ASH HOLDCO 2 LIMITED

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

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company is reporting net liabilities of £17,473,111 as at 31 January 2025 (2024- £14,101,683). The deficit in shareholders' funds arises as the level of return generated from the investments is currently less than the cost of servicing the Company's debt instruments used to acquire those investments. However, it is expected this will be repaid over the remaining life of the underlying PFI project as the Company's investments generate their full financial return. The Directors have reviewed the underlying project finance model and are satisfied that these are sufficient to demonstrate that the Company can settle its liabilities over the life of the project. The likelihood of loans being called over the next 12 months is unlikely given that discussions with shareholders to date have not provided any indication they wish to recall or accelerate their loans and, whilst not legally binding, this has been formalised in letters of support which provides sufficient confidence to the board that the company will continue as a going concern. Consequently, the Directors are confident that the Company, as part of this Group, will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. ASH HOLDCO 2 LIMITED · parent
   1. Ash Holdco 1 Limited 100% · England
   2. Alpha Schools (Highland) Holdings Limited 100% · England
   3. Alpha Schools (Highland) Project Plc 100% · England
   4. Alpha Schools (Highland) Limited 100% · England

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  -24.2%

  -£14,101,683 → -£17,515,576

• Employees

  —

  Not reported

• Profit before tax

  -1.1%

  -£3,377,397 → -£3,413,893

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