UNITED LEARNING TRUST

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After making appropriate enquiries, including full consideration of the current economic climate, the Board of Directors has a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of approval of these financial statements. ... For this reason, it continues to adopt the going concern basis in preparing the financial statements.”

Group structure

1. UNITED LEARNING TRUST · parent
   1. ULT Projects Ltd 100% · England and Wales · dormant
   2. ULT Trading Company Limited 100% · England and Wales · letting of school property, leisure centre operations and the sale of school uniform

Significant events

• “As of 31 August 2025, United Learning - the trading name of the Charitable Group - comprises 14 independent schools.operated within United Church Schools Trust ("UCST"), 92 state sector academies and 2 standalone nurseries operated within the Charitable Company and a central office function that serves all our schools.”
• “In September 2024, Ofsted changed the way it graded schools, removing overall judgements and instead providing graded judgements for each individual area assessed.”
• “Over the course of the year, the Board made the decision to establish United Communities as a registered charity, marking a significant milestone in our journey to broaden and deepen this work. The charity is a subsidiary of UCST, and operations commenced in September 2025.”
• “Over the course of the year, we welcomed two schools (educating over 1,100 pupils between them) to our Group: Fir Vale Academy in Sheffield, Cadishead Primary Academy in Manchester.”
• “On 1 October 2025 Sale High School in Greater Manchester and on 1 December 2025 Montsaye Academy in Northamptonshire joined the Charitable Company.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +10.6%

  £532,573,000 → £588,880,000

• Cash

  -69.2%

  £82,539,000 → £25,405,000

• Net assets

  +0.1%

  £948,423,000 → £949,306,000

• Employees

  +3.4%

  8,427 → 8,713

• Operating profit

  -101.7%

  £53,668,000 → -£896,000

• Profit before tax

  -91.3%

  £58,990,000 → £5,143,000

• Wages

  +9.3%

  £283,795,000 → £310,219,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers