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Registered number:
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
COMPANY INFORMATION
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EDUCATION TRAVEL & LEISURE LIMITED
CONTENTS
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EDUCATION TRAVEL & LEISURE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The director presents his strategic report for the period 1 September 2024 to 31 August 2025.
Business Overview
Education Travel & Leisure Limited operates in the purpose-built student accommodation (PBSA) sector, providing high-quality housing solutions to domestic and international students. The business focuses on leasing and managing PBSA assets in key university cities including London, Brighton, Leeds and Dublin. The company's mission is to deliver secure, modern, and well-managed accommodation aligned with evolving student expectations while providing long-term stable returns. The principal activity of the company during the year continued to be the renting and management of student accommodation. There have been no significant changes to this activity during the year. Market Overview The UK Purpose-Built Student Accommodation (PBSA) sector remained resilient during the 2024–2025 financial year despite ongoing economic uncertainty, inflationary pressures, and higher interest rates. Demand for student accommodation remained strong, supported by continued growth in domestic and international student numbers, particularly from non-EU markets such as China and India. UCAS applications continued to increase year on year, supporting high occupancy levels across the sector. The market continues to experience a structural undersupply of high-quality, affordable student accommodation in many university cities, driven by planning constraints, elevated construction costs, and slower development activity. PBSA assets continued to demonstrate strength through inflation-linked rental growth and stable occupancy performance. The sector also remained attractive to institutional investors seeking long-term, defensive income streams despite wider real estate market volatility. Strategic Objectives The company's strategic focus remains on: Expanding the portfolio within high-demand and undersupplied university markets; Maintaining strong operational performance and high occupancy levels through effective property management and student engagement; and Continuing investment in digital platforms to enhance the student experience, including booking, communication, and maintenance services.
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EDUCATION TRAVEL & LEISURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
REVIEW OF BUSINESS - Turnover for the year increased by 48% to £19,251,989 (2024: £9,307,073). However, this is due to the accounts being prepared for a full 12 months period, compared to a 7 month period previously. When the previous period is extrapolated to 12 months, there is a 21% increase in turnover. - Operating loss was £1,711,607 reflecting higher costs. - Net asset value stood at £3,067,287, down from August 2024 due to increase in creditors. Outlook for 2025-2026 The outlook for the UK (PBSA) sector for 2025–2026 remains positive, supported by strong underlying demand, limited new supply, and continued investor interest. Demand for high-quality student accommodation is expected to remain strong, driven by increasing domestic student numbers and continued international demand for UK higher education. Occupancy levels across major university cities are forecast to remain robust, particularly within undersupplied markets. The sector continues to experience a structural shortage of student accommodation, as development activity remains constrained by elevated construction costs, planning delays, financing conditions, and enhanced regulatory requirements. Rental growth is expected to continue during the 2025–2026 academic year, although at a more sustainable pace than in previous years, reflecting both strong demand fundamentals and ongoing affordability considerations for students. The company has also expanded its operational portfolio through the addition of a new 86-bed PBSA asset in Leeds, which commenced operations in October 2025. The director believes the Leed’s market continues to demonstrate strong long-term student demand fundamentals, supported by a large and growing student population and continued supply constraints within the city. The director will continue to monitor market conditions, regulatory developments, operating costs, and student demand trends closely while maintaining a focus on operational performance, occupancy, and sustainable long-term growth.
Financial risk management objectives and policies
The company is exposed to a range of financial risks including liquidity risk, credit risk, interest rate risk, and wider market risks associated with the UK PBSA sector. The director regularly monitors cash flow forecasts, working capital requirements, and financing arrangements to ensure the company maintains adequate liquidity and can meet its financial obligations as they fall due. Credit risk is managed through ongoing monitoring of receivable balances and maintaining relationships with reputable financial institutions. Interest rate risk is reviewed regularly in line with market conditions and borrowing requirements. The director continues to monitor economic conditions, inflationary pressures, student demand, and regulatory developments to support the long-term financial stability and growth of the business.
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EDUCATION TRAVEL & LEISURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Demand risk The company is exposed to changes in student demand, including fluctuations in domestic and international student numbers, visa and immigration policy changes, and wider economic conditions affecting affordability. The director mitigates demand risk by focusing on well-located assets in established university cities with strong long-term student populations and historically high occupancy levels. Occupancy performance and market demand are monitored regularly to support operational stability and long-term growth. Portfolio risk The company’s portfolio risk is managed through investment in well-located PBSA assets within established university markets that demonstrate strong student demand and limited supply. The director and management team regularly review asset performance, occupancy levels, market conditions, and operational efficiency to ensure the portfolio remains resilient and aligned with the company’s long-term growth strategy. Diversification across assets and locations also helps mitigate exposure to individual market or operational risks. Market risk The risk has been mitigated as for the 2025/26 academic year; the company secured more nomination agreements and in additional locations thus revenue is expected to increase. The majority of income is accounted for by High and Mid-ranked Universities and Language Schools, where Education Travel has long standing relationships. The company will maintain a close dialogue with its partners as their accommodation requirements for 2025/26 become clearer. In the event beds are not taken up by the companies’ various partners, the company is ready to shift its sales to a direct-let basis.
As the principal activity is the renting of student accommodation and management of leased property the key performance indicators continue to be within the provision of key business areas such as occupancy rates across the portfolio, rental income growth, operating profit margins, cash flow and liquidity levels and rent collection performance.
These measures are reviewed regularly to assess financial performance, operational efficiency and the long-term stability of the business.
This report was approved by the board on 28 August 2026 and signed on its behalf.
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EDUCATION TRAVEL & LEISURE LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The director presents his report and the financial statements for the year ended 31 August 2025.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £1,514,190 (2024 - loss £454,734)
The director who served during the year was:
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EDUCATION TRAVEL & LEISURE LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
During the year end BLS Burnells LLP resigned as auditors and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board on
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EDUCATION TRAVEL & LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDUCATION TRAVEL & LEISURE LIMITED
We have audited the financial statements of Education Travel & Leisure Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of income and retained earnings, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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EDUCATION TRAVEL & LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDUCATION TRAVEL & LEISURE LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is 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 Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's 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 Director's report.
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EDUCATION TRAVEL & LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDUCATION TRAVEL & LEISURE 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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙Ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the Company through discussions with directors, and from our commercial knowledge and experience of the relevant sector;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, are as follows - Companies Act 2006, FRS 102, Employment legislation and Tax legislation;
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and the audit team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions; and
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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EDUCATION TRAVEL & LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDUCATION TRAVEL & LEISURE LIMITED (CONTINUED)
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.
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 Auditor
Level 41A
Tower 42
25 Old Broad Street
London
EC2N 1HQ
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EDUCATION TRAVEL & LEISURE LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
REGISTERED NUMBER: 09414005
BALANCE SHEET
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 29 form part of these financial statements.
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EDUCATION TRAVEL & LEISURE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Education Travel & Leisure Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Accounting policies
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 financial statements have been prepared on an individual company basis. Stuhomes Briggate Studios Limited is not considered to be a significant component of the company and is not material to the financial statements. Accordingly, consolidated financial statements have not been prepared.
The following principal accounting policies have been applied:
The company incurred a loss during the year. However, the directors have prepared the financial statements on a going concern basis after reviewing the company's current trading position and cash flow forecasts.
Occupancy levels and booking performance have improved since the year end, with stronger forward bookings and increased revenues expected for the 2025/26 academic year. The directors have prepared forecasts which indicate that the company will have sufficient funds to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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EDUCATION TRAVEL & LEISURE 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, .
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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EDUCATION TRAVEL & LEISURE 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.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 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.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
The directors assess the market valuation of the investment property annually. Market valuation is based upon the directors knowledge and experience of the property market in which the company operates or on third party valuations if required. The directors annually assess whether the investment property is impaired. Impairment reviews consist of assessing a number of factors including impairment due to market conditions that may only be transient or factors that indicate permanent impairment. Impairment losses are recognised in the Statement of comprehensive income account.
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The 2025 valuations were made by Carter Jonas LLP, on an open market value basis.
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The Company operates a defined contribution 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 £39,205 (2024 - £81,177).Contributions outstanding £2,865 (2024 - £4,888) were payable to the fund at the balance sheet date in the current year.
The director has advances from the company and these are shown within other debtors. No interest has been charged on the loans and there is no fixed repayment date. Advances for the year totalled £153,247 and repayments totalled £230,001. The balance outstanding at the year ended 31 August 2025 was £757,047 (2024: £807,439).
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EDUCATION TRAVEL & LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The prior year financial statements have been restated to correct classification errors.
An investment property previously included within long leasehold assets has been reclassified to investment property. This amounted to £3,845,504. In addition, a further investment property with a carrying value of £965,000 has been reclassified from “Other debtors”. The prior year financial statements have also been restated to correct the movement in deferred income. This adjustment increased turnover and the reported profit for the prior year by £3,696,429. A further adjustment has been made to recognise prepayments relating to the prior year. This adjustment reduced cost of sales and increased the reported profit for the prior year by £895,153. The investment property adjustments relate solely to presentation and classification and have no impact on the reported profit for the prior year. The adjustments relating to deferred income and prepayments increased the reported profit for the prior year by a total of £4,591,582.
The company incurred a loss during the year. However, the directors have prepared the financial statements on a going concern basis after reviewing the company's current trading position and cash flow forecasts.
Occupancy levels and booking performance have improved since the year end, with stronger forward bookings and increased revenues expected for the 2025/26 academic year. The directors have prepared forecasts which indicate that the company will have sufficient funds to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
The ultimate controlling party is Mr Erhan Sengur by virtue of holding 100% shares in the company.
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