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2025-08-31-accounts

REGISTERED COMPANYNUMBER: 01315642 (England and Wales) REGISTERED CHARITY NUMBER: 274066 Report ofthe Truswand nanclal Ststsments forthe Y&rEnded 31 2Q15 The Intematlonal College OFOrf Medldne {U.Ll Lknlted sV￿rKIe11$ LLP Chartered knountants and Ststutory Audthr Atlantlc House 8 Bell Lane Bellbrook Industrial Estate Uckfield EaSt￿SseX TN22 IQL

The Intematlonal College Of Orlental Medicine (U.L) Limited Cmtents of the FknaKlal statem fortheyear Ended ai ￿￿U$r 2￿5 Report ofthe Trustees I to 10 11 to 15 16 BBIM Sheet 17 to 30

The International College Of Orientsl Me(rth Iu.ILI Umited (Registered number. 01315642) Rep(¥rt of the Trustees forthe Ye Ended 31 Pwgityt2025 The trustee5 who are also dirertors of the charity for the purposes of the Companies Act 2￿6, present their report with the financial statements of the tharity for the year ended 31 August 2025. The trustees have adopted the provisions of Accounting and ReP)rtI￿ by tharÉbes.' Statsment Of Recommended Practi apFAI￿bIe to charities preparlng their ¥counts in aC￿rdan0 vthh the Financial Reporting Stsndèrd applicable .. In the UK and Re4)ubik of.Ireland (FRS 1021 (effertive l January2Q191. oBJE￿IVEs AND AcnvmE5 Objectives and aln To effectivew support the pTrckn￿ and learning of traditional Acupuntture and rts integrauon with modem natlonal heakh Wems provTdlng an answer to the glrA)al ui5is all natlonal health se￿ceS are experiencing t¢)d8y. ICOM'S objNes arè.. To put patients at the centre of the dlnical stage andtreat them as indNiduals. encouraging them to under5t3nd and take responsibilttyfortheir own health. To reduce costs of effectNe medlcal interventions and benefftthe community by providi￿ affordable specialistlc complementsryIa￿ern3tlve trearmerTL To ￿lIeVe pressure from the NHS treating diseases that are normali¥ addressed using potential dangèrous medications Ilke tspioids and N&41D. To advance the education of the public in the subject of Tradrch)nal Acupunrture. To adwdn¢e the education of the Students by providing ￿SIstEn8 them in gaining a professl¢nal licentiate recognised by the British Acupuncture c￿thi1. summary To provlde, dellver and enhan￿ the ore and treatmerrt of ￿tiert5 requiring medlcal treatment, heallng the sick, care of the poor and the aged and to en￿ge, train. Instr￿ educate and employ high￿ skilled Chinese Medical staff as necessary. Pa8e I

The Internatlonal College Of Orientsl Medldne (U.L) Umited (Regtsterd number: In315642) Rewt ofthe Trustees ft)rtheYeBr Ermled 31)A¥USt 2025 OWEcfivES AND ACTivmÉs bllc benefit and Achlevements In shaplng our Obl￿tIveS for the year and planning our a¢tivttie4 the tnjstees have considered the Charity Commission's guidance on public benefrt, IncI￿lIng guidance 'public benefit runnlng a charity IPD21'. The achievements and aetlvlties abovedemon%trate the publicbenefitari&n&through1hfCharWsBrt1￿1AgS." ICOM is a world-rencwned aCupun¢ruretrainingcol￿ge, founded by Dr Van Buren In 1972. In its long history, ICOM has been a major contributor to the deveknpment OF Acupuncture in the UK and one of the founders of the UK Acuwncture professional E4)ty. The British Acupuncture Councll. As the oldest College in the country, ICOM has strlved to instill in tts ￿adUate5 a sense of solidarity and responsibility, healthy disti￿1n¢, regard and reveren￿ for the 5ufferin8 of others combinÈd wlth seK4espert and the highest atrddernic standards. In effect, ICOM graduates are among the most important Chinese Mediclne Scholars in the West. Just to mentron a few relevant examp￿5. Giovannl Macl¢xa Prollfic authorof ainical textbooks whith are essential read1￿ in almost all western Chinese Medicine CLiIleges/unNffstti￿ around world IEurope. Russla. U&4 Australia, New Zealand, Israel etc.I Peter Deadman ar￿ Maan AkKhafajlAuthors of the most respected and sold Polnt Location P￿0k prc¥lutsd by Westem Scholars. Julian Scott Author of inftuential pediatrle Acupuntture books. Peter Hrebrace Editor of the Press c¢Jrnpany reswn5ibk forthe d1￿Mination In the UK of the aassical Approach to Acuwnttuie. Joan Du¥een Van Buren'5 wpil who IS teathing extensrvely around the world. In almost 50 years of practice the college has IKensed 811) Acupuncture practiboners and treated thou5and5 of patient$ in its dini¢ Ilast year the ICOM dinic has administered sl￿ treatments) becoming a ￿ntre of èttr#ctton for patients In the whole sauth of Ereland. ICOM has hdkEd hundreds of patients to reg31n their health whereas other medical InstitutiDns havefailed them. Although ICOM Ls an￿ a small ijistlt￿n, Its Influencè ha5 reached the US4 Israel, FSnland. and Australla where colleges are stlll fcAlowing the footsteps of ICOM ￿jnder Dr Van Buren. In fact, ICOM srrtall classes are designed to make the journey of its 5tudertts akin to the traditional Chlnese Pupli neacher apprenti￿5h1p.' a balanced blend OF academic rlgour and prattl￿1 dinical applications. At ICOM students learn that health and Illne55 are not separate enthes but rather the extremes of a continuum where lrfe unfolds. The more we move away from life and from the optimum yin1va￿ balan￿. the morewe rw toward% illness. Fif+lANCIAL REVIEW FlnanclHI revSew The statement of financlal activities showed net deficri of £6,178 Isurplus 2024 - 92,0731 for the year and reserves stsnd at £533,544 12024 - £539.7221. The financial po%tK)n at the year end revealed by the Balance Sheet shows net current assets or working capital of £ia8.038 12024 - £158,703). The net b¢)ok value of fixed assets held. all of which are Ltsed direcdy for chafltable purtMJses. anv)unted to £395,SfyS12024- £381.0191. Page 2

The Internatlonal College OF Orkntsl Meddne (U.K.l Umlted (Regi5tereil nwtber. 013156421 ReFxYt of tlr Trustees RNANCIAL REVIEW Investment powers and polry Under the Memorandum and Arttcles of Assodatlon. the tharity has the power to makÈ any investmént which the Trustee5 See fit. The Trustees have considered the most appropriate ￿t11c¥ for investing funds and have ..feuThd that £a5h.dwits2rè'the-safé%ttts"fffi oÉinVÈ3tffiérit ". Reserves pollcy We do not have any material fSnancSal Investments. and we do not knld onto any restricted funds. The only kev factor that may afFe¢t the financtal w)sttion of the colle8e is a decrease of student numbers. The college has been prDactive scheduling more Open Days lthe fe&Jback is positive so far, and we anticipate that our numbers VAII Increase) and irKreasin8 our prcrfnotional acWe& However, to ensure the ongoing financial ability of the charlty, ICOM continue5 to develop and expand revenue streams, such as.. The furtherdevelopmentof our dasslcal acvFwrTrcwfe CPD program, Icontinued Professlonal Development). We ca￿ful￿ selett and platfom experienced scholars and educators of Chinese Medicine wrth the viewto cernentingour reputatlon asthe countrie5 leadi￿ provider of acupuncture CPD'S. The aim ofour CPD'sendeavours Is to *￿ntually¢reatea masterfs prwam of acupuncture at ICOM. The recTUftment of carefulty selected practltioners of various health modalities, with a view to increasing revenue stream5 for the college but a150Wth the view to developing an Integrated health centre. In collaboration wlth gther acupuncwreteathing institukn, we are exploring aVenU￿fL￿ mthually beneficial collaboration. Part of ICOM'S five-year strategic pL8n Is a rthm to the higher education frameworK to thi5 end ICOM is preparing relevant eviden￿ and documentsti¢)n in readine5sforthe applicatlon for Offi￿ forstudents. Golng concem After maklng appropriate enquiries, the TfLLStees have a reasonable eXp￿￿tIon that the tharity has adequate resources to continue in operational existence for the foreseeable fijture. For this reason, it continues to adopt the goirE¢oncern basls in preparlngthefinancHI statemerrt& sfRucfuRE. GOVERNANCE AND MANAGEMEN[ 6overnlng do¢umwrt The charity is controlled by rts govemlng doajmert a deed of trust. conskn a lim(ted CL)mpany, Ilmlted by guarantèe. as defirEd bythe Companie5 Act2(￿. age3

The Iniernatlonal College Of Orlental Medlcine IU.L) Llmlted (Regtstered number. 013156421 Report ofthe Trustees forihp Year Ended 31 2025 The Internatlonol College of Orlentsl Medictne IUKI Ltmited Is rw5tered as a company limited by guarantee and not hawng share capÉtsl. Its osxTrtions are governed ￿ rts Memorandum and Artlcles of Assoclation IM&AAI. The Intèrnational College of Oriental Medicine IUK) Umited was regi#ered at Companies House on 31 May ._1977 under.registratlon. pwmber C11315642.and.the Fe8￿teFed.WIth.thÈ(haritW Commbssion""th) 22 Septesrt)er 19n Underreferen￿ number 274066. Reuultmmt and appolntmert of newlnote As set out in the Articles of Asso¢iatiort the thair of the Trtstees is nominatad by the other Trustees. The direttors of the orgaft15atioTr are also the charity Tru5tee5 for the purposes of tharty law. The Board of Trustses has powerto appoint addttlonal Truste25 as it see5 fit The Trustees have no beneficial interest in the company other than as members. The Trustees are also the directors of the company. All of the TriL5tees are members of the Company and 8uarantse to ContrIk￿te £1 in event of wlnding up. Indu¢th)n tralnlns ot newtrustees The Trustees maintain a good Wor￿￿9 kno%￿edge of dwrity and compary law and best practl¢e by regular reading of charrty press artlcles and strutlny of Companies House, Chartty Comm15sion and other Government and voluntsry organlsatlon advlsory web5its& New T￿￿ are given copies of the Memorandum and Articles of A5$0Cidtion and copies of previous minute5 and attend an ir￿u¢￿(sn Session gNen by an experfented Trustee. Rel3tsd partles The tkrity has relationshlps wtth ￿lated parties and other charltles and organlsatlons wlth whlch tt eo- operates in pursuit of rts charitable obje(*ives. Page 4

InternatityMI College 01 Orfentsl Medklne IU.Ll Umited {RegkteTed nwnber: 01315642) Rep)rt ofthe Tntstees fc*the Year Ended 31 Aiwst2025 sTrucruRE, GOVERNANCE AND MANAGEMENT mana￿Ment and goveman The College'5 mission Statement.. To. be a centre..of ¢%￿lLen￿.for .aCupUn￿re teachu)& health care and ￿rth by wntemporary application of classical" acupuncture. The Intemational College of Orie7rt81 Mediclne (UK) Ltd is the ddest Acuwncture te2chlng Instltutlon In the UK and one of the oldest in Europe. The cdlege, commonty known as ICOM, was founded In 1972 atml since 1977 has had its ￿lden￿ in the ci)mpany owned buildin8 in E3St Grinstead. ICOM L% a reglstered charlty which ainis at formlng hlghly speclallsed pr&tlclng acupuncturists over a perirAI varyiw from three Ifull time student engagement) to fwe years (part Ume student eli￿gementI. Stru¢wrp ot Internal managementand grwemynce The day-to-day management and administrdtlon of the college is carrled out by the Management Team, ompt7sing of the Generdl Manager, Studert Admlnlstrdtor, Communlcations Executwe and Academlc Researther headed by the Principal. Besides 2 ful4ime members Istudent Admlnistratorl and Icommunications LKecutJvel the others all part-time. The Team meets monthly and occasionally attended by a representstive from the &)8rd of Govemor& The Management Team is accountable to aNI guided ty the &)ard OF GoverrKKS. Our Governor members are drawn from a variety of professional backgrcunds other than and includin8 Oriental medicine,. an elected faculty represer)tative is also represented there. They arè resporLsible for the Overall instttutiDnal 3nd academic dlrectlon and strategic plannln& They o¥ersee the activtUas Df the Prtnripal (Accountable Offi￿rI ensurlnB th3t tho charity is carryng out its purposes for the publK tenefft lthe prlmary stakeholders beirbg patSent5 and sludentsl, complying wlth the current ￿gislation in the best interdst Of the college students and dlnic pattentg and ￿SpOnsIblY mana8yng the colle8e resources. The Prinapal reports to the Govemor members at Board Meedn8S SO that any new wlky the Programme Committee or the Management Team may prop05e 15 independently rattned by the Board. The Programrne Committee comprlses all course leader5 arKI support teathinB staff 120 part tlme lecturers) who meet thrice a year to review aCadern￿ standards, discuss and ewaluate course material. monf(or course development and delNery and erwre the orkgoing de￿￿pment and enharKement of leaming and teachlng accordingto the following three main drivers: I Student feedback:The Student College RepresentstNe reportsformallyto the Progrnmme Committee andlor through studerrt representatlves for eath group during meetingswith the ManagementTeam tlmetabled On￿ a term. Student perfOrmar￿e. 3 FacuEty professional or pedagogÈc development inpuL External relevant parlners Page 5

The Intsrnatlonal Cokge Of Orlental Methdr IU.Ll Linmted (Regbtered nwnber. 013156421 for the Year En(kd 31 Au8USt2025 srRUCYVRE, GOVERNANCE AND MANAGEMENr The College contlnues to engage with. and ersure compliance with all reqUIr￿ pnKesses. polrcles and requirements af the BrSttsh Acupuncture Accredltatlon 18AABI which is its professional and starutory partner. ICOM completes an annual monitortng rewrt eath year IAMAF) and the Institutional cllnlol self-audit reportllCSAI for th-É Brlllsh"￿purt"C￿Ure Coundl.""" """ """---"_ The awaré the students recelve L£ the same as all Students have re¢eweé since 1977, the Licentiate In Acupuncture, offerfng Ènty to professional regtstraticffi in the UK wlth the Brltish AaJpun¢ture Councll IBACCI. Operatlon5 of hternal manasemerTt and grydeman As per the Buidelines of The HI￿er Education Code of Governance. Ots and the Nolan Prlnclples of Public Lrfe, IC0fv1 goveming body: has Independent member5 who are fit and proper certtRed,. its conshtijtion, tern￿ of reference arKI regulations are avaikble on CcKnpanies HoLL4e,' keeps a registerof relewant conflicts of intere protects the reputation of ICOM by le￿ewing all the FX)Ilcles that a￿ in place; to fvlfil ICOM mlsskjn statement. monltors how the Mana8ementTeam and Pro8ramme Commlttee enforce and follow those pollde5: the Board records these a¢tNitie5 in the mlnutes of meetings whith provide evidence of how the Board malntsins overslght of the institution's compliano with relevant lebmslation and regulations: acts as a critical friend. Including advising on strate8yand its effectNeness; monltors the quality of educatii>nal provision ensurfr8thatthe requirements of all the external bodies IBAABI are satlsffed. rewews regularly ICOM'S financlng overseeing: o the athivities of the Student Admintyator, who bgs in the SLC ￿ndS on our dedKated server, and the Bursar, who processes these m¢nies: the activities of the ainic and Cdlege income and experKlitures,' these records arethen are audrted and certified by8n irKlependent accountant This is athieved through a strong partnership wtth the Management Team arKI Programme Commlttee whose acttvities arè coordinatd by the Principal supported by the Academ1¢ Advisory Board. An ele¢ted member of the programme commtttee (Faculty Representatfvel aways sits at Board meetings to ensure that the students, patients and stsff members voKes are hèard. To inuÈa dafity in repctin& the Acodeml¢ Advisory Board are invited to Board Meeting5 and ad hoc de&8￿1 Strategy days, In addition. a member of the Board is customarlly Invitsd to Management Team and Programme Commlttee Meetings to hear direcdy the voice of Staff and students, IFurthermore, one of the directors is a member of the ￿neral public and patient of the ICOM cllnlGI Flnany, B¢ard Mem￿TS have access to all actimtfes of the Management Team IMlnute5 of meetlng51 Plannin& NO￿ and dlgital ¢hatsl through MS 0ffitr365 digital platform in cKder to ensufft that even though the Board of Governors meets three tirftes a year, there is a continuous exthar¢8e of informatio between the ManagementTeam and the Board. Page 6

The Interna￿Onal College Of Orientsl Merfidr (UJLI Limited IR4ktered numbep. 01315642) Aeport ¢>f tl Trustees srRucfuRE, GOVERNAPKEAND MANAGEMENT The members of the Prograrnme Commtttee are specialists andlor prattitioners in their own fields, mostly In acuFwncture and other areas of Chlnese medidne or conventlona1 medlclnè. All leaders of a(3demi¢ courses are quallfied teathng profewonals. whereas Cllnlcal courses a￿ led by senior pratttknoners wlth at least 15 vears of cllnical experien￿. Collectively they are resp￿N51b[e for enhafi￿rnent ac11c￿5 as part of the course monitorin& annual monitorin& assessment monitorin& response to extemal examiners wmmentsry, and student feedback Student feedback is colL4ted wa fomial course evaluations, the Student College Representative reporting fomwlly at Programme CommTttee Meetlng5. Students, Portfolio presentation las part of their professional development modulel and through Specifical￿ timetsbled meetings between student representstjves and relevant members of the Mana8ement Tea Programme Committee member5, wprthed by the St￿lent admln19trator. also have pastoral wellbe1ng duties and act as personal tutors meet their tutees at least On￿ per temi (being avallable to offer add￿10Th31 support if requlredl. A selected group of teachlng stsff constttutes the cllnk supervisors, team who are fesponslble for the student5, tKhnicall¢linlcal educatian as well as the transmlsston of the ethiol wdlues informln8 A¢upuncture Interyention as laid out in the Brfush A£UpUnctu￿ c￿n¢11 IBACCI Code of Conduct. Thls comblnatton of profe55ional teathing thlls and smatl cla55 Stzes re5uts in a high level of personal student support and attentlon which is eviderKed ty the commendations re￿Ned by The Brittsh Acupuncture Actreditation Board IBAABI. External stakeholders The award has been developed by the col￿ge programme team, with input from students, Universty colleagues, extemal e￿mInerS and the profewonal body. The valKlated programme h35 been designed to meet key UK higher education requirements. ￿ meets the UK Qualfty Code for Higher Education requirements and levels of learning. The college follows traditional HE practi￿ in that each full year of study enable5 students to gain 120 credlts and over three full years. the award of 360 tredits. The learning outcomes of each cautsÈ link back dirertly to the overarthing aims of the pr￿[al￿Me. The assessment opportunitie5 are carefully designed to meet learning outcomes and the stsndards set for the award are approprlats for qualiflcations atthe level. Academlc Standards External Exan￿ner Appointed by ICOM, one of the roles of Extemal Examiners IEEI is to ensure that integrity and appropriateness of academic stsndards are maintsined, Page 7

The Intrmatlonal College Of ljrlentsl Medldne IU.K) Limited {Re8tstered number. 013156421 Rerrt rfthE Trustees forthe Year Ended 31 2025 sTRU￿VRE. GOVERNANCE AND MANAGEMENT Profe5510nal accredltstion by the professional acup￿r￿￿￿ body IBAABI entslls annual and periodic monitoring of the programme. The ICOM program¥ne ccmtinues to meet the requirements of the BAAB In term5 of content. leamlng hours, dlnl¢ htsuts and co(les of practice. e￿denCed in the rnapping of all Courses to the Standards of..Ed￿t￿n and TralMlnB fop *£upun¢rure. 2011 .ISETAI.and followin8""the"rules of the BAAB Accredita:ion Handboo The 8AcCs SETA have informed all parts of the currtculum and learnlng outcomes for the progr3mme. Tho programme has been designed to permit those students who successfully complete all courses at each level of the programme to satisfy the expettatrjns and requirements of the s￿A, thus equipplng them with the professional standards and ski115 of the healtlKare practilloner in acupuncture. su￿$$fUl 8raduatss are eligible for professional registratEon with the BACC The BACC Standards of Practice far AcupunctuTr (SPAI are rhe set of professional standards to which 811 practitioners must eomplyi Bnd these refiect much of the leaming and teathing tatung place within the pwramme. The renewed aCC￿ditati$>n wsits are COFnpreherLsrve and include observing ledvres, observlng cllnic superwslon, mee￿nE5 Wfth management team. lecturer5, and students. examlning all institutional docurnentstion indudlng financial accounts, resources. and facilrknes managemenL The University concluded in thelr ma]or revlew in 2017 that "FCOM are gjbject to both W and BMB mDnitoring pro￿sseS with each having 3 dlfferent approath". The Universty are reasgjred that the 8AA8 ensures 3 bespoke QA pro￿ whlch Is developmental. rEorou5. illuminating and has produ￿ an excellent resuh for ICOM. ICOM consider5 this io be a very Important developmental wrxe&s whith enables them to be critical and to enhance stsnd3rds professionally." The BAAB approved the programme ur￿nd￿Onalfy in April 2022 and awarded the maxlmum period of actreditation 16 years) at its latest major ￿rK￿lIC review. ICOM was in partnershlp with The University of Greenwt¢h from 2DII - 2018, and we a￿ in the prLKess to re-enter the higher education framework and a university Partnership. CHAC ICOM, through its longstanding founding of. and assooatkn wth. the Council of Hea(ts of Acupunrture College5 ICHACI Is actlvety Invoived in dlscusyons of educational standards and quallty and In sharing best pTrthte ènd staff development opp)rtunltie> REFEREN￿ AND ADMINISTRATIVE DEfAILS Registered Ci>mpany number 01315642 IEnglat)d and W4les} Re815tered Charfty number 274066 Pa8e 8

The Intem*lMal College OF Ortental Me(Idne {U.Ll Limited IRewtered number. 01315642) Report of theTrustees fOrtheY￿r E￿Ied 31 Au8U5t 2025 Reglstered office Van Buren House Green Hedges AvEnue EasL Grln5tead West Sussex -RH19 IDL Truste A M Brooks Retired Chartered EngTneer {resigned 1912120251 G W D K Calcutt Chartered Surveyorlresigned 191¥2025) Ms A B Edw3rds Acupunrturbt And Interfaith Minister R l Elllott Lecturer T O W Ing5 Principal RJ links Commercial Directc Mrs S L Major Acupuncturist Or S Sumar Intemational Deveb)pment Miss H R Ledson Healthcare As51stant {reg8nèd 1514120251 P W Marks lappointe(11912120251 Companyseeretsry Mr5 AM Gunter Audltors Swindells LLP Chartered Accountants and Sthtutory Auditor Atlantlc House 8 8ell Lane BelSbrook Industroal Estate Uckfield East &J5sex TN22 IQL STATEMENT OFTRUStEES' RESPONSIBILMES The trustees Iwho a￿ also the dirert¢rs of The Internati￿al College Of Orientsl Medicsne IU.K.l Lirnlted for the wirooses of company lawl are responsible for prepari￿ the Report of the Trustees and the financial statement5 in accordance applicab￿ law and Untted fingdom Accounting Stsndards IUnTted fingdom Generally Accepted Accounting Practicel includin& Hnancial ReForting Standard 102 Yhe Flnancial Reporting Standard applitable in the UK and Rèpublic of Ireland.. Page 9

The Intemadon31 College Of Ornntal Medkkne IU.Ll Umlted fortheyw Ended 31A¥Jst 2025 STATEMEpif OF TRusfEES' RESPOP4SIBiirriES-cL#rtlnued Q)mpany law requires the trustees to prepare finorKial stateme1￿ for each flnanclal year. Under that law, the truste¥ have eletted to preparE the financial statements in accordance wlth Unrted Kingdom Gener411y Accepted Accounting Practice Iunited ￿ngdoM Accixrntln8 STandards and gppticable lawl. Under company law thè trurtee5 must not approve the finarwl statemerts Unl￿ they are satlsfied that they we a true and fair Mew of the state of affairs of the char[tsb￿ compHny and gf the incorning resources and application of resources, Induding the Income and expendrture. of the tharitable tompary for that perlod. In preparing those financial statements, the tnjstees are required to select suktsble accountlng poliaesand then ap￿¥theM consIsten￿. oEiserve the mÈthods and principles in the Charities SORP: makÈludgements and estimates that a￿ reasonable and prudent; p￿pare the flnandal statements on the going oJrKern basls unless It is Inapproprlats to presume that the charitable company w11 I continue In buslness. The trustees are responsible for keeplng proper actounting record5 whlch dtsdose w￿h reasonable accuracy at any ttme the flnandal posltion of the charIta￿e company and to enable them to ensure that the flnan¢ial statements compfv with the Companies Att 2(#￿. They are also responsible for safeguardinB the assets of the charttable company and hence for tskin8 reasonabte step5 for the Prevent1(￿ and detection of fraud and other irregularlties. In so far as the trustees are a￿￿re. there is no relevant audit inf0rn)a￿ of whith the tharitable companvs 3uditors are unaware: and the trustees have tsken all steps that they CM4ht to havÈ taken to make themSe￿e$ aware irf any relevant almlit Informlun and to estsb115h that the auditors are awa￿ of that information. AUDITORS The audliors, Swindells LLP. wlll be prO￿d ftr rèrapwirktmerrt at the forthcoming Annual General Meeting. Approv1 by wdÈr of the board of tru5tee5 an.... Iq-Aff,l.a02L . and 5i8ned on its behaKbv: Mrs S L Major- Trustee Pa8e 10

Rewrt ofthe Independent Auditors to the Members of The Internatlonal College Of Orlentsl Me￿i¢1The IU.L} Unted Oplnlon We have 3udited the financial ststsments tJf The Intematfonal College Of Orfentsl Medldn@ IU.K.l LimltÈd Ith@ 'tharktsble companrfl for the year ended 31 August 2025 which comprise the Ststement of Financial ActTvtties, the Balance Sheet and notes to the finanaal 5tstements. I￿lUding a summary of slgnifi¢ant aecounttng policies. The financial reporting framework that has been akwlied in thelr preparation is applic3ble law and United Klngdom A¢countlng Standards Iunwted Kingdom Generalty knepted Accounting practi￿), including Flnancial Reportin8 Stsndard 102 The Financial Reporting Stsndard appllcable in the UK and Republlc of Ireland,. In ouropinion the flnanual Statèments: gSve a true and fair view of the 5tste of the charttabie compans affalrs as at 31 August 2025 and of its Incomlng resources and appltcatlon of rewjrces {￿UdIr8 its Ir￿1)me and expenditure, for the year then ended- have been propedy prepared In accordance with United ￿ngth)m General￿ N£cepted Accounting Pradce, including Financial Reporting Stsndard 102 Yhe Fknanual ReportÉn8 Stsndard appllcable in the UK and Republic of Ireland,; and have been prepared In accordon¢e wlth the reqU1￿Ments0fthe CompaniesAtt 2￿6. B•sisforunquallffed opinion We conducted our audlt in accordan￿ with Intemational Stsndards on Auditiro IUKI IISAs IUK)) and applicable law. Our respon5ibifitie5 under those stsndard5 are fvrther described in the Auditors, respornsibilitle5 for the audit of the financial statements sedion of our reporL We are independent of the charftable company In a￿Ordance with the ethical requirements that are relevant to our audit of the financial statemerrts in the UK, including the FRC'S Ethica1 Stsndard, and we have fulfilled cwr Oth￿ ethical re5pon5ibilitie5 in accordan￿ wlth these requirements. We believe that the audit e￿den￿ we have obtrined is sufficient and approprlate to Pfovide a basi5 for our oplnion. Concluslon5 relathi8tt*8oln8 ¢Ortcern In auditlng the financlal 5tatsments, we have ¢onduded that the trustees, use of the gdng contern basls of accounting in the preparation of the finanaal statements ts appropriate. Based on the work we have performed, we hwe not Mkntified any material uncertainti&s relating to events or condrtion5 thal indi￿duallY or collectivety, may cast signrflcant doubt on the chrttable cofftpanvs ability to continue a5 a going COn￿M for a period of at least twelve mnth5 fr￿n when the finandal statements are autho￿sed for tsslte. Our responsibilities and the responsibilities of the trL￿teÈS with res￿ to 80ing concern are descrlbed in the relevant 5ectlons of this report

Report ofthe IndepondertAurfrtor5 to the Members of The International College Of Orf￿tal Medidne IU.Ll Linmted Other Infor"matlon The trustees are ￿Ponsible for the other informthn. The other w)formation comprises the Informatlon Included in the Annual Rewrt, other than the flnantial 5tatsments and our Report ol the Independent Aud¢tors thereon. Our opinion on the financial Staterner￿ does not cover the other infomation and, ex￿pt to the extent otherwlse explicitly ststed in otsr report we do not eypress any form of assuran￿ conclusion thereon. In connection with (￿r audrt of the fina￿la1 ststemerts, our reswn5ibilty ts to read the other informatlon and, In doing so, conslder whèther other information 15 rnaterialiy inconsistent with the financi21 statements or our knowledge obtsined in the audti or otherwise appears to be materialty misstatsd. If we Identify such material inconsistenaes or apparent material mis￿￿ternents, we are required to determlne whether this gives rise to a material misstatement in the financial st3tements themse￿eS. If, based on th work we have performed, we condude that there is a Mater5￿ misstatement of thi5 Other infomiation, we ire reqUI￿d to reportthat fact. We have noth5ngto report in Ihts regard. OpInlor￿ on olhermatterJ pm¢rlJed by the Companle5Act Z()6 In pur opinlon, baseil on the work unrjertaken in the ¢tsurse of the audit: the information given in the Report of the Trustees for the financial year for which the financial statèments are prepared is tonsistent with thefinancial statements: and the Report of théTrustees has been prepared in accordan￿ th applicable legal requirements. Mters on which weare requlred to report ￿eXceP￿ In the Ilght of the knowledge and understanding of the tharltable company and its en￿ronment obtalned in the course of the audlt, we have rnit identified material msstatements in Report of the Trustee We have ntsthing to rewrt in respect of the following matters where the Companles Att 2CIJ6 requires u5 tD report to you rf. In our opinion- adequate accountir8 records have not teen kept or retyms adequate for our audit have not been re￿IVed from branthes not Vi51ted by u5: or the financial statements are not in agreementvith the accounting recorts and rebjms,. or certaln disc105ures of trustee5' remunerdtion 5pec¢fled ￿ law 3fe not made: or we have not receNed all the Infomation and explan3Eions we require for our audTtr, or the trustee5 were not entitlecl to tske advantage of the small companies exemption from the requirement to prepare a Strdte8ic Rewjrt or in prepartngthe Reportof the Trust Page 12

Reptyt ofthe Indeptndent Audltors to the Membets of The Intsmatlonal Cdtege Of Orientsl Medicine IU.K.l Llmlted Responslbllitles of irusiees As explained morè fijlly in the Ststement Df Trustees. Responslblllties, the trustees (who are also the ￿1￿ctOrS of the Charitable company for the purposes OF company lawl are respO￿l￿1e for the preparation of the flnancial statsments and for being Satisfied that they give a true and fair view, and fcy suth internal control the t￿Stee5 determine b neo55ary to enable the preparation of finanoal statements that are free from material misSt3temenL whether dueto fraud or error. In preparing the finanual statements. the trustees are responsible for ass¢55ing the choritsble company'5 ability to continue as a going concern. dist1051n& as a￿¥cable. matters related to going concern and using the golng concern bas15 01 accounting unle55 the trustees either intend to Ilquid* the charltable company or to cease operation5, or have no reali5ticaEtern8tive butto do so. Page 13

Re￿rt￿ the Indepethrt Auditorstothe MeIn￿￿ of The Intemadonal College Of Orfental Medldne IU.L) Linited Our responsibllltles forthe a￿01the financlal smements Our obRctlves are to obtsin reasonab￿ assuTrnce a￿￿t vthÈther the financial statements as a wtrtole are free from material mlsstatement, whether due to fraud or error, and to issue a Re￿rt of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assuranc8, but is not a guarantee that an audit conducted in accordance witsT ISAS IUKI will ahvays detert a materlal misstatement when ft exÉ5ts. Misstatements can arise from fraud or ￿or and are conside￿d materfal rf, individually or in the agsregate, they codd Trason8bty.be exFCted to.Influence the etonomlc decisiots of (￿15 taken un the bas15 of these -financial statements. Irregularktles, In¢luding fraud, arè instances of norpcompliance with law5 and regulatlons. We design procedures In Ilne wth our responslbllities, wtlined above, to detttt material mi5Statements in ￿SPeCt of irre8u13rities, including fraud. extent to wh￿h our Procedu￿ are capable of detealng irregularltles, including frdud is detailed below: the company's inti)al controls havè ien disojssed wtth rTianagement and understood prtorto our aud￿ testing. Internal controEs ha￿ been tested thrtyjgh walkthrough testln& to assess whether controls are a(kquate. whether they a￿ being fdlowed, and whether IrregUlar￿@S and fraud are prevented. defiaencies in intemal controls have been hi8hllghted and explained to mana8èmént, along wlth recommendatlons asto how deficiendes can be improved and the rfsk of Irregularity and fraud otturrence minimi5ed. representations have been provKled by managementthatthere were no hlentified cases of fraud or Instances of non-compliance duringor since the accounting period. substantive testing h35 ￿en carried out to testthevalidty of transactions, entries in the accounting system vouchedto Co￿eSpOndingthErd party d￿MentaliOn atKI ev1den￿ of appropriate author153tion. Because of the inherert limitations of an audit, there is a risk that we ￿11 not detect all irregularitse5, includSng those leadlng to a material mlsststement in the finandal statements or non•compliance with regulatlon. This risk incre￿e5 the more th compliance with a law or regulation 15 removed from the events and trans*ions reflerted In the finanaal statements. •5 we will be less likely to LEcome aware of instances of non-compliance. The risk 15 also greater regardlng Irregularities (￿cur￿rng due to fraud rather than error, as fraud involves intenttonal concealment. forgery• collusion, omlsslon or misrepreqentatlon. A further description of our responsibllities fLY the audit of the financial ststements 15 located on the Financial Reportlng Q)unul's website at W￿.frC0r￿UV3udltorsreSW)nSibil1ties. Thls destription forms part r)f our Report of the Independent Auditors. Page 14

Rwt of Indq)endent Audltorsto the Members of The Internat5onal Colw Of Orientsl Medldne {U.L) Limlted Use ol our roi This report is made solely to the charitsbk wnpanvs nEmber5, as a body. In acurdance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our aLJdtt work has been undertaken so that we mlght state t¢ the charIta￿e cornpany's members those matters we are required to stste to them in an audr(ors' report and for no other purpose. To the fvltest extent permitted by law, we do not accept or dSsume responsibilty to anyc*ne other than the charltable company and the charltable company's members a5 a body. for our audit worK for .. this.lQPQrtrfir For-theopinions we have fornied. Joanna G￿en Bsc FC4 Isertiorststutory Auditor) for ¥nd on behalf of Swindells LLP Chartered Accountsnts and Statutc•ry Auditor Atlantlc House 8 Bell Lane Bellbrook Industhal Estate Uckfield East Su￿eX TN22 IQL Date: ...,....... Page 15

The Int•mlry￿I Ce Oforlental Metldne111.Ll Umlted ststemffit ofFTnanthl Actrkn ft¥ theyear Ended 31 2025 2025 Unrestrtcted fvnd 2024 Total fund5 as regt*ced Notes INCOMEAND ENDOWMENTS FR(XA Donatipns and legacles 6.717 85,303 Charltable artlvlties Charitable activities 335,663 294,871 Investment income 9.309 8,259 Total 351,689 388,433 EXPENDtruRE ON tharits￿e artivltle5 Staff costs Direct projert ¢osts Premises costs support costs Governance eostS Charltable ￿tivitieS 243.415 40,182 26.820 39,266 6,174 2,010 222,761 24,638 39,776 5,220 Total 357,867 296,360 INCOMEIIEXPENDrruRE) 1&178} 92.073 RECONaLIATION OF FiINDS Total fund5 brought fotward 539,722 447,649 TOTAL FUNDS CARRIED FORWARD 533,544 539.722 The notes forni part ofthÈse financlal swèments Page 16

31 A￿2025 2025 Unrestrirted fund 2024 Totsl funds as reststed .IXEDASSErs... ...... .. .. .._ Tangible assets 395,506 381.019 CURREKfASSEfs Debtors Cash at bank 28,036 249,223 104,712 151,110 277,259 255,822 CREDITORS Amourrts falllng due wfthin one year 14 1ts9,2211 197,1191 NEf CURREKf ASSEIS 138,038 158.703 TOTAL LSSEfs1I55 CLIRRENf UABILrriES 533,544 539,722 N￿AssETs 533.S$14 539,722 FUNDS Unre5trltted funds 18 533.544 539,722 TOTAL FUNDS 533.544 539,722 These financial statements been prepared in accorda￿e with the provisions applicable tts tharitabte companles subiertto the smau companies regime. The finandal ststeme were approv￿ by the Bowd of Tjusttts and authorised for 1$5ue on and were signed on its behalf by. SLMal - Trus The note5 form partofthgseflnancial statèments Page 17

IU.Ll Lhrfted trtheYwEnded 31 A4wI 21JZS AccouffflNG pouaES Basis tsfp￿pa￿nithefinandal ststemerts The finanaal statements of the tharitable company. whth ￿ a pubfK benefft entity under FRS 102. have en p￿pared in accordance with the Charfties SORP IFRS 1021 'Accounttng and Reportlng by Charltles: Statement of Recommended Prath￿ applicable to tharlties preparing their aecounts in accordar wtth the Financial Rewrtin8 Standard appllcabie in the UK and Republic of I￿land IFRS 1021 (effective I January 20191,, Financlal Reporti￿ Stsrthrd 102 Yhe Finanaal Remin8 Standard ap￿[Cable In the UK and Republk of IrelaThY' and the Companle5 Act 2rxK. The flnandal statsments have been prepared underthe historical cost c9n￿￿tIon. The flnanc5al ststements a￿ prepared In stetlln& whkh ts the fijrtcbonal ¢urrerKy of the ¢harrty. M¢)netsry arnounts in the fina￿la1 statements are rounded to the nearest£. Juiements and key SoU￿S ofestlfftath￿ urKertthty In the applicatlon of the charitys accounting w)liae5. the trustee5 are fequlred to make Judgments, estimates and assumptions aiwt the carTwn8 anKwnt of assets and liabilities that are ftot readlly apparent from other sourw. The estimates assCThted ￿UmptIOnS are based on historical experlence and other facto￿ that are constdered to be rel￿nt PLtual results may drffer from these estimates. The estimates and undertying wumptions are wewed on an onBoing basls. Revislons to accountlng estimates are recOgn￿e￿ In the perlod In whlth estimate ts revtsed where the rev151on affects only th4t perl¢xl, or in the perlod of the revisi￿ and future peri(xls where the reM5ion affects both current and future perfods. All income is reCO￿lSed in the Ststement of Finanaal ActiV[t￿5 On￿ the charity has entitlement to the fund5. It is probable that the Incomeill be ￿e1ved and the amount can be measured reliably. Grant Income Grdr)ts are Credited to the statement offinancial actl¥itsw￿ft the d￿rity 15 enttded to the lund5. Where entttlemerrt to grants rece￿able 15 dependert upon fijlfilment of CDndiUons wlthin the charttvs control, the Income Is recognlsed when there is suffiaemvAder￿that condklons 7MII be met Grants SLpporting the core acbwtses of tt tharfiy arKI with specific restrlctions placed upon thelr use are Included wlthln donations and legaaes. Grant5 that have specific Yestrktlons placed upon their usè are induded wlthln Income from tharfttb]e actMtEes. Capital gr3nts for the purrhase of fixed assets are credited to restricted Incomlng resources on the earlier date of when they are rec￿Ved or receivable. DepreciatKn Lf the related fixed assetsls char8ed aghiftst the restricted fiJnd. Donatlws ¥xl le8ades continued...

fortheyear Ended 31AW 2025 ACCtXINTIN6 POLICIES- contlnued IrKome tXJnatlon5 are reCO￿tsed in the wiod In whlch tly are reth•d. Lw Income Is rewnlsed when the tharity's entltlement i£ judged to be probable and ¥¥here amount can be relIab￿ moa5Uf&J. Income froni charitsble activltses Indude income recogntsèd as earned jas the related Eotsds and seNces are provldedl undercorttracL investmont Imcome Investment income is induded when receivab ExpendltUTe recognlllon ExFonditure i4 recwised On￿ there is a legal or con#ructhE obligation to make a payment to a third party, it ts probable that settlement wlll i requi￿￿ and the amount of the obIl￿tIon can be measured rellably. Expenditure is das5ffled underthe foltowng activ1tyhead1r￿s. al Cost of rdlslng fvnds ￿MpriSeS costs of see￿iti8 ()nations aThJ carrytrgoutfundraising actlvFties and their a55￿(ale￿ support costs. bl Expendttijre on charttable artmties indude eypendtiure assocwted wtth the main oblettlves of the charttyand indude both direLts costs and thelr assc¥i8ted support cost& Allootlon afsupportcosts Support ￿sts are those funchon5 that assist the work of the tharity but do not directly undertake charitable aLtNitles. Support irKlude back office costs. finaTKe and administration petsonnel, payroll and govemance costs whl¢h support the thariws programmes and activlties. These wsts have been altocated ￿ween cost of ralslng fiJry15 and ex¥*nditure on tharitable act5v￿1￿. The basss on which supportC05ts have bw allocated are set out In note 6. r￿lts1ef￿ed a55et5 Depreciation Is pro¥Sded at the f￿10￿Ing annuat rntés In tyder ts Writè off eath asset over Its estlmated useful life. Freehold propertv Library Fixtur￿ and fittings Computer eouipmert 15% on reduang balan 15% on reduuw baEaKe 15% on reducing balance 25%on reducire balarKe Freehold property is depreclated on the Ic£ cabin elerI￿t and other freehold Improvements from 2021. The gain OF1055 ari￿1￿ on the dlsp05al of an asset Is determIr￿d as the diffe￿n￿ between the IÈ Pr¢￿eedS and the carrywig Wdlue of the and b reccwtsed Sn the ststement of financial activlties. C¢￿Inued...

V4thdnelU.L) Unmted AccourirNG pouaES.rDnthwed Taxatlon The charity 15 exemptfrom cwporationtax on its charitslAe activltie Funds 3c(fj The general fund comyises those mcffiles ¥knlch may be used toward meetlng the charttsble Object￿e5 ofthe company atthe dwetion ofthe Management Bc13rd. The restrfrted fvnds are mnie5 raised for, and their use re5trthd to, a specific purpose or donations subjfct to donor-imposed condition The thar6tsble company operates a defined contrfbufjon pension sd)eme. Contributions payable to the charitsble company's penskjn scheme are th)rged to the Stat￿￿nt of Finanual kttvitie5 in the period to which they relate. vo￿nteerS and donated wAcesind fadRtks Oonated professional servlces and donated facilths are recognised as irKome when the charity has control over the Item, any Cond￿10￿$ asSth￿8ted wtth the don3ted Item have been met, the receipt of economic benefft from the use by thÈ charity of Item Is probablè and that ea￿￿1C beneflt can be measured reliab￿. In accordance vAth the Charities SORP IFRS 1021, the general volunteer time 15 not recognlsed and refers to the trusrees, annual reportfor more Infonytation abouttheir contrlbutton. On recelpt. donated professh)nal and doriated fKllitles are recffjni5ed on the ba5i5 of the value of the gift to the charity whlch Is the amount the charity would have been willin8 to pay to obtain semees or faalitse5 of equivalent ecorKxnic benefit on the open marke¢ a ¢orrespondlnB amount is then recognF5ed in expenditure in the peri(xl of recelpL Trade and other debtors are recognised at the sèttiÈmert amount due after any trdde dis¢tyJnt offered. Prepayments are valued at the amount prepald netof any trade discounts due. Cash at bank and In hand Cash and cash equwalents Indude cash in hand. deroslts hekl at call th banks other sFiort.terrn Ilquld investments with original maturities of three months or les and bank overdrafts. Bank overdrafts are shown wrthin bmiwings In current Ilablltties. Credltors and Creditors and provisions are reco￿lSed when the charlty has a legal or cor&rucriye present obligatlon as a result of a past event. it Ès probable that the chartty will ￿ required to settle that obligation and a r￿la￿e estimate can bè made of the amountofthe obligation. Page 20 continued...

Tho Internath)nal College Oforfen Medldne IU.Ll Limited Notestothe Hnandal Statennts. contlnued ft>rthe Year Ended 31 Awt 2025 AccouKfiNG pouaES- contlnued Dèbtors The amosArt recognised as a pr￿lS7on 15 the I￿St estimate of the o)nsideration require(I to settle the present oblÈgation at the reportin8 end date. taknnB into aceount the rfsks and unortaintS4s surrounding ..the 0￿￿gatiOn. .Where the effett of. the time Wdlue of morw is materral, the amount experted to be required tQ ttle the obligation is re¢ogniged at present walue. When a provision 15 Theasured at present value. the unwinding of the dlscount Is recogntsed as a finan￿ cost In net 1ncome1lexpend￿ljre> In the perfod Sn whlch it arise5. An￿(la1 in#ruments The chartry has elected to apply the prowsions of Section 11 'Basic flnantial Instruments, and Sertion 12 'other flnancial Instruments ￿SueS, of FRS 102to all of its finanaal instrUM￿ts. Financial instruments are recwi5ed in the d¥iiiVs baLa￿ sheet when the charity becorne5 party ts the contrdcLual promsions of the in5lrument. Financial awts and Ilablllties are offset, with the net am(wnts presented in the financial statements, when there is a legally enforceable right to set off the Kec(wised amounts and there is an Intentlon to setde on a net basis orto real￿e the asset and 5ettlethe liability simultsneou5ty. Cash fl*y4V Statunent The charlty quallfles a5 3 small company and advantage has been tsken of the exemptlon provlded bv 50RP IFRS 1021 a5 amended by 8ulletEn I notto prepare a cash low Stato￿nt. DONATIONS AND LEGAaES 2025 2024 as restated Legacies Grarrts 85, 1,717 303 6.717 85,303 Grdnts re￿1Ve(l, Indud&l In the above. are asfoll 2025 2024 as restated Grant for boiler 1.717 303 Page 21 cortinued...

Methcine IU.ILI Urthied Note5tothe Hnwdalstatements. (m￿nUed forthe YwEnded 31AW2025 INVESTMElff INCOME 2025 2024 as restated Deposit accwnt Intsrest 9,3(B 8,259 INCOME FROM.CHAiirrABiE AcnvmES_ 2025 2024 a5 restated Student fees PostgradLt*e fees Cllnl¢ fees Sundry receipts CharitaNe actJvltles Chaiitable ￿NitIeS Charitable actfrfittes Chaiitsble aCti￿￿e$ 206.547 73J4 y),oio 5522 219,861 14,851 50,227 9,932 335.663 294,871 SuF)POrt CQ5ts (see note Sl Dlrect Costs Totals stsff costs Direct project costs Premises costs Support costs Governan￿ costs Charltabl¢ actknties 209,603 40,182 26.820 33,812 243.415 40,182 26,820 39,266 6,174 2,010 34.882 174 2.010 282,993 74,868 357,867 Page 22 continued...

The Intemational Collegeof Orlent41 MediLine IU.Ll Umlted 14otestothe1lnanaal Statempnts. conlinuad SUPPORT Costs Governance costs Managerrtht Totals Staff costs sUp￿rt costs Governance costs 33R12 34882 33,812 34,882 6,174 6,174 68.694 6,174 74,868 Support costs. Included In the above, are asfollows: 2025 2024 as restated Total activitie5 stsff pport Gtyeman Totsl aciiv¢ties Wa8es In54trdnce Telephone Postrge ind statlonery Adverti￿n8 Sundrles Trovellin8 bscrfption5 Professional fees Bank charges Bank loan intsresi Depreciatlon of tan￿ble and heritage a55et5 Auditors, remuneration 33,812 33A12 7,103 2,233 2,959 I￿53 7599 1.330 1.158 30,075 8.716 2,112 2.517 1,696 7,S81 1226 1,781 7,103 1233 1959 1.853 7.599 1230 4,083 1,976 922 6564 6564 6.174 5,819 5.220 6.174 33￿ 34W2 6,174 74.868 70,654 Page continued...

Me￿Ine ILI.L) Umlted NEf INCOMVIEXPENDrruRE) Net Incomellexpendlturel 15 Staled after tharginyjlcreditng): 2025 2024 as rèstated Auditors, remynerati¢n Depreclatlon-owned assets 6.174 6,5fJ4 5,220 5,818 TRusfEES' REMUNERArnN AMD BENEFfr5 During the year. two tnJstees recdved remuneratlon of £49,967 12024: £56ffj411 lo￿ trustee for acting 3$ Princlpal and for pro¥idingts￿hi￿ sen*ic4 a￿1 one t￿￿e for provtdingteachingseNkesl There were no tsijstees, expenses patd for the year ended 31 ALF8USt 2025 nor for the year ended 31 Au¥u5t 2024. srAIT COSTS No employee weived remuneration in excess off￿￿))dUrin#the year. The kty management personnef of the charity for the finarKial year eompr(sed of the Principal, Director of Studies, General Manager, Student Admlnlstrator and Communications ExecutNe. The total empl¢)yee benefFts ofthe key management personnel ofthe thaiity were U24,977.12024.. È126,587) The average number of full time equivatent emplobees was & The average monthty numberof perso￿ employed by charity durJn8the year was 20 (2024.. 191 Page24 contlnued...

The lrtffnatlon CO￿ th Orkntsl Medktne (U.L) Liwjted frtt*Ye¥ Ended 31 Awt 2025 IIX COMPARATIVFS FOR ThE STATEMEpifoF FINANaAI p£ri Unrestricted fund as restated INCOME AND ENDOWMEiifs FROM Donations and legacies 85,303 Charltsble acll Charrtable activitie5 294,871 Investment income 8,259 Total 388,433 EXPENDITURE ON Staff costs Dirert projettctyts Premises costs Support costs Governance costs 221761 3,965 24,638 39,776 5,220 Total 296,360 NEf INCOME 92,073 RECONaLIATION OF FUNDS rotsl funds broughtfoNrArd 447,649 TOTAL FUNDS CAIIRIED FORWARD 539,722 Page 25 contlnued...

Medklne IU.L) ilnlted 11. PIUOP YEAR ADJUThIENr In the prityyearstudentfees were0verS￿ by £12.3￿1. The impact IS to reduce net In¢ome and reduce totsl funds bythis amount 11 TANGIBLE RXEDASSErs r￿bJreS and fitting5 Freehokl CcvnpLrter equÈpment Library Totsls At I September 2024 Additions 405.728 13,469 650 IA91 27.251 5,902 507.091 21,051 At 31 August 2025 419.197 33,153 528,142 DEPREaATION At I September 2024 Charge tor year 29334 5,433 7,920 62,067 26.751 361 126,072 6.564 At 31 August 2025 34.767 62,758 27,112 132,636 NET BOOK VALUE At 31 Augitst 2025 4,551 6.041 395,506 At 31 Au8USt 2024 376,394 374 3.751 381,019 DEBTORS: AVA)upirs FAUING DUE (VIEYEAR 2025 2024 as resEated Trade debtors Other debtors Prepayments 7,536 5,042 15.458 6.835 85,CC 12,877 28.036 104,712 Page 26 continued...

The lrtunatknn CokEeOfOrfental MedKine IUXI Lkvlt¢d Pkntssto the fmnclal Statern. contlnwd fortheYwErthd 31 AW ZD25 14. cRED￿ORS. AMOUNT5 FAWNG DUE wrriHN (X4EYEAR 2025 2024 as restated Bank loarks and overdrafts note 151 Trade credltors Social security and othertsxes Other Cre￿￿Or5 Accrued exper￿eS Deferre(I government gfants 5,312 3,950 3,615 76,645 5,880 1,717 4,615 125,527 6,174 139.221 97,119 LOANS An analysi5 of the maturÉtyof ￿Or￿l$s1¥en bekMT: 2025 2024 as restated Amountsfallin¢ due within oneyearon demand: 8ank loans 5,312 I& LEASING AGAEEMEfiTS Miftlmum lease payn*nts under non-can￿1ab￿ operatlng leases fall due as follow5: 2025 2024 as restated Wlthln one year Between one and five years 5,760 7200 Page 27 continued...

The Intenmtlonal CoHe#e Of Orfentsl Modldr IU.L) Lknlted forthe YearEnde4131 Awtyt 2025 17. SECURED DEBTS The bank ban is seojred b¥ a flxed charge dated 14 JanLtary 2020 over the freehold property of the tharity. )VEMEpif IN FIJNDS Net rrrfjvement In fvnds At 31,8,25 At 1.9.24 Unre5trictod funds General fund 539,722 16.1781 533,544 TOTAL FUNDS 539,722 1&1781 533,544 Net movernent In fun￿ irtluded in the alxJb are as folknys.. Ir￿QmIng Resources expended Movement In funds ljnreslrkted f￿d$ General fvnd 351.689 {557.￿} 16,1781 TOTAL FUNDS 351.689 1357A671 16,1781 Comparatlvesfor mty4emert In fix￿5 Net movement in fumls At 31.8.24 At L923 Vnrestrfrted funds General filnd 447.649 92,073 539,722 TQTAL FUNDS 447.649 92.073 539,722 cOn￿n￿ed...

The IntpJnational Colle8e Of Orlental medId￿ (U.L) lknlted Comparative net In funds. IndLKled in ts above areas follows: Incoming resources Resources expended Movement in funds Uftrestrlctsd fund5 General fund 388A33 1296,3601 92,073 TOTAL FUNDS 388,433 1296,3601 92,073 A currentyear 12 months and prioryear 12 mcffrt￿ Combined positkn Is as follow5; Net nM)vement Infund5 At 31.8.25 At U23 General fvnd 447,649 85.895 533,544 TOTAL FUNDS 447.649 85.895 533,544 A current year 12 months and prior year 12 months Comb1r￿ net M￿ment in fvnds, Sncluded in the alJ)ve are as follows: Incoming Resources expended Movement in funds Unreslrlrted f￿d5 General fund 740,122 1654,227} 85,895 TOTAL FUNDS 740,122 1654,2271 85,895 contlnued...

Medicm (U.L) LiThthd Pkntes tothe FJwKlal Ststements. conllnued RELATED PARTY DISCiOSURES Paymentto trustees and key management personnel a￿ d4sclosed In note 8 & 9. Page 30

The International College of Oriental Medicine (U.K.) Limited

AUDIT FINDINGS REPORT

March 2026

THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

INTRODUCTION AND SUMMARY

This report summarises our key findings in connection with the audit of the financial statements for The International College of Oriental Medicine (U.K.) Limited for the year ended 31 August 2025.

Audit approach

Our work was planned and performed in order to issue an audit opinion on the financial statements in accordance with International Auditing Standards on Auditing (ISAs) and the terms of our letter of engagement. Our audit approach is a risk based approach. Founded on us gaining a thorough understanding of the entity and its business in order to allow us to identify the risks of material misstatement within the financial statements. To do this, we consider both the risk inherent in the financial statementsthemselves and the control environment in which the entity operates. We then use this assessment to develop an effective and efficient approach to the audit.

Limitations

Our audit procedures which have been designed to enable us to express and opinion on the financial statements, have included an examination of the transactions and controls thereon.

Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate on the circumstances, but not for expressing an opinion of the effectiveness of internal control, or to identify any significant deficiencies in their design or operation.

We have included in this report, only those matters that have come to our attention as a result of our normal audit procedures and consequently, our comments should not be regarded as a comprehensive record of all deficiencies that may exist, or improvements that could be made.

Overall conclusion and opinion

At the time of issuing this report, we anticipate issuing an unqualified opinion on the financial statements.

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

SIGNIFICANT AUDIT RISKS AND OTHER FOCUS AREAS IDENTIFIED DURING AUDIT PLANNING

We set out below the significant audit risks and where applicable, other key areas of focus for our audit, identified at the planning stage.

----- Start of picture text -----
Area How we addressed this Commentary
Presumed risk in We planned and performed specific tests to The results of our
revenue recognition ensure that income had been recorded in planned audit work are
the correct period and tested a sample of considered to be
transactions around the year end. satisfactory in this area.
There is a risk of
incorrect treatment
of income under UK Our review included an assessment of the
GAAP appropriateness of recognition of trade
debtors, accrued and deferred income.
Presumed risk of We considered and reviewed all areas The results of our
management requiring judgement or estimates in order to planned audit work are
override assess the appropriateness of the considered to be
judgements and estimates made by satisfactory in this area.
There is a risk of management.
misappropriation of
assets and the We reviewed and tested journal entries
misinterpretation of made in the year and in particular, those
financial information made as part of the year end financial
reporting process. Where necessary, we
made further enquiries regarding any
seemingly inappropriate or unusual journals
or other adjustments.
Risk of the We reviewed cashflow forecasts post year The results of our
appropriateness of end. planned audit work are
the use of going considered to be
concern satisfactory in this area.
We carried out procedures to enable us to
evaluate the viability of the entity and the
There is a risk that recoverability of debts.
the entity will be
unable to continue to
trade
----- End of picture text -----

ACCOUNTING AND AUDIT MATTERS

Summary adjusted and unadjusted misstatements

Details of adjusted errors can be found in the appendix to this report

We consider that the additional amounts are not material to the financial statements and therefore non adjustment will not lead to the accounts being materially misstated.

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

Letter of representation

The ISAs require us to obtain written representations from the trustees when you approve the financial statements.

INTERNAL CONTROLS

During the course of our audit, we identified the following control points that we feel need to be brought to the attention of the trustees and certain recommendations for improvement or corrective action.

Our audit included consideration of the internal controls relevant to the preparation of the financial statements, in order to design audit procedures that are appropriate in the circumstances, but not for expressing an opinion on the effectiveness of the internal control or to identify any significant deficiencies in their design or operation. The matters and detailed control points that we have identified are graded within the following framework to assist the trustees in assessing their impact.

----- Start of picture text -----
Rating Rating type Characteristics of rating type
Significant These findings are considered to Key control omitted
be significant to the Key control not designed or
management of risk in the operating effectively for
business. The finding represents example, as indicated by
a serious weakness in systems multiple exceptions found
and controls currently in place during our review work
or a potentially fundamental Evidence of override of
control that has been omitted controls in place with
from the risk management significant or potentially
systems as currently in fraudulent outcomes.
operation. Non compliance with laws
and regulations
Important Important findings that should Errors or exceptions noted
be reviewed by management, during our testing that had
pending corrective action been corrected
and/or updates to systems and retrospectively during the
controls year by management
Potential improvement to
existing controls noted
Possibility for override of
controls exists
Our review noted numerous
exceptions but not in key
controls
Limited Findings that identify non Minor control weaknesses for
compliance with established example, limited exceptions
systems and controls noted during our review work
Advisory Items requiring no immediate Information for department
action, but which may be of management
Control operating but scope
for efficiency and/or
----- End of picture text -----

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

----- Start of picture text -----
interest to management or best effectiveness improvements
practice advice exist
Control operating but not
necessarily in accordance
with best practice
Recent or anticipated
developments may
necessitate new controls
----- End of picture text -----

We wish to bring the following matters to your attention:

Finding and risk
Our work identified
that there was no ID
held for two of the
employees that we
checked.
It is a legal
requirement to
check that all new
employees have the
right to work in the
UK.		 Recommendation
We suggest that ID be collected
from employees during pre-
employment checks and held on
file.		 Management response
Finding and risk
Our work highlighted
that there was no
formal authorisation
of bank payments or
purchase invoices,
and it is done
verbally
This could lead to
errors or
misunderstandings		 Recommendation
We suggest that the trustees
implement a formal policy for
authorisation,
and
clear
documentation to show approval
and segregation of duties.		 Management response
Finding and risk
Our work identified
that sometimes
repairs appear to be
capitalised
incorrectly.
This could lead to
fixed assets being
overstated.		 Recommendation
Only capital items should be
capitalised. There should be a de
minus for capitalising items, for
example no item below £100 to
be capitalised.
A capital item is an improvement
not just a general repair.

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

Finding and risk
Our work identified
that signed copies of
employment
contracts were not
held on file.
There is a possibility
that this could lead
to disagreement and
legal issues.		 Recommendation
We suggest that a copy of the
signed employee contract is kept		 Management response

EMERGING ISSUES

Accounting standards

January 2026 will see the biggest change in Financial Reporting Standard 102 (FRS102) since its introduction over a decade ago.

The updated standard can be applied earlier than January 2026 provided all amendments are applied at the same time.

Related party transactions

There have been significant revisions to the disclosure of material transactions not conducted under normal market conditions with related parties. The amendment covers the judgement of what constitutes normal market conditions and materiality, as well as expanding the definition of a related party to mirror that which non small companies were previously using.

In practice, this means that all transactions with related parties will now be disclosed in small company accounts, unless they are between two or more members of a group where the subsidiaries are 100% owned. companies controlled by the same person, will now need to be disclosed, irrespective of whether they are conducted at market rate or not.

The disclosure required is:

The nature of the related party relationship

Accounting for leases

Amendments have been made to the disclosure requirements for lease accounting. As a result, any reporting entity which has the right of use of an asset, will have to disclose the opening net book value to the closing net book value including all movements in the year. accounts will show an asset and a liability in respect of leases.

There are two exceptions if the leases are short term or of low value. Such items might include laptops, tablets or small items of office furniture.

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

The FRS provides a list of assets which would not be considered to be low value:

Revenue recognition

Detailed disclosures will also be required on revenue recognition. The company will have to disclose when it typically satisfies its performance obligations (e.g., upon delivery or as services are rendered), the significant payment terms and the nature of goods or services transferred by the revenue contract, including where the company is acting as agent for another party.

Share-based payments

Historically small companies had no specific mandatory disclosure requirements for share based payment transactions, although they may have presented them to achieve a true and fair view.

The amendments to FRS 102 require that the following disclosures are made:

Provisions and contingencies

Under the previous version of the standard, small companies were only required to include disclosures about contingent liabilities however, they must now include the same disclosures as a company applying full FRS 102.

Therefore, all small companies with provisions will be required to present a reconciliation of the opening and closing balances, along with descriptive disclosures covering the nature and timing of the obligation and any uncertainties and reimbursements.

Additionally, disclosures will be required for contingent assets and financial guarantee contracts, although these would likely have been included historically to give a true and fair view.

Taxation

Additional disclosures will now be required in respect of current and deferred tax. The updated standard requires that a small company discloses separately, the major components of its tax expense or income.

Examples given of categories to be shown separately include:

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

Companies will also be required to present separately the aggregate tax amounts recognised in other comprehensive income or equity.

Other disclosure is required which disclosures the split of deferred tax liabilities or assets at the balance sheet date, into each type of timing difference and state the amount of unused tax losses and credits where not recognised as deferred tax assets.

Dividends

Previously, it was not required and therefore uncommon for small companies to disclose dividends declared and paid or payable during the reporting period, however the changes to the standard now require this disclosure mandatory.

Changes to encouraged disclosure

Under the previous edition of the s , which were not mandatory.

Appendix C to the standard, which sets out mandatory disclosures for UK small entities, has been expanded to include the previously encouraged disclosures, along with additional mandatory disclosures.

Going concern - where a company is a going concern, it must disclose this fact as well as confirmation that management has considered information about the future and any significant judgements involved in the assessment.

Where a company has material uncertainties that cast doubt on its ability to continue as a going concern, details of these uncertainties must be disclosed.

When a company is not a going concern, this fact must be disclosed together with the reason why the entity is not a going concern.

Compliance with FRS 102 - a company must also include an explicit and unreserved statement of compliance with FRS 102 Section 1A.

Public benefit company - a public benefit company must make an explicit and unreserved statement that it is a public benefit company.

Gains or losses in other comprehensive income the wording has been changed to emphasise that a statement of total comprehensive income may need to be presented to give a true and fair view, where previously it was simply being encouraged.

Changes in equity other than profit/loss the wording has been changed to emphasise that a Statement of Changes in Equity may need to be presented to give a true and fair view, as opposed to being encouraged.

Disclosures required on transition to this FRS Existing FRS 102 1a - preparers will need to include in the first set of financial statements applying the amendments to FRS 102 the following specific disclosures:

8

THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

Company size threshold

Changes to UK company size thresholds come into effect from 6 April 2025. The new thresholds for small and medium size companies are:

----- Start of picture text -----
MICRO SMALL MEDIUM
Previous New Previous New Previous New
Turnover not more than: £632k £1m £10.2m £15m £36m £54m
Balance sheet total not more than: £316k £500k £5.1m £7.5m £18m £27m
Monthly average number of employees, not 10 10 50 50 250 250
more than:
----- End of picture text -----*

As a result, many companies will find themselves classified as small rather than medium size going forward and some companies will fall out of the audit regime.

reports:

the use of financial instruments

Financial reporting

A periodic review of UK accounting standards was published in September 2024. It highlighted disclosure on judgements and estimates, cash flow statements, financial instruments, revenue reporting and presentation of financial statements.

The report reinforced the continuing relevance of clear and consistent disclosures about the effect of forecasts

UK corporation tax

The rate of corporation tax in the UK increased to 25% from April 2023, applying to profits over £250,000.

The Finance Act 2021 introduced a small profits rate (SPR) of 19% for companies with profits of £50,000 or less from April 2023. Companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by a marginal relief, providing a gradual increase in the effective corporation tax rate. The lower and upper limits will be proportionately reduced for short accounting periods and where there are associated companies. The SPR will not apply to close investment holding companies.

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THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (U.K.) LIMITED - AUDIT FINDINGS REPORT

National Living/Minimum wage

The National Living Wage increased from £12.21 to £12.71 per hour from 1 April 2026. The National Minimum Wage rates also increased to £10.85 per hour for those workers aged 20 and under, up from £10.

Charities Act 2022

On 24 February 2022, the Charities Bill received Royal Assent and became the Charities Act 2022 (the Act).

The Act made amendments to the Charities Act 2011 in a number of specific areas, largely in response to the recent Law Commission review of charity legislation and with the overarching objective of making life simpler for smaller charity trustees, as well as harmonising certain procedures, such as which charities operate. The final major provisions of the Act were scheduled to take effect on 19 May 2025:

Ex gratia payments

Trustees will be allowed to make small payments of up to £20,000, depending on income without Charity Commission consent. The exact implementation date for this is still pending confirmation and the government has confirmed further delays to the implementation of these changes.

The Charities (Annual Return) Regulations 2024

The regulations apply to all registered charities whose accounting year ends on or after 1 January 2025.

Key updates include the removal of questions in the locations and structure sections of the return form.

Reform consultation

The Law Commission has recently sent out a consultation on reforms to cooperatives and community benefit societies. The key question was whether these organisations should continue as exempt charities or be required to register with the Commission. The results of the consultation are yet to be announced.

A consultation on financial thresholds in charity law was published in April 2025 and closed on 12 June 2025. The result of the consultation should; be published by mid September, together with the

AUDITING DEVELOPMENTS

New regulations took effect from 1 June 2025 requiring an audit firm to notify the Institute of Chartered Accountants in England and Wales when appointed to certain complex or high risk audits.

There is also a new requirement for sole practitioners carrying out audit work to appoint an alternate.

10