REGISTERED NUMBER: 14415627 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 August 2025

for

WILLIAM COLLEGE LTD

Page

Company Information

1

Strategic Report

2

Report of the Director

7

Report of the Independent Auditors

9

Income Statement

13

Other Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

19

Director:

A Asaduzzaman

Registered office:

Bridge House, 320 High Street

Stratford

E15 1EP

Registered number:

14415627 (England and Wales)

Auditors:

Andertons Europe Ltd (Statutory Auditors)

1st Floor Mezzanine

35 - 37 Ludgate Hill

London

EC4M 7JN

The directors present the strategic report for the year ended 31 August 2025.

Review of business

The results for the year and the financial position of the company are as shown in the annexed financial statements.

William College Limited is a for-profit, independent Higher Education Provider (HEP), based in Stratford, East London. Its principal activity of William College Limited as of the year end is the delivery of higher education courses through sub-contractual arrangement. The company specialises in Business and Law full-time undergraduate programmes. The company currently delivers its provision through three student intakes a year exclusively to domestic (Home) students.

The company is in partnership with Bath Spa University (the awarding body).

Development and performance

The company delivered its first year as a higher education provider in partnership with Bath Spa University and debuted its flagship campus in Stratford, East London to which is has closed the year at 50% occupancy.

Company turnover increased by 118% year on year. This is due to its transition into higher education delivery and successfully meeting its student recruitment and retention targets in 2024-25.

The company showed a profit before tax of £1,080K and net assets of £1,661K at year end, compared to the previous years' net asset of £875K.

Key performance highlights

The financial year 2024-25 saw a transformational period of business and growth for the company following its transition into higher education delivery.

Year ended

Year ended

Change

31 August 2025

31 August 2024

£

£

%

Turnover

6,285,460

2,877,500

118.43

Operating Profit / (loss)

1,081,897

800,932

35.08

Profit / ( loss) after tax

785,957

560,987

40.1

Average number of employees

59

10

490

The growth drivers for the company are attributed to:

- Entry into higher education delivery and partnership with Bath Spa University

- Successful student recruitment

- Substantial growth in academic and support staff (current: 59 vs 10 in 2024)

Strategic vision and mission

Vision: To transform lives by widening access to higher education centred on law and connected disciplines.

Mission: To empower students from all backgrounds through high quality, career focused programmes shaped by student voice, and supported by excellent teaching, well-being services and tailored career guidance.

Governance and Management Framework

The Articles of Association (Articles) is the company's key governing document approved by the Board of Directors. William College has also formally constituted a Governance and Management Framework that delineates the key instruments, principles, and accountabilities governing the relationship between the Board of Governors and the executive management. This framework is approved by way of special resolution by the Board of Governors. It is designed to ensure strong oversight, effective strategic direction, and rigorous compliance with all applicable regulatory requirements. It is aligned with the Committee of University Chairs (CUC) Code of Governance, the Office for Students (OfS) regulatory framework, and the Public Interest Governance Principles, thereby embedding transparency, accountability, and a commitment to continuous improvement at the core of institutional practice.

The Governance and Management Framework operates as an integral component of a broader institutional architecture, functioning in concert with other key documents. These include the Strategic Framework, Key Performance Indicators, Risk Management Framework, and Institutional Risk Register. This integrated approach ensures that strategic objectives are consistently aligned with operational delivery, performance is systematically monitored, and risk is proactively managed across all levels of the organisation. The Board of Governors holds ultimate responsibility for the efficacy of these frameworks and retains oversight of their implementation, ensuring they remain responsive to the institution's stated mission and evolving regulatory landscape.

The governance arrangements are constitutionally designed to secure an appropriate balance of power between the Board of Governors and the executive management. The Board operates with full independence from the executive team, providing objective oversight, scrutiny, and constructive challenge to executive decision-making. Clearly defined roles and responsibilities, supported by structured reporting lines and a formal committee architecture, safeguard institutional accountability, mitigate potential conflicts of interest, and sustain an effective governance environment that is fully compliant with regulatory expectations and aligned with sector-leading best practice.

The Strategic Framework has been developed through consultation with the Board of Governors, staff, students, and alumni. It is informed by developments in higher education and societal changes and provides a structured approach to align activities with the College's long-term objectives. The Framework emphasises accountability, inclusivity, and the support of all stakeholders in achieving their roles.

The Strategic Framework operates alongside the Governance and Management Structure Framework to ensure that activities are coordinated and aligned with defined objectives. These objectives focus on delivering positive student outcomes, demonstrating value for money, and ensuring compliance with external benchmarks, regulatory requirements, and academic standards.

The College's stated strategic objectives are:

1. To optimise entry and participation in higher education for learners who demonstrate the potential to succeed

2. To deliver a compelling educational experience through support and nurture a sense of belonging

3. To uphold academic quality and standards and deliver successful outcomes

4. To deliver successful employability and graduate outcomes for our students

5. To maintain accountability and sustainability through robust and transparent governance

6. To strengthen and embed a culture of collegiately, support and success across the College

7. To grow alongside and together with our valued partners

Key Performance Indicators

The College's Key Performance Indicators (KPIs) creates a structured and quantifiable mechanism for evaluating institutional performance against its strategic objectives. These indicators measure the College's performance in achieving its Strategic Framework objectives.

This integrated performance architecture enables both the Governing Body and executive management to systematically monitor performance, oversee risk exposure, and scrutinise operational activities. It provides the college with the capacity to gauge the effectiveness of strategic initiatives, identify areas requiring improvement or intervention, and maintain demonstrable accountability to all stakeholders.

Risk management

The College's Risk Management Framework, based on the Government's Orange Book, provides a structured approach to identifying, assessing, managing, and monitoring risks that may impact its ability to achieve its strategic objectives. It incorporates a defined risk appetite, guiding the acceptance of varying levels of risk across different areas in pursuit of its goals. It also outlines the ongoing evaluation of the effectiveness of risk management practices, supporting the delivery of high-quality educational services in a responsible and sustainable manner and underpinning the long-term success of William College.

Risk profile

The college directors and governors have assessed the risk factors that they believe could impact the company's business operations, descriptions for which are provided below:

Competition

The businesses main provision is Business and Law degrees which occupies a very competitive place within the UK, London market. The availability of both larger and smaller public and private providers offering similar degrees are vast within the same regional location in which William College operates. This risk is therefore assessed to be and remain to be an ongoing risk due to the nature of the company's business activity. The company addresses the risk of competition by differentiating itself through the high quality and standards of its offering to its students - academic and non-academic. Formal mid-year internal student quality survey results have produced positive results indicating the college is containing this risk.

Credit risk

Credit risk refers to the risk that the company's students or other debtors will default and fail to make payments in accordance with the agreed terms.

This risk will increase with the anticipated growth in student numbers. However, the company's student base is mainly funded via the Student Loans Company and are required to present proof of financial eligibility and award notice at the application and enrolment stage.

Economic environment

The company operates within a sector facing continued volatility and sector-wide headwinds. The prevailing cost-of-living crisis has created noticeable financial pressures for the organisation, its staff, and its student body. These challenges are compounded by a confluence of factors including continuing inflation, lower economic growth, increased energy costs, and rising rates.

The company has taken measures to fix or lower costs where possible to mitigate against this risk.

Liquidity and solvency risk

The company has shown growth and profit for its in its consecutive third year.

Any future liquidity and solvency risk is mitigated by its reserves policy.

Regulatory compliance risk

The company is not a college registered with the Higher Education regulator, Office for Students (OfS), as of the year end as it is not required to due to its delivery as a sub-contractual (franchise) provider. It is therefore, not required to comply with the OfS Regulatory Framework, Notices and Advice.

The company maintains a register of areas of risk (such as condition B) and monitors its performance against sector recognised standards as a quality measure.

Financial sustainability within the sector

According to the Higher Education Regulator, Office for Students, as of May 2025 the sector is continuing to experience financial sustainability issues for the third consecutive year. This is assessed as being down to increased operating costs and flat student recruitment numbers, particularly impacting those institutions operating within the international market.

As of the reporting date, tuition fees for undergraduate students in England have been capped at £9,535 and limited to £5,760 for foundation years of particular subjects. The UK Government is expected to announce inflationary increase (RPIx) in tuition fees starting in 2026, which will be welcome news to the sector.

Future Outlook

The College's strategic planning is key to its ongoing growth and success. It is split into the short, medium and long term plans which are one, five and 10 years respectively.

In the short term, the college will focus on operational efficiency, standardisation across its provision and investing in the development of its staff. It will also look to expand at a sustained expansion.

In the medium term, the college will look to become an OfS registered provider, enhancing student experience, enhancing academic excellence and transitioning from a franchise provision to a validated provision, taking on more independent responsibility in the delivery of its courses.

In the long term, the college will aim to explore new degree-awarding powers and consider the potential expansion into the international market.

On behalf of the board:

A Asaduzzaman - Director

27 February 2026

The director presents his report with the financial statements of the company for the year ended 31 August 2025.

Principal activity

The principal activity of the company in the year under review was that of education consultancy service.

Dividends

No dividends will be distributed for the year ended 31 August 2025.

Directors

A Asaduzzaman has held office during the whole of the period from 1 September 2024 to the date of this report.

Other changes in directors holding office are as follows:

C D Bell - resigned 8 August 2025

A A Faruki - resigned 22 April 2025

Statement of director's responsibilities

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Statement as to disclosure of information to auditors

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Andertons Europe Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

A Asaduzzaman - Director

27 February 2026

Opinion

We have audited the financial statements of WILLIAM COLLEGE LTD (the 'company') for the year ended 31 August 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial 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 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.

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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where 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

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page seven, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Audit response to risks identified :

We considered the extent of compliance with laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting, attention was drawn to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management overide of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether

judgements made in making accounting estimates gave rise to a possible indication of management bias. The review at the completion stage of the audit, included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non- compliance with laws and regulations and fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, 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. Also, 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 deliberate concealment by, for example, forgery or intentional misrepresentations , or through collusion.

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

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 a Report of the Auditors 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.

Naresh Jani FCCA (Senior Statutory Auditor)

for and on behalf of Andertons Europe Ltd (Statutory Auditors)

1st Floor Mezzanine

35 - 37 Ludgate Hill

London

EC4M 7JN

27 February 2026

Turnover

3

6,285,460

2,877,500

Cost of sales

(1,824,122

)

(699,843

)

Gross profit

4,461,338

2,177,657

Administrative expenses

(3,379,441

)

(1,376,725

)

Operating profit

5

1,081,897

800,932

Interest receivable and similar income

4,154

-

1,086,051

800,932

Interest payable and similar expenses

6

(5,753

)

-

Profit before taxation

1,080,298

800,932

Tax on profit

7

(294,341

)

(239,945

)

Profit for the financial year

785,957

560,987

Profit for the year

785,957

560,987

Other comprehensive income

-

-

Total comprehensive income for the year

785,957

560,987

Fixed assets

Tangible assets

8

2,066,287

2,077,986

Current assets

Debtors

9

2,936,721

3,251,479

Cash in hand

1,398,818

188,135

4,335,539

3,439,614

Creditors

Amounts falling due within one year

10

2,342,955

4,543,957

Net current assets/(liabilities)

1,992,584

(1,104,343

)

Total assets less current liabilities

4,058,871

973,643

Creditors

Amounts falling due after more than one year

11

(2,275,388

)

-

Provisions for liabilities

12

(122,208

)

(98,325

)

Net assets

1,661,275

875,318

Capital and reserves

Called up share capital

13

1

1

Retained earnings

14

1,661,274

875,317

Shareholders' funds

1,661,275

875,318

The financial statements were approved by the director and authorised for issue on 27 February 2026 and were signed by:

A Asaduzzaman - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

1

314,330

314,331

Changes in equity

Profit for the year

-

560,987

560,987

Total comprehensive income

-

560,987

560,987

Total transactions with owners, recognised directly in equity

-

-

-

Balance at 31 August 2024

1

875,317

875,318

Changes in equity

Profit for the year

-

785,957

785,957

Total comprehensive income

-

785,957

785,957

Total transactions with owners, recognised directly in equity

-

-

-

Balance at 31 August 2025

1

1,661,274

1,661,275

Cash flows from operating activities

Cash generated from operations

1

1,482,988

2,447,439

Interest paid

(5,753

)

-

Tax paid

3,881

(87,798

)

Net cash from operating activities

1,481,116

2,359,641

Cash flows from investing activities

Purchase of tangible fixed assets

(334,975

)

(2,407,255

)

Interest received

4,154

-

Net cash from investing activities

(330,821

)

(2,407,255

)

Cash flows from financing activities

Amount introduced by directors

60,388

210,000

Net cash from financing activities

60,388

210,000

Increase in cash and cash equivalents

1,210,683

162,386

Cash and cash equivalents at beginning of year

2

188,135

25,749

Cash and cash equivalents at end of year

2

1,398,818

188,135

1.	Reconciliation of profit before taxation to cash generated from operations

2025

2024

£

£

Profit before taxation

1,080,298

800,932

Depreciation charges

346,674

324,265

Finance costs

5,753

-

Finance income

(4,154

)

-

1,428,571

1,125,197

Decrease/(increase) in trade and other debtors

314,757

(1,939,620

)

(Decrease)/increase in trade and other creditors

(260,340

)

3,261,862

Cash generated from operations

1,482,988

2,447,439

2.	Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2025

31.8.25

1.9.24

£

£

Cash and cash equivalents

1,398,818

188,135

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

188,135

25,749

3.	Analysis of changes in net funds

At 1.9.24

Cash flow

At 31.8.25

£

£

£

Net cash

Cash at bank and in hand

188,135

1,210,683

1,398,818

188,135

1,210,683

1,398,818

Total

188,135

1,210,683

1,398,818

1.	Statutory information

WILLIAM COLLEGE LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each assets over its estimated useful life. The principle rates in use are :

Plant & Machinery

25 %

on reducing method

Leasehold Improvement

10 %

on reducing method

Furniture & Fittings

25 %

on reducing method

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-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.

3.

Turnover

The company's turnover is derived from delivery of higher education services.

4.	Employees and directors

2025

2024

£

£

Wages and salaries

1,745,113

139,990

Social security costs

188,215

8,266

Other pension costs

33,647

1,883

1,966,975

150,139

The average number of employees during the year was as follows:

2025

2024

Academic

34

4

Administration

10

2

HR

1

1

IT

3

1

Marketing

2

1

Student Support

9

1

59

10

2025

2024

£

£

Directors' remuneration

-

-

5.	Operating profit

The operating profit is stated after charging:

2025

2024

£

£

Other operating leases

919,695

304,590

Depreciation - owned assets

346,674

329,269

Auditors' remuneration

5,809

5,175

6.

Interest payable and similar expenses

2025

2024

£

£

Interest payable

5,753

-

7.

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

270,457

141,620

Deferred tax

23,884

98,325

Tax on profit

294,341

239,945

8.	Tangible fixed assets

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2024

1,841,985

249,327

315,943

2,407,255

Additions

52,653

282,322

-

334,975

At 31 August 2025

1,894,638

531,649

315,943

2,742,230

DEPRECIATION

At 1 September 2024

184,198

66,085

78,986

329,269

Charge for year

171,044

116,391

59,239

346,674

At 31 August 2025

355,242

182,476

138,225

675,943

NET BOOK VALUE

At 31 August 2025

1,539,396

349,173

177,718

2,066,287

At 31 August 2024

1,657,787

183,242

236,957

2,077,986