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REGISTERED NUMBER: 07754025 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

K12 EDUCATION (UK) LIMITED

K12 EDUCATION (UK) LIMITED (REGISTERED NUMBER: 07754025)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


K12 EDUCATION (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTORS: J J Rhyu
N A Davis





SECRETARY: J L Mathis-Hull





REGISTERED OFFICE: Whitefriars 11th Floor
Lewins Mead
Bristol
BS1 2NT





REGISTERED NUMBER: 07754025 (England and Wales)





AUDITORS: Auria Audit LLP
Statutory Auditors
4 Wimpole Street
London
W1G 9SH

K12 EDUCATION (UK) LIMITED (REGISTERED NUMBER: 07754025)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Debtors 6 - 1,190
Cash at bank - 3,165
- 4,355
CREDITORS
Amounts falling due within one year 7 (391,161 ) (3,944,557 )
NET CURRENT LIABILITIES (391,161 ) (3,940,202 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(391,161

)

(3,940,202

)

CREDITORS
Amounts falling due after more than one year 8 (3,643,522 ) -
NET LIABILITIES (4,034,683 ) (3,940,202 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (4,034,783 ) (3,940,302 )
SHAREHOLDERS' FUNDS (4,034,683 ) (3,940,202 )

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 4 March 2019 and were signed on its behalf by:





J J Rhyu - Director


K12 EDUCATION (UK) LIMITED (REGISTERED NUMBER: 07754025)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1. STATUTORY INFORMATION

K12 Education (UK) 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 the provisions of Section 1A "Small Entities" of Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which is not applicable as the directors ceased trading
during FY 2017. There are no material adjustments required by preparing the financial statements on a break up basis

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 nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated
useful life.

Computer Equipment - 33% on cost

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 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 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 balance sheet 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 NIL (2017 - 2 ).

K12 EDUCATION (UK) LIMITED (REGISTERED NUMBER: 07754025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
At 1 July 2017 4,031
Disposals (4,031 )
At 30 June 2018 -
Amortisation
At 1 July 2017 4,031

Eliminated on disposal (4,031 )
At 30 June 2018 -
Net book value
At 30 June 2018 -
At 30 June 2017 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 July 2017 22,334
Disposals (22,334 )
At 30 June 2018 -
Depreciation
At 1 July 2017 22,334
Eliminated on disposal (22,334 )
At 30 June 2018 -
Net book value
At 30 June 2018 -
At 30 June 2017 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
VAT - 1,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Amounts owed to group undertakings 385,211 3,938,602
Accrued expenses 5,950 5,955
391,161 3,944,557

K12 EDUCATION (UK) LIMITED (REGISTERED NUMBER: 07754025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Amounts owed to group undertakings 3,643,522 -

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 July 2017 (3,940,302 )
Deficit for the year (94,481 )
At 30 June 2018 (4,034,783 )

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

The Report of the Auditors was unqualified.

Roy Davis (Senior Statutory Auditor)
for and on behalf of Auria Audit LLP

12. RELATED PARTY DISCLOSURES

At the year end the amounts owed by K12 Education (UK) Ltd to its related parties were as follows:

2018 2017
£ £
K12, Inc (8,556 ) 10,990
K12 Services, Inc (45,051 ) (15,185 )
K12 Management, Inc (19,960 ) (20,434 )
K12 International Holdings B.V. (3,956,246 ) (3,915,055 )
K12 GmbH 1,082 1,082

K12 Education (UK) Ltd entered into a revised loan agreement with K12 International Holdings B.V. as of an effective date of 1
February 2018. The entire unpaid principal balance shall be due and payable in full 3 years from the effective date of 1 February
2018. The principal of the loan bears interest at the long term applicable federal rate and interest is accrued on a monthly basis.

13. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of K12 International Holdings BV, a company incorporated in the Netherlands. The
ultimate parent company is K12 Inc, a company incorporated in the USA.