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Registered number:
For the Year Ended
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LD Training Services Limited
Company Information
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LD Training Services Limited
Contents
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LD Training Services Limited
Strategic report
For the Year Ended 31 August 2025
The Directors present their annual report, including the Strategic Report and the Directors’ Report, along with the audited financial statements for the year ended 31 August 2025. The financial statements encompass the results for the year for LD Training Services Limited.
The Strategic Report is prepared to provide additional information to stakeholders, enabling them to assess LD Training’s strategies and the potential for those strategies to succeed. The Strategic Report contains forward-looking statements based on the information available to the Directors up to the time of their approval of this report. LD Training operates in partnership with higher education institutions and provides privately funded Institute of Financial Accountants provision. The principal activity of LD Training, in both the current and prior year, has been the provision of both Higher and Further Education. LD Training remains committed to delivering a student-centred learning experience that emphasises both academic and personal support to help students succeed. Our flexible approach ensures that students have access to the resources, guidance and learning environment required to achieve their goals. The organisation continues to place strong emphasis on employability, career progression, widening participation, student support and high-quality teaching and learning. During the year, LD Training continued to operate within a changing education environment, with ongoing developments across the higher education sector, evolving student expectations and increased emphasis on quality, outcomes and regulatory assurance. In response, the organisation has continued to strengthen its governance, compliance, financial planning and quality assurance arrangements. This includes further development of internal systems, committee oversight, student support structures and financial monitoring processes to ensure the organisation remains well positioned for long-term sustainability and future growth. The year also represented an important period of strategic development for LD Training. The organisation continued to strengthen its foundations for future delivery of its own higher education provision, while maintaining its established partnership activity and further diversifying its provision and income streams. This includes continued orderly management of existing partnership activity, development of further education provision, specialist SEND provision, learner support, and exploration of new opportunities in professional, employer-led and commercial education markets.
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LD Training Services Limited
Strategic report (continued)
For the Year Ended 31 August 2025
LD Training delivered a strong and resilient financial performance for the year ended 31 August 2025. Although turnover reduced to £9.4m from £10.2m in the previous year, this reflected the managed transition in certain partnership activities and wider changes within the higher education sector. The organisation responded effectively by controlling direct costs and maintaining operational efficiency, with gross profit remaining strong at £8.5m. Operating profit remained robust at £3.8m, demonstrating the strength of the underlying business model and the organisation’s ability to manage its cost base during a period of change. The company’s balance sheet also strengthened further, with net assets increasing to £17.4m from £15.0m in the previous year, supported by strong cash generation and prudent financial management. This provides a solid platform for continued investment in quality, student support, organisational resilience and future growth.
Student experience remained central to the organisation’s mission. LD Training achieved excellent outcomes in the 2025 National Student Survey, including an overall result of 94.39%, demonstrating strong levels of student satisfaction and reflecting the organisation’s continued commitment to high-quality teaching, personalised support and positive learner outcomes. The results showed particularly strong performance across key areas of the student experience, including teaching quality, mental well-being support, academic support, assessment and feedback, organisation and management, and student voice. These outcomes demonstrate the continued effectiveness of LD Training’s student-centred approach and reinforce the organisation’s reputation for providing a supportive, responsive and high-quality learning environment. During the year, LD Training continued to invest in its organisational structure and internal capability. The business further developed its operating model around key strategic areas, including academic delivery, student support, business services, risk and compliance, and external engagement. This structure has strengthened accountability, improved internal oversight and ensured that the organisation has the capacity to respond effectively to student needs, stakeholder expectations and future growth opportunities. The directors consider that the organisation’s continued investment in quality, student support, governance and operational capability provides a strong foundation for future growth. Overall, the directors consider that LD Training remains well positioned to support students, maintain quality and invest responsibly in future opportunities.
LD Training recognises that the education sector continues to face risks relating to student recruitment, funding arrangements, cost inflation, regulatory expectations and changes within partnership delivery models.
The Directors manage these risks through prudent financial planning, regular monitoring of performance, strong governance oversight and a continued focus on diversification. The organisation remains committed to reducing reliance on any single income stream, strengthening internal capability, developing future opportunities in a measured and sustainable way, and continuing to invest in areas of identified learner and community need, including SEND provision. Overall, the Directors consider that LD Training is well placed to manage its principal risks and uncertainties. The organisation maintains effective governance arrangements, prudent financial controls, a strong student-centred culture and a clear strategic direction for future growth.
The directors consider revenue and operating profit as the KPI's.
Other key performance indicators include no. of students and cohorts.
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LD Training Services Limited
Strategic report (continued)
For the Year Ended 31 August 2025
Looking ahead, LD Training remains focused on strengthening its long-term resilience, sustainability and educational impact through a controlled and phased diversification strategy. The organisation will continue to build on its established higher education experience, while developing the foundations to deliver more of its own provision in the future and strengthening progression opportunities across higher education, further education, specialist SEND provision and employer-led learning.
Future development will remain focused on enhancing student satisfaction and outcomes, maintaining high standards of teaching and learning, strengthening governance, compliance and quality assurance, and investing in staff, systems and student support. LD Training will continue to pursue growth carefully and responsibly, ensuring that any new provision is aligned with student demand, stakeholder needs, operational capacity and long-term sustainability. The Directors consider that the organisation is well positioned to build on its achievements, broaden its educational offer and continue delivering positive outcomes for students, staff, partners and the wider community. Stakeholder engagement will remain central to this approach, ensuring that students, staff, partners and wider stakeholders continue to play an important role in shaping the organisation’s future. In summary, despite ongoing challenges in the education sector, LD Training remains in a strong strategic position. With a clear focus on diversification, student satisfaction, staff wellbeing, quality enhancement, SEND provision and stakeholder engagement, the organisation is well placed to build on its achievements and deliver sustainable growth in 2025/26 and beyond.
This report was approved by the board on 28 August 2026 and signed on its behalf.
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LD Training Services Limited
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 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 judgments 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.
The profit for the year, after taxation, amounted to £3,153,213 (2024 - £3,484,938).
During the year the directors declared interim dividends of £707,100 (2024 - £836,241).
The directors who served during the year were:
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LD Training Services Limited
Directors' report (continued)
For the Year Ended 31 August 2025
The auditors, Mantax Lynton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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LD Training Services Limited
Independent auditors' report to the members of LD Training Services Limited
We have audited the financial statements of LD Training Services Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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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LD Training Services Limited
Independent auditors' report to the members of LD Training Services 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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LD Training Services Limited
Independent auditors' report to the members of LD Training Services 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 obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and relevant taxation legislation.
∙We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition, carrying value of intangibles and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.
∙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. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
∙These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
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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LD Training Services Limited
Independent auditors' report to the members of LD Training Services 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
Suite 207 Equitable House
7 General Gordon Square
United Kingdom
SE18 6FH
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LD Training Services Limited
Statement of comprehensive income
For the Year Ended 31 August 2025
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LD Training Services Limited
Registered number: 06994831
Statement of financial position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 27 form part of these financial statements.
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LD Training Services Limited
Statement of changes in equity
For the Year Ended 31 August 2025
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LD Training Services Limited
Statement of cash flows
For the Year Ended 31 August 2025
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LD Training Services Limited
Analysis of net debt
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
LD Training Services Limited is a company, limited by shares, registered in England and Wales. The company's registration number is 06994831 and has its registered office address at Stanmore Business & Innovation Centre, Howard Road, Stanmore, England, HA7 1FW.
The principle activity of the company during the year was the delivery of government funded degree and diploma programmes.
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 judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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LD Training Services Limited
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, as described below:.
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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LD Training Services Limited
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 has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Estimates and judgements have been applied in accrued income and provisions.
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
There were no factors that may affect future tax charges.
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Profit and loss account
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 £20,639 (2024: £20,270).
Contributions totaling £7,960 (2024: £9,041) were payable to the fund at the reporting date and are included in creditors.
During the year, the management has decided to reclassify few items which were historically reported in admin expenses into direct costs and comparatives have been restated to reflect such reclassification. This has an impact on gross profits but there is no change in operating profits or retained earnings or net assets.
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LD Training Services Limited
Notes to the financial statements
For the Year Ended 31 August 2025
The company is controlled by L Johnson by the virtue of her shareholding.
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