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Registration number: 09416929

The National Mathematics And Science College Limited
Filleted Financial Statements
for the Year Ended 31 August 2025

The National Mathematics And Science College Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 9

The National Mathematics And Science College Limited

Company Information

Directors | M V Robinson E McFarlane Z Li L Hao J Wei H Xu S Xu

Registered office | 2 The Oaks Westwood Way Westwood Business Park Coventry Warwickshire CV4 8JB

Auditors | Bissell & Brown Midlands Ltd Statutory Auditor Charter House 56 High Street Sutton Coldfield West Midlands B72 1UJ

The National Mathematics And Science College Limited

(Registration number: 09416929)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 996,378 | 1,005,919
Current assets |  |  |
Debtors | 6 | 714,605 | 1,077,771
Cash at bank and in hand |  | 4,308,659 | 2,878,849
|  | 5,023,264 | 3,956,620
Creditors: Amounts falling due within one year | 7 | (7,125,018) | (6,502,982)
Net current liabilities |  | (2,101,754) | (2,546,362)
Total assets less current liabilities |  | (1,105,376) | (1,540,443)
Creditors: Amounts falling due after more than one year | 7 | (7,024,469) | (6,517,221)
Net liabilities |  | (8,129,845) | (8,057,664)
Capital and reserves |  |  |
Called up share capital | 9 | 1,500,000 | 1,500,000
Retained earnings |  | (9,629,845) | (9,557,664)
Shareholders' deficit |  | (8,129,845) | (8,057,664)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the directors' report and the Profit and Loss Account.

Approved and authorised by the Board on 11 May 2026 and signed on its behalf by:

......................................... M V Robinson Director | ......................................... J Wei Director |

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 The Oaks Westwood Way
Westwood Business Park
Coventry
Warwickshire
CV4 8JB
England

These financial statements were authorised for issue by the Board on 11 May 2026.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 20 May 2026 was Paul Matthews, who signed for and on behalf of Bissell & Brown Midlands Ltd.

.........................................

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise of a small group.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

2 | Accounting policies (continued)

Going concern

Notwithstanding a loss of £72,181 the directors have prepared the accounts on a going concern basis, which the directors believe to be appropriate for the following reasons.
The existing funders are shareholders of the company and will not seek repayment of loans within 12 months of authorising these financial statements.
The directors continue to focus on and prioritise increasing student numbers and maintain appropriate level of overheads in line with resources. Appropriate diligence is applied to maximising cash balances in the business with particular emphasis on timely invoicing of fees and ensuring these are collected on time. As such, the company has generated positive net cash flows from its activities for each of the last 3 years.
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due, for a period of 12 months from the date of approval of these financial statements and have consequently prepared for the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold buildings | Over term of lease
Furniture, fittings and equipment | 33.33% straight line
Motor vehicles | 25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

2 | Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

2 | Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2024 - 40).

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 September 2024 | 1,805,692 | 532,122 | 83,850 | 2,421,664
Additions | 168,450 | 42,440 | - | 210,890
Disposals | - | (17,998) | (9,900) | (27,898)
At 31 August 2025 | 1,974,142 | 556,564 | 73,950 | 2,604,656
Depreciation
At 1 September 2024 | 1,019,185 | 388,068 | 8,492 | 1,415,745
Charge for the year | 131,086 | 69,449 | 19,896 | 220,431
Eliminated on disposal | - | (17,998) | (9,900) | (27,898)
At 31 August 2025 | 1,150,271 | 439,519 | 18,488 | 1,608,278
Carrying amount
At 31 August 2025 | 823,871 | 117,045 | 55,462 | 996,378
At 31 August 2024 | 786,507 | 144,054 | 75,358 | 1,005,919

Included within the net book value of land and buildings above is £823,871 (2024 - £786,507) in respect of short leasehold land and buildings.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

5 | Investments

Subsidiaries | £
Cost or valuation
At 1 September 2024 | 130,225
Disposals | (130,225)
At 31 August 2025 | -
Provision
At 1 September 2024 | 130,225
Eliminated on disposals | (130,225)
At 31 August 2025 | -
Carrying amount
At 31 August 2025 | -
At 31 August 2024 | -

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
NMSC (Beijing) International Education Consulting Co Ltd | 1st Floor No 1089 Huihe South Street Banbidian Village Gaobeidian Township Chaoyang District Beijing China | Share capital | 0% | 100%

Subsidiary undertakings
NMSC (Beijing) International Education Consulting Co Ltd The principal activity of NMSC (Beijing) International Education Consulting Co Ltd is was marketing activities for student recruitment in mainland China. The company has been struck off in the year.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 512,387 | 921,757
Prepayments | 146,866 | 112,908
Other debtors | 55,352 | 43,106
| 714,605 | 1,077,771

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 864,363 | 307,497
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 10 | 303,448 | 254,264
Taxation and social security |  | 471,183 | 217,228
Accruals |  | 769,716 | 683,250
Deferred income |  | 4,669,786 | 4,997,890
Other creditors |  | 46,522 | 42,853
|  | 7,125,018 | 6,502,982

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7.1 | 7,024,469 | 6,517,221

7.1 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other loans | 5,124,469 | 4,617,221
Loan notes | 1,900,000 | 1,900,000
| 7,024,469 | 6,517,221

Luck Ease Corporation limited holds a charge of £3,115,000 over all the freehold property (and, if any, leasehold property) (present and future) vested in or to the chargor.

The National Mathematics And Science College Limited

Notes to the Financial Statements for the Year Ended 31 August 2025 (continued)

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £8,002,545 (2024 - £5,215,456).

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 50,000 | 50,000 | 50,000 | 50,000
Preference of £1 each | 1,450,000 | 1,450,000 | 1,450,000 | 1,450,000
| 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000

10 | Related party transactions

Loans from related parties

2025 | Parent £ | Key management £ | Other related parties £ | Total £
At start of period | 4,690,351 | 1,417,497 | 409,373 | 6,517,221
Interest transactions | 372,224 | 112,248 | 22,777 | 507,249
At end of period | 5,062,575 | 1,529,745 | 432,150 | 7,024,470

2024 | Parent £ | Key management £ | Other related parties £ | Total £
At start of period | 4,363,110 | 1,290,114 | 387,858 | 6,041,082
Interest transactions | 327,241 | 127,383 | 21,515 | 476,139
At end of period | 4,690,351 | 1,417,497 | 409,373 | 6,517,221

11 | Parent and ultimate parent undertaking

The company's immediate parent is Luck Ease Corporation Limited, incorporated in Hong Kong.
The most senior parent entity producing publicly available financial statements is Luck Ease Corporation Limited in Hong Kong.