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 (ir￿UdIng Strategic Reprytl Statement ol c￿porate Gob*marf• and Int•mal C￿tr 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¢￿prI￿n1•Yv IrK 14 ConBo*datsd Statement ol F1w￿la1 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• Sen￿r posthc4dgrs are defined ol EFI Gr￿￿ Lwdérshp T•am r•v•$an￿ by thè lollowirvJ in 2024125". Lee Luc￿. Prinop•l •nd CEO.. Kelly Barry, Deputy Piinci Simon Mayfkgld, Director of R••ourcw lunts"131 Awst 20251 ApHiTrA 8AmhAAivAn InlArim FInAnr￿ nifArlr 8trwih>y IiiilW. rh¥bI￿ vf liMJu>liy R¥la￿Vr￿ll￿￿. EF5 Ti&wMrw 25 May 20251 Ma5hrin Cho**lhury, Director of operat￿n• on(1 P•rtnersh Amanda Cofvin, t#rettor ol Mathetlng and SaK Chris Arn8d80, firector of Slral&3y and FuTrJirg Chns M•a. Dirnct¢r of Tochnoknw Digit81 IM¢)VAI Traw Prrtchard. Oirectof ofAuJ•mic Exc*ll$n¢* luniil 31 21)251 Ch•rSty numb•f'. 1119510 coM￿nY numts•r: 05￿7547 R•gl*tor•d offlu: Lortdon. ENJlaThY. EC2M 6SE Audltorn: Crm U.K. LLP 55 L￿zte 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 FI￿r. 16 Kkng Stre WC2E eJF Sollcltor•: 8at•$ W•lls Brnithwail• 10 QLwn Street Aa LO￿n. 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 d8fin￿l 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 Col*e of BeaLrty T￿rapY ILCBTI and the redevekjpment and rKcup8tKJn of E*tra 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 COher￿t afrfl ¢￿$01ent kar￿r &¥pewc* across all EFI Insbtut￿rffj. EFI Gro￿ 5 missh?n is to SUPFQrt F4ople in builth'rva th?ir ski15. cweew5 and confthrth thro￿h spe¢rdli$t educat#)n 8nd training Thi$ w￿0$& guidéd tho (>oup's deusity)$ L1uriry Ihe yoar, ififiL*nuNJ h(x curriculum was develokw, how e$tat•s and la￿11¢￿ **re inpro¥e(l. finaw* plannry wa• monw ¥TrJ tsy* wganl88l￿ ¢onbw￿ to evofve. The Group 18 rnade up of three main areas of del￿ry. 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 str￿9 tschnical and prLknional eLlucab"w wjth ¢kar io induslry ne&Ss. Pybllc B•n•flt As an 8Xgmpt charity, lh8 Group must d8monstraiè trt •r*1 thè havè h&J du# regard io th& Charity Ccffimiss*Jn's gu*Jant8 In the discharge ol tNryir du￿8 EFI Grow wo¥i¢J88 cknar putAie ty widenry acf*83 kj S￿￿￿"St •Jucation in fashwjn. v•tsil. beauty aTra se¢lor8 where technic41 c8pabiltty a￿1 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 lexh￿r$ appfoaches. the Group en$ure$ *h*¥ p•rii*ih•t.• fi.Illy. Slrow ￿mpby•r partneryJhips. indu81ry•inlorm•J ¢AFrr￿u￿rn do•pJn 8Th18 IooJ8 on wactsal ￿"11& contribute to meanlwfvl progr•J$ion into ¢m￿0yrnent, OFwlic¢•h¥x •ThJ hb3lwr slwty, Iwtsr itr•ThJth8r4r¥J Group8 tharilabkry irnp¥l. P•rfomMn¢• •nd 8t￿nI expwhn¢• The Group ewiènc*d subs18n1￿1 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 susts1￿j 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 appl￿8￿.￿$ 9￿ ty more than 20 porcfjnt. FFA continued to achth hKJh wrfcmIan￿ CKAcom￿. maintsining strwj achl&vernent rates 8tt0ss all major pathways thline delI￿ry Saw imprO￿j retenti￿ or*Y 8¢h￿r￿8n1 ¢wpatgJ *ith fv wewou$ year. LC8T8 ￿rt￿rnanCe 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. p￿e30f34 EtWTION FOR INDUSTRY GROUP DIRECTORS, REPORT IINCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025 Fln•n¢b•l R•vfjow 1¢ontIn￿dI Llnr851rictsd re50rv￿ increased to £10.81rn12024.. £6.73ml. rBf*okng the pL9n[￿j Tvkn5e of TE51r¢ieLI c#piW fund5 now ful 8Fpl￿d to tha EK8th Hous• d•v•bJpmoni. R•stiici•d r•É•M6 r•du¢*d to £64k as donof lunds used ￿ li￿ t￿1r ntende(I purpose The &oup remalns free ofextem81 debt 8P8rt the extybrg •ssel.fmance fa¢rfty. vAth repaYm￿ts refie¢W within fina cos18 of £260k. The year dosed wlh ￿[ren1 assets of £10.19m aThJ ￿1111￿5 of£8.45m. giwThJ n8l current assets of £1.74m and a Strong liqu￿lty p05itsc￿. Overall. the Diredors wnsider the Group's finoncial poS￿"0n slaNe and ￿lIlent. Strono ￿8h reser4es. riwng ￿n￿$tr￿e￿ 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 1nfrutruc￿I• Two major 8StBte8 de¥*lopm8nts 5hap*J 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￿ ￿aTh￿r￿ •nvironm•nt with fbxibla spac•s d•swJn•d lo iupport u•aiN•. industy-￿￿ edu￿t￿•Th. The ￿0nd major proj¢d wo8 th¢ r&xab'on of LC8T to th• r￿fU￿rahod F9ShK￿ StrB•t campus. Th? nvw sits provldes industy.$tsnd?rd s￿1[￿, Ihgrapy rc#yrK8 and ¢th'nKd 8pw Ihat btttw fof*i èmpknyof •¥4Y￿18t￿)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 St*k•holdw Eng•g•Tr￿t Giuuy ¥ ¥iw¥ywiwiil ¥viUI ¥rily￿y¥I¥ L*its¥l io it8 8thJcalKvial IM¥Jel. M￿* Ihan 210 611wIoyw Y81ts￿l8 conlributsd to Curricul￿ll d•8KJn, prg•cts. ma8t•rd•M•8. F4•c•m•nls ar•S r•cnJthent p•thw•y• dunng the year. Strong rel8*on8hip8 were m8inlain•J wrth W￿lOrI. w•rding bodieg. 8th0￿, author￿9$ 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¢•rt*STr11•• 8oArd o¥ersees th￿9h A Str0tsg￿ R*k R•gi8tsr Ihat li r•vi•w*d rvjularly by th• Audrt COn￿kn. $upport•J by Intwnal audll and on90ing manag8m•nt assuran￿. Group operates in a ¢(mp￿￿ fun(lin9, regulalory market env+ronment. an*J sever81 pnn¢wl nsks contsnued to shape degsw)n-makiry thro1￿2h0Ut 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 S￿danI 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 ￿rr￿luM 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 SI￿rgthen1n9 academ leadership, improwng ¢urrrulum mana9emen¢. efihanuTrg qualty assurance and impkrnentsng tarfvd leamer $LPPOrt. Alignment wth FRA'S more established fra￿￿*￿rkS conts'nues io drive ryro¥ement. Cost inftation prttonts Bnott*f matsiial rffjk fl￿n9 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 manAg￿onI r•main assantial, alongsKle rnaxThising the use of the Gro￿ 8 rnapr es13le5. E￿cIWa Hou58 aTrJ Fashion Sireet. to ensure growth r8rn8ins 3￿taIn8bkn ènd eo$t-effetthTrrt. student rtcrutrnent is subsect to thcseasing compeb"ty"on and ecOnCm￿ p￿sSUre$. A Slowdo￿ in demand ty a shift in leamer behaviouf coukd affecl in(x¥n* and gro*th plarA. The Group io in¥esl in its braTrJ: ma￿?ting, ryloyer relationsh and student experience to refflain COM￿11¥e and altrackn* n a uowded educalion market. Finally. the Group is managing the rtsks assiKth￿l wrth de￿.￿n9 cxywkx r*aThJe kryrarnrr￿, indLklir¥J nv* curriculwn pathway$. dKJitsl $yslem$ and estates develrym2Trts. Each wqeci r2rries the r￿k of de*, o¥Mspend or under-delivery. To address Ihis. the Group has strenglhened project governance. intrC#JU￿d dearer bU51r￿SS case requirements and ensured that major de￿10￿rnO￿ts 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& ¢<￿tr￿s. a$8urernx mec*8niw• arKI wwner￿e ple￿, &)8rd i8 that the Group'8 [￿lP81 ri8ks are b8iThJ to an Bcceptth knl. Stratsglc Diroctlon DuriThJ the year. the Board s*3n8d oll lh8 EFI Grwp strateg￿ Plan f￿ 202>2030. $8ts out how th8 Group will d8￿lOp over t￿ next fve years. The Flan ktuses on th￿ thirys that wll matter most to Gr￿p.$ 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 WOfit*s that i￿ude stre￿t￿nIre empbyer input into curriculurn de8vJn. irnproviThJ the qualty fi8X￿1￿ of ts Gmups ￿arni[￿j environrn8nts. 8ApaTrJing it8 dyit81 capability. buiklirrfJ StrO￿r p￿tr￿lshI)S ar¥J maintsiniNJ thar aThJ go¥￿an¢•. Th8 plan ieinforces Group's corg purpgso.. to tr4nsfrym I￿$. care8rs and IThd￿try Ihrc4bah sperialist education and trainirY4. It gives th8 Group a iingkn dire¢tw of Iro¥4 ond o Shar￿ fr•nwth Ihol tc99t￿r t￿ 8cb'¥ty ol FIW LC8T and the whder di¥Asioni. Leeking &h￿d to 2025r26. th• Grw) t•diM th• ￿r￿1th 8 8t••* fffiar￿l 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 loll￿n9 statwnent i5 wovided to rBthr5 ofthe annud reF￿rt aThJ fmanri?l ¥latements oftt* EFI Group lo obtsin better understanding of rts ￿rnan¢t Str￿te. 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 trI￿lneSs.. . in 8¢cord8￿ce wlh the seven princp& i(Jenrf*J ty the Ccmittee on Standards in P￿bI￿ Lrfe IseMessn•ss, integrity. objectivity. 8ccxJuntability. o￿nnE$S. tt(xTrsty 8nd kadershipl.. aThJ . WhiL%l not having ath)pted the UK CorForat• Go¥emanc8 CoJ& 2018 th& EFI Grc4y ha8 r*3ard 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 t*cemL*r 2021 R•s¥n•a 30 January 2025 27 Jur￿ 2017 Rèapwiniod 2 Juty 21120 afid 30 J*uary X124 4 Fthni8ry ?n?? R￿￿￿pulli{*￿j 30 Jaiiuury 2025 2 C*¢xml)er 2018 R•appoinithJ 9 C*e•nt• 2021 ￿nuIry 2025 Zawr Gha(lially 10 September 2024 Salty Haffi8 11 January 2021 30 J•rw•ry 2024 Su￿nn4 Kemp 3 Maith 2021 ar¥J 30 J•rw 2024 Lee Lucas (P￿nciPl1) 6 Oct<*er 2014 2 Oe(wber 2018 Reoppoinbj 9 2W21 •rwJ X) J•nu•ry 2025 30 May 21r22 R￿ppoIntsY 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 Comp￿11 wa8 appc4Trkn1 to the board as Compar+y S•u•tary on 8 s•pl￿￿• 2025. r*lac¥ig Grah*n CtsJF•rt*￿ re>Jr*l on th? doy. It 18 the Board's re8pon8kn1ty to ￿1[wJ I[￿*￿denl￿#￿9￿t to twr of $tr•tegy. ￿rf￿rnanC*. 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 busi￿sS was COnd￿ted lfvwJh the Bowd. A￿Irt Cw)the an a**b"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 prOfe￿Onal lurtherw of their dulw at the EFI Group's exper￿ and ha¥B access to thB c￿rk to Ihe Bc4rd. who B responsib￿ lo the Board lor erouring ¢hat all ap￿1¢￿ts￿ pr(t&ure5 aNI regulatK)fts ar• compl￿1 *ith. 4)PO￿trn￿L 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 repc*ts ar6 suO*J to membors clthè Board in a mar*w, prior to Board m*tirw8. Br￿ing* 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 C￿S￿lerat￿ of the Board a5 a wthc4&. Th9 8oard li responSi￿e for ensuring that aFpropriai8 trainiThJ ￿ provbjed ts t*"redor8 8$ The Principal is an 8X-offi¢io th"re¢tor. AJI ott*r Dirnetots ao w4nted for a tenn of Off￿ not exc*Jir¥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 aFWnb1￿ts lo lh& Boafd. Th* c¢h*r¥ stmtsgy, tho rngulatory End edU￿b.￿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 vY￿t 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 Cc￿￿158￿ a rninimum of mwnbors aTrJ is chaired by a membor ofth• Bokrd. ￿rrent indud¢$ • ¢Npted m•mb•rwth professional audrt 8>per￿ce 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¥￿17￿5. Tf** C(Miilhiiti* Iii aL￿da1 w*lh writtèn If*Tri6 of rtstéf￿C• aF¥y¢)v6a W Ihé 8wd. It moèts a minTh4Th c4 Ihfae bmés a y*ar 8nO provKts$ • forum for r•pcrting by Ihg EFI Group'$ Inl¢rn•l A￿JitOrS 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 8￿Jit rnt£rfnmeTrJaim$ and uTrJgrt*e$ peric#Jic revS8w8 to ensure 5Lrh recommendat￿Tr& ho¥* been mp*mentsd. Th EFI Gro￿.% illtefaal auditors monitor Ihe systems of Internal eontrol. risk rn8nag8ment ￿ntrOl8 and gO¥eMa￿ prC￿se8 in ¥ccudance ￿1h an agr••d plan of input ond r*port 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 no￿aL#JIt Wofk. Th• Cornmittee wa3 ren￿￿d FkwKe arKI ￿￿Yrt Ctynffllt￿ w 21 C*lober2￿. Intornal tontrol Scope 01￿$0)nS Th8 8oard Is ￿￿[Mate￿ resw*rtsibK8 lor Ihe EA G￿p.9 syst•m of ifttemal ojntrol aTrJ for re¥1￿￿j its 8ffe¢tNene88. How8v8r. such a systern 15 designed to manage rather than eliminate the rtsk of lèilure lo bu￿n￿5 obiKtiv8s. and can provhl onty rgasonabk8 and not absolute 866urarKa ￿81￿￿1 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 cgr*trol that 3UPPOrt3 Ihe achie￿Ment of the EFI Gre*Jp's ￿)1￿1&#. aims c&JeC1￿8. 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 a9￿ments 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)y￿4 The system tsf internal control is desb3n*J to mary Tr&k lo a reawabk rat￿ than to dwninate dl risk ol failure to achreve p￿￿￿e$. 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 Id￿tfy aTrJ Prior￿Se 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 effIC￿nty, 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 er￿KATIoN FOR INDUSTRY GROUP STATEMENT OF CORPOIiATE GOvERN￿4CE AJ4D IPttERNAL COP¥tR FOR THE YEAR ENDED 31 JULY 2025 CapoGty to h4Tr*e risk The Board has revkw￿d lh8 k8y ¥i5ks to whKh Ihe EFI G￿P 15 Icw￿l w*ith the cperabng. finanryal and com￿15￿ce controls that have been impkmented to mtyate th(6e r6k$ The &)ard is ol that there is a fomial on*0￿9 proces$ for Identifying, evaluating and managing Ihe EFI Group's s*3ryfic2nt 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 8c*rd. Thg rilk and c(xtrol franvM)rtr The system ol Intemal contrd b95ed ￿ a fram￿[￿ of regular manayuft￿t inlomwtth. procedum including the segregab.on ofdube&. arrtl 0 $￿t￿n a￿￿Trt*"1￿. In Pa￿￿. rt I￿￿￿1￿.. c8mpreh9roive tAJdggts'ng $yslem$ with an annual budg8l whKh is rev1w￿l and agreed by th8 P*)ard., rtgular rev￿￿ by the Board ol wri(¥Jic Ar￿ annu81 fina￿441 rewts which indi￿￿ financwl pertom)arth agaln8t for8cMts.' ttlng tsrgets to measure financial and other perfofmanc•.' d¥arW defI￿9d ¢oPital inves1ft￿nI ￿ntrol 9uvJelir*$'. and the adoption offormal propd rnanagwt dilwh'r￿, Rovi•w o1offeGtiwr&8s AJ AccounliThJ Officer, the Princip81 has re5ponsibth for revivwing the tiffocb4ryr￿s Syslwn cl intamBI control. Hii rèvièw of th• •if•ctfvènè88 ts1t￿ syst•m ol ￿t￿nal conimt * inlom)•J by". the wc*1¢ 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 st4t*n•nl a￿j110￿ arkl Ih ￿tIM81 in manag•mnt and Olhèr reports. Over811, Il* repons h¥vg Ind￿8￿1 ￿ry ¢￿p￿rnon18ry 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 iMprovwn￿t ￿[• idenlifi•d and ha￿ been impknrnenled Qolng ¢one•m Aft•r making •ppr¢w*• •wu**s. 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 B*uf8 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 b8￿￿8n lh8 EFI Group and th8 ESFA As part of our conS￿a￿ation, ￿ 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 KJenbf*d ofter Ihe tjale ofth¢ statwYthL r￿[￿C￿P1kl￿ 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• to￿5 aTrJ coThlrth?ns cl the fundiThJ agr8w￿nts &Jreed be￿￿Tr the ESFA and the Board of the EFI Group. th• Board, Ihro￿Jh ils Prinupd. 15 fOUiTed to Prepa￿ finanaal 51atements f￿ exh fina￿al year In aruXdan￿ wrth the Statement of Recommended praCt￿￿-ACCOuntr￿J for Further and Educat%*n arhl whth gNa a truè ar*1 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￿ ￿￿￿nI1￿j polrEs arnl apply th￿ consBtenJy. * Make jUdg8￿nIS and 85b'mates that are r8880nable and pnthnL . Stale whether apP￿tsb￿ Ac¢wnknng Starthrd5 been loutr￿a. sutqect to ￿Y fflatenBI thparture8 disclosed jnd gy¥)lained in the finonoal $tatem¢n¢s". and . Prepar8 finanria¢ staterr￿n1& on th990in9 bg0i&. inyrrpriato to aS8wr* that lh8 EFI Group will eontinu in 0￿rat￿n. 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• 8uthorrt￿I that govèm them. The rnombars of the Board afg rtspon6ib18 for keoping proper acMuntsThJ recortJ8 dI8d0￿ wrth rewwwb￿ aC￿T8¢y. at any *m8. the financial pO￿t￿n f tho EFI Group, and e￿ats￿ them to ensure that the fin8￿jaI statements comtyy wilh the Compan￿5 Act 201A and other re￿vant 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 irrEgu￿ri￿￿. The gov8rrK*rs we r8spon51ble for the mainten8nc* arb# Integnty of Ihe ch8nty.' and thr*anu•l 1nlo1m*￿ on tr* chanty's **bsrt•. Merniw8 ofth¢ Board re8F¢)nJibl¢ lorer￿Uri￿a 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 RAf￿lIArd lyl￿￿ DIiw*r 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 expw￿ltsjre. $0 thai th• t•r*fts that 8hould b• d•rN•d from the 4¢pI￿AtiOn of publ* fuThas by Iht ESFA Arè not at risk. So far a5 each rnernber ol lh8 Board 15 awarg. 1$ no rgthnl lftfom1at￿Th ol which tho I￿1110r$ are unawar•. and •8eh mèmter of the Board h4J lakon dl th¢ $tw Ihgl h63he 0￿ht lo hawa 1•k￿ •8 o member of the Board In ord•r to mak• him6$lllhorièlf **are of any rel8¥ant a￿￿rt informat*)n aTrJ to 0oWlish that ts awJtor8 ar? w*ar¢ ol tha¢ Inform8￿on. 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 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 PrOv￿10n 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- ￿nItr￿1 I•￿ 18 S.339 10,809 6.725 Total R•Mrv The 8ceompanyirrfJ not•8 pagt8 19 to 34 fc¥rn p8rt 01 Ihese fiTra￿al 8t8ternents. The financial statemenls Trhere apwty**d by Ihe eoard an aulhc*wJ f(¥ 189 $vJn8d on its behalf th81 dale by n￿.1 !J.&&nd Klm Longman Chair afidc Educa￿on for Indu8ty Gmup. a pylvats ¢(myny 1SmSi•d guarnnts•, r•o18t•r•d In Enol*nd and Walo8. R•gl•t•r•d Nvrnl*r 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 Tang￿b￿ ass8ts I￿sIrna￿t 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 Tot*1 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 tr*ii 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 p*t oftheae finjnryal •tatwrnnts. T￿ financial 8taternenls ware ¥F9r￿e￿ 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 edU￿t￿￿ ¢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 ot￿r 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 Compr*P￿rn￿ irKom? lor lh8 Y8ar Vnr98trrl￿> compr*nsv.* 1*981 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￿• tylaiwn￿ts. 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 Re￿ase 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 I￿91*t 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 8ndoy￿ent 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 0￿rating 8cti¥iteB IDefKitll Surplus for the year befo￿ tsx 5,895 Depreciation Amortisation of intaThJl￿as 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 sa￿S of t8r#Jibl¢ assets Pbyff*nts m*le to 8cquir• tang*$￿ ass•ls P&yrnnts m•a• to acquire wrt8r¥J*>l8 as8818 Inter861 r￿￿￿ed 12 14.7991 14,0321 22 14,7161 15,1171 Ca•h flo￿ from flnanelng actl¥ltl•• IrKrease in f￿an¢1 leases Inlere81 pa*J 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. slAtw￿nI 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 H￿88. 84 Mwrgale. Lorwjon, EC2M 6S& group consi8t8 of Edu¢8tKJn fr)r InthAty #rKI all of t.1 Accounllng ¢onv•ntlon Th8 ￿n8¢Y1(1￿ted 8nd Chaffji financb8161a1￿rtt ha%• t4*) Nop4r•J in actord8n¢• ¥Alh Un*W ￿nodth￿ unling Sland8rds, in¢luding Financial RoportiTrJ Stsnd8fd 102 Tr F￿ar+traI R•pO￿"r￿j 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 EdU￿tIC￿l20lg •drtwl I'FE SORIT. paont is a charty aTrJ public t￿fft entty 8nd I￿*r*10r0 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. Mor*t8ry •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$. irtIL￿ir￿J Charty, are int8Th*d to gi￿ a true ¥nd 14ir vbw d th 886ts. li8bili1￿1. financ¥al position a￿1 prefrt or of the groLP. Tr Chanty h8s t￿￿10r* i•kon advantsge of exemptions from lh• fdbwing dHck4ure requirem•nl8 par￿1 8nDty infomiation prewtsd within tha con8dthbJ finarKi•l •t•t•m•nts.. . SeCt￿n 7'St8t8rr*nt otC88h Flw. Pr•WntaIv￿ of a slalemenl cl cash fl¢yAf and rel81od notas aThJ dy8c1￿Ures. . Sect￿n 3.3'Finanas1 Reporting Requirew￿￿': Pre￿n￿￿On of fin¥n¢ial statements and ac£tsnpAnying noteB In 8¢cordan￿ vthh th• FE SORP. 1.3 B•8h ol eon•olidatloTr Thè consc4*J8ted fin8nrio1 stat￿￿1￿ tlw finarval th• Charity and all 4t5 subs￿l8r￿ for Ih financk41 year io 31 Juty 2025. l intr•*roup transactions, baL3n￿ and unr•al*ed gains on transxtbjns group c(¥))pani•s are 81imin8b C4)nsolidaiion. Unrealised are also dminat•d unstsa Ihe transaction provths eMt*nce ol an impailrnent or tho a18et transferred. Subshdiark88 are ￿80&da￿l in th8 grtyJl8 finarxiEI 81atwr*nts Ircffi tha t18￿ that t*ntrol eunrn?n￿ until the dat• that control ce8￿. 1.4 Golng ¢onG•m Liquidity The Grujp conb'nues to maintain a stroag IyuQity pos*bM. 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 rr*et ts short.term Wilil*s ahnost ￿ time5 Over. FY2023124. the Group wured £1.92 millioTr try asset to supw1 the E￿tha House development. Repayments cornn￿rKed 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 ￿a￿￿ed d8fiul of £1.19 milhon12024. £5.90 millDn surplu51, in line wrth rts strategic investrnent programme. The (Èfvit wrnarity ￿5uts tyom the lease ￿UntIng t￿atrI)ent for E￿ctra House, which include$ 0 21-M(￿th renl-fvee r*nfx1 ￿nt for a futhr 3.5 years. und￿ FRS 102. ase costs must be re￿gni3¢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 syn*fi￿1 ￿crease in $iud8nt nLmk*r8 expanded detNery capacity. D•spite the reported def￿rt. the Group s financial F￿51t￿n rernairo Jirory, with unrestncted reser￿3 to £10.81 milllon12024." £6.73 millK)nl. r•ll#¢b"ng Iha rO￿a$0 01 £7.18 millth w) rèsknct8d capital luTYJs. strorrfj reserves base prowtles suffowt cyjty to absub pl•nr*J Mmstment sustsin operabon8. Funding and I￿orne Gvo¥rth Funding ￿ FY2024125 wa8 confinn8d al £9.16 millKJn from the Educat*)n 8nd Ski#J FuTrJing ￿encY IESFAI, indudiw t171k for St￿j•￿t aTrJ finanual 5UPWt The Group conb"nu85 to dI￿￿fy its income ba58, wth hi9h8r educAlien provl$lon r•y•sMtirvJ P￿rtd 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. ￿lI￿oI9<￿¥9MTr￿t bJr*lirg cl £824k waB to Support kay strategic Prh?rrt￿. Th• Group also from portnvrships wlh •mpWr¥ and ￿1￿lry w80rn. •nBunTrJ It5 provision rg1g¥ani an<1 dwnand-w acqui8ilW ol LCBT in Febryary 2￿24 has lunher 6Iren9thg￿ the Group'$ p)81t￿, addirg £3 73 million +n conf1rr￿j ESFA fsjnding an addilwwl plot1c￿ for gr0￿h 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 aW￿liture of £4.80 million. th• Group dosed Ihe year wrth £6 62 Mill*￿ re$W￿. mwiagwiwrt to 8lIKlQrt 0￿rat￿n$ ond pkqnned wnmilment¥ Group h88 8160 r*c*3n*￿ w OMr0￿ I￿0 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 t￿r5e 01 busines5. and 15 5hcthn nel of VAT and other sak rèlated ta￿5. Th8 fair vahje of c0nsh1ersth￿ tskes into account Ir•Je di￿0￿￿15. 5elllern8rrt d￿Count5 volume rebates. 11 is recogni4￿ in the CwsoliJ•ted Statement ol Compfehenst¥• when ts &oup aThJ t￿* Chanty sattlfies rti parfomanc• ob1￿8*.0n to ts ￿$tThr the has obtsir*d c4ntrol OF the gTr)dJ ￿ $ervKes bgirvJ transferred. When cash Infiows a￿ defe¥red and represent a fin8￿ing 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 ye￿Ved is recJJgni8ed 08 interest irK0￿. Re¥enue from the of gDrds 15 r•ccgnLqed when the svJnrfKant risks aTrJ rv•Ards cé 0￿ershP 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. TUit￿n fee inccrfne is rewn1s￿ 0￿r tts penod ibAwl8 stL**iThJ. as tha students simuttarnously recei¥e 8TrJ consurne all of the b8n8fits by th¢ an(1 th8 Ch8nty8 FwfO￿Onrx In¢L￿e Ir¢m education eontracts is rEcc*Jn158d as the Group and ts Charity gati8ts8 wrfryrn9n￿ obligatun$ in the contra¢t8, Trwh¢h ré periLxI in which stLthits lh• ¥J￿1￿)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 sati6f*s its ￿rfOrn￿nts dAwJatKrn. 1.6 Oth•r In¢om• Revenutrrelated gDvemrn•nt grnots ir￿UdIr¥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$ inte￿Ie￿ lo Whwe port of 8 govemft*nl 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 r￿l•j in lha10￿1 of10￿￿8n1 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 1wxxiial￿bO11 w¥J * Itwf¥loi¥ iiot $ul4¥d lo L41)Ii¥Li adju8M8nts. Bur8•rbJ •re ¥x0unl￿ for 9rc41 ￿ eyK1rturn •nd noid￿￿Cl•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)ets4￿n ¢reditws due wthin one ye8f and due after Ihw as apywiats. L%)n$t￿r￿ rec¢gniged 89 incw* when ¢>ow w*J ¢￿•rty is enbtkd to the luThJ8. The main type ofdonabons and ernjowmenls within r•$W￿ *". ReBtricted donalionB. the dornr haB that ￿ (b)rwtrJn rn￿1 b¢ for ¥ pathlar ¢ty"ect￿. Donat￿￿ p8rfom8nrTrrelaled ¢0Th1th8 (efxfjnwl as Infx*ne when the pthm8nctrre18ted w)diti￿$ are sat15f*d. For donations aTrJ eTrJowrnenis wlh donc￿-mF￿ed restTrSKsn8 (b￿ no Férf￿an￿-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 re8trictsc￿s at which pJnt th8 incor released to general reserves thffxJ9h a reser%* transfer. lThv•simont irtcrfn•. ind￿J1￿ 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)ntr*ubw'. Drfined contrlbulion Plln A dafined contribub.on plan is a Post-em￿OYMent b*)efft ￿an uNJer whKti the Group and Charity p8ys fixed Contr*Uti￿$ into a separate entty and wll hav8 ￿ *9al ¢y ¢￿$bU￿J%￿ ob￿"gabOn to pay ftjrther amwnts. Obligation8 for eontnbutions to defimd contnbubon ￿anS are recogn18&1 as an expew in the CO[￿￿*￿at￿l Statem￿1 of Comprehensive Inccffle in the durw4 servtes *0 f8TrJered by employ￿. P•ople¥ Pension Staff are aul¢>ènr￿￿d into thg Per*,8 Pern8ifm schwm C￿ iDN4r¥J EFI Group. subJe¢l to el¥J*41ity1rn88*'ng th aulwrolmenl roquiren*n15 Staff auifrenrc418d rfymain in thi8 sch*M uth58 ty opt ouL The wnployerf8 conlribution Is 3% and the empknyee's conlribution * 5%. Prud•ntl•l Stskohold•r p•n￿on {•dn￿nI•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 ￿n￿￿er matches conth￿jt￿n5 01 up lo 5%. Thare is no limit to •mpbyee ￿tr*)utiOn. meaniw staff can exceed Ihe 5% bul Ihe *n￿Oyer cty)Irknutson capF¢d 8t 5% The mo¥t c￿mon eontributDn rates ar? 5% emtyoyer aThJ 5% omploye8. E￿￿oyeeS ore *lthsed that Ihty must opt out of peop￿,8 Pension before i￿nIr￿J Ihe PNdenlkg1 scheme •$ Ih8y cann￿ te in 2 8th8m88 at On￿ The gssets of t schame are held 8eparatdy fri￿ tlth• ￿￿panY In an iTrjO￿nd￿ 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 ar*J 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¢c￿r￿ 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•ut*tani*ity 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 ￿181￿j luqblty 1$ IndU￿j in Ihe st8temenl of financ￿1 p¢$ilion as a linance b•8e rt)ligalion Lo858 payrnenls 818 tr8aW as fx*nstsbrvJ 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 incen￿8 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 foll￿A"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 bets*efi the Sa￿ proc8ed8 and Ihe carryirg value ol •55ei aThl 15 cr&JibJ or thar9ed 10 ￿ siaieft*ntof Micome. As89ts rn Cbnsln These a￿ capitaliwj a5 assets in cc¥BtructKJn until the assets ar8 bro￿ht inio use. on￿ brought inio usé, they are depwated in accordan￿ with the [￿1 tsfe Of￿ asset da5S to transf￿red. 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 (Cont￿￿0d> Costs in r•5FeCt ofop8ratiThJ ￿3868 are chw bas• ovw th• l&as• t•mi. lrnpaim*nt A for potenbal indKatty5 of Impair￿nt is carr￿j al eath r8wtiThJ dat8. lff a￿lts or changes circurnslance5 indic4te that carrying amouftt Oft￿ or ￿an1 and equIp￿￿t may [￿>t be recov8rBt4e, calculation of the impact i8 CoMp￿t￿l and aroing Impwrmenl wal￿ ehar9wJ 4ainst tho assat and 10 thè Con5c4h8#ted Slat￿t 0fComprehww￿ Irv>Thi. 1.10 lntsngl￿* u•ots •nd g00tr*111 Goodwll ans85 on consol￿atiOn and Vd b888d on th8 dffleren¢¢ bew tsir value of th& consid8r8tlOn 9iv8n for the undertaknng acquted and the lair valu• ol its th￿￿lat48 r*t a58ets at the date of Goothvill il rewJnBed in COn￿li0n wrth the acgU*rtion ol Th LoTrJon Col* of Beauty Therapy Limitod. Gotrawill it amorbsed 0￿r 10 r￿resentIng the rwnwnino •stsm•W h"f• to lh• 9OCAkn'II r•i¥t•i. In sUbw￿nt 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 wh￿h 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 stat￿￿1 ol CwrthnsNe Incorne In th ¢xpecto(1 lo ts bw*fiiied. 43UUUWiiI **lU illi￿vIU11t ail ab&itssii**iil &ytiy *lU￿1Vi& yi iiiiydiliiKrlij d¢ ¥¢•LII réporling Iii r85F￿1 asséts. 11 such 4*Y*l. U¥# Llw+ly will ai) rtllPallih¥nt 1.11 Non4uir•rtt Irm•trM ln the par•Thf8 Stat•m•nt of Fin*Ki•l Pc•ilth, irntemts in 8ubsbJKqrw ilWtKglly M￿8Ur￿l al colt 8ThJ $ubwuonUy m*88wed at c￿1 ￿$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 Imr￿lIate￿ In tho inctyne stat•m•nt. A $ub$bJiary b an entity ¢￿trO￿l by the 9roup. Control rè to the financiil ar¥J ryerats'ng polirig• of th• ontity so ai ￿ obixin be￿fft$ 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 pra￿1¢& availab￿ wthin 24 h￿r8 ¥￿t￿￿t P8nalty. Ca8h ar• 8hort.t•mi ImatUThty b￿l¥j tthe rn￿th8 frrffi rl•cw￿t thtel, hljhty lou In￿trnents that are re8dity t￿￿tible to known amounts oftash w•ith ￿ljn￿ant risk of char#Je8 in valw. 1.13 Provl8lon•. ¢ont6nggnt Il•blWtl•• •nd ¢ontwig•nt Prov1$ic￿l 8r• rocogn*ed 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 obl*3at*)n, and Icl 8 relwble esknmste can be ofthe amunt ofthe r*4ytiw. The Group and Chanty recognL8es a provi%w)n as a Iiatxlity Consolthted Staiemenl of FinaTru￿ Position and rneasures Ihis al the e8lYnate dthe ￿n￿nI rylu1￿ lo sen* tt¢ th￿al￿)n af the Te[￿l￿g date. When th? efl¢¢t of the tirntt value cf rnoney k5 material. the arnounl recognised as a provtsion L8 detemiin*l by discfxJnb"n9 t expeded future ¢ash at a pre-￿X rat• that r8lkts ￿kS 5F￿ffiC io tha lsabdty. Page 23 of 34 EDUCATION FOR INDi￿TRy GR¢XIP NOTES TO THE GROUP FINANCIAL STATEMEi¥rs FOR THE YEAR ENoeo 31 JULY 2025 1.14 T4Aalion Current lax, includiThJ UK Co￿oratIon 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 8ubgtanti4*ty 8nacted by th& raporbro date. The Group F¢rulK¥ty ev*uates posithm in tax reium5 *ith re5PKt lo srtuation5 in *thich applicable tax regu18tK)n subject to Interprets￿ and (xJr*thrs wtth rt 4$ kYrt>at* t￿t 8 tax authorty will accept an uncertain tax tr8atrn8nl. The Group measures its tax babrw either b&•J on th• mosi Itk*ty amtyJnt or the eypact8d value. depending on rnethoj a bettar walict*)n ol the resolulw of ts uncertaiiity. c￿er￿ 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 eyct*J 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. unrel￿*d tax b)¥ses glher deferred tsx 88Bet$ shall be re¢o9nL%eO only to the •fftnt Ihat It i% probat4e that Ihty wll be reco￿led wn8t the r8V8r881 of d8f8rr8d tax l18bil1t￿ or other future t¥YAbL8 profrtj. Deferr￿1 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 t￿refOre 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￿ COve￿d by sedion 47&488 of ihe corpofab.on Tax Act 2010 ICTA 20101 or 256 01 the TayAtioTh ofChar9gablg Gwn6 Nd 1*32, 10 ￿ gxtsnt th•t Such incom8 or gains are ar¢)l￿d lo exclusNety o*¢arrtable puw*•s Th• Charity rnt*iv•8 ft0 iim4ar exty*?n in r¢BPg¢1 ol V￿yo P4*J•J Tax IVAT). VAT on expeTrJrtur• I￿venUe #nd Gapta51 ￿ irbdudBII in Ihe coJls eyThlitwe. Any if1￿￿v8rab￿ 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 Ikqbilit*8 ar8 reeognrfad Ihè GrtyJp Charity b•come$ party to tho coptradual wowsion ol IM instrum•fit arnj th8y *• da6*fi•a actsjrding lo the 5ubslanc8 d the tractual 8rrarw¢nts entered into. A finandal A￿1 and A linaM81 Ikqbilty are ofls8t onfy when there i& a *alty enforceab￿ rvjht to W off the recognised amounts arn1 an ints0￿c￿ orthw to S•ttkd on a b&ts. or to r8ali58 the asset and 8ettkn liabilty 8knuhareou8ty Financial assets 886ic financial assets Inc1￿Je trade 8nd Olher r￿a￿ab￿s. cash and cash wufv4￿nts. 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 d￿￿unte4j at a mathei rat• of ini&f•5t. Such assets are subsequently carr￿d at arncftK4•J cost usiThJ Ihe effeclNe Interest rate methThY. Fina￿ra1 assets are as$8$s•d f Indicators of impalm￿t ot each rowiirrfJ date. 11 Ihere ts ctitictibp e¥thr￿ ol an im￿l￿nt lou is rgcwni$ed in the State￿nt ol c(mpffjWsive incxTh. AS an 8xe8Ption to thè pc4w #bm. the Gry¥ #nd Clwrty measure8 rts ¢r•Je t￿￿8b1e aTrJ contract assets at the transaction price and not at the present v￿ue when. al ccffltract Irw1￿)n, payment 1$ expected vAthin 12 months or less fr¢yn when the Gro￿ and Chanty tra￿11￿ th• gc￿d or Se￿￿ lo rJJ8tom8r. For finarrtial assets carried al arnortssed c4JsI thè Inpa￿1 the ¢jfve￿ be￿een the c8rrying 8mount ofthe asset and the pr858nl valu8 of the estimaied luture cash dlwjn￿a at the asset's orvjinal effe¢bve intewl rate. Finaroal as89ts arg der¢¢(*3nffjed when ryhts to the cash frtyn th• a￿1 orAfe sett￿d or subst8nlwll¥ 811 of the risks and rewards of Ihe ty*mersho of the asset are transferred to anoiher Dathf. Financial liabililiès Basic financial l￿de trade and other pJy8bkn and intra8roup l)8ns. These liabilitie5 are initiaHy recognoed at trartsaction p(ice urAess the Wra￿￿rent consbtutes a fillanoNJ traI￿aG￿n. wher8 th8 d8bl Instrument is me88ured al the present value of Future paYft￿nts 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 paya*Jes are oblwjaticffjs lo pay for goods and 8eryK88 that acquired in the ordinary course of busine￿ from $up¥)l*r5. Accwnts Payab￿ are dasS￿d as current h**11￿5 rf Pay[r￿nt is du8 Wthin year or less. If no( they are Pr￿n￿ as non-current lth"litss. Trade payabbs are rewnised initrdlty ai transacuon priee and wbg¢qugnlty rn¢0gured ¥t usirvj b* effects%* *rte￿t 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 lo*ards M￿rg any G4 Ihe chantstAe ¢bJ'ècts ol the ¢>oup and Chonty at oftt* tQgrd. R88lrictsd reserves comprise fvrnls re￿Ned 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 dIt￿n8. Thi8 includ88 amount8 provbJ8d lor 1￿19 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 Arr*ng•fflonts The Charity acl¥ a? an •J?nt ITr the coW•ction aTrJ payment of Leamer Swport Fundj, educ8tion81 mainten8nc• allow*ces aTrd Adurt LearniThJ Granl and res￿8n￿l bur88rw. R818t•J payments from the EFAJSFA sub3equBiiI di%bur5emen15 lo slud8r*i¥ are exdud8d fr£￿ Sial8rn8nl ol Comp¥8￿nsiVe Incom8. axcepl for 5 pur <¥nt gr¥nl rec•t¥8(I 8¥all*s￿ to Chanly lo cowr adminslrBbon colts rdal￿g to the grani. The Charity orva rwthr of•tsff dwjtoied 10 ts *JM￿￿￿•t￿X1 of Lo•m8r Support FuThJ applicatk*S and payffl￿ts T1￿ ￿parat￿n 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•Ptr￿J amounts of aJs•ts ar Ir¥bililie8, income and expenses. These ji*rnents. 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￿ fi*d as$oi$ aro dopro¢i*t•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 d*F¥xal vahM8. gnlfi¢antludg•m•nts In prepamo the8e fin8n¢ol8tat￿￿nts. Manag￿￿t 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?t￿r 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 I￿abIlIty and 8xpethd fubjre performan￿ of that unrt. * Oetemined that the Charity shoukl recDJni8e 8 r*o¥isM for a roteTrth"al VAT lia￿rty 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 asseSsM￿L 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 Fundir*J Pqency Skills Funding A￿A¢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 El￿tra 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 W￿￿d•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(Nb￿8 bawc t8￿ry * 5.9 tim•8 th• rthaian pay of8taff12024". 4.6 bm8$1. whorè thè m&Jian pay kl calcuigtsd en a luI￿tIm •oVNa￿nI b•8ii tho p4*1 by th• prov*J•r to its ithff. li. The head of the provthr'8 lotsl rernunefali￿ B 8.7 ts.mes the medtan total mnunerab.on ol stsff 12024. 5.9 tlm•sl, whtre the mediBn total reMUT￿ll0n ￿ CBkJJLqtgJ on a full-lyne g]urw¥lent typ$￿ 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"vit*s of the Charity. staff costs papj 10 58nh?r posthddgrn. X126 2024 Salaries SociBI security ￿•ts Ot￿r 91$ 115 81 179 1.091 The EFI Group keeps Its salary uThJer regu18r as a mininun. 3 yearn. h bonchrnarking realign￿g ol pay also lak88 pLgce lor 8p•Jfic rok5 when there B a busi￿58 ca88 to do 80. Benchmarking arKt rtralgnrwit of the Se*L* Leader5hp Team ISLT) pay look ￿￿ce In 2021122 re5uhsrrfJ in incre85e5 for s￿8 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 performal￿e. Bonuses performafi￿ salary ffKrpa5es arB an annual basis. These awe informed by lh8 EFI (>oup'8 perforni￿￿ ￿"ve$ aryj inpact, culfflinzting in an annual FerfCrfrnafi￿ review In Septemter. Eath employee wll Tecei¥e a sujre from 1-5 in tl*ir annual revEw11 b￿Tra inthquate ar*a 5 the best m￿l￿able> based on their perfomiance. Thi5 8core then d￿tateS Ihe pay % in(xease tw WAI receNe. w ro sector reC(mMeT￿a1Ion$. EFI Gr￿p fuNJs aic. Al increase$ are signed oll by Ihe Chair of Govemors arNJ Prinupal & CEO arKI usually take effect in Sopternb8r. Page 27 of 34 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 BOn￿Se8 are owsfjnalty ccfflsid8red outsb* of thi8 windN but only 86 W •XC*pti￿. The abow procw ap￿￿5 to dl slaff lindudiThJ SLTI. othw than Ihe Pr¥y)al and Cknk to the C>)vemors. Any ernoluments for Ihese rdes arts d8od*J by the BoBrd. T•rmination co¥ts'. T8rminalion redundanGy C￿t0 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 Ot￿rfin￿r￿? ￿51$ Intemt eyp)n￿ on lin•rK• li￿41￿"•4 260 9 AnatyDl# of totsl •xpgndltur• ty •ctlvlty 2025 2024 Tèachlm Sl1￿￿rt *eMc•s 1.176 Admini81rntb)n and 8•rvr Rent 2.169 4.026 4.184 1.849 10 Audltorf• ￿m￿•1110￿n 2025 rooo 2024 £'ooo Avjrt of thè fifiarKial staierrnnb OF th gro￿. p•rent SU￿dI￿*S 87 11 Int•n9lbl• ••••ts Group £'ooo Charlty tooo Goott*lll Colt 84￿nCe at 1 August 2024 and 31 Juty 2￿5 Amortis•tion and i￿￿4￿*￿t 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￿￿¢t￿On 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 cO￿tructIOn knpYov•m•nts E4ulpn*nt TOIAI Co•t At 1 August 2024 Addit￿r4 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 G￿P 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 2￿25 N•t book value At 31 July 2024 and 31 Juty 2025 13.1 3ub8ldl•rl•• DelaiLs of inv8stm•nts in wh￿h th¢ ¢rnilbJabJ ¥TrJ Chwty lurle•• hold Th or mor• olth• nominal Val￿ ol 8ny class of share capital are as folhy4n'. rNiimhrb Educabon fv1Th1u$try Awarfl L*nrt•d IC67939041 End point as&ossm•nt g¥n¢J8t i>din•ry Electra Hou••, 84 Moorgat?, London. ErslaTrJ. EC2M 8SE FRA Ent•rpnM• 20201120918681 Ordinary DmTrt Th8 London co1￿09 ol Beauty Tknpy LThiied1030537991 Cydinary 14 D•btorn 2025 Grvup 2025 Charrty 2024 Group 2024 Charity £'ooo Amounts falliNJ duo after rnore Ihan one year. Other debtors- rent d?￿rt D•f•rrod lax asg•t 819 819 019 2025 2026 Char 2024 Group 2024 Chatity £'ooo Arrtounts f8lling due within 01￿ yw. Tr￿¢ debto mounts due frfmll group urthrt*irys Other deblors Prepayments actr￿1 I￿rne 1.716 640 203 78 494 12 731 208 Amounts 0￿￿1 to gro￿ Unde￿￿.￿J$ are ufisgtsJr¥J. int8r85l.Iree. no fiy8J date of rePayn￿t 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 $51 191 5.92S 671 240 13 4.350 212 13 3,910 197 4.828 Doferrgd Sn¢om• Incl￿ed wlh a¢¢ruaL% and defeTrJ incTh fOlU￿ of lficfjme ha%* d81grrnd until •wcific pwFomiance related Condi￿￿$ teen I￿1. 2025 Charity 2024 Group 2024 Chanty ÈDOO Group Incem• from ￿￿traCts cu*omors 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 e￿1￿ in Sept￿ter 2026. 16 R••trlet•d rM•r¥•8 Reserves with reJirictKrt ar• A8 I￿￿.. Group and Charlty El•ctra Htsu lund¥ 202S Total 2￿4 Total fvnd• ro 5,339 B•l•n¢M at l AugU•t 2024 5,183 156 32 Electra House Relurfoi$hmenl funds r•t•Md in the Butsari81 reC￿l¥8d in the year Totsl r••tri¢t•d tomprehen8sv• Incune for th• ymr 1,817 1A17 5,183 124 1.817 5,307 Trarder of restr￿ fvnds to luThJs 11761 17,1761 At 31 Juty 2025 [￿ring the year. addilionsl ￿S￿icted intt￿e of£1.817k was for the E￿Ctra House prq￿t and £84k Irom other restncted 9rants and dOna￿n$. 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 An*￿1• of other r•8trict•d lund• IdonalwJnB by type of purybo￿. SchoLqr5hip5 and bur5ari8S Student funds j&￿ing refU￿18￿t 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•Ser￿S has r8cogni*l in respect of gr8nt¥ from Ivnding b(*Ji•s for which FwlomarKe rdaled conditic￿5 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￿) I8￿￿1U8 fort￿ ￿#r aftèr t&x 11,1MI 5,895 Adlu•lTrwnt• lor. Intei8$t on(1 olher finonce C￿11 Intef8St 8nd olhor fin8neo income Hmorri03ty￿. 8ng 1ryQ4￿.e￿.l CV a••a Oweciatson and Impairmeni of wwiy, plant am equyr*N 777 289 Mov•m•nt• In *￿rkIng upltsl: Ilnc18a881 in tradg and ott*r receN*Jkns Incr•a8• In tr&Y• afid ¢thar pay&s I￿re¥S6 in provhh 11,7371 2h62 1690 C••h 9on•r•t•d ty op•r•llor• 18 An*ty*￿ of ¢hanw In n•t fund•1groupl ¢••h Flow• At 318t Juty 2025 2024 Ca8h and cuh ￿u￿8$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 contr￿lua1 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 Var￿￿5 Itern$ of￿￿￿n￿t vnder contracts typicalty lastiThJ years. Lease terms are I￿N1￿UallY Mgotiated vary sb3nrfKanty. As at the date. knas• ayroomenis dts not includ8 any restricb covenants or condib￿S Impthj ffi the Gro￿. I￿l￿ded 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 2￿25 447 A¢¢umul•t•d d•prrtl¥tbon 88lance al l August 2024 Oepreci&Don for ￿ ye•r 579 t$318nce 81 JI July 21J2> i¥ C•rryln9 •mount At 31 July 2025 At 31 Juty 2024 981 Financ* the liobililM felatiNJ to k4•ood a81•ts d￿4)￿J in Note 15 8￿fj we 8theduled for repayment by August 2028. Lease Ilatshtffts Al lh& reporting gTrJ date the 9r￿p arKI Chonty lad ¢JAstarth'r¥J eommllmenls fu fvlur• mknwnum1948e p8yThTrts und•r r￿￿-Can¢•I18bIt optraliThJ ￿8$e8. whith ts# due •9 frJlky*s". Y¢•r Endod 31 2025 Group ChBrfty Year End8d 31 July 2024 Grow) Charty rooo Wrthin one ytsar and fi¥* Mere than five ye*s JN83 13.59S 29.567 3.359 13A37 29.567 613 6.900 31,289 6.959 31.269 21 Limitation of I30￿mOrn. 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$athXS othw fBshin rBtaikns. Consuhancy Ya a f8lBtsd p8ty as rt the Chair or £1,5&312024.. £2,923) ol Gwnc¢s &yp8nEo8 wr¢ p8wJ in yoar. UnNersity of the Arts LoThJon IUALI a￿ the awaryjing body lot 5e¥eral of thE Lewl 3 and Lv￿1 4 C￿r5e5 aTrS EFI Group pay 8Y2m registratrtin fees to IJAL. Tho Finant8 Go¥*mor via Sally HBfTi6 CoachiTrJ, co8thir¥J w￿l0r¢ ond Your Sgat Business Partner F¥ooramme' to ELT m•mim. 202$ 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