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← London School Of Osteopathy

2025-08-31-accounts

London School of Osteopathy

(A Company Limited by Guarantee)

Company No. 04037209 Charity No. 1085391

Report and financial statements For the year ended

31 August 2025

London School of Osteopathy

For the year ended 31 August 2025

Contents
Page
Reference and administrative information 1
Trustees’ annual report 2-8
Independent auditors’ report 9 -11
Statement of financial activities 12
(incorporating an income and expenditure account)
Balance sheet 13
Statement of cash flows 14
Notestothefinancialstatements 15

London School of Osteopathy

Reference and administrative information

For the year ended 31 August 2025

Trustees: Chair Andrew Duguid
Trustee Linda Gregory
Trustee Vicky Morgan
Trustee Yelena Walters
Trustee lan Harrison
Trustee Amran Hussain (resigned 01.04.25)
Trustee Alan Bennetts
Trustee Natalie Schoon
Company Secretary: Nigel Martin
Chief Executive: Fiona Hamilton
Company number: 04037209
Charity number: 1085391
Registered office: 12, Grange Road, London, SE1 3BE
www.I so.ac.uk
Auditors: Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG
www.goldwins.co.uk
Bankers HSBC Lloyds Bank PLC
Retail Unit 8 25 Gresham Street
38 Canada Place London
Canary Wharf EC2V 7HN
London
E145AH

]

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report

The trustees, who are also directors under company law, present their report and financial statements for the year ended 31 August 2025.

The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The London School of Osteopathy is a registered Charity, whose objectives are: ‘the advancement of the science and practice of osteopathy for the public benefit and the education and training of persons in this subject.’ The LSO Charity is primarily active through the osteopathy courses and clinic. The school has a Senior Management Team (SMT) who give effect to the vision of the Board, and manage the day to day affairs.

The LSO currently only provides degree level education in osteopathy. There are four courses: e BSc (hons) Osteopathy — full-time or part-time

e MOst (an undergraduate integrated Masters degree) - full-time or part-time.

The courses are validated by Anglia Ruskin University, and accredited by the General Osteopathic Council.

The programme is managed and delivered at the London School of Osteopathy, Bermondsey London SE1, with the teaching clinic at Bethnal Green, London E2.

Clinical education is a fundamental element of the courses. The costs of running the clinic are subsidised by the fees paid by patients. Fees are modest, and concessions are available, in keeping with the charitable aims of the LSO.

Mission:

To be an effective, efficient and supportive learning organisation committed to the generation, provision & development of high quality osteopathic education and research which meets the needs and requirements of all stakeholders. The LSO will continue to make significant contributions to the health care of its diverse local population.

2

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report

Public benefit

The outpatient teaching clinic provides low cost and subsidised osteopathic healthcare to the local community. Patients confirm that for many recipients, if the LSO clinic were not present, there would be no provision for musculo-skeletal health needs, particularly those with complex or chronic problems. The clinic runs at a loss, and is subsidised by student fees. This is appropriate as the teaching clinic forms part of their osteopathic training.

The LSO offers four pathways all leading to access to the statutory register for osteopaths (under the auspices of the General Osteopathic Council). Two are at Bachelor's level, and two at Master's level. Both full-time and part-time options are available, to give the widest and most flexible choice options. Many of our students come to osteopathy as 2nd career choices, and balance work and home lives with study. During their studies (and on graduation) students contribute to the health and wellbeing of the local population, both through the teaching clinic, and through research undertaken in the final stages of the Master’s pathway.

Achievements and performance

Reporting performance

Inputs Activities Outputs Outcomes Impact
¢ Design of ¢ Delivery of Professional # Acquisition of # Personal and
the MOst/ the MOst/ & vocational knowledge and skills,
BOst BOst training. participation in development.
pathways. pathways. 4 Patients research, and transition
# Graduates join
¢ Outpatient seen at the to autonomous GOsC and
teaching clinic. teaching osteopathic practice. contribute to
clinic. Improved patient healthcare in their
health; education locality.
regarding posture, ¢ Patient access to
exercise, lifestyle etc. osteopathic
healthcare.
Course completions: Classifications awarded 2024-25
pT
 6
 222%
Upper Lower
es LE second second
44.4%		 Third
11%

3

London School of Osteopathy For the year ended 31 August 2025

Trustees’ report

With regards the teaching clinic, in past years over 7,000 appointments were delivered to a diverse patient base, ranging from 1 week to over 90 years old, across the socio-economic spectrum. A high proportion of these appointments were at concessionary rates (for example elderly, children, jobseekers). The gradual resumption of services post COVID shutdown has seen a welcome return to on-site activities and the withdrawal of telehealth (although this is still available for the initial case history if a patient prefers this option). Numbers remain at about 65% of pre-pandemic levels.

Financial review

The Charity made a surplus of £212,498 for the year ended 31 August 2025 compared to a surplus of £215,880 in the previous financial year. All of the surplus relates to unrestricted funds except for £5,000 surplus (2024: £68 deficit) relating to restricted funds. There were no periods of operating at a deficit. Overall, income increased by 5.3% whilst expenditure increased by 6.6%.

The main income stream is via student fees. These increased by 6.3% to £1.01m due to higher student recruitment and overall student numbers. Related grant funding from the Office for Students, determined by grant rates applied to the number of full-time equivalent students following each mode of study, increased by 5.5% to £182k.

Income from the outpatient clinic increased by 5.6% to £155k mainly as a result of increased patient bookings. Room hire income increased to £22k (2024: £9k) following extensive marketing efforts. There was no material income from legacies during the year (2024: £23k).

Restricted income/surplus of £5,000 is due to a grant approved from Southwark Council's Community Energy Fund to fund a pre-feasibility study into green energy options to take place during 2025/26. There were no movements on the Hospital Saturday Fund or the Robin Kirk Legacy Fund restricted funds during the year. The increase in expenditure of £74k comprises: increased staff costs (£52k) primarily due to the impact of National Insurance rate and threshold changes introduced from April 2025 and necessary increases to staffing resources as a result of increased student and clinic patient numbers, increased student bursary costs (£3k), an increase in business rates due to a backdated charitable relief claim in the previous year creating a credit in that year (£41k) and an increase in light & heat costs (6k); offset by reductions in franchise payments due to the validating university ARU (£7k), repairs and renewals costs (£9k), externally provided digital marketing costs (£6k) and various other cost lines (£6k).

Bank and cash balances increased to £942k from £672k in the previous year. The outstanding balance on the mortgage loan reduced by £66k to £334k.

The Charity offers a government pension scheme administered by Nest pensions; the Charity has no control over the assets of the scheme or how it is administered. The Charity does not hold any investments.

4

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report

Reserves policy

The reserves policy takes into account the need to:

The trustees have considered the outcome of a review of the level of free reserves, taking account of the charity’s major risks to its financial position, and assessed that a target range for free reserves of between £210k and £260k is appropriate for these purposes. The reserves policy and target level are reviewed by the trustees on an annual basis, together with any steps necessary to align the actual level with the target over time.

As of 31 August 2025, total reserves stood at £1,747k, of which £6.1k were restricted. Of the total unrestricted reserves, £518k was designated by the trustees for a Building Development fund for future major repairs expenditure with £193k being transferred to this fund during the year. Of the remainder, £973k is taken up by fixed assets, leaving £250k as free reserves. The trustees have considered medium term forecasts and assessed that free reserves will fall within the target range within this timeframe.

Going concern

The trustees believe that there are no material uncertainties that call into doubt the charity's ability to continue its activities. The accounts have therefore been prepared on the basis that the charity is a going concern.

Principal risks and uncertainties

The risk register is kept under review, and any changes considered at Trustee Board meetings. In 2024-25 the critical risks were largely unchanged. For 2025-26, the cost of living crisis continues to impact student retention, although recruitment was good. Key risk areas continue to be:

Risk mitigation principally lies with:

Plans for the future

The new curriculum has been validated and accredited and is now in its second year of implementation: the impact of these changes are being monitored.

5

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report Structure, governance and management

The Charity is also a company limited by guarantee, which gives certain advantages and protection to the Board.

According to the Memorandum & Articles of Association, the LSO Charity has a Board of between 2 and 15 Trustees. A Chair is nominated by the Board. At each AGM, 1/3” of the Board stands down in rotation, but may be re-appointed. (See the M&A document for more detail).

The Trustee Board has the responsibility for determining strategy and policy, and then monitoring the delivery and results of the Strategic Plan so created. Occasional meetings may be called to consider the setting of such policy and the Board has the ability to create working groups or subcommittees as required.

The Board usually meets once per quarter on-site at the Grange or by Zoom. At every meeting, the Finance Manager presents the management accounts (the income and expenditure for the last period & year to date). The autumn meeting agrees the budget for the year; the winter meeting usually considers the audited accounts. The spring meeting coincides with the AGM. Other items on the standing agenda are monitoring the Strategic Plan and the Risk Register, and a report from the Principal.

New trustees are provided with an induction pack, which includes information from the Charity Commission. This includes the legal and societal expectations of charities and their Boards in detail, but in a very accessible format.

New trustees are selected according to the skill set needed by the Board, and if they have shown a particular interest in osteopathy. There is a mix of lay and professional members. The LSO Charity is primarily visible through the osteopathy courses and clinic. The school has a Senior Management Team (SMT) who operationalise the vision of the Board, and manage the day to day affairs. The Principal is de facto the Chief Executive Officer.

Constitution of SMT 2024-25

Position Name
Principal Ms Fiona Hamilton
Finance Manager and Company Secretary Mr Nigel Martin
Quality Assurance & Student Experience Dr Maria Fitzgerald (PhD)
Manager
Clinic Manager Julia Empey
Operations Manager Marlene Davis
ProgrammeManager TrevorEngland

6

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report

Academic standards are monitored by the validating University, and the External Examining system. A full quinquennial Institutional Review was successfully completed in May 2024.

Academic and professional standards are monitored by the General Osteopathic Council with support from Mott MacDonald. A full RQ renewal visit was successfully undertaken in October 2024. The LSO operates a continuous cycle of quality maintenance and enhancement, utilising feedback from a range of sources and stakeholders.

The detailed course aims and learning outcomes are specified in the Course Specification Forms, which are lodged with the University. They were devised to enable students to meet the requirements set out in the Benchmark Statement (QAA 2024), Osteopathic Practice Standards (GOsC 2019), Graduate Outcomes for Osteopathic Pre-Registration Education & Standards for Education and Training (GOsC 2022) and the Quality Code (QAA). Each module is mapped to the course learning outcomes, ensuring that the curriculum matches the course aims. The learning outcomes and content of each module are enshrined in the Module Definition Forms (housed electronically within the University), and are communicated to students annually via more detailed Module Guides.

Remuneration policy for key management personnel

Procedure:

Statement of responsibilities of the trustees

The trustees (who are also directors of a charitable company for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

eSelect suitable accounting policies and then apply them consistently

e Observe the methods and principles in the Charities SORP

7

London School of Osteopathy For the year ended 31 August 2025 Trustees’ report

eMake judgements and estimates that are reasonable and prudent

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 August 2025 was 7.

The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Statement as to disclosure to our auditors

In so far as the trustees are aware:

Auditors

Goldwins Limited were re-appointed as the auditors of the charitable company during the year and have expressed their willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 10.02.26 and signed on their behalf by;

brie vV/\ Andrew Duguid, Chair Trustees

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LONDON SCHOOL OF OSTEOPATHY

Opinion

We have audited the financial statements of The London School Of Osteopathy (the “Charity’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. 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).

Opinion on financial statements

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent ofthe Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation ofthe 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 charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections ofthis[report.]

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon, In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

9

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LONDON SCHOOL OF OSTEOPATHY

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course ofthe audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

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

Responsibilities of the trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes ofcompany law) are responsible for the preparation of[the][financial][statements][and][for][ being][satisfied][that][they][ give][a][true][ and][fair][ view][ and][for][ such][internal] control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 are set out below.

10

17/02/2026

London School Of Osteopathy

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 August 2025

2025 2024
Unrestricted Restricted
Fund Fund Total Fund Total Fund
Note £ £ £ £
Income from:
Donations and legacies 3 86 = 86 22,913
Charitable activities 4
Education, training and professional development 1,370,715 5,000 1,375,715 1,280,941
Investments 5 23,372 ~ 23,372 24,807
Other - - - -
Total income 1,394,173 5,000 1,399,173 1,328,661
Expenditure on:
Charitable activities 6
Education, training and professional development 1,186,675 - 1,186,675 1,112,781
Other - - - -
Total expenditure 1,186,675 - 1,186,675 1,112,781
Net income / (expenditure) for the year 7 207,498 5,000 212,498 215,880
Transfers between funds i = = _
Net income / (expenditure) before other
recognised gains and losses 207,498 5,000 212,498 215,880
Net movement in funds 207,498 5,000 212,498 215,880
Reconciliation offunds:
Total funds brought forward 1,533,227 1,110 1,534,337 1,318,457
Totalfundscarriedforward 1,740,725 6,110 1,746,835 1,534,337

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19 to the financial statements.

12

London School Of Osteopathy Balance sheet

Company no. 04037209

As at 31 August 2025

2025 2024
Note £ £ £ £
Fixed assets:
Tangible assets 12 1,262,688 1,270,769
1,262,688 1,270,769
Current assets:
Debtors 13 40,805 87,265
Cash at bank and in hand 942,044 671,691
982,849 758,956
Liabilities:
Creditors: amounts falling due within one year 14 277,137 198,396
Net current assets/ (liabilities) 705,712 560,560
Total assets less current liabilities 1,968,400 1,831,329
Creditors: amounts falling due after one year 16 (221,565) (296,992)
Total net assets / (liabilities) 1,746,835 1,534,337
The funds of the charity: 19
Restricted income funds 6,110 1,110
Unrestricted income funds:
Fixed assets fund 972,942 916,786
Building development fund 517,783 325,000
General funds 250,000 291,441
Total unrestricted funds 1,740,725 1,533,227
Totalcharityfunds 1,746,835 1,534,337

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

Approved by the trustees ns)on behaeh10 /2fob: Ls and signed on their behalf by

Andrew Duguid Chair

13

London School Of Osteopathy Statement of cash flows

For the year ended 31 August 2025

Note 2025 2024
£ £ £ £
Cash flows from operating activities 20
Net cash provided by / (used in) operating activities 357,385 105,248
Cash flows from investing activities:
Purchase of fixed assets (12,501) (12,061)
Net cash provided by / (used in) investing activities (12,501) (12,061)
Cash flows from financing activities:
Repayments of borrowing (74,531) (71,830)
Cash inflows from new borrowing - -
Net cash providedby / (used in) financing activities (74,531) (71,830)
Change in cash and cash equivalents in the year 270,353 21,357
Cash and cash equivalents at the beginning of the
year 671,691 650,334
Cashandcashequivalentsattheendoftheyear 21 942,044 671,691

14

London School Of Osteopathy

Notes to the financial statements

For the year ended 31 August 2025

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note,

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

15

London School Of Osteopathy

Notes to the financial statements

For the year ended 31 August 2025

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

g) Expenditure and irrecoverable VAT

h) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Freehold building 100 years (freehold land not depreciated) Leasehold costs over the terms of the lease Medical equipment 10 years Office equipment 5-10 years

k) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

16

London School Of Osteopathy

Notes to the financial statements

For the year ended 31 August 2025

1 Accounting policies (continued)

m) Creditors and provisions

0) Pensions The charity operates a stakeholder pension scheme.

2 Detailed comparatives for the statement of financial activities

2024
Unrestricted Restricted Total
£ £ £
Income from:
Donations and legacies 22,913 eS 22,913
Charitable activities
-Education, training and professional development 1,279,691 1,250 1,280,941
Investments 24,807 = 24,807
Other = = Ss
Total Income 1,327,411 1,250 1,328,661
Expenditure on:
Charitable activities
-Education, training and professional development 1,111,463 1,318 1,112,781
Total expenditure 1,111,463 1,318 1,112,781
Net income / expenditure before gains / (losses) on investments 215,948 (68) 215,880
Net gains / (losses) on investments = = -
Net Income / expenditure 215,948 (68) 215,880
Transfers between funds = - -
Net movement In funds 215,948 (68) 215,880
Total funds brought forward 1,317,279 1,178 1,318,457
Totalfundscarriedforward 1,533,227 1,110 1,534,337

17

London School Of Osteopathy

Notes to the financial statements

For the year ended 31 August 2025

3 Income from donations and legacies

Income from donations and legacies
2025 2024
Unrestricted Restricted Total Total
£ £ £ £
Legacies 86 - 86 22,913
86 = 86 22,913
Income from charitable activities
2025 2024
Unrestricted Restricted Total Total
£ £ £ £
Education, training and professional development
Funding from Office for Students 182,243 a 182,243 172,805
Student fees 1,010,277 - 1,010,277 950,435
Other income 1,108 5,000 6,108 1,858
Room hire 21,848 - 21,848 8,828
Outpatients clinic Income 155,239 - 155,239 147,015
Total income from charitable activities 1,370,715 5,000 1,375,715 1,280,941
Income from Investments
2025 2024
Unrestricted Restricted Total Total
£ 3 £ £
Investment income 23,372 - 23,372 24,807
23,372 - 23,372 24,807

18

London School Of Osteopathy Notes to the financial statements For the year ended 31 August 2025 6 Analysis of expenditure

Analysis of expenditureexpenditure
Charitable activities
Education, training
and professional
development Support costs 2025 Total 2024 ‘Total
£ £ £ £
Staffcosts (Note 8) 424,116 288,912 713,028 661,458
Direct cost
Anglia Ruskin University - student fees 177,013 - 177,013 184,443
Student bursaries 41,684 = 41,684 38,779
Teaching aids, slides and books 5,103 - 5,103 7,174
Clinic expenses 3,589 - 3,589 3,956
Support costs
Rent and service charges 36,500 - 36,500 36,450
Rates 11,214 - 11,214 (30,212)
Light and heat 26,123 - 26,123 19,603
Insurance 31,032 - 31,032 29,166
Repairs and renewals including IT costs 31,521 - 31,521 40,953
Cleaning 7,915 - 7,915 6,216
Telephone and internet 8,309 - 8,309 8,223
Advertising and marketing 24,363 = 24,363 29,991
Depreciation - freehold property 15,875 - 15,875 15,875
Depreciation - Leasehold improvement Mayfield 170 - 170 =
Depreciation - leasehold costs and equipment 4,537 = 4,537 3,700
Travel expenses - 309 309 1,247
Printing, postage and stationery 1,741 - 1,741 2,590
Mortgage interest and other charges 15,103 - 15,103 17,553
Bank charges and interest 1,904 433 2,337 2,380
Loan interest and other finance charges 354 - 354 605
General expenses - 2,166 2,166 1,604
Audit fees - 5,280 5,280 5,280
Membership & subscription 5,636 a 5,636 6,579
Legal and professional fees 5,640 9,040 14,680 16,218
Bad debt provision 1,093 - 1,093 2,950
880,535 306,140 1,186,675 1,112,781
Support costs 306,140 (306,140) -
Total expenditure 2025 1,186,675 7 1,186,675
Totalexpenditure2024 1,112,781 - 1,112,781

The total expenditure £1,186,675 was unrestricted (2024: £1,111,463) and ENil (2024: £1,318) was restricted. Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Charitable activities
Education, training
and professional
development Support costs 2024 ~~ ‘Total
£ £ £
Staff costs (Note 8) 388,979 272,479 661,458
Direct cost
Anglia Ruskin University - student fees 184,443 - 184,443
Student bursaries 38,779 = 38,779
Teaching aids, slides and books 7,174 - 7,174
Clinic expenses 3,956 ~ 3,956
Support costs
Rent and service charges 36,450 - 36,450
Rates (30,212) = -30,212
Light and heat 19,603 - 19,603
Insurance 29,166 - 29,166
Repairs and renewals including IT costs 40,953 - 40,953
Cleaning 6,216 - 6,216
Telephone and internet 8,223 - 8,223
Advertising and marketing 29,991 ~ 29,991
Depreciation - freehold property 15,875 = 15,875
Depreciation - leasehold costs and equipment 3,700 - 3,700
Travel expenses - 1,247 1,247
Printing, postage and stationery 2,590 - 2,590
Mortgage interest and other charges 17,553 - 17,553
Bank charges and interest 1,765 615 2,380
Loan interest and other finance charges 605 - 605
General expenses ” 1,604 1,604
Audit fees ~ 5,280 5,280
Membership & subscription 6,579 ~ 6,579
Legal and professional fees 6,487 9,731 16,218
Bad debt provision 2,950 ~ 2,950
821,825 290,956 1,112,781
Support costs 290,956 (290,956) =
Totalexpenditure2024 1,112,781 - 1,112,781

19

London School Of Osteopathy Notes to the financial statements

For the year ended 31 August 2025

7 Net incoming resources for the year

This is stated after charging / crediting:

This is stated after charging / crediting:
2025 2024
£ £
Depreciation 20,582 19,575
Operating lease rentals:
Property 36,500 36,450
Auditors’ remuneration (excluding VAT):
Audit 4,400 4,400

8

Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
2025 2024
£ £
Salaries and wages 626,555 572,668
Social security costs 40,114 31,906
Employer's contribution to defined pension schemes 13,506 13,750
Freelance staff costs 31,839 41,614
Staff training and recruitment 1,014 1,520
713,028 661,458

No employee earned more than £60,000 during the year (2024: nil).

The total employee benefits including pension and national insurance contributions of the key management personnel were £82,873 (2024: £85,191).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2024: £nil). One charity trustee received the amount of £637 for professional service (2024: £563).

Trustees’ reimbursement of travel and subsistence costs is £Nil.

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

follows:
2025 2024
No. No.
Education, training and professional 19.9 19.2
Outpatients clinic 4.8 4.9
Support 15.6 14.2
40.3 38.3

10. Related party transactions

One trustee was paid £637 in the year for the guest lectures.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

20

London School Of Osteopathy Notes to the financial statements

For the year ended 31 August 2025

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12. Tangible fixed assets

Freehold Leasehold Medical Office
Property Costs Equipment Equipment Total
£ £ £ £ £
Cost
At the start of the year 1,455,182 151,526 34,546 155,804 1,797,058
Additions in year - 1,388 - 11,113 12,501
Disposals in year - - - - -
At the end of the year 1,455,182 152,914 34,546 166,917 1,809,559
Depreciation
At the start of the year 196,909 151,526 24,155 153,699 526,289
Charge for the year 15,875 170 1,155 3,382 20,582
Eliminated on disposal - ot = = me
At the end of the year 212,784 151,696 25,310 157,081 546,871
Net bookvalue
At the end ofthe year 1,242,398 1,218 9,236 9,836 1,262,688
Atthestartoftheyear 1,258,273 - 10,391 2,105 1,270,769

The freehold property at 12 Grange Road, London, SE1 3BE (where the School is run), is part funded by a mortgage (see Note 16). The cost above includes the estimated cost of freehold land of £327,000 that is not depreciated.

Leasehold costs relate to the Charity's 10 year lease of Mayfield House, 202b Cambridge Heath Road, London E2 9LJ where its clinic is based. The original lease had ended on 16th April 2023. The new lease has been renewed from 17 April 2023.

All of the above assets are used for charitable purposes.

13 Debtors

Debtors
2025 2024
£ £
Other debtors 9,298 60,392
Prepayments 25,957 20,318
Accrued income 5,550 6,555
40,805 87,265

21

London School Of Osteopathy Notes to the financial statements

For the year ended 31 August 2025

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2025 2024
£ £
Mortgage repayable in one year (see Note 16) 68,181 65,726
Bank loans 8,735 10,294
Trade creditors 18,476 22,615
Overpaid by Anglia Ruskin University 193,311 114,601
Student fees due by Anglia Ruskin University (157,737) (117,162)
Other creditors 571 3,600
Accruals 33,438 39,289
Deferred income 112,162 59,433
277,137 198,396

15. Deferred income

Deferred income comprises student fees received in advance of £111,612 (2024: £58,363) and letting income in advance £550 (2024: £1,070).

2025 2024
£ £
Balance at the beginning of the year 59,433 83,091
Amount released to income in the year (59,433) (83,091)
Amount deferred in the year 112,162 59,433
Balance attheendoftheyear 112,162 59,433

16 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
2025 2024
£ f£
Mortgage (see below) 265,892 334,073
Mortgage related costs (44,327) (45,816)
Bank loans “ 8,735
221,565 296,992

The freehold property was part financed by a mortgage repayable over 15 years. The fixed mortgage (with balance outstanding at the year end of £334,073) has interest charged at 3.69% p.a. which is subject to renegotiation in the future.

2025 2024
£ £
The outstanding balance at the year end was repayable as follows:
In more than five years - 45,748
Between two and five years 265,892 288,325
Total due after one year 265,892 334,073
Less than one year 68,181 65,726
Total 334,073 399,799

The outstanding mortgage represents 24% of the cost of the property at the year end.

22

London School Of Osteopathy Notes to the financial statements

For the year ended 31 August 2025

17 Pension scheme

The charity operates a stakeholder pension scheme and has £Nil pension liability as at the year end.

18 Analysis of net assets between funds

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |General| |unrestricted|Designated|Restricted|Total|funds| |£|£|£|£| |Tangible|fixed|assets|289,746|972,942|-|1,262,688| |Net|current|assets|181,819|517,783|6,110|705,712| |Long|term|liabilities|(221,565)|-|-|(221,565)| |Net|assets|at|the|end|of the|year|250,000|1,490,725|6,110|1,746,835|

----- End of picture text -----

19 Movements in funds

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Incoming|Outgoing| |At|the|start|resources|&|resources|&|At|the|end| |of|the|year|gains|losses|Transfers|of the|year| |£|£|£|£|£| |Restricted|funds:| |Robin|Kirk|Legacy|Fund|870|-|-|-|870| |Hospital|Saturday|Fund|240|=|=|-|240| |Southwark|Community|Energy|Fund|=|5,000|=|=|5,000| |Total|restricted|funds|1,110|5,000|-|-|6,110| |Unrestricted|funds:| |Designated|funds:| |Fixed|assets|fund|916,786|-|(20,582)|76,738|972,942| |Building|development|fund|325,000|-|-|192,783|517,783| |Total|designated|funds|1,241,786|-|(20,582)|269,521|1,490,725| |General|funds|291,441|1,394,173|(1,166,093)|(269,521)|250,000| |Total|unrestricted|funds|1,533,227|1,394,173|(1,186,675)|-|1,740,725| |Total|funds|1,534,337|1,399,173|(1,186,675)|-|1,746,835|

----- End of picture text -----

Purposes of designated funds

The Fixed assets fund reflects the resources tied up in fixed assets, less outstanding amounts on loans to finance them (the mortgage in Note 16).

The Building development fund has been established to pay for major repairs at 12 Grange Road.

Purposes of restricted funds

Income, which is received for specific projects, as - for example - grants, donations and earned income - is accounted for as restricted funds, with expenditure usually attributed over a specific period of time. We manage restricted funds carefully, keep expenditure under regular review, and aim to keep to the specified budget.

23

London School Of Osteopathy

Notes to the financial statements

For the year ended 31 August 2025

20 Reconciliation of net income / (expenditure) to net cash flow from operating activities

2025 2024
£ £
Net income / (expenditure) for the reporting period 212,498 215,880
(as per the statement of financial activities)
Depreciation charges 20,582 19,575
(Increase)/decrease in debtors 46,460 (57,522)
Increase/ (decrease)
in creditors		 77,845 (72,685)
Net cash provided by / (used in) operating activities 357,385 105,248
Analysis of cash and cash equivalents
Atl At 31
September Other August
2024 Cash flows changes 2025
£ £ £ £
Cash in hand 671,691 270,353 - 942,044
Totalcashandcashequivalents 671,691 270,353 - 942,044

21 Analysis of cash and cash equivalents

22 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases on the leasehold property are as follows:

Restated
Leasehold Property
2025 2024
£ £
Less than one year 22,800 36,500
One to five years - 22,800
22,800 59,300

The 10-year lease has been started from 17 April 2023 with an open market rent review which is due in year 5 and with the mutual break clauses at the end of years 3 and 5. The rent has been agreed at £36,500 per annum.

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

24

London School Of Osteopathy Notes to the financial statements

For the year ended 31 August 2025

Summary analysis of previous reporting period

24 (a) Analysis of net assets between funds (2024)

General
unrestricted Designated Restricted Total funds
£ £ £ £
Tangible fixed assets 353,983 916,786 - 1,270,769
Net current assets 234,450 325,000 1,110 560,560
Long term liabilities (296,992) - ~ (296,992)
Netassetsattheendoftheyear 291,441 1,241,786 1,110 1,534,337

(b) Movements in funds (2024)

Incoming Outgoing
At the start resources & resources & At the end
ofthe year gains losses Transfers ofthe year
£ £ £ £ £
Unrestricted funds:
Designated funds:
Robin Kirk Legacy Fund 870 - - - 870
Hospital Saturday Fund 308 - (68) a 240
Mission Practice - 1,250 (1,250) - “
Total restricted funds - 1,250 (1,318) - 1,110
Total designated funds
Fixed assets fund 862,513 - (19,575) 73,848 916,786
Building development fund 235,000 = - 90,000 325,000
Total designated funds 1,097,513 ~ (19,575) 163,848 1,241,786
General funds 219,766 ~=1,327,411 (1,091,888) (163,848) 291,441
Total unrestricted funds 1,317,279 1,327,411 (1,111,463) = 1,533,227
Totalfunds 1,317,279 1,328,661 (1,112,781) = 1,534,337

25