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REGISTERED NUMBER: 09655335 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

KEYPATH EDUCATION UK LIMITED

KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KEYPATH EDUCATION UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S Fireng
E Israel





SECRETARY: E Israel





REGISTERED OFFICE: 4th Floor Friars House
Manor House Drive
Coventry
United Kingdom
CV1 2TE





REGISTERED NUMBER: 09655335 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
ASSETS

NONCURRENT ASSETS
Intangible assets 4 - 180,342
Tangible assets 5 - 3,429
Deferred tax asset 6 544,644 501,991
544,644 685,762

CURRENT ASSETS
Debtors 7 405,810 879,739
Cash at bank 3,308,142 1,870,346
3,713,952 2,750,085
4,258,596 3,435,847

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 1,174,709 1,174,709
Share premium (39,309 ) (39,309 )
Retained earnings 1,385,638 1,565,892
2,521,038 2,701,292

CREDITORS
Amounts falling due within one year 8 1,737,558 734,555
1,737,558 734,555
4,258,596 3,435,847

KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:




S Fireng - Director



E Israel - Director


KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Keypath Education UK 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Web development are being amortised evenly over their estimated useful life of three years.

Course development are being amortised evenly over their estimated useful life of three years.

Business development is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer & Equipment - 33% on cost

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 statement of financial position date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE ASSETS
Web Course Business
development development development Totals
£    £    £    £   
COST
At 1 July 2022 2,354 856,455 200,000 1,058,809
Additions - 35,897 - 35,897
Disposals (2,354 ) (892,352 ) (200,000 ) (1,094,706 )
At 30 June 2023 - - - -
AMORTISATION
At 1 July 2022 1,581 766,678 110,208 878,467
Amortisation for year 654 58,665 16,667 75,986
Eliminated on disposal (2,235 ) (825,343 ) (126,875 ) (954,453 )
At 30 June 2023 - - - -
NET BOOK VALUE
At 30 June 2023 - - - -
At 30 June 2022 773 89,777 89,792 180,342

5. TANGIBLE ASSETS
Computer
& Equipme
£   
COST
At 1 July 2022 9,140
Disposals (9,140 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 5,711
Charge for year 1,468
Eliminated on disposal (7,179 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 3,429

6. DEFERRED TAX ASSET

The deferred tax asset as of the year end is £544,644 (2022 - £501,991).

KEYPATH EDUCATION UK LIMITED (REGISTERED NUMBER: 09655335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 315,578 724,793
Amounts owed by group undertakings 85,935 146,547
Other debtors 4,297 8,399
405,810 879,739

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,444 138,464
Amounts owed to group undertakings 131,356 39,518
Taxation and social security - 5,477
Other creditors 1,604,758 551,096
1,737,558 734,555

9. RELATED PARTY DISCLOSURES

During the year various transactions took place between Keypath Education UK Limited and other operational companies, resulting in £45,420 being owed to the other companies (2022: £107,030 owed from the other companies) at the balance sheet date.

10. CONTROLLING PARTY

The immediate parent company is Keypath Education Holdings, LLC (incorporated in United States of America) and the ultimate parent company is Keypath Education International, Inc. (incorporated in United States of America).