Company registration number 14358605 (England and Wales)
UNICA CAPITAL LONDON LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
UNICA CAPITAL LONDON LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 10
UNICA CAPITAL LONDON LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,916
-
0
Investment property
5
13,700,000
14,000,000
13,707,916
14,000,000
Current assets
Debtors
6
623,730
297,461
Cash at bank and in hand
45,498
22,899
669,228
320,360
Creditors: amounts falling due within one year
7
(13,755,668)
(12,697,297)
Net current liabilities
(13,086,440)
(12,376,937)
Total assets less current liabilities
621,476
1,623,063
Provisions for liabilities
8
(92,380)
(330,451)
Net assets
529,096
1,292,612
Capital and reserves
Called up share capital
9
333,000
333,000
Profit and loss reserves
10
196,096
959,612
Total equity
529,096
1,292,612

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 February 2026 and are signed on its behalf by:
Mr R F Da Silva Guerreiro
Director
Company registration number 14358605 (England and Wales)
UNICA CAPITAL LONDON LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 15 September 2022
-
0
-
0
-
Period ended 31 December 2023:
Profit and total comprehensive income
-
959,612
959,612
Issue of share capital
9
333,000
-
333,000
Balance at 31 December 2023
333,000
959,612
1,292,612
Year ended 31 December 2024:
Loss and total comprehensive income
-
(763,516)
(763,516)
Balance at 31 December 2024
333,000
196,096
529,096
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Unica Capital London Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Cork Street, London, United Kingdom, W1S 3LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. As at 31 December 2024 the company had net current liabilities due to amounts owed to connected companies and the loan taken out to purchase the property. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future due to the parent company undertaking to provide financial support for the company as necessary. true

1.3
Turnover

Turnover represents rent and service charges receivable from tenants, net of VAT, in accordance with their lease terms on an accruals basis.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33.33% Straight Line Basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
2
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
-
0
Additions
10,800
At 31 December 2024
10,800
Depreciation and impairment
At 1 January 2024
-
0
Depreciation charged in the year
2,884
At 31 December 2024
2,884
Carrying amount
At 31 December 2024
7,916
At 31 December 2023
-
0
5
Investment property
2024
£
Fair value
At 1 January 2024
14,000,000
Additions
4,500
Revaluations
(304,500)
At 31 December 2024
13,700,000

Investment property comprises of commercial property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Kroll Advisory Ltd as at 31 December 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors do not consider there to be a material difference in valuation between the valuation date and the period end date.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
36,733
88,515
Amounts owed by group undertakings
21,771
20,071
Other debtors
522,641
148,047
581,145
256,633
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Debtors
(Continued)
- 7 -
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
42,585
40,828
Total debtors
623,730
297,461
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,979,957
8,841,055
Trade creditors
73,936
53,557
Amounts owed to group undertakings
2,948,292
2,082,477
Taxation and social security
43,485
36,311
Other creditors
1,709,998
1,683,897
13,755,668
12,697,297

The bank loan from CBH Compagnie Bancaire Helvetique SA is secured by way of a fixed charge and a floating charge in respect of all of the freehold property known as firstly 55 Poland Street, London W1F 7NL registered at the land registry under title number LN79356, and secondly 56 Poland Street, London W1F 7NN registered at the land registry under title number LN252385.

8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
2024
Balances:
£
Accelerated capital allowances
58,996
Tax losses
(310,717)
Revaluations of investment property
344,101
92,380
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Deferred taxation
(Continued)
- 8 -
2024
Movements in the year:
£
Liability at 1 January 2024
330,451
Credit to profit or loss
(238,071)
Liability at 31 December 2024
92,380

Deferred tax has been reflected at 25%, being the rate substantively enacted in the year, in accordance with the company’s accounting policies.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1000 each
333
333
333,000
333,000

On 15 September 2022 1 share was issued on incorporation with a nominal value of £100 for a consideration of £100. On 2 November 2022 the nominal value of shares was increased to £1,000. A further 332 shares were allotted for a consideration of £332,000.

10
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
959,612
-
0
Adjusted balance
959,612
-
0
(Loss)/profit for the year
(763,516)
959,612
At the end of the year
196,096
959,612

Included within profit and loss reserves are non-distributable profits, as set out below:

2024
2023
£
£
Non-distributable profits included above
At the beginning of the year
1,260,679
-
Non distributable profits in the year
(228,375)
1,260,679
At the end of the year
1,032,304
1,260,679
Distributable profits
(836,208)
(301,067)
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Daniel Graves BA(Hons) FCA
Statutory Auditor:
Azets Audit Services
Date of audit report:
13 February 2026
UNICA CAPITAL LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
12
Operating lease commitments

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
Total commitments
6,648,990
942,300
13
Related party transactions

During the period, Unica Capital Holding Limited, the parent company, provided financial support to Unica Capital London Limited. This support was comprised of an interest free intercompany account with a balance of £2,948,292 as at 31 December 2024 (2023: £2,082,477).

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
2,948,292
2,082,477
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