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Financial Statements for the Year Ended 31 December 2018 |
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Jubilee International Education Group |
Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2018 |
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for |
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Jubilee International Education Group |
Limited |
Jubilee International Education Group |
Limited (Registered number: 07662566) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Jubilee International Education Group |
Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
and Registered Auditors |
9 St Clare Street |
London |
EC3N 1LQ |
Jubilee International Education Group |
Limited (Registered number: 07662566) |
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Statement of Financial Position |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 6 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Jubilee International Education Group |
Limited (Registered number: 07662566) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Jubilee International Education Group Limited is a
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Wales. The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
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Going concern |
The company incurred losses during the year and had net liabilities of £1,065,814 at 31 December 2018. The |
financial statements have been prepared on a going concern basis which assumes that the company will continue in |
operational existence for the foreseeable future. |
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The validity of this assumption is based on the continuing financial support from the parent company and the parent |
company has expressed their willingness to continue supporting the company for the foreseeable future and hence the |
directors consider it appropriate for the financial statements to be prepared on a going concern basis. The financial |
statements do not include any adjustments that would result if such support was withdrawn. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Jubilee International Education Group |
Limited (Registered number: 07662566) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Financial Instruments |
The Company only enters into basic financial instrument transactions that result in the recognition on financial assets |
and liabilities like trade and other debtors, loans from bank and other third parties, loans to related parties and |
investments in non puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in |
the Profit and Loss Account. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's |
carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current |
effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured at the difference between an |
asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that |
the Company would receive for the asset if it were to be sold at the balance sheet date. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the |
asset and settle the liability simultaneously. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement |
of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Jubilee International Education Group |
Limited (Registered number: 07662566) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Taxation and social security |
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Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Amounts owed to group undertakings |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with |
wholly owned subsidiaries within the group. |