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GIHE UK LIMITED




Company Registration Number:
08005485 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st January 2015

End date: 31st December 2015

SUBMITTED

GIHE UK LIMITED

Contents of the Financial Statements
for the Period Ended 31st December 2015

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

GIHE UK LIMITED

Company Information
for the Period Ended 31st December 2015




Director: Paula Singer
Robert Zentz
Guy Bentley
Marc Lachat
Registered office: 1 Fetter Lane
London
EC4A 1BR
Company Registration Number: 08005485 (England and Wales)

GIHE UK LIMITED

Directors' Report Period Ended 31st December 2015

The directors present their report with the financial statements of the company for the period ended 31st December 2015

Principal activities
The principal activity of the company in the period under review was:
provision of private education services

Directors
The directors shown below have held office during the whole of the period from
01st January 2015 to 31st December 2015
Paula Singer
Robert Zentz

The director(s) shown below were appointed to the company during the period
Guy Bentley on 01 September 2015

The director(s) shown below resigned during the period
Marc Lachat on 31 December 2015

Political and charitable donations
N/A

Company policy on the employment of disabled persons
N/A

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 01 June 2016
And Signed On Behalf Of The Board By:

Name: Paula Singer
Status: Director

GIHE UK LIMITED

Profit and Loss Account

for the Period Ended 31st December 2015

Notes 2015
£		 2014
£
Turnover: 2,060,978 828,759
Cost of sales: 1,136,485 1,035,410
Gross profit or (loss): 924,493 ( 206,651 )
Administrative expenses: , 2 1,670,491 1,078,255
Operating profit or (loss): ( 745,998 ) ( 1,284,906 )
Interest receivable and similar income: - 925
Interest payable and similar charges: 41,638 -
Profit or (loss) on ordinary activities before taxation: ( 787,636 ) ( 1,283,981 )
Profit or (loss) for the financial year: ( 787,636 ) ( 1,283,981 )

The notes form part of these financial statements

GIHE UK LIMITED

Statement of total recognised gains and losses
31st December 2015

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

GIHE UK LIMITED

Balance sheet
As at 31st December 2015

Notes 2015
£		 2014
£
Fixed assets
Tangible assets: 3 201,668 254,713
Total fixed assets: 201,668 254,713
Current assets
Debtors: 4 452,644 332,604
Cash at bank and in hand: 1,091,697 820,041
Total current assets: 1,544,341 1,152,645
Creditors: amounts falling due within one year 5 2,388,443 2,091,679
Net current assets (liabilities): ( 844,102 ) ( 939,034 )
Total assets less current liabilities: ( 642,434 ) ( 684,321 )
Creditors: amounts falling due after more than one year: 6 2,044,106 1,214,583
Total net assets (liabilities): ( 2,686,540 ) ( 1,898,904 )

The notes form part of these financial statements

GIHE UK LIMITED

Balance sheet
As at 31st December 2015
continued

Notes 2015
£		 2014
£
Capital and reserves
Called up share capital: 7 100 100
Profit and Loss account: 8 ( 2,686,640 ) ( 1,899,004 )
Total shareholders funds: ( 2,686,540 ) ( 1,898,904 )

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 01 June 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Paula Singer
Status: Director

The notes form part of these financial statements

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    IFRS

    Turnover policy

    Fair value

    Tangible fixed assets depreciation policy

    Computer equipment 3-5 years Leasehold improvements - 10 years Furniture and fixtures - 3-7 years

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 2. Employees

    2015 2014
    £ £
    Wages and salaries: 905,631 -
    Social security costs: 83,032 -
    Pension costs: 21,545 -
    Total staff costs: 1,010,208 -
    Average number of employees including directors during the period: 15 -

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 3. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st January 2015: - - 113,728 218,485 - 332,213
    Additions: - - 955 13,504 - 14,459
    At 31st December 2015: - - 114,683 231,989 - 346,672
    Depreciation
    At 01st January 2015: - - 25,877 51,623 - 77,500
    Charge for year: - - 17,625 49,879 - 67,504
    At 31st December 2015: - - 43,502 101,502 - 145,004
    Net book value
    At 31st December 2015: - - 71,181 130,487 - 201,668
    At 31st December 2014: - - 87,851 166,862 - 254,713

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 4. Debtors

    2015 2014
    £ £
    Trade debtors: 49,255 2,011
    Other debtors: 330,862 290,592
    Prepayments and accrued income: 72,527 40,001
    Total: 452,644 332,604

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 5. Creditors: amounts falling due within one year

    2015 2014
    £ £
    Trade creditors: 461,731 633,852
    Taxation and social security: 204,723 151,420
    Accruals and deferred income: 1,594,502 927,093
    Other creditors: 127,487 379,314
    Total: 2,388,443 2,091,679

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 6. Creditors: amounts falling due after more than one year

    2015 2014
    £ £
    Other creditors: 2,044,106 1,214,583
    Total: 2,044,106 1,214,583

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 7. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 100.00
    100.00
    		100
    Total share capital: 100
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 100.00
    100.00
    		100
    Total share capital: 100

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 8. Profit and loss account

    2015 2014
    £ £
    Opening balance: ( 1,899,004 ) ( 615,023 )
    Profit or (loss) for the period: ( 787,636 ) ( 1,283,981 )
    Equity dividends paid: 0 0
    Retained profit: ( 2,686,640 ) ( 1,899,004 )

GIHE UK LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2015

  • 9. Post balance sheet events

    On March 15, 2016, Laureate International BV entered into a sale and purchase agreement with Graduate SA for the sale of the Glion and Les Roches brands including GIHE UK Limited.