General Information
Uninist Limited is a private company, limited by shares, registered in England and Wales, registration number 14137586, registration address 5, Great James Street, London, England, WC1N 3DB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. During the year ended 31 August 2025, the company incurred a loss of £1,861,404 (2024: £504,955) and, as at that date, had net liabilities of £2,391,015 (2024: £529,611). The company's current liabilities exceeded its current assets by £2,236,067 (2024: £413,885).
The directors have considered the going concern position of the company carefully, taking into account the following factors:
The company has experienced significant revenue growth during the year, with turnover increasing to £4,238,279 (2024: £2,287,917), representing an increase of approximately 85% year-on-year. The directors believe this growth trajectory demonstrates the underlying commercial viability and expanding scale of the business.
The losses in the current year are primarily attributable to the high cost base associated with scaling operations, including increased rent and commission costs incurred to support new accommodation lettings, and substantial investment in advertising to grow the student accommodation portfolio.
The company continues to receive financial support from its holding company, Uniliv Accommodation Ltd, and from related party Londonist DMC Ltd, both of which have confirmed their intention to continue to provide funding support as required to enable the company to meet its liabilities as they fall due.
The directors have reviewed the company's cash flow projections and future trading expectations and are satisfied that, with the continued support of its shareholders and related parties, the company will have sufficient resources to continue in operational existence for a period of not less than twelve months from the date of approval of these financial statements.
On the basis of the above, the directors consider it appropriate to continue to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a failure to secure continued financial support.
Turnover
Turnover comprises income from student and residential accommodation lettings and related services. Letting income is recognised on a straight-line basis over the term of the tenancy agreement. Where income is received in advance of the period to which it relates, it is deferred and recognised in the appropriate period. Commission and agency income is recognised when the related service obligation has been fulfilled and entitlement to receipt is established. The company recognises revenue on a net basis where it acts as agent and on a gross basis where it acts as principal.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except as otherwise required by FRS 102 Section 29. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.
Deferred tax assets and liabilities are measured using the tax rates expected to apply in the periods in which the timing differences reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
20 % Reducing Balance
|
Stocks
Stocks consist of consumable items held for use in the provision of accommodation services, primarily comprising bedding packs, linen, and related household supplies.
Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first-in, first-out (FIFO) basis and includes the purchase price plus any directly attributable costs of bringing the stocks to their present location and condition. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and selling expenses.
Write-downs to net realisable value and any reversals of such write-downs are recognised in the income statement.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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| 2. |
Average number of employees
Average number of employees during the year was 3 (2024 : 3).
|
| 3. |
Intangible fixed assets
| Cost |
CRM Software |
|
Total |
| |
£ |
|
£ |
| At 01 September 2024 |
25,000 |
|
25,000 |
| Additions |
45,322 |
|
45,322 |
| Disposals |
- |
|
- |
| At 31 August 2025 |
70,322 |
|
70,322 |
| Amortisation |
| At 01 September 2024 |
4,321 |
|
4,321 |
| Charge for year |
7,666 |
|
7,666 |
| On disposals |
- |
|
- |
| At 31 August 2025 |
11,987 |
|
11,987 |
| Net book values |
| At 31 August 2025 |
58,335 |
|
58,335 |
| At 31 August 2024 |
20,679 |
|
20,679 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 September 2024 |
2,378 |
|
2,378 |
| Additions |
1,002 |
|
1,002 |
| Disposals |
- |
|
- |
| At 31 August 2025 |
3,380 |
|
3,380 |
| Depreciation |
| At 01 September 2024 |
267 |
|
267 |
| Charge for year |
476 |
|
476 |
| On disposals |
- |
|
- |
| At 31 August 2025 |
743 |
|
743 |
| Net book values |
| Closing balance as at 31 August 2025 |
2,637 |
|
2,637 |
| Opening balance as at 01 September 2024 |
2,111 |
|
2,111 |
|
| 5. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Uniliv Accommodation Limited | (3,597) | | (927) | | (104,524) | | (50,927) | | Londonist Dmc Ltd | (2,040) | | (2,189) | | (110,791) | | (87,589) |
The company has an outstanding loan from Uniliv Accommodation Limited, a 50% shareholder. The loan is unsecured, carries interest at 4.25% per annum, and has no fixed repayment date. During the year ended 31 August 2025, a further advance of £50,000 was received (2024: initial loan of £50,000 received 26 March 2024). Interest is accrued monthly and added to the loan balance. No interest has been paid in either year. The company has an outstanding loan from Londonist DMC Limited, a 50% shareholder. The loan is unsecured, carries interest at 4.25% per annum, and has no fixed repayment date. Interest is accrued monthly and held in a separate interest payable creditor account. No interest has been paid in either year. |
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