For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

LETTA School Direct Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Bygrove Primary School, Bygrove Street, LONDON, E14 6DN.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 generated through fees paid by students and bursaries received and measured as the fair value of the consideration received or receivable, excluding value added tax.

Fees paid by students is recognised proportionally over the period in which the training is provided. Any fees received in advance is treated as deferred income on the balance sheet and recognised as income when the related training is provided.

Revenue received with respect to bursaries are recognised on an accruals basis and is recognised when performance obligations have been met.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:

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 surplus or deficit.

Cash and cash equivalents are basic financial assets and represents cash in hand and deposits held at call with banks.

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.

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets are classified as receivable within one year and are not amortised on the basis that amounts are receivable within one year or less.

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, including creditors, and loans from fellow related parties, are recognised at transaction price. Financial liabilities are classified as payable within one year and are not amortised on the basis that payment is due within one year or less.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities on the basis that payment is due within one year or less.

The company is not carrying on a business for the purposes of making a profit and is therefore exempt from corporation tax.

Government grants are recognised under the accruals model as permitted by FRS 102 and are recognised when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants are recognised as income over the periods when the related costs are incurred.

The average monthly number of persons (including directors) employed by the company during the year was:

The employees disclosed above relate to the 2 directors of the company. The directors are not remunerated by the company.

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The Letta Trust is an academy trust which is considered to be a related party as some members of its senior management team are also directors of Letta School Direct Limited.

During the year, Letta School Direct Limited paid contributions for salary costs to The Letta Trust. These salaries relate to staff delivering initial teacher training, apprenticeships and other professional development.

The amount paid was £624,780 (2024 - £631,460).

There were no amounts due to or from The Letta Trust as at the balance sheet date.