1.
General Information
Unicorn Real Estate Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11020140
. The registered office is 111 Airedale Avenue South, London, W4 2PX.
The presentation currency of the financial statements is the Pound Sterling (£).
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes
2.3.
Tangible Fixed Assets and Depreciation
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Assets held under finance leases are depreciated in the same way as owned assets.
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
|
2.4.
Investment Properties
All investment properties are carried at 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 for. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these adjustments at the rate expected to apply when the properties are sold.
2.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6.
Taxation
2.6.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
Unicorn Real Estate Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
4.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 November 2024 |
|
| Additions |
|
| As at 31 October 2025 |
|
| Depreciation | |
| As at 1 November 2024 |
|
| Provided during the period |
|
| As at 31 October 2025 |
|
| Net Book Value | |
| As at 31 October 2025 |
|
| As at 1 November 2024 |
|
5.
Investment Property
| 31 October 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 November 2024 |
|
| Revaluations | (120,000) |
| As at 31 October 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 507,430 | 507,430 | |
Fair value at 31 October 2025 is represented by:
Unicorn Real Estate Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
|
£
|
|
|
Valuation in 2020
|
42,570
|
|
Valuation in 2021
|
(20,000)
|
|
Valuation in 2022
|
(40,000)
|
|
Valuation in 2023
|
35,000
|
|
Valuation in 2024
|
75,000
|
|
Valuation in 2025
|
(120,000)
|
|
Cost
|
507,430
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
480,000
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
Investment property was valued on an open market basis on 31 October 2025 by D&G Property Consultants.
6.
Investments
| Listed | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 November 2024 |
|
| Additions |
|
| Disposals |
( |
| Revaluations |
( |
| As at 31 October 2025 |
|
| Provision | |
| As at 1 November 2024 |
|
| As at 31 October 2025 |
|
| Net Book Value | |
| As at 31 October 2025 |
|
| As at 1 November 2024 |
|
7.
Debtors
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Amounts owed by group undertakings |
|
|
|
|
|
|
||
Unicorn Real Estate Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
8.
Creditors: Amounts Falling Due Within One Year
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax | - |
|
|
| Other taxes and social security |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
| Directors' loan accounts |
|
|
|
|
|
|
||
9.
Creditors: Amounts Falling Due After More Than One Year
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
Of the creditors falling due after more than one year the following amounts are due after more than five years.
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
10.
Secured Creditors
Of the creditors the following amounts are secured.
The company has granted standard security in favour of Aldermore Bank Plc over 37 Park West Edgware Road, London,
W2 2QG.
The company has also granted a debenture comprising the floating charge in favour of Aldermore Bank Plc over the undertaking and all property and assets present and future. The charge contains negative pledge.
The Chargor acting as a bare trustee for the property.
| 31 October 2025 | 31 October 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 369,584 | 369,592 |
11.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 November 2024 |
|
27,360 |
| Additions |
( |
(25,956) |
| Balance at 31 October 2025 |
|
1,404 |
Unicorn Real Estate Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
12.
Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
| As at 1 November 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 October 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Frederic Elcherif |
( |
|
( |
- |
( |
| Mrs Mi Jeong Jin |
( |
|
( |
- |
( |
The above loans are interest free and has no fixed repayment terms.
13.
Reserves
| Revaluation reserve | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 November 2024 |
|
|
| Loss for the year and total comprehensive income | - |
( |
| Dividends paid | - | (35,000) |
| Transfer from revaluation reserve | - | 77,032 |
| Transfer to/from Profit & Loss Account |
( |
- |
| As at 31 October 2025 |
|
|
14.
Related Party Transactions
As at 31 October 2025, there is a loan balance due of £227,531 (2023: £144,995) to a company that is owned and controlled by one of the directors.
This loan is interest free and has no fixed repayment terms.