Yuniv Limited 14098649 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is ownership and management of a residential investment property. Digita Accounts Production Advanced 6.30.9574.0 true true 14098649 2023-06-01 2024-05-31 14098649 2024-05-31 14098649 bus:OrdinaryShareClass1 2024-05-31 14098649 bus:OrdinaryShareClass2 2024-05-31 14098649 core:RetainedEarningsAccumulatedLosses 2024-05-31 14098649 core:ShareCapital 2024-05-31 14098649 core:CurrentFinancialInstruments 2024-05-31 14098649 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14098649 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 14098649 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-05-31 14098649 bus:SmallEntities 2023-06-01 2024-05-31 14098649 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14098649 bus:FullAccounts 2023-06-01 2024-05-31 14098649 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14098649 bus:RegisteredOffice 2023-06-01 2024-05-31 14098649 bus:Director1 2023-06-01 2024-05-31 14098649 bus:Director2 2023-06-01 2024-05-31 14098649 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 14098649 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 14098649 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14098649 core:KeyManagementPersonnel 2023-06-01 2024-05-31 14098649 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-01 2024-05-31 14098649 countries:England 2023-06-01 2024-05-31 14098649 2023-05-31 14098649 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 14098649 2022-05-10 2023-05-31 14098649 2023-05-31 14098649 bus:OrdinaryShareClass1 2023-05-31 14098649 bus:OrdinaryShareClass2 2023-05-31 14098649 core:RetainedEarningsAccumulatedLosses 2023-05-31 14098649 core:ShareCapital 2023-05-31 14098649 core:CurrentFinancialInstruments 2023-05-31 14098649 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14098649 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 14098649 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 14098649 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-10 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14098649

Yuniv Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Yuniv Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Yuniv Limited

Company Information

Directors

R Juttla

H S Juttla

Registered office

21 Priors Gardens
Ruislip
Middlesex
HA4 6UG

 

Yuniv Limited

(Registration number: 14098649)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

531,034

531,034

Current assets

 

Debtors

5

600

-

Cash at bank and in hand

 

10,582

7,320

 

11,182

7,320

Creditors: Amounts falling due within one year

6

(208,249)

(207,454)

Net current liabilities

 

(197,067)

(200,134)

Total assets less current liabilities

 

333,967

330,900

Creditors: Amounts falling due after more than one year

6

(331,249)

(331,048)

Net assets/(liabilities)

 

2,718

(148)

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

2,518

(348)

Shareholders' funds/(deficit)

 

2,718

(148)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Statement of Comprehensive Income and the directors' report at the Registrar of Companies has been taken, in accordance with the special provision applicable to companies subject to small companies regime.

Approved and authorised by the Board on 31 December 2024 and signed on its behalf by:
 

.........................................
R Juttla
Director

 

Yuniv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where otherwise disclosed in these accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 Section 1A may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies.

In preparing these financial statements the directors have had to make the following significant judgement:

- the directors have made an assumption in the determination of the fair value of the investment property in respect of the state of property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. There is an inevitable degree of judgement involved in that every property is unique and value can only ultimately be reliably tested in the market itself. The valuation method is further described in note 4 together with the valuation of the property at the reporting date.

There were no other significant judgements or areas of estimation uncertainty.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis. As set out in the statement of directors' responsibilities, the directors are required to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors have prepared forecasts and projections covering a period of greater than 12 months from the date of approval of these financial statements which show that the company can continue to operate with the resources currently available. At the time of approving the financial statements, the directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the financial statements.

 

Yuniv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Turnover

Turnover is measured at the fair value of the rental income receivable during the year. Turnover arises solely in the United Kingdom.

Tax

The tax expense for the year comprises current and where applicable, deferred tax. Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Investment property

Investment property is carried at its fair value, determined annually 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.

Cash at bank and in hand

Cash comprises cash at bank and in hand.

Borrowings

Loan issue and related costs are charged to profit or loss over the term of the related borrowings. The amortisation charge is included within interest and similar charges in the statement of comprehensive income. Borrowings are shown in the balance sheet net of unamortised loan issue costs.

Financial instruments

Classification
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.
 Recognition and measurement
The company's cash at bank and in hand, other debtors and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.
 

3

Employee information

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Yuniv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Investment property

2024
£

At 1 June 2023

531,034

At 31 May 2024

531,034

The investment property was valued at 31 May 2024 by H S Juttla, a director of the company, at fair value. The valuation which continues to equate to the acquisition costs at the date of acquisition and was arrived at after consideration of the most recently available market evidence of transaction prices for similar properties around its location on a vacant possession basis and takes into account the director's assessment of the state of the rental market around the area where the property is situated.

5

Debtors

2024
£

2023
£

Other debtors

600

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Taxation and social security

 

618

-

Directors' loans

8

205,631

205,604

Other creditors

 

2,000

1,850

 

208,249

207,454

Creditors: amounts falling due after more than one year

2024
£

2023
£

Loan

331,249

331,048

The loan is secured by a fixed and floating charge over all the company's assets, including the investment property.

 

Yuniv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

'A' Ordinary shares of £1 each of £1 each

100

100

100

100

'B' Ordinary shares of £1 each of £1 each

100

100

100

100

 

200

200

200

200

8

Related party transactions

Loans from related parties

2024

Directors
£

At start of period

205,604

Advanced during the period

27

At end of period

205,631

2023

Directors
£

Advanced during the period

205,604

At end of period

205,604

Terms of loans from related parties

Loans from the directors of the company are unsecured, interest free and repayable on demand.