REGISTERED NUMBER: 07662566 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Jubilee International Education Group

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms J Li

REGISTERED OFFICE:

Room 609, Clarendon Business Centres

2 Upper Berkeley Street

London

W1H 5PW

REGISTERED NUMBER:

07662566 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Registered Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Tangible assets

3

-

80

CURRENT ASSETS

Stocks

21,164

21,164

Debtors

4

32,521

31,779

Cash at bank

2,258

12,285

55,943

65,228

CREDITORS

Amounts falling due within one year

5

15,112

11,555

NET CURRENT ASSETS

40,831

53,673

TOTAL ASSETS LESS CURRENT LIABILITIES

40,831

53,753

CREDITORS

Amounts falling due after more than one year

6

1,027,694

942,704

NET LIABILITIES

(986,863

)

(888,951

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

(996,863

)

(898,951

)

(986,863

)

(888,951

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 September 2018 and were signed by:

Ms J Li - Director

1.	STATUTORY INFORMATION

Jubilee International Education Group Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within

these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial

Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied.

Going concern

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.

The director has received confirmation from the parent company that for the foreseeable future, it will support the

Company in order to allow it to meet its liabilities as they fall due. The financial statements do not include any

adjustments that would be required as a result of support being withdrawn.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the

revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable,

excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before

revenue is recognised.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership

nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives,

using the straight line method.

Depreciation is provided on the following basis:

Fixtures and fittings 20% Straight line

Computer equipment 20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete

and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods

include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced

to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets

and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related

parties and investments in non puttable ordinary shares.

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.

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.

For financial assets measured at cost less impairment, the impairment loss is measured as 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.

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.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

2,074

DEPRECIATION

At 1 January 2017

1,994

Charge for year

80

At 31 December 2017

2,074

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

80

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other debtors

32,521

31,779

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

-

71

Taxation and social security

-

(3,247

)

Other creditors

15,112

14,731

15,112

11,555

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Amounts owed to group undertakings

1,027,694

942,704

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Our opinion on these financial statements is not qualified. We draw your attention to the going concern paragraph in

Note 2.2 to the financial statements which describes the directors consideration surrounding the Company's ability to

continue as a going concern. The financial statements do not include any adjustments that would result if the

Company could not continue as a going concern.

Julie Wilson (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

8.	RELATED PARTY DISCLOSURES

The Company has taken advantage of exemption under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard application in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

At the year end, the Company owed the director £5,662 (2016: £7,619), The balance was interest free and repayable

on demand.