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REGISTERED NUMBER: 09764599 (England and Wales)








Unaudited Financial Statements

For The Period

1 September 2022 to 31 December 2023

for

JIAYI International Education Investment
Group Limited

JIAYI International Education Investment
Group Limited (Registered number: 09764599)






Contents of the Financial Statements
For The Period 1 September 2022 to 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


JIAYI International Education Investment
Group Limited (Registered number: 09764599)

Balance Sheet
31 December 2023

31.12.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 259
Investments 6 5,810,768 701,620
5,810,768 701,879

CURRENT ASSETS
Debtors 7 910,672 2,897,516
Cash at bank 359,360 3,878,404
1,270,032 6,775,920
CREDITORS
Amounts falling due within one year 8 660,311 2,531,892
NET CURRENT ASSETS 609,721 4,244,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,420,489

4,945,907

CAPITAL AND RESERVES
Called up share capital 1,100,000 1,100,000
Share premium 3,028,492 3,028,492
Retained earnings 2,291,997 817,415
6,420,489 4,945,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





C Cui - Director


JIAYI International Education Investment
Group Limited (Registered number: 09764599)

Notes to the Financial Statements
For The Period 1 September 2022 to 31 December 2023

1. STATUTORY INFORMATION

JIAYI International Education Investment Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09764599

Registered office: The Royal Exchange
2 Royal Exchange Steps
London
EC3V 3DG

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements are prepared on a going concern basis, under the historical cost convention. The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are key to the financial statements are detailed below.

Preparation of consolidated financial statements
The financial statements contain information about JIAYI International Education Investment 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.

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 is depreciated using the straight line method over a period of 36 months. This is in line with the Company's parent company.

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

Investments
Unlisted investments are stated at fair value. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the year.

Taxation
Taxation for the period 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 period 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.

JIAYI International Education Investment
Group Limited (Registered number: 09764599)

Notes to the Financial Statements - continued
For The Period 1 September 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Investments

The most critical estimates, assumptions and judgements relate to the determination of carrying value of investments at fair value through the profit and loss account. The concept applied is that fair value is the amount for which an asset can be exchanged between knowledgeable willing parties in an arms' length transaction. The nature, facts and circumstances of the investment drives the valuation methodology.

Recoverability of debtors

During the year the Directors of Jiayi International Education Investment Group Limited approved a loan to Annsprint Ltd for USD $400,000 as temporary funding support. This loan is interest free and was originally repayable by December 2023. However the repayment terms have been extended to December 2024.

During the year the Directors of Jiayi International Education Investment Group Limited also approved a loan to iStep Learning Ltd for £620,000. £150,000 was repaid in December 2023 leaving a balance outstanding of £450,000 which is repayable by December 2024.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. AUDITORS' REMUNERATION
Period
1.9.22
to Year Ended
31.12.23 31.8.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

11,400

19,194

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 December 2023 2,334
DEPRECIATION
At 1 September 2022 2,075
Charge for period 259
At 31 December 2023 2,334
NET BOOK VALUE
At 31 December 2023 -
At 31 August 2022 259

JIAYI International Education Investment
Group Limited (Registered number: 09764599)

Notes to the Financial Statements - continued
For The Period 1 September 2022 to 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 September 2022 651,618 50,002 701,620
Additions 7,173,238 822,565 7,995,803
Disposals (2,886,655 ) - (2,886,655 )
At 31 December 2023 4,938,201 872,567 5,810,768
NET BOOK VALUE
At 31 December 2023 4,938,201 872,567 5,810,768
At 31 August 2022 651,618 50,002 701,620

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.8.22
£    £   
Amounts owed by group undertakings 596,515 550,547
Other debtors 314,157 2,346,969
910,672 2,897,516

During the year the Directors of Jiayi International Education Investment Group Limited approved a loan to Annsprint Ltd for USD $400,000 as temporary funding support. This loan is interest free and was originally repayable by December 2023. However the repayment terms have been extended to December 2024.

During the year the Directors of Jiayi International Education Investment Group Limited also approved a loan to iStep Learning Ltd for £620,000. £150,000 was repaid in December 2023 leaving a balance outstanding of £450,000 which is repayable by December 2024.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.8.22
£    £   
Trade creditors 1 1
Amounts owed to group undertakings 534,163 2,498,892
Taxation and social security 4,308 5,125
Other creditors 121,839 27,874
660,311 2,531,892

JIAYI International Education Investment
Group Limited (Registered number: 09764599)

Notes to the Financial Statements - continued
For The Period 1 September 2022 to 31 December 2023

9. RELATED PARTY DISCLOSURES

Included in investments (note 8) are other investments amounting to £872,567, which are £150,006 in respect of shares acquired in Babbu Limited, £392,696 in respect of shares acquired in Chuxin Partners which is a US company and £329,865 in respect of investment in Songs International Trade Ltd, (31 August 2022: £50,002 in respect of shares in Babbu Limited).

Also included in investments is £3,553,922 in respect of shares acquired in its subsidiaries, Cosydorm Limited and iStep Learning Ltd(31 August 2022: £651,618 in respect of Bambinos Limited and Cosydorm Ltd).

As at 31 December 2023 £534,163 (31 August 2022: £2,498,892) was due to the group company Jiangsu Jiayi Education Technology Limited (note 10 included in 'amounts due to group undertakings'). This is made up of the net of £1,900,415 (31 August 2022: £242,207) due to Jiayi International Education Investment Group Limited for legal fees paid on behalf of Jiangsu Jiayi Education Technology Limited and the re-translated amount of £2,434,577 owed to Jiangsu Jiayi Education Technology Limited which relates to loans made in previous years (31 August 2022 £2,741,099).

As at 31 December 2023 £1,728 (31 August 2022: £1,889) was due from each of the following companies; Jiayi Education Limited, XiaoBingWang Holding Ltd and the parent company Jiayi GreatBritain Ltd for legal fees the company paid on their behalf. These companies are all part of the group and were incorporated in the British Virgin Islands.

As at 31 December 2023 £27,244 (31 August 2022: £544,881 was due from Jiayi Education Holdings Limited, the ultimate parent company.

As at 31 December 2023 £114,087 (31 August 2022 £110,000) was due from Cosydorm Limited.

As at 31 December 2023 £450,000 (31 August 2022 £Nil) was due from iStep Limited.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Jiayi Education Holdings Limited, a company incorporated in the Cayman Islands.