Corinthian (London) Holdings Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—8
Consolidated Profit and Loss Account	9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11—12
Company Balance Sheet	13—14
Consolidated Statement of Changes in Equity	15
Consolidated Statement of Cash Flows	16
Notes to the Consolidated Statement of Cash Flows	17
Notes to the Financial Statements	18—29

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

Review of the Business

The Group operates as a holding company overseeing its subsidiary undertakings, which continue to provide services within their respective sectors. During the year, the Group remained focused on supporting the continued development and expansion of its subsidiaries through strategic leadership, operational support, and investment in growth opportunities.

The Group’s overall vision is to strengthen its market position, expand its customer base, and continue capturing additional market share through sustainable growth and operational excellence.

Business Review and Performance

The year ended 31 August 2025 represented a period of significant sales growth for the Group as the subsidiaries continued to expand their operations and strengthen their market presence.

Group turnover increased from £15.87m in 2024 to £19.63m in 2025, representing an increase of 23.7%. The Directors believe this reflects the success of the Group’s ongoing strategy to expand its market share and develop stronger customer relationships across the subsidiaries.

Gross profit for the year was £3.49m compared with £3.56m in the prior year. The gross profit margin reduced from 22.5% in 2024 to 17.8% in 2025, representing a reduction of 4.7 percentage points. The reduction in margin was primarily attributable to increased operational costs, competitive pricing pressures, and continued investment in business growth initiatives.

Net profit for the year decreased from £378k in 2024 to £164k in 2025. The net profit margin reduced from 2.4% to 0.8%, representing a reduction of 1.6 percentage points. The Directors consider this decrease to be consistent with the Group’s strategy of investing in operational capacity and future growth opportunities.

The Group’s liquidity position strengthened significantly during the year, with cash at bank increasing from £330k to £931k, an increase of 182.3%. The Directors believe this provides the Group with a stronger financial foundation to support future expansion plans and operational resilience.Key financial highlights are summarised below:

2025 2024

Turnover £19,635,506 £15,874,022

Gross Profit ( %) 17.8% 22.5%

Profit before tax £255,290 £434,755

Net Current assets £5,110,429 £5,629,985

The directors believe there are no non-financial KPIs that are of strategic importance to the group.

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Corinthian (London) Holdings Limited

Strategic Report (continued)

For The Year Ended 31 August 2025

Principal Risks and Uncertainties

The Group faces a number of business risks and uncertainties which could impact future performance. The Board continually reviews these risks and implements appropriate controls to mitigate their potential impact.

Economic Conditions

Changes in the wider economic environment, inflationary pressures, and reductions in customer spending could adversely affect demand for the Group’s services.

Competitive Market Environment

The sectors in which the subsidiaries operate remain highly competitive. Increased competition may place pressure on pricing structures and profit margins.

Cost Inflation and Margin Pressure

Rising employment costs, supplier pricing, and operational overheads may continue to impact profitability. The Group actively monitors costs and reviews pricing strategies to maintain sustainable margins.

Cash Flow and Working Capital

The Group recognises the importance of maintaining strong cash flow and liquidity. The significant increase in cash reserves during the year strengthens the Group’s ability to support future operations and investment plans.

Regulatory and Compliance Risk

The Group operates within regulated environments and remains subject to changing legal, taxation, and compliance obligations. The Directors work closely with professional advisers to ensure ongoing compliance with applicable regulations.

On behalf of the board

Mr Mark Hoskins

Director

27/08/2026

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Corinthian (London) Holdings Limited

Company No. 08816721

Directors' Report For The Year Ended 31 August 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 August 2025.

Principal Activity

The Principal activity of the company is of a holding company. The principal activities of its subsidiaries are as follows :

Corinthian Sports Limited - Public relations and communications activities.

Corinthian Travel Management Limited - Travel agency activities.

Corinthian Property Management Limited - Letting and operating of own or leased real estate.

Corinthian Investments Limited - Investments activities.

Directors

The directors who held office during the year were as follows:

Mr Mark Hoskins

Mr Gavin O'Callaghan

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Corinthian (London) Holdings Limited

Directors' Report (continued)

For The Year Ended 31 August 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

Independent Auditors

The auditors, Shaw Wallace, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Mark Hoskins

Director

27/08/2026

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Independent Auditor's Report

to the Members of

Corinthian (London) Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Corinthian (London) Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 August 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 August 2025 and of the group's profit/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 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 group and parent company's ability to continue as a going concern for a period of at least 12 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.

Other Matter

The financial statements of the Group and parent company for the year ended 31 August 2024, which form the corresponding figures for the current year, were not audited. Accordingly, the corresponding figures presented for the year ended 31 August 2024 are unaudited. Our opinion on the current year's financial statements is not modified in respect of this matter

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Independent Auditor's Report (continued)

to the Members of

Corinthian (London) Holdings Limited

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's 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. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report 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 group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are 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 directors determine is 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 directors are responsible for assessing the group and parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Corinthian (London) Holdings Limited

Auditor's 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 an auditor's 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.

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

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 applicable to the Group and the sectors in which it operates, and of how the Group is complying with those frameworks, through discussions with the directors and other management and from our commercial knowledge and experience of the sectors concerned. We focused on those laws and regulations that we considered to have a direct material effect on the financial statements, or a fundamental effect on the operations of the Group, including the Companies Act 2006, United Kingdom tax legislation, the applicable financial reporting framework (FRS 102), and, in respect of the Group's wider operations, data protection, anti-bribery, employment, and health and safety legislation.

We assessed the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur, by making enquiries of management as to where they considered there to be a susceptibility to fraud and their knowledge of actual, suspected and alleged fraud. To address the risk of fraud through management bias and override of controls, we performed analytical procedures to identify unusual or unexpected relationships, tested journal entries to identify unusual transactions, and assessed whether the judgements and assumptions made in determining the significant accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to, agreeing the financial statement disclosures to underlying supporting documentation, reading the minutes of meetings of those charged with governance, and enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error, as they may involve deliberate concealment or collusion.

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

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Independent Auditor's Report (continued)

to the Members of

Corinthian (London) Holdings Limited

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 that we are required to state to them in an auditor's 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.

Hitesh Gadhia ACA (Senior Statutory Auditor)

for and on behalf of Shaw Wallace , Statutory Auditor

27/08/2026

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Corinthian (London) Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 31 August 2025

Consolidated Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	19,635,506	15,874,022
Cost of sales		(16,139,853 )	(12,315,508 )

GROSS PROFIT		3,495,653	3,558,514

Administrative expenses		(3,126,108 )	(3,083,137 )
Loss on revaluation of investment property		(60,000 )	-

OPERATING PROFIT	4	309,545	475,377
Loss on revaluation of investments		(20,000 )	(2,396 )
Other interest receivable and similar income	9	5,604	23,188
Interest payable and similar charges	10	(39,859 )	(61,414 )

PROFIT BEFORE TAXATION		255,290	434,755
Tax on Profit	11	(90,836 )	(56,424 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		164,454	378,331

The notes on pages 17 to 29 form part of these financial statements.

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Corinthian (London) Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 August 2025

Consolidated Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	164,454	378,331
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT	164,454	378,331

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Corinthian (London) Holdings Limited

Consolidated Balance Sheet

As At 31 August 2025

Consolidated Balance Sheet

Registered number: 08816721

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		36,811		41,191
Investment Properties	13		435,000		495,000

			471,811		536,191
CURRENT ASSETS
Debtors	15	8,268,253		7,818,523
Investments	16	-		20,000
Cash at bank and in hand		930,922		329,803

		9,199,175		8,168,326
Creditors: Amounts Falling Due Within One Year	17	(4,088,746 )		(2,538,341 )

NET CURRENT ASSETS (LIABILITIES)			5,110,429		5,629,985

TOTAL ASSETS LESS CURRENT LIABILITIES			5,582,240		6,166,176

Creditors: Amounts Falling Due After More Than One Year	18		(6,537,422 )		(7,285,812 )

NET LIABILITIES			(955,182 )		(1,119,636 )

CAPITAL AND RESERVES
Called up share capital	20		2		2
Profit and Loss Account			(955,184 )		(1,119,638 )

SHAREHOLDERS' FUNDS			(955,182)		(1,119,636)

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Corinthian (London) Holdings Limited

Consolidated Balance Sheet (continued)

As At 31 August 2025

On behalf of the board

Mr Mark Hoskins

Director

27/08/2026

The notes on pages 17 to 29 form part of these financial statements.

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Corinthian (London) Holdings Limited

Company Balance Sheet

As At 31 August 2025

Company Balance Sheet

Registered number: 08816721

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	14		8		8

			8		8
CURRENT ASSETS
Debtors	15	411,437		411,437
Cash at bank and in hand		175		937

		411,612		412,374
Creditors: Amounts Falling Due Within One Year	17	(433,296 )		(432,917 )

NET CURRENT ASSETS (LIABILITIES)			(21,684 )		(20,543 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(21,676 )		(20,535 )

NET LIABILITIES			(21,676 )		(20,535 )

CAPITAL AND RESERVES
Called up share capital	20		2		2
Profit and Loss Account			(21,678 )		(20,537 )

SHAREHOLDERS' FUNDS			(21,676)		(20,535)

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Corinthian (London) Holdings Limited

Company Balance Sheet (continued)

As At 31 August 2025

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's loss for the year was £(1,141 ) (2024: £(3,519 ) loss).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Mark Hoskins

Director

27/08/2026

The notes on pages 17 to 29 form part of these financial statements.

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Corinthian (London) Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 August 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 September 2023	2	(1,497,969 )	(1,497,967)
Profit for the year and total comprehensive income	-	378,331	378,331

As at 31 August 2024 and 1 September 2024	2	(1,119,638 )	(1,119,636)


Profit for the year and total comprehensive income	-	164,454	164,454

As at 31 August 2025	2	(955,184 )	(955,182)

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Corinthian (London) Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 August 2025

Consolidated Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	986,155	85,400
Interest paid		(39,859 )	(61,414 )
Tax paid		(70,959 )	(98,246 )

Net cash generated from/(used in) operating activities		875,337	(74,260 )

Cash flows from investing activities
Purchase of tangible assets		(8,325 )	(15,715 )
Interest received		5,604	23,188

Net cash (used in)/generated from investing activities		(2,721 )	7,473

Cash flows from financing activities
Repayment of bank borrowings		(130,001 )	(128,220 )
Amount withdrawn by directors		(143,000)	(212,739)

Net cash used in financing activities		(273,001 )	(340,959 )



Increase/(decrease) in cash and cash equivalents		599,615	(407,746 )
Cash and cash equivalents at beginning of year	2	329,803	742,938
Foreign exchange gains/(losses) on cash and cash equivalents		1,504	(5,389 )

Cash and cash equivalents at end of year	2	930,922	329,803

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Corinthian (London) Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 August 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	164,454	378,331
Adjustments for:
Tax on profit	90,836	56,424
Interest expense	39,859	61,414
Interest income	(5,604 )	(23,188 )
Depreciation of tangible assets	12,705	13,970
Loss on revaluation of fixed assets	80,000	2,396
Foreign exchange (gains)/losses	(1,504)	5,390
Movements in working capital:
Increase in trade and other debtors	(338,444 )	(1,769,961 )
Increase in trade and other creditors	943,853	1,360,624

Net cash generated from operations	986,155	85,400

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	930,922	329,803

3. Analysis of changes in net (debt)/funds

	As at 1 September 2024	Cash flows	As at 31 August 2025
	£	£	£
Cash at bank and in hand	329,803	601,119	930,922
Debts falling due within one year	(130,000 )	-	(130,000 )
Debts falling due after more than one year	(458,447)	130,001	(328,446)

	(258,644)	731,120	472,476

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Corinthian (London) Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

Corinthian (London) Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08816721 . The registered office is 43 Manchester Street, London, W1U 7LP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and 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 functional currency of the Group is GBP.

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 August 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

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.

2.4. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.

2.5. Significant judgements and estimations

In the application of the company’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 estimatesare 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.

2.6. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.7. 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:

Leasehold	Over 5 years
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.8. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.9. 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.

2.10. Financial Instruments

The Group has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 in full in respect of all of its financial instruments.

Financial instruments are recognised in the balance sheet when the Group becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amount presented in the financial statements, only 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 trade and other 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 debt instrument 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 and are measured at the undiscounted amount of cash expected to be received, net of any impairment.

Other financial assets

...CONTINUED

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.10. Financial Instruments - continued

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 value cannot otherwise be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets measured at cost or 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 profit or loss. The impairment loss is the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed to the extent that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, amounts owed to group undertakings and loans from directors, 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. Debt instruments are subsequently carried at amortised cost using the effective interest method. Amounts payable within one year, and other short-term payables including balances repayable on demand, are measured at the undiscounted amount of cash expected to be paid.

Derecognition

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled, or when the Group transfers to another party substantially all of the risks and rewards of ownership. Financial liabilities are derecognised when the obligation specified in the contract is discharged, cancelled or expires.

2.11. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.12. Taxation

Income tax expense represents the sum of the tax currently payable and deferred 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 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.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Events activities	19,606,658	15,845,420
Rental income	28,848	28,602

	19,635,506	15,874,022

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	41,900	-
Depreciation of tangible fixed assets	12,705	13,970

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the group and company's financial statements	10,000	-


Other Services
Other non-audit services	11,000	-

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,330,655	2,274,634
Social security costs	414,975	437,402
Other pension costs	233,384	235,304

	2,979,014	2,947,340

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 44 (2024: 55)

Company

Average number of employees, including directors, during the year was: 2 (2024: 2)

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	485,172	477,603
Company contributions to money purchase pension schemes	180,000	180,000

	665,172	657,603

Information regarding the highest paid director was as follows:

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

	2025	2024
	£	£
Emoluments	485,172	477,603
Company contributions to money purchase pension schemes	180,000	180,000

	665,172	657,603

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	5,604	23,188

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	39,825	61,414
Other finance charges	34	-

	39,859	61,414

11. Tax on Profit

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

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	10,859	-
Deferred Tax
Deferred taxation			79,977	56,424


Total tax charge for the period			90,836	56,424

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	255,290	434,755

Tax on profit at 25% (UK standard rate)	63,822	108,689
Goodwill/depreciation not allowed for tax	31,682	47,156

...CONTINUED

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Tax losses utilised	(79,688 )	(152,029 )
Capital allowances	(2,034 )	(3,816 )
Short term timing differences	79,977	56,424
Difference in tax rates	(2,923 )	-

Total tax charge for the period	90,836	56,424

12. Tangible Assets

Group

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 September 2024	31,339	185,057	450	216,846
Additions	-	8,135	190	8,325

As at 31 August 2025	31,339	193,192	640	225,171

Depreciation
As at 1 September 2024	30,330	145,235	90	175,655
Provided during the period	606	11,989	110	12,705

As at 31 August 2025	30,936	157,224	200	188,360

Net Book Value
As at 31 August 2025	403	35,968	440	36,811

As at 1 September 2024	1,009	39,822	360	41,191

Company

The company had no tangible fixed assets as at 31 August 2025 or 31 August 2024.

13. Investment Property

Group

	2025
	£
Fair Value
As at 1 September 2024	495,000
Revaluations	(60,000)

As at 31 August 2025	435,000

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

The fair value of the investment property which is also the cost has been determined by the directors based on their knowledge of the property market and comparable market evidence available at the reporting date.

Company

The company had no investment property as at 31 August 2025 or 31 August 2024.

14. Investments

Company

	Other
	£
Cost or Valuation
As at 1 September 2024	8

As at 31 August 2025	8

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	8

As at 1 September 2024	8

Subsidiaries

Details of the group's subsidiaries as at 31 August 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Corinthian Investments Limited	43 Manchester Street, London, England, W1U 7LP	Ordinary Share	100.00%	-
Corinthian Property Management Limited	43 Manchester Street, London, England, W1U 7LP	Ordinary Share	100.00%	-
Corinthian Travel Management Limited	43 Manchester Street, London, England, W1U 7LP	Ordinary Share	100.00%	-
Corinthian Sports Limited	43 Manchester Street, London, England, W1U 7LP	Ordinary Share	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

	Capital and Reserves	Profit/(loss)
	£	£
Corinthian Investments Limited	(42,332 )	(20,148 )
Corinthian Property Management Limited	(1,031 )	1,889
Corinthian Travel Management Limited	(1,528 )	(29,179 )
Corinthian Sports Limited	(828,607 )	273,033

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	1,374,991	1,461,835	-	-
Other debtors	2,253,624	2,281,984	411,437	411,437

	3,628,615	3,743,819	411,437	411,437
Due after more than one year
Other debtors	4,639,638	4,074,704	-	-

	8,268,253	7,818,523	411,437	411,437

16. Current Asset Investments

	2025	2024
	£	£
Unlisted investments	-	20,000

17. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	3,042,041	1,633,876	-	-
Bank loans and overdrafts	130,000	130,000	-	-
Amounts owed to group undertakings	-	-	428,742	428,363
Other creditors	127,900	132,091	-	-
Corporation tax	62,409	74,246	3,054	3,054
Taxation and social security	426,754	471,987	-	-
Accruals and deferred income	299,642	96,141	1,500	1,500

	4,088,746	2,538,341	433,296	432,917

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

18. Creditors: Amounts Falling Due After More Than One Year

	Group
	2025	2024
	£	£
Bank loans	328,446	458,447
Accruals and deferred income	6,208,976	6,827,365

	6,537,422	7,285,812

19. Loans

An analysis of the maturity of loans is given below:

	Group
	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	130,000	130,000

	Group
	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	328,446	458,447

The bank loan relates to the Coronavirus Business Interruption Loan Scheme and repayments commence 13 months after the date the loan was drawn. The loan is secured by charges over the assets of the company.

20. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
2 Ordinary Shares of £ 1.000 each	2	2

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Corinthian (London) Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

21. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	180,564	3,024
Later than one year and not later than five years	176,928	-

	357,492	3,024

Operating lease commitments relate to the group’s rented premises, which are held under non‑cancellable operating lease agreements.

22. 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 the profit and loss account in respect of defined contribution schemes was £233,384 (2024: £235,304).

At the balance sheet date contributions of £16,925 (2024: £0) were due to the fund and are included in creditors.

23. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Mr Mark Hoskins	555,500	103,000	-	-	658,500
Mr Gavin O'Callaghan	430,833	40,000	-	-	470,833

The above loan is unsecured, interest free and repayable on demand.

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