2023-01-012023-12-312023-12-31false08326542KINGDOM EDUCATION GROUP (UK) 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KINGDOM EDUCATION GROUP (UK) LIMITED

Registered Number
08326542
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

KINGDOM EDUCATION GROUP (UK) LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Mr Sam YANG

Registered Address

Wellington House
East Road
Cambridge
CB1 1BH

Registered Number

08326542 (England and Wales)
KINGDOM EDUCATION GROUP (UK) LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors5,618,236271,259
Cash at bank and on hand3,89814,013
22,134285,272
Creditors amounts falling due within one year7(1,143,407)(1,630,078)
Net current assets (liabilities)(1,121,273)(1,344,806)
Total assets less current liabilities(1,121,273)(1,344,806)
Creditors amounts falling due after one year8(244,014)(323,613)
Net assets(1,365,287)(1,668,419)
Capital and reserves
Called up share capital300,0011
Profit and loss account(1,665,288)(1,668,420)
Shareholders' funds(1,365,287)(1,668,419)
The financial statements were approved and authorised for issue by the Director on 20 October 2024, and are signed on its behalf by:
Mr Sam YANG
Director
Registered Company No. 08326542
KINGDOM EDUCATION GROUP (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
Despite the overdrawn balance sheet, the company has the full backing from the parent company and controlling parties who will continue to support the business. The shareholder has considered the risks and issues concerning the company and its activities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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. Computer software is being amortised evenly over its estimated useful life of three years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 239,9929,992
At 31 December 239,9929,992
Amortisation and impairment
At 01 January 239,9929,992
At 31 December 239,9929,992
Net book value
At 31 December 23--
At 31 December 22--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 231,8911,891
Disposals(1,891)(1,891)
Depreciation and impairment
At 01 January 231,8911,891
On disposals(1,891)(1,891)
Net book value
At 31 December 23--
At 31 December 22--
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables18,23618,236
Total18,23618,236
6.Debtors: amounts due after one year

2023

2022

££
Other debtors-253,024
Total-253,024
7.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties868,5141,472,317
Other creditors266,569154,511
Accrued liabilities and deferred income8,3243,250
Total1,143,4071,630,078
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts244,014323,613
Total244,014323,613
9.Share capital
The Share Capital is allotted, called up and fully paid. 300,001 (2022 - 1) Ordinary shares of £1.00 each The holders of the 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.
10.Related party transactions
The company owes £nil (2022: £154,511) to Hiawatha, a company wholly owned by Mr B Yang, brother of Mr S Yang. The company is owed £nil (2022: £253,024) from Coja, a company wholly owned by Mr Kuo Chang WU, uncle of Mr S Yang. The company owes £266,569 (2022: £nil) to Mr S Yang, a director of the company. Mr S Yang is a director and sole shareholder of Kingdom Education Group LLC (parent of the company).