2025-08-31-accounts

DocusvJn EnVekj￿ ID.. 709350CC4FIE4EDE4014-932Agn￿731 Registered number.. 170408340 Charlty number.. 214339 PORTLAND COLLEGE (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 1111 'AF2YW63E' 2710*2026 CCWPH￿1£s HOUSE A16

DDcusign Envebpelo". 709350CC4F1E4ECE40141432A9J304731 PORTLAND COLLEGE (A company limited by guarnntee) CONTENTS Page Roforenu and admlnlstrathie detai15 of the Company, its" Trustses and advisers Trustees. report Independent audltors. report on lh• financlal statements Consolidated slatement of financial aetlvllles 2-13 14-17 18 Consolidated balance sheel 19-20 Company balance sheet Consolidated $tatem•nt of cash flows 21-22 23 Not•s to the financlal statements 24-52

Docusigh Envebpe10.. 709350CC4%F1E4EOE4014-932A90304731 PORTLAND COLLEGE (A company limiled by guarantse) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Truslees Mr M Briggs. Vice Chair Ms J Buuer Ms H Ccx)per IresNJne(11 February 20261 Mr D Dowbenko Ms S Egley Mr P Eme￿n. w￿e Cha Ms A Farr Mr D Fathers {resigned 30 June 2025) Dr D Green. Chair of Trustees Mr S Jack50n Ms D Jackson Ms M Murray Councilknr S Deakin. CO￿pted Trustee Company r•gistered number 00408340 Charity rogist•r•d numb*r 214339 Registered office Nottingham Road Mansfield Nottinghamshire NG184TJ President Vlce Presidents Mrs A Swan Parente MBE OL Mrs D McDonald Mr K McDonald Mr H P Matheson DL Professor C O'Brien OBE Company s•¢r•tary Mr I Cown (until 3 D￿eMber 2024} Mr D Stanway (from 3 O￿arnber 2024) Chief executiye offi¢er Mr M Dale Independent auditorn PKF Smth CooperAudtt Lixited Statutory Auditors 2 Lace Market Square Nottingham NG1 1PB Bankers HSBC Bank pic 1 Sl. Peterfs Street Deiby DE1 2AE Solicitors Freeth's LLP Cardinal Squa 2nd Floor. Wesl Pcmnt 10 Nottingham Roaj Derby DE1 3QT Page 1

DO￿￿9n EnW¢ ID". 7o9350CC-6F1E4EDE4014932A￿3O1F31 PORTLAND COLLEGE {A c¢)mpany limltÈd by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present their annual report together with the audited financial statements of the Company for the 1 Septernber 2024 to 31 August 2025. The Annual report S8Thes the Purposes of both a Tfuslees, re4)ort and a directois. report under company law. The Trustees ¢onfirm that the Annual report and financial statements of the charilable company comply wth the Current slalulory requirements, the requirements of the charbtable company's governing document and the provisions of the Slalement of Recommended Practice ISORPI applicable to charilies pieparing their accounts in accordance wth the Financral Reporting Standard applicable in the UK and Republic of Irèland {FRS102} {effectTrve 1 January 2019}. The strategic report required under company law is included in this report and covws the seclion$ of athievemenl and perf0m￿nCe. financial revw and plans for lulure periods. Portland College has th￿e wholty owned subsidiaries, Poruand College Enterprises Limited, Polly Teach Limited and Jumpstart AP Ltd, all held in Poruand Colkge Enlerprises knmited. All income. expenditure and balance sheets for the year ended 31 August 2025 have been consolidated into the Portland College acwunls. wth explanatory note5. Objectives and activities a. Polici¢$ and obi•cli￿$ Portland College operates a vlbrant, national col for people wlh a wide range ol disabilities. It is one of the loromost Colleges of ils type in the United Kingdom. providing good leaming opportunities for well over leamers, ￿sidentS and citizens aged from 9 upwards. The College's principal objectTves, set out in Article 5 of its Articles of Association, are 'For the public benefit to advance the education of and promote the relief of persons with disabilities by any and every means". The vi&on statement of the Company is Ihat all peO￿e tpmh disabilitl8s wll have a lrfetsme of opportunity. Our mission is to delwer excelnt pmgrammes to inspire and empower peop￿ wth disabilities to live more independent and fulfilling lives. The Company V•ill achieve this ambib.on by con￿ntrating on its three strategic goals". An increased number of benefi￿aries will be able to access a WKler. more diversrfied seryice offer and will a¢h￿ve improved health andlor fitness through participab"on. An increased number of beneficiaries wll be able to access a more di¥￿Sified service offer and will adlieve their core goals to lead a more independent lrfe. An incrèased number of kwple benefitting from empkjydbifity programmes, achieving and sustsining work Ibolh waged and voluntary) or being enabled to access olher provision. The Cdlege focuses on $UPPOTting student achievement and progres$￿Tr. Cp)lIab￿tIng and eO<Jperating with others. In particular the College has striven to produce clear evidence that the qualty of the provision made for ils students demonstrates the impact of these Strateg￿ themes. The Directors confirn that during their ¢onsid8ration of the ￿lIe￿-w1de phikjsophy. due regard of Charity Commission guidanc8 on public benefit has been tsken aco)unl of and acted upon, where n￿eSsary. The main activities undertaken by Ihe Cdlege a￿ sludent teachvig, leaming and assessment carried out by the Further Edu¢8tKJn team 5UPPOrted by therapy teams and Residential Leaming. In adult social care we provide residential and day services induding sI￿rt b￿sk$Iresprfe. The other activities in line with our Articles of Association objectives indude an employment support prtoramme. PortLgnd Pathwa￿ and the fully inclusive Woodland Adventure Z¢)ne. In 2024-25. there were a number of commercial actiwties including lettings and hospitality funth.ons ¢)perated through our subsidiary company Portlarhd College Enterprises Limilecj. Polty Teach Limited was established in 2014 and joined the Portland group in September 2020. providing high quality individual and group tuition for young people who are disengaged from mainstream 8ducalion. Combining social work, with leaching pract￿ and youth Wofk, Pdly Teach Provides bespoke leaming programmes to youn9 people with a range of emots"onal. $￿jaI, and behavioural drffi¢ullies that make it drtficull for them 10 8ttentl school. Polly Teach is an Ofsled registered school wth lull ts.me on roll puwls as well as part time pupils referre(J by local authorities or through subconlracl from sCho￿S prowding core educational programmes {Maths. English and Science} and vocational pl￿(ammeS for pup*ls at Key Stsges 2, 3 aThJ 4. Page 2

DoGU5vJn EThveknp2 ￿.. 70935(CC-6F1E-OEOE-8014-932Ag)304n1 PORTLAND COLLEGE {A company limitsd ty guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 Objectives and actlvities {continuedl Jumpslart AP Ltd was established Ki 2022 and was incoTPOT8ted into the Portland group in Auwsl 2024. Jvmpstart provides high quality vocational tuition and qualificat￿nS for young people (Key Stsges 3 and 41 who are disengaged from mainstream education. Jumpstart AP is a registered Aliematsve Provision Service with Nottin9hamshire County Council offering pari4ime pla￿ to pupils referred by local authorities and schools offering engagement actmties and vocational quafrfications in motor vthcfe maintsnance. sports including sport and hair & beauty. In setting objeth.ves and planning for activities, the Trustees have given due consi(Jeration to general guidar published by the Charity Commission relating to public benefit, induding the guMdan¢e 'Publi¢ benefit.. running a charity (PB21'. b. Volunteers Portland Collegè values the Slgnffj￿nt contributions from volunteers who support in a variety of roles. including leaming and ¢8re support, catering. eslates maintenano. minibus driving and fundrarsing. The Group benefitted from 9.379.5 volunteering hours in 2024-25 - an increase of 20% on the prior year. The Volunteer and CSR Coordinator also supports local businesses to meet their Corporate sou.al Resrx)nsibility Obl￿tiveS by promotsng and facililating chantsble activities. Slrategic report Achievements and performanct . Main achievements of the Company The prinripal actiwty of Portland College is to provide the appropriate ￿Ve1 of learning & leaching and care support for people ￿th disabilibes and mentsl health condit￿n$. Leamers and citizefts a￿ fvnded principally by Local Auihorilie5 and the Department for E0￿￿t￿n IOfEI who cover the dir8ct and support costs of thè placement. The college fundraises to cover the ￿$1 of r￿W facilrties and equipment lo enhance the experiencg and learning of learners and c￿zens. Need. rather Ihan ability to pay. is the key determinant of whether prospective leamers access our leaming an leaching programmes. The Trustees are therefore fully satssfied that our acts"VTknes meet the legal public benefit requirement_ Learning and tea¢hlng During 2024-25. High Needs Student funded leamer numbers rose to 281, 12% up ¢)n the previous year. Success rates lor these leamers on accrediled qualifications continued lo show that good progress has been made in line with goals and aspirat*)ns. The College was inspected by Ofsled in January 2023 and receNed an overall Outstsnding assessment with an outstanding verdict in each category. The Trustees carefully monrtor the quality of this provision with a view to sustaining quality al the highest level. We have continued to imiest in new teaching fa¢ilities. opening our Nottirwjham camws on Forest Road West in Seplernber 2024 and purchasing a second Nottingham Campus on Woodborough Road that opened in Septernber 2025. These significant investments enabfe us to respond constructively lo the rising demand for Specialist education placements in the region, providing excellent educatKJn opportunities closer lo young people's homes. Our Local Authority partners also benefrt from potential savings on IranspoTI or residential costs where they might otherwise have to place young out of area. We have continued to invest in the main campus. notsbty in thè fami and animal care facilities and rolling programme of upgradirtg l.T. equipment. In 2024-25 we undertook a major refij￿IshMenI of a 195Os resKlential buiklirvj. a I))mp￿te remodelling of Page 3

OrKusfjri Envebp6 ID. 70935[￿C￿F1E￿EDE-80I4-932X•)30473l PoRTL￿D COLLEGE (A company limited by guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Strategi¢ report {continued} Achievements and perfomiance Icont•nued) the building shell to develop a 9 bed student residence en-suile ￿1hr￿mS antl 6 independent living flats for students sludying on FE programmes. This enables us to offer a diverse range of accommodation lo families and commissioners nationalty. Our project design brief has resulted in a building that is carbon-negalive in annual energy consumpts.on and benefits from the retaining the embedded cartjon of the orignal stru¢ture. The Be Healthy, Active and Courageous project supports our aim to improve health and wellbeing. We rg¢ognis that mental ill health is a growing challenge for our leamers and this initiative. along with more traditional support suth as counselling service. embeds support for leamers in this area. Safeguarding arrarffJements are a strength of Ihe Cdlege and we have implemented the govemment Prevent agenda effe¢tively. Leamers feel safe and staff are skn'lled in supporknng leamers who find transikn.on into the college environment a chaI￿nge. Car• Citizens access our care proths•￿ in a range of ways through the Day Service, Residenlial Learning, Short BreakslRespite SeM¢e or Independent Lr￿n9 programme. The Day Service provision is classed as non- regulated, whilst the others ar8 all regulated by the Care Qualty Commission. All care services are wdely considered to be caring and person-centred with demonstrable outcomes. We have been able to buikl on the excellent reputstion of the Cole. by improving and wdening the impact of our offer to leamers and otizens Ilhe Preferred temi. rather than rtrsident or seNce user). Regulated services are inspected by the Care Quality Commission and Portland Freedom was rated Good al the most recent inspection {May 20181. Our Independent Living provision has benefitted from a rdling programme of renewals to en-suite balhroorn facilities. In Ihe Day Services. our market pos1th￿ as a qualty pyowder has continued to strengthen (Jemand for places continues lo be eX￿P￿onallY high. We could not meet all demands for places in our campus&35ed provision so it was necessary lo develop Ihe service in the community hubs 5 days a woek from 3 venues in Mansfield and Ravenshead. Our staffing position has stabilised despite the general national picture of high vacancy rates for social cara jobs. We believe our staff routinely demonstrate commitment above ana beyond thè expectation of nomial se￿Ice delivery and we need to find ways to capture and p￿sent dats to demonstrate that. We a￿ using an educats'on framework to record progress by our Indepen¢Jent Living Citizens bul are hampgred by the lack of suitsble progression opportunitses for Ihv3e crtttens outside the services we directly manago in the GTOUP. Polty Teach Limit•d The school was last inspected by ofsled in the summer of 2023 and achieved a 'Good' with areas of outstanding pra¢li¢e, induding outstanding in personal development. Leaders have prowded a bespoke curriculum for each individual and have designed a well-planned and structured curriculum", it sets out what pupils are expected to achieve acTOSS all subjects. including vocat￿nal Subjects, and the cJJrriculum is implemented well. The new KS2 prograrnrne has had limited success so far wth insufficient referrals to jusbfy s￿nIfiCant allocation of resources (Spa￿ and slaffing) and competing demands for places al KS4. The increase in referrals of pupils witl) high SEND needs and particularty SEMH (social. emotional and mental health) needs noted in last year's report has continuetj. Pollweach has reswnded with the ¢Jevelopment of accredited Forest School activity but the planned development of Trauma-InfoTmed accre(Jitation has been postponed for one year. Portland Pathways 2024-25 was another year of high achievement in this community-facing prowsion which received nearty 674 new referrals in-year lup 13% on 202>24). Pathways supports mainly adults who are long-lem reopients of welfare or disability benefits. During the year we opened further hub offices in Newark-on-Trent and Kirkby-in Ashfield and received new funding from National Lotteries Community to support the Servi￿ into 2026. All core performanc8 targets for Palhways were exceeded with 114 jckn starts and 324 enrobmenls of our Rebuild Your Mental Heahh course. Page 4

Dowwgn Enveknpe ID.. To93￿c¢F1E4EDE￿0I4-932A9)304T31 PORTLAND COLLEGE (A ¢ompany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Strategi¢ report {continued> A¢hlovem•nts and ￿rfOrnian¢• (continued W04>dland Adv•nture Zon¢lN•wstart Arts & Activiti•s The Woodland Advenlure Zone and Newstart facilities suppcwt l)oth benefi¢iaries of the Companls core services but also engage in sKJnificanl outreach and delivery for other child￿rt and adults with disabilities. Participatson nurnbers fof both offers grew in 2024-25 wrth 1,764 extemal user interactions in the Wty)dland Adventure Zone {840 in the prior yearl and a total of 3023 internayexlemal user intera¢t¢ons for Newstart Arts and Ath'vitses programme12.190 in the prior yearl. Jumpstart AP The Group acquired Jumpslart AP in August 2024 and the planned growth trajectory was not borne out by suffic¢enl commissioned numbers to support 3 sites. The Jumpstart directors undertook a restructure of the business in the summer of 2025 to pos[t￿n the company to move into a prOffitab￿ Irading budget for 202&26. b. Fundralslng activities al￿ income generation The fundraising team continues to raise funds via apphcations to trusts. indiwduals. organisations, and by organising a number of countywide fundraisirg events throughout the ￿81. Fundraising targets are project- based and change each year to align with Ihe strategic plan. The team achieved 90% of their largel this year, with charrtable income grants totalling £880k {£1,140k in 202>24). Funding pfedges for the Pines relurbtshmenl were fully realised in 2024-25 and other grant Sou￿$ seujred for the projecl. Other key projects included funding for outdoor therapy and adventure actiwty equipment and Porlland Palhways. Financial r•vi•w . Going eoncern After making appropriate enquiries. the Tnjstees have a reasonable expectation th the Group has adequate resour¢es to continue in operalH)nal existenee for the foreseeab￿ futu￿. For this reason, they continue to adopt the going concem basis in preparing the financial ststements. Further delails regarL1ing the adopti¢M of the going concem basis can be found in the accounting policies. b. Resèrves policy Resefves are those funds available to the Group once il has met ts commitments and covered planned expendiiure. The unrestn.cted Free Reserves retained as al 31 August 2025 £15.999k1£13.719k in 20241. The Group retain 'Free' Rèserves at a level that wcmjld meet unforeseen shortfalls in short-term income streams. Th& basis of calculation of Free Reserves agreed by the Directors is 1-3 months expenditure. Free Reserves do not include Restricted or DesTrgnated Funds. or fixed assets. General College ftjnds of £15.999k {note 221 less fixed assets of £13,441k Inotes 14 and 151 equates to Free ReseNes of £2.558k. The Designated Funds as al 31 August 2025 lolal £750k (£1.OOOk in 20241 and a￿ for lulU￿ prqects. They afe listed in Note 22 of the Financial Stalemenls. The Directors have approved a eampus master plan which se15 out a 10-year Capital programme (to approximately 2027} to further develop our wcrt)dland campus into the premier further education destination for disa￿8￿ Peop￿ in the UK. The level of Free Reserves required lo cover 14 M￿th5 expÈndrtu￿ 1$ £1,724k lo £5.172k as al 31 August 202512024.. £1,539 10 £4,616k). The Direetors undertake wuLar reviews of the level of Reserves and they a satisfied that the current ￿Ve1 meets the Group's requirements (last reviewed and approved by the Board of Trustefjs al its meeting ￿ 22 January 2025. Page 5

DocusvJn Erwek)p8 ID.. 7o935ttc4F1E￿EDE-￿1¢932A￿Jjo473l PORTLAND COLLEGE (A ¢ompany Ilmlted by guarants•) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 ¢. Material investments poltcy The 01￿ClOrS require the best use lo be made of available cash resources through the prudent placement of fixed-temi investments_ Fixed4erm UK bank deposits total￿d £250k a5 al the Balance Sheet dale 31 August 2025 1£250k in 20241 and Cash at Bank on Deposit slood at £4,264k1£3,700k in 2024}. Total cash and rash equivalents at bank increased by £564k during the srar. The annual relum on investments and Cash al bank was £76k {£63k in 2024). d. Principal risks and un¢ertainti•$ A regular assessment of risk is carried Lxrt, covering finanoal and nonthfinan(ial risks to which the COl￿e is exposed, with a particular emphasis on those risks which involve beneficiaries. This assessment is fomially reviewed at every main 8oard meeting, Mlh the Audit Committee able to SC￿tin1se risk management in mor8 detail where direcied by the Board. Each idenltfied risk is RAG fated. allocated to an individual senior manager and actions identified to minimise the overall risks. The risk ￿l$ler is an interactive document that is continually reviewed and updated by the senior rn3nagerr￿t leam who identify risks and manage mits"galbon activities. Thg main areas of risk for the Organisa￿n are cons¥Jered to be: Local authority financial insolvency (i.e. Section 114 notfficat￿ns under the Local Government Finance Act 19881 leading to defundin9 of post-16 special transport provisK)n andlor late payynent or attempted ¢dLscatson of ￿a¢ernent fees. Reputalional damage follwng a safeguarding or Prevent incmlent invofving a ￿aMer or citizen. Cylxr Se¢urily risk through virus and cyber-atiack leading to loss of information's system controlling all areas of the College business and campus security. Price. wage and tax inflation I&￿ing to finanaal instsbih"ty. Inability to recruil sufficient number5 of qualified staff in the contexl of growing St￿￿ent numbers. e. Principal funding The primary sources of fundin9 for the Group are student fees and residential ¢aTe fees. Sludenl education and residential fees are fvnded the DfE and hxal authorrties whilst residential and day service fees were ￿ceiVed from adult social care and heath authorities. f. Group operating results The Group has generated a surplus for the year ended 31 August 2025 of £2,131k (£2,265k in 20241. g. Flxed assets Changes in Fixed Assets are shown n No¢e 15 10 th8 Financkil Statements. In the opinion of the Directors th8 market value of the freehold property may drffer from th8 trx)ok value, but as there is no intention of disposing of any premises, it is therefore not conswjered appr¢)priale to quants.fy the difference. Page 6

Dcojslgn envdce ID.. 70935jCC4F1E-8EDE￿14.932￿3O1731 PORTLAND COLLEGE {A company limited by gu¥rantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Structure. governance and management a. Constitution ' Portland College was f￿ded as a company limiled by guarantee (Company number 004083401 on 12 April 1946 and is governed in accordance with its Articles of Association. As a registered charity Icharily number 2143391, the College is also subject to the rules of the Challty Commission. The group results incorporate Portland College Enterprises Limited. Pdly Teach Limited and Jumpstart AP Ltd, all companie5 registered in England and Waks. The College is controlled by a Board of Tru51ees {the Directo￿ under Company Law). who bring a broad range of expertise to the College and are appointed by the Members of the College at a General Meeting. Under Article 25, the Goveming Body musl comprise not less than 10 Ordinary Trustees and (if and only if appointed as Governoisl, the P￿SIdent and Vi¢e-Presidents of the College. An Ordinary Trustee is appointed for a term of four years. and nomially would serve no more than ts¥o consecuts.ve tern)s. The Ex-officio Members i.e. President and Vice-Presrdents are appointed annualty. On apwntment, new Trustees are given a personal induction to the College. individual meetings Wrth all senior managers and an infomialion pack including the Governing Document and familiarising Ihem with the work of the Board and their roles and responsibilits'es. In accordance the A￿CloS of As￿latiOn. the TNst¢es retire by rotalion. The Board of Trustees has an oKn recruitment policy. b. Methods of appolntment or electlon of Truste•s The managemènl ol the Group and the Company is the re5F4￿SlbIIty of the Trustees WI￿ are elected and co opted under the terms of the Trust deed. . Organisatlonal structure and decision4naking policies The College benefits from a governing body possessing a comprehensiv8 range of skills and exp&rien¢e which allows detsiled oversight of all facets of the busines5 of the College_ The Trustees discharge their dulios via Goveming Body meetings, hekj at least four times per year and through a range of Committees whi¢h include.. Audit Committee. Remunerats"on Committee. Oversight of Slan¢Jards Group. Oversight of Finance Group, Enlerprises Board. Estates Pknning Group and Development Working Group. These committees, together wf(h any other working parties that may at time5 be necessary, meet as and when required. The Principal and Chief Executive Officer is responsible lo the Tru51ees for the day-104Jay running of the College and the execution of slrale9y and poliaes as dec￿ed by the Board of TTuslees. In 2024-25. the breadth of 8oard expertise available to the College is described betow". Dawn Greon 8Sc (Honsl PhD CertEd PGDlp FSET- Chair of Trustees Dawn josned the Board in 2015. She was previously Principal & CEO at Landmarks College and VI￿ Principal at Portland Collage. She is now the Karten Ne￿ork Developm8nt Co-ordinator, NatSP8c's Quality lrnprovement L&8d and also provi(Jes qu81ty improvemenl o)nsuttancy seffvicAs speuah'st lurther education collegès. Mark Brlggs - Vsce Chalr, Chaif of the Remuneratlon Commlttee and ChaSr of Staff Councll Mark joineil the Board in 2019, has extensive experience in the public and cultural sectors, and has director level experience in business and ITansfomiation. Aon9 this. Mark is a former Paralymprdn with insight into sport, hea￿h and well-bemg. Peter Emer$on DL- Wice Chair and Chair ol Estates Planning Group Pelerjoined the Board in 2017. Peter retired as Chiel Operating Officer of Seveffidd PLC and Managing Director of Walson Steel in 2013. Retired November 2023 from beiThJ a consultant in the construction industry and from Laing O'Rourke Lnmited. Joanne Butler Joanne joined the Board in 2021. She is an autism eonsultanl working in educatiorb, workpkqces. and other youth and adult organisab.ons through her company SEND Supp)rt. Jo is the cwuthor of Is That Cleafi Effective Page 7

DopJwJn Envekjpe ID.. 7fy3350CW1E4EDE4014Q32AgJ304731 PORTLAND COLLEGE IA Company limitèd by guaranl•e) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 strncture. goveman¢e •nd management (¢ontinuedl Communication in a neUrC￿dNerse wodd. She was prevhjusly the Head teacher of an 8utism specialist sch¢)ol, and now offers speciali51 leaching ad￿￿ for Noth"nghamshire County C￿ncil. Helen Cooper BA(Honsl BSCIHons) Helen has been on the Board ol thè Royal Colkge of Occupational Therapists since 2019 and has been Invo￿ed in several ¢lini¢al r8views for the National Institute for Health Research. Over the years she has developèd a comprehensive Understanding of care best practices. regubtory compliance and risk management. Helen is a Director of Delphi Ltd providing expert consultancy. training and ad￿SOry services to the social care industry- David Dowbenko 8S¢lHonsl Msc David joined the Board in July 2023. He has over 30 years, experience of local govemment. across a nurnber of functions. Much of this has been in management roles a5SWated with change and modemisalion, including the provision of school transport for pupils wth special educat￿al needs and disabilities. David is involved with the Ukrainian Cultural Centre in Nottingham, where he is H&•J of the Audit Committee. He is also Chair Elect of the North Stsffordshire Community Rail Partnership. Sarnh Egley RGN BA(Hons) Health Care Practico & MAML. Management and Leadershlp., Lead Trustee for Saleguardlng Sarah joined Ihe Board in 2018. She is Assistant Director Quality Improvement. Innovation and Assurance for Derbyshire Community Heanh servi￿ NHS Trust. Sarah also has held the position of interim Deputy Chief Nurse in 2023. Sarah brings a Mde breadth of experience from operational nursing and leadership roles. within a variety of dinical services. Sarah. has taught in academic setb.ng as an Associate Le¢lu￿. She has wothed in acute and community settings as.well as SUp￿rting integration workstreams bringing se￿iCeS from health and social care together. Sarah leads on quality improvement, inTh)Vati￿ and assurance as well as ￿aling system resilience in local antl or9anisalional4mde developmenL Amanda Farr DL MS¢ (Oxon) Amanda joined the Board in 2018. She has worked in NHS rehabilitation mental health servi¢es for m051 of h8r career. latterly leading county primary care mentsl heanh services_ She ha5 a visiting lecturer al Nottingham and Oxford Universities. She is Co-owner of Sweeney ano Fatt Associates offergng mentsl health treatments and organisational well-being. Amanda is the Chair of Nottingham Playhouse BoaT(J and has 6Xtensive experience in the voluntary sector in the city and county of Nottinghamshire and is a fomer High Sheriff and Current Deputy Li¢utsnanl of the county. Professor D¢an Fath•rs DL- Chair of R•rnuneration Committee (Retired by rotation 23 April 2025) Dean joined the Board in 2017 wh8n he was Chair of NHS ULHT arKI Nottinghamshire Healthcare NHS Foundation Trust. He currently holds Non-Executive Board appointments with the Parliamentary and Health Services Ombudsman (where he is Chair of Ihe Quality Commtiteel and Ihe Academy for Health Care S¢ienc8 (where he is Chair of the Lile Sciences Steering Group). He is also a Trustee of the Charity Care After Cornbal. Chaif ol the Midlands Engine's Health Care and Life Science Board an¢J Independent Chair of auality Safety and Risk al Voyage Care. In addiknon. Dean hokls Honorary W￿rting Professor roles th the Universities of Nottingham and Lincdn. Oianne Jackson FCCA Chalr of Audrt Committ Dianne joined the Board in January 2023 and has been an extemal advisor to the OFG sin¢9 2019. Dianne is an experienced Financo Director wlh extensive knowledge and experience from working in the Education Sector for over 25 years. Dianne is a nonexecuts.ve director of a housing a5socialK)n and also Chair of Notts County Foundation who are the independent charitable arm of Nolts County Football Club. Stophn Ja¢k$on- FCMA GCMA- Chair of Ovor5ight of Finance Gr¢wp Stephen joined the Board in 2019. He is 8 commercially focused Executive with global experience and Chairs the Audit Committee. He has over 30 years board level experience at both Exe¢ulwe and NOn￿xecUtive level. June Murrayi Chair of Ovorslght of Stsndards Committee June joined the Board in November 2022 and has extensive experience working in specialist further education al RNIB College Loughborough {now known as Sense Colkge L￿roUghI for the past tsventy-nine years as Page 8

Do¢usvJn En¥eW ID. 70935oCC4F1E4EDE4014.932A￿O4n1 PQRTLAND COLLEGE {A ¢onyny Ilmitsd by guarante&) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 stru¢tur¢. governance and management {continued) both Assistant Principal and co1￿8 Principal. Councill¢r Hannah John- ¢Oopled tru$tee 23 July 2025 Councillor Hannah John was appointed as Nottinghamshi￿ County Council's representalive. She was elected as the County Councillor for B1￿h & Harworth Ward on 1 May 2025 and is also Ihè Cabinet Member for SEND. Whilst the Charity benefits from a very strong and Prfractive Board, the Govemors have been diligent in auditing the skill set of existsng members. develw'ng a formal succession plan based on anticipated retirement dales and reviewing the strategic direth'on of the Charty to ensu￿ that we relain that strength and can provide effective govemance of the wi¢Je and increasing range of actwities. This was complemented by an expert external review of Govemance undertaken by Natspec- the National Association for Specialtsi Cclleges. d. PolSGies adoptsd for th• induction and tralnlng of Trnstths All new proposed Twslee Appointments follow a full recruilment pro¢ess, including application and interview with College Principal, Chair ar￿ Govemor Panel ensuring commitment. skills and discovering any potential conflict ol interest. This is then followed by a structured induction programme with th8 Senior Managgmgnt team and ongoing training including safeguarding. . Financial risk management The Trustees have assessed the maj¢Y risks to which the Group and Ihe Company are exposed, in particular those related lo the operations and finances of the Group and Ihe Company. and a￿ satisfied that systems and pmcedures are in place to mitvJate exposure to the rnajor risks. f. Truslees. indemnities During the ye8r, the College purdTased Execirtive, Professional and Fidelity Liability Insvrance, which COVe￿d the Difectors and Officers of the College, al a cost of £9.114 {2024.. £9,114). In all case5, the insurance indemnifies the College against bsses incurred from wrongful acts that result in clairns by third parties. In addition. Ihg indiwdual Oirectors or Officers are covered under the Executive Liability insurance policy against personal loss, as a result of Claims made upon them for adions taken whi15t acting in their capacity as Directors or Officers of the College. g. Senior team r•muneratSon stat•m•nt and Senior post hold•rs within the remit of R•muneration This slalement is published by the Board of Trustees of Pclland College for Ihe financial year 2024-25, infomied by the Association of Colleges. Senior Postholder Remunerat*)n Code. Ro Principal & Chief Execulbve Officer Deputy Chief Executive Officer Principal Further Education Director of Care & Designated Safeguarding Lead Director of Finance & Compliance Assisianl Principal SchLY)Is Name Mark Dale E(1ward Johnstone Angela Newton-soanes Ike Onwukwe Dan￿1 Stanway Shaun Pdlafd (resigned April 20251 Pollcy on the remuneratlon of Sonlor post holdevs The Remuneration Committee seek5 to recruit, ￿taIn and reward Ihe best possible stsff lo deliver Ihe College's strategic objectives and effeclivety lead operations. The Committee uses exlemal benchmark infomialion, notably the Association of Colleges Senior Pay Su￿eY Report. and local labour market information lo agree appropriate levels. Al roles in the College are graded usiNJ an established market leader Syslem of job Page 9

Dow$wJn Env¢bw ID.. 70939JCC-6F1E4EOE-8014432A91304731 PORTLAND COLLEGE IA company limlted by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Stru¢ture. govemance and management {¢ontinuedl evaluation, Croner RewardThl The objectNe is lo implement equal pay for w(Kk of equal value. The Board of Trustees sets an Annual Cosl of Lmng rise on 1st Apn"l each year and the Remuneration Committee takes account ol the annual pay award when detemiining whether or not to apply a cost of living increase to senior post holders. The Cdlege does not have a perfrffmance related pay scheme. The College does have an exceptional performance bonus procedure, thich could be applied to a senior Post hokler on Ihe recommendation of her or his line mariager. Any recommendation woukl be subject to approval by the Remuneration Committee. Exceptional performance trxjnuses a￿ non-consolidated and non-pensionable. The College offers Iwo pension sthmes to empknyees: Teachers, Pension s￿￿Me for eligibS& employees and defined contributKJn scheme availatAe to any employee. Remuneration Committee approved a Cost of living award of 4.0% for senior posl-hoklers from 191 April 2025. Cost of livin9 rise for other slaff was in the range 5.0% to 6.73%. In 2024-25, no exceptional perfom)ance bonuses were paid to senior post4￿lderS. Pay multiple of the Principal & Ch￿f Execulive Offior in relakn to the lowest paid full-tim8 equivalent salary at the College.. Date 31st August 2025 Pay m￿￿PIe of the Principal & CEO 4.9315.27 in 2024) Lowest full-time equTvalent salary £22,306 Policy on in¢om• d•riv•d from •xt•rnal activiti Staff are supported to undertake extemal work in certain ciTeumstsn¢es. e.g. semee in Ihe Reserve Armed Forces, acting as an Ofsled or CQC Inspeclor or CQC Expert. consultancy projects that would develop the skills of the staff mèmb8r or enhance their knowledge and understanding in relation to their substantive role. Normally exlemal Work should not 8xceed 10 working days per annum. Special leave will be granted in approved circumstances. The staff member may retain any eamings from up to 10 days extemal work per annum. In 2024-25 no member of the SMT ha¢J rets*ied eamK¥Js from exiemal activity. h. Employment poll¢les It is the Group's policy lo have effective communicaliorb and consultation wth its staff. We have a voluntary recognition agreement wlh the Trade Unions Unison and NASUWT for all stsff. Under the terms of this agreement, and our Staff Council Conslilubon. we consult on a variety of issues affecting lem)s and conditions of ernp10￿ent. which are regularly discusset1. al least Ihree times per annum 31 Staff Council. We also communicate via performance management IWLS such as indi¥￿￿al performance ￿￿ewS and supervisions, Leadership forum. team briefings. staff Iraining days. frequent news bulletins. Principal's Comms and the Senior Management Team's erkgagernent meetings Mth groups ofstaff. ' The College is fully committed to Equality. Diversty and ￿ljs1o￿ {EDII aNJ publtshes its gender pay gap nnually. Portland College is an equal opportunities empwr and is actredited as a Disability Confident and Mindful Employer. abng being a member of the National Aub"skn"c Sooety. The College employed an average of 391 fUl￿tiMe equlva￿nt peoplè during the year. compared with 382 in 2023-24. Page 10

Docusign EnveW10.. 7093s￿c4FlE4EDE-￿I4-932A￿o473l PORTLANO COLLEGE (A company limited by guarantee) TRUSTEES. REPORT ICONnNUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Plans tor fvture periods The Board of GovernoTS has worked with the sen￿ Management Team to deveknp an ambitious 5-year plan, entilled A Lifetime of Opportunity which reflects the recent vision slatemenl adopted by the Charity in 2021. The plan went Ihrough an extensive period of stakeholder consultalion and engagernenl and the Oireclors are confident that the inveslmenl and development will resuli in in¢￿ased publ￿ benefit as defined through the Articles of Association. The plan anticipates that all current core programmes will also continue to op8ral8, serving an increased number of benef￿lar￿ during the plan period. The plan conLns swnthcanl amb￿"On$ to geographully extend the range and number of further and adult education opportunitses through the ¢Teab'on of hub site5 in Notttngham and a number of other towns. This will enable the Charity to benefit more individuals every year. folkjwing a period of SULtt5s1ul expansion in 2017.20. Buildin9 on the success of major refuthshment projects and the creation of the award-winning Woodland Adventure Zone, the Twstees are supporting substantial new investment during the plan perth.. Purchase of a community buitdiThJ in Nottingham as a sile for expansion of activth'es lor further education and Polly Teach {completed February 20241. Purchase of a second communty Site n Notiin&iam to tjevelop a further education hub for leamers wth complex support needs {completion in September 20251. Redevelopment of a communJ residential blc(* to 15 modem en suite rcty)ms with be5PDke communal areas for addibonal re￿￿ential students to meet higher demand (completed in June 20251. Redevelopment of a redundant accommodation block into Stxial housing for disabled people (project pending. awaiting further funding}. Redesign of the small animal farm and horticulture areas. The wrrent faalilies range be￿een 75 and 20 years dd and are all but lrfwxpired. Purposeful outdoor work remains a popular area for p8opl& wth Complex disabilities and also provides wder therapeubc and educational opportunits'es le.g. education for sustainabilty linked lo the United Nations sustainability goals). Further work Completed 2024-25. Investment in energy general￿n ar￿ lower carbon heats.ng technobgies to support an energy resilient campus (the refurbished residential block will be carbon negabve in use according to the electrical design calculations", all eleclriuty is pur¢hased from renewable generab'on sources). We wll continue to seek opwtunilies to open addit￿al hubs across the local area closer to the homes and work opportunitses fol C￿ZenS. We will also look to colkborate ¥wlh good quality organisations supporting disabled people. In 202&26 the ChaTty wll conlinue to operdte two public engagement programme5 to capitalise on the significant investment in new and refurbished facilities such as the WocKJland Adventure Zone and Newstart Theatre. These facilities will often be leL free of rent, lo education and community groups whose core purpose aligns with the Charitys own objects. There wll te olher programmes of public benefit, open to all. operated by Ihe College. Page11

Docuwgn Enveknpe ID". 7o9350cc4F1E-8EDE4￿ll￿#32kW20473l PORTLAMD COLLEGE (A ¢¢)mpany Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Engagement with employees and employment of the disab Employees have been consvlled on issue5 of ￿nCeM to them by means of regular consullative committee and staff meetings and have been kept infcKmed on specific matters directly by management. The Group and the Cornpany carry out exit Inte￿"eWS for all staff leaving Ihe organisation and have adopted a procedu￿ ol upward feedback for sen￿r management an¢J the Trustees. The Group have implemented a number of detailed polKies in ￿la110n to all aspects of personnel malters induding.. Equal opportunitses w)licy Volunleers, policy Health & safety policy In accordance the Group and the Companys equal OPF￿￿niI•eS FKJlicy. the Group and Ihe Company have long-estsblished fair employment praCtI￿S in the rewitrnenl. selection. retention and training of disabled staff. Full details of these policies are availabk from the Companys offices. statement of Trustees. responsibilities The Trustees (who are also the directots of the Company for Ihe purposes of cornpany18wI are responsib￿ for prepariThJ the Trustees. report in(4udin9 the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards IUnile(J Kingdom Generally Accepted AccoLJnling Practi￿). Company law requires th8 Tnjstees lo wepare finanoal statements for each finanual . Under cc*npany law. the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Group and the Company and of their incomTrng resources and application of resources, including their income arml expenditure. for that per1￿J. In preparing these financial stalemenls. the Tfuslees are required to.. select Sultsb￿ accounting policies and then ap￿ them conststently. observe the methcxys and princi￿eS of the Chariti'es SORP IFRS 1021" make judgments and accounting estimates that are ￿asonable and prudent., state whether ap￿ICable UK Accounting Stand3rd5 IFRS 1021 have been folbwed, subject to any material departures disd05ed and explained in the fin3naal ststements., prepare the financial stslements on the going concem basis unloss it is inappropnale lo presume that the Group will ¢ontinue in business. The Trustees are responsible for keeping adequate aCC￿nting records that are sufficient lo show and explain the Group and the Companls Irdnsactions and disdose wth reasoTrab￿ accuracy at any lime thè financial position of the Group and the Company and enab￿ them to ensure that the financial slalemenls comply with the Compantes Act 2006. They are also responsible for safeguarding Ihe assets of the Group and Ihe Company and hence lor taking ￿asonable steps for the p￿ventIOn and detection of fraud and other irregularilies. Page 12

Do¢uggn Env8b¥a ID. 70939)CC-6F1E4EOE-8074.932A9J304731 PORTLAND COLLEGE (A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Di$¢lo$ure of inforniatian to audilors Each of Ihe persons vtho are Trustees at Ihe time when this Trustees, reFrfXt is approved ha5 confirmed that.. so far as that Trust88 is aware. Ih8re is no rdevant audil infonnation of which the charitable group's auditors are unaware. and Ihat Trustee has taken all the steps that cMJght to have been taken as a Trustee in Order lo be aware of any relevant audit information and to establish that the charitabk group's a￿ltorS are awa￿ ol that information. Audltors The auditors. PKF Smith Cooper Audit Limrted. have indicated thwr willlngness to continue in Off￿e. The designated Trustees will propose a MOt￿n reappointirvJ the auditors al a meeting of the Trustees. Approved ty order of the members of the trf)ard of Trustees and signed on their behalf by. BE3DI41S5.. Dr D Green Chair of Trustees Date.. 131512026 Page 13

DocusKJn Envekjpe D.. ?0935￿¢$FlE4EDE￿￿14.g3M9j304nl PORTLAND COLLEGE IA company limlt•d by guarante•) INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF PORTLAND COLLEGE Opinion We have audit8d Ihe financaal slalements of Portland College {Ihe 'pa￿nt charilable compan￿) antl its subsidiaries (the 'group'l for the year ended 31 August 2025 which comprise the Con501idated statement of financial activities. the Consdidaled balance sheet, the Company balance sheet, the Consolidated Statement of cash Ilows and the related notes, incjuding a summary of signifTrcant accounting pdicie5. The financial reporting framework that has been appl￿ in Iheir preparation ss applicable law and Unf(ed Kingdom Accounting standards. including Finèn¢4al Repo￿.ng Stsndard 102 Yhe Finanual Reporting Standard applicable in the UK and Republic of Ireland. {United l<ingthm GeneraltyAccepted AcctyJntin9 Pradrcel. In our opinion the financial statements". give a true and fair wew ol the state of the Group's arKI of the parent charitable companls affairs as at 31 August 2025 ar￿ ol Ihe Group's incoming resources and application of resources. including ils inc(￿e and expenditure for the year then ended.. have been proPe￿Y prepared in accordance with United KIng￿)M Generally Aceepled Accountin9 Practice,. and h8ve been prepared in accordano vth the requirements of the compan￿ Act 2006. Basis for opinion We corKlu¢ted our autht in a¢￿Idance wilh Intemational Stsndards on Audibng (UK) IISAS {UKI) and applicable law. Our responsibilit￿5 under those standards are lurther described in the Auditors, responsibilities for the audit of the financial statements section of OUT report. We are independent of the Group in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Finanual Reporting Counal's ElhKal Standard. and ￿ have fvlfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate lo wovide a basis for our op￿K)n. Con¢luslons relating lo going concern In auditirvj the financial slalernenls. we have conduded that the Trustee5' use of the g￿n9 concem basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed. ￿ have not identsfied any material urTr¢ertainties relating to events or conditions that. indiwdually Of collectively, may cast signrficant doubt on the Group's or the parent charrtablo compan￿$ ability to continue as a gorThJ ¢￿1¢eM for a peiicé of atlgast N¥elve months from when the fjnancial statements are aulhorised for issue. Our responsibilitie5 and the ￿sponsibl￿ti.es of the Trustees wAlh respect lo going cOn￿M are described in the relevant sections of this report. Page 14

Dcojsyn en¥ek)pe10.. 709350CC4F1E4EOE4014-932Ag)W1731 PORTLAND COLLEGE (A company limited by guarantee) INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF PORTLANO COLLEGE ICONTINUED} Other inforniation The other information comprises the rformation indut1ed Trn Ihe Annual reptNt other than the financial ststements and cyJr Auditors. report ther￿n. The Trustees a￿ responsible for the other informatKJn contained within the Annual report. Our opinion on Ihe finanaal statements does not o)ver the other infomalion and, except to the extent otheThwse explicitly stated in our ￿pOrt. we do not express any form of assurance conclusion thereon. Our sponsibility is lo read the other infom)atson and, in doirrfj so. consTrder vthether the other infomialion is materially inconsistent wrth the ffinanoal ststements or our knowledge obtained in the course of Ihe audit, or othemise 8ppeaTS to be materially misststed. If we thntify such material inconsistencies or apparent material misststemenls, we are required lo determine whelher this gives rise lo a malerial misstatement in the financial statements theMse￿eS. If. based on the work have perfomied, we condude that there is a material misstatement of this other information, we are rewired to rewrt that fact. We have nothing to report in this regard. Oplnlon on other matters pres¢Tlbed by the C<knpanles A¢t 21x16 In our opinion. based on the work undertaken in the course of Ihg aud￿. the information given in the Truslees. report induding Ihe Strategic report for the financial year for which the financial statements are prepared is consislenl with the financral ststemenl5. the Truslees. report and the SlrategK rew1 have been prepa￿d in accordance with applicable legal requirements. Matters on whlch w• ar• required to r•port by excepti¢)n In the light of our knovAedge and undeTStarKling of the tharrtable ¢))mpany and its environment obtained in the course of the audit. we have not idenlified material misstatements in Ihe Tru51ees' rew)rt including the Strategic report. We have nothing lo report in respect of the f￿loW1n9 matters in relation to Companies Act 2006 requires us to report to you if, in our Opin￿n.. the parent charstable c¥)mpany has not kept adequate an(1 suffi¢ienl 8ccounling reci)rds, or relurns adequate for our audit have not been received from branches not visiled by us., or the parent charitatAe company finan¢ial ststements are not in agreement with the accounting records and relums". or certain ¢Yisdosufes of Trustees. remuneratK)n specified by law are not made; or we have not re¢eNed all Ihe infom)atK)n and explanations we reguire for our audr(. Responsib•liti•s of trustees As ex￿lIned more fully in the Trustees, responsibilities ststen￿t. the Trustees (who are 8fso the directors of the charitable company for the purposes of company lawl a￿ ￿spOnSible for the preparation of the financial statements and for ￿Ing satssfied that they give a true and fair view. and for such irbtemal control as the Trustees determine is necessary lo enable the preparalK*n of financk41 statements Ihat a￿ free from material mtsstalement. whether due to fraud or error. In preparing the financial slalements. the Trustee5 are reS￿nsIble for assessing the Group's and th.e parent charitsble compan￿5 ability to continue as a going concem. disdosing. as appluble, matters related to going concern and using the g(Mng concem basis of accounting unless the Trustees either intend lo liquidate the Group or Ihe parent charitable company or to cease operations. or have no reali%lic allemalive bul to do so. Page 15

Dacu5ign emfetrJpe10.. 709350cc￿FIE4E0E4OI4￿32A9)3O473I PORTLAND COLLEGE (A company Ilmfted by guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PORTLAND COLLEGE (CONTINUED) Auditors. responslblllties for the audOI of thè finan¢i•l ststements Our objectives are lo obtain ￿aSOnable assurance aL￿t whether the financial ststements as a Ithole are free from material misststement, whether (Jue lo fraud or error. and lo issue an Auditors, report that includes our opinion. Reasonable assurance 15 a high level of assurance. but is r￿1 a guarantee that an audit conducted in accordan￿ with ISAS IUKI will a￿va￿ detect a material misstatement when il exists. Misslalemenls can arise from Irau¢J or eiror and are ￿nSidered material if. indivKlualty or in the aggregate. they could reasonably be expecteil to influence Ihe economic decisions of users taken on the basis of these financial siatemenls. I￿gularitieS, including fraud. are instan¢es of non-compliance with laws and regulations. We design procedures in line with our responsitMlitie5, Outlined above, to detect mateftal misstatements in respect of irregularities. induding fraL￿. The extent to whth our W￿¢￿￿re5 are capable of detecting irregularities. including fraud is detailed below.. Based on our understanding ol the Group 8T￿ industy. we identify the key laws and regulations affecting the Group. We identif￿d Ihat the principal risk of fraud or non Complian￿ wth laws and regulations related lo.. management ￿85 in respect of accounting estimates and judgements made,. management override ol control,. posting of unusual joumals or transacti(￿$. We focused on those areas that could give rise to a material mi5Statement w) the Group financial slalemenls. Our procedures induded. but were not limited to: Enquiry of management and those tharged govemance around actual arKI potential litigation and Claims. including instances of rhon-c0mp1ian￿ ￿ laws aNJ regulations and fraud,. Reviewng minutes of meetings of those ¢harged with govemance where available. Reviewing ￿931 expenditure in the ￿ar to Klenbfy instsnces of nO￿CC￿nP1lance with laws and regulat￿n$ and fraud- Reviewing financial slatemenl disdosures and tesling lo supporting dowmentation to assess Kimpliance wrth applicable laws and regulalions- Performing audit work over the risk of management oveffide of controls. induding testing of journal entries and other adjustments for appropriateness. evaluating the bu5ines5 rationale of 5ignfficanl transactions outside the normal course of business an¢J ￿VIeWIng accountirKJ estimates for bias. It is the primary responsibility of managemerbl, with the oversight ol those charggd wilh govemance. lo ensure that the entitys operatsons are conducted in ac￿rdanCe with Ihe provisions of laws and ￿gUlatiOnS and for the prevenb.on and detect￿ of fraud. Because ol the inherent limitation5 of an audit Ihere is a risk Ihal we wll not delect all Irregularil￿$, including those leading lo a material misstatement in the financial statements or non-compliance wth regulation. This risk increases the more that compliance with a or regulation is feTh￿ed from the events and transactions reflected in the finanaal slalements, as we will be less likety to become awa￿ of instances of non-compliance. The risk is also greater regarding ir￿u[antieS occurring due to fraud rather than orror, as fraud inVo￿e$ intentional Concealment. forgery. collusion. omission or misrepresentation. A further description ol our responsibilities for the audrt of the financial statements is located on the Financial Reporting Councifs website at.. www.frc. .uklauditorsre nsibilities. This description forms part of our Auditors. report. Page 16

Do¢uskJn ￿￿e￿pe ID.. 70935OCC*F7E4EDE4014-932A9￿731 PORTLAND COLLEGE {A ¢ompany limit•d by guarants•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PORTLAND CQLLEGE ICONTINUED Usè of our report This report is made solely lo the charitable co￿all￿$ members, a$ a bchly. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Oui audit wotk has been undertaken so Ihat we might slate to the charitable companls members those matters we are required 10 Stale to them in an Audilor5' report and for no other purpose. To the fullest exlenl pemiitted by law. we do not accept or assume responsibility lo anyone other than the charitsble company and its membws, as a bcwjy. for our audit work. for this re[￿. or for the opinion$ we have formed. Swdby.. SFtÈFIAS1411464.. Julie Stringer {Senior Stat￿Ory auditor) for and on behalf of PKF Smittt Cooper Audit Limit•d Statutory ALKlitors 2 La￿ Market Square Nottingham NG1 1P8 Dale." 131512026 Page 17

Docusign Envebw ID.. 709350CC4F1E4EDE-8014-932AgJ304731 PORTLAND COLLEGE (A ¢omp•rty limlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND ExPEND￿VRE ACCOUNT) FOR THE YEAR ENOED 31 AUGUST2025 R•stricted Unrestri¢t•d funds funds 2025 2025 Total funds 2025 £000 Total runds 2024 £000 Note In¢ome from: Donations and legacies CharitaNe activities Other Ira¢Jing actiwties Inveslments 752 128 19.456 2.491 127 880 19.456 2.491 127 1, 140 17.241 2,434 97 Total in¢ome 752 22.202 22.954 20.912 Expenditur• on: Raising funds Charitable activitiès 170 17,731 2.085 170 165 16,386 1,914 651 18.382 2.085 Other trnding activities Total ¢xpenditur• 651 19.986 20,637 78,465 Net incorne before taxation 2.216 {17) 2.317 {17) 2.447 TaxalK)n Net movement In fvnds before oth8r recognlsed gainslllosses) 101 2.199 2,300 2,447 Othei recogni5ed gainsJ(los$•s)." Actuarial gains on defined benefit pension schemes Pension surplu5 not recognised 28 28 183 1353) 183 178 f360J {3531 N•1 movement in funds 2,029 2.130 2.265 Reconclllation of fvnd$: Total funds brought fomard Nel movement in funds 1.015 14.719 2,029 15,734 2,130 13.469 2.265 Total fvnds carrl•d foThvard 1.116 16,748 17.864 15.734 The Consolidated stalefflent of finanual activitres indudes all garns arKI losses recogntsed in the year. The notes on pages 24 to 52 form part of these financial statements. Page 18

Docu$wJn Envebpe10'. 709350CC4F1E4EDE4)14-932A91304731 PORTLAND COLLEGE IA company limited by guarantee) REGISTERED NUMBER: 00408340 CONSOLIDATEO BALANCE SHEET AS AT 31 AUGUST 2025 2025 £000 2024 £000 Fixed assets Intangible assets Tangible assets 14 356 17,307 15 13,137 13341 11.663 Current a$sets Stock5 Debtors Inv8Stments 17 20 2.198 18 19 250 Cash at bank and in hand 4.359 3.950 6.210 6,168 Currnnt liabiliti Creditors.. ar￿Unts fallbng due within one year (1.764) (2.097) Net ¢urrent assets 4.071 Total assets les$ current liabilities 17.887 15,734 Deferred tsx 21 (22) Net assets excluding penslon ass•t Defined benefit pension scherne assel 17,865 15,734 28 Total n•t a$$•ts 17.86S 15. 734 Charlty funds Restricted lunds Unreslricled lunds 1.116 1,015 Designated funds General funds 75Q 15.999 22 13. 719 Total unrestricted funds 16.749 14,719 Totsl funds 17.865 15.734 Page 19

Dvcu5b3n En¥eb)pe ID.. 7￿￿ce4F1É4EOe-6O14-93?A￿)a04?3l PORTLAND COLLEGE IA company Ilmbted by guarantee) REGISTERED NUMBER: 00408340 CONSOUDATED BALANCE SHEET {CONTINUED) AS AT 31 AUGUST 2025 The Tnjstees aCkn￿edge their responsibilities for c(xnth'ro with the requirements of the Act with respect to accounting records &)d preparation of finanoal statements. The financial stslemenls ￿re approved and authorised for issue by the Trustees and signed on their behalf by.. tdby.. OrD Green Chair of Trustees Dale.. 131512026 Th6 notes on pages 24 10 $2 form part of these financkql ststemgnts. Page 20

Docv5ign EnvdLW810.. 709350cc￿FlE4FDE4o14432A9J304?3l PORTLAND COLLEGE (A company Ilmtted by guarantee) REGISTERED NUMBER: 00408340 COMPANY BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 £000 Fixed assets Tangible assets Investments 15 16 12.976 450 11.122 450 13.426 11,572 Current ass•ts Stocks Debtors Investments Cash al bank and in hand 17 18 19 26 1.79S 250 12 1.983 4,100 3.514 6,171 Current liabilities Creditors.. amwnts falling due wthin one year (1.6331 (1,627) Net current assets 3.882 Total assets less current liabilities 17.964 15,454 Defined benefit pension scheme asset 28 Total n•t assats 17.964 15,454 Charity funds Reslricled funds Unrestricted furKIs 1.048 Designated funds General funds 750 16.098 13.406 22 22 Totsl unrestricted funds Total funds 16.848 14.406 17,964 75.454 Page 21

Docusww Envew ID.. 709350CW1E4EDE40I4￿32Ag)￿l?3l PORTLAND COLLEGE IA company limiied by guarantee) REGISTERED NUMBER: I)0408340 COMPANY BALANCE SHEET {CONTINUEDI AS AT 31 AUGUST 2025 The Trustees ad(nowledge their responsibilities for ￿mplYing wth the rgquiremenls of th8 Act with respect to accounting ￿e0rd$ and preparation of financial ststemenis. The financi81 statements We￿ apKoved and aLjih￿sed for issue by the Trustees and signed on their behaw by.. Sned*. Dr D Green Chair of Tnjstees Dale.'1315120 The notes on pag8s 24 to 52 form part of these financial statements. Page 22

Docu81gn ÈnvEk)pe10. 70935(￿c￿F1E￿EDE-8o14￿3?A9))M73l PORTLAND COLLEGE IA ¢ompany Ilmited by guarantw) CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 £000 2024 £000 Cash flows from opgrallng actlvities Nel cash use(14n operaling actNitss (Note 25) 3.113 3.286 Cash flows from investing a¢llvltOes Dividends, interests and rents from investments Purchase of tangible fixed assets 76 63 (3,022) {2,8931 Net Cash u￿d In Invastlng activities (2.8171 {2,9591 Cash flows from financing a¢ti¥ilie$ Cash outtlow on acquisition of subsi¢Jiary (53) Net cash provided byllused in) ffinanclng a¢tlvltl•$ 153) Change In cash and cash equlvalents in the year Cash and cash equivalents at the bwnnirvJ of the Jear (Note 26) 274 3.950 3.616 Cash and cash equivalents at the end of the year 4,246 3.950 The notes on pages 24 to 52 fcrfm part of these finan(ial State￿￿ntS Page 23

Docu$vJn Envebpe ID.. 7093XtC-6FIE4ECE-801I432A90304731 PORTLAND COLLEGE (A company limit•d by guaranta•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General InfOrn￿tIOn The College is a private company limited by guaranteè and without share capitsl and registered charity. incorporated in the Uniled Kingdom. The Cd's regtstered adress 1$ Nottingham Road. Mansfield. Nottinghamshire. NG18 4TJ. The financial slalemenls are prepared in Steding which is the functional currency of the College and are rounded to the nearest £1.000. The significant accounting pdrcies in the preparation of these fin￿1￿1 slalements are set out below. These Pol￿e5 have been consislenlly ied lo all years presented unless otherwise staled. Accounting policies 2.1 Basis of preparati¢)n of financlal statements The financial statements have been prepared in accordan￿ wilh the Charrties SORP IFRS 1021- Accounting and Reporting by charit￿.. Statement of Recommended practi￿ applicable lo charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in Ihe UK and Republ￿ of Ireland (FRS 102) and the Companie5 A¢1 2006. Portland College meets the definilion of a public benefit entity under FRS 102. Assets and liabilities a￿ inib'ally recognised at historical ¢ost or transaction value unless othe￿ise Stsled in the relevant accounting pcAicy. The Consdidated statement of ffinancial a¢tivitss (SOFA) and Consoh'dated balance sheet ¢onsolidale the finanoal statements of the Company ar￿ its subwdiary undèrtakings. Thg result$ of the subsidiaries a￿ consolidale<l on a line by line basis. 2.2 Going ￿nCern The gioup financial statements have been prepaTed on a ￿Ing concem basis under the historical cost convenlion. modified lo incorporate the incluS￿n of Fixed Asset Investments al fair value. The financial stalements have been prepared on a wng concern basis as the Trustees believe that no material uncertainlies exist. The Trustees have considered the revel of funds held and the expected level ol income and expenditu￿ for 12 months from authorising these firbancial statements. The budgeted income and expenditu￿ is suffiaent with the level of reserves for the Group to be able to contsnue as a going coni*m. 2.3 Basis of consolidation The financial statements eonsolidate Ihe actounts of Portland College and all of ils subsidiary undertaknn9S. The company has taken advantsge of the exempl￿ under SeCt￿ft 408 of the Companies Act 2006 and has nol presented rts own Statement of Finanual Activities in these financial statements. The Charity has generated a su￿￿$ for Ihe year of £2.510k12024.' £2.221kl. P4e 24

Uocusign E¢wekpe10." 7093XtC-&¥1E4eoE4014-932A>)304731 PORTLAND COLLEGE (A company Ilmlt•d by guarant••) NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policie$ Icontlnuedl 2.4 Buslness c¢)mblnatlons and 9(￿d￿lI1 Business cvmbinalion5 are accounted for by apP￿ng the purchase meththy. with goodwill recognised if the exces5 of the fair value and directly attributab￿ costs of the purchase consideration is over the fair value of the group's inleresl tn the identtfiable net assets, Ikqbilities and contingent liabilities acquired. GoodMII is amortised over its useful lrfe. which is estimated lo be 10 years. Gcojwill 15 assessed for impairment annualty. When there are indicators of impairment this is charged to the Profit and loss in the peri(Ml. 2.5 Income All in￿rne is reeL¥Jnised once thè Company has enlillement to the income, it is probable that the income be received aNI the amount of ThK￿ne re￿1¥able can be measured reliably. Grants a￿ included in the Consolidated statement of finanual activibes on a receNable basis. The balance of incorne re￿iVed for spe¢ific purposes bul not expended during the period is shown in the relevant funds on the Balan￿ sheet. Where incorne is received in advance of enliuèment of receipt, its recognition is delerred an¢J included in creditors as deferred income. Where entitlement occurs before incorne is received, the income is accrued. Where the donated good Is a fixed asset. il is measured al fair value. unless il is impractical lo measure this r81iably. in %thich case Ihe cost of the rtem to the donor shouhl be used. The gain 15 recognised as income from donations and a corresponding arnounl is induded in the appropriate fixed asset class and depreciated over the useful economic life in accordan￿ wth the Company5 accounting pol￿19$. On receipl, donaled professional services and faolities are recognised on the basis of the value of the gift to the Company which 15 the amount it would have been willing to pay to obtain semces or facilities of equiva￿￿t e￿nOmiC benefit on the open market.. a Cor￿SpOndIng amount is then recognised in expenditure in the per￿￿ of receipt. Income tsx recoverable in relation lo donalions received under Grfl Aid or degds of covenant is recognised al the lime of the donalw. Income tsx recoverable in rdation to investment inc¢)me is ￿¢09niSed at the time the investment incomg is re￿1Vable. Income from tratling actrvities includes inwne eamed from fundraising events and trading adivities lo raise funds for the Group. Income is re￿VIed in exchange for the supplyiry goods and services in order to raise funds and is re¢ogni5ed when entitkment has occurred. The Group recognises govemmenl grants from the Department for EducatK)n IDfEI. Income from government and other grants is recognised al fair value when the Group has enlrtlemenl after any Performan￿ conditions have been mel. il is probable that the income will be received and the amount can be me8SLJred rdiably. If entillement 1$ not met Ihen Ih8s8 aounts are dgfgrred. Page 25

DocusKJn Envgbpe ID.. 709350CC-6F1E4EDE-8014-932A9)304731 PORTLAND COLLEGE (A ¢ompany Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policles (continu 16 Expenditure Expenditufe is fecognised once there is a legal or cfjnstructive oblNJation lo transfer economic benefit lo a third paty, it is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of d1￿ct costs and shared costs. inclLtding support costs involved in undertaking each activty. Direct cosis atth'butable to a single activity are allocated directly lo that activity. Shared costs whi¢h ￿ntrIbute to MO￿ than ore a¢tivity and support ¢osls which are not attributsble to a single aGliwty are apporti¢)ned between those activilies on a basis ￿nsiStenI wilh the use of resources_ Central stsff Costs are alkxated on the basis of time spent, and depreciation charges allocate(l on the portion of the asset's use. Expendituie on raising funds includes au expenditure incurred by the Gr(HJp lo raise funds for its charitable purposes and includes costs of 811 fundraising aclivitie5 events and non-charitable trading. Expenditure on charitable activities 15 incurred on directy undertaking the activitses which further the Group's obiects'ves. as wdl as any associated SUPF(¥t costs. Olher expenditure represents those items not falling into the categories above. l expenditure is inthsive of irrecoverable VAT. 2.7 Intere$t re¢eivabl• Interest on fvnds held on deposit is induded when rece5vable and the amount can be measured reliably by the Group- thks is nomialty upon notification of the interest paid or payable by th8 institution th v￿￿rn Ihe funds are de￿)srt8d. 2.8 Taxation The Company is eonsidered to pass the tests sel out in Paragraph 1 Sd)edule 6 of the Finance Act 2010 and therefore it meets the definrtion of a cb8ftta￿e company for UK corporation lax purposes. Accordingly. the Company is FQtentially exempl from taXat￿n in respect of income or capital gains re￿iVed wthin calegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Seth"on 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or 9ains are applie¢J exdusively to charitable purposes. 2.9 Intanglble assels and amortisatlon Intangible assets are In￿allY recognised al cost. After re(wnilion, under the cost model, intangible assets are measured al cost les5 any accumulated amortisalion and any accumulated impairment losses. Amortisation is provided on inlangible assets at rates calculaled lo write off the cost of each asset on a slraoht-line basis over its expected useful lrfe. Amortisation is provided M the folknwirg bas8s: Computer sothre Gcrf)dwlS 33 % straight line 10 *IA strai9hl line Page 26

Doc￿$19￿ Enveb)pe10." 709350CC*F1E4EDE-8014-932Ag)304n1 PORTLAND COLLEGE {A company limited by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ounting pollcles Icontinuedl 2.10 Tangible fixed assets and depr¢ciati¢)n Tangible fixed assets costing £500 or more are capitalised and recognised when future eCor￿Mic benefits are probabje and the cost or value of the asset can be measured reliably. Tangible fixed assets are inibatly recogntsed at cost. After ￿¢09n[tion. under the cost model, tangible fixed assets are measu￿￿ at cost less accumulated depre¢iation and any accumulated impairment losse$. All costs incurred to bring a tsnglble fixed as5el into its intended working condition should be included in the measurement of cost. Assets in the course of construction are includad at costs incurred to dale. Depreciation on these assets is not charged unts"I they are brought into use. Depreeiab'on is charged so as to al￿￿ate the eosl of tanoible fixed awts less their residual value over their estimated useful INes. using the straight4ine method. Depreciation is provided on the foll0v￿ng base5.' Freehold property 10-40 years Motor vehicles - S years Fixtures, fittings arKI equipment - 3- 7 years Note that fre8hold property also inclthles the cost of tw￿dIng impr¢)vements and refurbishment projects. Th8 lif8 expectancy of each building is assessed individualty. The assets, re$￿Ual values. usefvle lives aThJ depreciation methods are reviewed. and adjusted prospectively rf appropriate. or rf there is an indication of a significant ch8rye since the last repoth'ng date. Gains and losses on disposals a￿ detemiined by comparing the proceeds with the carrying amount and are recognised in the Consolidated ststÈment of finanrial acts'wlies. 2.11 Investments Investments in sUbS￿laneS a￿ valued at cost less provtsion for impairment. Current asset investments a￿ medium-tem h￿hty liquid investments and are held at fair value. These indude cash on deposit and cash equivalents wth a maturity of more than three months and less than one year. 2.12 Stocks Stcxks are valued at Ihe lower of ¢osl and net realisable value after making due allowance for obsolete and 51ow-moving stocks. Cost includes all direct cosls and an appropriate proportion of fixed and variable OVert￿a￿S. 2.13 D•btors Trade and other debtors are recconiset1 al the settkment amount after any trade discount offered. PrepayThenls are valued al the amount prepaKI nel of any trade d￿cOUnt$ due. 2.14 Cash at bank and In hand Cash al bank and in hand indudes cash and short-term highly liquid investments with a short maturity of three months or less from the date of aCquisit￿n or opening ol the deposit or similar account. Page 27

Docusryn env6knp8 ID.. 7o9350c￿F1E4EDE￿14.g32A9J3O1F31 PORTLAND COLLEGE (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Ac¢ounting policies I￿ntInUed) 2.15 Liabllltles Liabilrties and prowsions are recognrsed when there is an oblKJation at the Balance sheet date as a resuA of a past event. it is probable thal a transfer of economic benefft wll be required in settlement. and the amount of the setllement can be estimated reh"ably. Liabilities are ￿CogniSed at the amount that the Company antiapales it wll pay lo sett'le the debt or the amount il hès received as advanced payments for the goods or services il must provide. 2.16 D•f•rred taxatlon Full provision is made for deferred tax assets an¢J liabilities arising from all liming differences etween the recognition of ￿n$ and losses in the financial slalements and recognition in the tax computation. A net deferred tax asset is recognised only rf it can be regarded a5 more likety than not that there will be suitable taxabk suWuses from which the fvlure reversal of Ihe underfwThJ timing difference5 can be dedu¢ied. Deferred lax assets and liabiliftes are calculated at the rates expected to be effective at the lime the timrng differences are expected to reverse. 2.17 Financial inSt￿ments The Group only has financial assets and financial h"abilth"es of a kind that qualify as baslc financlal inslrumenls. Basic financial instruments are initially recognised at transath.on value and subsequently measured at their sethemenl vahje. 2.18 Operating ￿a5¢S Rentals paHJ under operating leases are charged to the Consolidaled stslement of finanaal aclivilies on a slraighl-line basis over the lease tenn. Page 28

OocusHJn E￿e￿pe1D.. 709350CC*FIE-8EDE-801VJ32AgJ304731 PORTLAND COLLEGE {A company limited by guarantee NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ountlng pollci•s Icontinuedl 2.19 Penslon$ The Group operates a defined contribU￿n pension scheme for the benefrt of ils employees. The pension charge represents the anounts payable by the Group lo the scheme in respect of the year. The Group. also prowdes retirement benefits to certain empk)yees through the Teachers. Pension Scheme I'TPS'I, which is a defined benefit scheme. The TPS is an unfuntled scheme and contributions are calculated so as to spread the cost of pensions over employees. working lives wth the charitable Company in such a way that the pension cost is a substantially level percentage of current and fLrtUTe pensionable payroll. The contributions are determined by the Governmnt Actuary on the basis of quadrennial valuations using a prospecttve unit credit method. TPS is an unfunded mults"-employer scheme with no undertying assets to assign between employers. Consequently. the TPS is treated as a defined ￿ntribUtIOn scheme for accounting purpw)ses and the contributions recognised in the period lo which they relate. The GrOl￿ ￿s0 operates a defined benefft scheme for the benefil of certain of its emplO￿e$. This scheme was dosed lo new members ￿th effecl from 1 January 1997. Where Group obligations exceed scheme assets. a Irability for the Group's obligations under the scheme is recognised net of scheme assets. Where scheme assets ex￿ed the Group's obligations. the asset value is reslficled and the surplus is not ￿cognISed. The net change in the net defined benefit assev liability is recognised as the c05t of the defined benefit scheme during the period and 15 chaTgetl lo Cost adings. on a pro rats basis based on fvll lime equivalent employees. and actuarial gainsl h)sses. The totsl cost is recognised in unreslricte(J fvnds. The pension scheme assets are measured al fair value and the defined benefft obl￿allOn is meaSU￿d on an actuarial basis using the projected unil method. Actuarial valuations are obtained at least tn"ennially an¢J are updated al each tsalar￿8 sheet date. Details of the Group's defined benefft scheme are sl)own in note 28. Actuarial gains arKJ k)sses are recognise(l immedialety in other recogni5ed gains and1055es. 2.20 Fund ac¢ounting General fLtnds are unrestricle(I funds which are avaikble for use al the discrelK)n of the Tnjslees in fvrtherance of the gen￿￿ objectives of the Group and Ithich have nol been designated for other purposes. Designated fund5 comprise unrestrictgd funds Ihat have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Reslri¢ted funds are funds whth are to be used in accordance wrth specific reslficb.ons imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the speafic fuTrl. The aim and use of each restricted lund is sel out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Page 29

Docuswn Envew D.. 70935￿C￿FIE￿EDE4Ol4432A9)3o473l PORTLAND COLLEGE {A ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 Critical accountin9 e5timats$ and areas of judgment Ests'mates and judgments are continualty evalualed and are based on historical expenence and other facto￿. including expectations of future events that are belved to be reasonable under the circumstances. Critical accounting estimates and assumptions- The Group makes estimates and assumptions concemmg the future. The resulting accounting estimates and assurnptions will. by definrtion. seldom equal the ￿lated actual resu115. The eslimales and assumptions that have a signfficant risk of causing a malerial adjus1￿￿￿1 lo the caryng atrwjunts of assets and lsabilities Iwthin the ne￿ financial year are discussed below. The present value of the Local Govemment Pension Scheme defined benefit liabllity ijepends on a number of factors that are detem)ined on an actuarial basis using a variety of assumptions. The assumptions used in deterniining the net cost or incom8 for pensions include th& discount rate. Any changes in these assumptions. which are disdosed in tK)te 28. will impact the (xrrying arnounl of the pension liability. Furthemiore a roll forward approach whTr(4) projects results ffom the latesl lull acluarial valuation performe¢J at 31 December 2021 has been use¢J by the aduary in valuing the pension scheme at 31 Augu512025. Any drfferences belween the figures derived from the roll forward approach and a full actuarial valuation wouhj impact Ihe ¢aNwng amount of the penwon stheme. Criti￿1 weas Of1￿￿gement. As a result of the current market conditions factor8d inlo the assumptions appl￿ by the LGPS schamo actuary, the actuarial valuation at the yearend has resulied in a surplus position as at 31 August 2025. The r8cognition of a surplus should only be mad& to the exlent that an employer can expect to secu lulure economic benefrt from it, either by pawng a reduced rate of Contributions or taking a refund. Management have assessed both ￿nSIderationS an(J concluded the following.. Based on historic piactices and estimations for future contribution rates, management do not consider there to be a reasonable expeclation that Ihere will be a position where the Current cost of a￿r￿al will exceed the minimum funding requirement (primary contributions). The availabilty of any potential cash refund On￿ all liabilities have been paid is based on several unpredictable future outcome5 set out in the 5Gheme rules that ¢annol be reasonably assumed al this stage. As a result. managemenl consider there lo be a very Icmt wssibility of a cash refund. As a resuA of the 8iYJve and Lknng ac(x)unt of the pen￿0￿ stheme aCtua￿S asset rEiling calculations, the closing surplus balance has been restricted lo a value of "nil" with the derecognition adjuslmenl shown as 'olher recognised gainsnosses" in the Statement of Financial Activities. Page 30

D¢cus¥Jn EAvelope ID.. 70935OCC*F1E4EDE-8014-932AgJ304731 PORTLAND COLLEGE IA company limited by gu•rnntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from donations and ￿9a¢19S Restrl¢ted Unrn$trlcted lunds fvnds 2025 2025 £000 £000 Total fund$ 2025 £000 Total fvnds 2024 £000 Donations Grants 498 128 626 931 254 209 752 128 1, 140 Total 2024 1.113 27 1. 140 Income frorn Gharitable activities Vnr•stri¢ted funds 2025 £000 Totsl funds 2025 £000 Total funds 2024 £000 Educational fees 12.349 6.923 12,349 6.923 9.647 7.426 168 Residential fees Olher fees 19.456 19.4S6 17,241 Total 2024 1T.241 IT.241 Page 31

Docusw Env8Ky ID.. 709350CC4FIE4EDE4014-932A90304731 PORTLAND COLLEGE (A Company Ilmited by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from other trading acllvltles Income from non ¢harltabl• trading a¢tivltlos Unrestricted funds 2025 £000 Total fvnds 2025 £000 Total funds 2024 Other trading income Polly Teach Limited JumpslartAP Limited 328 328 333 2,088 13 1,806 357 1.806 357 2.491 2,491 2,434 Tolal 2024 2,434 2.434 Investment incom• Unrestricted funds 2025 Total funds 2025 £000 Total fijnds 2024 £000 Interest on cash deposits Nel pension interest income 76 51 76 51 127 127 97 Total 2024 97 97 Page 32

Dow9n &vety)pe ID". 7093%)CC*F1E4EOE•)14-932Ag)304731 PORTLAND COLLEGE {A c¢)mpany limited by guarant￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Anatysis of &xpendlture on ¢harltable actlvltlès Surnmary by fund typg Restrlcted Unr¢$tricted funds fvnds 2025 2025 £000 £000 Total 2025 Tofal 2024 £000 Care and support Administraknve costs EdUcat￿nal costs 370 27 8.730 209 9.443 8,24T 190 7,949 182 9,189 651 17,731 18.382 16,386 Total 2024 524 15,862 16,386 Expenditure on other trading aclivilies Total fund$ 2025 £000 Total lunds 2024 funds 2025 Other trading costs Amortisalion Other trading- salaries Other trading- Nl Other trading- pension costs 357 58 1.659 164 40 1.659 164 1.355 117 2,085 2,085 1.914 Tot812024 1,914 1.914 Page 33

Oocuswn Envew ID.. 70935OCC4F1E4EDEQ4J14.932AgJ304731 PORTLAND COLLEGE {A company Ilmlted by guarant•o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202S 10. Analysis of expenditure by a¢tivitles Actmtks undertaken directly 2025 £000 Support costs 2025 £1￿0 Total funds 2025 £000 Total funds 2024 £000 Care & 5UPPOrt Administrative expenses Education 6.073 8.731 209 9.442 8.247 190 7.949 209 3.282 6.160 12.233 6,149 18.382 16.386 Total 2024 10,329 6.057 76,386 atysls of support costs Care & Admlnlstrativo Support expenses 2025 Total funds 2025 £000 Tot81 funds 2024 £000 Education 2025 £000 2025 £000 Stsff costs DepreCiat￿rt Leamer support 75 1.351 453 2.510 910 2.47T 968 379 78 1.195 1,478 2.729 2,612 2.658 209 3.282 6,149 6,057 Total 2024 2.502 190 3.365 6.057 11, Audltors. remuneration 2025 £000 2024 Fees payablè to the &oup's auditor for the audit ofthe Group's annual accounts 32 Fees payable to the COmpan￿S audrtOT in respect of. All tax Com￿13n￿ serwices nol snduded above AJI non-audit services not inckjdeil above Page 34

DocusKJn Envekpe ID." 7093SCCC*F1E-8EDEa)14-932AW01731 PORTLAND COLLEGE (A company limited by guarant•e) NOTES TO THE FINANCIAL STATEMEPITS FOR THE YEAR ENDED 31 AUGUST 2025 12. Staff costs Group 2025 Group 2024 Company 2025 £000 Company 2024 Wages and salaries SocAal security costs ConlribulM)n lo defined contribts￿n pension schemes 14.616 1,447 12.890 994 12.995 1,286 11.588 882 703 579 552 16,766 14.463 14.947 13,022 Ouring the year. reduntjancy and lem)inatw)n costs tolalkd £6.9k in respect of 5 empbyees (2024.. £17.6k in respect of 5 employees). The average number of pwsons employed by the Group during the year was as follows.. Group 2025 No. Group 2024 No. Company 2025 No. Company 2024 No. EdU￿tIOn Care & Support General Leamer SupppL¥t Corporate Services Trading Activities Fundraising 326 288 246 66 28 27 273 232 71 31 242 246 66 28 2T 232 71 31 671 662 618 616 In addition a total of $712024: 48) ¥olunleets made a contn"bution to the Group in a v8riety of dillerent ways. The number of empkjyeés whose ernpkn￿ b6nefits (exduding employer Pèn$￿ costs) exceeded £60.000 was.. Group 2025 No. Group 2024 In the band £60,001 - £70,000 In the band £70.001- £80.000 In the band £110,001 - £120.0 The GTOUP considets its key management personnel to eomprise Ihe Senior Management Team as detailed in the Trustees. report. The total employment benefrts including employer pension contributions and employer nalirffial inyjTan￿ of the key management personnel were £567k12024.. £539k}. Page 35

OcKu5bJn Envebw ID.. 70935￿￿F1E-0E0E-80l4-932AgOa0473l PORTLAND COLLEGE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. Trustees. remuneratlon and expenses Durir¥J the year. no TnJslees recebved any remunerakn.on or olher benefits (2024- £NIL). DuriThJ Ihe year ended 31 August 2025. n(> Trustee expenses have been ncurred {2024- £NIU. 14. Intangible assets Group Computer softwarn £000 Goodwill £000 Total £000 Cost Al 1 September 2024 Additions $75 575 At 31 August 2025 575 581 Amortisation At 1 September 2024 Charge for the year 219 219 58 58 At 31 August 2025 277 277 Nèt book value At 31 August 2025 298 304 At 31 August 2024 356 356 Page 36

Docu$iw Enveltspe ID.. 70935OCC*F1E4EOE-8014-932A90304n1 PORTLAND COLLEGE (A COM￿rtY limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Tanglbk fixed assèts Group Flxtures, Assets Motor fittings and under v•hicles equipment construction £000 £000 FreelK¥ld property £000 Total £000 Cost At 1 September 2024 Additions Other movement 23.170 283 (131) 469 26.738 2,893 1139) 36 305 13) 2,269 15) At 31 August 2025 23.322 3.401 2.269 29.492 Depre¢latlon At 1 S8Ptember 2024 Charge for the year 12.981 280 2.170 27D 15,431 923 At 31 August 2025 13,585 329 2,440 16.354 Net bookvalu• Al 31 Augusl 2025 9.737 961 2.269 13.138 At 31 August 2024 10, 189 189 929 11,307 The other movement ￿PreSents VAT costs ￿CoVered on fixed asset costs as a result of partial exemption claims arKJ the capital goods scheme. Page 37

Docusign En¥gbpa10. 70g35￿c￿FlE￿EDÉ-eOl4-9J1￿3o4731 PORTLAND COLLEGE (A ¢ompany limlted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Tangible fixed assets (continued} Company Fixtur•$. Assets Motor fittSngs and und•r vehicles equlpment constru¢tion £000 £000 Free1￿ld property Total £000 Cost At 1 Sept￿ber 2024 Additions Other movement 23,082 26.493 2.863 11391 2.269 (1311 (3> Al 31 August 2025 23.219 3,281 2,269 29,217 Depreciation Al 1 September 2024 Charge for the year 12.959 583 266 2,145 249 15,370 870 38 Al 31 Au&￿st 2025 13.542 2.394 16.240 Net book value At 31 Au￿st 2025 .677 144 12,977 Al 31 August 2024 10. 123 151 11,123 The other movement rewesents VAT costs Tecover&J <>n fixed asset costs as a resull of partial exemption claims and the ca￿trI wds stheme. Page 38

Doctsw9n EnveknpÈ10.. 70939)CC4FIE4EDE401&932Ag)304731 PORTLANO COLLEGE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Flx•d asset investments Investments In Subsidiary ¢ompanies Company £000 Cost At 1 Soptamber 2024 450 At 31 August 2025 450 Net b¢)ok value At 31 August 2025 450 Al 31 August 2024 450 Principal subsidiar*$ The following were subsidiary Underta￿.n9s of the Company. Names Company number Prlnclpal actlvlty Holdlng Included In consolldatlon Poruand College Enterprises Limited 06766855 Catering, functions and lettings Educalion Education 100% Yes Polly Teach Limited JumpstartAP Limited 09287786 140513LX) 100% Yes 11)0% Yes 'The investmen15 in the aLx)ve were indireclly held. The financial r8sulls of the subsidiaries for the year were.. Name$ In¢om• Expendttur• Profftl (loss) for th• yoar Net as$et$l (Ilabllltles) Portland College Enlerprises Limited Polly Teach Limited JumpslaTtAP Liffliled 375,863 1,938.349 357.373 346,470 1.917,146 451,390 29.393 21.203 {94,0171 570,706 333.515 {57.808) Page 39

DocusvJn Erwekpe ID.. 70935(tC-6F1E4EoEWJ14-93￿3O1nl PORTLAND COLLEGE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Stocks Group 2025 £000 Group 2024 Cornpany 2025 £000 Company 2024 £000 12 Finished goods and goods for resale 20 Debtors Group 2025 Gmup 2024 Company 2025 £000 Company 2024 £000 Duo withln on8 year Trade debtors Amounts owed by gr￿P un(Sertakings Other debtors Prepayments and acc¥ued irKome 7,674 959 390 18 428 1.303 199 19 38 24 457 2. 198 1.795 1,983 19. Curr•nt ass•t Inv•stments . Group 2025 £000 Gmtsp 2024 Company 2025 £000 Company 2024 £000 Unlisted investrnents I1￿uld) 250 250 Page 40

Docuslan EnvÈlw ID. 709350CC*F1E4EDE-8014432AUW731 PORTLAND COLLEGE (A company Ilmlled by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Cr•ditors: Amounts falling due within one year Group 2025 £000 Gmup 2024 £000 Company 2025 £000 Comp8ny 2024 £000 Trade creditors 435 159 423 103 136 Amounts owed to group undertakir¥Js Cofpcwalion tax Othei taxation aThJ social securrty Other creditors Accruals and deferred Income 175 365 602 966 79 226 227 558 706 26S 1.764 2.097 1.633 1,627 Group 2025 £000 Group 2024 £000 Deferred income at 1 September 2024 Resources deferred tluring the year Amounts released Irom previous per￿S 109 528 211 109 1109) f211J 528 109 21. Def•rr8d laxatlon Group 2025 £000 Al the beginning of the year Charge for the year 22 22 The defeffed tax liability is made up as folbws.. Group 2025 £000 Gmup 2024 £000 Fixed asset timing differences (221 {221 Page41

Docusign Envqb)pe10." 70935OCC4FIE-8eDE4014-932Ag)304731 PORTLAND COLLEGE IA ¢¢)mpany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 22. Statement of fvnds Statement of funds- ¢urr•nt year Balance at 1 September 2024 £000 Balance at Gainsl 31 August (Losseyl 2025 £000 £000 Transfvrs inlout Income Expenditure £000 Unr¢$tri¢ted fvnd$ Designatod lunds Campus Developmenl Plan Woodborough Road 1.000 (1.000) 750 750 1.000 {2SOI 750 Ggneral funds Unre51ricted FurKIs 13.719 22.202 (20.1x12) 250 {170} 15.999 Total Unr¢stri¢t•d funds 14.719 22.202 {20.002) 1170) 16.749 Page 42

Envel)￿10.. 709350CC4FIE4EDE-8014.932A91304731 PORTLAND COLLEGE IA company Ilmit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 22. Statsmont of fund5 {continu•d} Balance at 1 S•ptember 2024 £000 Balance at 31 Aug115t 2025 £000 Trdnsfers inlout £000 Galnsl (Losses) £DOO Income Expendlture Rèstrlct•d funds ESFA- Capit grant ESFA- Revenue grant Disability cycle Pfoje¢i Minibus Mulli-use games area 199 11991 51 33 WoodJan¢Js Project Trade Centre Farm Enrichment partner piK)t Scholarship Fund Day Center Sensory R(x)m Equipment ariousl Pines Forest Ro&J West Sustainability grant WAZ Staffing Pathways NCS Other 47 13) {15) 12) 527 10 512 75 (75) 95 95 35 30 (7) (21 146 24 24 53 {53) (140) (40) 15) 140 14 Assessments Total Reslrl¢t•d funds 1.015 752 (651) 1.116 Total of funds 15.734 22.954 120.653) 1170) 17,865 Page 43

OocusvJn Envebp D.. 70935tCW1E4EDE40I4W2A9)￿731 PORTLAND COLLEGE {A company limlled by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Statement of funds (continued) Oesignated Funds: The campus development plan of £1.(￿k is on a signtficanl programme of Infrastructure modemisation an¢J Ireehold propety acqUI￿tion that completed during the financial year. These funds have been released to general funds in the year following completr'on of the Purchase. The WOOdt￿rough Road lunds of £750k a￿ alkxated for Ihe pU￿haSe of a new building. %thich completed post yearénd in September 2025. Restrlcted Funds: Significant restricted fund balances relate to th6 followng projects: Minibus - Pufchase of new Colkge minitNs for use by atizens aTrJ leamets. Woodlands Projecl- Fully accessAe f￿$t adventure zone for leamer and the larger community. Trade Centre - EduCati￿al area prwding practical vocational skills. Farm- Redevelopment of Fam) area accessible by slaff. kamers and cittzens. Scholarship Fund - Cash fund5 a￿ hehj for the speufic purpose of supportiNJ students. ESFA Capital Grant- Includes School Condit¢on AIl¢xat￿nS ISCAI and Devolved Fomula Capitsl IDFCI- awarded by the ESFA to help maintain and improve the condthon of the College buildings and grounds and for capitsl propcts respecll'vely. ESFA Revenue Granl - Indudes Teacherfs Pens[C￿ Scheme (TPSI - awarded by the ESFA for the teachers, pension scheme. Pines Devebpmenl- Renovab"NJ the Pines builtjing to bewne FE Residential and expand Ihat provision. Forest Road West - Purchase. Pfeparal)n. and fumishing of a new sile for Education in Nottingham (including rooms for Polly Teach). WAZ StaffirwJ - Funds raised to partially cover the costs of the WooLlland Adventure Zone team. PalhwayE- Funds raised for our Pathways provision which aims to improve empsoyrnent opportunities for people with disabilrties by prowding wurses arld o)unsellin9 {previousty known as Recovery Collggo). NCS- Funding from the NCS for Woc#JlarKts ActM"ts and I￿)d pwded to the public. Enrichment Partnership F4kt- An aduli education programme designed lo support adults back into work. this is a brilliant addilion lo Poruand Pathways. and aluned strongly wilh OUT charitsble mtssion. Sustainability Grant - This is a grant provided to support a new digital training suite, for both staff and learners to upskill in d￿lta1 aTrJ innovative tech. Page 44

DouJ5tyJTh Enveknpelo.. 709350cC4F1E4EDE4014-932Ag)￿73l PORTLAND COLLEGE (A ￿MpanY limllod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 202S 22. Statement of fvnds l¢onllnu•d) Stat•rnent of funds- prior year Lgalance al 1 Strptember 2023 Balance al 37 August 2024 Gain (Losses) £000 Income Expenditure Unrestricted funds Designat•d funds Campus Development Plan 1.000 Genoral funds Unrestricted Funds 12.042 19,799 (17.940) (182) 13.719 Total Unrestrlded funds 13.042 19.799 f17.940) (f 82) 14,719 R￿tricted fund$ ESFA- Capitsl grant ESFA- Revenue granl Oisability C￿18 project Minibus Woodlands Project Trade Centre 154 (154J (15J (40J (6J (5J (2J 15 40 62 36 43 38 228 99 69 527 301 io Farm 10 Enrichment patr￿r pilot Scholarship Fund Day Cenler Sensory Rwm Pines Forest Road West Suslainabilty grant WAZ StsffirKJ Pathways NCS 14 (14) 95 95 (4) 30 750 30 148 35 (2) (6) 1101) (51) (125) 38 101 51 125 427 1.113 (525) 1,015 Total of funds 13,469 20.912 (18.465) (182) 15.734 Page 45

DocusbJn Envekjw D.. 7o9wC4F1E￿E0E-8ol￿931A9)j0473l PORTLAND COLLEGE (A ¢ompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AVGUST 2025 23. Sumwnary of funds Summary of funds- current year Balance at 1 September 2024 Balance at Gainsl 31 August (Losses) 2025 £000 £000 Transfers inlout £000 Income Expenditu £000 Oesignated funds General funds Restricted funds {2501 2SO 750 15.999 1.116 13.719 1.015 22.202 752 (20.002} (651) 1170} 15,734 22.954 (20.653) 1170 17.865 Summary of fund$- prior year Bal8n¢e at I September 2033 Balance al 31 Augusl 2024 £0( Gain (Losses) Income Expenditure £000 Designated funds General funds Restricted fun 12.042 427 19.799 1.113 (17.940) (525) {182J 13. 719 7,015 13.469 20.912 (18.465) f182J 75.T34 24. Analy$l$ ol net assets between funds Analysls of nel assets betwttn funds - current year Restrlcted Unrestrictèd funds funds 2025 2025 £000 £000 Total funds 2025 £000 Tangible fixed assets Intangible fixed assets Current assets Creditor5 due wtthin one year Provisions for liabilities and ¢harg6s 13,137 13.137 1.324 {208) 6.210 11,764} 122> {1,556) 122} Total 1.116 16.749 17.865 Page 46

Dc¢usvJn Envgk)w10". 709350CC4F1E-8EOE-8014-932A90304731 PORTLAND COLLEGE IA company limlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 24. AnalysSs of net assets between fvnds (contlnued) Analysis of net assets I￿£ween funds- prior year . Reslricted Unrestricted funds funds 2024 2024 £000 Tolal funds 2024 £000 TaThJible r￿ell assets Intangible fixed assets Cufrent assets 11,307 356 5. 153 {2,097) 11.307 356 6,168 f2.097J 1.015 Creditor5 due within one Jpar Total 1.015 14,719 15.734 25. Re¢on¢lllatlon of net mov•ment In fvnds to n¢t ush flow from operating aGtlvStles Group 2025 £000 Gmup 2024 Net inLx)me for the sear las per Statement of Finanoal ACti￿ties) 2.447 Adjustments for: Deprerialion ¢arges Amortisats"on char9es Dividends, interests and rents from invesbnents Ilncreasel I decrease in stocks Decrease in ¢Jeblors Decrease in creditors Nel defined benefit pensKJn s(eme (x)st Goodwill acquired on purchase of subsidiary Cash held for inve$tmgnt Other movements in fixed assets reCogn￿d 923 58 1761 {131 631 1429) 11701 998 55 (63) {1) 157 (91) (182J (28J 12501 139 Net ¢a$h provided by operallng adi¥iti•s 3,113 3.286 26. Analysis of cash and cash equivalents Group 2025 £000 4.246 Gmup 2024 £000 3,950 Cash in hand Page 47

OowswJn Envebpg10". 709350Cc4F1E4EDE-eo14-932￿3o4nl PORTLAND COLLEGE (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGIIST 2025 27. Analysis ol changes in net debt Othr non- cash At31 changes August 2025 £ODO Éooo September 2024 Cash flow5 £000 £000 3.950 Cash at bank and in hand Liquid investments 1250 250 4.264 250 3,950 4.514 28. Pension commitments Defln•d contribution s¢herne The Group prowdes autoonrolment membership of its defined contribution pension scheme lo 811 new and exists'ng employees. This Scheme is ¢urrentty operated by Aviva {forrnerly Fr￿ndS Lrfe). The Group 11 contribute an equal percentage of salary. in accordanee wth the employee's chosen option, up lo a maximum of 6%. Empbyer cOntribut￿nS of £550k were made lo this Scheme during the year ended 31 August 2025 (2024.- £435kl. As an allematNe to its V4¥n pens￿ scheme. the Group also contributes to other specific defined benefrt schemes including the Teachers. Pension Scheme (TPS} for certain tutors and those employed by outside agencies. The cost of employer contributions during the year was £116k (2024.. £137kl. Contn"butsons owing to these schemes at 31 A￿JuSt 2025 were £93k12024'. £24k}. Teachers. Penslon Scheme The Teachers. Pension Scheme ITPSI is a statutory. ¢ontributory, defined benefit scheme, govemed by the Teachers. Pertsion Scheme Regulatw)n$ 2014. Ml teachers have the option to opl-out of the TPS following enrolmenl. The TPS is an unlunded scheme to which both the mpJnber and empk)￿r makes conlribulions. as a percentage of salary - these contributions a￿ credited to the Exthequer. Retirement 8n(i other pension benefits are pabd by publ￿ funds provided by Partiament. Valu•tlon of the Teachers. Pension Schem• The Govemment Actuary, using ftomial actuarial princIp￿S. conducts a fornial actuarial review of the TPS in accordance the Public Servi( Pensions (Vafuations and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs a￿ recognised and managed approprialety arKI the review speuffies the levd of fvture contn"bulions. Actuarial scheme valuat￿n5 are dependent on assumptions about the value of future ¢osts. design of benefits and many other factors_ The L3test actuarial valualK)n of the TPS was carried out as a131 March. 2020. The valuats.on ￿ptsrt was pU￿1$hel by the Department for Edu¢th"on on 27 Octobei 2023, wth Ihe SCAPE rate. sel by HMT. ap￿￿ng a nots.0n￿ investment retum based on 1.7% above the rale of CPI. The key elements of the valuaiion outcome are". empbyer ¢ontribub"on rates set at 28.68% of pensionabl8 pay (including a 0.08Y• administration le￿1. Thi5 is an increase of 5% in employer contributions and the s>)St control result Is such that no change in member l)enefits is needed. Page 48

DocuswJn Envdcy? ID.. 709350CC4FIE4EOE-8014-932A90304731 PORTLAND COLLEGE IA company Ilmlled by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 28. Pension Commitrnents (continu•d) lolal scheme liabilitses {pensions currenuy in payment and the estimated cost of future benefits) for service to the effective date of £262.000 mill￿n and notional assets lestimated future contributions togelhef Wrth the nots.onal investments held al the valuation datel of £222.200 million. giving a notion￿ past se￿￿ defiert of £39.800 million The resutt of this ValUat￿n will be iM￿err￿n1ed frryn 1 April 2024. The next valuation result is due lo be impkmented from 1 April 2028. A copy of the Valuati￿ rewrt and supporbng documentation is on the Teachers. PenS￿nS websile {https".Ihwh¥.leacherspensions.co.ukJnewslemployers120191041teachers-pensions-valuation-report.aspxl. Undèr the definitions sel in FRS 102. the TPS is an unftJnd8d mu￿.￿Mp￿r p8nsion scheme. The Group has accounted for its Contribut￿nS lo Ihe scheme as if il were a defined conlribulion schemo. The Group has sel out above tho infovmalion available the scheme. Group defined benefit pension sch•m The Company ckjsed its Defined Benefit Scheme to new Members Mth effect from 1 January 1997 and so the use of the projected unit valuatjon method ￿quired by FRS102 means that the current service cosl las proportion ol Oefined Benefit Memberfs eamings) is likety to increase as Members approach retirement. ' The assets of the Scheme a￿ held separately from of the College, ￿n9 invested with Pnjdentlal Assurance. The most recent actuarial report. whth was produeed with effective dale of 31 December 2021, showed a deficit valuation of £245k an(J fun¢Jing level of 97%. It was agreed be￿een the College and the Trustees of the Scheme to aim to remove the funding shortfal, as il existed at 31 December 2015. Conseouentty the Colkge is contributing £218k per annum. The resulls of the actuarial valuation as al 31 Decemb8r 2021 have bgen projected to 31 Au9USt 2025 using the assumptions set out below. The fKJures in the follwng disclosures were measured using the propct method. Principal actuarol assumptions at the BalarKe sheet date {expressed a$ weighted averages).. At 31 August At 31 August 2025 2024 Discount rate Revaluation of defeffed pensifms RPI Inflation 6.00 2.50 3.00 5.10 2.60 3.00 Page 49

Docusiqn EnveknpE ID.. 7093X)CCF1E4EDE-8014F932Ag)304n1 PORTLAND COLLEGE (A cofflpany limited by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 28. Pension c¢)mmitinents (¢ontlnu•d) At 31 August At 31 August 2025 2024 Ye¥$ Year5 Mortalty rates lin years) - for a male aged 65 now - at 65 for a male aged 45 now - for 8 female aged 65 now - at 65 for a female aged 45 now 21.1 21.4 22.6 23.9 25.3 23.3 24.8 The Group's share of the assets in the ￿heffle wa5.. At 31 Augusl At 31 August 2025 2024 £000 £000 Diversifiad Growth Funds Liability Driven Investsments Divetsified C￿dI1 Funds Annuitiès 763 727 1, 775 2.050 908 1,339 2,131 801 1.143 Cash 1.206 Totsl fair value of assets 6.177 6,606 The actual retum on stheme assets was £226,00010ss (2024- £585.000 gain). The amounts recognised in the consol￿ated statement of financial aclrvities a￿ as follows.. 2025 2024 £000 Interest income l {cosl} Administrative expenses Total amount recognised in the Con$olidat•d statement of financial activities 51 (991 (TO) 1481 (36) Movements in the present value of the defined benefft Obl￿t￿)n were as follows: 2025 £000 Opening defined berfft obligabon Actuarial Igainsybsses Benefits paid Interest cost 5,676 1741) (322) 281 Closlng dfjfln￿ bgnofit obllgation 4.894 Page 50

Docusv4n Env8h￿ ID. 70935OCC4F1E4E0EJ14.932A￿50473l PORTLAND COLLEGE (A ¢omp•ny limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2025 P•nsion commitments l¢¢)ntlnued) Movements in the f￿r value ol the Group's share of scheme assets wre'8s follows.. 2025 £000 Opening fair value of scheme assets Inleiesl income Actuarial {lossesygains Contributions by emplO￿r 8enefits paid Administration expenses Derecognilion of pensi￿ surplus 5.676 332 15581 218 (3221 {99) (353) Closlng falr value of sch•m• assets 4,894 As a result of the cuffent market ¢x)nditions factored nto the assumpbons applied by the LGPS scheme acluary, the actuarial valualion at the yeaf-end has resulled in an unrecognised surplus on the scheme of É1,283,000 (2024- £930.000). The surplus has r￿t been recc¥Jnised within the financi8151alewrhenls. The recognition of a surplu5 under FRS102 shouky be made lo Ihe" extent Ihal an employer can expert lo S¢￿re economic benefit from It. either by paying a reduced rale of contributK)ns or taking refvnd. Management have assessed both considerations and concluded the followng.. Based on hislofic practices and updates on future expectatKJns from the adminislering authoTIty. management do not anticipate that the next actuarial valuation will resurt in a reduction to eonlributsons due lo current market conditsons. The availabilty of any FX)tential cash ￿fUnd On￿ all labdilies have been paid is based on several unpredKtable future outcomes sel out in the scheme rules that cannot be reasonably assumed at Ihis stage. As a result. management consider there lo be a very Icr4V possibility of a cash refund. From the above concfu5ion. the surplus balan￿ has therefore been ￿$(n"¢ted to a value of £Nil al the year-end. The derecognition adjustment is shown as other reco9ni5ed gainsl losses in the Slalemenl of Financial Activilies. 29. Operatlng lease commitments At 31 August 2025 the Group and the Company had commilmènls to make future minimum leasé paymenls under non<an¢ellable operating leases as fol￿.. Group 2025 Group 2024 Company 202S Gompany 2024 £000 Not later than 1 year Later than 1 year and not later 5 years Later than 5 years 41 37 58 61 117 102 95 Page 51

DocusKJn EnWekj￿ID.. 70939KC-6FIE4EOE4014￿33A9)30473l PORTLAND COLLEGE {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 Legal sL*us of the Charlty PO￿an(l College is a Company Limited by Guarantee and withwt share caprtal incoTporaled in the United Kingdom. The liabrfrty of Members is limited to £10 eath in the unltkely event of the Company being oun(J.up'. 31. Rolated party tran$actlons Portland Colkge has a fully owned trading subsidiary. PorU8nd Colbege Enterprises Limited. During the ar, costs of £34k12024.' £12k} were incurred and sales of £120k12024.. £177kl were generated. At 31 Augu$t 2025. the Charity was owed £230k12024: £168k) by Ihe subsidiary. Portland Cdlege has a fulty owned trading subsidiary. Polly Teach Limited. During the year. costs of £127k12024.' £Nill were incurred and Sa￿ of £217k12024.. £228k} were generated. At 31 August 2025, the Charity owod £103k lo the subsKliary12024.- £31k owed by the subsidiary}. Portland College has a fully owned trading subsNliary. JumpstariAP Limited. During the year. costs of £158k were inCur￿d. Al 31 August 2025, Ihe Chartty was owed £158k by the subsKliary. The Group has made purchases of £6.34712024: £Nill from Delphi Care Solutions. a company in which one Iruslee. Ms H Cwper, is a director. There is no amount outs&￿ding ai the balance sheet date12024: £Nil). The Group has made sales of £Nil {2024.. £4.3001 to ca￿ After Combat, a company in which one trustee, Mr D Fathers. is a director. There is no amount outstanding at the balance sheet t1ate12024-. £Nill. The Group has made purchases of £38012024". £Nil} from Markeling Nottingham. a company in %thich one trustee. Mr S Jackson. is a director. There is no amount out5tandin9 al the balance sheet tJate12024'. £Nil}. 32. Post balan¢0 sheet events On 22 September 2025, the Charity purchased a new property in Nottingham for conshderation of £750k as part of the Group's campus development plan. 33. Controlllng party The Trustees consider that there 15 no ultimate controlling party. Page 52