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REGISTERED NUMBER: 10349874 (England and Wales)















NEW BEACON GROUP LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEW BEACON GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Dr K Guo





REGISTERED OFFICE: Beacon Building Staffordshire Education
Weston Road
Stafford
Staffordshire
ST18 0BF





REGISTERED NUMBER: 10349874 (England and Wales)

NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 647,148 631,817
Investments 5 266,596 266,596
913,744 898,413

CURRENT ASSETS
Debtors 6 147,825 212,032
Cash at bank and in hand 458,584 67,508
606,409 279,540
CREDITORS
Amounts falling due within one year 7 (10,243,297 ) (9,585,681 )
NET CURRENT LIABILITIES (9,636,888 ) (9,306,141 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,723,144 ) (8,407,728 )

CREDITORS
Amounts falling due after more than one
year

8

(28,628

)

(38,557

)
NET LIABILITIES (8,751,772 ) (8,446,285 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (8,751,872 ) (8,446,385 )
SHAREHOLDERS' FUNDS (8,751,772 ) (8,446,285 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Dr K Guo - Director


NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

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

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

Preparation of consolidated financial statements
The financial statements contain information about New Beacon Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Student registration fees
Student registration fees, excluding value added tax, is in relation to courses delivered in the year.

Conferencing revenue
Conferencing revenue is recognised at the fair value of the consideration received.

Short course income
Short course income, excluding value added tax, is in relation to courses delivered during the year and is recognised evenly over the period of the relevant course. Any receipts in advance of the course starting date are held on the statement of financial position as deferred income.

Student Accommodation
Rental income is recognised through the profit and loss account on a straight line basis over the agreement between the student and the company.

Leased Revenue
The rental income receivable under the leases is recognised through the profit and loss on a straight-line basis over the term of the lease.

NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Computer equipment - 20% on cost and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,401,573
Additions 195,237
At 31 December 2023 1,596,810
DEPRECIATION
At 1 January 2023 769,756
Charge for year 179,906
At 31 December 2023 949,662
NET BOOK VALUE
At 31 December 2023 647,148
At 31 December 2022 631,817

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 266,596
NET BOOK VALUE
At 31 December 2023 266,596
At 31 December 2022 266,596

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 64,928 50,463
Amounts owed by associates - 80,000
Other debtors 2,125 5,617
Prepayments and accrued income 80,772 75,952
147,825 212,032

NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 9,129 8,748
Trade creditors 49,841 106,297
Amounts owed to group undertakings 199,369 81,122
Amounts owed to associates 9,460,233 8,139,588
Social security and other taxes 13,074 11,672
Pension control 2,686 3,176
VAT 28,388 34,227
Directors' current accounts - 825,000
Accruals and deferred income 480,577 375,851
10,243,297 9,585,681

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 28,628 38,557

9. LOANS

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Jeremy G Hodgkiss (Senior Statutory Auditor)
for and on behalf of Deans

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the New Beacon Group Limited owed £9,460,233 (2022 - £8,139,588) to companies in which Dr Kaijun Guo is a director.

NEW BEACON GROUP LIMITED (REGISTERED NUMBER: 10349874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


13. GOING CONCERN

As at 31 December 2023, the company had net liabilities of £8,751,772 (2022 - £8,446,285) and is reliant on the support of associated companies in which Dr Kaijun Guo is a director.

The associated companies have indicated that they will not withdraw their support from the company for at least the next twelve months.