Company registration number 06145257 (England and Wales)
LEEDS LEP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
LEEDS LEP LIMITED
COMPANY INFORMATION
Directors
JS Gordon
VJ Bradshaw
PR Hepburn
S McGhee
(Appointed 25 August 2025)
Secretary
Resolis Limited
Company number
06145257
Registered office
1 Park Row
Leeds
United Kingdom
LS1 5AB
Auditor
Johnston Carmichael LLP
7-11 Melville Street
Edinburgh
United Kingdom
EH3 7PE
LEEDS LEP LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 16
LEEDS LEP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present their report with the financial statements of the Company for the year ended 30 September 2025.

Principal activities

The Company develops and manages the build and subsequent running of schools, whether they are procured via the PFI contracts or a traditional design and build arrangement.

The Company's operations are managed under a management services agreement under the supervision of its directors and are largely determined by the detailed terms of the contracts.

The Company continues to deliver services to the other Leeds projects, namely Environments for Learning Leeds PFI One Ltd, Environments for Learning Leeds PFI Two Ltd, Environments for Learning Leeds PFI Three Ltd and Environments for Learning Leeds PFI Four Ltd in accordance with the management services agreements and is continuing to arrange delivery of ad hoc projects via these and via Leeds D&B One Limited and receives management service fees for these services.

Results and dividends

The results of the Company are set out on the financial statements on page 8. A loss after tax of £107,000 (202 4: £136,000) has been transferred to the reserves. A dividend of £Nil was paid during the year (2024: £9 2,000).

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

KJ Dennett
(Resigned 16 December 2025)
JS Gordon
VJ Bradshaw
KA Cunningham
(Resigned 25 August 2025)
PR Hepburn
S McGhee
(Appointed 25 August 2025)
Going concern

The going concern disclosure for the Company can be found in note 1.2 of the financial statements.

Auditor

The auditor, Johnston Carmichael LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

LEEDS LEP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
JS Gordon
Director
26 March 2026
LEEDS LEP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The directors are responsible for preparing the annual 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 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 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 and then apply them consistently;

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

- 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LEEDS LEP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEEDS LEP LIMITED
- 4 -
Opinion

We have audited the financial statements of Leeds LEP Limited ('the company') for the year ended 30 September 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including F inancial 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 30 September 2025 and of its loss 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 responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report and financial statements other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information contained within the annual report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- T he information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The Directors' Report has been prepared in accordance with applicable legal requirements.

LEEDS LEP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEEDS LEP LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in 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

- T he 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

- W e have not received all the information and explanations we require for our audit; or

- The Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement 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 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.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

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 assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations by considering their experience, past performance and support available.

All engagement team members were briefed on relevant identified laws and regulations and potential fraud risks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

LEEDS LEP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEEDS LEP LIMITED (CONTINUED)
- 6 -

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and the sector in which it operates, focusing on those provisions that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks we identified include:

- Companies Act 2006;

- UK Corporation Tax legislation;

- VAT legislation; and

- United Kingdom Generally Accepted Accounting Practice.

We gained an understanding of how the company is complying with these laws and regulations by making enquiries of management and those charged with governance. We corroborated these enquiries through our review of submitted returns and board meeting minutes.

We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management and those charged with governance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with governance were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management and those charged with governance oversee the implementation and operation of controls. In areas of the financial statements where the risks were considered to be higher, we performed procedures to address each identified risk. We identified a heightened fraud risk in relation to:

- Management override of controls; and

- Revenue recognition

In addition to the above, the following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

- Reviewing minutes of meetings of those charged with governance for reference to: breaches of laws and regulation or for any indication of any potential litigation and claims; and events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud;

- Reviewing the level of and reasoning behind the company's procurement of legal and professional services;

- Performing audit procedures over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and assessing judgements made by management in their calculation of accounting estimates for potential management bias;

- Agreeing a sample of income receipts to supporting documents and bank statements;

- Completion of appropriate checklists and use of our experience to assess the company's compliance with the Companies Act 2006; and

- Agreement of the financial statement disclosures to supporting documentation.

Our audit procedures were designed to respond to the risk of material misstatements in the financial statements, recognising that 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 intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed 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.

LEEDS LEP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEEDS LEP LIMITED (CONTINUED)
- 7 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Grant Roger (Senior Statutory Auditor)
For and on behalf of Johnston Carmichael LLP
Statutory Auditor
Edinburgh, United Kingdom
26 March 2026
LEEDS LEP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£'000
£'000
Turnover
3
646
489
Cost of sales
(11)
(36)
Gross profit
635
453
Administrative expenses
(754)
(740)
Operating loss
(119)
(287)
Income from shares in group undertakings
-
0
92
Other interest receivable and similar income
36
35
Interest payable and similar expenses
(36)
(40)
Loss before taxation
(119)
(200)
Tax on loss
12
64
Loss for the financial year
(107)
(136)
LEEDS LEP LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£'000
£'000
£'000
£'000
Fixed assets
Investments
6
228
228
Current assets
Debtors
7
174
263
Cash at bank and in hand
1,838
1,776
2,012
2,039
Creditors: amounts falling due within one year
8
(1,216)
(1,134)
Net current assets
796
905
Total assets less current liabilities
1,024
1,133
Creditors: amounts falling due after more than one year
9
(216)
(218)
Net assets
808
915
Capital and reserves
Called up share capital
10
5
5
Profit and loss reserves
803
910
Total equity
808
915

The notes on pages 11 to 16 form part of the financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 March 2026 and are signed on its behalf by:
JS Gordon
Director
Company registration number 06145257 (England and Wales)
LEEDS LEP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
£'000
£'000
£'000
Balance at 1 October 2023
5
1,138
1,143
Year ended 30 September 2024:
Loss and total comprehensive income
-
(136)
(136)
Dividends
-
(92)
(92)
Balance at 30 September 2024
5
910
915
Year ended 30 September 2025:
Loss and total comprehensive income
-
(107)
(107)
Balance at 30 September 2025
5
803
808
LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
1
Accounting policies
Company information

Leeds LEP Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Park Row, Leeds, United Kingdom, LS1 5AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention.

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

Monetary amounts in these financial statements are rounded to the nearest £'000.

1.2
Going concern

The Company entered into a strategic partnering concession with Leeds City Council to develop and build educational facilities. Whilst no new projects have been contracted since March 2022, the Company continues to deliver the current contracted projects and will do so until their completion. true

The Company also generates income from management services for its subsidiary company, Leeds D&B One Limited, which delivers construction projects. One of the risks for this Company is the financial failure of one of the Company's design and construction contractors. In assessing this risk, the Board has requested that LCC accept this risk for any future contracts that are awarded and LCC agreed to accept the risk. In respect of the same risk for completed design and construction contracts, the directors are of the opinion that the likelihood of both the financial failure of a contractor and significant defects being present in the building that they have constructed is very low and therefore is acceptable. The supply chain has also been expanded to utilise a number of different contractors on the current active projects.

Leeds LEP Limited has made loans to Environments for Learning Leeds PFI One Limited (Project Company) for £11 3,000 (2024: £11 3,000), and Environments for Learning Leeds PFI Two Limited (Project Company) for £114,000 (2024: £114,000), together referred to as 'Project Cos'. The Project Cos each have a Credit Agreement with their lenders.

The directors have reviewed budgets and business models prepared for the underlying Project Cos which indicate expected distributions from Project Cos to the Company and also show expected interest payments by the Company to its shareholders.

The directors have also prepared forecasts for the Company for 12 months after the year end, based on contracts in place and other existing expenditure. These indicate that the Company will have sufficient cash resources to meet its liabilities as they fall due. Therefore, the directors, having considered the financial position of the Company and its expected future cash flows, which incorporate the payments on the Company's investment, have prepared the financial statements on a going concern basis. The directors confirm that they do not intend to liquidate the Company or cease trading as they consider they have realistic alternatives to doing so.

LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.3
Turnover

(a) Service contracts
Turnover from the supply of services represents the value provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
(b) Dividends
Dividend income is recognised when the shareholders' rights to receive payment have been established (provided that it is probabl e that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

(c) Interest
Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest is accrued on a time basis by reference to the principal outstanding and the effective interest rate.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
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 creditors and loans from fellow group companies, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9

Consolidation

These financial statements present information about the Company alone and not of a group. Consolidated financial statements have not been prepared as provided by section 400 of the Companies Act 2006.

2
Judgements and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based upon historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily available from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.

In the opinion of the directors, there are no areas of significant judgement or estimation.

LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
3
Turnover

The turnover and profit before taxation are attributable to the one principal activity of the Company, being the development and management of the build and subsequent running of schools and leisure facilities, arising entirely from the United Kingdom. Turnover is accounted net of VAT in line with the accounting policy as included in Note 1.

4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£'000
£'000
For audit services
Audit of the financial statements of the company
23
22
Taxation advisory services
10
9
33
31

The Company bears the fees for the statutory audit of Leeds D&B One Limited, as well as itself. The Company bears the fees for taxation services of Leeds D&B One Limited and Environments for Learning Leeds PSP Limited, as well as itself.

5
Employees

The Company had no employees during the year (2024: nil). The directors of the Company did not receive any remuneration for their services to the Company in either year.

6
Fixed asset investments
2025
2024
£'000
£'000
Shares in group undertakings and participating interests
1
1
Loans to group undertakings and participating interests
227
227
228
228
7
Debtors
2025
2024
Amounts falling due within one year:
£'000
£'000
Trade debtors
-
0
85
Corporation tax recoverable
-
0
58
Amounts due from related party
7
5
Prepayments
6
7
Accrued income
156
76
VAT asset
5
32
174
263
LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 15 -
8
Creditors: amounts falling due within one year
2025
2024
£'000
£'000
Other borrowings
11
9
Trade creditors
46
54
Accruals and deferred income
1,159
1,071
1,216
1,134

Other borrowings are loans to group undertakings which bear interest at a fixed rate of 13% and are repayable over the life of the contract to 2034.

9
Creditors: amounts falling due after more than one year
2025
2024
£'000
£'000
Other borrowings
216
218

Other borrowings are loans to group undertakings which bear interest at a fixed rate of 13% and are repayable over the life of the contract to 2034.

Amounts included above which fall due after five years are as follows:
Payable by instalments
130
153
LEEDS LEP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£'000
£'000
Issued and fully paid
Ordinary shares (A) of £1 each
475
475
5
5
Ordinary shares (B) of £1 each
475
475
-
0
-
0
Ordinary shares (C) of £1 each
3,800
3,800
-
0
-
0

On incorporation 4,750 shares were issued at £1 each. They carry no right to a fixed income. All shares have equal voting rights.

11
Related party transactions

The Company has taken advantage of exemption, under the small companies regime, not to disclose related party transactions that have been concluder under normal market conditions.

12
Controlling Party

The Company is majority owned by Environments for Learning Leeds PSP Limited, a company which is registered in England and having the same registered office as the Company. In the opinion of the Directors, there is no ultimate controlling party.

The smallest and largest group in which the Company’s results are consolidated is Environments for Learning Limited, a company registered in England. Copies of the consolidated accounts are available from Companies House.

2025-09-30 2024-10-01 false false false CCH Software CCH Accounts Production 2025.300 KJ Dennett JS Gordon VJ Bradshaw KA Cunningham PR Hepburn S McGhee Resolis Limited 0 06145257 2024-10-01 2025-09-30 06145257 bus:Director2 2024-10-01 2025-09-30 06145257 bus:Director3 2024-10-01 2025-09-30 06145257 bus:Director5 2024-10-01 2025-09-30 06145257 bus:Director6 2024-10-01 2025-09-30 06145257 bus:CompanySecretary1 2024-10-01 2025-09-30 06145257 bus:Director1 2024-10-01 2025-09-30 06145257 bus:Director4 2024-10-01 2025-09-30 06145257 bus:RegisteredOffice 2024-10-01 2025-09-30 06145257 2025-09-30 06145257 2023-10-01 2024-09-30 06145257 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 06145257 core:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 06145257 2024-09-30 06145257 core:CurrentFinancialInstruments 2025-09-30 06145257 core:CurrentFinancialInstruments 2024-09-30 06145257 core:CurrentFinancialInstruments core:WithinOneYear 2025-09-30 06145257 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 06145257 core:Non-currentFinancialInstruments core:AfterOneYear 2025-09-30 06145257 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 06145257 core:ShareCapital 2025-09-30 06145257 core:ShareCapital 2024-09-30 06145257 core:RetainedEarningsAccumulatedLosses 2025-09-30 06145257 core:RetainedEarningsAccumulatedLosses 2024-09-30 06145257 core:ShareCapital 2023-09-30 06145257 core:RetainedEarningsAccumulatedLosses 2023-09-30 06145257 2023-09-30 06145257 core:ShareCapitalOrdinaryShareClass1 2025-09-30 06145257 core:ShareCapitalOrdinaryShareClass1 2024-09-30 06145257 core:ShareCapitalOrdinaryShareClass2 2025-09-30 06145257 core:ShareCapitalOrdinaryShareClass2 2024-09-30 06145257 core:ShareCapitalOrdinaryShareClass3 2025-09-30 06145257 core:ShareCapitalOrdinaryShareClass3 2024-09-30 06145257 core:Non-currentFinancialInstruments 2025-09-30 06145257 core:Non-currentFinancialInstruments 2024-09-30 06145257 bus:OrdinaryShareClass1 2024-10-01 2025-09-30 06145257 bus:OrdinaryShareClass2 2024-10-01 2025-09-30 06145257 bus:OrdinaryShareClass3 2024-10-01 2025-09-30 06145257 bus:OrdinaryShareClass1 2025-09-30 06145257 bus:OrdinaryShareClass1 2024-09-30 06145257 bus:OrdinaryShareClass2 2025-09-30 06145257 bus:OrdinaryShareClass2 2024-09-30 06145257 bus:OrdinaryShareClass3 2025-09-30 06145257 bus:OrdinaryShareClass3 2024-09-30 06145257 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 06145257 bus:FRS102 2024-10-01 2025-09-30 06145257 bus:Audited 2024-10-01 2025-09-30 06145257 bus:FullAccounts 2024-10-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP