET EDUCATION NETWORKS LTD (Registered number: 14282467)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 August 2024

21. | Subsidiaries

| Details of the company's subsidiary undertakings over which it has control at 31 August

| 2024 are as follows:

| Name |  | Nature of % holding of business ordinary shares |  |  |

| Elizabeth School of London Limited |  | Education |  | 100% |  |

| London Professional College Ltd |  | Education |  | 100% |  |

| Online Qualifications Ltd |  | Education |  | 100% |  |

| Uni Application Ltd |  | Education |  | 100% |  |

| Victoria College of Arts & Design Ltd |  | Education |  | 100% |  |

| William College Ltd |  | Education |  | 100% |  |

| Zenith School of Studies Ltd |  | Education |  | 100% |  |

| Transnational Education Ltd |  | Education |  | 100% |  |

| Quality Qualifications Awards Ltd |  | Education |  | 100% |  |

| They are incorporated in England and Wales.

| They are included in the consolidated accounts.

| The net assets at 31 August 2024 and profit/(loss) before tax for the year ended 31 August 2024 of Elizabeth School of London Ltd are £ 1,104,641 (2023: £ 12,256,361) and £ 15,851,347 (2023 : £ 5,052,300) respectively, Educateu Ltd are £ 145,487 (2023: £ 75,328) and £ 93,545 (2023: £ 96,294) respectively, Uni Application Portal Ltd are £ 298,856 (2023: £ 167,343) and £ 175,351 (2023; £ 213,774) respectively, William College Ltd are £ 875,318 (2023: £ 314,331) and £ 800,932 (2023: £ 402,128) respectively, Zenith Academy of Healthcare Studies Ltd are £ 4,914,043 (2023:£ 2,556,175) and £ 3,146,176 (2023: £ 2,956,741) respectively, London Professional College Ltd are £ 343,480

| (2023: £ 208,035) and £ 181,394 (2023: £ 293,832) respectively, Victoria College of Arts & Design Ltd are £ 1,111,999 (2023: £ 229,118) and £ 1,125,262 (2023: £ 247,505 ) respectively. Quality Qualifications Awards Ltd £ 860 (2023: £ Nil) and £ (140) (2023: £ Nil) respectively, Transnational Education Ltd £ 880 ( 2023: £ Nil) and £ (120) (2023: £ Nil) respectively.