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← London College Of Business Studies

2025-07-31-accounts

Annual

Report and Financial

Statements

For the Year Ended 31 July 2025

Company Limited by Guarantee

Company Registration Number 05889034 (England and Wales) Charity Registration Number 1117883

LONDON COLLEGE OF BUSINESS STUDIES

ANNUAL REPORT AND FINANCIAL STATEMENT CONTENTS

Description Page
Company information 3
Financial Year 2024-25: At a glance 4
Trustees’ Report 6
Management and Governance Arrangements 13
External Auditor’s Report 23
Statement of Financial Activities 26
Cash Flow Statement 27
Statement of Financial Position 28
Statement of Changes in Equity 29
Notes to the Accounts 32
Detailed Statement of Financial Activities 34
Disclosure About Staff Pay 35

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LONDON COLLEGE OF BUSINESS STUDIES COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2025

Trustees Mr Mansoor Ahmad Saad Dr Ghania Waseem Mr Ahmad Sarfaraz Yasir Company Number 05889034 (England and Wales) Registered Charity Number 1117883 Registered Office 277 Cranbrook Road Ilford IG1 4TG United Kingdom Solicitors Stone King Solicitors 16 St John’s Lane London EC1M 4BS

Accreditations/Partners

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FINANCIAL YEAR 2024-25: AT A GLANCE

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----- Start of picture text -----
Financial Activities 2025
£1,698,346
__-% £228,397
£228,397
£1,926,743
7
Incoming Resources Outgoing Resources Net Income
FINANCIAL POSITION 2025
Non-Current Liabilities,
Curent Liabilities,
£260,000.00
£230,436.00
Non-Current
Assets,
£944,476.00
Retained Earnings,
£1,287,148.00
Current Assets,
£833,108.00
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COMPARATIVE DATA: 2024 AND 2025

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----- Start of picture text -----
£2,000,000
£1,800,000
£1,600,000
£1,400,000
£1,200,000
£1,000,000
£800,000
£600,000
£400,000
£200,000
£0
Incoming Resources Outgoing Resources Net Income
2025 2024
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----- Start of picture text -----
£900,000
£800,000
£700,000
£600,000
£500,000
£400,000
£300,000
£200,000
£100,000
£0
Staff Costs Other Operating Interest and Depreciation Maintenance
Costs Finance Costs Costs
2025 2024
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LONDON COLLEGE OF BUSINESS STUDIES TRUSTEES’ REPORT

The Trustees present their report together with the financial statements of the charity for the period ended 31 July 2025.

The Board of Trustees considers the charity in a reasonable position to continue its activities during the coming year and that the charity assets are adequate to fulfil its obligations.

Trustees

The following Trustees held office during the whole of the period:

  1. Mr Mansoor Ahmad Saad

  2. Dr Ghania Waseem

  3. Mr Ahmad Sarfaraz Yasir

Nature of governing document and constitution of the charity

Memorandum and Articles of Association Incorporated on 27 July 2006 as amended by special resolution dated September 2006 and January 2007 and then later updated in September 2025.

Objectives and Activities of the Charity

Objects of the charity as set out in its governing document:

The Objects of the Charity are to advance education by provision of courses to home and international students.

The charity’s main objectives for the year;

Review of charitable activities 2024-25

The London College of Business Studies demonstrated great progress with respect to the courses and academic profile for the period above. After securing a partnership with the Kingston University, for the very first time, it taught a full year of a degree programme, something that it had long desired and strived to obtain. Not only that, it also managed to deliver and successfully support learners in achieving qualifications in Networking, Leadership and Management, and Construction for the first time. This was truly the first year for the College in which it was able to deliver and successfully support a variety of courses, showcasing a multi-disciplinary command over academic provision. The successful outcomes and positive learner experiences from these courses were the true accolades earned by the College in recognition of its ambition of achieving academic excellence. The College was able to successfully demonstrate its capabilities to deliver multi-disciplinary courses and that having a diverse academic portfolio was imperative to its goal

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of a sustainable organization. The positive achievement on these courses along with other courses, such as the Diploma in Education and Training and Business, concluded a successful Academic year for the College.

The year encompassed a full learner recruitment cycle, resulting into a financial picture that the College expects for a full financial year in line with its forecast targets. The student numbers and financial results were as expected and in line with the financial forecasts. The College was able to focus on operating as per its development and growth objectives as stipulated in the Strategic Plan, particularly, focusing on academic diversification and partnerships with universities to not only strengthen the academic profile but also to provide systematic progression routes to our learners. Importantly, the operational achievements mattered significantly the College was met with favourable circumstances after the alleviation of external challenges, particularly those that were completely unfair, such as the investigation by NATIS. The investigation was concluded with no wrong doing on the College’s par and the awarding of costs in recognition of damages.

The College continued with its drive to acquire partnerships with universities, especially in the form of a franchise, and this paid dividends with a new partnership secured with the University of Wolverhampton. The partnership is for the following courses:

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The inclusion of the above indicate the significant progress that the College has made during this Financial Year. The College had continued to make efficient and effective use of the capital and revenue grants secured from the Department for Education related to the delivery of the Higher Technical Qualifications. The funds were spent following careful consideration of costs elements and on the apposite functions that would contribute the greatest to the overall educational enhancement and improved student experience. Great amount of strategic deliberation and planning preceded any expenditure decisions.

Whilst the College continued with its development through acquisition of additional courses, it maintained its responsibilities towards any existing accreditations and partnerships, and most importantly, the existing learners. This meant that the College was able to demonstrate high level of quality of teaching and learning to support learners in achieving the qualifications enrolled on. Most learners who remained on the current programmes were able to pass and obtain the qualifications and the relevant awarding organisations, such as Pearson, NCFE and OTHM were happy with the delivery of the relevant programmes, certificating relevant learners as a result. We were aware of the challenges that many similar providers faced related to the Diploma in Education and Training Qualifications, however, we did not face any such issues as the provision was managed proficiently. The College had successful external inspections such as Academic Management Review, Systems Confirmation Visit and External Verification reviews by Pearson and External Quality Assurance Review by OTHM and NCFE. Once again, a number of good practices were highlighted and the College’s performance was commended to the extent that Pearson’s Academic Management Review did not even result in a single recommendation, let alone any actions. This, once again, reflects the value for money that the College is creating for its learners. As a part of its quality assurance mechanisms, the College reviewed all its policies, Committee Structure and its functions to ensure a fit for purpose and value adding mechanism was in place to deliver desired objects. Improvement and quality assurance are at the core of College’s objectives and it is committed to its goal of continuous improvement, for which it had been actively deliberating a number of steps. These include revision of the Articles of Association to refocus the purposes of the college, clarify the responsibilities of the trustees and to introduce

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a Governing Body, superseding the Board of Trustees, and to include a Student Governor, Staff Governors and Ex-officio Governors from the local community. This will ensure consistency in the way the College’s governing body operates in accordance with its articles. The development of a revised Quality Assurance Policy was agreed, with key developments including the introduction of an Academic Board to supersede the Quality Assurance Committee, with student and staff representation. Additionally it has been agreed that revision of the Annual Course and College Review process, with the development of module reports that feed in to individual course reports and a separate annual college report to the Governing Body would help with the necessary scrutiny and oversight of all areas of the college’s work. The approach is not only to bring consistency but to also make the governance structure more robust and effective.

The College has continued to develop its support functions and the continued accreditation with Matrix is evidence for its credible Information, Advice and Guidance functions. The new Principal, Mr Ian Harris, has extensive experience in the Higher Education sector and is also immensely contributing positively towards the development of the College. The College also continued to effectively implement its responsibilities related to the Prevent Duty, ensuring a continuous test of systems in place and constant monitoring and evaluation. Being a small provider and running a limited portfolio of programmes, especially, during the period in question, the risks related to prevent were identified as low. The College has always prioritised the welfare of it learners, their progress and achievement are of upmost importance to the College. As the College now continues to deliver the Higher Education programmes, it will continue to ensure that it follow all of its proven policies and procedures and continue to work towards the improvement of its facilities to enhance the student experience and learning. The College continued to give importance to the adherence of regulatory requirements set by the statutory stakeholders, while improvising on implementing improved and learner friendly ways of enhancing overall learner experience. Same principles and adherence to the requirements is given to the other regulatory and awarding organisations. Importantly, understanding the challenges faced by learners and its academic and admin staff, it will continue to evaluate, review and improve the overall experience to minimise these challenges and make working smarter and effective. If this means taking additional steps to support the staff, learners and the entire academic team, then so be it with progress and success in mind. The College is committed to the Continuous Professional Development of its staff and is currently supporting some of the lecturers in obtaining the FHEA membership. It must be ensured that the classes are delivered without compromise to any quality and standards fundamentals, enabling the College to uphold quality assurance in its programmes. The College has continued to invest in improved technology in the classroom with smart screens for lecturers in order to facilitate a superior learning environment. The College has also continued to provide a number of online resources for its learners to assist in wider online research at no cost to the learners. As a part of its quality assurance mechanisms, the College reviewed all its policies to ensure a fit for purpose and value adding mechanism was in place to deliver desired objects. The College understands that it would mean training, development and supporting of new staff members who join it operations for them to be able to not only understand but fully comply with these systems in order to achieve goal congruence.

Public Benefit

The Trustees have considered the Charity Commission’s guidance on public benefit when reviewing the aim and objectives and in planning future activities. The Trustees are mindful that they need to consider and explain how the charity fulfils its charitable object and confers

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appreciable public benefit. They consider that effectively all the operations of the charity tend towards that end, for example;

Revenue Generation

The charity has received all the income as fee from education and training provided.

Decision Making

Decisions and strategic direction are formulated by the Trustees together with the Senior Management Team.

Risk

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks. A Risk Profiling Document is maintained in order to determine, evaluate and manage all risks associated to the organisation. An investigation by NATIS commenced in October 2023 related to one of the bank accounts held by the College. This investigation ended with a conclusion of no wrong doing by the College. This was in line with the risk assessment and probability assessment that the College had formed related to the materiality of this risk. Importantly, the court agreed to award costs to the College in recognition of damages, indicating that the College was in the right. No current litigations are ongoing and the College does not currently face any serious risks.

To mitigate against any financial misappropriation, Trustees and accounting staff regularly monitor and supervise the financial affairs of the charity. See Management and Governance section for further details.

Financial Review

The college has produced 12 months’ accounts. The income attributable for the period ended 31st July 2025 is £1,926,743 which is lower than the preceding year due to the figure including a much lower amount of grant received as compared to in the preceding year. However, this figure represents a much higher amount of income generated from operating activities alone. A total surplus of £228,397 has been recognised. In addition to the income from the HE learners on the programme, the College also generated additional income through its short training and non-HE courses.

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Reserve Policy

The Trustees consider holding reserves amounting to approximately at least three months’ average expenditure. The free reserve ensures the charity does not need to obtain overdraft facilities during the year. Additionally, in line with its plans for growth, development and enhancement of learning, the College may also plan systematic holding of additional reserves in order reinvest these for the said objectives.

Transactions and Financial Position

The financial statements along with any notes are set out on pages 25 to 35. The financial statements have been prepared implementing the 2014 Revision of the Statements of Recommended Practice (SORP) for Accounting and Reporting by charities issued by the Charity Commission for England and Wales (effective January 2015) and in accordance with the Financial Reporting Standard for the Smaller Entities (effective April 2008). As stated in the introduction of this report, the Trustees consider the financial performance by the Charity during the year to have been satisfactory.

Specific changes in Fixed Assets

Changes in fixed assets are shown in detail in the notes to the accounts.

Share Capital

The company is limited by guarantee and therefore has no share capital.

Recruitment of Trustees

London College of Business Studies adheres to maintain a good strategy to recruit its trustees. Trustees have the responsibilities to seek and induct the applicants in order to find the best and suitable candidate who will be an asset to the charity in its establishment and growth.

Accounting Policies

The accounting policies adopted by the charity are detailed in this document under the Statement of Principal Accounting Policies to the financial statements. There have been no changes to the accounting policies during the period.

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations.

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Company law requires the Trustees to prepare accounts for each financial year. Under that law, the Trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the Board of Trustees

............................................................................

Mr Mansoor Ahmad Saad

Trustee

Approved by the board on: 20 October 2025

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LONDON COLLEGE OF BUSINESS STUDIES

MANAGEMENT AND GOVERNANCE ARRANGEMENTS

Introduction

London College of Business Studies is company limited by guarantee registered in England and Wales and a registered charity with Charities Commission for England and Wales. The College is a small sized provider with courses accredited through a number of approved awarding bodies as it does not have degree awarding powers.

The College is not part of a group and does not have any other related organisations. In line with its limited structure, the College has 3 trustees that oversee the overall direction and strategic planning. Day to day operations are managed by the senior management team, consisting of the Principal, Head of Academics, Head of Administration and the Director of Standards and Enhancement. The Trustees meet with the Senior Management Team termly as a Board of trustees committee, and have specific responsibility for the overall strategic planning and strategic direction and risk management is conducted in this committee including the evaluation of any financial, operational and strategic risks as well as a thorough financial review of any operational activity. This committee is currently responsible for the governance of the College.

The functions are further supported by a committee structure which is common in higher education institutions. The committee arrangements match the size and aspirations of the College. The senior committee is the Quality and Standards Committee, which has an internal audit based function. The Quality and Standards Committee comprises of the Senior Management Team and student representatives and the purpose of this committee is to ensure that a collective approach is adopted in reviewing the systems in place and key performance indicators at the College along with monitoring the implementation of processes as per the College’s policies, as well as the requirement of the regulatory bodies. It provides an effective quality assurance and monitoring function at the College.

Additionally there are Administrative and Academic Committees which meet regularly to monitor the relevant functions at the College. The committee structure is appropriate for the size of the organisation and is able to cover all functions. The overall committee structure comprises of the following;

The operation arrangements and strategies of the College are documented to provide an overview of plans and structures. These can be found in the following documents:

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However, it is important to note that the College is continuing to develop and improve its management and governance arrangements for which a number of actions are currently under deliberation. These include: the revision of the Articles of Association to refocus the purposes of the college, clarify the responsibilities of the trustees and to introduce a Governing Body, superseding the Board of Trustees, and to include a Student Governor, Staff Governors and Ex-officio Governors from the local community. This will consistency in the way the College’s governing body operates in accordance with its articles. The development of a revised Quality Assurance Policy was agreed, with key developments including the introduction of an Academic Board to supersede the Quality Assurance Committee, with student and staff representation. Additionally it has been agreed that revision of the Annual Course and College Review process, with the development of module reports that feed in to individual course reports and a separate annual college report to the Governing Body would help with the necessary scrutiny and oversight of all areas of the college’s work. The appointment of Governors and updates to the Quality Assurance Policy are underway and will be implemented prior to the end of 2025.

Committee Structure

For its size and operational volume, the College has a strong committee structure in place. It is headed by the Board of Trustees Committee (to be restructured and replaced by ‘Governing Body’), which includes the 3 Trustees and the Senior Management Team (Principal, Director of Standards and Enhancement, Head of Academics and the Head of Administration). The overall governance, strategic planning, strategic direction and risk assessment is conducted in this committee. This includes the evaluation of any financial, operational and strategic risks as well as a through financial review of any operational activity. A number of factors that are considered in this include:

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Steps are taken to mitigate these risks. As the College’s only source of income is from the academic delivery of its courses, it is imperative to focus on and strengthen its academic and administrative functions towards continuous delivery of its programmes for consistent flow of incoming resources.

At present, in line with the current management and governance review, the committee is expected to undergo changes such as addition of further external members and learners to strengthen the governance and increase objectivity in the governing body. Further changes currently being reviewed also include a change to the name of the committee to avoid confusion over it being only comprised of the trustee as the decision making members.

In order to implement and adhere to the planning and risk management at the strategic level, the College has a Quality and Standards Committee which is responsible for reviewing the academic and admin functions independently to ensure these are complying with the expectations set by the Board of Trustees committee and resultantly, with the applicable regulatory requirements as a whole.

The committee is chaired by the Director of Standards and Enhancement, who works as an independent director providing external expertise and review of activities. An Annual Course and College Review (ACCR) activity also takes place to form an audit/review function conducted internally. This involves review of management and governance arrangement, academic and admin responsibilities, performance and functions as well as feedback from staff and students. An action plan is formulated and reviewed to address any weaknesses or area of development.

Governance

Good governance is fundamental to the success of the College. Skilled and capable board members will help the College attract resources and put them to best use. The College, a registered charity, follows the Charity Governance Code 2017 in managing the charity and drives its principles of governance through the code. The term governance covers values, objectives, structures and arrangements for the strategic direction of the College.

There are 7 main principles that the College follows to fulfil its governance arrangements and the implementation of these principles fulfils the requirement of the college in meeting its legal and regulatory responsibilities. These principles are:

i. Organisational Purpose

The board is clear about the College’s aims and ensures that these are being delivered effectively and sustainably.

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ii. Leadership

The College is led by an effective board that provides strategic leadership in line with the College’s aims and value. Strong and effective leadership helps the charity adopt an appropriate strategy for effectively delivering its aims. It also sets the tone for the charity, including its vision, values and reputation.

iii. Integrity

The board acts with integrity, adopting values and creating a culture which help achieve the College’s charitable purposes. The board is aware of the importance of the public’s confidence and trust in charities, and trustees undertake their duties accordingly.

iv. Decision Making Risk and Control

The board makes sure that its decision-making processes are informed, rigorous and timely and that effective delegation, control and risk assessment and management systems are set up and monitored.

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v. Board Effectiveness

The board works as an effective team, using the appropriate balance of skills, experience, backgrounds and knowledge to make informed decisions.

vi. Diversity

The board’s approach to diversity supports its effectiveness, leadership and decision-making.

vii. Openness and Accountability

The board leads the College in being transparent and accountable. The College is open in its work, unless there is good reason for it not to be.

Internal Controls and Risk Management

The College implements the internal control functions mainly through its committee structure and governance arrangements. Risk management is carried out at the strategic level and then monitored through the committees. The Quality and Standards Committee plays an important role in the implementation of internal controls as it is headed by an independent/non-executive director to provide external and independent review and opinion on implementation of all operational procedures as well as the strategic objectives. The Quality and Standards Committee is very much similar to an

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audit committee that is usually found at various corporations. Some of the key functions in implementing internal controls of the committee are as follows:

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The identification and management of risk takes place at the very top level by the Board of Trustees committee and being a small organisation, the College works in an integrated manner, allowing all member of the senior management team to be familiar with the risks and the actions taken or planned to minimise those risks. A Risk Profiling and Assessment document is maintained which reviews risks on the basis of the following categories:

Nature of the risks are further identified and the probability of these materializing is determined using a metric of low, medium or high. Actions that the College has taken or plans to take to are recorded and this is then reviewed on a termly basis in the Board of Trustees meetings followed by annual review and assessment of the probability of materializing. The same document along with reports from the Quality and standards committee form the basis of internal controls and risk review during the termly Board of Trustees meetings. The College does not accept any payments in cash and does not handle cash at the premises, therefore, minimising related to the handling, security and allocation of cash payments. All income is received through BACS by the Student Loans Company or other relevant bodies for short courses. Access to the bank account is restricted to the Trustee and reports on reconciliation of income and expenses is carried out by the Head of Administration, who is a part of the senior management team (SMT). There are a number of preventive controls in place such as

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restriction of access to key documentation, central documentation system for consistency, more than one staff member responsible for key activities to ensure reduction of errors, proof reading of work and low risk of collusion.

Value for Money

Value for Money (VFM) is the term used to assess whether or not an organisation has obtained the maximum benefits from the goods and services it acquired or provides within the available resources. It also takes into account a mix of quality, cost, resource use, sustainability, fitness for purpose, and convenience to judge if they constitute good value when taken together. For the College, as a not for profit organisation, the principle of Value for money revolves around the concept of 3 E’s: Economy, Efficiency and Effectiveness. The Office for Students Value for Money Strategy 2019-21 states: "Students receive value for money when they experience the full benefits of higher education, both during their studies and afterwards in exchange for the effort, time and money they invest."

The College has a duty of assurance to the taxpayer that the student fees were used effectively and efficiently to provide high-quality teaching and learning, equal opportunities to all students from all backgrounds, which, as a result, delivers positive input to society and the economy.

The College fulfils the responsibilities towards creating value for money by:

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Following recommencement of the HE courses, College’s academic results have been good, however, the College is aware of its ability to produce even better results and is fully committed to improving these for current and future cohorts. These are positive outcomes that ensure that College is creating value by providing successful outcomes for learners to be able to pass their qualifications and be an asset to the community.

100% of the learners remaining on the Business Courses passed their qualification and 84% of the learners remaining on the other courses passed their qualification. Overall 86.4% retention rate by 31/07/2024 on all courses. Feedback collected from learners showed a 4.0 or above out of 5 score for all aspects related to resources, administration and quality of teaching and learning.

A breakdown of the student feedback collected provided as follows:

Teaching Approaches Overall score
out of 5
The tutor had a strong willingness to offer students help and advice. 4.92
The tutor had a strong level of respect and concern shown for students as individuals. 4.91
The tutor is supportive in terms of the development of your skills of analysis and critical thinking. 4.68
The tutor encouraged discussions and responded to questions. 4.94
The tutor used a variety of instructional methods to reach the course objectives (e.g. group
discussions, studentpresentations, etc.).		 4.78
The tutor is organised and prepared for every class. 4.89
The tutor manages classroom time and pace well. 4.86
The tutor provides feedback on your progress and provides tutorial support. 4.89
The tutor is accessible outside of class 4.94
The lectures were clear and easy to understand. 4.71
You clearly understand the objectives of the course. 4.62
Resources
The course was supported by adequate online resources. 4.91
Adequate access to computers provided. 4.11
Adequate references materials provided and suitable examples given. 4.84
Adequate and relevant books available 4.78
Administration
Time table was issued before the commencement of semester. 4.94
Notice boards for the course were useful. 4.04
Administrative staffare helpful. 4.42
Administrative staffare efficient to resolve problems. 4.21
Organised, welcoming and supportive. 4.41
General
Class roomprovided was suitable. 4.87
Health & Safety Issues are managed well 4.79
Academic Standards & Learning Opportunities aregood 4.81
OverallSupport available at the College is good 4.85
College’s website is useful and contains all the relevant information 4.74
College’s E-Learning Student Portal is useful and contains all the necessary and relevant
**information **		 4.85

The College plans to further enhance the value for money aspect by:

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LONDON COLLEGE OF BUSINESS STUDIES

EXTERNAL AUDITOR’S REPORT

To the members of London College of Business Studies

We have audited the accounts of London College of Business Studies for the year ended 31 July 2025 which comprise the Statement of Financial Activities, Statement of Financial Position, the Cash Flow Statement and the Statement of Changes in Equity along with the related notes.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the accounts in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors.

Scope of the audit of the accounts

A description of the scope of an audit of financial statements is provided on the APB's website at www.frc.org.uk/auditscopeukprivate

Opinion on the accounts

In our opinion the accounts:

• give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its net incoming resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

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Opinion on other matters prescribed by the Companies Act 2006

In our opinion the information given in the Trustees’ Report for the financial year for which the accounts are prepared is consistent with the accounts.

Based on our audit activities, we express the following opinions:

• The management and governance arrangements are effective and appropriate for the size of the operations, including the implementation of internal controls.

Opinion on Matters Mandated by the Office for Students ("OfS")

In our judgment, with significant attention to detail:

• Funds administered by the higher education institution for specific purposes, from any source, have been appropriately utilised and managed in accordance with relevant legislation.

There are no notable findings to report in relation to the matters outlined by the OfS, as per their reporting mandate. Specifically:

• The Institute’s grant and fee income, as detailed in the accounts note, has not been significantly misrepresented.

Matters on which we are required to report by exception

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:

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• the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Farhan Khatri FCCA

(Senior Statutory Auditor) For and behalf of

Amstor Accountants Limited

Accountants and Statutory Auditors

28[th] November 2025

15 Leopold Street High gate Birmingham

West Midlands B12 0UP

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LONDON COLLEGE OF BUSINESS STUDIES STATEMENT OF FINANCIAL ACTIVITIES

2025 2024
Income £ £
Unrestricted income 1,815,656 1,417,935
Restricted Income 111,087 541,500
1,926,743 1,959,435
Cost of Generating Income -177,034 -189,491
Gross Income 1,749,709 1,769,944
Resources Expended -1,521,312 -1,115,815
Operating Income 228,397 654,129
Income from ordinary activities before taxation 228,397 654,129
Tax on income from ordinary activities - -
Net incoming resources/ (deficit) 228,397 654,129

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LONDON COLLEGE OF BUSINESS STUDIES

CASH FLOW STATEMENT

2025 2024
£ £
Cash generated from operations
Operating Surplus/ (deficit)		 228,397
654,129
Reconciliation to cash generated from operations:
Depreciation		 101,636 59,553
Amortisation of goodwill - -
(Increase)/decrease in debtors 23,182 103,710
Increase/ (Decrease) in creditors -94,528 255,571
258,687 1,072,963
Cash from other sources
Proceeds from sale of tangible fixed assets - -
Application of cash
Purchase of tangible/ intangible fixed assets -372,466 -373,199
Financing Activities
Proceeds from non-current loan - -
Outflows from financing activities --36,670 -21,111
Net increase / (decrease) in cash -150,449 678,653
Cash at bank and in hand less overdrafts at 01 August 767,399 88,746
Cash at bank and in hand less overdrafts at 31 July 616,950 767,399
Consisting of:
Cash at bank and in hand 616,950 767,399

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LONDON COLLEGE OF BUSINESS STUDIES

STATEMENT OF FINANCIAL POSITION

2025 2024
Notes £ £
Fixed assets
Tangible assets 3 944,476 673,646
Current assets
Debtors 4 216,158 239,340
Cash at bank and in hand 616,950 767,399
833,108 1,006,739
Creditors: amounts falling due within one year 5 -230,436 -324,964
Net current assets 602,672 681,775
Net assets 1,547,148 1,355,421
Long term Liabilities, Capital and reserves
6 260,000 296,670
Long term liabilities
Retained Earnings 1,287,148 1,058,751
Total funds 1,547,148 1,355,421

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LONDON COLLEGE OF BUSINESS STUDIES

STATEMENT OF CHANGES IN EQUITY

Opening Balances 01/08/2024

Description Amount (£)
Unrestricted Net Assets 1,058,751
Restricted Net Assets 0
Total Net Assets at the Beginning 404,622

Changes during the Year

Description Amount (£)
Donations and Contributions 0
Grants 111,087
Programme Service Revenue 0
Investment Income 0
Other Revenues 1,815,656
Total Revenues 1,926,743

Expenses

Description Amount (£)
Programme Expenses 0
Administrative Expenses 1,698,346
Fundraising Expenses 0
Total Expenses 1,698,346

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Net Surplus/ Deficit

Description Amount (£)
Net Surplus/ Deficit for the financial year 2024/25 228,397
Opening Surplus/ Deficit for the year at 01/08/2024 1,058,751
Closing balance at 31/07/2025 1,287,148
Description Amount (£)
Retained Earnings 1,287,148
Total Net Assets at the End 1,287,148

For the year ending 31 July 2025 the company was entitled to exemption from statutory audit under Section 477 of the Companies Act 2006 relating to small companies. Being a limited company by guarantee and a registered charity, the requirements of the Charity Act 2011 apply.

The members have, therefore, required the company to obtain an audit in accordance with the statutory audit requirements under Section 144 of the Charities Act 2011. This also serves the purpose of meeting the College’s obligations to any other external statutory or regulatory bodies, such as the Office for Students.

The directors acknowledge their responsibilities for complying with the requirements of both the Company Act 2006 and Charity Act 2011 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.

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Approved by the Board on 20 October 2025.

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Mr Mansoor Ahmad Saad Director/ Trustee

Accounts Signed by the Accountable Officer

Mr Asad Sarwat Head of Academics 20 October 2025

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LONDON COLLEGE OF BUSINESS STUDIES

NOTES TO THE ACCOUNT

1. Statutory information

London College of Business Studies is a private company, limited by guarantee (registration number 05889034), registered charity (1117883) in England and Wales. The registered office is 277 Cranbrook Road, Ilford, IG1 4TG, United Kingdom.

2. Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

3. Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Presentation currency

The accounts are presented in £ sterling.

Tangible fixed assets and depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Plant & machinery 25%
Fixtures & fittings 25%
Computer equipment 25%
Other tangible fixed assets 25%

4.Tangible fixed assets - Fixtures & Fittings

4.Tangible fixed assets - Fixtures & Fittings
**Cost or Valuation ** At cost (£)
At 1 August 2024 934,171
Additions 372,466
At 31 July 2025 **1,306,637 **
Depreciation
At 1 August 2024 260,525
Charge for the year 101,636
At 31 July 2025 **362,161 **
Net book value
At 31 July2025 944,476
At 31 July 2024 673,646

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5. Debtors

5. Debtors
2025 2024
£ £
Trade Debtors 216,158 239,340
6. Creditors: amounts falling due within one year
2025 2024
£ £
Trade Creditors 230,436 324,964
7. Creditors: amounts falling due after one year
2025 2024
£ £
Bank Loan 260,000 296,670

8. Average number of employees

During the year the average number of employees was 25 (2024: 17).

9. Details of Grant and Fee Income

Details 2024-25 2023-24
£ £
Grant income from the OfS
Grant income from other bodies
Fee income for taught awards (exclusive of VAT)
Fee income for research awards (exclusive of VAT)
Fee income from non-qualifying courses (exclusive of VAT)
Total grant and fee income		 0
111,087
1,686,500
0
129,156
1,926,743		 0
541,500
1,286,500
0
131,435
1,959,435

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LONDON COLLEGE OF BUSINESS STUDIES

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

2025
£		 2024
£
Income 1,926,743 1,959,435
Cost of sales
Commissionspayable 177,034 189,491
Gross Income 1,749,709 1,769,944
Administrative expenses
Wages and salaries 761,349 543,415
Staff Welfare and Social SecurityCosts 41,746 33,355
Recreational activities 3,128 2114
Rent & Rates 150,471 161,974
Heat and light 22,155 17,300
Cleaningand Security 11,006 3,010
Telephone and fax 2,639 2800
Stationeryandprinting 3,004 1750
Books and LearningMaterial 50,333 17,581
Subscriptions 128,647 87,128
Bank and finance charges 17282 5,185
Software and IT Expenses 18,462 9,827
Repairs and maintenance 8,362 28,889
Depreciation 101,636 59,553
Sundryexpenses 914
Accountancyfees 18,543 25,025
Consultancyfees 90,755 45,890
Advertisingand PR 64,938 56,019
Other legal, professional and insurance charges 22,856 14,086
Students Performance Awards 4,000 -
1,521,312 1,115,815
OperatingIncome/(Loss) 228,397 654,129
Net surplus on ordinary activities before taxation 228,397 654,129

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DISCLOSURE ABOUT STAFF PAY

Senior Staff Pay

There is no staff member appointed at London College of Business Studies who earns an annual gross salary of over £100,000.

Head of Provider Pay

As a non-profit organisation, the Head of London College of Business Studies (the Provider) or any other Trustees do not receive any remuneration for their services and are offering their services on a voluntary basis.

Severance Payments

All staff: No payments that are classed as severance payments were made to any staff members, may that be due to the loss of office or for any other matter that results into a severance payment.

Head of Provider: No payments that are classed as severance payments were made to the Head of Provider or any other Trustee, may that be due to the loss of office or for any other matter that results into a severance payment.

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