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Registered number: 10383973
INTERNATIONAL COMMUNITY SCHOOLS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 AUGUST 2025
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
COMPANY INFORMATION
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E W L Ng (appointed 5 September 2025)
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J Polansky (resigned 5 September 2025)
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
CONTENTS
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Statement of financial position
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Notes to the financial statements
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
REGISTERED NUMBER: 10383973
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
REGISTERED NUMBER: 10383973
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 January 2026.
The notes on pages 3 to 13 form part of these financial statements.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
The Company is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales with the registration number 10383973. The registered office is at 7B Wyndham Place, London, W1H 1PN, England.
2.Accounting policies
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Basis of preparation of financial statements
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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 requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
The following principal accounting policies have been applied:
The Company has recorded a loss of £52,317 (2024 loss of £30,195) and had net assets of £271,404 (2024 - £323,721) at the balance sheet date. The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statement. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The company expects continued financial support from its intermediary parent company, Nuevo Agora Centro de Estudios S.L.
The Company's forecasts and projections show that the company should be able to operate within the level of its current facilities.
Therefore the directors have a reasonable expectation that the Company has adequate reources to continue in operational existence for the forseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue 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 revenue 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.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Interest income is recognised in profit or loss using the effective interest method.
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.
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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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.
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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 Statement of financial position 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.
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
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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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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The average monthly number of employees, including directors, during the year was 56 (2024 - 53).
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Charge for the year on owned assets
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Short term timing difference
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £1.00
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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 £75,044 (2024 - £76,065). Contributions totalling £18,653 (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
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Commitments under operating leases
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At 31 August 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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12.Other financial commitments
On 23 November 2017, the company entered into a debenture as Security Trustee, granting fixed and floating charges over various assets to secure obligations under a group senior facilities agreement. The debenture includes a negative pledge and gives the lender enforcement rights in the event of default.
On 15 December 2022, the company entered into a debenture as Security Trustee on loans to fellow group companies, granting fixed and floating charges over certain assets to secure its financial obligations. The agreement includes a negative pledge and gives the lender enforcement rights in the event of default.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
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Related party transactions
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The company was charged management fees of £299,733 (2024 - £244,169) during the year by an intermediate parent company.
Included in interest receivable are amounts charged to group companies totalling £117,310 (2024 -£114,711).
Included in amounts owed by group undertakings due over one year is a balance owed by a fellow group company of £479,154 (2024 - £447,471), plus accumulated interest of £42,337 (2024 - £31,682). The balance accrued interest at a rate of Euribor 6 month + 6% and arm's length margin per annum, recoverable on 14 June 2030. £42,337 (2024 - £31,682) of interest was charged on this loan during the year.
Included in amounts owed by group undertakings due within one year is a balance owed by a fellow group company of £1,216,296 (2024 - £1,133,267), plus accumulated interest of £74,973 (2024 - £83,029). The balance accrued interest at a rate of Euribor + 1.5% per annum. The balance is unsecured and repayable on demand.
Included in amounts owed by group undertakings are balances of £277,082 (2024 - £222,106), which are unsecured, interest free and repayable on demand.
Included in amounts owed to group undertakings are balances totalling £705,452 (2024 - £492,269). These balance is unsecured, and interest free and repayable on demand.
Included in amounts owed to group undertakings due within one year is a balance owed by a an intermediate parent company of £110,201 (2024 - £99,066), plus accumulated interest of £9,481 (2024 : 11,135). The balance accrued interest at an annual rate of EURIBOR 6 month plus 6% and arm's length margin. The balance is unsecured and repayable on demand. £9,481 (2024 - £11,135) of interest was charged on this loan during the year.
Included in amounts owed to group undertakings is a balance owed to a fellow group companies of £705,452 (2024 - £492,269). The balance is unsecured, interest free and repayable on demand.
Other operating income includes recharged salaries and expenses of £229,339 (2024 - £178,242) to an intermediate parent company.
During the year, the company charged a total of £20,346 (2024 - £61,182) for tuition and other fees for children of members of staff.
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INTERNATIONAL COMMUNITY SCHOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
International Community Schools Limited is a wholly owned subsidiary of Nace International Ltd, incorporated in England and Wales. Nace International Ltd is a wholly owned subsidiary of Nace (France)
with registered office address at 117 Bd Malesherbes, 75008 Paris, France.
PN VII Holdco, S.a.r.l., a société à responsabilité limitée, incorporated in Luxembourg is regarded by the directors as being the company's ultimate parent undertaking and controlling party as at the balance sheet date.
The largest and smallest group of undertakings for which group financial statements are drawn and of
which this company is a member is headed by:
PN VII Holdco, S.a.r.l.,
1A, Heienhaff,
L - 1736 Senningerberg,
Luxembourg
The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.
The audit report was signed on 9 January 2026 by Richard Rhodes (Senior statutory auditor) on behalf of Feltons.
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