ALDGATE EDUCATION MIDCO 2 LTD
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Next accounts due
2026-05-31 (this month)
Last filed for 2024-08-31
Confirmation statement due
2026-12-13 (in 7mo)
Last made up 2025-11-29
Watchouts
Cash
£13M
+1.6% vs 2023
Net assets
-£511M
-22.3% vs 2023
Employees
2,440
+0.3% vs 2023
Profit before tax
-£95M
+37% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-08-31
| Metric | Trend | 2023-08-31 | 2024-08-31 |
|---|---|---|---|
| Turnover | £159,900,000 | £180,800,000 | |
| Operating profit | -£85,800,000 | -£10,000,000 | |
| Profit before tax | -£151,300,000 | -£95,300,000 | |
| Net profit | -£128,300,000 | -£92,300,000 | |
| Cash | £12,700,000 | £12,900,000 | |
| Total assets less current liabilities | £201,100,000 | £197,000,000 | |
| Net assets | -£417,600,000 | -£510,800,000 | |
| Equity | -£417,600,000 | -£510,800,000 | |
| Average employees | 2,433 | 2,440 | |
| Wages | £53,600,000 | £58,100,000 | |
| Directors' remuneration | £800,000 | £800,000 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-08-31 vs 2023-08-31
-
Turnover
+13.1%
£159,900,000 £180,800,000
-
Cash
+1.6%
£12,700,000 £12,900,000
-
Net assets
-22.3%
-£417,600,000 -£510,800,000
-
Employees
+0.3%
2,433 2,440
-
Operating profit
+88.3%
-£85,800,000 -£10,000,000
-
Profit before tax
+37%
-£151,300,000 -£95,300,000
-
Wages
+8.4%
£53,600,000 £58,100,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-08-31 | 2024-08-31 |
|---|---|---|---|
| Operating margin | -53.7% | -5.5% | |
| Net margin | -80.2% | -51.1% | |
| Return on capital employed | -42.7% | -5.1% | |
| Gearing (liabilities / total assets) | 182.8% | 201.0% | |
| Current ratio | 0.19x | 0.21x | |
| Interest cover | -1.31x | -0.12x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Qualified
- Going concern
- Affirmed
“Notwithstanding the material uncertainty, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for at least 12 months from the date these financial statements are signed. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”
Group structure
- ALDGATE EDUCATION MIDCO 2 LTD · parent
- NST Limited 100%
- NST Transport Services Limited 100%
- SAS Le Chateau d'Ebblinghem 100%
- SARL Chateau d'Ebblinghem 100%
- PGL Air Travel Limited 100%
- PGL Voyages Limited 100%
- PGL Travel Limited 100%
- PGL Adventure Limited 100%
- Freedom of France Limited 100%
- Noreya SL 100%
- PGL Adventures SAS 100%
- Travelplus Group GmbH 100%
- Travelplus Group GmbH 100%
- European Study Tours Limited 100%
- Simpar SASu 100%
- Chateau de Lamorlaye SCI 100%
- SCI Domaine de Segries 100%
- NST Holdings Limited 100%
- NST Travel Group Limited 100%
- PGL Group Limited 100%
- EST Transport Purchasing Limited 100%
- HB Education EBT Limited 100%
- HB PGL Holding Limited 100%
- PGL Travel Pty Limited 100%
- PGL Property Pty Limited 100%
- PGL Adventure Camps Pty Limited 100%
- PGL Camps Pty Limited 100%
- Aldgate Education Propco 1 Limited 100%
- HB Education Limited 100%
- Aldgate Education Bidco Limited 100%
- Aldgate Education Midco 4 Limited 100%
- Aldgate Education Midco 3 Limited 100%
Significant events
- “Post year end the Group made the difficult decision to close two of its smallest PGL centres (Tregoyd House and Beam House). All customers with bookings in these centres for FY25 have been offered alternatives at our other centres, and we are pleased that we have retained over 80% of these customers.”
- “On 17 January 2025 one of the Group's competitors: Kingswood Learning and Leisure Group Limited and its subsidiaries ("Kingswood Group") entered into administration. On the same day the Group entered into an agreement with the Kingswood Group and its administrators to acquire three of its operating centres: Dearne Valley, Grosvenor Hall and Overstrand Hall for a price of £3m subject to adjustments for taxes.”
- “On 7 January 2025 the Group entered into an extension of the Payment In Kind and Accordion facility with the addition of a Second Accordion facility of £20m to facilitate the acquisition of the three Kingswood centres and to provide working capital and funds for capital investment for these sites. The facility accrues interest at 13% + SONIA+ 0.28 leverage). The loan will be repayable on 14 July 2029. In January 2025 the Group drew down £5.1m to finance the acquisition.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DENNIS, Michael Christopher | Director | 2018-12-07 | May 1976 | British |
| GRAFF, Nicole Sarah | Director | 2025-01-28 | Jul 1989 | British |
| JONES, Anthony Gerald | Director | 2020-03-26 | Aug 1973 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRACEY, Andrew James Mark Lewis | Director | 2018-12-19 | 2021-11-30 |
| CHURCHUS, Peter John | Director | 2019-01-11 | 2020-09-01 |
| CLARK, Andrew James | Director | 2022-09-20 | 2025-01-28 |
| CLEGG, Aiden Charles Barwick | Director | 2018-12-19 | 2021-11-30 |
| CREIGHTON, Luke Taylor | Director | 2021-02-11 | 2022-07-01 |
| CURRIE, Neil Allen | Director | 2018-12-19 | 2021-11-30 |
| FIRTH, John Gordon | Director | 2019-01-11 | 2020-04-27 |
| HAYWARD, Carl Robert | Director | 2020-07-01 | 2021-02-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ares Management Limited | Corporate entity | Significant influence | 2018-12-07 | Active |
| Ares Management L.P. | Corporate entity | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm | 2018-12-07 | Active |
Filing timeline
Last 20 of 43 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-09 RESOLUTIONS Resolution
- 2025-06-09 MA Memorandum articles
- 2025-06-09 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-09 | RESOLUTIONS | resolution | Resolution | |
| 2025-06-09 | MA | incorporation | Memorandum articles | |
| 2025-06-09 | CC04 | change-of-constitution | Statement of companys objects | |
| 2025-05-29 | AA | accounts | Accounts with accounts type group | |
| 2025-02-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-18 | AA | accounts | Accounts with accounts type group | |
| 2024-01-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-16 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-11-16 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-05-20 | AA | accounts | Accounts with accounts type group | |
| 2022-12-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-06 | TM01 | officers | Termination director company with name termination date | |
| 2022-05-03 | AA | accounts | Accounts with accounts type group | |
| 2021-11-30 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.