Company registration number 10923668 (England and Wales)
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
COMPANY INFORMATION
Directors
Lu Zhou
W Adriaanse
(Appointed 31 January 2023)
B Williams
(Appointed 17 November 2023)
Company number
10923668
Registered office
1 Bartholomew Lane
London
EC2N 2AX
Bankers
Nanyang Commercial Bank, Limited
151 Des Voeux Road Central
Central Hong Kong
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Statement of comprehensive income
4
Statement of financial position
5 - 6
Statement of changes in equity
7
Notes to the financial statements
8 - 15
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -

The directors present their annual report on the affairs of Cinda International HGB Investment (UK) Limited (the "Company"), together with the unaudited financial statements, for the year ended 31 August 2023.

 

This directors' report has been prepared in accordance with the special provisions relating to small companies. The Company is availing of the exemption from preparing a strategic report or enhanced business review under part 15 of section 414B of the Companies Act 2006.

Principal activities

The principal activity of the company continued to be that of a holding company.

Results and dividends

The results for the year are set out on page 4.

During the year, no dividends were paid or proposed (2022: $nil).

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Lu Zhou
W Adriaanse
(Appointed 31 January 2023)
B Williams
(Appointed 17 November 2023)
D Jaffe
(Resigned 31 January 2023)
Raheel Khan
(Resigned 17 November 2023)
The directors and the secretary had no interest in the share capital of the Company for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Directors' indemnities

The Company has granted the directors with qualifying third-party indemnity provisions within the meaning given to the term by section 234 and 235 of the Companies Act 2006. This is in respect of liabilities to which they may become liable in their capacity as director of the company. Such indemnities were in force throughout the financial year and will remain in force at the date of this report.

Treasury policies

The objectives of the Company are to manage the Company's financial risk, secure cost effective funding for the Company's operations, and to minimise the adverse effects of fluctuations in the financial markets on the company's financial assets and liabilities, on reported profitability and on the cash flows of the Company.

 

The Company finances its activities with a combination of intercompany loan arrangements and shareholders' equity. Other financial assets and liabilities such as trade and other receivables and trade and other payables, arise directly from the Company's operating activities. The Company does not trade in financial instruments and has no other form of derivatives.

 

Substantial shareholdings

As at the date of this report, the company did not receive any notifications under chapter 5 of the Disclosure Guidance and Transparency Rules.

 

Principle risks and uncertainties

The principal risks are considered to be the wider global economic environment. These risks are reviewed and managed through the Company's business performance and risk management processes.

 

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
Going concern

The directors, after carrying out necessary enquiries, believe that the Company has adequate sources of funding to meet its future investments and the payment of its expenses and is well placed to manage its business risk successfully.

 

As a consequence of the above, the directors have reasonable expectation that the Company has adequate resources and procedures in place to manage its business risks for the foreseeable future. Accordingly, the Company has adopted the going concern basis in the preparation of the financial statements.

Post reporting date events

The directors are not aware of any events subsequent to the reporting period which requires disclosure in or adjustments to the financial statements.

Future outlook

The company will continue to operate as a holding company in the future.

Domcile and Legal Form

The Company is a private company limited by shares and is incorporated and domiciled in England. The principal place of business is shown on page 1.

On behalf of the board
B Williams
Director
28 August 2024
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, International Accounting Standard 1 requires that directors:

 

 

The directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
2023
2022
Notes
$
$
Administrative expenses
(3,086,438)
(669,721)
Operating loss
3
(3,086,438)
(669,721)
Share of profits of associates
449,153,021
200,950,523
Finance costs
6
180
107
Other gains and losses
7
(27,791,255)
(88,462,245)
Profit before taxation
418,275,508
111,818,664
Income tax expense
9
(8,685,364)
-
Profit and total comprehensive income for the year
16
409,590,144
111,818,664

The notes on pages 8 to 15 form part of these financial statements.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2023
31 August 2023
- 5 -
2023
2022
Notes
$
$
Non-current assets
Investment in associate
10
753,442,898
706,524,990
Current assets
Trade and other receivables
12
419,857,645
203,368,530
Cash and cash equivalents
13,711,683
1,479,809
433,569,328
204,848,339
Current liabilities
Trade and other payables
13
1,351,396
1,351,396
Net current assets
432,217,932
203,496,943
Non-current liabilities
Deferred tax liabilities
14
1,415,413
1,415,413
Net assets
1,184,245,417
908,606,520
Equity
Called up share capital
15
734,300,037
734,300,037
Other reserves
(275,333,324)
(141,382,077)
Retained earnings
16
725,278,704
315,688,560
Total equity
1,184,245,417
908,606,520

The notes on pages 8 to 15 form part of these financial statements.

For the year ended 31 August 2023, the Company was entitled to exemption from audit under section 477 of the

Companies Act 2006.

 

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

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

 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.

 

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 6 -
The financial statements were approved by the board of directors and authorised for issue on 28 August 2024 and are signed on its behalf by:
B Williams
Director
Company registration number 10923668
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023
- 7 -
Share capital
Other reserves
Retained earnings
Total
$
$
$
$
Balance at 1 September 2021
734,300,037
(144,214,625)
203,869,896
793,955,308
Year ended 31 August 2022:
Profit and total comprehensive income
-
-
111,818,664
111,818,664
Transactions with owners:
Transfer to other reserves
-
2,832,548
-
0
2,832,548
Balance at 31 August 2022
734,300,037
(141,382,077)
315,688,560
908,606,520
Year ended 31 August 2023:
Profit and total comprehensive income
-
-
409,590,144
409,590,144
Transactions with owners:
Transfer to other reserves
-
(133,951,247)
-
0
(133,951,247)
Balance at 31 August 2023
734,300,037
(275,333,324)
725,278,704
1,184,245,417

The notes on pages 8 to 15 form part of these financial statements.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 8 -
1
Accounting policies
Company information

Cinda International HGB Investment (UK) Limited (the "Company") is a private company limited by shares incorporated in England and Wales. The registered office is 1 Bartholomew Lane, London, United Kingdom, EC2N 2AX. The company's principal activities and nature of its operations are disclosed in the directors' report.

 

Cinda International HGB Investment (UK) Limited holds 15.89% of the share capital of Yancoal Australia Limited through the purchase of shares. The principal activity of Yancoal Australia Limited is that of coal production.

1.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated. Therefore the Company financial statements comply with Article 4 of the EU International Accounting Standards Regulations.

The financial statements are prepared in United States dollars ("$"), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest dollar,

The financial statements have been prepared on the historical cost basis, except for the revaluation of financial instruments that are measured at revalued amounts or fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

 

The Company has taken advantage of the exemptions available not to prepare a statement of cash flows as it is a wholly owned subsidiary undertaking and the consolidated financial statements in which the Company is included are publicly available.

 

The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis because there are no materialtrue uncertainties related to events or conditions that may cast significant doubt about the Company's ability to continue as a going concern.

1.3
Non-current investments

The results, assets and liabilities of an associate are incorporated in these financial statements using the equity method of accounting.

 

Under the equity method, the investment in associate is carried in the Statement of Financial Position at cost plus post acquisition changes in the Company’s share of net assets of the associate, less distributions received and less any impairment in value of the investment.

 

The Company assesses investments in equity-accounted entities for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If any such indication of impairment exists, the carrying amount of the investment is compared with its recoverable amount, being the higher of its fair value less costs of disposal and value in use. If the carrying amount exceeds the recoverable amount, the investment is written down to its recoverable amount.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 9 -
1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the statement of financial position unless they form part of a cash pooling arrangement where there is an intention to settle on a net basis, in which case they are reported net of related cash balances.

1.5
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

 

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

 

1.6
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, overdrafts, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the Statement of Comprehensive Income because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 10 -
Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax are generally provided in full, using a liability method, on temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event and it is probable that the company will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Provisions are recognised as the present value of the expenditures expected to be required to settle the obligation. No provision is recognised for future operating losses.

 

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

 

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligation as a whole. A provision may be recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

 

1.10
Foreign exchange

Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the date of the statement of financial position are translated at the foreign exchange rate ruling at that date. Foreign exchange differences are recognised in the statement of comprehensive income within administrative expenses.

 

Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities ddenominated in foreign currencies that are stated at fair value are translated at foreign exchange rates ruling at the dates the fair value was determined.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 11 -
1.11

Capital management

For the purpose of the Company's capital management, capital includes issued share capital and retained earnings attributable to the Company's shareholder. The Company's objectives when managing capital are to safeguard the Company's ability to continue as a going concern in order to provide returns for the shareholder.

 

The shareholder will invest additional monies into the Company in order to ensure that the Company can meet its ongoing financial obligations. These shall be provided at such times as the Company may require for working capital purposes or for meeting any obligation of the Company. The Company is not subject to any external capital requirements.

1.12

Related party transactions

The Company has taken advantage of the disclosure exemptions available not to disclose related party transactions with fellow wholly-owned group undertakings, as these are included in the consolidated financial statements in which the Company is included and are publicly available.

2
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements
Critical judgements in applying the Company's accounting policies

The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the Directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in these financial statements.

Impairment of investments in associates

Determining whether the Company’s investments in associates have been impaired requires estimations of the investments in accordance with IAS 36. No indicators have been noted by the Company. The carrying amount of investments in associate at the Statement of Financial Position date was $753,442,898 (2022: $706,524,990), with no impairment loss recognised in current financial year (2022: $nil).

Key source(s) of estimation uncertainty

The Directors consider that there are no key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 12 -
3
Operating loss
2023
2022
Operating loss for the year is stated after charging/(crediting):
$
$
Exchange (gains)/losses
(157,099)
18,448
Bank charge
5,169
3,013
Rental expenses (office)
25,421
13,247
Professional fees
211,312
137,654
Handling and commission expenses
3,001,635
497,359
Total charged to operating loss
3,086,438
669,721
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was nil.

There were no staff costs during the current financial year (2022: $nil).

5
Directors' remuneration

The Directors remuneration for the current year and prior period was borne by its associate and other fellow companies. No recharge was made to the Company for the services of the Directors in the current year or prior period as it is not possible to make an accurate apportionment of emoluments in respect of services to the Company.

6
Finance costs
2023
2022
$
$
Interest on bank overdrafts and loans
(180)
(107)
7
Other gains and losses
2023
2022
$
$
Change in value of financial assets at fair value through profit or loss
(27,791,255)
(88,462,245)
8
Income tax expense

No corporation tax is due for the current financial year nor for the previous financial period.

 

No deferred tax assets have been recognised for the carry-forward of unused tax losses and deductible temporary differences as management do not believe that it is possible that future taxable profit will be available against unused tax losses and deductible temporary differences.

 

The income tax expense in the current financial year represents the withholding tax of the dividend received from the investment in Yancoal Australia.

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 13 -
9
Income tax expense
2023
2022
$
$
Current tax
Foreign taxes and reliefs
8,685,364
-
0
8,685,364
-
0
10
Investments
Current
Non-current
2023
2022
2023
2022
$
$
$
$
Investments in associates
-
0
-
0
753,442,898
706,524,990

On 19 August 2017, the Company acquired a 16.71% interest in Yancoal Australia Limited for a total consideration of $734,300,037. On 6 Dec 2018, Yancoal Australia Limited was listed in Hong Kong Stock Exchange (Dual Primary Listing). Therefore, Cinda's shareholding was diluted to 15.89%. The Company’s interest in Yancoal Australia Limited is accounted for as an associate using the equity method in the financial statements, due to the size of the shareholding and significant influence over the business.

 

The investment in Yancoal Australia Limited is material to the Company. The summarised financial information of the associate is presented below:

 

 

Year ended 31 Aug 2023

Year ended 31 Aug 2022

Company’s share of results of associate

$

$

Aggregate carrying value on acquisition

706,524,990

757,494,163

Company's share of profit

449,153,021

200,950,523

Company's share of other comprehensive (loss)

(54,167,366)

(88,831,001)

Exchange difference

(375,859,001)

(251,550,940)

Put option gain

27,791,255

88,462,245

Aggregate carrying value of the Company’s interests

753,442,898

706,524,990

 

11
Associates

The Company has no contingent liabilities or capital commitments relating to its interests in the associate at 31 August 2023 (2022: nil).

 

There are no restrictions on the ability of Yancoal Australia Limited to transfer funds to the Company.

 

Set out below is the associate of the Company as at 31 August 2023 and 31 August 2022 which, in the opinion of the directors, is material to the Company. The associate (as listed below) has share capital consisting solely of ordinary shares, which are held directly by the Company; the country of incorporation or registration is also their principal place of business.

Details of the company's associates at 31 August 2023 are as follows:

CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
11
Associates
(Continued)
- 14 -
Name of undertaking
Registered office
Principal activities
Class of
% Held
shares held
Direct
Yancoal Australia Limited
Level 18, Darling Park 2201,
Sussex Street, Sydney NSW
2000
Coal production
Equity
15.89

The above associate is accounted for using the equity method in these financial statements as set out in the company’s statement of accounting policies in note 1.

 

(i) Pursuant to a shareholder agreement, the Company has the right to cast 15.89% of the votes at shareholder meetings of Yancoal Australia Limited.

 

(ii) As at 31 August 2023, the carrying value of the Company's interest in Yancoal Australia Limited was $753,442,898 (2022:$706,524,990).

 

12
Trade and other receivables
2023
2022
$
$
Amounts owed by fellow group undertakings
137,695,200
44,039,628
Other receivables
282,162,445
159,328,902
419,857,645
203,368,530

The Directors consider that the carrying amount of trade and other receivables is approximately equal to their fair value.

 

 

 

 

 

 

 

 

 

 

 

 

13
Trade and other payables
2023
2022
$
$
Other payables
1,351,396
1,351,396

The Directors consider that the carrying amount of trade and other payables approximates to their fair value.

14
Deferred taxation
Liabilities
2023
2022
$
$
Deferred tax balances
1,415,413
1,415,413
15
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
$
$
Issued and fully paid
Ordinary shares of $0.01 each
7,343,000,368
7,343,000,368
734,300,037
734,300,037
CINDA INTERNATIONAL HGB INVESTMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
15
Share capital
(Continued)
- 15 -

The Company has one class of ordinary shares which carry no right to fixed income.

 

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.

 

The Company is not subject to any externally imposed capital requirements.

16
Retained earnings
2023
2022
$
$
At the beginning of the year
315,688,560
203,869,896
Profit for the year
409,590,144
111,818,664
At the end of the year
725,278,704
315,688,560
17
Capital commitments

The Company does not have any capital commitments or contingent liabilities that have not been included in these financial statements.

18
Capital risk management

The company is not subject to any externally imposed capital requirements.

19
Events after the reporting date

There were no post balance events post the balance sheet date and prior to the date of the signing of these financial statements that would have a material impact on the results reported or the financial position of the Company.

20
Related party transactions

The Company has taken the exemption not to disclose transactions with its parent undertakings and fellow associate of any Group company on the grounds that it is a 100% owned Subsidiary and the consolidated financial statements of China Cinda Asset Management Co., Ltd, in which the company is included, are publicly available.

21
Controlling party

The immediate parent undertaking is Cinda Agriculture Investment Limited, a company established in the Cayman Islands.

 

The smallest and largest company for which the Group accounts are drawn up and which the company is included is: China Cinda Asset Management Co., Ltd, a joint stock company incorporated in the People's Republic of China with limited liability. This company's registered office is located No 1 Building, 9 Naoshikou Street, Xicheng District, Beijing, PRC.

 

Copies of the Group financial statements, which include the Company are available from the above address.

2023-08-312022-09-01falseCCH SoftwareCCH Accounts Production 2024.100Lu ZhouW AdriaanseB WilliamsD JaffeRaheel Khanfalse0The members have not required the Company to obtain an audit in accordance with section 476 of the Companies Act 2006.For the year ended 31 August 2023, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006.The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.109236682022-09-012023-08-3110923668bus:Director12022-09-012023-08-3110923668bus:Director22022-09-012023-08-3110923668bus:Director32022-09-012023-08-3110923668bus:Director42022-09-012023-08-3110923668bus:Director52022-09-012023-08-3110923668bus:RegisteredOffice2022-09-012023-08-31109236682023-08-3110923668core:ContinuingOperations2022-09-012023-08-31109236682021-09-012022-08-3110923668core:ContinuingOperations12022-09-012023-08-3110923668core:ContinuingOperations12021-09-012022-08-3110923668core:ContinuingOperations2021-09-012022-08-3110923668core:RetainedEarningsAccumulatedLosses2022-09-012023-08-3110923668core:RetainedEarningsAccumulatedLosses2021-09-012022-08-3110923668core:Non-currentFinancialInstruments2023-08-3110923668core:Non-currentFinancialInstruments2022-08-31109236682022-08-3110923668core:ShareCapital2023-08-3110923668core:ShareCapital2022-08-3110923668core:RetainedEarningsAccumulatedLosses2023-08-3110923668core:RetainedEarningsAccumulatedLosses2022-08-3110923668core:OtherMiscellaneousReserve2021-08-3110923668core:ForeignTax12022-09-012023-08-3110923668core:ForeignTax12021-09-012022-08-3110923668core:CurrentFinancialInstruments2023-08-3110923668core:CurrentFinancialInstruments2022-08-311092366812022-09-012023-08-311092366812022-09-012023-08-3110923668bus:PrivateLimitedCompanyLtd2022-09-012023-08-3110923668bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3110923668bus:FullIFRS2022-09-012023-08-3110923668bus:FullAccounts2022-09-012023-08-31xbrli:purexbrli:sharesiso4217:GBP