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Registered Number:02367892













ANGLIA RUSKIN ENTERPRISE LTD






FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025











 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
COMPANY INFORMATION


Directors
S D Powell 
P W Bogle 
J Rolfe 
Y A Barnett 
F F Craig 
A N Massoura (appointed 30 September 2024)




Company secretary
P W Bogle



Registered number
02367892



Registered office
Bishop Hall Lane

Chelmsford

Essex

CM1 1SQ




Independent auditor
Sumer Auditco Limited

820 The Crescent

Colchester Business Park

Colchester

Essex

CO4 9YQ




Bankers
Barclays Bank PLC
40/41 High Street

Chelmsford

Essex

CM1 1BE




Solicitors
Mills and Reeve
Botanic House

98-100 Hills Road

Cambridge

CB2 1PH






 
ANGLIA RUSKIN ENTERPRISE LTD
 


CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditor's Report
5 - 8
Statement of Comprehensive Income
9
Balance Sheet
10
Statement of Changes in Equity
11
Notes to the Financial Statements
12 - 20


 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025

Business review
 
Anglia Ruskin Enterprise (ARE) have returned a surplus of £500.3k against budget of £179.8k, giving a favourable variance of £320.3k.  
It should be noted that in addition to the above, gift aid payments of £857.3k were made from ARE to ARU in the year. 
Below is a breakdown by section, explaining each activity in more detail: -

Faculties

While each of the four faculties has delivered various projects within ARE, the Faculty of Science & Engineering continues to be the one with most significant activity.  The current ongoing income streams are:

Paediatric Ophthalmology services
University Optometry Clinic and related services
Community Cataract Pre-assessment and post-operative follow-up
Salivary Assay Consultancy carried out within our Biomarker lab in Cambridge

Within Faculty of Business & Law training related to West Essex Third Sector projects aimed to upskill individuals to improve services in their roles generated their income.   
The Faculty of Arts, Humanities, Education & Social Sciences have delivered summer school programmes through the Cambridge School of Arts and have also generated income through a review of Chaplaincy Services. 
The Faculty of Health & Medical Sciences have provided consultancy service relating to the development of a new specialist qualification in continuing healthcare on behalf of a third party.

ARU Temps
 
ARU Temps remains an integral part of our university’s employability strategy, providing paid work experience and permanent graduate opportunities to ARU students across Chelmsford, Cambridge, Peterborough, and Writtle. The service continues to enable students to find flexible work that fits around their studies, supports their financial wellbeing, and equips them with valuable real-world experience to prepare them for successful careers after university.
In 2024–25, ARU Temps generated income of £4,010.8k, a slight decrease of £202.4k compared to the prior year’s income of £4,213.2k.  The service delivered a surplus of £194.7k, which was £38.8k favourable to budget. While this surplus is lower than the £306.5k achieved in 2023–24, it still reflects strong financial performance despite the reduction of the ARU Temps pricing model implemented at the start of the financial year. This adjustment was made to ensure ARU Temps remains competitive in the market, while still prioritising value and opportunity for our students.


- 1 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025

Arise

Arise Chelmsford ended the year with a surplus of £44.9k compared with a £2.4k deficit in 2023-24.  Income was £62.2k adverse to budget, but this is compensated for by an equal and opposite saving in staff costs. Expenditure was £107.1k favourable to budget mainly due to savings on staff costs, business rates and advertising.
Arise Harlow ended the year with a surplus of £105.1k, an improvement on the 2023-24 deficit of £15.8k. Income exceeded budget by £59k, mainly due to increased rental income driven by improved occupancy. Expenditure was £46k favourable to budget, because of staff cost savings, reduced business rates due to increased occupancy, and reduced advertising costs.

Corporate

Corporate activity is £64.5k favourable against budget.  This variance has arisen due to FIBCA interest of £86k received linked to the increase interest rate, offset an increase in the holiday pay accrual of £18k, and interest of £6k linked to a late payment charge. 
Note that there was a distribution of £857k relating to gift aid payments from ARE to ARU. 

Results and dividends

The profit for the year, after taxation, but before gift aid, amounted to £500,304 (2024 - £455,562).
The directors have not recommended a dividend.

Principal risks and uncertainties

The risks to the Company are considered to be modest due to the diversity of the Company's activities and the activity with fellow members of the Anglia Ruskin University group. The directors intend to continue with the diverse activities to assist with the commercial development of certain University undertakings.

Future developments and post Balance Sheet events

The Company continues its focus on increasing its educational and consultancy activities; notably Paediatic Ophthalmology Service (ACPOS) in conjuction with Addenbrookes Hospital in Cambridge, Salivary Analysis Consultancy and Optometry Clinic.
There are no post Balance Sheet events to note.


This report was approved by the board and signed on its behalf.



P W Bogle
Director

Date: 8 December 2025

- 2 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025

The directors present their report and the financial statements for the year ended 31 July 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

S D Powell 
P W Bogle 
J Rolfe 
Y A Barnett 
F F Craig 
A N Massoura (appointed 30 September 2024)

Employee involvement

The company has continued its practice of keeping employees informed of matters affecting them as employees and the financial and economic factors affecting the performance of the company.

Disabled employees

Applications for employment by disabled persons are given full and fair consideration for all vacancies in accordance with their particular aptitudes and abilities. In the event of an employee becoming disabled, every effort is given to retrain them in order that their employment with the company may continue. It is the policy of the company that training, career development and promotion opportunities should be available to all employees.


- 3 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025

Matters covered in the Strategic Report

Information in respect of future developments is disclosed in the Strategic Report as it is considered to be of strategic importance.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Directors indemnity

Throughout the year there was an indemnity insurance policy in place covering the indemnity of the directors of the company. 

Auditor

The auditor, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





P W Bogle
Director

Date: 8 December 2025

- 4 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANGLIA RUSKIN ENTERPRISE LTD

Opinion


We have audited the financial statements of Anglia Ruskin Enterprise Ltd (the 'Company') for the year ended 31 July 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 31 July 2025 and of its 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 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 United Kingdom, including the Financial Reporting Council'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.



- 5 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANGLIA RUSKIN ENTERPRISE LTD (CONTINUED)

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 ReportOur 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.


Opinion 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; or
we have not received all the information and explanations we require for our audit.

- 6 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANGLIA RUSKIN ENTERPRISE LTD (CONTINUED)

Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


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:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors (as required by auditing standards), inspection of the companies regulatory and legal correspondence and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
The following laws and regulations were identified as being of significance to the Company:
Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosure in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: the Health and Safety at Work etc Act 1974, safeguarding (the Care Act 2014), employment law, GDPR and specific accreditations required for courses. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.

 



- 7 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANGLIA RUSKIN ENTERPRISE LTD (CONTINUED)

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the company complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of relevant legal documentation, review of board minutes, testing the appropriateness of journal entries and the performance of analytical review to identify any unexpected movements in account balances which may be indicative of fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).


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 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 2006Our 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.





Piers Harrison (Senior Statutory Auditor)
  
for and on behalf of
Sumer Auditco Limited
 
Statutory Auditor
  
820 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ

12 December 2025

- 8 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2025

2025
2024
Note
£
£

  

Turnover
 4 
5,074,274
5,284,419

Gross profit
  
5,074,274
5,284,419

Distribution costs
  
(4,294,865)
(4,438,183)

Administrative expenses
  
(331,529)
(481,728)

Operating profit
  
447,880
364,508

Interest receivable and similar income
 7 
85,746
131,713

Interest payable and similar expenses
 8 
(33,322)
(40,659)

Profit before tax
  
500,304
455,562

Profit for the financial year
  
500,304
455,562

There was no other comprehensive income for 2025 (2024: £NIL).
All amounts relate to continuing activities.

The notes on pages 12 to 20 form part of these financial statements.

- 9 -



 
ANGLIA RUSKIN ENTERPRISE LTD
REGISTERED NUMBER:02367892


BALANCE SHEET
AS AT 31 JULY 2025

2025
2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 10 
9,523,583
10,446,890

Bank and cash balances
  
2,214,892
2,027,904

  
11,738,475
12,474,794

Creditors: amounts falling due within one year
 11 
(698,243)
(814,734)

Net current assets
  
 
 
11,040,232
 
 
11,660,060

Total assets less current liabilities
  
11,040,232
11,660,060

Creditors: amounts falling due after more than one year
 12 
(739,472)
(1,002,281)

  

Net assets
  
10,300,760
10,657,779


Capital and reserves
  

Called up share capital 
 13 
10,000,100
10,000,100

Profit and loss account
  
300,660
657,679

  
10,300,760
10,657,779


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P W Bogle
S D Powell
Director
Director


Date: 8 December 2025
Date:8 December 2025

The notes on pages 12 to 20 form part of these financial statements.

- 10 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2023
10,000,100
1,008,274
11,008,374


Comprehensive income for the year

Profit for the year
-
455,562
455,562

Gift aid paid
-
(806,157)
(806,157)



At 1 August 2024
10,000,100
657,679
10,657,779


Comprehensive income for the year

Profit for the year
-
500,304
500,304

Gift aid paid
-
(857,323)
(857,323)


At 31 July 2025
10,000,100
300,660
10,300,760


The notes on pages 12 to 20 form part of these financial statements.

- 11 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

1.


General information

Anglia Ruskin Enterprise Limited is a private company limited by shares incorporated in England and Wales, registration number 02367892. The registered office is Bishop Hall Lane, Chelmsford, Essex CM1 1SQ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pounds sterling rounded to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Anglia Ruskin University Higher Education Corporation as at 31 July 2025 and these financial statements may be obtained from Anglia Ruskin University, Rivermead Gate, Bishop Hall Lane, Chelmsford, Essex, CM1 1SQ.


- 12 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

  
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. 
The contributions are recognised as an expense in the profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


- 13 -



 
ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

  
2.8

Current and deferred taxation

The company does not provide for deferred taxation on short-term timing differences on the basis that the company plans to continue to gift aid any taxable profits to its parent undertaking for the foreseeable future. Taxable profits are therefore not anticipated to arise.
The company has an agreement with other subsidiaries of Anglia Ruskin University whereby tax losses are transferred between subsidiaries at varying rates for each £1 of gross tax loss surrendered or claimed.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 

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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities. Two such areas are determining whether provisions are required against stocks or debtors. The estimates and assumptions are based on experience and other factors that are considered to be relevant.
Recoverability of debtors
Amounts receivable from customers are assessed by management individually on a regular basis, to determine whether they are recoverable or a provision is required. Any debtors for which a provision is deemed necessary, are provided for in full.


4.


Turnover

An analysis of turnover by class of business is as follows:


2025
2024
£
£

Agency staff
4,010,846
4,213,188

Other
1,063,428
1,071,231

5,074,274
5,284,419


All turnover arose within the United Kingdom.


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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

5.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2025
2024
£
£

Fees payable to the Company's auditor and its associates for the audit of the Company's financial statements
8,500
8,500


6.


Employees

Staff costs were as follows:


2025
2024
£
£

Wages and salaries
3,145,042
3,252,182

Social security costs
187,369
147,177

Cost of defined contribution scheme
33,792
27,654

Staff bought in from Anglia Ruskin University
928,662
1,011,170

4,294,865
4,438,183


The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Administrative staff
665
620

During the year, no director received any emoluments (2024 - £NIL).


7.


Interest receivable

2025
2024
£
£


Other interest receivable
85,746
131,713


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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

8.


Interest payable and similar expenses

2025
2024
£
£


Other loan interest payable
33,322
40,659


9.


Taxation


2025
2024
£
£



Total current tax
-
-

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
500,304
455,562


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
125,076
113,891

Effects of:


Adjustments to tax charge in respect of prior periods
-
(27,334)

Tax losses received from group companies / gift aid payable
(125,076)
(86,557)

Total tax charge for the year
-
-


10.


Debtors

2025
2024
£
£


Trade debtors
164,829
114,933

Amounts owed by group undertakings
9,312,472
10,307,772

Other debtors
46,282
24,185

9,523,583
10,446,890



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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

11.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other loans
262,808
255,253

Trade creditors
-
40,121

Other taxation and social security
159,429
133,216

Other creditors
276,006
386,144

698,243
814,734



12.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
739,472
1,002,281


Included within other loans is a loan from ARU in respect of Harlow MedBic on which interest is payable at a rate of 2.92% per annum. Within the amount of £739,472 (2024 - £1,002,281), the amount falling due within 1-2 years is £270,585 (2024 - £262,808) and within 2-5 years is £468,887 (2024 - £739,473).


13.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



10,000,100 (2024 - 10,000,100) Ordinary shares of £1.00 each
10,000,100
10,000,100



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £165,169 (2024 - £130,540). Contributions totalling £12,858 (2024 - £12,674) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

The company has taken advantage of the exemption available to wholly owned subsidiaries in relation to the disclosure of material transactions with members of Anglia Ruskin University Higher Education Corporation Group. There are no other related party transactions.


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ANGLIA RUSKIN ENTERPRISE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

16.


Controlling party

The Directors regard Anglia Ruskin University, a statutory corporation created by the exercise of the powers conferred on the Secretary of State by the Education Reform Act 1988 and amended by the 1992 Act, as the ultimate parent body. According to the register kept by the Company, Anglia Ruskin University holds 10,000,100 ordinary shares of Anglia Ruskin Enterprise Ltd at 31 July 2025. Copies of the Parent's consolidated financial statements may be obtained from the Finance Director, Anglia Ruskin University, Rivermead Gate, Bishop Hall Lane, Chelmsford, Essex, CM1 1SQ.

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