REGISTERED COMPAt4Y NUMBER: IM471324 IEnglarKI and Wokn) REGISTERED CHARITY NUMIEL. 1125851 REPORT OFIHE TRUSTEES AND AVDITED FINANCIAL STATEMENIS FOR THE YEAR ENDED 31 DECEMBER 2 FOR TrIE MARKFIELD INSTIIVTt OF HIGHER EDUCATION (A COMPANY LIMIIED BY GUARANTEE)
THE MARKFIELD INSTITUTE OF HIGHER EDUCATION CQNIENT5 OF THE FINANCIAL STATEMENTS Foi The YearEnded 31 December 2025 Pag? Rel•r•nc• ond Admlrtholtve Delal R•port oflhe Trul1$ 2 to 6 Slalgmenl of Tius*•es' RèspoMWIIII•i R•port olth• Ind•pendenlAvdlois 8 10 10 stolemonl ol Fjnunelol Aemes 12 Cwtrt Fbw Slolem•nl 13 Notes to Ihe Ch Fkw StaFement 14 Notes lo the FlrKfrn¢k41514)lements 15 to 24 Delalkd 5tal•m•nt ol F¢rActIVlll?N 25 10 26
THE MARKFIELD INSTITUTE OF HIGHER EDUCATION REFERENCE AND ADMINISTRATIVE DEfAILS F¢r The Yeor Ended 31 December 2025 TRVSTEES MrFS Murod Drs MAhmad Dr M Ahson Ireslgned 1.11251 Drm Ruby Mrm T Abdulbh DrMMAIty JW M H M Hazin loppointed l.11.251 Professor M kzeldin loppointecl l.11.251 REGISTERED OFFICE Ralby Lane markrId Leice51er Leiceslershire LE67 9SY REGISIERED COAIPANY NUMBER 06471324 {EngId ond Wolesl REGISTERED CHARITY NUMBER 1125851 AUDITORS TC Group 31 High Vlew Close Hamilton Office Park Leicester Leicestershi LE4 9LJ BANKERS Barclays Bank UK PIC LeiceslerTown Holl Squore Leicester LE87 28B Poge I
THE IIIARKFlaD INSTITUTE OF HIGHER EDUCAnoN REPORTOF THE TRUSTEES For Th• Year Ended 31 December 2 Thè tru51985 are cdso d(reCtO of the Charity the wrposes ol the Act 2006, present Ihelr report wlh the thcsncid 5tatemen15 01 the chcffity lor the year endèd 31 ener X)25. The trvslees have cxyopted th• provtslon5 of AccouTrtiw ond ReporNng by Chorft5.' 51otem8nt of Recommended Proctice opplicable lo chadtbs preparing their occoun15 In accordonce wth Ihe Reportlw SlandJd oppllcable h the UK and Rewblc ol Ireknd (FR5 102118lfeCtfj l Jcmvory 20191. OilEcnvES AND ACMVITIES ObJecllves and ulms Thè Markfi8td Inslltvle ol Hlgher EdLJcollon IMIHEI wos e51obJtshed In 20Ct) to odvonce educollon for Ihe PLJl b8n8fl1 throLuh.' delivery of vdKtiledlaccredled Ngher education progr(Jnmes', research 5chdChip in 15bmlc dIsclpe5. and pro[lorK]I development and comrFyJnty Qngagement. me h5tltule's rfA5slon Is to cullivate goduales scholors eqllpeCI th Ult. Fjlhtd. ond anotyllcd capocits lo Contule mecMlrKJfuly 10 Society. As o hkJher eductytlon pro>viLler. the Inslltvte is regulded by the Office lor Sludents10151 since it5 iegistralion rch 2019. tt 15 dso occredlted by thè 8ri115h Accredltatbn CoLWll IBACI. Futhonnottr, It Ik> o UKVI StLKknI Rovlo (th a proven tsack recorel ond Sknled Wcyker Sps01 Status. ullovAng tr to recruit Studsnts and slall trom abroocl. 514nm¢arf oeltvlllès The lrntllule offers urthfgrathjote arKI PostadV01e programmes IBA and MA wogtCTnmes1, vafldoted by Bbmingh(yY) Newmon UnIveIty. In Iarn Studps, lslamtc Educatlon. Bonkng and finance. Islom cnd Susloinoble Devebpment. army P05tryol Core1CFalnCy. Ihtr Inslltvle 0150 secvred a partnershi) wllh Sl Marys Urfversity to delivey Ro5eorch Oegree progrcmnes In 2025. The kn5fitute'5 c¢y8 acllrflbs Include leocNng ond Ifyolnlng, research cThJ schda¥sl4p. ond community eNJogement. The 8dLalloI progrcxnmes OTM to eqL>P slvdents 11 Ihe kThyMe<lge and acad&M 5ki115 to become 5cid151S th1 fEld5. pursue profesor1 coreers, a1 become respons[b WIK) can mce 51gnifant socknl and ec¢Jnomlc conlrfbutSons. Page 2
THE WIRKHELD INSTITUTE OF HIGHER
EDUCATIO
EPORT OFTHE IRUSIEE5
Fci Thè Yèor Endtd 31 Dec8mber2tr25
OBJECINES AND ACTIVITIES
Publle b•n•fft
T trustees conflmi thol thèy ve coMp&d wlth Ih&r duty under Ihe choi115 Act 2011 to have iegcyd lor
Ihe Ch¢• ConNntsslon'5 guklarKe on pvbllc b8nefil. MIHE contbUteS to publ benefil by- defNerirg acce55ib
hlgherethcollon In tslanlc slvde5 and rdote(I dfjciplines., produclrvJ grodwte5 conltbu19 to 50cid coh8on
(md lo pr¢fessiond sectors,. supporftrwJ sludents Ihrough Schol0hlpS and hardshlp knng., and promoling
Informed engo3ement vAth contèmwjrory S[, 81hicol. orKI economlc S$.
IrllUte £1ty seek5 to Wen partSclpallon ond reduce lJJrfers lo tlgher educolion. We oro commilled to
being a welcomlng tigher edueotk)n in5Mtutlon Ihol ptscVe seek5 Out who berefit from hlgher
educollon, mlnlmlses bThrie to participatn. and contsibute5 to Ihe eNpan51i ol hwher edLtotK)n opportunlties
both nolionoty ond Inlematbndty. The Ir6111ute offers a Ited ryjmber of schol(w5hTps ond hord5Np fund5 to
support sfudenlswith ovlstandlng academk records a1 o strong seme ol puwe, 05 woll 05 t58 who m17y not
be obb to (rce55 hlghet ¢)n such ad.
11 contrbut85 to Ihè development of professlonalg (md scholars w41h a brouder. deeper, and mre crfllcal
undersl(XKllng o1151¢Jn In thg confer0[0 woild. StKh 5ch¢Jar5 ore bett eqlripped lo prorle oworeness ond
social CO$10n among thewse communities, on¢5e Ihe Iheologlcd. socioL econonic. orKI ed01k)no1
ch¢Jgtues loclng Ggnlempcory socIel$, tsKI provTde innovotNe SotkInS lo addres5 these tssues.
To CtT¥0 compelenl grodwles. th8 Inslllvle Inlegot95 the dgpfh ond hwJh 5t¢mdrJtds of tradtvnd (d
contemporory Iskmfc scholarship vlth InnovoNve rese¢ych melhods, ocademk rigour. ond Crit01 a$1$. We
oim k) 8nsvrè thgt ovr graduoles excel In their dtsciplv)e5 while fosleriw critlcd IhlnlSrvJ. COrp1V(4 reosimhg.
anowical sk115, ond advanced written ond w001 communlcollon i]bMe5. clw wlth o comnthent to elNcd
rjnd profè5sIDnal pdnclr)las ond stondords.
STRA7EGIC REPORT
Achlev•menh and p8rfoTrwwJnc•
En9aqgmentwllh
Ihe In5111ule vdug5 Ms sloff and b convnllted to prDfe55K)fKJI dgvelopwr)t Irg. ylUSr¥e rm¢J
colaboiatfve w(Mk(ro culture, and regulcK consulloltsn on 51rat8glc and Opera0Tl motters. Stafl cothbute
Ihtough corTrrillees (nd gtsvemonce slruclvres. ensvfft ero(yJemenl In Indiluffond developnent.
Slafl gro(¥Jemenl, contrbutk)n. ond developrrnt are essentlol to execultng OLY Strategy. We ore commHled to
proleslond valL4e5 ond 51rive lo 105ter incluyve cvllure in bthich all 51aff carl Ctribu¢ to Ihtt Institute's growlh
and r6cefve support In their roles. Every team memb81 porllclpoles In regulor cortsult0OrI% on strat8gy (nd
operalional rMtle. Ttrwough vatfv)us comrrittees ond communlcotlon ch0nls, 51all provlde hpul 10 shape the
Institula's pilorft*s (Jnd (fr8e11on. ROvant slall d&velopmenl aNJ I&11g ore encwragod lo ensure Ngh
pertormonce, exce118nl teoching. (nd quafify in ac0deM 0rations. while uphdding educotionol tmd
odminlslrafve 5tandard5. Severd lTrhotJse lialnlng S95510 Ihroughotrt th8 y8ar offer d8V9k>pnf
THE MAIKFIEID INSTITUTE OF HIGHEI EOUCAnoN Repoxf OFTHE If¢vsTEES ForTh• Yeor Ended 31 December X125 STrATEGIC REPORT A¢hlevemènli and pertoThonee Durlng Ihe 2024-2025 acodemk yeai. 70 51uden15 groated from th6 In5111ut6 across vc¥(ous courses. The Instllule also delivered several short execufiv8 progrommes and research 58mlThJrs. De$te seclor-wde choleng¢s 51udent recrlment, Ihe Institute mointdnecl ocad&mk defvety ac105s mull1p progcxnm6s. s1rengthered In5titvth)nal partnehlp5. expoThYed resgorch provts Ihrough rew doctorcl cdktsxatK)n5. and conlThJed lo support sludents Ihrough wellore ond acod8mic 58rvic8S. Flnanclol revlew Flnonctal posmlon The Imtltule record9d on Sn-yecw surplus In unrestrfctgd fvjnds 01 £918,198 12024 £1(XJ2571 ond a svrpkns In resldcted fld5 of £NI12024: £89,6(i)l. Thb reflgcls on oddilbn lo Its endowment fund dUrit 2025 Ithe accwlsillon of o new pioperty wilh an approxh)016 voluè 01 £845kl ond inKYoved finaTKlol man>Jemenl, rduding stre1h8ned credl conlrol processes ond VeIlall0 ol Income 5trecJrrG. Not tstandj Ihts, char5ty continues to lacg slnJctural flnonclol pressures due to declIng st)ent numbers in certon prcyJiorrmes. fteS•FVeS poky The churtty had unreslrfcted SerVeS of £1.039,801 and reslricled resee$ of £253,805 05 al 31 December25. The chcwity dop5 nol holj any fre8 tts reserve poficy alms lo occumale Iree rè5eNe5 equvolenl to fftree months of operoling expendture over the next four yeu5. Th£& Iruslees Iwo wrposes lor the accnlOon ol operothng r85grves'. l. To flnonc& the development of new or e511r¥4 selve$. 2. To ele the organ15ation to be wovncl up If rocè55ary. To achTeve Ihts. the Iwu51og3 are.. strervJlh&nhg Ilntsnctd oveNght cd cost controts. (fiv8r5itytrvJ ncorre streams, reVIng piogitHnme v111t and d&livery mtxlels, and ImptewEnting 51ralegic reCtnI Inlllolfves. ReseNes will be morHtored regul(¥ agoin51 targ8ts, QfKJ cDtreclfve acllon 11 be loken where rCeSSary. GOINJ contem The trv5Ie have gNFen c(yehJl conlderatlon to the chaty.$ Nnald possli?n ond lulure ouljoot. They are sotlsfied Ihat the organisctlon remoins o going concem lor lh9 lacn5'. -Theie Is o gr(xJud buildlng of its endowment lund - Conthnued dolivery ol core ctademlc progrorr¥YFe5 in olfliall0nttt UK urfversllles - Acthvè cost marK]gement ond restructurfng measuies - Dvepment of new pc¥lnetslMp5 (d inco 5tr8oms - Ongdng reg¢Jotthy ¢(P$UnCe wlth Ihe Office lorStvcl8nts Ihe Iritslee5 huve pr8pared fln(ncial lorecosls covèrlny ot least 12 rTh)nth5 from the dote ol approvd of the ffnandol slatements. These t0cOSts ind¢ate that tt)È Inslilute wlj be d)te lo meet tks fiabifiti85 as they Idl the. Howèver. the ttL151ees (Kknowledgg t1 Ihs position is 5ub]ect lo matertal t&rtdnty. pOr1Ul0[ regordng 51udent recrLrflmenl. Accordingw, Ihe tiuslees wll continue to morilor linanctal perfonnance ¢105¢+y ond te opW01& oction (ks reqLrfred. Pa98 4
THEWIRKFIELD INSTiniTE OF HIGHER EDVCAIION REPORT OFTHE TRUSIEES rlhe Year Ended Jl ¢ember225 STRiICTUIE, GOVERNANCE AND P4lANAGEMENT Govemkng docvmgnt charity is goverred by It5 aovenlng document, o d89d of Itu, 01 operotes 0% o compory ltrruted ty gvaronlee unde¥ Ihe cpOreS Act 2CQ6. It was estot>Eshed urKler a Memoiondvm ol As50clatlon rd ' odmlrwster8d in aCCord¢ce the d)j&cfves ond poweu Set ovt in hs goveinlng ¢JocLments, the Artlcl85 01 As50clalkn ond By-law5. Gweinfthcè Slwetwe The boar¢J ol Trvsto0s ts respOnb for stral6glc directKJn. financid ovèr4Jht. accKlemic qualty and regulatory compliance. More SpecidIY. the Boord is re5pornsb for OPKxo*ing the stroleuy. bvdget ond fn(xckJl plons. acodefféc pkJn5. qLolty o$surCe. Prevenl Dltly compllunce. and onnvd ieports. It also oversees dl 05pect5 01 the Ins111utes educotlonol opeTOtlons. Board appolnls the Acadern 8ooid, Ihe Flnance ond HR Commltteg. and the Manag8rn8nt 8oc¥d to manage Ihe Churivs attr$. It rewews the Chlty$ pertom)ance ond addiesses enwgiw i55Ue5 ofKI The ReGtoi is (Kcovnlgtle lo the Booid ond r95porkyblg for ImkA&morrflng its deCIOn9. Trvslee Re¢rvllmenlond Twlnkng The Iwstees are also dwector5 lor th8 PiffP0585 01 compc¥y th. The Board ol ITustse5 b r85porfjle lor reCting new tru51ees. Tntslees tre recrulled lor Ihelr sk4 and expeilence in educulton, govemance. Icw, ond cotrmunlty 1eadershlp, as wel a5 lor a proven Irack iecord h buthess rThJrbagempnl or public Seces. Al twslees ¥&c8lve
)duclion or*S (eas5 to Chority Commb%or¥ gonce.
The Board opproves th& oppoi)tm9nt ol the A¢
THE MAIKFlaD IM511VVTE OF WGNER EDUCATION REPORT OF IHE TRUSTEES ForThe Year Ended 31 Derembew 2025 SIRVCIURE, GOVERNANCE AND MA14AGEIAENY Rtsk muntsgement The tIU5t8es have o djty lo entify and t8vl8w Ihe rfsts to whlch the chcuity exposed and lo ensure lfv]I appr¢)priole conlrob are In pjoce to providg re050rthle agahsl f[aL and error. The tru51ees molnlawi o ii5k regi8lerand leoulty leeWkeY indudro.. - Legal Fina101 SustainalIty - studenl recrullment Regulolory compliance IOIS, UKVI, 8ACI - Repu10tn - IntrostrwlLJre and dola securfty - Estate and h8dlh ond solety rf$. Wligation 5trotregk95 hclude IlnoncKI mo10ng arKI controls, compl¥Jnce hLYneworks, strateC planrfvJ, tho Slu¢nl 01eCIl0n Plun (approved by the Office lor Studènts IOISII. hvhrch hiJNvJh15 1 foclw the kn51ilvle lated to students und the corr8swndkng mitigotion measures. Ihe Insttlule's prfncipal 05set i% omounts retsVC]b Irom s1thI8nts. Ihe amounls yesenlèd In the bakince sheet a net ol oxowance lor doub1hJl recelvoblos. An o11owonce lor h)pa5iment 15 made wh8r8 event, Ied on pievk)u5 8yp8rfence, b evldence ofr a reduction in the recovefabfAty of cash flow5. The In5ti1L)te hts5 no slgraiicanl corcentrotion ol credll ffjsk, wllh exposure sprec¥J over a knrge numbeToI corglulty 5d8cled 51LKlents. STAIEMEMtAS 10 DISCLOSURE OF INFORMATION TO AUDITORS So for 05 the Iru5tee5 ore %)ware, there 15 no Yelevtht infoimotK)n los defined by Seclknn 418 of the Companl8s Act 20061 of whlch the choritoble corrpanvs OLJdters are urth¥ore. ond eoch trustee has oll th8 Steps Ihol they ouy)I to have token os o Injslee in order to moke Ihgm rMc¥e ol ony (Jjdil inlofmation ond Io gStab115h It1 Ihe K¥ttobb componvs a0[$ (we aware of tth]t irf0]Il0n. AVDtTOR5 The oudtors. TC Group, be proFY)sed Ic*re-tsPP(Mntm8nl ol the foitrro9 Anrlual Generd 811g. Report ol the tru51ees, incoTporollng a strategic (, approved ty uder ol the boord ol irustee5, as the company dir8ctOF5, on...l.&....Mfvn. z•4... qnd sned on booi¢S5 be1[ by.. Mi F S Mu¢- Trustee rjrz Paryez- Ac vntobie Oincer Pagg 6
THE MARKIIELD INSTITiIIE OF HIGHER EDUCATION STAIEMENT OF TRUSTFES, RESPONSIBILIIIES The Yeor Ended 31 Dètembel 2025 The tW5tees Iwh) ore olso dreclor5 of Ihe Vorklield Instifthe ol HIgr EducotDn forthe purposes of ccthpany l are responsble lor pieportro Ihe Repcrtt ol Ihe Trustees and th? financlal slolements h occordonce wllh 0ppl1cab I( ond Unit8d Kkngdom Accomllng Standards IUnT18d Kirydom Gèn&tally Acceptéd Accounlhg Proct8) Includng fSncnclal Reportln9 Ston¢Jard 102'The Financlul Reportlng SIdard ¢JppliCat9 In the UK ond Rewblc of Company bw tèqL&es Ihe tiustee5 to prepora flncmclol slolements lor eoch nn(rtld ye(Ji. Unthr thot kw, the Irle&S hov6 elected lo prepcye Ihe slalemenls In accordance th Unlted Khgt1om G&nefal Accepted Accounling Proctke Iunlted Kkngdom Accovnllng StonckJrd5 ond applic01e k•wl. ihKler compony Ite&S must nol approve Ihe fina101 51algrnent5 urles5 they are salisff8d Ihot they gNe o ond folr vlew ot Ih8 51ate of oflolrs of Ihe chorflable ccthpony ond ol the trrmilng re50wces (md opratIOn ol r&sovice5, Includng the irLome ond e>pendlture, ol Ihe charflotle compony for Ihot period. In Frfeparkng tre ffftanch stolement5. the trvstees ore recyired lo ètt sullobte <xeotJnting policS ond fhen (ppty Ihem Conlent, observe Ihe method5 and nCl[leS Chorfll95 SORP; mok& ILKlgements ond eslimot8s Ihot ore re050n0b and pwdentr slala whetlwf lobje (cjnttng slonduds hove be&n lon0d, subkcl to ony moterfd departures dlsck)ged orKY ewoined kn linortid stotemer)ts.' prepare Itw lknanclal 51alemenls on the gohg Cor8 It ts InopFxoprknle Io Ihol the chor11d@ c0mpanywllconnVe in business. The Iru5tees ore responte for keePIr proper COUntI[Y records which dtsclose wth reason() ot any tlmè tt)e finoncknl pos111on of thè Chafft(]b comFKJny and to encknlè them to 8n5Lff8 thal Ihè finoncK]I $lolement5 c<xnpty the Componbs Act 2(K)6. TrV are aLs0 re5p(xwbb lor 5afeguardru Ihe 055els ol Iho chaiitabb compory ¢Jnd hee lor t0rg re050rnle slep5 for ts prevenllon (nd delecthon ol Iraud and othor Itreguknties. Pagg 7
REPORT Of THE INDEPENDENT AUDITORS TO THE IAEMBERS OF IHE MARKFIELD INSTITUTE OF HIGHER EDUCAnoN OplnlDn We have c•Jd51ed me 5totem&nls of The Morkfdd hsltLrte of trllgher EdalTr Its 'chohlctJ c¢ynpony'l for thè y8Ql 8nd8d 31 D8cember 2025 whlch cr)miyls$ Ihe Stoloment ol Nnonciol Aclivit4es, the 801ce Sheet, the Cash Flow Slolemenl ancj notes to the fina101 stolem8nls. InctIng a summary o15KJr¥fieonl accounting pollcles. Ihe Ilnanclol reportiThJ fromework Ihot hus been applled In 1hoii preporotlon is pbI9 low and ilnited Kingijorn Accounling Sland(Kd5 Iunlled Klngdom Gererolly Accepted Accounllng Piaclkel, includryJ Flnanclol Reportlng Stondard 102'1he AnanCk Reportlng Stondord apFAlcoble in Ihe UK ond Repu of Ireland,. In our oplnk)n the ffnancld slolements.. - give a true and latr ol the slate of lh8 Clabb cowvs olla¥s os 0131 Dgcerrt)er 2tr24 and ol Its Incomhg reswrcos and (Jppllcalion of r850urces. Intholng ils itK(xne orKY expendltvre, for the year Ihen enclett. hav& been properly prepared In accordance with United knngdorn Generaly Accepted Accountlng Practts, Inclucfjng FEnanclol Report9 standard 102 The Fhanckl ReplIng Standjrd opE4inble In Ihe UK (Md RepvtAk of r1end.. (Ybd - knve been prepared In accdance wlth the requrem¢nts of the cornw&5 Act 2W6 - COMpty1h the requirements of the Ofke lorstudents AccoLnts DlrectvJn. IoBts fow oplnlon We condLLled ou¥ di1 in accordonce whh Intetnotiond St(md(yd5 on AudS1irg IUKI IL8As IUKII ond appIabl¥ Icw. Ow le¥)0lItIeS under Ih05e standards are Ajrtl (16scrib8d In Ihe AL10[$, responsbi1St16s for the tHJdlt of the ffnonciol 5totemenl$ section of our ieporl. We ore independenl ol Ihe choi110b COfTpony n acc<Kdance th Ihe elhlcal requwemenls Ihtsl are rebvant to ow oudil OF Me financkjl stoteN*nls In lh8 UL Indudru Ihe FRC'S Ethtol Stondord. and we hove fvlfilled tm olher elNcol re5POnSitlil5 in occordance wllh these reqviremenls. We befjeve Ihot the audit evklence we have obtaln8d Is sufficl8nl ond approprf¢)le lo provkle o bosts for our wlrknn, etsncluilon5 relollng to 9olng ¢on¢•m cxjdltlng the flnoncld slolements. we hove concluded that the tIU51eeg use ol the gong concem b05is of accoun19 in the preparolion of lh8 financlal statemenlsls q)proprlale. B05ed on the work we have pert¢ymed, we hcwe nol Identlfted tJ)y materfd uncertalntl95 rebrg lo event5 or cond111ons thot. IndNldualty or collgclfv8ly, may ea51 5wJnificant doubl on the chorftr0b comp¢J)y's obilly to ContVe ¢35 a goiro Cor8 lor o perfod ol ot lea51 Iwelve months trom when the flnc¥)ckd 5talemènts cye outhorfsed lorls5U8. Our re5pon5itAlties ona Ihtr SPonSlI11e5 01 the twslegs vAth SpeCt lo golw concem ofy d8scrfld In Ihe ielevonl secmors ol IN5 ieFXYI. other ln10mtION The truslees ore respOnble lor Ihe other inf0Ml)n. The other infc4Tnal comprises the inlomallon includ8d In th& Annual Rèp(xl, o#h8r thm the InarKlal stolemenls ond Report of Ihe lTrJeperthnl Audlots Ihereorb. Our Op1r0n on lironclol slalements does not COV8r th8 Oth8r htormollon and, except lo the 6Xtont other¥8 eXclI stal6é In ovi report. we do not expfe55 ony fomn of asswt5nce conclusbn thereon, k) conn8ctlon wSlh our oudil ol the financid stot6ynent5, w responsiblify 15 to ie¢Jd Ihe other ¢nforync7tkJn and. In dolng 50, con51der whether the other informafron k5 moledaty Inconststenl thtr fimncial stolem8nls or our knowledg8 obtained in Iht aLKlil or olkErw15e appeots to b& molerialty misstot$d. 11 we Idenllfy such maletlol InCOn$t8nCIeS 01 app(ent malethJ mbslalements, we are requwed to deleM$r whether Jhls glves rlse lo o molerbl mlsstatement in ihe fInCId slolements themse£5. 11, ba58d on lh8 work we trove pertoftned, wo conchJde Ihol Ihere Ls o mate1 misstolemenl of thls other informalk)n, we are requlrecl lo report ifKJl toct. We have nothlng Its report this regard. Page 8
REPORT OFTHE INDEPENDÈNY AiIDItORS 10 THE MEM8ER$ OF THE MARKFIELD INSTITUTE OF HIGHER EDUCATION Oplnknns on othermaltei¥ piexrfbed by Ihe Companles A¢t2006 In ouroFlnK)n, bo50d on Ih&wortK undeilaken in the COLffse ol the audbt.. the hfornation given in the Rgport ol th8 TriJ51ees for the fhoncld year lorwNch Ihe ffnoncTal 0teMentS c prepored consislenl wth the financkJ 51alemen15: ond the R&portof the TnJslea5 h05 been pr6wred li accorthce vAth 9)¢0e le9Jl reqLArements. Mult•is on whkh w• arè r•quSred lo POrt by •x¢•pllon In the Ight of the knladge ond undw5timdng of the chorflable comF¥Jny Its enronment obtalned n tho covvse ol audlt,we hove not Identwod matejknl 510teMentS In lh8 Reportof the TDJStees. W8 Ik7ve notNng to report respect of Ihe fdlowkng maller5 where th8 Conv)0n5 Act 2OD6 r8qukes iJ5 to t8Frt)rt lo youll. In our opOn'. adequal& occounllng rec$ hove N)t been kepl or refums adequole for tx11 have ml been rec&lved from bronches not vLslted by us: or the fnonciol 5tatemenls are rot in 03reementwth the accountn9 record5 and rgltms", (x certaln 01$cvre5 ol Iruslees, rgmmerallon specm8d by l(Jw ore not made., or we hove nDI received al the Informolh)n ond ewlanatDn5 we ¥ecwire lorowavdl. Resppl71No% ol Irv51 As b4)laknèd morè ful in th8 Slat8m8nt of Twstèss. R6sponsibilili85, the trust88s Iwho ore also Ihe theclor5 of lh8 charflabb ccxnpany lor Ihe purposes of company l¢Jwl ore responslbb the preparallon ol the Imncial slatements ond for boing sottsllecf Ihol they glve a Irua o)d lak Mew. and lof such Intemol conlrd os tIV51ees deletrrNnB is necessoty lo enoble the preptsioti>n ol lintsnciol statements thot OTe free from rnGterKJ nisst(slement. whelhw ¢aiJè to froud ¢M 6rwor. In Preparg Ihe tra1Cl Statements, Ihe twstee5 Ure respons1b for055esslng churfl(rt)le c¢Jnpory's casnty to con11nL o golng concem, dscb51ng. as Op1¢e. molleis reltsted lo going concem ond using Ihe gohg concèm basts ol accounlinu unless the trust6e$ <her Inlend fiquldate chOrflab compony or to ceosa op¢rutions, hove no re0111¢ ollem¢tiv8 bul to do $0. Our iesponslblmoi for Ihe oudltof the Ilnanclal Stalements Our obiEclives are k) obtain iea50nck assurance about whether the finoncid 5tatemgnts a5 g whde are free from malèrfd ml&stolem8nt. wh8thèr du6 lo fiwd or eor, and lo Lssu8 a Rgport ol Ihg IrthpeThYent AudN<x5 that Inclwlss opimn. Reosonabl8 055urarre Ts o htgh level of assvronce. bvl 15 Th)1 a guoranlee Ihut an owlil condtjcted in accordaice wilh A5 IUKI wlll always detect o motertal nIs5talemenl wn It extsts. s1O1entS C arfse fnxn frwd or errov ond are cOndered maleihl 11, iThJTh4duoW or in the oggregtste. they coul¢J ieoson(k)W be eypect&d lo Influence the economlc decblons ol users laken on Iha basL% of Ihes¥ fkncxickjl stolern9nts. Ihe extenl lowhkh ourprocedures ore capobb of detectkng ItregLlorftles, bdetalled b0. We obtad an urKlerslandng ol the legol and regulatory framewo5 thol ore opp11cobt8 to thè clvjrflable comparry detcrnned that m05t gficant fr£Theworks which tre 0yrect rekvonl to spec1 0s5erthon5 in Ihe flnorrlol stolem8nts are th059 Ihat r8la18 to lh8 reporllro frornework IVK GAAP oThJ the Compodes Acl Th161 Ihg rebv<t tox compllunce iegukntlons In the UK. We vThJersloc¥J how the ch0Ftlob company b comptylng wlth Ihose Ir1wO$ by mthJng nqLriries ol monogemenl and Ihose respo tor and C0rrrpQnce procetknes. We corroboroted enqutries Ihrovgh tevkw ofboatLI mlnvles grKI th¢vsslon5 wllh 1h05e chcwged wth govem¢Jnce. We 05se5S thg 5U5ceptbWty of Ihe ch(wltoble compgnvs flNJnchil stotr8ments to motrerfol MI1{)1eMenl, irrKKling how Iravd mlghl occvr, by d5CV5slon wllh manag&ment from varfou5 Pcrts ol the bune$S to Undeand whgre they conskjered Ihere wos o suscepthbilty lo fro. W& COrnKlered the procedures ond controls Ihot Ihe choritoble compony hcts e%t(t)r to prevent o)d tect frovd. orKJ trx)w th95e oio mnNored by morxyJem8nl. cxsd olso any enhunced risk factors such performorte torgets. Pog& 9
REPORT OF THE INDEPENDENT AVDITORS TOTHE MEMBERS OF THE •AARKFIELD INSTITUTE OF HIGHER EDUCATION B05ed on our unders1cdfftg. we de51gn¢d ow audit procedur05 tD Idenllty cry mn<4)mpfionce wrfh lows atlons klontlfted h the pafooraphs above. We olso perfomed cvjdlt worf¢ over tho rbk ol Magement overrfde of controL%, IrlUdirU teslng ol ltsJmol enlries (d other ocfjustrnents lor aFproprfatengss, evalwting Ih8 tXJ5tn855 rolkjnale o151glonI tr(ucrlK)n5 Ihe norrrKs1 cowse ot buskn955 ond reVra accixjntkng estlmole5 Iof a$. A fu1h8r d85crfptlon ol our reSponbIrt16S for Ihe oudll ol the Ilnonad stirternerbts 15 locoled on the HrKncld Reportlng CourLll's websle ot vw.frC.Ug.vkIaVl1O[sreSpOn$Ie5. 7tris deKriplbn forms part of ¢)ur Report ol the Independent Audt(X5. of our report This ioport15 mode Se to IhE chJritabb comparbys mene[S. as a body. in accoTdowe w(th Chopter 3 of Part 16 01 Ihe Componles Act 2Q)6. Ovr aLMlit woik has been undeftaken so Ihol we mi9N 51ule to th8 clKyitabl comporrf5 Ihose mallers we are vequiied Io slglg lo them In an avdltots, pOrt and lor no olher pUOSe. To the ful e)rtent P8rniMed by we do not occepl or cs5ume responsIlIty to aryon8 Other than Ihe ctrnrite compony and the charitablg c(xnpany's members os o body. foT gur oud5t work, lor IN5 report, or lor the opinK)n5 we have formed. Dllun Mtstry FCA Isgnlorstatutory Audltcyl lor (Y)d on beholt ol IC Grou 31 Hyh Vlgw Close Han-IDn Office Pork L*e51ei Ldc851ershkTe LE4 9LJ 21 224 Poge 10
THE klARKFIEID IN511TWE OF HIGHER EDUCATION STATEMENT OF FINANCIAI AcnvNIES Ftx The Year Ended 31 Decembw W26 2025 lold ILnds 2024 Told fuJS Unr8stricl8d furK Reslrfcted funds Noles INCOME AND ENDOWMENTS FROM Donollo and legacles 870.811 870JI I 155,156 Chorftoble ocMvWI•s Cour50 lees 659.W2 659,582 71458 other Ira(fing actMti8s InY851m8nl Income 4,842 4.842 11.615 Tolal 897.829 EXPENDITURE ON chari1( AclNllle5 475.201 475,201 451.3Q12 Ctabl• oellvNto$ Pfgmises costs AdM.r*5troln cos1s Governo costs 16,488 245.448 13,6 16,488 245,448 73.417 I70.2 rotal 750.737 707R71 Nel gohs on knYeslm8nls 80 NtT ITrICOME 918.19B 918.198 IBS1,958 RECONCIUATION OF FUNDS Told lund5 b¥oughl I(lard 121.603 253,805 375,408 T85.4) TOTAL FUNDS CARRIED FORWARD 253,805 1.293,606 CONTINUING OPERATIONS All IrKornp ond expgndtvte ha5 fr(xn contlrxjlro actMflg5. The note5 loim part ol Ih&5e ffnaneial Slaternts Pagell
THE MARKFIELD INSnTUTE OF HIGHER EDVCAIION {REGISTeRED NUMBER: 00471324) BALAfrICE SHEEr 31 December 2025 202S 2024 Noles FIXED ASSETS TlIble 0558ts Investment property 13 14 3.287 1,175.(K)O 3,8C 250.0(XJ 1,178.287 253AC CURRENT AS$Ets Oebtor5 Cash al b¢ and In hand Is 412.614 2CO.759 546.202 141,054 613,373 &q7.256 CREDITORS Amount5 falllTra due wTlhln one y¢or 16 1498,0541 1565.6561 NEI CURRENT ASSETS 115.319 IOTAL ASSETS LESS CURRENI LLABIUTIES 1.293.606 375.408 NtT ASSEFSI{LIABIUTIES} FUNDS Unre51fkled fund5 Resjricted funds 19 1,039,801 121,603 253,805 TOTAI FUND5 1,293,606 375.40B The nanclal statements were approved by Ihtr Board of Trwlges oThJ aulhorfsed lor ISSLB on F5 Murod- Iru5tèe Dr Z PoNè2- Accountabl& ()fficer noles fom port of Ihese fae1d stalermnls Pa 12
IHE MARKFIELD INSTITUTE OF HIGHER EDUCATION CASH FIOW STAIEMENY For The Year Ended 31 D•comber 2025 2025 2W24 Notes Cash Ilows from operalln9 Coh gen9rotgd from operalv)ns Net cosh provxled by opeiollng oclvmes 60.358 3514 Cosh tlovo trom InvesllNJ oclhN¥i Purchase ol tary1b (Jxsets 653 Net ¢09) v5ed in investirYJ aclfvllles 322 Change In cash and cash owlvalents Ihe repon9 perlod Cwh tsnd cash eqvlwalents olthe b•glnnlng ol Ihe reportlng perk)d 59.705 31.992 109L162 Coih ond cosh equfvul•nts alfh• end of Ihe rgPQrtlng pgrlod 141,054 The noles form porl or th858 Ilnanad 5tol8ments PO 13
THE MARKFIEID INSTITUTE OF HIGHER EDUCAlloN NOTE5 TO THE CASH FLOW STATEMENI ForThe Year Ended 31 De¢ember2W25 RECOIICIUATION OF NE[ INCOAIE TO NET CASH IIOW FROM OPERATING ACllVlnES 2025 Net Ineom• loi Ihe reportkng p•rtod (m peithe Slalemenl ol P11 A¢llvllt•31 Adjustrnenls for DepTeclollon Ctrrge$ I055es on Investm6nt5 Donoled fixed osget Inyeslrnnt property Decre05ellincrea5el in debtors IDtrcre05elllrtieose in cie(thto 918,198 189,958 1.174 1801Kl 1845.0 133.5B8 é7,602 1,162 1243.4321 87,826 Nel cath provlded by ¢4perallons 60.358 35,514 ANALYSIS OF CHANGE5 IN NET FUNDS Al 1.1.25 Cash flow At31.1225 N•t ca Cosh al tx]nk and in hand 2LYJ.759 141.054 59,705 2LM),759 Total 59,705 200.759 me notes l(m F)Ort ol these firvJncid slalemen15 Poge 14
IHe MARKIIEID IN5TillE OF HIGHER EDUCATION NOTES 10 TAE FINANCIAL STATEMENT5 ForThe Yeur Ended 37 D•cgmbr 2025 ACCOIINrnG POLICIES Bu$li ot prepaiknll the Ilnanclul statemenh Tha nanCIal stotements of Ihe ch()thtoble compary, whth o publc benefit erbtity FRS 102. hovo bgen e[xYed in accordonce wilh Ihe Chorititrs SORP IFRS 1021 'Attounthng ond Repoiting by Chorflles.. Slatemenl ol Rocornmgnded Practice (ypficcble lo charities prepcKiTrJ lh0CCOlIs in occordae wlh the fiwncI RepcKllrvJ Standa applkobb In kne UK ond Reput4k ol ITeland (FR5 1021 leflecltve I Jornjory 20191,, Flntsnclel Reportlng Standard 102 Fhonclol Rèporfng Standaid opcable In Ihe UK and ReputAr of IF81ar, ond the Companies Act %M)6. The financiol 5totem8nt5 IKJvfy b88n prepored under Ihe NsIoal cost convenlbrL a5 modfigd by the revduation ol certaln assets. Golng con¢¢m As cjl the polnt of authorIng the ¢c¢ounts. ond lor th& loresee0b luture, the Iw$10&5 the goTr concem assLKnpllon 10 51lll bg appropriote. The Irv51ees acknDvrt8d9e Ihal glven Ihe cuThenfv rapldy choTrJlng buneSS ond socFal environrrÉnt, th8r8 are Nkely to be 5ignllront unkty)wn foclors w5h may presenl lhemSe85. Such factors comkkned by Ihe dtredors lo represenl a general trthe¥enl leyel of rtsk In relollon to the golw concem assumpffon dbelt rK>t quantinablo at thls Ilme. In (xkbn lo Ihg ab)ve. the Irv5tee5 ¢on5hred the orrounts LJe to The bk¥rfc Fowdolon totoUirYJ £126,634 I24- £106,2381. The Foundolbn ts o r&G4stered chorlfy wllh trv5tees In commcpn wlth The Morkfield Inslitute ol HigIr £dLtallon. The Uomlc foundalTon has pbdged support lor lh& foreseeable hfvture. therefe. the occwnts hove been prepored on o goi concem bus. Inc• All Inccme Is recognlsed In Ihe statenI ol narLI Aclmlles once the chthfty hus enllwemenl to funds. 11 Is pr¢)boble Ihal Income 11 be ieceNecl and tl59 amount can be rnoowred r41otJy. DonolEonJ ond le9a¢i Donallons ue recognLsed when the chortty hos been nollfjed ITrng ol both the omunl and se11effnfj date. kn Ihe event Ihot a dorntl Is sublecl lo condlllorn that require o levèl ol perfomnce by tr chafity befoTe Ihe chOty Is entit ts the fuThJs. Ihe income L% deferr8d ond not 0nod unlil 85Sher those condilions (Jro lulty met. or the fu1ent of those condilicxns Whol wrlhin lh8 contrcA ol the charity and It k prOtble I1t Ihe5e condllonswlu ba fvmlled Sn Ihe reporlhg p8rlod. Legacy grft5 ore recogntsed on a case by cose b0515 following Ihe gront ol probol& whgn odmlni51roloilexeculor IOF Ihe eslole has cormiuricoled in writing btsth the cmounl and 5èMement dote. In the event thal lh8 glN th8 form ol on 0$5et oth8r thon cash or o lirKJncld asset troded on a recogn158d stock exchawe, tecognlllon15 SUt4ecl lo the vohje ol Ihe glll belno relab m&oswd)le wilh a degree ol reas0re ond Ihe tille to Ihe 055et hathg been 1ronslerred lo Ihe chartly. DorK21ed 055e15 treated es Income (w)d cq)Itdlsed tsl m(Akel value at the d(Jte ol tron5fer. Exp•nthr• iknbTrMles org rgcognlsed 05 8nture 05 soon as th8re 15 a bgol or corslwctlve 0oI10n corrmllliro the chorfty lo Ihol expendllure. 11 Is probable Ihol a InSIer of econon befil$ be qLked In 5ettthenf and the amovnt ol me obllgathon can be measured relSabty. Exwndture Is accounl&d for on on (ttDJcls bctsts ond hos been dossill&d under heodlngs Ihol aggregote dl cost rel(rted to cotegw. Where cosls cormt be dtyectly ofmbuted to pcxltular heothgs tfy hove been ollocoled to ¢rtlitt$ or> o bos15 con51slenl wth the v5e ol r85ources. Chuthbfe ucllvMIèJ charl101e exwndHui6 comprtses those costs Incurred by Ihe chully h Ihe dellvery ol Its oc1[lIeS and servkes for ils beneffciarfes. It h)ckJdes bolh costs Ihat ccn be alocoled (Jlrectty lo such vit$ and those cosls of on in(firecl nolure necess¢Jy to supp1 them. Page 15 contlnLd...
THE MARKAELD INSTITUTE OF HIGHER EDUCATION NOTES TO THE FINANCIAL $TATEMENTS . c4)nllnu•d Ihe Year Ended 31 DeeEmbvr202S ACCOUNTING POUCIES- ¢?nllnued Chorloble a¢ltvMle$ Support costs Support costs InCtr eentrd function5 and haye been dbcated to aclivity cost calegones on o bosls consislenl wth the u58 of resources, I exomple. crflocotiThJ propetty cos15 by fioor oreos, or por coplto. stottcosls by Ihe tune spenl and Ihe olhei costs by their u509o. Gov•man¢e CDSts These include the c051s ottTlbulatlg lo Ihe Ch¢1¥,$ compla? conslllulonol ond statutory requir)ents, IrrIlIng oudh, 51rote&ic m((aent and tIV5tee5's meelng5 and re&nbuised expenses. TOnge nxed D8preclotk)n Is proltJed al the folkmlng ann rale5 n order to wrtte off eoeh a55et over its eslvraled Useful Thle. Fixtures and fftlings Cornpul&requlm)¢nt 20% on cost 20% on cost Inveytrnent proper Investmnt propefly b slK)wn at rn05t recent valwtbn. Any ¢)Jgregole surF4u5 u dekrf orlslng from cknnges kn fa(r VC1 Is recogrised in the Stotemenl ol Mancial ACtiMt$. Taxalk+n The charily is &x&mpl Ir(yn CPoratn lox on ils ch¢labb aclmtkn. Fund oceounlkng lJntesitled funds can be used in occorc&irtrce 1 Ihe chamable objectives ot the drscrelh)n of Ihe tTVStees. Reslrlcted fund5 C (ty be v5ecl for partiCLknr rèstrfct8d puTros8s wItNn the oblects ol Ihe charfty. Reslrfclions ati5e wh8n 5pecltsd by the donDrorwhen lurKts ale rd5ed forporttutK re5trtcted purpostrs. Further explonation of Ihe nalvre ond PL¥P05e ol each furKI Ls Induded In the noles to Ihe Inonck st0terynts. Penslon costs L)nd olher p051-reifrernent bNiS Ihe churttabl& eomrAJny ope¥ate5 0 defined Ctbutk)n pernlon Sche. Contiibullons poyoble lo th ch(ytloble comp(nW5 P8wknn scheme ore chorged lo the Slatement of HrKnCtal Aclmlbs h the poilocl to whkh Ihey rekjle. Deblor5 Debtor baki85 Ofe recogrtseé when amounls dLP lo thg ren vnpokl. Deblcy bakmces ore regularly revlewed vthere Is reasoncble doubt thal a debt be recelved Sn full on (wproprknt8 provBion Is mode agtun5t that bakjnce. ¢redlle crelorbae5 tsco9nbgd when the charfty IncLv5 a IK#)Inly. PiovbK)n5 (xe mTh#e whon lh& chartly expected lo fjncur o IlcJkllty with respect to events or condwkjns occvn1r¥J prior to th8 year 8nd. Creditix baJrnce5 and pyovlxoS (ye revbwed regu1 lo eri$ that th&y (we foltty slatocl or hove been cleared CC¥Tecty. Page 16 conlknued...
THEMARKHEID INSTITUTE OF HIGHER EDiICAnON NOIES IOThE FINANCIAL STA7EMENfS- ¢onllnv•d For The Year Ended 31 Decembei 2025 DONAIIONS AND IEGACIES 225 2024 spOp cndscholcK5h tkTrnalior C*)notlon ofprope¥ly 45L 110.156 25,811 845.000 670,811 155,150 OTHER TRADING ACTIVIIIES 2)25 2024 Olher Income 4042 INVESTMENT INCOME 2025 2024 Rgnts rec8fved 53.7U) 16,200 INCOME FRO•A CHARITABIE ACTIVITIE$ 2025 2024 Actmty CcyJrse lees Course lees 9.582 714,858 CHARIIABLE AcThvmES Olhw trn0 q¢IMII 2(Y25 2024 Slollcosts studènt w¢wllment ond relewal UK border control fees ScholorsNps Property m(mog8m&nl féès Bod debts 469.087 1,930 661 10.4(k) 4.184 475,1 451 Poge 17 contnuéd...
THE MARKHEID INSIITIJTE 01 HIGHER EDUCATION IIOTES 10 TrIE HNANCIAL STATEMENTS - ¢onllnued or The Yeor Ended 310•eembèr 2025 CHARITABLE ACTMllES COSTS Support cos1515ee note 81 Costs Tolals Prem15es cost5 AdmiThstialion c05t5 G0vemare cost5 16,488 242.019 16,488 24S.448 13.6 3.429 I I,OLK) 260,501 SVPPORT COSTS GovematKe costs Adrrirri5tralion costs Gov8monce costs 3.429 11,600 15 NET INCOmEIIEXPENDURE} Net 5ncomellexndttvrel b stoled aftei ctr¥Jrglngllciedlirul'. X)25 2024 Audit5, remuneratk*) DeFyeoathon- owned assets 10,5DJ 1,162 io. TRUSIES, ItEMUNERATiON AND BENEFITS ele were TK) Iruslees. remunerollon otlEr beneffts th8 year end8d 31 Dgcemb8r 2125 nor for Ihg yeor ended 31 December 2024. Tw510th' •xp•ns Tlwe were no trusteas. ewenses poky lor Ihe year encl&d 31 Decembei 2025 nor For the year entsd 31 DecembÈr 2024. P18 crntUed...
THE MARKFIEID INSTrruTE OF HIGHER EDUCATION NOTES TO THE FINANCIAL STATEMENTS . conlInd For The Year Ended 31 Decembei 2025 STAFF COSTS 2025 2024 Woges and solaries Social security cost5 other pension cos15 421.859 34.948 12.280 393.718 28.139 12,027 469,087 433,884 The average monthly number of em 0yeeS during the yeorwas as follow5: 2025 12 2024 Academ¢c and adminislrotrion No ¥M0Vee3 received emdumenls n exce55 of £60.CLIQ. The total remvnerotlon pockoge recefved In the year by the h&ad of provider was.. 225 2024 Gross solary Pension Benefrts in kiThJ 50,r)04 2,188 2.188 52,192 52,1&8 The heod of providerfs bos sal¢Jry 15 2.312024 - 1.91 *imes Ihe medim poy ol staff. where the median pay- colculoted on o lull time equivolent basis for the salaries pad by the wovider lo ils stoll. 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled lunds Restricted funds Totol funds INCOME AND ENDOWMENTS FROM Donotjon5 and legocies 55.156 100.000 155.156 Charflable acllvtlSes Course lees 714E58 714.858 Other Ir¢xSng o¢lltieS Invèilrnènt income 11,615 16.200 11.615 16,200 797,829 100.o(N) 897.829 EXPENDITURE ON Chorilable Activities 440,902 10,400 451.302 ChorfPable athlNg5 Premises costs 73.417 73.417 Po9e 19 continued...
THE AIARKFIELD INSTITVIE OF HIGHER EDVCATfoN NOTES TO IHE FINANCIAL STATEMENTS . conllnued Fw Th• Yeur Ended 31 D•e•rrtbèr 2tr25 COMPARATIVES FOR IHE sfATEMENT OF FINANCIAL ACTIVITIES. conllnved Unr8slrlcled rurKJs Resmctod fmds Totd ftmds Adthtstrollon costs Govemance c0515 170.552 12,6C() 170,552 12,600 Tolal 697.471 707 NET INCOME l(I),358 189,958 RECONCIUAIK>N OF FiINDS Told fvnd5 broughl lonwrd 21,245 164.205 185.450 TOTAL FUNDS CARRIED FORWARD 253.805 13. TANGIBLE FIXED ASSEIS HxtLJres an fitllng5 Computer eQpment 101ds COST At l JaTrJary 2025 Addlth)n5 9,289 22231 31.620 653 Al 31 ttcembw 25 9,289 32273 DEPRECIAIION At l January 2025 Chotg9 toryeor 8,769 202 19.043 972 27,812 1.174 At 31 December 2025 20,015 28,986 NET BOOK VAiue Al 31 DecerrtJer2025 318 3287 At 31 Dgcember 2024 P(yJe 20 con11r..
IHE MARKFIEID IN5TITIITE Of HIGHER EDUCATION NOIES TO THE FINANCIAL STATEMENTS- conllnved ForThe Year Ended 31 December2VIS 14. INVESTMENT PROPERrY FAIR VAIUE At l J(N)uary 2W15 Addlllons Reyduotion 845.(h pxjmo At 31 t)ecember 2025 NET BOOK VALUE Al 31 Decombgl 2025 1,175,0(Ml At 31 D8cember2024 250,OLY) Foir 0131 Dacember 20 Is reptesented by.. VallOn in 2)25 Cost Bo,aoo 1,095,000 W Investment woperty had not bn revalued It WOLrfd knve been irluded at ihe lolk)whg hislorfcol c05t.. 2025 2024 Cost 1.095.(¥X) 2X),tX)O hveslmenl rxopetly w05 valLtd on an opgn mrykel tx$ on 31 tkncember 2025 by Ka Properly & ple Properti. DEITORS: NMQIIN15 FAIIING DUE WH1N ONE YEAR 2025 2024 Tio¢Je dEbtus otherdebtors Ptgpoymgnt5 and Occfued Irome 283.094 41889 356.357 45,741 412614 546,202 FO 21 conlkmjed...
THE MAIIKFIELD INSTITUTE OF HIGHER EDucAoN NOTfS TO THE FINANCIAL STATEMENTS - ctsnllnu•d ForThe Year Ended 31 December2025 CkED170K' AAIOUNTS FALUNG DuEWMEN ONE YEAR 2C125 2024 Trade credllo Socld securfty and 0thg¥ loxe5 Iskmic Foundotion Pen&on cfedlor Accwcls ond dolerred 3.89? 10.777 172,375 2.041 18.962 11.267 149,15B 1,718 396,025 498,054 Included kn'Accrvols and d&16rred Inctxn&" ts d&fered COLYS& 198 Income of £283.70D12024- £365,7351. 17. IEASING AGREEMENT5 Minlmum leo$8 puyments under non<onceluble operottw bo$951ol thje as folk. 2025 2024 thh one y8or B8lween ona cnd flve years In mue thon five year5 12,(A)O 48.LX)O 180.(XJO 12.(KKJ 48.IM) 192.OLKI 240.(K)O 2521 I& ANAIYSIS OF NET ASSEYS 8EIWEEN FUNDS 2W25 Told Ivnds 2024 Totd funds Unre51rktecl lund5 Rgslrkl8d Ivnds Flxed a5sels Investments CuFrenl o55ets CLnI11()I 3.287 1.175.000 359,568 4980541 3,287 T,175.000 6T3.373 498 250,(K)O 687.256 253005 I,039.1 253A05 1.293,006 375,408 Poge 22 c<11e...
THE MARKFIEiD INsnTWE OF HIGHER EDUCATION NOTES TO THE IINANCIAL STATEMENTS . conllnved ForTh• Y¢oi Ended 31 December 2025 MOV8MENT IN FUNDS Nel vnovemEnt I furKts Al 31.12.25 Al 1.125 UnTeiMcled lunds General fu1 0g%gnoled lund- Investment wptrrty 1128.3971 250.000 16,8021 925.0 1135,1991 1.175.fxK) 121,603 918,198 I,039,] ReJlrkl•d Ivnds Awords. schokirslips cd sponsorshlp5 Compu5 O&veloprnent Project 153,805 153.805 TOTAL FVNDS 918 198 I293.6 Nel movement in fu1$, wic1ed In tr c)ove are 05 lollows: Incon4ro lesources Resourcgs expended GolrK% ond 105S Movement In hJn(ts Unreitrfcted Ivnds G8neral Ivnd De51gnoled fund- Inveslmenl property 743,935 845,0 1750,73 16,8021 5,OLX) 1.588.935 750.737 916,198 TOTAI FUNDS 1.588,935 750,737 80,OC¥J 918,198 Comporalfvrf for movemenl In fthd¥ Nel movemgnt Irb fund5 At 31.1224 Al 1.114 Unresmcled funds Gera1 luThJ Delgnaled hJnd- Inve5trnent Pf¢)P3r 1228,7551 100258 11282971 250.0(K) 21,245 100. 121,603 R*itttcted lund¥ Awoid5. 5choknrsF¥ps 5porfjorsh Campu5 Developrrent Pro1 164205 110.4(NJl 100.tK 53, 100.N 164.205 89,0(X) 253X)5 TOTAI FUNDS 185.4 189.95B 375,408 Page 23 eonttnusd...
THE IAARKFIELD IN5TttLFIE OF HIGHER EDUCATION OTES TO THE FINANCIAI SIAIEMENTS . ¢onllnu•d r The Year Ended 31 D&¢ember 2025 MOVEMENT N FUNDS . eonllnu•d C(4nporotlve Th91 nY)vemenl in lund5. hchjded in the above (Ne 05 follows: Incomlro resources Re50urce5 xpendecl overpAnt In lund5 Unrethkted General luTh 797,W19 1697,4711 I),39 Reslkled lunds Awuds. scholatshlps (y)d sponsorsNp5 Campu5 Developrn8nt Proi8Ct (lo.4() 110,4CQI iOO,OOD its).000 TOTAL FINDS 897 707.8711 189.958 The 5peclfic pUSe$ for¥thrh the fund5 are to be applied ore as folows.. Thè reslricled Iwds represènt donallong ond CmOLY)1s glyen lo The InstlfrJte which hov& been glven on 1he bo515 thot they be vsed for specllc pwses such 0$ (woid%. schol$ ond skxJnstYsNps orKI for 5peclffc cou15e developm8nl. Reslwrcled ILmds kncIle £IOO,O(K) cc¥rfed loard whlch h been iecefved lor resloroli>n costs tcpKffd5 the Corrpus Devek)pmenl Foi2ct. 2Q RELATED PARIY IXSCLOSURES The MCYk91d knglltut8 of HighE>r EducotK)n IMIHEI h05 Trvstees In comrnon with The Founthtion IIFI. Durfng thg yerJ, MHE p(Y £49,451 13)24 £36.5231 lo If In rPed of ronl ond votiOU5 Qlhgr olli¢9 eypenses. At Ihe boknce sh1 dite MIHE owed IF a net amunt 01 £126.63412ffI4- £106,2381. The Apmedna Trus- Injstees In comon The Al-Me(fino TTU51 mode cknnafion of o property 27-35 Road, alhoM lo MAHE durhg the y8(T whlch wa5 vaTue5 Ot fA45,(K)012024- 5,oCX)). Madna Trust- trustees In COnon Modna Trusl mtyle o donottjn to MHE durfng1he yeorof£12.O¢J)12(r24- £12.WN)I. East Lonétyb Mosque Trust- tffusle¢s ) common MIHE made pvrch(J5es from East Lond)n Moswe Trust durfng the year of £386[2024 - £IX41 reklJ to 18ntd of cla55rorxn 5pac8. Page 24
niE MARKFlfLD INSTITUTE OF HIGHER EDUCATION DETAILED STATEMENT OF FINANCIAL ACThVITIES For rhe Yety Ended 31 December2tr25 2025 2024 IIICOME AND ÈNDOWMENIS Donallon$ and legoelÈi Sponsor5hlp 5chdarshlp5 Donollon5 Oonatlon of prope 45.WO 110,156 25,81 845,[j0 87011 155,156 Olher Imdlng actmlles oth&r Income 4,842 Inyestmenl Income Rents CeIVed 53.7 16,200 Charllabte act Course lees Tolol IncomlThJ resout$ 1,588.935 897B EXPENDtfilRE Olhei Iradlng aelMKes Wops ancl sdarifr5 Socid secLxIty costs Slaff pension5 Sludgllt recrvllment and roferrol UK bDrder control lees Scholarshlp5 P¥opgrty man¢yJement fe85 Bod debt5 421h59 34,948 12.280 393,718 28.139 12,027 1.920 10,400 1,502 4,805 4,184 475,201 45121r2 Chufftable a¢tlvMles Roles and woler Insuronce Ilght and heol Teph0nts P051age ond statiorry Advertlsing Rent and room hlre ReFoirs ond nlfilee Travellhg Currfecl forword 10.198 2,251 22.214 927 944 2,3BO 16,488 15,337 4,490 75.229 9.IrK) 2.163 8,280 1.130 1,982 3.869 13.769 3,402 6.386 70.081 ThL% poge does rKJI form part of1h& slalul¢xy fiClC1 slalements Poge 25
THE 41AARKFIELD INSTITUTE OF HIGHER EDVCAIION DEFAILED STATEMENT OF FINANCIAL AciivmES Foi Th* Yeur Ended 31 Dee•mbor2025 2tr25 ClrItable aclhllles Broughl lo)word Accommodallon and SLbsistence Events aThJ Ceremo5 Sund5 Intemel a)d IT exPee$ Pooks ond 5ub5copllon5 EQpMent lite C19(NOng 6oN¢ chorges Voldgkn( arKJ aCCTpdTtthon1ges Leuol professional FixtVTe5 ond lilllng5 depieclI0n Compuler equlFKnent d&piecknNon 75.229 4,620 3,193 236 I817 3,6 70.081 5.684 3.415 66 52,618 1.821 1.846 12.834 1,654 86.237 5,629 202 9dO 13.369 2,227 100.638 7.040 972 260x17 243.047 Svpwl ¢ts Gov•munce costs Audltor5' remvneratt)n Fin¢ opeiatbns mcnogem8nl 11.6 lo00 3,022 Tolal re59WC85 expende 750,737 707,871 Nel Income bOr&91ns ond 1051 838,19B 189.958 leoTh5ed r•cogn15ed galns and loises Redbed g¢insll105$051 on fixed a5sel investrnents Incom? 918,198 189,9 Thi5 kxjge does not lorm pth ol Ihe stolvlory 1trK)I slalem&nts Page 26