R•gl4torod numb•r: 2198970
Charlty numbor: 1042523
EUROPEAN COLLEGE OF BUSINES3
AND MANAGEMENT
FINANCIAL 8TATEMENT8
YEAR ENDED 31 AUGUST 2025
LUBBOCK FINE LLP
Chart•r•d Accounthnts
Pat•¥no8t•r Hou8e
85 St Paul'# Churchyard
London EC4M 8AB

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlt•d by Guarant••l
CONTENTS
Page
Reffrr•nc• and Admlnlstratlvo D•tallo ol the Charlty. Tr￿tee8 and Athl8•r¥
Tru•t•os' R•port
lrtdop•ndonl Audltor•' Repgrt on th• Fln•n¢lJl Statsrnènts
7-10
Slat•ment of Flnanclal A¢tlvltl••
11
8alanc• Sh••t
12
Stal•m•nt of Cash Flow8
13
Not•¥ to th• Flnanclal 8tstgm•ni•
14-24

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmltad by Guaranto01
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARtTY. IrJ TRUSTEES AND ADVISERS
FOR THEYEAR ENOED 31 AUGUST 2025
Tru8tso8
Dr U Hopp8
l Redemann
Dr E Thome
Company T•gl8t•r•d
number
2198970
Charfty r•gl#t•rnd
numb•r
1042523
R?gl•t•r•d offlc•
89-71 Gre81 Ea8t8m Street
London
EC2A 3HU
Prln¢lpal Op•rntlnq
Offlc•r
R 81118 IRe81gned on 15th October 20241
C Hemlng (Appointed 15th Octobar 20241
Ind•p•nd•nt •udltor•
Lubbock FSno LLP
Chortored A¢￿￿ntants
P81$rnosler House
65 Sl Paul'B Churchyard
Lendon
ECAM 8AB
Bank•r•
Barclay8 Bank plc
PO Box No 4578
155 Bromplon Road
London
SW3 1XD
Comm&￿bank
40300 DLMs8ldorf
Gerniany
Poge 1

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
{A company Ilmltod by Guaranto•1
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees pres8nt thair annual report, whlch includes th8 directoffs report. together ￿th the auditod flnanclal
statements ol the Charity for the year frorn 1 September 2024 to 31 Augusl 2025. The Annual R8POrt S8rves the
purposes of both a Trustees, report 8nd a direclors, repori under company law. The TNstees confimi that Ihe
Annual R8POrt and financial slalements of the Charity comply with the current Statutory requirernents, the
requirements of the Charilrfs governing document and th8 provisions of the Statement ol Recommended
Practice ISORPI applicable lo charllies prgparing Ih8lr 8ccounls in accordance bmth the Flnancial Reporting
Slandard applicable in the UK and Republic of Ir818nd IFRS102} leffeclive l January 20191.
Sinco tha Charlty quallfies as small under section 382 01 the Companies A¢1 2006, the Strategic Report required
ol medlum and large companies under tha Companles Act 2006 IStr8legic Report and Directors, Report)
Regulation8 2013 has been omitted.
Trustees
Thè Truslg98 who served the charity during the year w9rg as folk¢w5'.
Dr U Hoppe
l Redemann
Dr E Thorno
Oblectlv•• and Actlvltlo•
The Charity's roundin9 aims Bnd objectives remain unchanged, and are the adv8ncgmgnl of bu6ine53 8duc81ion
Ilnk8d to tralning for gmployment, Thls increases employability and the developmenl of fulure skills as required
by thè chan9ing buBlness and economSc landscap8.
Thg Charity, ha8 three cor8 v81u8s'. Value, Equily & Inclusion and Impact, 11 aims to support tho prole58ional and
person81 devglopmant of individuals who 8eek lo impfove thelr edu¢otlon and higher 8kllls lev818 in businoss,
whllst working. 11 ollers flexible. vocalional and higher education prograrnmes 88 W811 as a corporate vocational
training programme. The slr8tegieB lor achieving the Ch8rlty's aims and objectives includes dgvoloping
educ8tion and vocational programmgs that anable Individu81s lo study whllsl continuing In thelr caraers andlor
g8lning expedence at work. The Charfty provldes life-long leaming opportunities through lis buslness vo¢8lion81
Iralning and Hlgher Edu¢811on Bachelor uridergraduate programmes Ilevel$ 4.5 and 61 and offers p81hways lo
further study al M8sler5 and Doctoral levels, Furthermore, il develops and delivèrs cu81omised Irainlng lor non.
traditional students 8lroady, worklng to support Ihelr 1è8der8hip development. A core element ol the Charity's
8tralegy is Inclusion and it is committèd lo providing financial scholarships to ensuro students ore not
disadvantaged out ol IBck oi fin8ncial means or other feasons, which mighl olhgrw¥e prevent them from
benefitin9 from th& oducalion818ctivi118s provided.
Wllh 8n induslry-led approach ond long-slBnding re18tionships with employers such as Commorzbank, B8nk of
New York and Newion Asset Man8g&mtrnt. the Charlly operates the Higher Educollon Voc8tion81 Traineeship
scheme. In 2024-25 the number of young people r8crulled on to this progr8mme was 16 sludenls in year6 one
and two of the progr8mme, 13 continued onlo thelr Bachelor (Top Upl.
For the 2025-2026 acad¥mic yèat, th8r8 will be fewer recruits to th6 programm& and thergfore fewer on
programme overall 111 sludenlsl bul almost a 100Yo increase in those going on to the 88chelor Topup phase
112 slud9nlsl. This evidences a continued healthy racord of studént numbers on the programme in rocenl years,
and the scheme remains a stable offerin9. Thi5 prograrnme open5 UP the possibility ol a career In the financial
services sector to people who would nol necessarily have considered such an option land incr685ingly do not
have the financial moans to pursue a full lime, highgr educatSon degreè). 11 also provides a way lo increase
EqL1￿y. Diversity and Inclusion into the finance sector as it provides learning 8nd training opportunities lor local
P60pI8, and elhnically diverse s(aff, who are ovidendy unrler-repre8ented in the financial setvices industry in the
Cty of Lorbdon. This progommè activity aims to 8ddr9s5 this imbalance.
Page 2

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlt•d by Guarant••}
TRUSTEES. REPORT (CONTINUED)
FOR THE Y&4R ENDED 31 AUGUST 2025
The Chafity also provides subsidisad Intamatkjnal busln8$6 education lor slud8nt$ who take part In short
courses, Professional Development ProgrJrnmes, which enhance their understanding of cr055-cullur81 issues.
English language Skills and increas98 their international business knowledge and skills, which is of growing
irnportance for the country in these econornically challenging limes. The Charity seeks, through ils programmes.
lo develop wKler cultural and business knowledge ond awareness by provlding young people. and talent withSn
buslnèss, wllh tha aducalion and skllls to ¢omp&le 91ob8lly. The Charity Continuas lo (>flei this opportunily
through its offici81 branch in Dublin. Thèr8 18 Incr883ed d8rnand for these courses and we ar8 hoping lor
onllnued Incre858 in recruilmenl in the cornlng ac8demlc and finanaal year.
2024-25
Total Grou
23
Tot81 Students
464
8w Cll8nts.' Furst8nf8ldbru¢k114 students) and Miihldorf112 sludenlsl
2023-24
19
426
In Betting the objectives and planning tha aclivi1188 01 tha Ch8rily, tho Tru81¢09 havo glven c8reful conslderallon
ID the Charlty Commls$ion's gèner81 guidance on publlc benefit.
P•rlorman¢•
Oernand lor the Charitls programm85 IHNDICMLIBachelorl Postgraduate progrBmmes, and PDPS
IProfesslonal Dev8lopment Programmesll has 618bilised, wllh number8 of new students in¢reaslng Sn
comparison to the previou5 ye8r12023-241,
Growth 18 m051 notable with the P051graduate programmes. wh8re 11 ha8 Increased by 20% from the previous
year. The undergraduate programmes have also seen a mo(J*sl increase ol 8%, whilsl the founrlation level has
Been B decraas8 0119¥0 du6 lo IBW8r r9¢riJit¥, frotn the corpor8le3, on the HND progr8Fnmes lor 2024-25.
2024-25
35 studènts
78 students
2023-24
43 students
72 sludenl
Foundatlon
ro
rammès
CMLIHND
Bachelors Ilnc. Cofpofale employer
8rtn8rg
Post r8tluales
30 students
25 studen15
The Charity has increased its tuition fees for the Bachelors progrommes from Sprfng 2025 lo re118Ct UK
unNersily lee level increases. ScholBrships are now wid81y awardèd to provide acc889 to th8 programm8s.
The Charity has introduced Iwo new cour6e8 10 5trenglh8n 115 academic provision and meet th8 ngeds of new
demand from students for online learning. A new foundalion-level course, online IHN Flex) has been introduced
in Spring 2025, following the dlsconlinualion ol the CML prograrnme. to allow more students to progress lo the
Undergraduate courses. In addition, a lully onlit)tr Ba¢h¢lors programm¢ h8$ b¢trn inlrodu¢ed lo in¢rea$e
accessiblllty 8niJ tap into new 8tudgnl In8rke18, P8rticularly those 88eklng flexible learning options. These
ini1181iv98 ali9n with the Charity 8 values and objectives.
There have been higher costs due to Inflatson and extèrnal rent, ènij thls Is still reflected In tho financlal flourtss.
Howev&r, the Charity remains In a solvenl and viable position. The Ch8rily had complele¢J the Sale of its London
prerni5es, releasing capit81 to support the continued, fulure viability and sustainable expansion ol the Charity's
servic85.
The Charity now benefits from a strong rg8ervp a¥ a r83uII ol Ihe 3819 of the building and il now looks lo
con8olid8t8 It5 Posltion.
During the year. the Charity incurred several one-off costs Ilnked to str8leglc Inltlatlves. These Included a
Cctmprehensive rebranding campaign, a targeted re¢rullmeni drive and Invesiments in technological
inlraslructure lincluding the upgrade of digit81 le8min9 platforms, website redeveloprnent and new 8yStems such
as Xero and PlpèDriv81-
Page 3

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmitfyd by Guarant991
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDEO 31 AUGUST 2025
Slalflng adjustments were made to align resourees wlth programme delivery needs. A new rnanagement position
was filled to oversee our Professional Development Programm85 in Dublin. Conversely, one leaching position
was made redundant following a roview of leaching requirernents and student demand in London. These
changes reflect the Charity's ongoing commitment lo operational elfld8ncy whllst malntainln9 hi9h sl8ndard8 of
academic dellvery.
Finaneipl Review
The Charity recorded a deficit of £334,418 In th8 fin8nd81 year ending 31 August 202512024 - surplus ol
E2,483,2051.
Total funds held by the Charlty as 0131 AugL5sI 2025 are £3,325,85612024 £3.660,2741. The eherlly does not
hold any restrfcted funds and conl5nu88 to be 801v8nt.
In the pr&pandèmic èr8, th9 Charity's re58rv85 pollcy was lo build up r9serv88 9qUiV31enl lo Ihe value Ihislortc
costs) ol prgmisgs plus haw the annual turnov8r. Thls has bèen 8n irnportAnl policy, 8s Il has enabled th8
Charlly lo rn8lntain its operation5 dudng the financlal dirfi¢ullie$ caused by the pandemic.
After the Sale of the prop&rty in the 8Utumn 012024, the cash res6rv85 have b8en replenlghed. Tht reserv
policy 5s curranlly bolng reviewed as the opgrational model of the ECBM is b&lng adjust9d over the cour80 ol the
next 24 months. On cornplelion of this process the ￿SerVeS policy wlll be amended in lighl ol the future operaling
modBI and depending on the future requirern•nts In lèms ol prèmisè8.
The separate entlly operating In Dublin IECBM CLGI has flnalised Ihe Iiquidalion process in August 2025, and Its
funds have been dlstrlbuled lo European College of Buslness and Management (lot81 £48,2fj61.
Pl•no for futuro perlods
The outlook for 2025126 is thel Ih&108se8 01 the last financial y88r should be redu¢ed an¢J wg are aiming ltsr 8n
improved posilion, although 81111 predicting 8n operating deficit. Thè ovèrall aim rèm8lns lo ènsure that the
services ol the Charity continue lo be relevant an¢J sarva tha nèèds ol its b8nelici8ri85, and we are conlldent thal
we can 8uc¢essfully do so.
As part of ils ongoing $lr8legi¢ review, the Charity will discontinue a sm811 number ol undèrptsrforming
cournesllocotlons due lo declining demand in these courseslloc8tions. Thes8 changes 8W 8imed 81 streamlining
op¢r8lions and ￿811￿C￿lIon ol resources lo Breas ol hSgher growth potenti81.
DiBconlinued coursasAe&ching location8 are a3 follows.. CML and its subsequent Top-up ¢ourse$ In Spring18A
LondonlBA Garmanyl, AML, BA Munich, BA Berlin, and MA Foshion.
In par8llel. the College has Introduced a under9r8duale degree prograrnrne the Bsc Inlernatlonal Buslness
& Management with Liverpool John M¢)or•s, as well a5 new leaching location lor the undefgradua18 prograrnme
18Sc Hamburg). The Charity plan3 to reintroduce the DSMIM8A due to increased demand. The DSM
programme will now run two courses lone in Autumn. ano one In Spring) io increase intakes, 8nd the
subsequent MBA programme will start in Autumn 2026-27.
Furthermore, thè Chailly is looking lo develop and integrata Leadershlp Bnd MBt)agèm8nt 8du&4tion courses
(currently l•vel 71 lo support leadership training progr8mm85 deliv8r8d in-house by corporate5 Such as Bosch
and BMW. TD Bank Group has alsD Indlcaled Ihgif inl8re51 in joining the Higher Education vocats.onal
Traineeship scheme in 2026-2027.
As menuoned. the Charity has disposed of Ils property In Gr8at EBst8m Stregt and is now leasing th8 premises.
Page 4

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlt•d by Guarant•el
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2025
structure. Govemance and Manag•m•nt
Tha Europ&an Cdlage ol Business and M8nagernenl incorporated as a cornpany limiled by guarantee on 26
November 1987 and regist8r8d Bs a charity on 1 Decembor 1994.
11 is gov8rned by its Memorandum and Articles ol Assoclalion. Thare is a strong ralaUonshlp batwaon Ihg charfty
and the German British Chamb&r ol Industry and Commerce. The Chambèr is one of th& main supportgrs of the
Charity and has common board membors.
The appointment ¢1 truslèeB is regulated by the Charitl5 Memorandum and Articles of Association. The power of
8ppointtnent ol new Iru5tees lies wllh the members and existing Board ol Trusleas. Naw trustees ara recruitad
based on their allributes and lh& requirements ol th¥ Charily, and are laml11aris￿ wllh the work that th¥ Charity
undertake8 through meetings 8nd discusslons wllh the Bo8rd ol Trustees 8nd other employee8 01 the Charity.
The Board of Truste88 meets regularly during the year bul delegates the da￿lo.daY running and rnanag8rn8nt of
Ihg Ch8rily to the Prlnclpal Operallng Offlcor (who is the Director and CEO), who meets ￿th tha Chalrman af the
Board every month. Arrangements for selllng pay and remuneration of key management pgrsonnel are decided
upon by the Chairman and the Principal Operating Officer, 8nd general p¢li¢y18 to Increase 8laff remuneration lo
¢ompensale lor Infiallon plv5 a 8m811 incenlivo incroaso across tho board.
The Board ol Tru81ee8 regularly conducts o review of thé major r19ks to whlch tha Charlty Is axposad And ha8
established appropriate systems lo miligale these risks.
Statom•nt of Tru•to••' Re8pon8lbllltle•
The Tru31ees (who are also the d1￿Clor3 of tha Charity lor the purposes ol Company lawl are responsiblg for
preparing the Trustees. Report and Ihg linBncial slolemgnls In accordance wlh applicabl& law and Unile¢J
Kingdom Accounting Standards IUnit8d K￿ngdoM Gener8lly AcGepled Ar￿u￿ting Pr8clicel.
Company law r8quir98 the Tru51e86 to prepare financial statements for each financial y&ar. Und8r company law
the Trustees musl not approve the financial statements unless they are satisfied that they g￿e a true and lalr
view of the stale ol affairs ol the Charlty an(J of Ils Incoming resoureèg 8nd 8ppIIc8tion ol r8sourc8s. Includlng Its
income and expenditure, lor that period. In prepAring these financial statÈmènls, the Trustees are required to.,
select suitable aceountino pollclès and then 8pply thÉm consistently.,
observe the methods and prlnciples of th8 Charities SORP IFRS 1021;
make judgrnents Bnd accounting 8stlma1&5 that 8r8 re850n8bl8 8nd prud8nt.,
slate whether applicable UK Accounting Stand8rds IFRS 1021 have been followed, subject lo any
material departures disclosed and explalned In the lin8ncial stalemenls.,
prepare the linanclal statements on the golno con¢¢m basls unless 11 Is Inapproprtate lo presume that
the Charlly wlll continue in buslness.
The Trustees ara responsible for keeping 8d8qualè 8ceounllng recordg that arè Sufficient lo show ané exp18in
the Ch8ritys transactions 8nd disclose with reasonable accuracy al any lirne the financial position of the Charrty
8nd enablo them lo enBure thal the financial stalernents comply with the Companies Act 2006. They are also
responsible for safaguarding the assets ol the Charity and henco for taking r¥8son8ble slgps lor thg prgvenlion
and detectlon ol fraud and othgr irr8gularilies.
Page 5

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmltsd by Guarantsel
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2025
Dl8¢108ur• of Infonnatlon to Audltors
Eath of the per80ns who ar& TftJste88 at thè tlme when Ihls Trusteas. Report is approved has confirmed Ihal..
o far as that TrLtst88 Is aware. thare Is no relgV8nl audll Information ol whlch the chariVB auditors are
unaware, and
that Tru81ee has taken all the Steps that ought to hav8 baèn taken a5 8 Trustee in order to be awar8 of
any relevant audR infomiation and lo establSsh that the charfty's audhors Bre aware of that inforrnauon.
In preparfng thls rgport. the Tru8teO8 h8V8 taken advantBg8 of the 8rnall compAn186' axgmptbn provldgd ty
section 415A of the C￿npanth Act 2008.
Appl
edb
or of lh8 mombers ol th& board of Tru818es and $4gned on Ihelr behalf by..
Dr U Hoppe
Trusle
Dgtg..
?G ILO)12tr2 6
Page 6

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company limlt•d by Guarant••l
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF EUROPEAN COLLEGE OF BUSINESS AND
MANAGEMENT
FOR THE YEAR ENDED 31 AUGUST 202S
Opinion
We have audited the Ilnanelal statements ol European College of Business and Management Ilhe 'ehariWI for
the year ended 31 August 2025 which Comprise the Slalemenl ol Financial Aclivlties, the Balance Sheèt, th8
s&tament ol Cash How8 and the related notes. including a summary of 819nilicanl aGcounUng potiCi08, The
rinart¢ial r8POrting frarnework that has been applied in thèir prèparation is 8pplicable 18W 8nd United Kingdorn
Accounting Standards, including Financi81 Reportlng St8nd8rd 102 Yhe FinanciBI Reporting Standard applicable
in the UK and Republic of Iraland. IUnlt8d Klngdom Generally Acceplad Accounting Pracbcel.
In our oplnlon the financlal st8lem&nlg.'
glve a true and fail vlew of the stste of the charitable companls affairs as at 31 August 2025 8nLI of its
Incomlng r8sourc&s And Bppllcolion of resource5, Includlng its income and expendiiure lor the y&or thgn
ended..
have been property proporgd In aceord8nce wlth Unlled Klngdom Genorally Accepted Accounllng
Pr8cbce,' and
have b88n prepared In accordance ￿th th8 rgquiramants of the Companle8 Act 2006.
B•$l• lor oplnlon
We conducted our audit In accordance with Internation81 Sl8nd8rds on Auditing IUKI IISAS IUKII and applicable
law. Our responsibillties under those st8ndArds ar8 furthèr d8s¢rlbed In the AuditOT8' responsibllities lor the audit
ol the financial slalèmènls sèction ol our report. We are independent ol the charliable company in a¢¢or¢ance
wlth th8 alhl¢al r¢quiremenl8 th81 are relevant lo our audit of the financial $lalemenls in Ihe United Kingdom,
including the Financial Reporting Councll's Ethical Standard, anij we have fullllled our other eth5cal
rg8pon3ibililies in accordance with these requir8m8TIt5. We beliwe that Ihtr audit evid8ncè we have obtained is
sufficient and appropriate lo provid8 B b8sls for otsr opinion.
Conclu8lons r•latlno to golng concèrn
In auditing the financial statements, we h8Vg concluded that the Tru51ees' uso of the going concern basls of
accounting in the prep8rallon ol the Ilnanci81 stalernenls15 appropriate.
Based on the work we have p8rformgd. we have not identified any matèrial uncgrtainuos ralaling to ev¢nls Qr
conditions thAI. individually or colleclivdy, may cast signillcanl doubl on Ihg ¢harit8b19 ¢omp8nls ability lo
eonllnue 8$ 8 going concern for a poriod ol at least twelv& monlh5 from when the linanci81518lemenls are
8ulhor15ed for issue.
Our responsibililles and the responsibi111185 of the Tru8tpe$ with respect lo) going concern are descrtb8d In lh&
relevant section8 01 this report.
Page 7

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company IlmSted by Guarant891
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EUROPEAN COLLEGE OF BUSINESS AND
MANAGEMENT ICONTINUEDI
FOR THEYEAR ENDED 31 AUGUST 2025
Other Informatlon
The oiher Inlomatlon comprlsas th¥ Information included In the Annual Report other than the linancAal
statements and our Auditors, RÈport thereon. The Trustees are responsible lor the other information contained
wilhln th& Annual Report. Our opinion on the financial statements does nol Cover the other information and.
except to the extenl otherwise explicitly staled in our report, Wg do not 8xpr8SS any form of assurancg Conclusion
thereon. Our responsibility is to read the other Information and, in doing so, consider whether the other
inlormation is materially inconsistent with the financial slalemenls or our knovledge obtained in the course ol the
audit. or olheTr4ise Appears lo be mJlgrially misslal8d. 11 we identify such rnalerial inconsistencies or apparenl
m818rial miss181ernent5. we 8re requlred to datermine whether this gives rise to 8 material missl818mgnl in the
fin8ncial slaternenls themselves. 11, based on the w￿k we have p8rforrn¢d. we Condude that there Is a materfal
mi6Statement ol this other infomalion, we are rèqulred lo report Ihat lacl.
We have nothing lo report in this ragard.
Oplnlon on othor malt•r8 pr8scrlb•d by th• Comp•nl•$ Acl 2006
In our opinion, basad on th8 work und8rtaken in the course ol th8 audit-.
the Inlomiallon glven In thg Tru8l¢e8' Report for the fln8n¢i81 ygar lor which thè financlal 8lalemenl8 are
prepared is consislenl w5th the Ilnan¢lal 6ts1omgnl8.
the Trustees. Report has been prepared In accordance with appllcable legal requlremenls.
Matt•rs on whlch w• ar• r•qulr•d to r•port by •x¢•ptlon
In th8 light of our kno￿odge and und8r8lAndlng ol the charitable company and118 environment obtalned In the
coursg tsf th¥ oudil, wo havg not idènlifiad material rni6slatemenls in the Trustees, Report.
We have nothing to raport in iespeci ol the followlng matters In relauon to whlch Cornpanies Act 2006 r8qulre8
us to report lo you il, in our opinion..
dequale accounting records have not been kept, or relums adequalg for our audll hav& not been
received Irom branches not visited by us.. or
the financial slalernents 8ro Dol in agreement wlth the aceounting record$ and rolurns., Of
etsin disclosures ol Tru5tees' romuneration specified by law are not made., or
wè have not recelved all the information and gxplanalitrns we requim for our audlt., oi
the Trustees were not enlilled to prepare the financial slatamants in accordanca with the small companlès
regim8 and t8ke 8dv8nlage of the Small companies, exemptions in pr&paring tha Trust8¥5' Rèport and
from thg requlrernenl lo prep8re 8 Strategic Report.
Page 8

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
(A company Ilmlted by Guarnnt•o}
INDEPENDENT AUDITORS. REPORTTOTHE MEMBERS OF EUROPEAN COLLEGE OF BUSINESS AND
MANAGEMENT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2025
R8sponslbllltSès of tru$taè$
As explalnad more fully In the Trustees, Responsibillb'es Statement, ihe Trustees (who are also the dlwlors ol
the charitablè ¢trmpany for the purposes ol company lawl are ￿spOnSible ltsr the preparation of the financial
slalem8n18 and lor being satisfied that Ih&y giv$ a true and fair view, and lor 8uch intern81 control as the
Trustees determine is necessary to 8n8blg th& P￿p8ratIon ol fin8ndal stal8monts that ar8 free from materSal
mis8tat8menl, whèlhar iJu¢ lo fraud or error.
In preparing the linancial slatèm&nls, the Tru$tee5 are responsible for assessing the charitable companls abllity
to continu8 as 8 going concern. disclosing, as aP￿ICable, matters related lo going concern and using the golng
¢oncem basis ol accounting unless the Trustees ellher Intend lo Ilquidat6 tha charit8bl¢ company or lo cea80
OPgralion8, or have no realistic allemalivp bul lo do 8Q.
Audltorg. TeBpon8lbllltl•s for thg audlt ol th• flnancl818tat•m•nt•
Our objectives are to obtain reasonablè assurancg abc*ul whether th& financial slatemonlB as a whole are free
from material rnisstatemenl, whether ¢Jue lo fr8ud or grror, and lo issue 8n Auditors, Report thal includes our
opinion. Roasonable assurance is a high level ol 8ssur8nce. but 16 not a guarante8 that an audit conducted in
accordance with ISAS IUKI will alway5 detect a material mi5slalement when it exists. MisstBtemènts can arlsè
from fraud or errol 8nd 8re considered materlal if, IndivlduBlly or In the aggreg8te, they could r&8son8bly be
expected 1¢ influenc8 the economic declslons of us8r8 takèn on the b861s of Ihese fi'nancial statements.
Irragularitles. including fr&ud, ore inglanc8s of non-compliance wilh laws and regulauons. We design procedures
In Ilne wilh our responsibililles. ouuined 8bove, lo delecl rnalerial mis518lernenls in respect of irregularities,
Inclu(Jlng fraud. Th9 exlgni lo whlch our procedures are capable ol detecting irr8gularltles. including fraud Is
dglalled below..
In Idenlif￿'ng and assessing risks ol material mis6ts1emenl in respect ol IrreguladlS85, Includlng fraud and non
compli8nc• with law8 and re9ul8lions, we considered the following".
Enqulries ol management, inGluding obtalnlng arKI revlewing supporting documentatlon. concemlng the
company's pollciès and procedure8 relating lo..
Idonlilying, èvBluallng and complying wlh law8 and regulatlons and whelhef they Wer8 aw8r8 of any
insiances ol non-compliAn¢
detecting and responding lo the risk8 of fraud and whether they have knovledge ol any actual,
Buspecied or alleged fraud,. 8nd
the inlernal conlrols 9$18￿1$h8￿ lo milig81g ri8k8 r8lateiJ lo fraud or non-compliance of laws and
regulations., and
Discussions among the engaggm&nt tgam rogarding hE)w and where fraud might occur in the finanrAal
slalemenls and any potential Indicators of fraud. The engagement team in¢lude5 audit staff who have
extensive experience of working Wth èntlties in similar $¢ctors, and thi$ 8xp8rience was rdevanl lo the
discussion about where fraud risks may arise.
W6 also obtained an understanding ol the legal and regulatory IrBmework that tha charity oparatas in. locusing
on provisions of Ih05e laws and regulation5 thBt had direct 8ffect on the determin8ts.un ol rnaleri818rn0unts and
di5closure5 in the financial statgmtnls. Th8 key18ws and ragu181ions we conS￿ere￿ in this context induded FRS
102, the Companies Act. the UK charib.es Act, Charits'e5 SORP 2019 and the Higher Education SORP 2019.
In addition, we considered provisions ol other laws and regulations th81 do rK)t have 8 dirèct affect on the
rinanci81 slalements bul compliance with which may be fundamenl81 to the company5 ability lo operale or to
avoid a matelial penalty. Thes8 Included h881th and $8fèty regulations, employrnent law and environmental
regulations.
Pagè 9

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmltod by Guarant••l
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF EUROPEAN COLLEGE OF BUSINESS AND
MANAGEMENT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2025
As a result of these procedures, we considered the pBrticular areas that were susceptible to mi5Stat8ment due to
fraud WO￿ in resped of revenug rewgnillon and fflanag8menl overTid8.
Our procedur08 lo respond to risks identified included the Idlowng..
r8viewing thé fin8ncS81 slalement disclosures and testing to supporting documgnlation to assgss
complianc8 wlth provisions of relev8nl18ws and regulations described as having a direct ellect on the
linancial stat8m8nts',
enquirin9 01 manag8rn8nt conc8rnin9 aclu81 and potenti81 liti981ion 8nd cJ8ims'
performing analylical procedur8s la idenlify any unusu81 or un8xp8Cted r8lalion8hipB that ni8y indic818
risks of material misslatemènl due to IrAud'.
reading minutas ol mè61in9s ol those charged with gov8rnance',
performing proof in total to form an expectation of incomè kn¢J compAring to gclual incomo and vouching
a sample ol Btudenls frorn intakè lists to thè ganèral18dgèr lo vèrily complètèness ol incoma.,
in addr858ing th8 risk of fraud through man8gement ov•rrida of controls., assèssing wh8thèr the
ludgemenls mad8 in making accounting estimales are indicative ol a pol&nlial bias,. and 8valualing th&
rationale ol any signilicant Iransacknns that ar8 unusual or outside the n￿rnal cours8 ol the chgrill8
operations.
BecAug8 of the Inhèrent limitat￿>￿8 ol an audlt, Ih8r818 a rlsk that We ￿11 not delecl all irregul8rf1ies. inclLsding
thosè lèading to a material misstalemenl in the linancial slalements or non-compliance with ragulalion. This risk
Inue8se5 the rnore that compliance with a law or regulatitsn is removed from the events and trans8clion$
reflected In the financlal stalemanls, os wa will bè less Ilkely to becomè 8W8re of Instancès of non-compliance.
The risk is also grèatèr regarding irregularities occurring due lo Ir3ud rather than error, as fraud involve5
Inl8ntlong1 conc88lmenl, forgery. colluslon, oml851on or mIsrep￿senlaI1On.
A further d&scriplion ol our re8pon8ibililles for the audit ol the financial slalemenls 15 locat8d on th& Financial
R9POrting Council's webslle al.. www.f
klau
Thls descrlptlon forms part ol our
Auditors. Report.
U8• of our roport
Thls report Is made solely to the charltabl& comp8nVs mèmbèrs, As 8 body, In accordance wilh Chapter 3 of Part
16 01 th6 Companlas Act 2006. Our audil work has been undertaken 30 that we might Stale lo the charitable
comp8nVs membors Ih08e matters we a￿ required lo slate to them in an Audllors. Report and for no oth9r
purpose. To the fullest exlenl permSlled by law, we do nol accepl or assume responsibllity lo Anyone othèr Ittan
the charilable company and ils members, as a body, lor our Budit work, lur this r8POrt, or lor the opinions we
have formed.
Prf¥d
Hazra Patel (Senlor Sta￿10ry Audllor}
lor Bnd on behalf ol
Lubbock Fin* LLP
Chartered Accountants
Palern05ter Hous8
65 St Paul's Churchyard
London
EC4M 8AB
Oate.. 17 April 2026
Page 10

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA Company Llmit•d by Guaranta81
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
Total
funds
2025
Totsl
funds
2024
Not•
INCOME
Tuition f68s and educallon contr8Ct5
1.000,172
893,531
Inv8slmenl Income
100,447
75,563
Donatlons and legacies
48,266
2,173
TOTAL INCOME
1,148,865
971,267
EXPENDITURE
Cttarit8ble a¢llvllle8'.
Staff cc818
608,412
580,285
Olher operating expenses
875,727
679,304
Depreciation
2.808
13,725
Inleresl and other flnance coslg
14,4311
9,655
Loss on dlsposal ol flxed assets
987
1,579
TOTAL EXPENDITURE
1,483,303
1,284,548
NET MOVEMENT IN FUNDS BEFORE OTHER
RECOGNISED ILOSSESIIGAINS:
1334.41BI
1313,2811
OTHER RECOGNISED GAINSIILOSSESI
Gains on rev8lualion c>1 investment property
2,796,486
IDEFICITIISURPLUS FOR THE YEAR
1334.4181
2,4e3,205
RECONCILIATION OF RESERVES..
Total ros8rvos brought forward
3,660,274
1,177,069
Nel movam8nt in ￿8￿rves
1334,4181
2,483,205
TOTAL RESERVES CARRIED FORWARD
3,325,856
3,660,274
Th8 Slalemenl of Compreh8nsive Income iricludes all gains and losses recognised in the year.
All incom8 and expendlture In 2024 and 2025 related to unrestrlctgd rosarves.
All items ol Income and expenditure ielated to continuing activltlgs.
The notes on pages 14 to 24 fom part ol lttese fin8ncial slatern8nts.
Page11

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmltod by Guarant••l
REGISTERED NUMBER: 2198970
8ALANCE SHEET
AS AT 31 AUGUST 2025
2025
21124
Notè
NON-CURRENT ASSETS
Tangible fixed assets
Investment property
8,958
12.093
3,800.000
10
8,958
3,812.093
CURRENT ASSETS
Tr8de and other recewables
Invgstments
CB5h and cHsh equivalents
378,416
2.750,000
1,066,968
304,775
12
244,889
4,195,382
549,644
CURRENT LIABILITIES
Creditors.. amounts 18lling du8 wlthln onè
year
13
1878,4641
1701,4631
NET CURRENT ASSETS I LIA81LITES
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,316,898
1151.8191
3.325,856
3,660.274
NET ASSETS
3.325,858
3,660,274
CHARITh RESERVE8
un￿StriCt•d reserves
17
3,325,856
3,660,274
TOTAL RESERVES
3,325,856
3,660.274
Th8 financial 8tat8fflenls havg be8n prepared In accordance wlth the provisions applicable lo enlilies subj8cl to
the small companies regime.
The finan
ale
ants werg approved and aulhoiised for is8Uè
IheT
$l¢es and signèd on their bèhall by..
Dr U Hoppe
Trustee
l Redomann
Truste8
D8te'.
26 [05126
The notes on pages 14 to 24 lomi part ol these Ilnanclal stalemenls.
Page 12

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
(A company Ilm5tgd by Guar8nt••)
STATEMENT OF CASH FLOYIS
FOR THE YEAR ENDED 31 AUGUST 2025
2025
2024
Not•
Caih flaws from operatlng actlvltl••
Nel cash lused inyprovided by operats'ng o¢tfvStie8
19
1252,0051 1381,4391
C&#h flo￿ Irom Inv•stlng •ctlvltl••
Inv8Stm8nt Income r8ceivable
Purchase ol tangibl& fixed 88$gts
Proceeds from s818 of inv981fflenl properly
24,562
14601
3,800,000
75.563
110.5581
N•t ¢••h pro¥ld•d by Invostlng actlvltl••
3,824.102
65.007
Ch*n91 In ¢a•h and cash •qulvJl•nt8 In th• y•ar
Cash and ¢88h equiv8lent8 al the beginning ol the year
3,572,097
{316,4321
561.301
244.869
C••h •o)d c••h •qulval•nt• it th• ond of th• ymr
20
3,816,966
244.869
The note8 on pages 14 10 24 fomi part of Ihes• flnandal 8talements
Page 13

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlt•d by Guarant8•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
ACCOUNTING POLICIES
1.1 Bas1$ of pr•paratlon of flnanclal 8tstements
The financial stalemanls have been prèpared In 8ccord8nce with the Charities SORP IFRS 1021-
Accounllng and RoP42rting by Charilies." Slalement of Recowmended PraclSce applicable to charilles
preparing their accounts in 8ccordance with the Financial Reporting Standard applicable in tha UK
ond Republic of Ireland IFRS 1021 leffecliv8 1 January 20191, thè Finanual RBPOrtlng S18ndard
apFAicable in th8 UK and Republic ol Ireland IFRS 1021, the Statèm8nt of Racommgnded Practice
Accounting lor Further and Higher Education leNeclbve 1 January 20191 IFeiHE SORP 20191 and the
Companies Act 2006. Where dolfe￿nCets 8rlse between the Charlties SORP IFRS 1021 and the
FEIHE SORP 2019 tho FEIHE SORP takes precedgnce.
European College ol Business and Management maats the d8llnltlon of 8 publ1¢ benefll enllly under
FRS 102. A55els and liabilities arè initlally recognis¢d al hi31orical cost or Iran58clion value unless
otherwise slatod in th8 relavanl accounting pdicy.
1.2 Comp•ny •t•lu•
The Charity is a company Ilmitad by guaranteè. Thè membors of Ihe charflable company are the
Trustees named on page l. In the event ol the Charity being wound up, the liability in respect of the
guaranlee Is Ilmited lo £10 per rn8rnber ol the Charlly.
The regl8lpred office 8ddre55 end princlpol placa of business is 6￿71 Great Eag18m Slreel, London,
EC2A 3HU.
1.3 Ro8•TV•• accounllng
Gene181 lund8 are unreslrlcled funds whlch are avallgble lor et Ihe digcrelion of Ihe Trustees in
lurtherance ol the general oblactlvgs of the Chgrlty and thich have not beèn designated lor other
purposes.
Investmgnt income. g81ns and losses are allocated to Iho appropriate fund.
1.4 Incom•
All Incom8 Is recognised once the Charity has enlillemant lo th¥ Incom8, it 1$ probable that the
Income will be received and the amount ol income rècelvable can bg rnoasurtsd rellably.
Course fees and relaled Incom&, npl of diTeGI costs, are recognised in the period In which th• coursg
lakes place.
1.5 Int¢reBt recelvable
Interest on funds hEld on deposit 13 included when receivable and the amount cgn ba maasur8d
reliably by the Ch8rity', Ihis is normally upon nO￿lICall0n of the intere$l p8lU or p8yable by the
nslilulion with whom the funds are d6posited.
1.6 Expendltura
Expenditurè is recognised once there is a legal or constructive obliyatitsn lo transfer economic benefit
lo a third pariy, il is probable that a transfer ol bellefrts will be required in settlement and
Ihe amount of the obligation cBn b8 me85ured reliably.
Page 14

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmltod by Guarant•81
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
ACCOUNTING POLICIES ICONTINUEDI
1.6 Expendltur• Icontlnu•dl
Charilable activity costs incurr8d on the Charily's educational opèrauons, Includlng support costs and
costs re181ing lo the govtsmance ol the Charily apportioned to ¢hariiable activities.
l expenditure Is inclusive of irreeov&rable VAT.
Other op8r8tlng èxpènsas ¢8prè58nt Ih05e cost6 Incurred diracuy in support of 8xpandllur8 on th8
objeets ol the Charity and include project management and costs incurred in conn8Ction with
8dministraUon of the Charlty and compliance with constllullonal and 3talulory requlremenl8.
1.7 Tanglblo ff x•d a$$•18 and d•pr•¢iation
T8ngible fixed a88el8 8r8 carried al cost, not ol deprgcialion and any provlsion lor imp8irmenl.
Depreciation is not charged on freehold land. Depreclglion is provided 81 r8188 calcul818d lo wri18 off
the cost ol flxed assets, less their estimated r?5Idu&l v8lu8, OV8r their expecled us81ul lives on the
following basls..
D&pro¢181ion 18 provlded on the following bases..
Equlpment
Propariy improv•mènts
20Q/o130% reduelng ba18nBe120% 8lraSght line
5.10 51raighl line
1.8 Inv8StFn?nt property
Investment property Is cBrried at lalr valuè dèlèmlned annually by the trustees and derived from the
current o￿n markat. adlusled il ntscessary lor any diff8r8nce in the nature. localion or condltlon of
the sp&¢ifl¢ asstrl. No depreciation is provided. Ch8nge5 in lalr value ore recogni$ed in the Stalgm$nl
ol Comprehenslve Income.
1.9 Currr•nt A88•t Inv•8tm•nt8
Currenl asset inve51rnenls consist of deposil accounts wllh maturlty of more than 3 months bul le86
than 8 year. Currenl asset investrnenls a￿ recognlsed al Ihelr Iransacllcn c081 less Impairment.
1.10 Trad• and oth•r roeèlvAbl•$
Trade and olher debtors are recognised al the selllement amount after any trade discount offered.
Prepayments a￿ valued at tho arnounl pr8p8id net ol any Ir8de discounts due.
1.11 Cash and ¢o$h ¥qulv•lents
Cash and cash equlvalenls Includes cagh and short-tann highly Ilquid inveslmonls wllh a short
maturily ol threg month5 or 1855 from the dale of acquisition or opening of the deposS1 or simllar
account.
1.12 Liabilities and provlsions
Liabili11è5 are recognised when there is an obligation at Ihe Balance Sheet dale as a result ol a past
event. It is probable that a transfer of economic benefit will be required in settlement. and the amount
of th8 settlement can be eslimaled reliably. Liabililies a￿ r8cognigÈd at thè 8moLJnt th8t the Charity
8nts'cipales il will pay to sellle the debl or th8 amount it hys received 85 adv8nced payThents lor the
goods or services il must provide.
Pao& 15

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA Company limited by Guarantgel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
ACCOUNTING POLICIES (CONTINUED)
1.13 Flnanclal instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic linanclal
Inslruments. Baslc finanelal Instruments 8re inllially recognised al Irans8¢lion v8lue and subsequently
m08sur&d at Ihelr selUom6nl value with the 8xception ol bank loans which are subsequently
measured 818mortl8ed cost using Ihe effeciiv6 inlaresl method.
1.14 Ponslons
The Charlly opèratès 8 defirt￿ conlribuuon pension scheme and the pension charge fepre5en18 the
amounts payable by the Charity to the fund in respecl of the year.
1.15 Fornlgn currèncl•8
Monètary assels and liabilities denomln8led in foreign currencieB are translated into slerfing al rale8
of exchange rulin9 al the balanc8 6heet date.
Transacllons In forelgn cUr￿ncle6 are tranglalèd Into storllng at the ralè rullng on the dalè ol the
transactbn.
Exchange galns and losse8 are r8cogni8ed In the Stalern8nt of Comprehenslve Incom8.
ANALYSIS OF TUITION FEES AND EDUCATION CONTRACTS
2025
2024
Cours8 fees and related incom&
Discounts allowed
1,000,649
14771
884,091
1332
1,155
8,617
Other fees
Other Income
1.000,172
893,531
INVESTMENT INCOME
2025
2024
8ank Inleresl racelvabla
Rental income
93,271
7,176
3,741
71,822
100,447
75,563
Page 16

EUROPEAN COLLEGE OF BUSINESS AND IIANAGEMENT
IA ¢ompany Ilmlted by Guarnnte4)
PIOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
INCOME FROM DONATIONS AND LECACIES
2023
2024
Don8tions and gifts In kind
48.266
2,173
STAFF COSTS
2025
2024
Wages and salarfeB
Soc181 securlty co8ts
Conldbuuon lo d¢flned conlrlbullon pen8lon schemeB
531,274
58,371
18,767
513,178
51,163
15,946
608,412
580,285
The average numbef of persons amploy8d by tha Charfly during the year was as follow8:
2025
No.
2024
No.
Number of Locturers
Number of Adrnini8traUve 8leff
15
14
The numbgr ol omployees whose empl￿tt benefit5 lexdudlng am￿oYSr panslon costsl axce8ded
£60,000 w88..
2025
No.
2024
No.
In the b8nd £60,001- £70.000
In th& band £90,001- £100,000
In the b8nd £100,001- £110,000
None of the Trustees recelv8d any remun&r8llon, b•neflt8 In klnd or relmbur8emenl of expenses durlng
the yg8r12024- £nlll.
Total remuneratlon paid to key management Porsonnel was £137,626 (2024 - £120,355).
Page 17

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
(A company Ilmltsd by Guaranto•)
NOTES TO THE HNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
OTHER OPERATING EXPENSES
2025
2024
Advertlslng
Comput9r costs
AccommodatSon
External rent. rates and wot•r
Cleanlng
Repairs and rnalntenanc4
In8ur8nce
General expenB8
Travel
Auditors romun8r81ion
Consultancy
Tolephone
Exam lees and as80¢i&lgd
Prlntlng, postage and 8tgtlonory
LkJhl and heal
Bad debts
Staff tralning
L￿81 and profe88ional fee8
Ac￿Unt￿ncY
32.658
39,664
77,531
218,914
7.951
7.234
14.7S7
6.778
54,152
14,296
206,436
10,248
41,044
9.618
1.636
27,752
25,433
59,371
135,549
25,337
20,819
21,653
6,268
46,920
15,600
153,447
14,889
55,926
18,130
11,923
10,633
2,813
12,288
14,553
4.222
114.026
16,362
875,727
679,304
INTEREST ANO OTHER FINANCE COSTS
2D25
2024
Bank charg08
Forolgn currency IgainyIo8B
2,494
18,9251
4,907
4,748
14.4311
9,655
Pag& 18

EUROPEAN COLLEGE OF BUSINESS ANO MANAGEMENT
IA company Ilmltod by Guarantso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
NET INCOMING RESOURCESIIRESOURCES EXPENDED)
2D25
2024
Audilor8' rèmun6ration- Audit
Audltor8' romunw81ion- Other
Staff penslon ¢onlrfbuVon8
D•pr8ciation
Exehange1088
14.296
15,000
18,767
2,608
16,925}
15,946
13,725
4,748
TANGIBLE FIXED ASSETS
EquSpm•nt
Colt or v•lu•tSon
Al 1 September 2024
Addlllons
D1Jp0￿lS
60,506
114,4581
At 31 Augu81202S
46,508
0•pr•cl￿lOn
At 1 September 2024
Charg& lor th6 ￿ar
On digPO8818
48,413
2,608
113,4711
Al 31 Augus12025
37,550
N•t book valu•
Al 31 Augu812026
8,958
Al 31 AuguBI 2024
12.093
Page 19

EUROPEAN COLLEGE OF 8USINE8S AND MANAGEMENT
IA company 11m1t￿ by Guarants•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
10. INVESTMENT PROPERTY
Investment
propgrty
Al 1 Seplembor 2024
Dlsposals
3,800,000
13,8CK),0001
At 31 August 2025
Dudng the year, the Tru5tee8 sold the Iroehold property at 8￿71 Great Eastern Streel, London. The $819
of the property was completed on 18 Novernbor 2024 for Gonslderallon of £3.8m.
11. TRADE AND OTHER RECEIVABLES
2025
2024
Trade receivatles
Other debtors
Prepayment8 Bnd accrued Income
240,773
1.SOO
136.143
221,762
5,786
77,227
378.416
304,775
12. CURRENT ASSET INVESTMENTS
2025
2024
Unlisted Inve8lm8nl$ Iliquldl
2.750,000
Page 20

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlt8d by Gu•r4ntèal
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
13. CREDITORS.. Arnounts falling due wthln on• y•ar
2025
2024
Trade ¢redllor9
Other laxallon and so¢181 secvrlly
Other creditors
Acuuals and deferred incom&
75,241
11,859
243
33,651
17,096
20,702
630.014
791,141
878,484
701.463
2025
2024
Deler￿d income at 1 Sèptembor 2024
Resource5 d8lerr6d durlng the year
Amounts released Irom previous periods
474,976
619,4e4
1474,9781
511.878
474.978
1511,8781
61g,484
474,978
Defeired incomg r81alos to tulllon fea in¢omg recelved In advance lor cour3es dug lo cornrnence after 31
August 2025.
14. PENSION COMMITMENTS
The Charity oper81e$ 8 definod ¢onlribulion pension scheme in respect ol Its employe8s. The ass8t$ ol
thg scheme are held separ8loly from those of th8 Charfly In a separately administered fund.
The pension costs per the Stal8m&nt of Compreh8n8ive Income represent contributions due from the
cnmpany and 9mounl8d lo £18.76712024 - £15,946).
15. OPERATING LEASE COMMITMENTS
At 31 August 2025 the Charily had commitments lo make fulure minlmum lease poyTrents under non-
ancellable operating leases as follows..
2025
2024
Not laier than 1 year
17.277
Thè lol#l1oase paymen15 recognised as an expense were £99,18212024- £14,825).
Page 21

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA ¢ompany Ilmltgd by Guarant••l
MOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
18. OPERATING LEASE- LESSOR
AS at 31 August 2025 the tolal of th8 Charws futur8 minlmum 108$$ r•cglpls undor non.cancellable
OP8rating leases was..
2025
2024
Nol18ter than 1 yogr
2,199
2,199
Durlng th8 y9ar. Ihe Ch8r6ly 8old Its premlses, and Iherefore 18rrnlnated all18as88.
17. 8TATEMENT OF RESERVE3
STATEMENT OF RESERVES- CURRENT YEAR
Balanea at I
S•pt•mbor
2024
Bal•n¢e it
31 August
2025
Incom• Exp•ndlture
Unre•lrlcl•d R•s•rv•s
G9n&ral Re8erv&8
3.660,274
1,148,885 11.483,3031 3,325.856
STATEMENT OF RESERVES. PRIOR YEAR
Balance at 1
S•ptèmb•r
2023
Balanco at
Galn81 31 August
(Losses)
2024
Incom• Expendlturo
Unrostrlcted R•s•rv•8
Gengral R08erye8
1,177,069
971,267 11.284,5481 2,796,486
3,660,274
Page 22

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company IlmOt•d by GuarantO81
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST2025
1& ANALYSIS OF NET ASSETS BETWEEN FUNOS
ANALYSIS OF NET ASSETS BETWEEN FUNDS . CURRENT YEAR
Unr•Btricted
lunds
2025
Total
funds
2025
Tanglble flxed 888tls
Currenl a8sÉ18
Creditors due withln one yèai
8,958
8,958
4,195,382
4,195.382
1878,4841 1878,484
Tol•l
3,325,856
3,325,856
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestrlcted
funds
2024
Total
fund8
2024
Tangiblè fixed assels
Inve$lrnenl property
Cuirènl 888ets
Creditors due ¥thlhln one ye8r
12,093
12,093
3,800,000
3,800,000
549.644
549,644
1701.4631 1701,4631
Total
3,660,274
3,680,274
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
19. ACTIVITIES
2025
2024
Ngt èxpènditur8 for the year las per Statoment of Flnanclal Actlvllie81
1334,4181 1313.2811
Adlu•tments for.
Depreelallon Charge
Inv8strnènt Incom8 r8Cglvable
Loss on Iho $819 ol fix9d 8ssel8
Ilncreaselld8cr8ase In d8btors
Increaselldecreasel In creditors
2,608
193,2711
987
13.725
175.5631
1.579
16,790
124.6891
14,9321
177,021
Net cash usgd in operating activities
1252,0051 1381,4391
Page 23

EUROPEAN COLLEGE OF BUSINESS AND MANAGEMENT
IA company Ilmlted by Guaranto•1
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOEO 31 AUGUST 2025
20. ANALYSIS OF CASH AND CASH EQUIVALENTS
2025
2024
Cash and cash equivalents
3.816,966
244,869
Total caBh and cash equlvalents
3,816,966
244,869
21. ANALYSIS OF CHANGES IN NET DE8T
At1
S•ptomb•r
At31
2024 C•$h flow• August 2025
C8sh al bank 8nd In hand
Llquid inveslmenlg
244,869
822,097
2,750,000
1,066.966
2,750,000
244,869
3,572,097
3,816,968
21 RELATED PARTY TRANSACTIONS
As at 31 August 2025, an amount of £nll 12024 - £11.7651 w86 due lo ECBM Company Llmiled by
Guarantee, a company which hBs cornmon directors. The amouril is intere51 Iree, unsecured and
rep8y8ble on demand. Durin9 the ye8r ended 31 August 2D25 an amount of £48,266 was received on the
liquidalion ol ECBM Company Llmiled by Guarantee. The amount has been racognlsod a8 donatlon
income.
23. OMISSION OF STATEMENT OF CHANGES IN RESERVES
Given that the only movement whlch woul¢J bg shown on the Statement ol Changes in Reserves Is the
total ¢omprehenslve Oeflcil shown in the Stalernent of Cornprehensive Income, thls primary linanclal
$181gmenl has been omiited.
Page 24