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Registered number: 11227458
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2025
| TLE AT EAST FINCHLEY UK LIMITED
TLE AT EAST FINCHLEY UK LIMITED |  |
COMPANY INFORMATION
Directors | R Weissman
| S Levine (resigned 31 July 2025)
| S Paine (resigned 13 November 2025)
| M Moon (appointed 13 November 2025)
Registered number | 11227458
Registered office | 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
TLE AT EAST FINCHLEY UK LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1
Notes to the financial statements | 2 - 5
TLE AT EAST FINCHLEY UK LIMITED REGISTERED NUMBER:11227458 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets | 5 |  | 2,159,902 |  | 2,402,970
|  |  | 2,159,902 |  | 2,402,970
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,044,191 |  | 194,795 |
Cash at bank and in hand |  | 27,212 |  | 65,756 |
|  | 1,071,403 |  | 260,551 |
Creditors: amounts falling due within one year | 7 | (1,022,898) |  | (394,664) |
Net current assets/(liabilities) |  |  | 48,505 |  | (134,113)
Total assets less current liabilities |  |  | 2,208,407 |  | 2,268,857
Net assets |  |  | 2,208,407 |  | 2,268,857
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 2,208,307 |  | 2,268,757
|  |  | 2,208,407 |  | 2,268,857
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 by:
R Weissman
Director
Date: 1 April 2026
The notes on pages 2 to 5 form part of these financial statements. Page 1
TLE AT EAST FINCHLEY UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
TLE at East Finchley UK Limited is a private company, limited by shares, incorporated in England in Wales under the Companies Act 2006. The address of the registered office is disclosed on the company information page and the principal place of business is 250 East End Road, East Finchley, London, N2 8AU. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The Company has full support from its parent company, The Learning Experience Corporation, enabling the company to meet its liabilities as they full due. The Learning Experience Corporation has indicated its intention to provide funding support without restriction for a period of at least 12 months from the approval of these financial statements. The Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
| 2.3 | Revenue
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 discounts, rebates, value added tax and other sales taxes. Tuition revenue is recognised in the period in which the services are provided. Payments received in advance are deferred into the period in which they relate.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | 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 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. Page 2
TLE AT EAST FINCHLEY UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets
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. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 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:
|  |  |  | Short-term leasehold property | - | Over the life of the lease
|  |  |  | Plant and machinery | - | 33% straight line
|  |  |  | Fixtures and fittings | - | 20% straight line
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.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Impairment of tangible fixed assets Where indicators of impairment are identified, the Directors assess the recoverable amount of tangible fixed assets based on value in use calculations, derived from forecast future cash flows. This assessment requires the application of significant judgement, particularly in relation to the timing and level of future revenues, expected child registration numbers, and the associated operating costs. Changes in these assumptions could have a material impact on the carrying value of the assets that lead to impairment charges being recognised.
4. | Employees
| The average monthly number of employees, including directors, during the year was 49 (2024 -44).
Page 3
TLE AT EAST FINCHLEY UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Short-term leasehold property | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 3,364,980 | 2,015 | 112,496 | 3,479,491
| Additions | 6,897 | 5,622 | 8,941 | 21,460
| At 31 December 2025 | 3,371,877 | 7,637 | 121,437 | 3,500,951
| Depreciation |  |  |  |
| At 1 January 2025 | 1,001,744 | - | 74,777 | 1,076,521
| Charge for the year on owned assets | 240,918 | 3,015 | 20,595 | 264,528
| At 31 December 2025 | 1,242,662 | 3,015 | 95,372 | 1,341,049
| Net book value |  |  |  |
| At 31 December 2025 | 2,129,215 | 4,622 | 26,065 | 2,159,902
| At 31 December 2024 | 2,363,236 | 2,015 | 37,719 | 2,402,970
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 59,121 | 15,260
| Amounts owed by group undertakings | 868,009 | 64,244
| Other debtors | 1,868 | 3,350
| Prepayments and accrued income | 115,193 | 111,941
|  | 1,044,191 | 194,795
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 212,927 | 15,772
| Amounts owed to group undertakings | 670,504 | 237,923
| Accruals and deferred income | 139,467 | 140,969
|  | 1,022,898 | 394,664
Page 4
TLE AT EAST FINCHLEY UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Parent company
The parent of the smallest group for which consolidated financial statements are drawn up is The Learning Experience Systems UK Limited. The address of their registered office is: 4th Floor, 95 Gresham Street, London, EC2V 7AB.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 2 April 2026 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.
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