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Registered number:
(A company limited by guarantee)
For the year ended
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Company Information
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Contents
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Strategic Report
For the year ended 31 August 2025
The Company (Gen II) was established in 2000 and specialises in training in the Engineering, Nuclear and Manufacturing sectors. In May 2017, Gen II joined The City & Guilds Group.
Gen II currently operates from 5 training centres across Cumbria and employs over 100 employees, the majority of which are direct delivery staff. Through targeted development of commercial training, Gen II continues to grow its geographic and product portfolio. Gen II has developed many higher-level programmes to meet the needs of industry, including the suite of nuclear-related technology foundation degrees. The quality of teaching and learning is paramount, resulting in Gen II’s excellent success rates remaining above the national average. Collaborative working is a fundamental part of Gen II’s ethos. Gen II currently works with over 200 local and national clients delivering a broad range of programmes from Level 2 study programmes to Level 6 degree apprenticeships. Many of these programmes have been developed specifically for employers or in response to government initiatives. In developing programmes for local, national and international clients, Gen II proactively seeks out delivery partners, thus enhancing its own capability. In all aspects of developing programmes, Gen II responds to the needs of the client in delivering to time, quality and cost . Gen II has approximately 800 Apprentices in learning, including over 200 higher education students and continues to deliver short course training.
Gen II has had a positive trading year associated with increased revenue from the government’s Bootcamps programmes.
Revenue increased from £11.3m in the year ended 31 August 2024 to £13.0m in the year ended 31 August 2025. The Company has successfully reduced its cost base during the trading period, making significant staff cost savings and realising a profit on disposal of assets of £0.7m, resulting in improved profitability, with profit for the year of £1.17m (2024: loss of £1.75m). Net assets have increased from £2.9m at 31 August 2024 to £4.1m at 31 August 2025, with higher accrued income from Bootcamps revenue, while amounts owed to the parent company have reduced in the year from £1.9m 2024 to £0.5m due to greater cash generation. These working capital movements result in a cash balance at 31 August 2025 of £256k (2024: £348k).
Page 1
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Strategic Report (continued)
For the year ended 31 August 2025
Gen II’s high-level priorities going into the next financial year are to:
∙Deliver high quality training that meets the needs of learners and employers;
∙Maintain a strong reputation in the community;
∙Be financially sustainable;
∙Focus on the manufacturing and non-STEM markets and shortcourse growth; and
∙Be underpinned by a highly skilled and engaged workforce.
Gen II will continue to review its curriculum offer based on employer demand and performance. Additionally, Gen II will continue to look for cost saving opportunities in its existing operations to ensure that operating costs remain efficient for the business.
Gen II will continue to work with a range of stakeholders and partners, including the Department of Education, the Nuclear Decommissioning Authority, Sellafield Ltd, the Cumbria Chamber of Commerce, ECITB and the National College for Nuclear. Overall Gen II, with City and Guilds' support, has put in place both the team and the resources to drive the business turnaround in the financial year and is well placed to face the future challenges of the market. Financial KPIs Year ended 31 August 2025 Year ended 31 August 2024 Gross Margin 44.7% 44.6% EBITDA £1,842,351 (£766,862) Current Ratio 1.25 1.37 Principal risks and uncertainties Management has identified the following risks and uncertainties that may have an impact on the Company’s performance, financial position and future prospects. The directors are of the opinion that a thorough risk management process is adopted which involves the formal review of all the risks identified below. Where possible, processes are in place to monitor and mitigate such risks. Regulatory risk The Company operates across sectors that are highly regulated and is reliant on maintaining appropriate accreditations and compliance with industry standards. Failure to comply with applicable regulations, standards or accreditation requirements could result in loss of approvals, contract termination, financial penalties, reputational damage or restrictions on trading. The Company mitigates this risk through continuous monitoring of regulatory developments, ongoing engagement with industry bodies and dedicated compliance and quality management processes. Skilled workforce risk The Company requires the availability of suitably qualified and experienced trainers with specialised knowledge. There is a risk of skills shortages or the loss of key personnel in a competitive market, which may impact delivery capacity and training quality. The Company mitigates this risk through investment in trainer development, flexible delivery models including the use of subcontractors, and market competitive remuneration.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Strategic Report (continued)
For the year ended 31 August 2025
Market and sector dependency risk
The demand for the Company’s services is influenced by levels of activity and investment within the industries in which it operates, including a reliance on government-funded programmes. A downturn in a sector or change in the government’s funding approach could reduce demand for the Company’s services. The Company mitigates this risk by monitoring industry plans and market trends, maintaining flexibility in delivery models and its cost base and exploring options of diversity within its product lines. Financial and liquidity risk The Company is exposed to cash flow risks arising from payment delays, fixed cost commitments and fluctuations in demand. The impact of this risk is reduced liquidity which could impact operational and investment capacity. The Company mitigates this risk through active cash flow monitoring, cost management and working with its parent entity to maintain appropriate facilities.
This report was approved by the board and signed on its behalf.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Directors' Report
For the year ended 31 August 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
The directors who served during the year were:
The profit for the year, after taxation, amounted to £1,166,526 (2024 - loss £1,754,363).
During the year, a distribution of £nil (2024: £nil) was made to the Parent. The directors do not recommend payment of a final distribution.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Directors' Report (continued)
For the year ended 31 August 2025
On 31 October 2025, the ultimate parent undertaking, The City and Guilds of London Institute, completed the divestment of its commercial activities, which included the shares of the company being sold to City & Guilds Limited, in turn being acquired by the PeopleCert Group. The ultimate parent undertaking from this date is PeopleCert Holdings Europe Limited.
This transaction occured after the balance sheet date and therefore has no impact on the financial position of the Company as at 31 August 2025. Accordingly, no adjustments have been made to these financial statements. The sale has been disclosed as a non-adjusting post balance sheet event in accordance with FRS 102 Section 32 "Events after the end of the reporting period."
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Independent Auditors' Report to the Members of Gen II Engineering & Technology Training Limited
We have audited the financial statements of Gen II Engineering & Technology Training Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Independent Auditors' Report to the Members of Gen II Engineering & Technology Training Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Independent Auditors' Report to the Members of Gen II Engineering & Technology Training Limited (continued)
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 an Auditors' report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the industry and sector, control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations.
°Detecting and responding to the risks of fraud.
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory frameworks in which the Company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or that had a fundamental effect on the operations of the Company, including General Data Protection requirements, Anti-bribery and Corruption policy.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Independent Auditors' Report to the Members of Gen II Engineering & Technology Training Limited (continued)
Audit response to risks identified
Our procedures to respond to risk identified included the following:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
∙Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities;
∙Enquiring of management concerning actual and potential litigation and claims;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙Reading minutes of meetings of those charged with governance, reviewing internal audit reports and correspondence with regulators;
We have also considered the risks noted above in addressing the risk of fraud through management override of controls:
∙Testing the appropriateness of journal entries and other adjustments; we have used data analytics software to runs tests designed to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and 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 Auditors' report.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Independent Auditors' Report to the Members of Gen II Engineering & Technology Training Limited (continued)
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 an Auditors' report 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
3 Stockport Exchange
Stockport
SK1 3GG
Date: 21 May 2026
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Statement of Comprehensive Income
For the year ended 31 August 2025
Page 11
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Registered number: 03804696
Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 26 form part of these financial statements.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Statement of Changes in Equity
For the year ended 31 August 2025
Page 13
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Gen II Engineering & Technology Training Limited is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Centre for Advanced Manufacturing & Nuclear Skills, Blackwood Road, Lillyhall Industrial Estate, Workington, Cumbria, CA14 4JJ. The registered number is 03804696.
This principal activity of the company is the provision of short courses, apprenticeships, and education qualifications.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of The City & Guilds of London Institute as at 31 August 2025 and these financial statements may be obtained from the Charity Commission.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Gen II Engineering and Technology Training Limited (Gen II) ongoing business plans have been reviewed by The Directors and there is enough evidence to support the continued operations of Gen II moving forwards.
Of note is the return to profitability in FY25, driven primarily by bootcamp revenue. Whilst the government has now removed national bootcamp contracts, there is growth elsewhere in apprenticeship enrolments. In addition to the immediate growth, there are long term opportunities uniquely available to Gen II including Higher Education and Nuclear training opportunities. Furthermore, Sellafield has extended its contract with the company by an additional 20 months, until August 2028, giving more certainty on revenue and that relationship. Internally, headcount continues to gradually fall through natural attrition to keep expenses in line with operating revenue. For these reasons, the Directors are of the opinion that Gen II continues to be a going concern.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Page 16
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
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:
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.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Revenue recognition and work in progress The management of the Company exercises significant judgement in making an assessment of the stage of completion of contracts at the year-end and the appropriate amount of revenue and attributable profit to recognise. The Company has recognised amounts recoverable on contracts with a carrying value of £2,212,035 (2024: £1,775,845). There are no other significant estimates or judgements.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
The whole of the turnover is attributable to provision of short courses, apprenticeships, and education qualifications.
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Page 20
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
There were no factors that may affect future tax charges.
Page 21
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Page 22
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Page 23
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Page 24
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
Profit and loss account
Includes all current and prior period retained profits and losses.
Page 25
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Gen II Engineering & Technology Training Limited
(A company limited by guarantee)
Notes to the Financial Statements
For the year ended 31 August 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £272,400 (2024: £338,873). Contributions totalling £nil (2024: £nil) were payable to the fund at the balance sheet date.
During the year and at the year end, the ultimate parent company was The City and Guilds of London Institute, a company registered in England, company number RC000117. There is no overall controlling party of The City and Guilds of London Institute. The City and Guilds of London Institure is the parent company for the largest group of which group accounts are prepared.
Gen II Engineering & Technology Training Limited is exempt from the obligation to deliver consolidated accounts as its results and balances are included within the consolidated accounts of The City and Guilds of London Institute. Copies of the accounts of The City and Guilds of London Institute can be obtained from the Registrar of Companies. On 31 October 2025, the ultimate parent undertaking, The City and Guilds of London Institute, completed the divestment of its commercial activities, which included the shares of the company being sold to City & Guilds Limited, in turn being acquired by the PeopleCert Group. The ultimate parent undertaking from this date is PeopleCert Holdings Europe Limited.
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