REGISTERED NUMBER: 11853265 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Kingsley Education Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C L Bickford-Smith

REGISTERED OFFICE:

Kingsley School

Northdown Road

Bideford

Devon

EX39 3LY

REGISTERED NUMBER:

11853265 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

386,614

290,365

Investments

6

2

2

386,616

290,367

CURRENT ASSETS

Stocks

16,843

11,452

Debtors: amounts falling due within one year

7

1,532,993

1,451,326

Cash at bank

138,240

907,429

1,688,076

2,370,207

CREDITORS

Amounts falling due within one year

8

1,973,384

1,782,045

NET CURRENT (LIABILITIES)/ASSETS

(285,308

)

588,162

TOTAL ASSETS LESS CURRENT LIABILITIES

101,308

878,529

CREDITORS

Amounts falling due after more than one year

9

5,616,659

5,803,737

NET LIABILITIES

(5,515,351

)

(4,925,208

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(5,515,352

)

(4,925,209

)

SHAREHOLDERS' FUNDS

(5,515,351

)

(4,925,208

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2025 and were signed by:

C L Bickford-Smith - Director

1.	STATUTORY INFORMATION

Kingsley Education Limited 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

As at 31 August 2025, the Company had net liabilities of £5.52m, the majority of which relates to a long-term loan from its UK parent company, KSI Education Ltd (KSI). KSI has confirmed that it will not seek repayment of this loan until the Company is in a financial position to do so. Following a review of the Company's cash flow forecasts, the director consider that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

Preparation of financial statements as individual company

The financial statements contain information about Kingsley Education Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

School fees and other educational income receivable are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances and other remissions allowed by the company. Other educational income consists of extras, optional subjects and ancillaries charged to pupils. Turnover is stated exclusive of VAT and discounts.

Scholarship and bursary awards are included as expenditure in the period for which they are given. Scholarships, bursaries and allowances towards school fees are treated as a reduction in the fees.

Other income comprises those income generated outside of the ordinary education activities.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill is considered to have a finite useful life and is amortised on a straight line basis at 20% each year over its expected life, which is 5 years, based upon the assumption that 5 years is deemed sufficient time for Kingsley Education Limited to establish its own reputation and by which time it will no longer be relying on the reputation and association of Kingsley School Bideford with the previous owners (Methodist independent Schools Trust).

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets, other than land, less their residual values over their useful lives on the following basis:

Fixture and fittings

20% on cost

Computer equipment

33.3% on cost

Motor vehicles

20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the statement of comprehensive income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Pension costs and other post-retirement benefits

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

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period in which these are incurred.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Interest expenses

Interest expense is recognised using effective interest rate method. In calculating interest expense, the effective interest rate is applied to the amortised cost of the liability for interest expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 175 (2024 - 179 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

1,178,879

AMORTISATION

At 1 September 2024

and 31 August 2025

1,178,879

NET BOOK VALUE

At 31 August 2025

-

At 31 August 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2024

766,810

255,812

270,836

1,293,458

Additions

267,125

-

7,525

274,650

Disposals

-

(11,400

)

-

(11,400

)

Reclassification/transfer

(23,219

)

(11,596

)

(3,452

)

(38,267

)

At 31 August 2025

1,010,716

232,816

274,909

1,518,441

DEPRECIATION

At 1 September 2024

586,225

176,458

240,410

1,003,093

Charge for year

95,133

14,432

22,467

132,032

Eliminated on disposal

-

(11,400

)

-

(11,400

)

Reclassification/transfer

4,644

2,319

1,139

8,102

At 31 August 2025

686,002

181,809

264,016

1,131,827

NET BOOK VALUE

At 31 August 2025

324,714

51,007

10,893

386,614

At 31 August 2024

180,585

79,354

30,426

290,365

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

2

NET BOOK VALUE

At 31 August 2025

2

At 31 August 2024

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Kingsley School Bideford Enterprises Limited

Registered office: Kingsley School, Northdown Road, Bideford, Devon, EX39 3LY

Nature of business: Educational support services

%

Class of shares:

holding

ordinary shares

100.00

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

221,198

112,325

Amounts owed by group undertakings

879,412

921,279

Other debtors

432,383

417,722

1,532,993

1,451,326

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. No rent is charged by the fellow subsidiary KSI Kingsley School Property Limited which has an interest free loan of £870,089 (2024: £917,090) from the company.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Deferred income

1,328,381

1,310,964

Trade creditors

246,038

215,187

Amounts owed to group undertakings

50,000

1,962

Taxation and social security

87,619

80,188

Other creditors

261,346

173,744

1,973,384

1,782,045

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Deferred income

355,075

586,687

Amounts owed to group undertakings

4,747,674

4,608,102

Other creditors

513,910

558,948

5,616,659

5,753,737

Amounts owed to group undertakings were a loan due to the company's immediate parent company KSI Education Ltd, charged over the company's present and future estates or interests.

The terms of the loan are that interest will be charged at the end of each financial year, on a daily basis, at a rate of 3.5% above the Bank of England base rate until 1 September 2024, and at a fixed rate of 4% from 1 September 2024 to 31 May 2029. The interest is payment in kind interest and will therefore be added to the overall borrowings until such time that the company is in a position of reporting profits. See note 6.

Other creditors included an external loan of £300,000, see note 13.

10.

LOANS

An analysis of the maturity of loans is given below:

31.8.25

31.8.24

£

£

Amounts falling due between one and two years:

Other loans - 1-2 years

37,500

-

Amounts falling due between two and five years:

Other loans - 2-5 years

112,500

112,500

Amounts falling due in more than five years:

Repayable by instalments

Other loans more than 5 years

150,000

187,500

Other loans are related to an external loan for sport pitch upgrade project, with 5% per annum fixed interest rate which would be repaid before 31 August 2034 by instalments.

Group loans are related to a loan due to the company's immediate parent company KSI Education Ltd which would be repaid with £50,000 per annum by instalments. See details in note 12.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE CONTROLLING PARTY

The immediate parent company and the smallest and largest group to consolidate these financial statements is KSI Education Limited. Copies of the KSI Education Ltd consolidated financial statements can be obtained from the company registered office at G16, Central Court 25, Southampton Buildings, London, England, WC2A 1AL.

There is no one ultimate controlling party.