Charity number: 1119540 Company number: 05507547 EDUCATION FOR INDUSTRY GROUP REPORT AND CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
EDUCAMON FOR INDUSTRY GRIJUP CONTENTS charity Infomialian Dirgcth, R8PQrt (irUdIng Strategic Reprytl Statement ol cporate Gobmarf• and Int•mal Ctr Th¢ Board's Statement the Grwp's regulanty, w)pnety an¢J compliance with luTrJirq terrns ol luTrJiThJ Stalemanl ol Rosp)nsikn'lrt of the Mwr•rn of the Board IndependentAuthtor8' Rew1 to fv Boa Con¥oh'dot¢d Slotem¢nt of¢prIn1•Yv IrK 14 ConBodatsd Statement ol F1wla1 Powilion 18 r.hHrity irf FlThAnri[ PThil ConBoNd¥t¢d ¥nd Ch•rity Slatwrvrt of Char¥Jp8 in 17 ConNol'¢Jat•d CaNh St#trnt Notes to th Iln•ndal statem•nls 19.34
EDUCATION FOR INDUSTRY GROUP CHARITY INFORMATION Board of Dirg¢tor• Th8 Directors of Educat) for Inth$ty GrC IEFI Grtyjpl durwYJ th• )arar¥J to the dat8 of aFs¥oval of lh• annual roport and financial staternents are 85 listsd b8knv'. Kim Longman, Chair Lee Lucas. Pnnopal aNJ CEO James 8arron Iresi9ned 30 January 20251 Laura ChaAes Linda Drew Fiona Gaughan Zare8r Ghadially lappointed 10 Seplemt¢r 20241 Sally Harri5 Susanna Kempe Vamssa SFenca Simon William$ Mr G Coopw Oct as Company S•cretary unbl 8 S8ptemÈ4r XQS. M8 M Campbell actsd as Company Secretary from 8 Septembèr 2025. 3•nlor Po•thold•r• Senr posthc4dgrs are defined ol EFI Gr Lwdérshp T•am r•v•$an by thè lollowirvJ in 2024125". Lee Luc. Prinop•l •nd CEO.. Kelly Barry, Deputy Piinci Simon Mayfkgld, Director of R••ourcw lunts"131 Awst 20251 ApHiTrA 8AmhAAivAn InlArim FInAnr nifArlr 8trwih>y IiiilW. rh¥bI vf liMJu>liy R¥laVrll. EF5 Ti&wMrw 25 May 20251 Ma5hrin Cholhury, Director of operatn• on(1 P•rtnersh Amanda Cofvin, t#rettor ol Mathetlng and SaK Chris Arn8d80, firector of Slral&3y and FuTrJirg Chns M•a. Dirnct¢r of Tochnoknw Digit81 IM¢)VAI Traw Prrtchard. Oirectof ofAuJ•mic Excll$n¢ luniil 31 21)251 Ch•rSty numb•f'. 1119510 coMnY numts•r: 057547 R•gltor•d offlu: Lortdon. ENJlaThY. EC2M 6SE Audltorn: Crm U.K. LLP 55 Lzte Hill LoTrJors EC4M 7JW Bink•rn: Bank of S¢otl•nd The Mound Edinburgh EHI IYZ Bar¢l•y• Level 11. 1 Churchll P*e LoTrdon Et4 5HP HSBC 2nd FIr. 16 Kkng Stre WC2E eJF Sollcltor•: 8at•$ W•lls Brnithwail• 10 QLwn Street Aa LOn. EC4R 1BE P&3e 2 of 34
EDUCATION FOR INDUSTRY GROUP
DIRECTORS. REPORT IINCLUDING STPATEGI¢ REPORT)
FOR THE YEAR ENDED 3t JULY 2025
Thè tlifoctors $•fit th'r Stratsgi¢ R4)rt thè ar+nd•Y 31 Juiv 2025.
Ov•rvlgw
Th• y•ar 2024125 wa8 d8finl by Sta"46" aTrJ C¢6 Ihe Educabm lor Irxlu8try Group IEFI Group).
Following ts¥o years of synrfi&8nt or9ani88bonal thar. mcludiThJ the wthsrtKJn of the LoTrJon Cole of BeaLrty TrapY
ILCBTI and the redevekjpment and rKcup8tKJn of Etra House, Ihe 8hffted ts focu8 from r8pid expan8Dn to
8mbeddiThJ This period placed ernpha5is on strenglhenirMJ intemal systems. 31i9nirg quality framework5 and 9overn3Ke
structures. art1 SUr a COhert afrfl ¢$01ent karr &¥pewc across all EFI Insbtutrffj.
EFI Gro 5 missh?n is to SUPFQrt F4ople in builth'rva th?ir ski15. cweew5 and confthrth throh spe¢rdli$t educat#)n 8nd
training Thi$ w0$& guidéd tho (>oup's deusity)$ L1uriry Ihe yoar, ififiLnuNJ h(x curriculum was develokw, how e$tat•s
and la11¢ re inpro¥e(l. finaw plannry wa• monw ¥TrJ tsy wganl88l ¢onbw to evofve.
The Group 18 rnade up of three main areas of delry. EducBtion for lTrJuslry Group tr&Ying as Fash Retail Acaderny IFFLAI
pro¥id85 SF4cialisl educalh?n in fash, retwl fdated wbJKts. London CO1 of Beauty Therapy ILC8T) focus88 on
baauty, 8e5th•bcs and wellbfftng. EFI Awards Ltd cyrates as Group's ond wnl 8$$Sment organsabon. f¢g8th8r. th•8
areas give the Group a str9 tschnical and prLknional eLlucab"w wjth ¢kar io induslry ne&Ss.
Pybllc B•n•flt
As an 8Xgmpt charity, lh8 Group must d8monstraiè trt •r1 thè havè h&J du# regard io th& Charity
CcffimissJn's guJant8 In the discharge ol tNryir du8
EFI Grow wo¥i¢J88 cknar putAie ty widenry acf83 kj S"St •Jucation in fashwjn. v•tsil. beauty aTra
se¢lor8 where technic41 c8pabiltty a1 empbyer o14nment 8r8 essenbgl Many orrer$ come from backgrou$ where ac(ss
10 8u¢h provi$ion k8 Iim>led, Ihioy9h bursar$. 18r9ekO finatKial gwort 8TrJ IndysNe lexhr$ appfoaches. the Group en$ure$
h¥ p•riiih•t.• fi.Illy.
Slrow mpby•r partneryJhips. indu81ry•inlorm•J ¢AFrrurn do•pJn 8Th18 IooJ8 on wactsal "11& contribute to meanlwfvl
progr•J$ion into ¢m0yrnent, OFwlic¢•h¥x •ThJ hb3lwr slwty, Iwtsr itr•ThJth8r4r¥J Group8 tharilabkry irnp¥l.
P•rfomMn¢• •nd 8tnI expwhn¢•
The Group ewièncd subs18n11 gr(fv¥th du(INJ year. Tirtal16&r numbers IrKw&ed to 3.635. Compared wrth Z.471 In
th? pnor year Thva fefiects both LCBTs first fvll within ts Grwp 8nd susts1j d¥n¥nd lor provi¥Kn 0¢ Ihe Fashi Retsll
Academy IFFiAI. supp)rted by t eyntsj and m&kn at Elsctra toM•.
Applications across FE and HE rem•ned $tror¥J. FE exeetrjed 8.( and HE appl8.$ 9 ty more than 20
porcfjnt. FFA continued to achth hKJh wrfcmIan CKAcom. maintsining strwj achl&vernent rates 8tt0ss all major
pathways thline delIry Saw imprOj retenti orY 8¢hr8n1 ¢wpatgJ *ith fv wewou$ year.
LC8T8 rtrnanCe T8main8d beknw th• Group awarw alban e>yctats)ts At th• F•iftt ol #e4ui5ifr'tfi. A ¥tructur8d
improvem•nt Progr[rn Iocusing On W•r8hip. ¢J#KJn 8Th1 l&am8r Sup * underway. wrth improv•m•nts
expe(ien. demonstyab"rvJ that ctye operats"fm$ conts"n to positive ¢asM¢)w even during a
year of ekvatgy cost pressure.
pe30f34
EtWTION FOR INDUSTRY GROUP DIRECTORS, REPORT IINCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025 Fln•n¢b•l R•vfjow 1¢ontIndI Llnr851rictsd re50rv increased to £10.81rn12024.. £6.73ml. rBfokng the pL9n[j Tvkn5e of TE51r¢ieLI c#piW fund5 now ful 8Fpld to tha EK8th Hous• d•v•bJpmoni. R•stiici•d r•É•M6 r•du¢d to £64k as donof lunds used li t1r ntende(I purpose The &oup remalns free ofextem81 debt 8P8rt the extybrg •ssel.fmance fa¢rfty. vAth repaYmts refie¢W within fina cos18 of £260k. The year dosed wlh [ren1 assets of £10.19m aThJ 11115 of£8.45m. giwThJ n8l current assets of £1.74m and a Strong liqulty p05itsc. Overall. the Diredors wnsider the Group's finoncial poS"0n slaNe and lIlent. Strono 8h reser4es. riwng n$tre balances and continued operating cash general provY a secure ftyjndalion for investm8nL lulure devetopment and delivery of the Group's 8tratsgK priortss. E•tate% and 1nfrutrucI• Two major 8StBte8 de¥lopm8nts 5hapJ the year. The first Was the fijll oper8ti0Tr81 tranS"0n into Ekntra Hous0. the Group flagship t8achir¢ locatKtin. Thè rads¥•Wmènl has ueaiod a m¢JJam. d4rtally •fiab aThr •nvironm•nt with fbxibla spac•s d•swJn•d lo iupport u•aiN•. industy- edut•Th. The 0nd major proj¢d wo8 th¢ r&xab'on of LC8T to th• rfUrahod F9ShK StrB•t campus. Th? nvw sits provldes industy.$tsnd?rd s1[, Ihgrapy rc#yrK8 and ¢th'nKd 8pw Ihat btttw fofi èmpknyof •¥4Y18t)Th1 and •nhanc8 Ihè lèsmar exp8rkryne•. Th0 inwstm•nts provbY• o strong plattonn to supptyt ¢xntknued 9roth. knrwoval quality and frjture vJrrrLtlum 8xpansior•. Ernployor •nd Stk•holdw Eng•g•Trt Giuuy ¥ ¥iw¥ywiwiil ¥viUI ¥rilyy¥I¥ Lits¥l io it8 8thJcalKvial IM¥Jel. M Ihan 210 611wIoyw Y81tsl8 conlributsd to Curriculll d•8KJn, prg•cts. ma8t•rd•M•8. F4•c•m•nls ar•S r•cnJthent p•thw•y• dunng the year. Strong rel8on8hip8 were m8inlain•J wrth WlOrI. w•rding bodieg. 8th0, author9$ and crynrnunity partner8. Th¢$9 collaborat)ns h81p ensLtr8 that18arnws wogr888 10 rn8aniThJfvl empbjyrnent c# futher ibjdy and that programm81 remain aligned wilh industry need. Prln¢lp•l Rhk• •nd Vn¢•rtSTr11•• 8oArd o¥ersees th9h A Str0tsg Rk R•gi8tsr Ihat li r•vi•wd rvjularly by th• Audrt COnkn. $upport•J by Intwnal audll and on90ing manag8m•nt assuran. Group operates in a ¢(mp fun(lin9, regulalory market env+ronment. anJ sever81 pnn¢wl nsks contsnued to shape degsw)n-makiry thro12h0Ut the yaar. One of thé mo81 signifKant risk8 is fufvjing And Wicy unc•rtainty. T Group relifrs heawty on ESFA incom8, and any charKJe to funding rat•s. policy direcbon or SdanI fiumber controLs in •thar FE or HE could have a material mpact on financ4al planning. To milvjats this. the Group nts"nUeS to dNersrfy rts inc(Mme thfwgh h4her educ8ts"on, 8pprentK4ship$ 8fKI ccmmerG81 provisw)n. moniloriThJ polw aTrJ planniw rrluM dgliv8ry. Qualty and student outcom88 remain 8 corn loum. parbcJJL8rfy at LCBT. whith t>oup wtlh acbi•v•m•nt rates b81¢ those of FRA. This gap infiu•nc•s ovtsrall Group rformanCe Indutors The Group has re$wJndo4 by SIrgthen1n9 academ leadership, improwng ¢urrrulum mana9emen¢. efihanuTrg qualty assurance and impkrnentsng tarfvd leamer $LPPOrt. Alignment wth FRA'S more established frarkS conts'nues io drive ryro¥ement. Cost inftation prttonts Bnottf matsiial rffjk fln9 staffing ¢4xls. pii($ aThJ wvjer servKe 811 4¢ preswre on op•r8ting m4rgin8. •8p8¢KqIty In London. MKllvm.t•mi plaTrTrir#J •nd •cO¥• rxjst manAgonI r•main assantial, alongsKle rnaxThising the use of the Gro 8 rnapr es13le5. EcIWa Hou58 aTrJ Fashion Sireet. to ensure growth r8rn8ins 3taIn8bkn ènd eo$t-effetthTrrt. student rtcrutrnent is subsect to thcseasing compeb"ty"on and ecOnCm psSUre$. A Slowdo in demand ty a shift in leamer behaviouf coukd affecl in(x¥n and groth plarA. The Group io in¥esl in its braTrJ: ma?ting, ryloyer relationsh and student experience to refflain COM11¥e and altrackn n a uowded educalion market. Finally. the Group is managing the rtsks assiKthl wrth de.n9 cxywkx raThJe kryrarnrr, indLklir¥J nv curriculwn pathway$. dKJitsl $yslem$ and estates develrym2Trts. Each wqeci r2rries the rk of de*, o¥Mspend or under-delivery. To address Ihis. the Group has strenglhened project governance. intrC#JUd dearer bU51rSS case requirements and ensured that major de10rnOts rtt•iv• ch)se oversKJht from fv Board. P4e4of34
EDUCATION FOR 114DUSTRY GRWP DIRECTORS. REPORT (INCLUDING STRATÉGIC REPORT) FOR THE YEAR ENOEO 31 JULY 2025 Prln¢lp•l RSsk• and leontfjnu•dl With th98& ¢<trs. a$8urernx mec8niw• arKI wwnere ple, &)8rd i8 that the Group'8 [lP81 ri8ks are b8iThJ to an Bcceptth knl. Stratsglc Diroctlon DuriThJ the year. the Board s3n8d oll lh8 EFI Grwp strateg Plan f 202>2030. $8ts out how th8 Group will d8lOp over t next fve years. The Flan ktuses on th thirys that wll matter most to Grp.$ long4erm stabilty and $u¢ees5.' keeping the organisation financially $troThJ. rw$ing standafds and con8i$tery across al areas of wvrk. arn1 en8uring learn$ achieve pc6ittve me8ningfv1 outccw These aims are $upp)rted by a sel of WOfits that iude stretnIre empbyer input into curriculurn de8vJn. irnproviThJ the qualty fi8X1 of ts Gmups arni[j environrn8nts. 8ApaTrJing it8 dyit81 capability. buiklirrfJ StrOr ptrlshI)S ar¥J maintsiniNJ thar aThJ go¥an¢•. Th8 plan ieinforces Group's corg purpgso.. to tr4nsfrym I$. care8rs and IThdtry Ihrc4bah sperialist education and trainirY4. It gives th8 Group a iingkn dire¢tw of Iro¥4 ond o Shar fr•nwth Ihol tc99tr t 8cb'¥ty ol FIW LC8T and the whder di¥Asioni. Leeking &hd to 2025r26. th• Grw) t•diM th• r1th 8 8t•• fffiarl b•M d•ar its•t•J fotrJ8. Th• knm•dl&ts 1xht include nCreaSINg leamer nun•rn wher• Imre ¢Jwn•. mprowrKJ pffjgwi13n mut•• into •oYm•nt and higher 8du&2tton. and continuin9 to In¥sl tn d¥Jttal arnir¥J antt the systems that suprx)rt it The P)ard constilers Iha Group wdl plac•J to lhI on the foundatiom set o¥er tha past tsyo yaar8 aTrJ o)nfthnt th8t th• org8nisaiK>n ean conlbnuè to Stfqngthon rts F4rfNmanc8 it8 sF4ualist Bec¢orB. Longm Choir Page 5 of 34
EDUCATION FOR INDUSTRY GROUP STATEMENT OF CORPOIiATE GOVERNAIKE JID IIUERIUL CONTROL FOR THE YEAR ENDED 31 JiILY 2025 The lolln9 statwnent i5 wovided to rBthr5 ofthe annud reFrt aThJ fmanri?l ¥latements oftt EFI Group lo obtsin better understanding of rts rnan¢t Strte. Thvs stateftwt eo%T5 tho yèarfrcm 1st August 2024 10 31st July 2025 and up to the date of approval of the annual rewt 8ThJ fmantial statements. Th• EFI Group ethvours to cor>knt its trIlneSs.. . in 8¢cord8ce wlh the seven princp& i(JenrfJ ty the Ccmittee on Standards in PbI Lrfe IseMessn•ss, integrity. objectivity. 8ccxJuntability. onnE$S. tt(xTrsty 8nd kadershipl.. aThJ . WhiL%l not having ath)pted the UK CorForat• Go¥emanc8 CoJ& 2018 th& EFI Grc4y ha8 r3ard to ts Pr1r and gUKlance. Th• Board Tha Dir8Ctors who a¢d on th¢ Board year w) to IP iJ•t• ol off lh teport worn M lthtsd bolow.. T•mi of Board mAotin Nam• O•ts olAppolnbMnt 13 July 2CQ5 R88ppoinW 13 Juty 2KQ. 12 X111. 11 June 2014. 9 March 2017. 2 July 2020 30 January 2024 2 Cwmb¥ 2018 Reappointed 9 tcemLr 2021 R•s¥n•a 30 January 2025 27 Jur 2017 Rèapwiniod 2 Juty 21120 afid 30 Juary X124 4 Fthni8ry ?n?? Rpulli{j 30 Jaiiuury 2025 2 C¢xml)er 2018 R•appoinithJ 9 Ce•nt• 2021 nuIry 2025 Zawr Gha(lially 10 September 2024 Salty Haffi8 11 January 2021 30 J•rw•ry 2024 Sunn4 Kemp 3 Maith 2021 ar¥J 30 J•rw 2024 Lee Lucas (PnciPl1) 6 Oct<er 2014 2 Oe(wber 2018 Reoppoinbj 9 2W21 •rwJ X) J•nu•ry 2025 30 May 21r22 RppoIntsY Xt January 3)25 ly••rnl Poulblg 2024125 Klm Longm•n lchoifl Jamai Barroft Laurn Ch8rle8 Frona Gauqhan WA V8n88sa SperK8 Sinon Williwng Th• Clérk lo tl Board and C¢)mpany Sttr•tsry wal C48ham Cwr Ihroughout Ihe ygar. Mia Comp11 wa8 appc4Trkn1 to the board as Compar+y S•u•tary on 8 s•pl• 2025. rlac¥ig Grahn CtsJF•rt re>Jrl on th? doy. It 18 the Board's re8pon8kn1ty to 1[wJ I[denl#9t to twr of $tr•tegy. rfrnanC. resow¢os and standards of conduct. The Board Is prow¢Jed th ngulaf and tsmety inlormthn crf o¥•rtll finantsal perfDmante ol tht EFI Grwp tcgelhervrith other informalon such as perfomwn¢e ffj8irtsl fundiThJ proposed caprt ewdrture, quality mattets and wrsonnel r¢la¢gd matters Such a$ health and safety orvj enwrwnentsi tssu•s. Board at 51 onc• ovory bmi. I goYern8nce busisS was COndted lfvwJh the Bowd. AIrt Cw)the an ab"oMI of scnjtiny in accordancg th its terms of r81er8rts. Th• Cltrk tts thè Board rnaintain5 a roJist8r of fvwnc4al per8(Thl irrtewt8 of Ihe ol Ihe &)ard. r8gBier 16 available fw wwe¢tion al rE9iStereil a<Jr8s5. All members of the Board are abk lo take Mthpervjant prOfeOnal lurtherw of their dulw at the EFI Group's exper and ha¥B access to thB crk to Ihe Bc4rd. who B responsib lo the Board lor erouring ¢hat all ap1¢ts pr(t&ure5 aNI regulatK)fts ar• compl1 ith. 4)POtrnL Oydhjakn aTrY r8rTrJval of the c are maiters for the Board as a hole. P*Je 6 of 34
EDUCATION FOR INDUSTRY GRCAIP STATEMENT OF CORPORATE GOVERNANCE ANO IPtrERNAL CONTROL FOR THE YEAR ENDED 31 JULY 2025 Formal agendas. papers and repcts ar6 suOJ to membors clthè Board in a marw, prior to Board mtirw8. Bring arn also provbjed on on ad hoc ba80. Th8r8 15 a cknr divBicn cl f88Fw$ibikty in that roles ofts Chaw and Prirw#l are separate. Appointrngnts to the 8o¥rd Under Article 26, 811 aprKJintments to Board are a matter for the CSlerat of the Board a5 a wthc4&. Th9 8oard li responSie for ensuring that aFpropriai8 trainiThJ provbjed ts t"redor8 8$ The Principal is an 8X-offi¢io th"re¢tor. AJI ottr Dirnetots ao w4nted for a tenn of Off not excJir¥a thr89 years. folltr•Ang whKh they are eTh'gibk for re-aprK)intment. 11 is generalty expeded thai Director5 wriH serye up lo three con5ecuts.ve terms of officè. but a Direcior may bg app)in¢g(I lor fLthr wms ol offK• rf tho P•)ard 10 in Interests of the company. The company ha8 Bn iTrJudion poky for nww aFWnb1ts lo lh& Boafd. Th c¢hr¥ stmtsgy, tho rngulatory End edUb.n81 enylronment wllhin tha EFI Group cperal85 and 8n5uriThJ that new •re 8w8re of their sponSIbl11t&l as Directors. and as trustees of Ihe chanty New Ll"rettors also vYt the EFI Grwp io m8el vAth wior staff arnl to hear direct rrom sludgnls. Addrtional trainirvJ and bn•fings or• Pro. TectOr reSFW8it4'1its8 rdatin9 to J8fegu8rding ol students w4$ a fecus of IrainiThJ durirg Ihe yg0r. Audit Cornmitt8• Th• Audit Cernrnittee Cc158 a rninimum of mwnbors aTrJ is chaired by a membor ofth• Bokrd. rrent indud¢$ • ¢Npted m•mb•rwth professional audrt 8>perce IB nol a mvmb8r of th? Bowd. The Audit C¢mmitt•• mat thrnt tsn•o dwir¥J tlw yw Al re in atter¥Jafi •t ••ch m••tsr¥J thè oxcaptscn of lh& NvvwiTrbei metriino whère oi Iwill w85 ali 4aL)kn¥. QLK¥iaLV is Iwu I¥175. Tf C(Miilhiiti Iii aLda1 wlh writtèn IfTri6 of rtstéfC• aF¥y¢)v6a W Ihé 8wd. It moèts a minTh4Th c4 Ihfae bmés a yar 8nO provKts$ • forum for r•pcrting by Ihg EFI Group'$ Inl¢rn•l AJitOrS aThl Exwrnal 1t$. who ha acc8s5 10 Ihe Cornmitt88 indgwndent di8CUi8ion. wthcut Ihe presence of the EFI Gioup's monw)eM. The Ccffjmrttha and eonBKl8rn rep)rt• Irom th? fundlng bodi•$ as Ik•y •ffoct EFI Group'B bu5inW. Management 16 re•pon$lbkn Iho inplth))enl8lhin ol 8Jit rnt£rfnmeTrJaim$ and uTrJgrte$ peric#Jic revS8w8 to ensure 5Lrh recommendatTr& ho¥ been mpmentsd. Th EFI Gro.% illtefaal auditors monitor Ihe systems of Internal eontrol. risk rn8nag8ment ntrOl8 and gO¥eMa prCse8 in ¥ccudance 1h an agr••d plan of input ond rport their findirys to m8nag•m•nt th• Audit Cunrnrtte•. The Audit Ccrtrmittee also th• Board oft th• 8Fwntrn8ni d internal, •rbY ¥xlwn•l •(Klilm and thoir rwnunerati¢)n lor both audit and noaL#JIt Wofk. Th• Cornmittee wa3 rend FkwKe arKI Yrt Ctynffllt w 21 Clober2. Intornal tontrol Scope 01$0)nS Th8 8oard Is [Mate reswrtsibK8 lor Ihe EA Gp.9 syst•m of ifttemal ojntrol aTrJ for re¥1j its 8ffe¢tNene88. How8v8r. such a systern 15 designed to manage rather than eliminate the rtsk of lèilure lo bun5 obiKtiv8s. and can provhl onty rgasonabk8 and not absolute 866urarKa 811 mth.al m¢61alemenl or hJ86. The 8oar¢ ha$ delegated Ihe day-104ay rEsp)lb11ty lo the Prncpal, a8 Attountir9 Officer. fG mainlainin9 a 60und SyS18m of Intgmal cgrtrol that 3UPPOrt3 Ihe achieMent of the EFI GreJp's )11&#. aims c&JeC18. whil$1 safeguarding the PLA)lic frJnd5 and assets for which he personally rewsIb. in )rdar wilh the responsibilibes as4ned to hirn in the funding a9ments betsveen the EFI Group Ihe ESFA. He 1$ abo wponsth for reporb.ry to Boarf any matenal weaknesses or breakdowns in intemat ntrOl. Thgpurpw ofthe 8y8twn teMal)y4 The system tsf internal control is desb3nJ to mary Tr&k lo a reawabk rat than to dwninate dl risk ol failure to achreve pe$. aims and obJ"ectNes, li can onty provhle reasonab and not absolute assuran d effectNe$S. Tha system of internal control is based on an process de5Vj to Idtfy aTrJ PriorSe the risks lo the achievement of EFI Group policie5. airns and c&ieclNes. to evaluate the &"kellhoc of Ihose rtsks beirKJ aliSed aryj tt Impact 5houkl they realised, and to rnanage them effICnty, effeth¥ety and e)M1¢aIty The sysknn of irrternal control has been in ace in the EFI Group lor yearerthl 31 Juty 2025 ar¥J up to the date ol 8ppr0¥8I dthe finarKial Statth)nts. Page 7 of 34
erKATIoN FOR INDUSTRY GROUP STATEMENT OF CORPOIiATE GOvERN4CE AJ4D IPttERNAL COP¥tR FOR THE YEAR ENDED 31 JULY 2025 CapoGty to h4Tre risk The Board has revkwd lh8 k8y ¥i5ks to whKh Ihe EFI GP 15 Icwl with the cperabng. finanryal and com15ce controls that have been impkmented to mtyate th(6e r6k$ The &)ard is ol that there is a fomial on09 proces$ for Identifying, evaluating and managing Ihe EFI Group's s3ryfic2nt iisks that has in place Icy the year ended 31 July 2025 LP to date of approval of the finan¢>al s¢alemerrts This WOfM8 is regularly reviwd by Ihg 8crd. Thg rilk and c(xtrol franvM)rtr The system ol Intemal contrd b95ed a fram[ of regular manayuftt inlomwtth. procedum including the segregab.on ofdube&. arrtl 0 $tn aTrt"1. In Pa. rt I1.. c8mpreh9roive tAJdggts'ng $yslem$ with an annual budg8l whKh is rev1wl and agreed by th8 P)ard., rtgular rev by the Board ol wri(¥Jic Ar annu81 fina441 rewts which indi financwl pertom)arth agaln8t for8cMts.' ttlng tsrgets to measure financial and other perfofmanc•.' d¥arW defI9d ¢oPital inves1ftnI ntrol 9uvJelir$'. and the adoption offormal propd rnanagwt dilwh'r, Rovi•w o1offeGtiwr&8s AJ AccounliThJ Officer, the Princip81 has re5ponsibth for revivwing the tiffocb4ryrs Syslwn cl intamBI control. Hii rèvièw of th• •if•ctfvènè88 ts1t syst•m ol tnal conimt * inlom)•J by". the wc1¢ of the executive m8n898r8 wthin the EFI lor Ihe and maintenance of thg Internal conlrol tr8m8WOrt.' and cofflrnents math by the EFI Grow)'o fin¢1 st4tn•nl aj110 arkl Ih tIM81 in manag•mnt and Olhèr reports. Over811, Il repons h¥vg Ind81 ry ¢prnon18ry gTrJ gffgctyv mmanCe and man•aernont proc858es ro man•Jg the 3¢h¥ern9nt ol Ihe EFI Group'¥ obpcts¥es The 808rd c£ffjplebJ a 5ett-888essrnent ol its effethv8n858 during the y•ar. Th• resutt8 di8CUS88d by 808rd at ts meots.ng on 22 May 2tr25. A nthmtw ol xtW8 for iMprovwnt [• idenlifi•d and ha been impknrnenled Qolng ¢one•m Aft•r making •ppr¢w• •wus. IP• 8o•rf wi•tha•rn Ih•l tr• EFI t>w h•• •d•qu•t• to continu• In op•r•tion•l 8$tenCe lor the fore8ee8bk futtl We h8¥e 8atL8tsJ Wr88 Ihgt fijnding oJntract8 fee arè Buf8 For thi8 reason, it coThtiriue5 to adopt tha goiThJ contern basis IA preparing tht firwKial s Kim LongmR Chllr 30 J4nu•ry 2010 Lee Luc ineipal, CEO and A¢eoundng Offi¢•r JO J•nu•ry 2026 Page 8 of 34
eDUCAnON FOR INDUSTRY GROUP THE BOARD'S STATEMENT ON ThE EFI GROUP'S REGULARrrY. PROPRIEfY AND COMPLIANCE WITH FUNDING BODY TERMS AND CONDITIONS OF FUNDING. FOR THE YEAR ENDED 31 JULY 2025 The EFI Group has cAnsKlered its reswnsbi ility trj nthfy tt ESFAof material irwularity. wnpfopriÈty and rK)n-cmipliance with ESFA terms and condibon5 of funding. under the gJf88m8nts in pLgc8 b88n lh8 EFI Group and th8 ESFA As part of our conSaation, ha had due r•gard to r•]uinn8rts cl the fvndwvJ a3r88rrnnts. We confirm. on behalf of the EFI Group. that after eTh)ury. arKI to Ihe best of(xJr krKM. are abk lo Itlentfy any materi81 ryular or imprc¢)er use of funds by the EFI Gmup. or matenal non-ccwnptsan with the ESFA'S tem)8 and CONJ"¢n$ of lunding under t EFI Group s funding agrewnents. Wa confirm that no instarfes ol matsnal irrsgukrity. imprcp any instan¢x are KJenbfd ofter Ihe tjale ofth¢ statwYthL r[CP1kl ha t4on dis¢ov•rod to date. If "1 to the ESFA. Klm Lonymn Chair and Chjd EX*u• Page 9 of 34
EDUCATION FOR INDiK8TRY GROUP STATEMENT OF RESPONSIBIUTIES OF THE IIEMBERS OF THE BOARD FOR THE YEAR ENDED 31 JULY 2025 Ctynpany law requires t mwnlJer8 Oft Board to prepare financial Statements kn each yew that gNe a and tsir ¥i8w of the stal8 of affair8 01 Ihe EFI Crcdy and cl th& wofft or k6$ of the EFI GrThJp for that peritxl. Within th• to5 aTrJ coThlrth?ns cl the fundiThJ agr8wnts &Jreed beTr the ESFA and the Board of the EFI Group. th• Board, IhroJh ils Prinupd. 15 fOUiTed to Prepa finanaal 51atements f exh finaal year In aruXdan wrth the Statement of Recommended praCt-ACCOuntrJ for Further and Educat%n arhl whth gNa a truè ar1 fa'r vitr of Ihe state of affairs of Ihe EFI Group and the tesull for that year In prepanng the financJal statements. the Board i% rryu¥&J to.. . Select Suitab nI1j polrEs arnl apply th consBtenJy. * Make jUdg8nIS and 85b'mates that are r8880nable and pnthnL . Stale whether apPtsb Ac¢wnknng Starthrd5 been loutra. sutqect to Y fflatenBI thparture8 disclosed jnd gy¥)lained in the finonoal $tatem¢n¢s". and . Prepar8 finanria¢ staterrn1& on th990in9 bg0i&. inyrrpriato to aS8wr that lh8 EFI Group will eontinu in 0ratn. Members of thè Board ar• r•spoMibl• ltr•rturirrfJ that •xwndrture and inttrfne are for lh8 purpos95 intended by Partiament 8nd that the financial Iran$actK•ns confomi to th• 8uthorrtI that govèm them. The rnombars of the Board afg rtspon6ib18 for keoping proper acMuntsThJ recortJ8 dI8d0 wrth rewwwb aCT8¢y. at any m8. the financial pOtn f tho EFI Group, and eats them to ensure that the fin8jaI statements comtyy wilh the Compan5 Act 201A and other revant accounting $tgnd8rd$. They 8rn re8pOr£i fN takirvJ slep5 Ihat ats r8a¥rypbty open to il in ord8r to 9gfgguard the a6sets of th& EFI Group and 10 p¥•nt fraud aTrJ other irrEguri. The gov8rrKrs we r8spon51ble for the mainten8nc arb# Integnty of Ihe ch8nty.' and thranu•l 1nlo1m on tr chanty's bsrt•. Merniw8 ofth¢ Board re8F¢)nJibl¢ lorerUria that futh from Ihe ESFA we used in accord8ncA• Wth th• funding agreements with the ESFA and any coThYll$ that ESFA may w8scribg fr¢4n time lo Ime. Membeis of the Boartl miiAI •nAiir• Ihal Ih•r¥ finAnrtAI rAJ)thArt#rth#nt MrrtmlA In Hr9 In nrrlAr tn RAflIArd lyl DIiwr flind8 and to •nsvre Ih•y ar• us•d pf¢wrfy. In addit+, m•mbers 01 tho Bogrd are r8sF4)nsib lor 58oJriThJ econcffiical. 8ffioent and ¢ff¢cliv¢ m8n89emenl of the EFI Group's resourc aThY expwltsjre. $0 thai th• t•rfts that 8hould b• d•rN•d from the 4¢pIAtiOn of publ fuThas by Iht ESFA Arè not at risk. So far a5 each rnernber ol lh8 Board 15 awarg. 1$ no rgthnl lftfom1atTh ol which tho I1110r$ are unawar•. and •8eh mèmter of the Board h4J lakon dl th¢ $tw Ihgl h63he 0ht lo hawa 1•k •8 o member of the Board In ord•r to mak• him6$lllhorièlf are of any rel8¥ant art informat)n aTrJ to 0oWlish that ts awJtor8 ar? war¢ ol tha¢ Inform8on. Ind•p•nd•nt Audbtorn The auditofs. Crow8 LLP, h confim)od th'r ilingr*M to in And the P•)&rd haB approNvJ th'r r98pp¢intment. 81gn•d on b•hall ofth• Bo• Klm Longm&n Chalr Xl J#nuary 2026 Page 10 of34
EDUCATION FOR INDUSTRY GROUP INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF EDUCATION FOR INDUSTRY GROUP FOR THE YEAR ENDED 31 JULY 2025
Opinion
We have audited the financial statements of Education for Industry Group (‘the charity’) and its subsidiaries (‘the group’) for the year ended 31 July 2025 which comprise the Consolidated Statement of Financial Position, Charity Statement of Financial Position, Consolidated Statement of Comprehensive income, Consolidated and Charity Statement of Changes in Reserves, Consolidated Statement of cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• give a true and fair view of the state of the Group’s and the Charity’s affairs as at 31 July 2025 and of the group’s income and expenditure, for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
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 of the group 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 governor's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's or the group’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 governors with respect to going concern are described in the relevant sections of this report.
Other information
The governors are responsible for the other information contained within the annual report. 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.
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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
• the information given in the directors’ report, which includes the the strategic report prepared for• the purposes of company law, for the financial year for which the financial statements are prepared is consistent with• the financial statements; and • the strategic report and the directors’ report included within the governors’ report have been prepared in accordance with • applicable legal requirements.
Page 11 of 34
EDUCATION FOR INDUSTRY GROUP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EDUCATIOM FOR INDUSTRY GROUP FOR THE YEAR ENDED 31 JULY 2025 Matt•r8 <Jn v&thlch we are rnqukod to rwrt by •xwtlon In11gM of kn(wledgtr awKJ urxlw5tarnJiry gwoup aThJ chsrity 3j Ih8ir en¥irl¥t obta in th8 cour59 of the 8udit. we have not erttffjd maleri•l rntsstaterneftts in Ihe strategic rwrt or the direciorn. Try)t Ilu0•d wthvi tl govomors, rgport. W8 have nolhing to r8POrt in rgsFcI of fv foMw"n9 mallers in rtw to Co7)pariM Act 2¢XE requires us to r•pDrt to you rf, in our cp+rion'. . the PanI company has not kept adequate aCCLMJnlry e0rd$". or . th8 parent cornpany finanoal 8ta18m8nts ar8 not in agreement wunty.ng rOrd& feltYn8'. ly ' certain d15closure5 olgo¥emors' reMUratIOn 5peufied by law are not rnad8', or • w hav• not r•eéfftd all th• inlumabon and ean#tions rnqre for our audit. R••pon8lblllU•• of gov•n A6 e¥p181ned more lully In 8latement of respMsOihts tsf th• memb•rs of the board 581 wl on py 10 the govemors (who are also the directors of the charity lor the purp)$88 of c(xmpany are re8pon8iNe for the preparabw of the financial $tstements and lor bein9 sat0fd that they 9¥ a true an¢ fair and for $uch Intemal control 88 the 9ovemofS detsmir• is n•co8sary to of fi81 stat•m•nlS thAt are fr•è from matwl rnwlatwrnl wheth•r duo to fraj c error In prgponThJ thg fin?ncJo1 stst¢rn¢nts. 9mrnorn or• rMponb br ¢h•nty'$ ability to ¢xnbnue •• 4 goirYJ tt•rn. disd¢sing, as applicable, matiern related to goThJ concern and LtslThJ the going Ccc£M basi5 of aCcntIrrta unl98 th• 9ov•m¢y8 Ortlwr in¢ond to lJuJ•t• th• dwnty or to ¢•as• owationi. or have no realr6tr alternatsve twt to do BO. Awdltor'• r••pon•lbblili•• lor th• •udit of Ih• fin•n¢iil ¥tstefflen¢ Uui ¢)bJètlivès ère to •t3 reaTrak9 assuianc& at<4Ut Wh&moF mo Iin3iKiai &tatem•nts as a wn0 ar•1rn8 trorn rnaMn¥i mls8latem8nl. wheth•r du• to fr8ud or error. and to an 4j110rf1 faport thai our opinion. Rèasonable 865uran 18 a nigh level of assurance, but B nol a guaran th81 an au¢Jrt Condted In accordance wth ISA$ IUKI vall aayS deieet B material mi581818m8nt when It ext5 Misstatements an80 kn fraud or ?rror an(1 arg ¢on$idere(I ma¢eri?I If. in(Iividually or in the aggregate, thoy reasonabty t• exwd•J lo inkn Ihe econun decxw OF users taken on th¢ bo91$ of the8• fin8naal stat8mwt8. Detalls ofthe extent lo kh tho alitw conmkred capabkn ol detactw trwu1ant. trduding frnud and non&cornpIK4n wilh law5 and regulalions 8re set out ielow. A lurther descrpbon ol oui respon8silthes for audrt ol the fi'nan¢i81 $tslements is Ioc8ted on th• Finanekql Réporbng Countsl's bsrte at ww.frc.0rB.LtkJauditorsre8P81lliIp8. Thij d88rmptson fomis part ol (xjr audltof8 r•port. Ext•nt to T•thi¢h th• #udit w4• ¢on•ldDr•d ¢pbl• of d•tKllng Irrngularlll08, Includlng fraud Irre9ul8ritse$, 11KdIrj fraud. •re irot•nc41 of lanc• la fft3ulal)ns. W• wjentffiod and •s8088•d rfsks of rnateTr81 mi8statem¢nt of finan¢i?I stalerrents frorn Yregularths. to fr8ud Of error. and discu86ed these betsn our 8j11 t8arn mernbern. W8 then degned aTrJ Ferformed a111 prOureS re8pon8¢¥e to those risks, indudiryJ ot)tsnirg audit e¥thnce Sthwnl ond to provth a b•sffj for our opwiion. We oblaingd an understsnding of Wl and re9ulaW fraffork8 ¥rilhm whth the charity and group ¢)perat•$, focusing on th08e laws and regulations that h8¥¢ a direct effe¢l on the detemiinalK)n ol material arn¢wnts and dis()sures in th& financial statements. laws and regulations cOnsered In th18 COTrtextre the convn8 Act 2[ and the ChantS Act 2011 togèthèr wilh the Stattrnenl of R8comm8nd8d Practicè." A¢counlw for Furth8r and Huher EdUCatn 2019 lthe 2019 FE HE SORPI and In accordance wrth Financial RepDrbng Standard 102-"The Financial RepDrting Standard applicable in the United "ngdom and Republic of Ir•land' IFRS 1021 ass¢$8wI rw4uw•J Its8• a1 rtyulatKJns 8S P8rt of our audit procedures on the related finar81 BIalent iterns In addrtion. we c¥ide prOvffjr of olher la 8nd wulabons Ihal ¢Jo not have ¥ dirett effe¢t on Ihe hancial 5tsternents but Complian wilh which might be fvndaffnlaT to the Group s abilty to cperate or to avokl a material penalty We abo Considered the opportunil'es and irK8nl'ves Ihal may ex1 wthin Ihe chaw and the group for fraud The law5 and regulatn$ we consided In this nte ftjr the UK wraborts We health aThJ satsty wulatKJn. taxaiM islation. smthoyrn8Tr1 legislalion and Gera1 Data Protection Le9ation IGDPRI. Auditing standards limit the wuired 8udil PrdureS to thntrfy n0n-c0mpliare with these la%¥s wuktiorts to enquiry of the Governors and olh8r ManagenI and insFrttion of regulatory and al CureWden. rf any Page 12 of34
EDUCATION FOR114DUSTRY GR(XIP INDEPENDENT AUDITOR'S REPORT TO THE MEIABERS OF EDUCATION FOR INtWSTRY GROUP FOR THE YEAR ENDED 31 JULY 2025 Extsnt to whlch the audltw conslder•d ¢op•bl• of doi•¢tlng Ifr•gyEarrtlM. Inthdlng fr•ud l¢ontlnu•dl We id8nlffj•d th8 gr6atst of ma18r1 IllGt th8 finanlaal statwn8nts [¥n iffwUL8r0S. Iuding frawj. to b8 Wrthin tha recognition of income and Ihe overnde of conirds ty ManagertL (r audit pr¢xedures tts le5pw lo these n5ks indudod enquirw of man•Jwnent. and the Awlit Ccthmrttee at thwr thnts"fUts" an¢1 86se$8ment of the risks of irwularrties. sampk t8Sting C the postirvJ of purnals. ie5ted th8 applicatbjn cul-off and le¥ue reco3nttK)n. particularty around revenue grants from ESF& luilion fees and donat5". re¥ accounh"ThJ 85bmate5 lor ases. Ing regul8tory corresporn with th8 Charity Commtssion aNJ Olstsd". and radiffj minutss ofm8ètiffjs ol those tharg8d wth govomarK8. ving to the inherent limitations ol an 8udit. is an urwokJ8ble risk that we may not ha¥e detecte(18we materi81 stateMentS in th8 finanoal s1818m8nt5. 8v8n Ihough we hav8 WOP8rty ann• and our audit in accordanrA th 8udiling stsndards. For exarnple. the lurthtr remo%vJ non- ttynp1lce wrth law5 and regulats0Tr5 lirregularthe51 trom the e¥&nts and transxllons refvct•d in th8 financd 8tat•mnb. tr l•ts lik•ty th• inty limthed prtt•Jur•8 r•4uir•d by auditing standar¢Ss thnbfy In ditiOn, as Wth any aart. there reffl8ird a htyJlr ii8k ol of irwurilI88. a& th858 may invofve cc41usion, forgery. intèntiongl omA8lons, mr6rsprsssnt8hons. or tl of int8mal thntrols. We 8r8 not lor preventtrvd non<¢ty1anCe and cannot bo •yctod to nOnrac with all Iw6 and rngulat#)ns. Ll•• ol our r•port Thra report Is made soKryly lo the charity's mernrs. as a bc#Jy, in Hccordance ith Chapt•r 3 01 Part 16 of th& Cornpanio$ A 20C6. Our audrt work has b88n uThlèrt8k•n 80 thaiw• rntyaht $iat• tts Iho th8rty'5 rn8mb8rs rnattèfs Bre required to sl&l8 Ip Ih8rTI an •udilDr ¥ Fgport JnTJ Ipr 011[ wipose To ts fu1kn51 ex¢enl pBrffjilI1 bylaw. wo do nol aLCePt 01 a5sum• pDrYibility lo ¥nyon• tr Ih¥n lh• th• rh•rty's rnt•r •B ¥ ldy, lor our work, lor this rvpryt. or for the cpinion5 we ha Jayiio RO IS•nior Sl•tuiory Auditorl For and on bghaK of Crowe U.K. LLP. St8tuW Aulilor 55 Ludgath Mill Lond EC4M 7JW Dale. 2 February 2026 Page 13of34
EDUCATION FOR INDUSTrY GROUP CONSOLIDATED STATEMENT OF FINANCIAL POSITK)N AS AT 31 JULY 2025 A• at 31 Juty 2025 Group As at 31 July 2024 Group Flx•d •88•ts Intangib assets and grKthill Tangible a5seiS 11 12 1.059 5.197 0.7Sf 6.2&fj Current &820ts Trade 8nd other r1¥¥bS < 1 year Trade and olh¢r receivabknj > 1 y Cash •t b•nk •nd In h¥tYI 14 14 18 1739 824 1.828 8.907 10,187 10.733 Credltorn. amounts falllr4 thJ• whlhln orA y•ar 1S 14.9251 Net current a880ts 1,736 5,808 Totsl o¥•ts IM• ¢yrr•nt Il•blll¢l•• IIA34 12.064 PrOv10n for Il•bllltl•• Othèr provY610ns 12.064 Income ar0 expenditure re?- r•8trthJ re•er% Unrn•lrlctsd r•wr¥ Inci)m• •nd •xp•ndrtur• rtt•m- nItr1 I• 18 S.339 10,809 6.725 Total R•Mrv The 8ceompanyirrfJ not•8 pagt8 19 to 34 fc¥rn p8rt 01 Ihese fiTraal 8t8ternents. The financial statemenls Trhere apwtyd by Ihe eoard an aulhcwJ f(¥ 189 $vJn8d on its behalf th81 dale by n.1 !J.&&nd Klm Longman Chair afidc Educaon for Indu8ty Gmup. a pylvats ¢(myny 1SmSi•d guarnnts•, r•o18t•r•d In Enolnd and Walo8. R•gl•t•r•d Nvrnlr OSS07847 Page 14 of 34
EDUCATION FOR INDUSTRY GROUP CHARITY STATEMENT OF FINAPXIAL posrnoN AS AT 31 JULY 2025 A• •t 31 Juty 2025 Charity As at 31 July 2024 Charity £'ryJo Fixed a880ts Tangb ass8ts IsIrnat in sthidiarps 12 13 382 1.941 5.197 1,941 Current •8••ts Trado and other rÉ¢eNabK85 < 1 year Trade and other recewabks > 1 y Cash 8t bank and in hand 14 14 1208 819 470 ah97 1,415 8,155 9.570 Cr&litorn' •nounts falling du• ilhin one year 15 17,0011 14.8331 N•t eun•nt •¥¥•ts 1A96 4,737 Tot1 a4••ts Igm curyont Il•billll•• 11M19 11,875 t4•t M•ot• R••trl¢tsd r•Mrv•• Income and exDendilure rew¥e- rgstrkknj r•s• 5.339 Incorne 8nd 8xpgndilure re8eThe. unwtrKt¥J r•Mrn• 11.755 ts.536 Totsl R•ur¥ 11 A8 pèmitttd by 08 Compgnw 2C(fj. Chnty hm not pr•Mnt•J rti trii Irwno 01otomgnt rdotod nol•i. tWI¢At fof th• parnnt only was £56k12tr24.' 8iirplLO 01 £S.7CthI. T1 ¥comp8nyiThJ note8 and polic on pw 19 10 34 fom pt oftheae finjnryal •tatwrnnts. T financial 8taternenls ware ¥F9re by fv Board •n on rt8 b•hall on that dats by.. .. End ve 8ban Kim Longman Chair PrirKipal BTrJ Educat for Indu•ty Group a pthal• company Ilm1t by 9u•r•nt••. r•gl•l•r•d In Engl•nd and W*b Ro95stored Nurnb•r OSS07S47 Page 15of34
EDUCATION FOR INDUSTRY GROUP CONSOLIDATED sTATEmEP OF COMPREHENSNE INCOME FOR THE YEAR ENDED 31 JULY 2025 Year end•d 31 July 2025 Group Y•ar•ThJ8d 31 July 2024 Group Incomg Turtion fees and edUt ¢ontrac Funding body granvconlrxt inc#rr Other IrKo Donations and eryjowrnents Interest and oth8r financ¢ iccm• O.lJ92 15.9S8 279 3.816 12.522 433 5.183 Total In¢om• 24,314 21.976 Exp8ndltur• Staff costs Other oper811ry eyn8•8 Oepr8ci8tion and 8mortisabon Inler•618nd otr finarKo ccots 12.423 7.43J 345 11. 12 Total •xp•ndllurn $05 16.081 ID•lkW l •urplu• forth• y••r 5,895 Total comprnhon•i¥• IloMI I In¢om• Ivr th• y••r Rèprèsènlgd by.. R8Stricled ComprPrn irKom? lor lh8 Y8ar Vnr98trrl> comprnsv. 1981 tott r 1.191 5.895 1.901 13,0921 5.307 All item8 of incorrn and to tinU1 athw"Il•s. The vAmpanyirKJ ot•s and polK*N w p•Je• 19 10 34 lom) part ol lh• tylaiwnts. Page 16 of 34
EDUCATION FOR INDUSTRY GROUP CONSOLIDATEO AND CHARITY STATEPAEKf OF CHANGES W4 RESERNES FOR THE YEAR ENDED 31 JULY 2025 Group Unralricted Tolal Balance at 1 August 2023 32 6.1sr 6.169 Surplu$ for Ihe year S.307 6,89S Totsl ¢ompr•h•n•fv• In¢om• fr•r th• y•ar 5,307 5.89S Bahn¢• at l August 2024 5.339 0,725 12.064 Surpluslldoficlll lor the y88r Rease of 6nd¢)wmenl •) r•strKtsd 4>•nt m y•w 13.0921 7,178 17,1761 Totsl ¢onwrnh•n•fv• IltsMI I In¢omp forth• y•Ar 15,2751 8aianco al 31 Jyty 2026 Ch•rfty R•8trictthJ Unrostricted Tot•1 rooo B414nc• •t 1 I91t 2023 137 8,109 Sum$ for the ye¥T 5.307 5.700 T¢)tsl ¢0rnpr•h9n•i in¢¢yM torth• >•ar 5.307 399 6.700 Balan at 1 Au9lWt 2024 11,875 surplus1ld¢I%I lor Il year Ral8888 of 8ndoyent Bnd reNlrica•S luThJ• •wnt in J*ar 1,9)1 (7.1761 11,9571 7,176 Totsl Cornpr•h•n IloMI I IKom• lor th• y••r 15,2751 5,219 Balance 4t 31 Juty 2026 The ¥ccompanyirva notes and pG4wg PW8 19 to 34 fomi wt d th•s• finarwial 8tatefflenls. Page 17 of 34
EDUCATION FOR INDUSTRY GROUP CONSOLIDATED STATEMENT OF ¢ASH FL¢Y•IS FOR THE YEAR ENOED 31 JULY 2025 2025 rooo 2024 £'ooo cash flowfr<)m 0rating 8cti¥iteB IDefKitll Surplus for the year befo tsx 5,895 Depreciation Amortisation of intaThJlas Increase in debtofs Increase in cwdrtors lexduding finance Increase in provi$ior Adlu8tment lor Inve•tin9 or fln¥n¢lng xlfvlll•• nteresi payable Int¢ro$1 r•c•ivaU• 12 11 14 15 15.1 1,246 111 11.7371 2A62 $61 345 16901 3,648 200 1841 1221 Ca•h flowlrom op•r•llng a¢lfj¥lifj•• Taxation N•t ¢a•h Ilow from op•rnllng •CtlvltloB 1.627 9.178 17 1.827 9.178 Cuh now• lu••d Inl Invmtfjng rlivlt Proceeds Ircffl saS of t8r#Jibl¢ assets Pbyffnts mle to 8cquir• tang$ ass•ls P&yrnnts m•a• to acquire wrt8r¥J>l8 as8818 Inter861 red 12 14.7991 14,0321 22 14,7161 15,1171 Ca•h flo from flnanelng actl¥ltl•• IrKrease in fan¢1 leases Inlere81 paJ on 0$e liabilit Is 1.065 12601 806 ID•¢rna••ylnem•• In e•h •nd cuh •qulvahnl• ITh th• >•r 2.283 4.059 Cash and cash equN8kTrts al beginniTrJ cl thg ye Cash and cash •quN8l•nts ai •nd of the year 4.848 8,7 The ac¢ompanwrq ntkn8 .¢1•$ on pap5 19 10 34 form wt ofthese finarwl •tal. Page 18 of34
EDUCATION FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 1 A¢¢ountfjng poli¢ip5 In accordanc8 with S8fAKJft 3.1 ofths FE SORP. slAtwnI ol PrinWknx¥thtirvJ Polic485 aTrJ E8timatyon Te¢hniques are yesented Ihrough Not¢$ 1 aNJ 2. Educatsc Induslry (>wp bs • ¢harrty irthrF¢rntsd Er¥JLgrkl arkj W¥los. Th• rwJi610r•d offic8 r8 Elgctra H88. 84 Mwrgale. Lorwjon, EC2M 6S& group consi8t8 of Edu¢8tKJn fr)r InthAty #rKI all of t.1 Accounllng ¢onv•ntlon Th8 n8¢Y1(1ted 8nd Chaffji financb8161a1rtt ha%• t4) Nop4r•J in actord8n¢• ¥Alh UnW nodth unling Sland8rds, in¢luding Financial RoportiTrJ Stsnd8fd 102 Tr Far+traI R•pO"rj Starthrd applic&b in th UK and Republic of Ireland I'FRS 102J and the Statement ol praCts ISORPI.. AcccMJntiry lor Further and HwJh•r EdUtICl20lg •drtwl I'FE SORIT. paont is a charty aTrJ public tfft entty 8nd Ir10r0 h88 AFP1 th? rgknvant bon8fit r8quirThnt ofthe aFplicab18 UK IMVB ar¥J xcounmg st8nd&rd8. Th parent atso a pnv4te e•ny ty guarBnlg9 without shar& tapital. 1.2 Ba•1• ol prnpar•tSon T linanaal $ta¢Th)t• ar• prwod in iierlirwJ, fwxts"•l ¢)Jtr•n¢y of the group. Mort8ry •mounts in the8e finan¢1 8tat•m•nt8 are Ic no•wl £'tsJl. ThA hAAn iirnlAr rmt Thfv vmjnlry 4dopte(l are 8et bttl. Th• Charity 18 0 qu¥hfyirKJ •nlrty lor tr of FRS 102. bety I parnnt of a grw) th8t prnpam publidy available conaolidaled financial s18lerneni$. irtILirJ Charty, are int8Thd to gi a true ¥nd 14ir vbw d th 886ts. li8bili11. financ¥al position a1 prefrt or of the groLP. Tr Chanty h8s t10r i•kon advantsge of exemptions from lh• fdbwing dHck4ure requirem•nl8 par1 8nDty infomiation prewtsd within tha con8dthbJ finarKi•l •t•t•m•nts.. . SeCtn 7'St8t8rrnt otC88h Flw. Pr•WntaIv of a slalemenl cl cash fl¢yAf and rel81od notas aThJ dy8c1Ures. . Sectn 3.3'Finanas1 Reporting Requirew': PrenOn of fin¥n¢ial statements and ac£tsnpAnying noteB In 8¢cordan vthh th• FE SORP. 1.3 B•8h ol eon•olidatloTr Thè consc4J8ted fin8nrio1 stat1 tlw finarval th• Charity and all 4t5 subsl8r for Ih financk41 year io 31 Juty 2025. l intr•roup transactions, baL3n and unr•aled gains on transxtbjns group c(¥))pani•s are 81imin8b C4)nsolidaiion. Unrealised are also dminat•d unstsa Ihe transaction provths eMtnce ol an impailrnent or tho a18et transferred. Subshdiark88 are 80&dal in th8 grtyJl8 finarxiEI 81atwrnts Ircffi tha t18 that tntrol eunrn?n until the dat• that control ce8. 1.4 Golng ¢onG•m Liquidity The Grujp conb'nues to maintain a stroag IyuQity posbM. k at 31 Juty 2025, cash and cash equivalants total £6.62 milliw12024" £8.91 millwl. The refects pLgnn&J captsl the Ewra House fil-gut and in¥stmenl in the new Fa5hK•Tr Sire81 srte for LCBT Ihis. thè current ratio remains r(AJSt at 1.1 d•nonstratiTrJ that the Group can rret ts short.term Wilils ahnost time5 Over. FY2023124. the Group wured £1.92 millioTr try asset to supw1 the Etha House development. Repayments cornnrKed in Septem 2024 and affj schedukd to compkte wthin years. Wl repwent5 have b88n meton time. arnl the Group the capacty lo seb tt* Iwblty early Page 19 of34
EDUCATrON FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEkEKrs FOR THE YEAR ENDED 31 JULY 2025 1.4 Goirvj concem leontlnwd) Oporating R•8uIts For the year end8d 31 Juty 2025, the Group reFQrtaY a aed d8fiul of £1.19 milhon12024. £5.90 millDn surplu51, in line wrth rts strategic investrnent programme. The (Èfvit wrnarity 5uts tyom the lease UntIng tatrI)ent for Ectra House, which include$ 0 21-M(th renl-fvee rnfx1 nt for a futhr 3.5 years. und FRS 102. ase costs must be regni3¢d e¥enty mr 1>year term, resutb'ryJ in a [-h rent eynse of £1.95 m41ion duriThJ the year. Addrtional pLqnned eyp8nditur8 SI a synfi1 crease in $iud8nt nLmkr8 expanded detNery capacity. D•spite the reported defrt. the Group s financial F51tn rernairo Jirory, with unrestncted reser3 to £10.81 milllon12024." £6.73 millK)nl. r•ll#¢b"ng Iha rOa$0 01 £7.18 millth w) rèsknct8d capital luTYJs. strorrfj reserves base prowtles suffowt cyjty to absub pl•nrJ Mmstment sustsin operabon8. Funding and Iorne Gvo¥rth Funding FY2024125 wa8 confinn8d al £9.16 millKJn from the Educat)n 8nd Ski#J FuTrJing encY IESFAI, indudiw t171k for Stj•t aTrJ finanual 5UPWt The Group conb"nu85 to dIfy its income ba58, wth hi9h8r educAlien provl$lon r•y•sMtirvJ Prtd 21% of inem. Student numb¢rJ 84nrfrAntty folbwirwj ol Eleth Ho, furtw grrhvth 13 ¢wt¢d to increa future ESFA allocathJns IhroLuh l••8&fvndry mrth. lIoI9<¥9MTrt bJrlirg cl £824k waB to Support kay strategic Prh?rrt. Th• Group also from portnvrships wlh •mpWr¥ and 1lry w80rn. •nBunTrJ It5 provision rg1g¥ani an<1 dwnand-w acqui8ilW ol LCBT in Febryary 224 has lunher 6Iren9thg the Group'$ p)81t, addirg £3 73 million +n conf1rrj ESFA fsjnding an addilwwl plot1c for gr0h Ca•h Fk+W ConMnltm•nl• Net cash Infiow Ircm operaiing ac1fvh duthg FY2024125 w8$ t183 miMIN12024.. £9 18 Mil)}. relecbng th Inveslmenl phase 48WCl8ied with the Group'i exp¥ pr09r•rM After wtal aWliture of £4.80 million. th• Group dosed Ihe year wrth £6 62 Mill re$W. mwiagwiwrt to 8lIKlQrt 0ratn$ ond pkqnned wnmilment¥ Group h88 8160 rc3n w OMr0 I0 of £1k tr Ihe formor LCBT 8rt• 81 Ramill Hou8e. whkh gxplM in Septwnt4r 2026. Th h•$ fLY do not wesent • mat• rbk i014qtshJty. 1.5 Rv•nu• r•cognlflon In¢om8 18 from tuthn fws oThJ educatrm ntro(l8. Where aFpliC8b, re¥enu8 k8 at Ihe lair ¥8lue of the COTrShlerahon recéfvab fcf goods and s•Neès provh#&J in thè nomal tr5e 01 busines5. and 15 5hcthn nel of VAT and other sak rèlated ta5. Th8 fair vahje of c0nsh1ersth tskes into account Ir•Je di015. 5elllern8rrt dCount5 volume rebates. 11 is recogni4 in the CwsoliJ•ted Statement ol Compfehenst¥• when ts &oup aThJ t Chanty sattlfies rti parfomanc• ob18.0n to ts $tThr the has obtsird c4ntrol OF the gTr)dJ $ervKes bgirvJ transferred. When cash Infiows a defe¥red and represent a fin8ing arrnr4went. the fair Val of the conswJeration is the pr888nt Value ol lh8 fuiuf8 recwpts. The drffvr tl* faw valug of the wn8ttlerabDn and Ihe ncrninal amounl yeVed is recJJgni8ed 08 interest irK0. Re¥enue from the of gDrds 15 r•ccgnLqed when the svJnrfKant risks aTrJ rv•Ards cé 0ershP of the gc•Jds have Pass 10 the IAJYW Iwualty on dispatth of Ihe 9tyxtsI. am¢xJnl ol can measured reliably, it 1$ probob that the economic benefits wth the transxtion wll I io Ihe entity and Ihe cc6ts incurred or to incurred in r85F4Ct of th8 transaclpjn can te measured r8h8tty. Page 20 of 34
EDUCATION FOR INDLLSTRY GFIOUP NOTES TO THE GROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 1.5 Revenue recognition Icontinwdl Tuition fw• and eduution ¢ontr¥¢t• Income fr(m the ofturtion aThY &JuCatW lIa¢S 15 rneasured al ts laii Ydlue ol the arnount8 vthKh the Group and the Charity expwts to te entthd to in excharge for Ihe ddivery of the semces. TUitn fee inccrfne is rewn1s 0r tts penod ibAwl8 stLiThJ. as tha students simuttarnously recei¥e 8TrJ consurne all of the b8n8fits by th¢ an(1 th8 Ch8nty8 FwfOOnrx In¢Le Ir¢m education eontracts is rEccJn158d as the Group and ts Charity gati8ts8 wrfryrn9n obligatun$ in the contra¢t8, Trwh¢h ré periLxI in which stLthits lh• ¥J1)n sorytss. ConsKleralion recei in advan¢ ofthts of iht 5aTvThs a5 a coniraci a'lIty in the Consolid818d Ststsm8nt ol Fin8noo1 Po81lv and ty 8thownYy reix)9noed as in¢Lxne a& tho Group and Ch•rily sati6fs its rfOrnnts dAwJatKrn. 1.6 Oth•r In¢om• Revenutrrelated gDvemrn•nt grnots irUdIr¥j from EFA arKI SFA indud8 bJndir¥J body r8CUTrent grBnts End other gr8nls are recognised as IncA)m owr IN• wrKxts in Group Charity r•ts)gnis•s the rdoted eos15 for whKh the grant 1$ inteIe lo Whwe port of 8 govemftnl grant is defarred rt 18 recogntsed 88 dèf•rMd inccffio wilhin creditors. Any unthr lx o%r a¢hi6vemeni fof Skils is lor ar¥J rl•j in lha101 of108n1 grant r8cogni8ed In the Income and eyndrture aexouThi final grwi 18 rK)mialty d&iemiin&1 wrth th& conclusion &udiiS. 1&115 thrr1¥i¥¥Yu1pblW¥ luivjiiw #b rM)I SUWI io 1wxxiialbO11 w¥J * Itwf¥loi¥ iiot $ul4¥d lo L41)Ii¥Li adju8M8nts. Bur8•rbJ •re ¥x0unl for 9rc41 eyK1rturn •nd noidCl•d frN) Inc•. rnrnent granls fecwth(l •• ep¥ethJ eful Irf• ol Ihe as80t. part ola go¥emmenl grnnt is d81•rr•J it ra as d8f•rMJ %wlhui er•Jrtors lhxa I)ets4n ¢reditws due wthin one ye8f and due after Ihw as apywiats. L%)n$tr rec¢gniged 89 incw when ¢>ow wJ ¢•rty is enbtkd to the luThJ8. The main type ofdonabons and ernjowmenls within r•$W ". ReBtricted donalionB. the dornr haB that (b)rwtrJn rn1 b¢ for ¥ pathlar ¢ty"ect. Donat p8rfom8nrTrrelaled ¢0Th1th8 (efxfjnwl as Infxne when the pthm8nctrre18ted w)diti$ are sat15fd. For donations aTrJ eTrJowrnenis wlh donc-mFed restTrSKsn8 (b no Férfan-re1a1?& condthons exist). IncoTh is reccgnised vthen the Group and Charity is entided to the lunds. IrwThe is retained wthin the re81ricied reserve untsl such timè thai it is utihwj in at£ofdanL¥ Wrth sueh re8trictscs at which pJnt th8 incor released to general reserves thffxJ9h a reser% transfer. lThv•simont irtcrfn•. indJ1 int•re51 from slKrt-t8Th (*ts, rwrw5•J a5 in CorBolwJ8bJ Statement of Comprehensw Ir on a fecelvabkn basis. Page 21 of34
EDUCATION FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 JULY 202S 1.7 Empltsye• benefits counting lor retlr8mgnt b•nofits The Group and Charity oparates two schern. t)th ol whbth a defiW o)ntrubw'. Drfined contrlbulion Plln A dafined contribub.on plan is a Post-emOYMent b)efft an uNJer whKti the Group and Charity p8ys fixed ContrUti$ into a separate entty and wll hav8 9al ¢y ¢$bUJ% ob"gabOn to pay ftjrther amwnts. Obligation8 for eontnbutions to defimd contnbubon anS are recogn18&1 as an expew in the CO[atl Statem1 of Comprehensive Inccffle in the durw4 servtes 0 f8TrJered by employ. P•ople¥ Pension Staff are aul¢>ènrd into thg Per,8 Pern8ifm schwm C iDN4r¥J EFI Group. subJe¢l to el¥J41ity1rn88'ng th aulwrolmenl roquirenn15 Staff auifrenrc418d rfymain in thi8 schM uth58 ty opt ouL The wnployerf8 conlribution Is 3% and the empknyee's conlribution * 5%. Prud•ntl•l Stskohold•r p•non {•dnnI•l•rnd ty Prudonti•l pk.) Staff are ab to join thls Fension after Ilw ho passed thew tyobabon pericd 18 3 or 6 monthl depending OTr the rdel Wrth the ex£pbon of the CEO, Ihe ner matches conthjtn5 01 up lo 5%. Thare is no limit to •mpbyee tr)utiOn. meaniw staff can exceed Ihe 5% bul Ihe nOyer cty)Irknutson capF¢d 8t 5% The mo¥t cmon eontributDn rates ar? 5% emtyoyer aThJ 5% omploye8. EoyeeS ore lthsed that Ihty must opt out of peop,8 Pension before inIrJ Ihe PNdenlkg1 scheme •$ Ih8y cann te in 2 8th8m88 at On The gssets of t schame are held 8eparatdy fri tlth• panY In an iTrjOnd athiinY6tw•J lund. Short.t8rn) •mploym•ni b•Mfil¥ short.lerm 8mploym8ni benefits such as n¢$ w• 88 w eyp8n$e tn tr ye8r in the empW?N lthr Serv• to th• and Charity. Any unused benefit8 ara 8ecNèd arJ M?ured 88 the 8ddilion818mwnt tha Group 8nd Ch8rity eycts lo pay as 8 Tosult of th? unused enlitbment RgdurK5anty ar• rwnwd as an eypgns• whK the thanty b¢cr Irre¥os•bly curnrnilted to intrjrring t ¢oits and the mwn fe•tur•8 of rAans b •rbrKJwc•J to aff•#•J 1.8 L••M• L•aM8 ar• ¢l••sffied a6 financ• whonthw olthe trarAf•r•uttaniity all th¢ rf8k8 and rvward8 ofowrnrtyhip to the kneees. AJI ¢ts oper•tir¥J Sets hekl unller finwe• #8•$ 8r• 18ccgnfy as ass•ts ot the of the assets lf valu8 81 the date ol ine4pti¢)n and Ihe prgsenl v81ue ol the mminum #Se pay[3 The 181j luqblty 1$ IndUj in Ihe st8temenl of financ1 p¢$ilion as a linance b•8e rt)ligalion Lo858 payrnenls 818 tr8aW as fxnstsbrvJ of cawtal and interest elemen16. Th8 Intsrest Is charged lo profrf or10$5 60 as to w(Juc• a t£st3Tht ra c4 Interest on tha rminiry baL4n of tho liots'lity. R•nt8ls payable operating any kne incen8 rec•¥d. af• tharpj to proht or loJ$ an a straight line basis o¥er the teTh ol the rskvant 88e except where anthr more systematic basis rnixe reprts3entati of Ihe lime pot¢em in whth ec¢nomic efits the ka$es assel are C$uM8d. 1.9 Property plant and •qulpftv4ftt Prcperty, plant and •]uwrrnnt are iThlially nwurnd attrAt 8ThJ sth•Juenlty mwur&l at ¢ost or ¥aluatiofi, nèt of deprecialK)n aThJ any irrpainrnni10$8e8. Dgprecjatyrm Is recogftised so as to write off the c£¢t orvaluabon ol assets kns their restyjual vaknes their useful s on the follA"n9 bases". Plant and Machinery years Fixlure5 and Fittsr 5 yèa¥s The gain or lots arBing on the distx)sal an asset * dthrmined a¥ Ihe dtherence betsefi the Sa proc8ed8 and Ihe carryirg value ol •55ei aThl 15 cr&JibJ or thar9ed 10 siaieftntof Micome. As89ts rn Cbnsln These a capitaliwj a5 assets in cc¥BtructKJn until the assets ar8 broht inio use. on brought inio usé, they are depwated in accordan with the [1 tsfe Of asset da5S to transfred. Page 22 of 34
EDUCATION FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 JULY 2023 1.9 Prop•rty. p4nt and gquipm•nt (Cont0d> Costs in r•5FeCt ofop8ratiThJ 3868 are chw bas• ovw th• l&as• t•mi. lrnpaimnt A for potenbal indKatty5 of Impairnt is carrj al eath r8wtiThJ dat8. lff alts or changes circurnslance5 indic4te that carrying amouftt Oft or an1 and equIpt may [>t be recov8rBt4e, calculation of the impact i8 CoMptl and aroing Impwrmenl wal ehar9wJ 4ainst tho assat and 10 thè Con5c4h8#ted Slatt 0fComprehww Irv>Thi. 1.10 lntsngl u•ots •nd g00tr111 Goodwll ans85 on consolatiOn and Vd b888d on th8 dffleren¢¢ bew tsir value of th& consid8r8tlOn 9iv8n for the undertaknng acquted and the lair valu• ol its thlat48 rt a58ets at the date of Goothvill il rewJnBed in COnli0n wrth the acgUrtion ol Th LoTrJon Col of Beauty Therapy Limitod. Gotrawill it amorbsed 0r 10 rresentIng the rwnwnino •stsm•W h"f• to lh• 9OCAkn'II r•i¥t•i. In sUbwnt exc up to th• f•r Val Oft rKMornl•ry aM•ts acguir•d li f8cogni8•d in the Con501idale15 Staternent ol cL¥nWeh8nsi Inct in th8 P8rp)ds in whh U aseelb ore reGo[j 4nd any exc•s8 ding tho f4ir valu• of th• non.ryKJr#Jlary ass•t8 Is feccgn•J in lh8 stat1 ol CwrthnsNe Incorne In th ¢xpecto(1 lo ts bwfiiied. 43UUUWiiI lU illivIU11t ail ab&itssiiiil &ytiy lU1Vi& yi iiiiydiliiKrlij d¢ ¥¢•LII réporling Iii r85F1 asséts. 11 such 4Yl. U¥# Llw+ly will ai) rtllPallih¥nt 1.11 Non4uir•rtt Irm•trM ln the par•Thf8 Stat•m•nt of FinKi•l Pc•ilth, irntemts in 8ubsbJKqrw ilWtKglly M8Url al colt 8ThJ $ubwuonUy m88wed at c1 $8 any 8rtufflul8tod kJ5808. The rwestm8nb are a&8888ed for imp8irmenl at each reporting dat• and •ny inwirment h)sMs LY of inwaim•fit kxoos arn r8cognr81d ImrlIate In tho inctyne stat•m•nt. A $ub$bJiary b an entity ¢trOl by the 9roup. Control rè to the financiil ar¥J ryerats'ng polirig• of th• ontity so ai obixin befft$ fTryn Its athilw. I.IZ CMh and Ga•h •guival•n(• Cash includes cash in haTh# and (kpxrts payab on demand. Lknwits ar• rep4y4lyl• dbrnand rf ihey are in pra1¢& availab wthin 24 hr8 ¥tt P8nalty. Ca8h ar• 8hort.t•mi ImatUThty bl¥j tthe rnth8 frrffi rl•cwt thtel, hljhty lou Intrnents that are re8dity ttible to known amounts oftash w•ith ljnant risk of char#Je8 in valw. 1.13 Provl8lon•. ¢ont6nggnt Il•blWtl•• •nd ¢ontwig•nt Prov1$icl 8r• rocogned in the finandal 6taknn8nts th.. lal the Group arnj Chzrty has a pre58nt obligat'on Ikgal con8iru¢ts¥el a8 a resutt of a past event Ibl it is prcèable Ihat on outylw of e¢orKJmt benefits be reouirgd to seiue Ih8 obl3at)n, and Icl 8 relwble esknmste can be ofthe amunt ofthe r4ytiw. The Group and Chanty recognL8es a provi%w)n as a Iiatxlity Consolthted Staiemenl of FinaTru Position and rneasures Ihis al the e8lYnate dthe nnI rylu1 lo sen tt¢ thal)n af the Te[lg date. When th? efl¢¢t of the tirntt value cf rnoney k5 material. the arnounl recognised as a provtsion L8 detemiinl by discfxJnb"n9 t expeded future ¢ash at a pre-X rat• that r8lkts kS 5FffiC io tha lsabdty. Page 23 of 34
EDUCATION FOR INDiTRy GR¢XIP NOTES TO THE GROUP FINANCIAL STATEMEi¥rs FOR THE YEAR ENoeo 31 JULY 2025 1.14 T4Aalion Current lax, includiThJ UK CooratIon tax and forevan tsx. is 8t amounts exp8d•d to b8 pakl Iu faeo¥er8dl sing Ihe tax rates and lawE th8t have been enactsd or 8ubgtanti4ty 8nacted by th& raporbro date. The Group F¢rulK¥ty evuates posithm in tax reium5 ith re5PKt lo srtuation5 in thich applicable tax regu18tK)n subject to Interprets and (xJrthrs wtth rt 4$ kYrt>at tt 8 tax authorty will accept an uncertain tax tr8atrn8nl. The Group measures its tax babrw either b&•J on th• mosi Itkty amtyJnt or the eypact8d value. depending on rnethoj a bettar walict)n ol the resolulw of ts uncertaiiity. cer tsx Is provKJed In fvll ¢)n ts.ming drflerence$ that emt at the da18 and that result in an oblgatkon to pay more tsx. or a rvjht lo pay less tax in future. Tr d&fety•J is Nwursd at the rat8 eyctJ lo apply in cds in which the timir¥J differe1 are expefAed to re¥rse, based on Ihe lax rates aThY Iws that are enact•d or sub8ianiiv6ly 6n8Ct8d at th8 f8portiTrJ date. unreld tax b)¥ses glher deferred tsx 88Bet$ shall be re¢o9nL%eO only to the •fftnt Ihat It i% probat4e that Ihty wll be recoled wn8t the r8V8r881 of d8f8rr8d tax l18bil1t or other future t¥YAbL8 profrtj. Deferr1 tsx assets kat4.lths not dwthnljd. The Charity B 8n exempt chanty %•hin th• m•aniNJ of Port 3 of lh• Chaiiijèi Ad 2011. It is trefOre a chanty wrthin th• rneaning ol Para 1 of S¢U 6 to the Finonce Act 2010 af#J ac¢ordiNJly. Charrty is potenlialty •rnpt frorn UK CorFof8lion Tax in of incKJTh or caprtal gains vthin tale90r COved by sedion 47&488 of ihe corpofab.on Tax Act 2010 ICTA 20101 or 256 01 the TayAtioTh ofChar9gablg Gwn6 Nd 132, 10 gxtsnt th•t Such incom8 or gains are ar¢)ld lo exclusNety o¢arrtable puw•s Th• Charity rntiv•8 ft0 iim4ar exty?n in r¢BPg¢1 ol Vyo P4J•J Tax IVAT). VAT on expeTrJrtur• IvenUe #nd Gapta51 irbdudBII in Ihe coJls eyThlitwe. Any if1v8rab VAT allocabj to fix•J 888gts 1$ Includeil In their c081 Ch8rity'8 Èuhhjiary ttffjp8Th aro to Corpwlw T•x and VAT in Ihe wne way 88 •ny ¢omm8rc4al 1.IS FIMncl•l In•tvum•nt• T1 Group and Ch8nty has eknd•d to 1)p1 S•dpJns 11 12 01 FRS 102 in res of Ihe ¥eCC#3nits'c 8nd asurement ol finanri81 in8lwments Finwclal and Ikqbilit8 ar8 reeognrfad Ihè GrtyJp Charity b•come$ party to tho coptradual wowsion ol IM instrum•fit arnj th8y • da6fi•a actsjrding lo the 5ubslanc8 d the tractual 8rrarw¢nts entered into. A finandal A1 and A linaM81 Ikqbilty are ofls8t onfy when there i& a alty enforceab rvjht to W off the recognised amounts arn1 an ints0c orthw to S•ttkd on a b&ts. or to r8ali58 the asset and 8ettkn liabilty 8knuhareou8ty Financial assets 886ic financial assets Inc1Je trade 8nd Olher raabs. cash and cash wufv4nts. assèts arè Inltialty recognised at tiansa¢tion prKe unless arran9oment cThi$titutes a finanuThJ trartsxiion, wh•r8 Iha Iransactw)n li asured at the pre8ent value of future wipts dunte4j at a mathei rat• of ini&f•5t. Such assets are subsequently carrd at arncftK4•J cost usiThJ Ihe effeclNe Interest rate methThY. Finara1 assets are as$8$s•d f Indicators of impalmt ot each rowiirrfJ date. 11 Ihere ts ctitictibp e¥thr ol an imlnt lou is rgcwni$ed in the Statent ol c(mpffjWsive incxTh. AS an 8xe8Ption to thè pc4w #bm. the Gry¥ #nd Clwrty measure8 rts ¢r•Je t8b1e aTrJ contract assets at the transaction price and not at the present vue when. al ccffltract Irw1)n, payment 1$ expected vAthin 12 months or less fr¢yn when the Gro and Chanty tra11 th• gcd or Se lo rJJ8tom8r. For finarrtial assets carried al arnortssed c4JsI thè Inpa1 the ¢jfve beeen the c8rrying 8mount ofthe asset and the pr858nl valu8 of the estimaied luture cash dlwjna at the asset's orvjinal effe¢bve intewl rate. Finaroal as89ts arg der¢¢(3nffjed when ryhts to the cash frtyn th• a1 orAfe settd or subst8nlwll¥ 811 of the risks and rewards of Ihe tymersho of the asset are transferred to anoiher Dathf. Financial liabililiès Basic financial lde trade and other pJy8bkn and intra8roup l)8ns. These liabilitie5 are initiaHy recognoed at trartsaction p(ice urAess the Wrarent consbtutes a fillanoNJ traIaGn. wher8 th8 d8bl Instrument is me88ured al the present value of Future paYftnts dixwnted at a m*ket rate of interv5l. tknbt instruments are subsequent c8rri8(J al amorb58d cost Using the ellect interest rate me¢hrAI. Page 24 of 34
EDUCATION FOR INDLK8TRY GROUP NOTES TO THE GROUP FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 JULY 2026 1.1S Financlal instruments Icontinuedl Financial liablllti•8 l¢ontlnuedl Trade payaJes are oblwjaticffjs lo pay for goods and 8eryK88 that acquired in the ordinary course of busine from $up¥)lr5. Accwnts Payab are dasSd as current h115 rf Pay[rnt is du8 Wthin year or less. If no( they are Prn as non-current lth"litss. Trade payabbs are rewnised initrdlty ai transacuon priee and wbg¢qugnlty rn¢0gured ¥t usirvj b effects% rtet rate mellKd. Finartial liabilit are dwBcoJnned ihe 41ty is ca•. orewres. 1.16 R•Mrv•• Ufir8StrKt&J rwr¥es repres¢Tht r¢¥ourLw wlmch may b& uwj loards Mrg any G4 Ihe chantstAe ¢bJ'ècts ol the ¢>oup and Chonty at oftt tQgrd. R88lrictsd reserves comprise fvrnls reNed frK S(r FNIlPOS8S. Such as imjrgarns and othar allo¢4tw)ns from thg EduG8tion and Skill$ Funolir#J Agency IESFAI, MLQI be used ¥1 acctydanch wilh Ihts rdevant lunding dItn8. Thi8 includ88 amount8 provbJ8d lor 119 8ur80ry and Free Meakn in Furthor Educ¥1)n. whth are r•stn"et•d 10 $UPPOrting elWkry students, ¥nllarg and rdated ne•Y$. 1.17 Ao•ney Arrng•fflonts The Charity acl¥ a? an •J?nt ITr the coW•ction aTrJ payment of Leamer Swport Fundj, educ8tion81 mainten8nc• allowces aTrd Adurt LearniThJ Granl and res8nl bur88rw. R818t•J payments from the EFAJSFA sub3equBiiI di%bur5emen15 lo slud8ri¥ are exdud8d fr£ Sial8rn8nl ol Comp¥8nsiVe Incom8. axcepl for 5 pur <¥nt gr¥nl rec•t¥8(I 8¥alls to Chanly lo cowr adminslrBbon colts rdalg to the grani. The Charity orva rwthr of•tsff dwjtoied 10 ts JM•tX1 of Lo•m8r Support FuThJ applicatkS and payfflts T1 paratn of the Gro? Charty's finanoal statements fth)uw•8 mgnagemant to makè judg•m•nt8, ellimates. and assumpttJn8 Ihat apolcaiion of accomting Oici•s ar r•PtrJ amounts of aJs•ts ar Ir¥bililie8, income and expenses. These jirnents. estsm8les. assooaied assLtmpbons am based en hbtodcal ¥nd other fxtw. ¢1)ITha of future e¥ents that ore bel lo te rea$onabl• uTraer th• circurnlanrns. i••ultir¥J •cr•uniry wtim•to1 will, by dofiiNbon. •el&)m equ•l th¢ r•l•ted a¢bJal r•8ults Crltlcal accountbn9 O•tlmil•• Tangib fid as$oi$ aro dopro¢it•J OV•f th•ir usthjl I tthing inio atoyjnt miduul valueu, there appropriate The tual Ii¥s of Ihe 8ssets 8nd mKJual vaJv&s ar assessthj annualty and rnay vary dapanding on numb8r of factors. In rtrassessiThJ asset Ii¥es. factors suth as tethnokgKal irsnovabw and mointsnanc4 programmes are laken into account. Resklual Value a88e55menls con5hlw issue5 $uth 4$ future rnarket condilKJns. the remaining hf• of Ihe asmt ar•J dF¥xal vahM8. gnlfi¢antludg•m•nts In prepamo the8e fin8n¢ol8tatnts. Managt hm m•Je tre I.. . Oeterrnined whelher ase8 entered into by the Gro1 aTrJ Charsty •lher as a lessly or a Fessee a orwatirvj or financ&168. Thasè dock%)n$ on an ass858menl ofWh?tr Ih& risk8 and rewards ol eTShp h been transferred fTom the lessor to tl $see on a ase ty kne ba5¢5. All aseS hz¥e been IdentsfEd as oFer8tiThJ . Oetefrnill8d whether there are of impaThpnt ofts wup'$ fiy•J assels. Faclors token 10 C)$era.0n ¢n reachiNJ a decoK)n 1fid the econcffjK th'lity and eycted fijture financ481 performa ol the a$$et and ere it 1$ a cOmp¢nI ol a lafger cash4on¢rab"ng unit. tho IabIlIty and 8xpethd fubjre performan of that unrt. * Oetemined that the Charity shoukl recDJni8e 8 r*o¥isM for a roteTrth"al VAT liarty under the reverse charge me¢hani5rn fgf over5ea5 servKe5 Nlea5uremETrt of the IHbilty Invow asse55trvJ h'51orical wrchases. primarily rb&ng and media. aThJ apptyirKJ ¢Jn l&dilMMyJ ar¥J brnivwJ of any lty. A provisK has been reco9Trised basal on this asseSsML Page 25 of 34
EDUCATION FOR IPiIUSTRY GRCAIP NOTES TO THE GROUP FINANCIAL STATEMEifrs FOR THE YEAR ENDED 31 JULY 2025 3 Tuit fw •nd ¢du¢•tion ¢ontrxts 2026 rooo 2024 UK Furth8r Education SbJd8nls 4 Fundlng boty granucontract incorno 2025 É'ooo 2024 Education FundirJ Pqency Skills Funding AA¢Y Counol Fundlng her 14.703 1,201 11.435 293 5 Oth•r Incom• 2028 eooo 2024 Sundry other incom• 279 433 6 DonatlonJ and •ndovfflwnts 2025 202 p'rrfy Donaiw)rrt wpth Donalh?rA recognised during the y8ar Irom Grew Slreet Limited loloming £1.817k ere restricted for the relurbishment ol Eltra Hou80. Elocir8 Hou9• has be brwJM In u* (bjnng thg r ar¥i the rgBkncbon h88 bggn mgt and th• fundi now unfe$ln¢t•d. 7 Emth••• TM monthty numly•f of by Ihe gro duriThJ lh• yafir wa•.. Group 202$ Charfty 2025 £.0 Ch8rlty 2024 2024 £'oty) Teachlng staff Student support charity iUFWt 140 97 116 75 6S 74 79 Total 214 Their aggreg8te rernurnrab.on c•rnwMed.. Group 2025 Chartty 202S Grtrjp 2024 Ch8rty 2024 £'fy)o Wages and salarie5 Social se¢urity costs PerF5iM eosts 10,089 8.2S1 7.347 721 6.490 313 T¢ial 9.411 7.356 Page 26 of 34
EDLKATION FOR INDUSTRY GROUP
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
7 Ernployee8 Icontinuedl
Penslon coBts:
Th8 total amujnt paMJ inlo by t Chanty in tt yew lo 31 2025 was £152.78612024". £118,3201.
The number of Slaff vAth a Iiasic sabry ofo¥r £fy).CO) pw anNm has t•n Wd•d bdow.
2025
2024
No.
B•81¢ Illry p•r annurn
£60.W1 10 £65.IMXI
,CQ1 to £70.IJXJ
£70.W1 10 £75.C¥X)
£75,1 10 £80.TrX)
£.0)1 10 £95.tJJO
£95,1XJ110 £100.1
£105,001 to £110,(KI)
£115,001 10 £120,tK¥J
£120,001 to £125.¢X)
t125,00110 £130.(DJ
£190,001 ¢0 £195.CK#)
£220,001 to £225.(KrfJ
14
13
zozs
2024
Tolal r•rnuneration ot th• hwl ol th• ¢harlty
Wages and sdar
224
8ryJ P8rern In Iw . convw
l. The head Oft pr(Nb8 bawc t8ry * 5.9 tim•8 th• rthaian pay of8taff12024". 4.6 bm8$1. whorè thè m&Jian
pay kl calcuigtsd en a luItIm •oVNanI b•8ii tho p41 by th• provJ•r to its ithff.
li. The head of the provthr'8 lotsl rernunefali B 8.7 ts.mes the medtan total mnunerab.on ol stsff 12024. 5.9
tlm•sl, whtre the mediBn total reMUTll0n CBkJJLqtgJ on a full-lyne g]urw¥lent typ$ for the lolal remuneration
by the of rt8 8t•ff.
8•nlor po•t.d#' •mdum•nts
Senior p051hokSers are defin as Ihw peTrC hawThJ aTrJ pl•nnin9. dirKtin9 ond
controlliNJ the 8th"vits of the Charity. staff costs papj 10 58nh?r posthddgrn.
X126
2024
Salaries
SociBI security •ts
Otr
91$
115
81
179
1.091
The EFI Group keeps Its salary uThJer regu18r as a mininun. 3 yearn. h
bonchrnarking realigng ol pay also lak88 pLgce lor 8p•Jfic rok5 when there B a busi58 ca88 to do 80.
Benchmarking arKt rtralgnrwit of the SeL Leader5hp Team ISLT) pay look ce In 2021122 re5uhsrrfJ in
incre85e5 for s8 roks lo 8n8ur8 remaiTr rxynpeÈitNe. and to panty wn(ryst EFI Group leadgrship
team. With regard8 to other incre88es. thwe no aut(a annual in¢wse". Il 1$ de¢em)ined by performale.
Bonuses performafi salary ffKrpa5es arB an annual basis. These awe informed by lh8
EFI (>oup'8 perforni
EDUCATION FOR INDUSTrY GROUP NOTES TO THE GROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 202S 7 Employeos Icontinuodl DuriryJ this Iwn•, th8 Chair of Governor8 Prinopal & CEO also assess casos olexceptional parfomiancel impact which may warrant a bonus, pui by eitlw the Prinupal & CEO or the SLT BOnSe8 are owsfjnalty ccfflsid8red outsb of thi8 windN but only 86 W •XCpti. The abow procw ap5 to dl slaff lindudiThJ SLTI. othw than Ihe Pr¥y)al and Cknk to the C>)vemors. Any ernoluments for Ihese rdes arts d8odJ by the BoBrd. T•rmination co¥ts'. T8rminalion redundanGy Ct0 of £nU {2024". £83,70n w• T. 2025 2024 Int•r•¥t •nd oth•r fin•nc• Sncom• I co•1• Int•r981 incoj Bonk inlw¢st rKe1¥1 on dewit 22 Intgrgst and Otrfinr? 51$ Intemt eyp)n on lin•rK• li41"•4 260 9 AnatyDl# of totsl •xpgndltur• ty •ctlvlty 2025 2024 Tèachlm Sl1rt eMc•s 1.176 Admini81rntb)n and 8•rvr Rent 2.169 4.026 4.184 1.849 10 Audltorf• m•1110n 2025 rooo 2024 £'ooo Avjrt of thè fifiarKial staierrnnb OF th gro. p•rent SUdIS 87 11 Int•n9lbl• ••••ts Group £'ooo Charlty tooo Goottlll Colt 84nCe at 1 August 2024 and 31 Juty 25 Amortis•tion and i4t Balance at 1 Augusl 2024 Amorbsation tharge 8atance at 31 July 2025 187 Carrylng amount At 31 July 2025 At 31 Juty 2024 1.059 Page 28 of 34
EDUCATION FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 JULY 2025 12 Tangib a88ets Prop•rtyi pl•nt•nd •quiprn•nt Group Fittings and Course of Equlpnwnt COn¢tOn Tolal £'ooo Cost At 1 August 2024 Addition$ Transfer3 'sposal$ At 31 July 2026 8.815 2.113 2.220 11.4711 4,2 2.030 18.9921 17.846 4.799 109 1.471 820 427 1.701 Dgprnclatlon At 1 August 2024 Charg8 for the year $posalg At 31 July 2025 8.815 475 1.79) 12,649 1.245 1.701 138 Canylng •mount At 31 July 2025 i uuiy Char FkxturN A•••l• In th• Fltting8 •nd ¢our•• of Equlwrnnt cOtructIOn knpYov•m•nts E4ulpnnt TOIAI Co•t At 1 August 2024 Additr4 Transle 1.231 2.201 11.4711 4,*2 2,030 18.9921 16.145 4.417 109 1.471 At 31 July 2028 D•pr•cl•tlon At 1 August 2024 Charge for the year At 31 July 2025 1,750 1,2Q2 133 10.948 1.232 C•rylng •mc•unt At 31 July 2026 626 Al 31 Juty 2024 Furth8r Infomi8tM on 5ga88d 888els is provNled in 20. Page 29 of 34
EDUCATION FOR INDUSTrY GRIJUP NOTES TO THE GROUP NNANCIAL STATEMEMTS FOR THE YEAR ENDED 31 JULY 2025 13 Fixed as8•t investments 2025 Group 2025 Charity 2024 GP 2024 Charity £'ooo Investment in $yb$kliar 1.941 1.941 Invo8tm8nt in •uhldl•ry X125 Group 202S Charlty 2024 Grwp 2024 Charity At 1 August 2024 31 Juty 225 N•t book value At 31 July 2024 and 31 Juty 2025 13.1 3ub8ldl•rl•• DelaiLs of inv8stm•nts in whh th¢ ¢rnilbJabJ ¥TrJ Chwty lurle•• hold Th or mor• olth• nominal Val ol 8ny class of share capital are as folhy4n'. rNiimhrb Educabon fv1Th1u$try Awarfl Lnrt•d IC67939041 End point as&ossm•nt g¥n¢J8t i>din•ry Electra Hou••, 84 Moorgat?, London. ErslaTrJ. EC2M 8SE FRA Ent•rpnM• 20201120918681 Ordinary DmTrt Th8 London co109 ol Beauty Tknpy LThiied1030537991 Cydinary 14 D•btorn 2025 Grvup 2025 Charrty 2024 Group 2024 Charity £'ooo Amounts falliNJ duo after rnore Ihan one year. Other debtors- rent d?rt D•f•rrod lax asg•t 819 819 019 2025 2026 Char 2024 Group 2024 Chatity £'ooo Arrtounts f8lling due within 01 yw. Tr¢ debto mounts due frfmll group urthrtirys Other deblors Prepayments actr1 Irne 1.716 640 203 78 494 12 731 208 Amounts 01 to gro Unde.J$ are ufisgtsJr¥J. int8r85l.Iree. no fiy8J date of rePaynt and a repay¥) on demand. Page 30 of 34
EDUCAMON FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEPAEMTS FOR THE YEAR ENDED 31 JULY 2025 15 ¢reditoi8: amounts falling du? thin ong y 2025 Group X12S Ch•fity X)24 Charity Group Le Iugblty1888 noie 201 Trade creLlIto Social security other tsx8ts. payab Other creditors Aceruals and deferred incA)W Amounts ¢ywed lo grw undertakings 713 $51 191 5.92S 671 240 13 4.350 212 13 3,910 197 4.828 Doferrgd Sn¢om• Incled wlh a¢¢ruaL% and defeTrJ incTh fOlU of lficfjme ha% d81grrnd until •wcific pwFomiance related Condi$ teen I1. 2025 Charity 2024 Group 2024 Chanty ÈDOO Group Incem• from traCts cuomors 701 659 895 1&1 Provl•lon• lor Il•bllllkn• Gr•yp ¢h•nty rooo Group Chanty At 1 August 2024 Prowsions made durlr@ th• y•ar 511 At 31 Juty 2026 The group provtsson8 relate8 to an k8as• F)fO¥4 in Th• Loth of 88aity Tr*r•py Llmtt•d tor Ramill Hou5t, whith 1$ du¢ to e1 in Septter 2026. 16 R••trlet•d rM•r¥•8 Reserves with reJirictKrt ar• A8 I.. Group and Charlty El•ctra Htsu lund¥ 202S Total 24 Total fvnd• ro 5,339 B•l•n¢M at l AugU•t 2024 5,183 156 32 Electra House Relurfoi$hmenl funds r•t•Md in the Butsari81 reCl¥8d in the year Totsl r••tri¢t•d tomprehen8sv• Incune for th• ymr 1,817 1A17 5,183 124 1.817 5,307 Trarder of restr fvnds to luThJs 11761 17,1761 At 31 Juty 2025 [ring the year. addilionsl Sicted intte of£1.817k was for the ECtra House prqt and £84k Irom other restncted 9rants and dOnan$. FollLMing ccryikbon of Ihe Ekntra HcAJse wie¢t. £7.CKlJk w45 iraTr5f8rT8d lo unrestricted funds and £178k of other wtrthd WlCCffjE wa5 Utilisgj. The daBiTrJ bal at 31 Juty 2025 of£64k reFxe5ents FE Learner Support Funds. Page 31 of 34
EDUCATION FOR INDiISTRY GROUP NOTES TO THE GROUP FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 JULY 2025 16 Restrictsd rns•r¥•8 Icontinuvd) 2025 Total 2024 Total An1• of other r•8trict•d lund• IdonalwJnB by type of purybo. SchoLqr5hip5 and bur5ari8S Student funds j&ing refU18t General 231 1761 5.183 A transfer behfftn rnStr¢I r•s•rves and uThrgstii(18d ¥8S8Th8s 01 £7.(MX was rgwgni8ed In the year followng complebon ot the refurbi$hrnenl of Eknlra House. at whth wnt there re any re8tnctk)n$ on the Capital don81ion A lurther £176k transfw to unresthcW r•SerS has r8cognil in respect of gr8nt¥ from Ivnding b(Ji•s for which FwlomarKe rdaled conditic5 have baen $ati$fied. and we tsrefore no longer onsid¢rod to r•slricted. The ck)sing bala[0 at 31 Juty 202S of £64k represents FE Leamer Support Fund•. 17 C•4h Bb6orb•d by group op•ratlo 2025 tooo 2024 £'OLM) IC•1) I81U8 fort #r aftèr t&x 11,1MI 5,895 Adlu•lTrwnt• lor. Intei8$t on(1 olher finonce C11 Intef8St 8nd olhor fin8neo income Hmorri03ty. 8ng 1ryQ4.e.l CV a••a Oweciatson and Impairmeni of wwiy, plant am equyrN 777 289 Mov•m•nt• In rkIng upltsl: Ilnc18a881 in tradg and ottr receNJkns Incr•a8• In tr&Y• afid ¢thar pay&s Ire¥S6 in provhh 11,7371 2h62 1690 C••h 9on•r•t•d ty op•r•llor• 18 Anty of ¢hanw In n•t fund•1groupl ¢••h Flow• At 318t Juty 2025 2024 Ca8h and cuh u8$MIl 19 Capital and other cornmltmontr Pmisiws ha¥e not been m•de lortr* fcAbwirs wtal ¢cmmthn•nts •t 31 2025.. 2025 Group 2025 Charity 2024 Group £'oc 2024 Chanty £'ocK) Capiiat ¢ommthnts Copilal ¢ommrtments indude th8 contrlua1 commitm8nl rWirvJ arkl rnaintsnan ol Ekntfa Hous8 Page 32 of 34
EDUCATION FOR INDUSTRY GROUP NOTES TO THE GROUP FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 JULY 2025 20 L•¥808 Le88ed fix6d&wt8 The Chanty and GroLP kne Var5 Itern$ ofnt vnder contracts typicalty lastiThJ years. Lease terms are IN1UallY Mgotiated vary sb3nrfKanty. As at the date. knas• ayroomenis dts not includ8 any restricb covenants or condibS Impthj ffi the Gro. Ilded wrthin lotsl ffixed assets ar• 8ss•ts wrdwsed urthr firw¢• knaje.. Flxthre Fittin and Equlpm•nt ¢)Mup •nd Charity EquipThnl Totsl Balancg 011 2024 Additions 1.471 447 1.918 Balanc• al 31 225 447 A¢¢umul•t•d d•prrtl¥tbon 88lance al l August 2024 Oepreci&Don for ye•r 579 t$318nce 81 JI July 21J2> i¥ C•rryln9 •mount At 31 July 2025 At 31 Juty 2024 981 Financ the liobililM felatiNJ to k4•ood a81•ts d4)J in Note 15 8fj we 8theduled for repayment by August 2028. Lease Ilatshtffts Al lh& reporting gTrJ date the 9rp arKI Chonty lad ¢JAstarth'r¥J eommllmenls fu fvlur• mknwnum1948e p8yThTrts und•r r-Can¢•I18bIt optraliThJ 8$e8. whith ts# due •9 frJlkys". Y¢•r Endod 31 2025 Group ChBrfty Year End8d 31 July 2024 Grow) Charty rooo Wrthin one ytsar and fi¥ Mere than five yes JN83 13.59S 29.567 3.359 13A37 29.567 613 6.900 31,289 6.959 31.269 21 Limitation of I30mOrn. Liabtlity The Charity has purchayed an injuran lo cowr the gowmors. liabilty £2.5m. Page 33 of 34
EDUCATION FOR INOUSTRY GROUP NOTES TO THE GROLIP HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 22 Relatsd party tran•o¢tlons The Chwr ofG)¥ernrxs vki Lor¥Jman Corwttancy prty•KI8 seryx8S to o¥ersee th& r8lation8 tha sports organi$athXS othw fBshin rBtaikns. Consuhancy Ya a f8lBtsd p8ty as rt the Chair or £1,5&312024.. £2,923) ol Gwnc¢s &yp8nEo8 wr¢ p8wJ in yoar. UnNersity of the Arts LoThJon IUALI a the awaryjing body lot 5e¥eral of thE Lewl 3 and Lv1 4 Cr5e5 aTrS EFI Group pay 8Y2m registratrtin fees to IJAL. Tho Finant8 Go¥mor via Sally HBfTi6 CoachiTrJ, co8thir¥J wl0r¢ ond Your Sgat Business Partner F¥ooramme' to ELT m•mim. 202$ 2026 2W24 2024 Exp•ndrtuY• Bal•n¢• d to rvlat•d to rnlwtsd p•rty p•rty Eypenrsiture 8oLqnce dug to r81gt party £,0 paty Longman Con$ultsn UnNersity of the Arts LoTrJon Sally Harr* C¢)ach 32 11 231 14 Page 34 of 34