Financial Statements 2017/18
27. Events after the reporting period
There have been no material events after the reporting date which would require disclosure or adjustment to the financial statements for the year ended 31 July 2018.
28. Subsidiary undertakings
The transactions relating to the following trading subsidiary companies, wholly-owned or effectively controlled by the University, have been included within the Consolidated financial statements. Principal trading subsidiary
Parent interest in ordinary shares voting rights
MU Ventures Limited MU Services Limited
Middlesex Services Limited (Hong Kong)
Middlesex Uni (SEA) SDN BHD
Middlesex Educational Services (Mauritius) Limited
Middlesex International (Dubai) FZ-LLC
100% owned
100% owned 100% owned
100% owned 100% owned 100% owned Principal activity
Contract research and consultancy services
Professional support services
Student recruitment and marketing services
Student recruitment and marketing services
Student recruitment and marketing services
Training and development, academic staff provision
Country of incorporation
England and Wales
England and Wales Hong Kong
Malaysia Mauritius
Dubai/United Arab Emirates
MU Ventures Limited owns 76% of Middlesex University (Malta) Limited. On 2 May 2018 Middlesex University acquired the remaining 24% ownership of Middlesex University (Malta) Limited after purchasing the shareholding of STC International Limited.
MU Ventures Limited owns 100% of Middlesex Educational Consulting (Beijing) Co., Ltd., a company incorporated and registered in China on 15 December 2017 which commenced trading on 1 February 2018.
MU Services Limited was incorporated in England and Wales on 2 November 2017 and is a dormant company having not trading during the year.
Middlesex Services Limited (Hong Kong) owns 70% of MDXU Limited with 30% owned by The Tiger Investment and Finance Company Limited.
Middlesex International (Dubai) FZ-LLC owns 51% of Middlesex International (Mauritius) Limited with 49% owned by Medine Limited.
MU UK Consultants Limited and Middlesex Education Private Limited do not have share capital disclosed above, but their results, assets and liabilities for the year ended 31 July 2018 are included in the consolidated financial statements by virtue of the fact that the University has dominant influence over financial and operating policies. MU UK Consultants Limited is incorporated and registered in Dubai/UAE and Middlesex Education Private Limited incorporated and registered in India with both providing student recruitment and marketing services to the University within those regions overseas.
The board believe that the carrying value of the investments in the trading subsidiary companies as disclosed at note 15 is supported by the subsidiary company net assets and/or business plans.
Middlesex University
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