Company registration number 13017311 (England and Wales)
STB2 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
STB2 LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
STB2 LIMITED
BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
90,016
-
0
Current assets
Debtors
6
8,756,577
4,580,763
Cash at bank and in hand
2,096,749
1,910,182
10,853,326
6,490,945
Creditors: amounts falling due within one year
7
(8,437,707)
(5,112,251)
Net current assets
2,415,619
1,378,694
Total assets less current liabilities
2,505,635
1,378,694
Provisions for liabilities
(22,000)
-
Net assets
2,483,635
1,378,694
Capital and reserves
Called up share capital
8
104,220
104,220
Profit and loss reserves
2,379,415
1,274,474
Total equity
2,483,635
1,378,694

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

The directors of the company have 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 22 January 2026 and are signed on its behalf by:
C J Platts
Director
Company registration number 13017311 (England and Wales)
STB2 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
104,220
2,078,556
2,182,776
Year ended 30 June 2024:
Profit and total comprehensive income
-
695,918
695,918
Dividends
-
(1,500,000)
(1,500,000)
Balance at 30 June 2024
104,220
1,274,474
1,378,694
Year ended 30 June 2025:
Profit and total comprehensive income
-
1,104,941
1,104,941
Balance at 30 June 2025
104,220
2,379,415
2,483,635
STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

STB2 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 6, 1 New Era Square, Sheffield, England, S2 4RB.

1.1
Basis of preparation

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Unihomes Group Limited. These consolidated financial statements are available from its registered office, Floor 6, 1 New Era Square, Sheffield, England, S2 4RB.

1.2
Revenue

The company provides property advertising via its portal and utility package management services to customers. The company has determined that it is not afforded the risks and rewards of all elements of the utility package and some of the total package income is classified as a disbursement and not recognised in the accounts. To attribute the amount of disbursement revenue to apportion, the company uses its own model which is based on data for usage and underlying utility charges.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Development costs
Straight line over 3 years
1.6
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:

Computers
Straight line over 3 years

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
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.

1.9
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.

STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
Fair value measurement of financial instruments

In the normal course of business, the company forward buys energy tariffs on behalf of its customers. These obligations are not recognised in the financial statements in accordance with FRS102 section 12.5.

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

1.10
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.

1.11
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.

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.

STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -

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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Turnover recognition and cost accruals

As set out in note 1.2 the Company's revenue recognition policy involves the apportionment of income from customers, between earned income and disbursement income (which is not recognised in the financial statements). To make the required apportionment, the company has developed its own model to project the estimated usage and cost by utility package that typical households in differing sized dwellings would be expected to use, which in turn provides the basis for the income allocation until actual costs are billed.

STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
3
Employees

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

2025
2024
Number
Number
Total
6
4

All contracts of employment are held by its parent company, Unihomes and Bills Limited.

4
Intangible fixed assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 July 2024
5
45,338
45,343
Additions - internally developed
-
0
102,465
102,465
At 30 June 2025
5
147,803
147,808
Amortisation and impairment
At 1 July 2024
5
45,338
45,343
Amortisation charged for the year
-
0
12,449
12,449
At 30 June 2025
5
57,787
57,792
Carrying amount
At 30 June 2025
-
0
90,016
90,016
At 30 June 2024
-
0
-
0
-
0
5
Tangible fixed assets
Computers
£
Cost
At 1 July 2024 and 30 June 2025
60,500
Depreciation and impairment
At 1 July 2024 and 30 June 2025
60,500
Carrying amount
At 30 June 2025
-
0
At 30 June 2024
-
0
STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
24,865
17,178
Amounts owed by group undertakings
8,480,385
4,276,784
Other debtors
247,327
282,801
8,752,577
4,576,763
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset
4,000
4,000
Total debtors
8,756,577
4,580,763
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
899,670
705,436
Amounts owed to group undertakings
3,557,497
1,798,557
Corporation tax
164,566
112,625
Other taxation and social security
125,811
61,626
Other creditors
3,690,163
2,434,007
8,437,707
5,112,251
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
104,220
104,220
104,220
104,220
9
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:

STB2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
9
Audit report information
(Continued)
- 9 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit 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:
Paul Winwood
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
22 January 2026
10
Financial commitments, guarantees and contingent liabilities

The Company's bankers hold an Unlimited Multilateral Guarantee and debenture between the following group companies: Unihomes Group Limited, Unihomes and Bills Limited, STB2 Limited and Student Trading Limited.

11
Events after the reporting date

On the 3rd of October 2025, the UniHomes group took a significant investment from Macquarie European Investment Holdings Limited, with existing investors LDC also continuing to hold a minority investment.

12
Related party transactions

The company has taken advantage of the exemption provided by FRS 102 from the requirement to report transactions with other group companies that are 100% subsidiaries of the parent company.

13
Parent company

The results for STB2 Limited are consolidated in Unihomes Group Limited and are available from the Registrar of Companies.

Following the post year end transaction explained within note 10, the group is now headed by Ursula Topco Limited. Its registered office is Floor 6, 1 New Era Square, Sheffield, England, S2 4RB.

In the opinion of the directors, there is no single controlling party.

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