Oocus4n enveknpe ID.. F6350D5&1o9F4D7u4D￿F9A*7PSlAEl Company registration No. 06799564 {England & Wales) Chaiity No. 1129180 Ascentis Company Limited by Guarantee Trustees, Report and Consolidated Financial Statements For The Year Ended 31 July 2025 111 AEUIVZTS* 2110ff2026 COMPANIES HOUSE 4273 iffldepthider*E member ol centis Awafflina Or8anisar INTERNATIONAL Doc4J%gn Envdwelo.. F63SOD5>1DgF4D7M4D¥8F9A97851AE1 ASCENTIS ICOMPANY LIMITED BY GUARANTEE) CONTENTS Page Charty reference and aéministrative details Trustees. annual rep￿1 Independent auditor's report lo the Members CC￿S01￿￿ated statement of financial activities (Inccwratin9 the income and expenditL*re account) Charity statement of finanaal actiw'ties finc£ffpornting Ihe inc￿rne and expenditure a¢￿￿ntI 12 13 Consolh4ated balan¢e sheet 14 Charity balanee sheet 15 Conslidaled and chartty cash flow Statements 16 Notes lo the accounts 17 OooAgn Emielope IO". F635)D￿lDgF4D7B44D¢4F9Ag7B5IAE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2025 Reglstered charity namo Ascenlis Charity registration number 1129180 Company reglstration number 06799564 Principal oifi¢e Ascentis House 3 Mannin Way Caton Road Lancasler Lancashire LA1 3SW The Trust•es S Carli8le P C Wilkinson R Dav*s J Robinson W Robins(M) C Rawes Chief exècutive officer P C Wilkirtsofb Secreiary F Lugiano Auditor MHA 14 Mannin Way Lancaster LarKashire LA1 3SW Oocusvjn Envelope ID.. Fo3500￿lO9F4D7u4o4￿F9A97851AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDEO 31 JULY 2025 The Iruslees have pleasure in presenting thew report and the financial statements of the group and charity for the year ended 31 July 2025. This report includes the requirements ofa directors, report as required by company law. The finanaal statements CoM￿Y wth the Chariks Act 2011. the Companies Act 2006. the Memorandum and Articles of Association. and AccL)unting and Rerx)rting by Charitses.. Statement of Recommended Practi applicable to charities prepariry their accounts in accordance with Ihe Financial Reportsng Standard applicable in the UK and Republ￿ of Ireland IFRS 1021. Reference and administrative details Reference and administrative details are slH)wn oll page 2 of these financial statements. The trustees The trustees who seryed the charity during ihe period were as follows.. S Carlisle P C Wilkinson R Davies A Rushlon (resigned 6 December 20241 J Robinson W Robinson M M¢Tague (resigned 20 May 20251 C Rawes {apsx)inted 20 May 20251 S¢ru¢turei governance and managem•nt Ascenlis is a ¢haritable company limited by gtjarantee 1067995641 incorporated on 23 January 2009 and registered Mrilh the charity ¢ommiwon 111291801 on 19 April 2009. The company was established under a memorandum of ass¢xiation whi¢h defjnes Ihe objects arK1 p)wers of the charitable company and is govemed under its arty'cles of assrxiation. In the event of the wmpany being wound up, the members are required to contribute an amount not exceeding £1. Recruitment and appointment of new truslees The 808rd of Trustees appc¥nts new trustees up to a rYNnimum of 5 indiwduals. The Search and Govemance Committee recommerKls candidates with appropriate skills for considwation to the Board. The twslees deteminé the remuneration of key managem￿1 ￿tsonnel. InduCt￿n and tr8ining of new trustees New tnjstees meet the Group Chief ExeculNe Officer ICEOI and Company Secretary and a￿ introduced to the staff. The services provided by Ascentis. and ils obj'ectives and strategy are discussed in detail. The new trusteè is issued wth an information pack ￿ntainIng the f￿lo￿lng-. Responsibilities of Charity truslees emorandum and Arbcles of As5(Kiab¢)n Annual report and accounts Minutes of the last board rneeting Y8ar to date financial infomiation Schedule of Board meetings 8K)gr8phies of other Iruslees User guide and activation account for OnBoard 00cu￿9n Envelope ID.. F6350[￿&lD9F407￿D4¥F9A97851AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Organ￿atIonal stwture Every Injstee must sign a Decjaration of WillThJness lo act as a Trustee of Ihe Chariiy before they are eligible to vote at any meeling of Ihe tnjstees. The InJslees must hold al leasl 2 meetings a year and Ihey are responSi￿e for making strategic decisions. All trustees who have signed the 'Trustee of the Charity declaration have one vole on each issue at these meetings. Each issue may be delem)ined by a simple majority of voles Cast, with the Chainnan having a Se￿n￿ or casling vole if necessary. The day to day runniThJ of the tharity is de￿ated lo the Group CEO. who meets fofrnally wth his executive team on a regular basis. Related parties All related party transaclions entered into in the year are disdosed in the notes to the accl￿nts. There are no significant relatsonships any ¢)ther charities or organisations. except to ils own subsidiary. Alms. obi•ctives and activities. The objects of Ascentis are to promote and advan￿ educat￿￿n and training of young persons and adults. To acthieve these objects. we aim to maintain and imw)ve our portfolKJ of educational qualificati￿$ and make them accessible to a wider range of client gmups. In this way, we can help young peop￿ and adutts develop knowledge and 8equire new skills and have this fomialty recognised in the form of nationally or intemational recognised qualifications. We also support Ptjpils in primary and secondary schools through our tjyslexia, dyscakulia and mental heath an(J well-being inteNentbon S0ftMfa￿. We Teview our aims and acts'vilies eac* year. This review looks at what has been achieved, the outcomes of our work in the previous 12 monlhs, and the SU￿$$ of our acti￿111e$ in delivering benefits to those we were sel up lo help. This review also helps to ensure that our aims ané aclNities remain focused on our stated objectives and purpose. We have referred to the guNJance contained in the Charity Commission's general 9uidance on public b8nefil when reviewing our aims and in planning our fijture activ￿$. In partKular, we. the trustees. have considered how the planned activities will conlrrbule to the aims that we have sel. All ourcharilable activilies focus on the promob.on advancernentof education and training and are undertaken to further our charitable purwses for the public bwfit. The main objectives and activities for the year were.. lo rationalise the qualificat￿n product portfolbo so as to focu5 on ovr areas of strengths and lo make those producls accessible to a wider client group across the UK and overseas. to expand our dyslexia. dyscalculia and mental health sothvare provisK)n to schools across UK and overseas. in parti¢vlar, the UAE: lo provide the optimal level of support to txjr clients.. trj strengthen our staffing and infraslructure with appropriate inveslmenL to maintain strong financial health.. to keep our staff safe and w911 and lo protect the charity as far as possible against the impacl of high inftation. Ascenlis ensures that every opportunity is taken lo promote its by maintaining a website, hoslng events in localions-across4he44K-anthoverseas-. an&diVer5*3tlvertisin￿sucTrtr8S-thro￿gh e-maiFc8mpaIgn￿- The Trustees are pleased with the ¢harity's progress againsl the objeclives and in particular. recognise the very reasonable financial wrfomiance éespile the signth¢ant impact of the Cost-of-living crisis. Group income de¢￿ased marginally over the p￿VIouS year and the modest operating deficit was broadty in line with Ihe tsrget. Docus¥n Envd)pe ID.. F635OD5&109F4D7￿4Dl.BFgA978S1lE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 STRATEGIC REPORT Achievements and perforniance This is Ascenlis. seventeenth year of operalion since the transfer of activities and assets from the Open College of the North West on 1 August 2009. We further reviewed the product p)rtfolio and revised it to prowde a clear fC￿S on our areas of strength during the year. As part of this, we expanded the markets for the key Ascentis oualrficatK>n prcKluds and our dyslexia, dys¢alculia and mental heatth inteNenlion software services across the UK and overseas. In ord8r lo improve effe¢b"veness, we Invested appropriately in our staffing base antj tT infrastrudure. This swnd staffing and IT infrastructure have ena￿￿eLl us to d4iver our slaled objecb.ves effethety. l of these actions in¢reased the organisation's atx.lty to CA￿￿"nue to prosper wrthin an exceplionalty challenging business environmert for the tharity and education sectors. Financial review Reserves policy We have examined the requiremellts for reserves in light of the main risks to the organisalion and have established a policy whereby the free reserves (not including those in use funding the tangible fixed assets held by the charity or those designated for other purposes) should be between 4 and 9 months of normal thaiitable expenditure. The forecasted charitable expenditure in 202512026 is approximately £7.1 m and therefore. the target reseNes are between £2.4m and £5.3m. The ￿$￿Ve$ function as an impytsnt kX)tential financial buffer during this period against turbulence in the planning environment. This bjrbulence represents a constant challenge to the charity and the trustees. therefore. believe that it is Im[￿tant to mainlain reserves at a reasonable level. Total consolidated funds hekl at 31 July 2025 were £5.3m. After alh)w'ng for funds that can only be realised on disposal of a fix8d assets1£1.9ml. remaining tree reserves a￿ £3.4m. which remains in line with the above policy. The charity has no ￿Stricted funds Principal funding sotsrtes The principal sour¢e of income is from the registration and Certificatic￿ of candidates qualifications developed and aCC￿OIted by the charity and the sale of associated leaming materials and also dyslexia. dyscalculia and mental health interventvjn So￿are support service. The expenditu￿ of the charity on qualrfication and intervention sothvare development. m¢xleration and quality control and centre recognition a11 ensure that the qualifications and services offered provide the required benefits to those accessing them. Plans for fLrtuo periods. Thè periotj since the incèption of the tharity has been extremety successful wth significant overall growth. as we have ￿ached out lo a broader client base. Ch8nges in Govemment policy in recent years ￿k411n9 to the funding available for educational qualtfiCat￿OnS represent a s1gnffj￿n1 ¢haltenge for the charity. iKJl as a ￿sUIt of an effective plan skilfully implemenleL% by committed staff. the charity achieved an imwessive turnover in the year despite the signrficant irnpad of the cthi-of4iving crisis and restricted the operating deficit to a modest figure desprte significant in-year investment_ The Govemment policy changes wll continue lo ￿p￿sent 8 thalleftge to the charity and in the medium term, the target will be to maintain stability and continue to support our dients while ach￿ving further steady growih. The impact of negative funding poI￿Y wll be mitigated ty further growth of qualifications not in scope of funding policy reviews an¢J growth of the subsidiary, IDLS. Dc￿$￿an Envekjpe ID. F63S0o￿lD9F407&44044F9￿978slAEl ASCENTIS {COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 The charity has approved a realstic but challenging set of targets in rts strategic plan. This commits the charity to an aspiration for achieving steady growth and to improving atl aspects of its activtty overthe 5-year period to 2029. Progress tOW8r¢Js this vision will be achieved by developing and maintaining a high-quality PK)rtfolio ol extemally regulated qualific8th)ns and assoaated leaming materiaLs, expanding the dienl base across the UK and overseas and providing schools, colleges, and employers wilh the opb.mum level of customer support. Sirnullaneously. the Dyslexia, Dyscalculia and Mental Health Inleryention Supput serwce delive￿ through the wholly owned subsidiary company IDLS Ltd. wll be expanded Io 811 regw)ns of the UK and to specific overseas Tnarkets and new products will be developed for laun¢h in the USA from Spring 2026. Where appropriate. Ascentis wll seek to achieve growth through the acquisition of smaller companies where such acquisiiions are judged lo represent sound investment for the charity- Any suipluses generated ¥wll be Teinvested in slaffing and organisation's Infrastructu￿ so that the ￿v￿1 of resourong is 8N¥ays sufficient to deliver a 9￿d service. The corpM)rate objectives for the 202&26 year are as follows: 1. Ralionalise our pff￿UCt portldio to enhance sustain8bility. m￿Mise potents'al and improve capaaly for new product developments. 2. Devek)p a structured intemational Strategy and alKJn reswrces accordingty. 3. Continually enhance our approach lo financial plaming and analysis. 4. Al￿n our people %wth our growth plans through strategic workforce ￿anning. embed ernpkjyee ero8gement strategies to drive performance. and enhance our ccffipany values. 5. Mitigate intemal and extemal risks an(J ensu@ c￿nplI8nce wlh all regulators, legal requirements and stakeholders. 6. Create and implement a digilal transfomiation strategy to maximise efficiency and effecliveness through the use of ¢Jigilal lechTh)logy. 7. Maintain an ex￿lIent cL￿tomer experwe by c(M)b"nuously analysing and meeting our customers. evolving needs. Principal ri$k$ and uncertainties Risk management The major risks to whi¢h the charity is exposed are reviewed and sel oul in the Business Continuity Plan. together with the systems established to miligate those risks. Currently. the most signrficant medium-lerm risk is eonsidereé to be the impact of changing government policy in relation 10 the funding of qualificatsons. An additional more recent risk relates to the rewitrnent and retention of staff, with Ihe charrty having to compete with larger cornpan￿s offering increased salaries and the optk)n for homeworking. Currently, all risks are being successfully managed. Dlwsign Envdope 10.. F63￿D5&10$F4O7&84D￿F9A9TF51Ael ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Responsibilities of the trustees The Injstees {who are also the directots of Ascenkn"s for Ihe purposes of company lawl are responsible for preparing the Trustees Annual Report and the financial staternents in accordan￿ with applicable law and regulations. Company kqw requires the trustees to prepare finanual ststements for each finarrial year. Under that law the trustees have elected to prepare the financial statements in ac£Ordan￿ with Uniled Kingdom Generally Accepted Accounting Practice (United Kingd￿7 Ac£ounting Standards and applicable lawl. Under company law the trustèes musl not approve the finanu81 statements unless they are sats"sfied thai they gNe a true and fair view of the stste of affairs ol the charitable company and the group and Ihe income and expenditure of the charitable company for that period. In preparing these financrdl statemefits. the Injstees a￿ required lo= select suitable accounting poliaes and then appty them consistentty observe the Meth(￿lS and principles in the Charities Siatemenl of Recommended Practice {SORPI make ju¢Jgèmgnts and accounting estimates that are reasonable and prudent stsle whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements prepare the financial slalements on Ihe going CLIn￿M basis un￿sS it is inappropriate to presurrie that the group will conbnue in operalK)n The trustees are responsible for keeping adequate accounting records that 8re svfficienl to show and explain the charitable company's and group's transacb.ons and disclose with reasonable accuracy al any lime the financial posib.on of the group and enable them lo ensure that the finanaal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence f¢Y taking reasonable steps for the prevenlKJn and deleekn of fraud arKI other wregularities. Auditor MHA ￿￿ouS￿ traded thrcwjgh the legal entity Maclnwe Hudson LLP. In response to regulatory changes. Maclnlyre Hudson ceased to hold an audit registrats.on wth the engagement transttKining to MHA Audit Services LLP. MHA have indicated their willingness to be reappoinled as statutory auditors. Each of the persons who is a tnjstee at the date of approval of thi8 report confimis that.. So far as they a￿ aware there is no relevanl audit informats.on of whbch the group's auditor is unaware,. and each tnjslee has taken all steps that they ought to have taken as 3 Iwstee to make themselves aware of any re￿vant audit information and to establish that the group's auditor is aware of that infom)ation. Approval By approving the Irustees re￿rt the trustees are also approving Ihe strateoic report in their capacity as company directors. Signed on beh81f of the trustees Mr P C Wilkinson Tru51ee December 17, 2025 Enveknpe ID.. F63s0￿l09F407￿64o*eF9A97BS}AEl ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENTIS FOR THE YEAR ENDED 31 JULY 2025 Opinion We have audited the financial statements of As¢entis (the 'parenl charitable company'l and ils subsidiary (the 'group'l for the year ended 31 July 2025 which c<)mprise of the Consolidaleo Statement of Finanaal Acts'vities. Charity $￿teMent of Financial Actmties. Consolidated Balance Sheet. Charity 8alance Sheet. Consolidated and Charity Cash Flow Slalements and notes to the financial ststements. including a summary of significant accounting policies. The financial reporting framewort( that has been applied in their preparation is applicable law and United Kingdom Accounting Siandards. induding Financial Reporbng Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generalty Accepted Accounting Practice). In our opinion the financial ststements". give a true and fair wewof the stsle ofthe group's armj pa￿nt charitable company's affairs as al 31 July 2025. and of the group's trKoming resources and application of resources. induding ts income and expenditure, for the year then ended: have been property prepared in accordance with United Kingth)m Generally Accepted Accounting Practi￿. and have been prepared in accordance ￿th the wuirements of the Charities Act 2011. Ba$1$ for opinion We conducted our audit in accordance with Intema￿"onaI Siandards on Audib"ng IUKI IISAS (UK)) and applicable law. Our responsibilities under those slandards a￿ fvrther described in the auditorfs responsibilities for the audit of the financial statements secb.on of our report. We are independent of the group ant1 pa￿nt charitable company in accordance wlh Ihe ethical requirements that are relevant to wr aLKlit of the financial slalements in the UK. including the FRC'S Ethical Standard. and we have fU￿illed our Olher ethical responsibilitie5 in accordance with these requirernents. We believe Ih8t the audit evidence we have obtained 15 sufficient and appropriate lo provide a basis lor OUT opinion. Conclusions relating to going Cofbcern In auditing the financial stslements. we have concluded thal the trustees, use of the going concem basis of accounting in ihe preparation of Ihe finanual Stsiements is appropriate. Based on the wofk we have perfomied. we have not tdenttfied any material ijncertainlies relating to events or conditions that, indiwdually or colleclivety. may cast signffjicanl doubl on the group and parent charitable cornpany's ability lo ¢ontinue as a going concem for a period of at least tr￿ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibililies of thè tmslees I￿1h respect to going are described in the relevant seclions of this report. Docu$iqn Emidop8 ID.. F63500￿logF￿D7U4D￿F9A97Bs1AEl ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENOENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENTIS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Other inforniation The other informats.on comprises the infomation included in the trustees. annual report, other Ihan the finanaal ststements and our auditorfs report Ihereorb. The truslees are respw)nsible for the other infomatson. Our opinion cKh the financial statements does not Cover the other informalion and we do not express any fom of assurance condusion thereon. Our responsibilily is to read the olher informalion and. in doing so. consider whether the other informalion is materially inconsistent with the financial sialemenls or our knowledge obtained in the course of the audit or othetwise appears lo be materrally misstaled. If we hlentify such material inconsistencies or apparent material misstatements. we are required lo detemiine whelher this gives rise to a material misststement in the financial statements themselves. If, based on the Wofk we have performed. we conclude that Ihere is a rnaterial misststemenl uf this other informalw, we a￿ required to rep(¥t that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the foNowing matters rn relalron to which the Charitigs IAccounls and Repjrtsl regulation 2008 requi￿ us to re￿rt to you rf. in t￿1r opin￿n. the infomialion gwen in the trustees. annual ￿P)rt is ine￿$1$tent in any material respect with the financial ststerrtents.. or sufficient accc¥Jnting re￿d$ have not been kepl: or the financial statements are noi agreement wlh the aCc￿jnIMg reeords.. or we have not reeewed all the informaiion and explanaiions we require for our audJ"t. Responsibilities of trustees As explained more fully in the trustees. ￿sponsIbl11t1es st81ement sel out on page 7, the trustees (who are also the directors of the charitable company for the purposes of Company lawl are ￿sponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the Iruslees determine is necessary lo enabte Ihe weparathjn of financial statements that are free from material misslalement. whether due io fr3ud or error. In preparing the financial statements, the trustees are reswnsible for assessing the group and parent Charitable company's ability to continue as a going con¢em, disclosing. as applicable, mallers relaieé lo going concern and using the going con¢em basis of accountTrng unless the trustees etther intend lo liquidatè charitab￿2 company or to cease operations. or have no realistic altemative but lo do so. Clo¢￿v￿n Envew ID." F639)D5>109F4D7&84044F9A97B51AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENTIS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Audltor's responsibilities for th• audlt of the financial statements We have been appointed as auditor under section 151 of Ihe Charities Acl 2011 and retKJrt in accordance with the Act and relevanl reguLAtions made or having effect thereuThJer. Our objectives are to obtain reasonable assuran￿ abcHJt whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error, and to issue an auditorfs report that includes our opinion. Reason8bJe assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wll aK¥ays delect a malerial misstatement when it exists. Misstatements can arise Irom fraud or error and are consmlered material if. indivhdually or in the aggregate, they coukl reasonably be expected to influence the econom￿ deasK)ns of users taken the basis of these fin8ncial ststements. Irregularities, including fraud. a￿ instances of non-complrance wlh laws and regulaiions. We design procedures in line with our ￿sponsibl1111e$, outlined above. lo detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures a￿ capable of delecling ￿regula￿tIeS. including fraud is delailed bejow.. Enquiries wth the board about any known or suspected instsnces of non*compliance wilh laws regulations. including ffaud", Challenging assumptions and judgements rnade by the board in their signifunl a¢counlin9 estimates.. evaluation of the risk of managernent override of controls and subsequent lesling, including through testing journal entries and other adjustments for appropriateness-, Auditing the risk of fraud in income by way of Cut off teskn"ng. testing the deferral of income, 8$ well as income transaction testing to obtain evidence that income is complete and recognised n the correct accounting ￿ri￿a,. An evaluation of the charitsble ¢ompanWs intemal control ¢n￿riN}Ment,. and A review of board minLrtes. Because of the inherent limitations of an audit. there 15 8 rtsk that we wll not detect all irregularities. induding Ihose ￿adIng lo a rnaterial misstatement in the financial siatements or non-compliance with regulation. This risk increases the more Ihat cofftpltance with a laworwulatron is removed from Ihe events and Iransactiofts ￿llected in the financial sialements, as we wll be less likely to become awa￿ of instances of non-compliance. The risk is also greater regarding irregularit￿S occurring due to fraud rather than error. as fraLKI involves intenb"on31 concealment, forgery, Collusion. ornission or Misrep￿sentsti0n_ A further description of our resp)nsibilities is available on ihe Financial Reporting Council's website at.. htt s'.IlwMv.frc.o .uklauditorslaudit-assurancelauditor-s-res nsibililies-for-th udtt- f-th -fildesori tw)n-of- the-audIto￿￿E2°kn800￿99S.reS sibilities-for. This description forms part of our auditor's report. -10- DtsrA1￿gn EnvekJpe10.. F63500￿lo9F4D7B￿4o¥BF9A97BS1AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENns (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Use of our report This report is made solety to the charitable company's trustees. as a body. ￿ accordance with Part 4 of the Charities (Accovnls and Reports} Regulations 2008. Our au¢Jit wod( has been undertaken so that we might stale to Ihe charitable company's trustees those matters we are require(1 to stste to thèm in an auditorfs report and for no olher purpose. To the fullest extent pemiitted by law, we do rK)t accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body. for our audrt work, for this report. or for the opinions we have formed. MMA MHA Istatijtory Auditor) 14 Mannin Way Lancaster Lancashire LA1 3SW January 5. 2026 MHA is the trading narne of hIa¢1nty￿ Hudson LLP. a limiled liability partnership in England and Wales Iregistered number OC4555421. MHA is eligible for apwnlment as auditor of the charity by wrtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. rk)cusign Emidopelo.. F63KJ05&109F4D7U4O￿F9A97B5IAE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2025 Unrestricted R•stricled Totsl fvnds funds 2025 Total funds 2024 comè from: CharilatrAe acti¥4ties In￿Tr￿nts Q462,198 907 461198 64,907 6,727.131 68,252 Tolal 527.105 527.105 6,795.383 Expènditure on: Charit£tle actimties 7.210,288 7.210.288 6.861,534 Total 7.210.288 7.210.288 6,861.534 Net {expendlturel before other gains 1683.183) (683,1831 166.151} NÈt gains c*i investr*nts 45.153 45.153 Net lexpenditurel before transfers {6340301 {638,0301 {66,1511 Transfers beh*n funds Net m0￿ment in funds 1638.030) (638.0301 (66.151) Recondllatlon of funds: Total fvnds trought fiJM¢rd &985.487 5.985.487 6,051.638 Total fvnpenses 2.932 {17.712) {18.1601 Profrtlllossl bèfore dMr*able donatlon 21.954 116.596 Assèts Liabilities 39Q754 275.703 {500,331) (401,2341 Share capttal and res•rves (103,5171 (125,531) -2& Dwspjn Envdope ID.. F63%)D5>1D9F407WtM4F9A97B51AEI ASCENTIS (COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Expendlture on charitable actlvtties Group Promotion of education and Iraining Unre$lri¢ted Restri¢ted Total 2025 Total 2024 Costs of generating awarding quaI[f￿atiOn income Costs of generating IDLS in¢(Nne Support costs (see note 8) 2.850,401 961,491 3,398.396 2,850.401 961,491 3,398,396 2.883,722 958,023 3.019,789 7.210,288 7,210,288 6.861,534 Charlty Total 2025 Total 2024 Unrestricted Restricted Costs of generaling awardin9 qualificat income Support costs (see note 8) 2.850.401 2,893.550 2,850.401 2,889,S￿7 2,893,550 2,537,997 5.743.951 5.743,951 5,427.904 All expendrture on charitable activiti.es in Ihe comparative peric4J was unrestricted for both Group and Charity. -24- Docusww Envelope ID. F6WD55-1DgF4D7U4D4￿FgA9?851AEl ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Support costs Group Charttable activities Total 2025 Total 2024 Wages an¢J salaries Rent Rates and water Light and heat Repairs and maintenance Insurance Health and safety Consultancy fees Telephone Printing, postage and stationary Depreciation Arnortisation Information Technobgy Conference costs Sundry exp6ns8S Bank charges Bad debts Loss on disposal of fixed assets Profit on foreign exchange Accountancy fees Audit Fees Legal fees Professional subscriptions Disallowable VAT Recharges Intercompany ￿te off 1.371.829 258.759 26.727 44.143 58.058 43.774 4.069 59.994 9.886 3.454 238,646 156.658 558,344 1,371,829 258.759 26.727 44.143 58.058 43.774 4,069 59.994 9,886 3,454 238,646 156,658 558.344 56,830 163.921 5,283 35.327 25.42Q 161 16.032 18.600 20.006 2,469 223.146 1.319,680 258.758 20.547 34.878 75,195 39,933 10.536 72,570 8,362 4,829 240,792 99,116 556,684 49.054 153.529 13.292 {2791 5,204 12} 17,286 19,740 18,046 2.039 163,921 5.283 35.327 25.420 16 16.032 18.600 20.008 2.469 223.146 2.975 2.975 Totsl support casts lor group 3.398.396 3,398.396 3.019.789 -2 Dr£￿19Th EnvekpB 10.. F639JDS&10gF4D7&8404.8FgA97B51AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Support costs l¢ontinuedl Charity Charltable activtiies Total 2025 Total 2024 Wages and salaries Rent Rates and water Light and he8t Repairs and maintenance Insurance Health and safety Consultancy fees Telephone Pnnling, postage and Stal￿ary DepreciatwJn Amortisalion Information Technology Conference costs Sundry expenses Bank charges Bad debts Accountancy fees Audit Fees Legal fees Inlercompany loan waive(i Loss on disposal of fixed assets 0is811owable VAT Recharges 1.140.195 191,882 26,727 44.143 32.942 33,791 4.069 59.994 1.140.195 191,BB2 26,727 44,143 32,942 33.791 4,069 59.994 9,886 3,454 236,509 144.484 443,464 56.830 149.146 3.377 35.327 14.056 14,500 90 1.098,564 191,881 20,547 34,878 50.079 29,950 10.536 72,570 8.362 4,829 240.792 70,642 442,265 49,054 147,410 6.455 111.1601 13,576 13,375 1.676 41.716 3,454 236,$09 144.484 443,464 56,830 149,146 3.377 35.327 14.056 14.500 25.420 223.146 118 25.420 223.146 118 Totsl support costs for Charity 2.893.550 2.893,550 2,537,997 Docusvjn Envebpe ID.. F6350D5&109F4D7U404BF9A97B51AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED? FOR THE YEAR ENDED 31 JULY 2025 Net Income for the year 2025 2024 Net in¢ome is ststsd aftèr charging: Group Staff pension contributions Audlors, remuneration audit of the financial statements preparation of the financial stslements preparation of tax cornputatK)ns Depreciation of tangible assets - owned by the group AJnortisalion of intangible assets - owned by the group 162,840 154,754 18.600 5,100 720 19.740 4.920 1.170 238.646 240.792 156,658 99,116 Charity Staff pension crMlributKJns Audtors. remuneration auijil of the financial ststements preparation of the financial ststements Dep￿CIall0n of tangible assets - owned by the charity Amort1salion of Intangib￿ assets - owned by the charity 129,306 124.641 14,500 3,500 13.375 3,370 238.646 240.792 144.484 70.642 10 Staft costs and emoluments Total staff ¢osts were as follows: 2025 2024 Group Wages and salaries Social security costs Pension costs 3.870,021 329,531 162,840 3,691,263 279.684 154,754 Total group stsff Costs 4.362.392 4,125,701 Charity Wages and salaries Social security wsts Pension costs 2.979.225 245,830 129,306 2.761.056 212,754 124,641 Total charity staff costs 3.354,361 3.098,451 Indudeij in wages an¢J salaries are organisalional change costs of £35.877 {2024.' £12,580). This includes slalulory redundancy p8y, payment in lieu of notice and other mis¢eDanews costs. -27- 0¢kw￿gn Enve(ope ID.. F639)0￿10gF4D7B44C￿FgAg78Sl*El ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONnNUED) FOR THE YEAR ENDED 31 JULY 2025 10 Staff ￿$ts and emoluments (conllnued Particulars of employees- The average head count number of staff employed by the group during the year was as follows.. 2025 No 2024 Executive Charitable Support IDLS 73 21 23 73 23 120 128 The number of employees. whose ￿Munera￿.¢￿) for the year fell ￿￿thIn the foll¢)wing bands. were.. 2025 Na 2024 No £80,000 - £89.999 £90.000 - £99.999 £1(K),000-109.999 £130,000-139.999 £140,￿o-149,999 During the year, the followng number of execajtive employees earning more than £60.000 haé eonlributions to pènsion schemes: 2025 No 2024 No Accrued benefits under defined contritNJtsJn pension schemes Total employer contributions in the year for the provision ol defined wnlribution pension schemes Wi respect of employees eaming rn￿e than £60.000 were £39,571 12024". £39.0271. -2& rk)cusvJn Enveknpe ID.. F6350D55.1DgF4D7844D4.BFgA97BS1AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 11 Tangible fixed assets Group Leasehold Property Fix¢vre$ & Fittings Motor Vehicles Equipment Totals Cost Al 1 August 2024 Additions Disposals 934,173 535,627 308.365 31.920 111,248 108,167 104,9)4 98,000 1,886,332 136,824 209,248 At 31 July 2025 934,173 535,627 229,037 115,071 1,813,908 Oepreciation At 1 August 2024 Charge for the year Eliminated on dIS￿saIS 249.386 77.550 248.937 76,653 214,393 63.969 111.248 26,519 20,474 29.580 739.235 238.646 140.828 At 31 July 202S 326,936 325.590 167,114 17.413 837.053 Net book value At 31 July 2025 607,237 210.037 61.923 97.658 976.855 At 31 July 2024 684.787 286.690 93,972 81,648 1.147,097 Charity Leasehold Fixiures & Property Fittings Motor Vehicles Equipment Totals Cost At 1 August 2024 Addibons Disposals 934,173 535.627 301.953 31.920 111.248 108.167 104.9)4 98,000 1.879,920 136,824 209,248 At 31 July 2025 934.173 535.627 222,625 115.071 1,807,496 Depreciation At 1 A{￿ust 2024 Charge for the year Eliminated on disposats 249,386 77.550 248.937 76.653 214,393 61.832 111.248 26,519 20,474 29.580 739.235 236,509 140.828 At 31 July 2025 326.936 325.590 164.977 17.413 834.916 Net book value At 31 July 2025 607.237 210,037 97.658 972,580 Al 31 July 2024 684.787 286,6 87,560 81.648 1,140,685 DwJswJn Envelope ID". F635oDS&109F407￿4O￿FgA978S1AE1 ASCENTIS {COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 12 Intangible assets Group (Xh•r Intangible assets Software Develop- Intèlle¢tual costs ment costs property Totals Cost At 1 August 2024 Additions Transfers Dispos8L8 666.350 67,714 81.499 1116.2581 188.056 202.613 {81.499) 196.800 71.998 1.123,204 279,167 (19.3901 1135,648} At 31 July 2025 699.305 309.170 196,800 61,448 1,266.723 Amortisation Al 1 August 2024 Charge for the year Transfers Eliminated on disposal 230,515 84,981 16.3(XJ 116,258 22.778 15.492 (16,300) 49.757 6.985 303,050 156.658 49.2LX) 19.3 135,648 At 31 July 2025 215.538 21.970 49,200 37,352 324.060 Net book valu• At 31 July 2025 483,767 287,200 147,600 24,096 942,663 Al 31 July 2024 435,835 165.278 196,8CM) 22.241 820,154 Chaiity Other intsngible assets Sofiware Devolop Intellèctual C05ts m¢nl costs property Totals C¢st Al 1 August 2024 Additions Transfers Disposals 666.350 67.714 65.199 116,258 49.168 196.800 35.520 947,838 76,554 65,199 176,258 At 31 July 2025 683.005 49.168 196.800 44.360 973.333 Am¢rtisation At 1 August 2024 Charge for the year Eliminated on disposal 230.515 84.981 116.258 23,341 1.289 253,856 144,484 116,258 9.014 49.200 At 31 July 2025 199.238 9.014 49.200 24.630 282.082 Net.book_value Al 31 July 2025 483.767 40.154 147.600 19,730 691.251 At 31 July 2024 435,835 49.168 196.800 12.179 693.982 Docus¥n Envdow ID.. F63YJD5&109F4D7B44D44F9A97B51AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINVEDI FOR THE YEAR ENDED 31 JULY 2025 13 Investments Group and Charity 2025 2024 Other investrnents Balance brought fO￿ard {exduding cashl Cash injecti)ns Acquisilions at cost Disposals al cost Unrealised gains Cash held as Part of investrnent FQrtAro 993,489 45.153 6.511 Total Invesiments carrled forward 1.045,153 Historfcal c05t 993,489 Total investments ccwmprise of the followng Wes of invesknenls: UK listed equities & fixed interest securities Overseas listed equities & fixed interest securities Property and allwnative investments Cash held as part of investment portfdK) 18.223 979,760 40.659 6,511 1.045,153 14 Debtors Group 2025 Group 2024 Charity 2025 Charity 2024 Trade debtors Amounts owed by group undertakings Prepayments and accnjed incL)me Other debtlxs 307,677 633.287 184.932 455.967 271.438 524.781 429,291 225.486 2.870 280,708 250,825 3.781 594.233 887,893 918.185 1.182.428 -31- tlocuspan Env&k)PÈ ID.. F635IxI￿109F4D7B-B1D14F9Ag78slAEl ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 15 Investments Charity 2025 2024 Investrnents in subsldiary undertakings Cost brought fomard Total invèstmènts ¢anied fonvard Induded in investmenis is £1 representing the entire of the IsSi￿ share capital of Intemational DyslexFa Learning Solutions Limited and Virtual Academy Limited. Both companies are incorporated in England an Wales. Virtual Academy Limrted was dissofved on 23td September 2025. 16 Creditors- amount$ falling due within one year Group 2025 Group 2024 Charity 2025 Charity 2024 Trade creditors Other taxation and social securrty Other creditors Accruals and deferred income 240.398 150.767 37,609 278,457 211.556 133.123 43,413 326.366 210,821 150,767 32.830 268.449 191,262 133,123 31,828 320,441 707.231 714.458 662,867 676,654 Deferred income 2025 2024 Balance broughi forward Release of deferred InC￿e Income d8f8rred lo 2025-26 200.489 1200.489) 197,273 207.225 1207,2251 200.489 197,273 200.489 42- Docusign Envelcpe ID.. F635L￿S￿lD9P4D7M4￿BF9Ag70S1AE1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 17 Commltments under operallng leases Group 2025 Land and Buildings 2025 Other items 2024 Land and 8uiSdings 2024 Other items Within 1 ye8r Within 2 10 5 years After more than 5 ￿arS 262,500 1.050.000 1.443.750 33.601 10,625 262,500 1.312.500 1.443.750 34,499 35,224 2,756,250 44.226 3.018.750 69.723 Charity only 2025 Land and Buildings 2025 Other items 2024 Land and Buildings 2024 Other items Within 1 year Within 2 to 5 yea After more than 5 years 262.500 1,050,000 1,443,750 33.601 10,625 262.500 1.312.500 1.443,750 34,499 35.224 2,756.250 44226 3,018,750 69.723 18 Unrestricted income fvnd$: Currgnt year At31 July 2025 August 2024 Transfersl gains Income Expenditure Group Desgnaled Funds General Funds 5.985.487 6.527.105 (T.210.2881 45,153 5.347,457 Unrestrlcted funds 5,985.487 6,527,105 (7.210,2881 45,153 5.347,4S7 Charity Designated Funds General Funds 6.113.991 5,035.839 15.743,9511 45,153 5,451,032 Unrestricted funds 6,113.991 5.035,839 (5.743,9511 45,153 5.451.032 -3& t)ocuswJn Envew ID.. F635OD5&109F4D7￿o&BF9A97B51￿E1 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEPIENTS (CONTINUED) FOR THE YEAR ENOED 31 JULY 2025 19 Unre$trlded income fvnds: prior year At1 August 2023 At31 July 2024 Transfersl galns Income Expendlture Group Oesignaled Funds General Funds 212.339 5,839.299 1212,3391 212.339 6.795,383 {6.861.5341 5,985,487 Unr•$tri¢ted funds 6.051.638 6.795,383 {6,861,5341 5.985,487 Charity Designated Funds General Funds 212.339 6.099.424 1212,3391 212.339 5.230.132 15.427,9041 6.113,991 Unrestricted funds 6.311,763 5.230,132 15.427.904) 6.113.991 The Trustees ¢￿ated a designate