Financial Statements 2019/2020
MIDDLESEX UNIVERSITY NOTES TO THE ACCOUNTS (continued)
Year Ended 31 July 2020
30. SUBSIDIARY UNDERTAKINGS Principal trading subsidiary
MU Ventures Limited MU Services Limited
Middlesex Services Limited (Hong Kong)
Middlesex International (Dubai) FZ-LLC
Middlesex University (Malta) Limited
100% owned
100% owned 100% owned
Middlesex Uni (SEA) SDN BHD 100% owned 100% owned 100% owned
Parent interest in ordinary shares voting rights
Principal activity
Contract research and consultancy services
Dormant
Student recruitment and marketing services
Student recruitment and marketing services
Training and development, academic staff provision
Education services and campus administration
MU Ventures Limited has ownership of the following companies overseas:
— 100% of Middlesex Educational Consulting (Beijing) Co., Ltd., a company incorporated and registered in China providing student recruitment and marketing services to the University in that region.
— 99.99% of MU Ventures India Private Limited, a company incorporated and registered in India on 5 November 2019 and commenced trading in May 2020. It provides student recruitment and marketing services to Middlesex University in that region. The remaining 0.01% of MU Ventures India Private Limited is owned by Middlesex International (Dubai) FZ-LLC.
— 100% of Middlesex Education Private Limited, a company incorporated and registered in India that has ceased trading during the year and will be dissolved in the period ending 31 July 2021.
MU Services Limited is a dormant company having not traded during the year.
Middlesex International (Dubai) FZ-LLC owns 51% of Middlesex International (Mauritius) Limited with 49% owned by Medine Limited.
Middlesex University Higher Education Corporation – Dubai Branch does not have share capital disclosed above, but the results, assets and liabilities for the year ended 31 July 2020 are included in the consolidated Financial Statements by virtue of the fact that the University has dominant influence over financial and operating policies. The company is incorporated and registered in Dubai/UAE providing student recruitment and marketing services to the University in that region overseas.
The Board believe that the carrying value of the investments in the trading subsidiary companies as disclosed at note 16 is supported by the subsidiary company net assets and/or business plans.
Country of incorporation
England and Wales
England and Wales Hong Kong
Malaysia
Dubai/United Arab Emirates
Malta
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Middlesex University
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