Company registration number 04842064 (England and Wales)
NORTHERN CONSORTIUM UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
NORTHERN CONSORTIUM UK LIMITED
COMPANY INFORMATION
Directors
Mr J Andrews
Mr S Smith
Mr M A Ismail
Mr A Mickethwaite
Prof C F Stychin
Ms C M Webster
Company number
04842064
Registered office
Spaces Peter House
Oxford Street
Manchester
United Kingdom
M1 5AN
Auditor
Xeinadin Audit Limited
100 Barbirolli Square
Manchester
Greater Manchester
United Kingdom
M2 3BD
NORTHERN CONSORTIUM UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
NORTHERN CONSORTIUM UK LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
829,196
93,825
Tangible assets
4
36,943
33,089
866,139
126,914
Current assets
Debtors
6
868,185
718,822
Cash at bank and in hand
2,443,701
3,231,265
3,311,886
3,950,087
Creditors: amounts falling due within one year
7
(1,257,752)
(1,112,229)
Net current assets
2,054,134
2,837,858
Total assets less current liabilities
2,920,273
2,964,772
Provisions for liabilities
(9,089)
(8,093)
Net assets
2,911,184
2,956,679
Capital and reserves
Called up share capital
9
1,306,000
1,306,000
Profit and loss reserves
1,605,184
1,650,679
Total equity
2,911,184
2,956,679

These financial statements have been prepared and delivered 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 13 February 2026 and are signed on its behalf by:
Prof C F Stychin
Director
Company registration number 04842064 (England and Wales)
NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Northern Consortium UK Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04842064. The address of the registered office and principal place of business is Spaces Peter House, Oxford Street, Manchester, England, M1 5AN.

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

Related party exemption

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.

Preparation of consolidated financial statements

The financial statements contain information about Northern Consortium UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Northern Consortium, 667-669 Stockport Road, Manchester, M12 4QE.

1.2
Going concern

The directors have deemed it reasonable to prepare these financial statements on a going concern true basis. Management has determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern.

1.3
Turnover

Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of providing educational courses and training programmes which are recognised at the point of which the goods or services are provided.

1.4
Intangible fixed assets other than goodwill

Intangible assets represent expenditure on the development of computer software and are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At the reporting date, computer software continues to be developed and therefore is not being amortised, suitable economic life will be estimated once the software and product development is complete.

NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer equipment
33.33% on cost

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

1.6
Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
1.9
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.

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Defined benefit pension obligation

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The entity's net obligation in respect of a defined benefit plan is calculated separately by estimating the amount of future benefit that employees have earned in return for their services in the current and past periods: that benefit is discounted to determine its present value. The fair value of any plan assets is deducted. The entity determines the net interest expense (income) on the net defined liability (asset) for the period by applying the discount rate as determined at the beginning of the annual period to the net defined benefit liability (asset) taking account of changes arising as a result of contributions and benefit payments.

The discount rate is the yield at the balance sheet date on AA credit rated bonds denominated in the currency of, and having maturity dates approximating to the term of the entity's obligations. A valuation is performed annually by a qualified actuary using the projected unit credit method. The entity recognised net defined benefit plan assets to the extent that it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan.

Changes in the net defined benefit liability arising from employee service rendered during the period, net interest on net defined benefit liability, and the cost of plan introductions, benefit changes, curtailments and settlements during the period are recognised in profit and loss.

Re-measurement of the net defined benefit liability/asset is recognised in other comprehensive income in the period in which it occurs.

1.10
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.11
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

1.12

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

1.13

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
2
Employees

The average number of employees during the year was:

2025
2024
Number
Number
Total
81
77
3
Intangible fixed assets
Computer software
Product development
Total
£
£
£
Cost
At 1 September 2024
93,825
-
0
93,825
Additions
634,901
100,470
735,371
At 31 August 2025
728,726
100,470
829,196
Amortisation and impairment
At 1 September 2024 and 31 August 2025
-
0
-
0
-
0
Carrying amount
At 31 August 2025
728,726
100,470
829,196
At 31 August 2024
93,825
-
0
93,825
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 September 2024
289,759
Additions
30,045
At 31 August 2025
319,804
Depreciation and impairment
At 1 September 2024
256,670
Depreciation charged in the year
26,191
At 31 August 2025
282,861
Carrying amount
At 31 August 2025
36,943
At 31 August 2024
33,089
NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
5
Subsidiaries

Details of the company's subsidiaries at 31 August 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
NCUK Pakistan (PVT) Limited
Pakistan
Dormant
Ordinary
70.00

The cost of the investment is £70,001 which has been impaired to £Nil given the dormant status.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
639,656
516,269
Corporation tax recoverable
431
431
Amounts owed by group undertakings
550
2,570
Other debtors
47,266
90,986
Prepayments and accrued income
180,282
108,566
868,185
718,822
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
21,119
122,184
Taxation and social security
96,076
98,785
Other creditors
334,779
190,850
Accruals and deferred income
805,778
700,410
1,257,752
1,112,229
NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
8
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
137,954
131,276

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Defined Benefit Pension Scheme

Universities Superannuation Scheme (USS)

The total (gain)/loss charged to the profit and loss account is (£Nil) (2024: £650,713 gain).

The total pension liability at the balance sheet date is £Nil (2024: £Nil).

The latest available complete actuarial valuation of the Retirement Income Builder is at 31 March 2023 (the valuation date), which was carried out using the projected unit method. The actuarial valuation found that the pension scheme was now in a surplus, therefore there is no longer a requirement to disclose the pension scheme in the financial statements.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,306,000
1,306,000
1,306,000
1,306,000
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit 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.

Senior Statutory Auditor:
Michael Garrett BA FCA ATII
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
13 February 2026
11
Operating lease commitments
As lessee
NORTHERN CONSORTIUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
11
Operating lease commitments
(Continued)
- 8 -

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025
2024
£
£
Total commitments
801,723
216,477
12
Parent company

The parent charity of the largest group that includes the company and for which consolidated financial statements are prepared is Northern Consortium. Copies of these financial statements for Northern Consortium can be obtained from the registered office at 667-669 Stockport Road, Manchester, England, M12 4QE.

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