REGISTERED NUMBER: 05943518 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Jiefang Media (UK) Co. Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J Cen

W Shen

T Zhao

REGISTERED OFFICE:

9 St Clare Street

London

EC3N 1LQ

REGISTERED NUMBER:

05943518 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

CURRENT ASSETS

Debtors

5

34,888,744

37,533,783

Cash at bank

2,225,288

2,387,177

37,114,032

39,920,960

CREDITORS

Amounts falling due within one year

6

35,410,305

37,678,690

NET CURRENT ASSETS

1,703,727

2,242,270

TOTAL ASSETS LESS CURRENT LIABILITIES

1,703,727

2,242,270

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

1,673,727

2,212,270

1,703,727

2,242,270

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 15 September 2026 and were signed on its behalf by:

J Cen - Director

1.	STATUTORY INFORMATION

Jiefang Media (UK) Co. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The company meets its day to day working capital requirements through its bank reserve and financial support from its immediate parent company. The directors concluded that the company has adequate resources to continue in operational existence for the next 12 months from the date of signing the financial statements. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Valuation of investments

Unlisted Investments include convertible bonds which were purchased with the intention of holding to maturity, and are stated at amortised cost less impairment. The amortised cost is assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. While the bonds issuer was trading, the directors considered that it was not practical to make a reliable estimate of the fair value of the bonds at previous period ends.

Investments in listed company shares are stated at historical cost less impairment. The directors consider that significant fluctuation in the share price might have a significant but temporary impact on the Company’s net assets, and that accounting for such volatility would not best represent the Company's state of affairs. Accordingly, the directors have adopted what they consider to be a more prudent approach by reflecting investments in the financial statement at the balance sheet date on the cost rather than the fair value basis.

FRS102 requires that both of these financial instruments should be accounted for on the basis "fair value through profit and loss" unless the fair value cannot be reliably estimated in which case "amortised cost less impairment " is the required basis of accounting.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other Investments

COST

£

At 31 December 2024 and 31 December 2025

20,835,388

IMPAIRMENT

At 31 December 2024 and 31 December 2025

20,835,388

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Amounts owed by group undertakings

34,888,744

37,533,783

Included in the amount owed by group undertakings, there is a loan of £31,329,099 (2024: £33,743,204) and accrued interest of £2,074,452 (2024: £2,231,702) on the loan. The movement is purely related to foreign exchange gain. The loan is unsecured and was amended to be interest free and repayable on demand following the loan amendment in 2023.

Included in the amounts owed by group undertakings, the amounts of £1,485,193 (2024: £1,558,879) represent expenses paid by the company on behalf of group undertakings. The balances are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Amounts owed to group undertakings

35,398,305

37,639,823

Other creditors

12,000

38,867

35,410,305

37,678,690

Included in the amounts owed to group undertakings, the amounts of £4,484,876 (2024: £4,676,220) represent expenses paid by group undertakings on behalf of the company. The balances are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Included in the amounts owed to group undertakings, there is a loan of £25,383,702 (2024: £27,014,706) and accrued interest of £5,529,727 (2024: £5,948,897). The movement is purely related to foreign exchange loss. The loan is unsecured, interest free and is repayable on demand.

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

The Report of the Auditors was unqualified.

Partha Ghosh FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company and the largest group to consolidate these financial statements is Shanghai Xinhua Distribution Group Co., Limited, a state owned company registered in P. R. China and copies of the consolidated financial statements can be obtained from Level 20, No. 331 North Caoxi Road, Shanghai, China, 200030.

There is no one controlling party.