1.
General Information
Now Education Holdings Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
15259849
. The registered office is Fairlawns Studio, Tricorn House, 51 - 53 Hagley Road, Birmingham, West Midlands, B16 8TP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2.
Basis Of Consolidation
The consolidated group financial statements consist of the financial statements of the parent company Now
Education Group Limited together with all entities controlled by the parent company (its subsidiaries) and the
group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 August 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus postacquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Merger relief
In the prior period, the company issued shares in exchange for shares in one of the subsidiary companies, Now Education Group Limited. The restructure qualified to be accounted for under the merger relief rules under S612 of the Companies Act 2006 and has resulted in the creation of the merger reserve as shown in the balance sheet.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
2.4.
Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existences for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.5.
Significant judgements and estimations
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Impairment of debtors
On a period basis management makes an estimation of the recoverability of debtors, Management makes such estimations taking into account their knowledge of the company.
Investment and goodwill impairment
The investment in subsidiary companies and the goodwill arising on consolidation are reviewed on an annual basis by the directors for impairment and an adjustment made in the financial statement accordingly if required. The impairment is based on future budgets of the cash generating units.
2.6.
Turnover
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Temporary staff
The company recognises revenue in relation to the placement of temporary staff in line with the provision of the services provided by those staff.
Permanent staff
The company recognises revenue in relation to the placement of permanent staff at the point at which the staff member is placed with the customer.
2.7.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.8.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software development costs. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.9.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.10.
Investments
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
2.11.
Leasing and Hire Purchase Contracts
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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 leased asset are consumed.
2.12.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.13.
Financial Instruments
2.13.
Financial Instruments - continued
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured
reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
...CONTINUED
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
2.14.
Interest Payable
Bank interest payable is recognised on an accruals basis in accordance with FRS 102, Section 11 & 12 and is included within finance costs in the profit and loss account.
2.15.
Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.16.
Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
2.17.
Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Sales | 30,713,641 | 20,679,702 | |
4.
Operating Profit
The operating profit is stated after charging:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
7.
Average Number of Employees
Group
Average number of employees, including directors, during the year was as follows:
| 31 August 2025 | 31 August 2024 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
|
|
|
||
Company
Average number of employees, including directors, during the year was: NIL NIL (2024: NIL)
8.
Directors' remuneration
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
Information regarding the highest paid director was as follows:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
9.
Interest Receivable and Similar Income
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Interest received | 42,484 | 1,074 | |
10.
Interest Payable and Similar Charges
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Interest payable on other loans |
|
|
|
| Other finance charges |
|
|
|
| 2,230,783 | 1,460,624 | ||
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
11.
Tax on Profit
|
The tax charge on the loss for the year was as follows:
|
|||||
| Tax Rate | 31 August 2025 | 31 August 2024 as restated |
|||
|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Double taxation relief |
|
|
|||
|
|
|
||||
| Deferred Tax | |||||
| Deferred taxation |
|
|
|||
| Total tax charge for the period |
|
|
|||
|
The actual charge for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:
|
|||||
| 31 August 2025 | 31 August 2024 | ||||
| £ | £ | ||||
| Profit before tax | (2,073,266) | (1,577,912) | |||
| Tax on profit at 25% (UK standard rate) |
( |
( |
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Deferred tax from unrecognised tax loss or credit |
|
|
|||
| Total tax charge for the period | 135,527 | 102,039 | |||
12.
Prior Period Adjustment
During the year, the company reviewed the presentation of certain costs within the statement of profit or loss. As a result, amounts previously included within administrative expenses have been reclassified to cost of sales to better reflect the nature of these costs and align with current period presentation.
Comparative figures have been restated accordingly. This reclassification has no impact on operating profit, profit before tax, or net assets.
Changes to the income statement
|
As previously
|
Adjustment
|
As restated
|
|
|
reported
|
|||
|
Period ended 31st August 2024
|
£
|
£
|
£
|
|
Cost of Sales
|
14,854,887
|
1,444,690
|
16,295,661
|
|
Administrative Expenses
|
5,762,472
|
(1,444,690)
|
4,321,698
|
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
13.
Intangible Assets
Group
Company
| Goodwill | Software | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 September 2024 |
|
|
|
| Additions |
|
|
|
| As at 31 August 2025 |
|
|
|
| Amortisation | |||
| As at 1 September 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 August 2025 |
|
|
|
| Net Book Value | |||
| As at 31 August 2025 |
|
|
|
| As at 1 September 2024 |
|
|
|
The company had no intangible fixed assets as at 31 August 2025 or 31 August 2024.
14.
Tangible Assets
Group
Company
| Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 September 2024 |
|
|
|
|
| Additions |
|
|
|
|
| As at 31 August 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 September 2024 |
|
|
|
|
| Provided during the period |
|
|
|
|
| As at 31 August 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 August 2025 |
|
|
|
|
| As at 1 September 2024 |
|
|
|
|
The company had no tangible fixed assets as at 31 August 2025 or 31 August 2024.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
15.
Investments
Company
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 September 2024 |
|
| As at 31 August 2025 |
|
| Provision | |
| As at 1 September 2024 |
|
| As at 31 August 2025 |
|
| Net Book Value | |
| As at 31 August 2025 |
|
| As at 1 September 2024 |
|
Subsidiaries
Details of the company's subsidiaries as at 31 August 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- | |
|
|
|
|
- |
All Subsidiaries have the same Registered Office address: Tricorn House, Fairlawns Studio Ninth Floor, Hagley Road, Birmingham, England, B16 8TP
16.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 as restated |
31 August 2025 | 31 August 2024 as restated |
||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Prepayments and accrued income |
|
|
|
|
|||
| Other debtors |
|
|
|
|
|||
| Loans to directors |
|
|
|
|
|||
| Corporation tax recoverable assets | - |
|
|
|
|||
| Deferred tax current asset | - | 5,255 | - | - | |||
| VAT |
|
- | - | - | |||
|
|
|
|
|
||||
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
17.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 as restated |
31 August 2025 | 31 August 2024 as restated |
||||
| £ | £ | £ | £ | ||||
| Trade creditors |
|
|
|
|
|||
| Other loans |
|
|
|
|
|||
| Amounts owed to group undertakings | - | - |
|
|
|||
| Other creditors | 46,202 | 66,852 | - | - | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 132,587 | 822,216 | - | - | |||
| Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due After More Than One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 as restated |
31 August 2025 | 31 August 2024 as restated |
||||
| £ | £ | £ | £ | ||||
| Other loans |
|
|
|
|
|||
19.
Loans
An analysis of the maturity of loans is given below:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 as restated |
31 August 2025 | 31 August 2024 as restated |
||||
| £ | £ | £ | £ | ||||
| Amounts falling due within one year or on demand: | |||||||
| Other loans |
|
|
|
|
|||
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 August 2025 | 31 August 2024 as restated |
31 August 2025 | 31 August 2024 as restated |
||||
| £ | £ | £ | £ | ||||
| Amounts falling due between one and five years: | |||||||
| Other loans |
|
|
|
|
|||
Other loans is made up of two elements: (1) an invoice discounting facility provided by Santander, (2) loans arising on the acquisition of Now Education Group Limited, part of which was repaid after the year end and before the financial statements were authorised for issue. These loans accrue interest at a rate of 6% and 12% and are due for repayment in November 2028. All loans are secured by virtue of a fixed and floating charge over the assets of the company and cross guarantees from other members of the Group.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
20.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 11,835 | 9,290 | |
22.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 31 August 2025 | 31 August 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
23.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £47,266 (2024: £21,544).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
Now Education Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
24.
Directors Advances, Credits and Guarantees
During the year, the following advances were made to directors:
|
Description
|
%
Rate
|
Opening
balance
£
|
Amounts
advanced
£
|
Amounts
repaid
£
|
Amounts
written off
£
|
Closing
balance
£
|
|
Interest free loan repayable on demand
|
-
|
254,505
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
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</svg>){kind=small}
|
300,000
|
-
|
-
|
554,505
|
|
Total
|
254,505
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
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</svg>){kind=small}
|
300,000
|
-
|
-
|
554,505
|
The above loan is unsecured, interest free and repayable on demand.
At the balance sheet date, the amounts owed to directors was £nil (2024 - £4,506).
25.
Post Balance Sheet Events
Since the balance sheet date, dividends of £166,535 have been voted.
26.
Related Party Disclosures
Key management personnel (including directors) received compensation of £1,681,828 (2024: £1,316,050)
During the year the company wrote off loan balances with subsidiaries of £58,393 (2024: £470,940).
Non-controlling interests
During the year the group voted dividends to non-controlling interests of £178,370 (2024: £348,502), purchased shares in subsidiaries from non-controlling interests for a consideration of £200,000 (2024: £NIL) and sold shares in subsidiaries to non-controlling interests for a consideration of £NIL (2024: £277,905). At the balance sheet date the amount due from / (to) these related parties was £168,517 (2024: £192,425).
27.
Controlling Parties
The company's ultimate controlling party is
A Westworth
by virtue of their interest in the share capital of the company.
The address of Now Education Holdings Limited is Fairlawns Studio, Tricorn House, 51 - 53 Hagley Road, Birmingham, West Midlands, B16 8TP.
These financial statements are available on request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
28.
Exceptional Items
Exceptional items are disclosed separately by virtue of their size or nature to provide a clearer understanding of the Group’s financial performance. During the year, the Group incurred acquisition-related costs of £nil (2024: £168,582) and wrote off a third-party loan of £nil (2024: £16,000). The total exceptional charge recognised in the consolidated profit and loss account for the year amounts to £nil (2024: £184,582).