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Registered number: 13569302
NORTHCHILD PROPERTIES (UK) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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NORTHCHILD PROPERTIES (UK) LIMITED
REGISTERED NUMBER: 13569302
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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NORTHCHILD PROPERTIES (UK) LIMITED
REGISTERED NUMBER: 13569302
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2025.
The notes on pages 3 to 5 form part of these financial statements.
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NORTHCHILD PROPERTIES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Northchild Properties (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 13569302. The registered office is 1 Mark Street, London, E15 4GY.
The Company's functional and presentational currency is GBP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has no employees other than the directors, who did not receive any remuneration (2023-£NIL).
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NORTHCHILD PROPERTIES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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Freehold investment property
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The 2024 valuations were made by the director, on an open market value for existing use basis.
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Amounts owed by group undertakings
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Called up share capital not paid
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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NORTHCHILD PROPERTIES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due after more than 5 years
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Allotted, called up and partly paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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Related party transactions
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At 31 July 2024, a balance of £10,016,243 was due to Miao Yang a shareholder and director.
As ar 31 July 2024, the company is due the following balances from related parties.
Beifang Education Group Limited - £1,370,602 (2023: £1,269,735)
Northchild Education (UK) Limited - £2,657,267 (2023: £902,722)
Northchild Properties (Central House) Limited - £167,623 (2023: £97,726)
Northchild Properties Development Limited - £1,003 (2023: £1,003)
Northchild Group Limited - £2,696 (2023: £703)
UOP London Pathway - £12,251 (2023: Nil)
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The ultimate controlling party is Miao Yang.
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