Company No: 01997199 (England and Wales)

Contents

• Company Information
• Director's Report
• Accountants' Report
• Statement of Income and Retained Earnings
• Statement of Comprehensive Income
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

C J Fox

SECRETARY

S Takieddine

REGISTERED OFFICE	42 Bloomsbury Street
	London
	United Kingdom
	WC1B 3QJ
	United Kingdom

COMPANY NUMBER

01997199 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Salatin House
	19 Cedar Road
	Sutton
	SM2 5DA

The director presents his report on the affairs of The Canning School Limited, together with the financial statements for the year ended 31 March 2025.

PRINCIPAL ACTIVITIES

The principal activity of the company is English training and management development for business and professional people.

REVIEW OF THE BUSINESS

Turnover for the financial year amounted to £1,559,036 (2024: £1,711,503). The Company earned a profit after taxation totalling £20,001 (2024: £30,866).

The net current asset position of the Company as at the financial year end amounted to £510,099 (2024: net current asset £461,530).

The net asset position of the Company as at the financial year end amounted to £531,717 (2024: net asset £511,716).

DIRECTOR

The director who held office during the year and up to date of authorisation of this report was as follows:

C J Fox

GOING CONCERN

The director has considered the company's financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and have also reviewed the availability of banking facilities. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continuous to adopt the going concern basis in preparing the company's financial statements.

EVENTS AFTER THE FINANCIAL PERIOD

There have been no significant events between the year end and the date of approval of these financial statements which would require a change to, or disclosure in, the financial statements.

SMALL COMPANIES PROVISION STATEMENT

The directors have taken advantage of the small companies exemptions provided by sections 4148 and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors' report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved by and signed by the director:

C J Fox Director

22 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Canning School Limited for the financial year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, the Statement of Comprehensive Income, the Statement of Financial Position and the related notes 1 to 15 from the Company’s accounting records and from information and explanations you have given us.

We align ourselves to, but due to our growth funding structure we are not controlled by ACCA members and are therefore not a fully recognised member of, the Association of Chartered Certified Accountants. However, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

It is your duty to ensure that The Canning School Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Canning School Limited. You consider that The Canning School Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of The Canning School Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of The Canning School Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Canning School Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-audit-exempt-companies-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Canning School Limited and its Director as a body for our work or for this report.

Shaw Gibbs Limited

Salatin House
19 Cedar Road
Sutton
SM2 5DA

22 August 2025

	Note	2025		2024
		£		£
Turnover	2	1,559,036		1,711,503
Cost of sales		( 564,066)		( 650,677)
Gross profit		994,970		1,060,826
Distribution costs		( 205,745)		( 269,970)
Administrative expenses		( 779,761)		( 763,698)
Operating profit		9,464		27,158
Interest receivable and similar income		10,537		( 1,889)
Interest payable and similar expenses		0		5,597
Profit before taxation	3	20,001		30,866
Tax on profit	6	0		0
Profit for the financial year		20,001		30,866
Retained deficit at the beginning of financial year		( 428,410)		( 459,276)
Profit for the financial year		20,001		30,866
Retained deficit at the end of financial year		( 408,409)		( 428,410)

		2025		2024
		£		£
Profit for the financial year		20,001		30,866
Other comprehensive income		0		0
Total comprehensive income		20,001		30,866

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	7	41,618		50,186
		41,618		50,186
Current assets
Debtors	8	403,069		371,213
Cash at bank and in hand	9	680,250		675,781
		1,083,319		1,046,994
Creditors: amounts falling due within one year	10	( 573,220)		( 585,464)
Net current assets		510,099		461,530
Total assets less current liabilities		551,717		511,716
Provision for liabilities	11	( 20,000)		0
Net assets		531,717		511,716
Capital and reserves	12
Called-up share capital		263,775		263,775
Share premium account		229,545		229,545
Capital redemption reserve		446,806		446,806
Profit and loss account		( 408,409)		( 428,410)
Total shareholder's funds		531,717		511,716

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476; and
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
• The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

The financial statements of The Canning School Limited (registered number: 01997199) were approved and authorised for issue by the Board of Directors on 22 August 2025. They were signed on its behalf by:

C J Fox Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Canning School Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company's operations and its principal activities are set out in the director's report on page 2.

Going concern

The director has considered the company's financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and have also reviewed the availability of banking facilities. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continuous to adopt the going concern basis in preparing the company's financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' and in accordance with the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that asdisclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£)

Exemption from preparing a cash flow statement

The company qualifies as a small entity and in consequence has taken advantage of paragraph 7.1 B of FRS 102 not to present a statement of cash flows.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Revenue is shown net of value added tax.

Taxation

The tax expense for the period comprises current tax. Tax is recognised in the statement of income and retained earnings except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	depreciated over the life of the lease
Fixtures and fittings	5 years straight line
Office equipment	3 years straight line

Depreciation is charged so as to write off the cost of assets over their estimated useful lives.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank.

Debtors

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Stock

Inventories are stated at lower of cost and net realisable value.

Creditors

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as charge to the Income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interestpayable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Rentals payable under operating leases are charged to income statement on a straight-line basis over the period of the lease.

Assets acquired under finance lease are capitalised and depreciated over the shorter of the leaseterm and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the lease and represent a constant proportion of the balance of capital repayments outstanding.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Pensions

The company operates a defined contribution pension scheme. Contributions are charged in the income statement as they become payable.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. Turnover

Turnover represents the fair value of goods/services provided to customers during the financial year excluding value added tax.

Turnover is wholly attributable to the principal activity of the Company and arises solely within the United Kingdom.

3. Profit before taxation

Profit before taxation is stated after charging/(crediting):

	2025		2024
	£		£
Depreciation of tangible fixed assets (note 7)	8,568		8,575
Foreign exchange losses	2,165		10,535

4. Staff number and costs

	2025		2024
	Number		Number
The average monthly number of employees (including directors) was:
Production	5		5
Administration and support	1		1
Marketing	1		1
	7		7

Their aggregate remuneration comprised:

	2025		2024
	£		£
Wages and salaries	680,465		670,139
Social security costs	69,267		59,038
Other retirement benefit costs	58,645		55,221
	808,377		784,398

5. Director's remuneration

	2025		2024
	£		£
Director's emoluments	119,597		113,074
Company contributions to money purchase pension schemes	13,960		13,296
	133,557		126,370

6. Tax on profit

	2025		2024
	£		£
Current tax on profit
UK corporation tax	0		0
Total current tax	0		0
Total tax on profit	0		0

Tax reconciliation

The tax assessed for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK:

	2025		2024
	£		£
Profit before taxation	20,001		30,866
Tax on profit at standard UK corporation tax rate of 25% (2024: 25%)	5,000		7,717
Effects of:
Depreciation	2,142		2,144
Capital allowance	(103)		(1,212)
Effect of unrecognised tax losses	(7,039)		(8,649)
Total tax charge for year	0		0

7. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	100,621		142,003		187,713		430,337
At 31 March 2025	100,621		142,003		187,713		430,337
Accumulated depreciation
At 01 April 2024	53,914		138,524		187,713		380,151
Charge for the financial year	7,704		864		0		8,568
Transfer of assets	0		0		0		0
At 31 March 2025	61,618		139,388		187,713		388,719
Net book value
At 31 March 2025	39,003		2,615		0		41,618
At 31 March 2024	46,707		3,479		0		50,186

8. Debtors

	2025		2024
	£		£
Trade debtors	288,333		264,455
Other debtors	38,809		44,069
Prepayments and accrued income	75,927		62,689
	403,069		371,213

9. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	680,250		675,781

10. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	92,660		82,648
Accruals and deferred income	470,406		493,912
Other creditors	10,154		8,904
	573,220		585,464

11. Provision for liabilities

	Other		Total
	£		£
At 01 April 2024	0		0
Charged to the Statement of Comprehensive Income	20,000		20,000
At 31 March 2025	20,000		20,000

The other provision represents the dilapidation provision based on the directors' best estimate of the cost of bringing certain premises, held under operating lease, back to their original state as required by the lease agreement.

12. Called-up share capital and reserves

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,637,745 Ordinary shares of £ 0.10 each	263,775		263,775
Presented as follows:
Called-up share capital presented as equity	263,775		263,775

The company has one class of share capital which carries no right to fixed income.

The Company's other reserves are as follows:

The share premium reserve contains the premium arising on issue of equity shares, net of issue expenses.

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

The capital redemption reserve represents amounts arising from the purchase of own share capital.

13. Events after the Balance Sheet date

There have been no significant events between the year end and the date of approval of these financial statements which would require a change to, or disclosure in, the financial statements.

14. Operating Lease

Operating lease Commitments

	2025		2024
	£		£
Within 1 year	110,000		110,000
Within 2- 5 years	550,000		550,000
Over 5 years	100,833		210,833
	760,833		870,833

The amount of non-cancellable operatin lease payments recognised as an expense during the year was £110,004 (2024 - £110,004).

15. Controlling party

The Canning Employee Trust owns 100% of the company's issued share capital.