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Company No: SC495587 (Scotland)

# DESTINY STUDENT LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH THE REGISTRAR

DESTINY STUDENT LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2025

Contents

DESTINY STUDENT LIMITED

## BALANCE SHEET

AS AT 31 OCTOBER 2025
DESTINY STUDENT LIMITED

## BALANCE SHEET (continued)

AS AT 31 OCTOBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 440 |  | 14,058
Investments | 4 | 79 |  | 79
|  | 519 |  | 14,137
Current assets |  |  |  |
Debtors | 5 | 1,189,475 |  | 45,983
Cash at bank and in hand |  | 359,284 |  | 6,478,330
|  | 1,548,759 |  | 6,524,313
Creditors: amounts falling due within one year | 6 | ( 569,340) |  | ( 5,525,152)
Net current assets |  | 979,419 |  | 999,161
Total assets less current liabilities |  | 979,938 |  | 1,013,298
Provision for liabilities | 7 | ( 110) |  | ( 3,515)
Net assets |  | 979,828 |  | 1,009,783
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 979,728 |  | 1,009,683
Total shareholder's funds |  | 979,828 |  | 1,009,783

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Destiny Student Limited (registered number: SC495587) were approved and authorised for issue by the Director on 22 July 2026. They were signed on its behalf by:

A Landsburgh Director |

DESTINY STUDENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2025
DESTINY STUDENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Destiny Student Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Bearford House, 39 Hanover Street, Edinburgh, EH2 2PJ, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Revenue is recognised when the significant risks and rewards of the goods are services provided are transferred to the buyer, the amounts of revenue can be measured reliably and it is probably that the economic benefits associated with the transaction will flow to the company.
Revenue represents the total invoice value, excluding value added tax, of sales made during the year.
Revenue for the company comprises the following streams:
1. Sale of goods - Revenue from the sale of food and beverages is recognised at the point of sale
2. Rendering of services - Revenue from room sales and other guest services is recognised when rooms are occupied and as services are provided.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings | 3 years straight line
Computer equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors 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 payments 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. Amounts 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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 11 |  | 13

#### 3. Tangible assets

| Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 November 2024 | 28,132 |  | 14,933 |  | 43,065
At 31 October 2025 | 28,132 |  | 14,933 |  | 43,065
Accumulated depreciation |  |  |  |  |
At 01 November 2024 | 19,491 |  | 9,516 |  | 29,007
Charge for the financial year | 8,640 |  | 4,978 |  | 13,618
At 31 October 2025 | 28,131 |  | 14,494 |  | 42,625
Net book value |  |  |  |  |
At 31 October 2025 | 1 |  | 439 |  | 440
At 31 October 2024 | 8,641 |  | 5,417 |  | 14,058

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 November 2024 | 79
At 31 October 2025 | 79
Carrying value at 31 October 2025 | 79
Carrying value at 31 October 2024 | 79

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 31.10.2025 | Ownership 31.10.2024
Destiny Student Limited | Republic of Ireland | Hostel Rental and Management | Ordinary | 100.00% | 100.00%

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by related parties | 1,187,802 |  | 0
Other debtors | 1,673 |  | 45,983
| 1,189,475 |  | 45,983

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 188 |  | 2,737
Amounts owed to Group undertakings | 419,916 |  | 5,277,924
Taxation and social security | 113,573 |  | 216,474
Other creditors | 35,663 |  | 28,017
| 569,340 |  | 5,525,152

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 110 |  | 3,515

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Financial commitments

Commitments

Capital commitments are as follows:

| 2025 |  | 2024
| £ |  | £
Contracted for but not provided for: |  |  |
Finance leases entered into | 2,017,690 |  | 1,377,000

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
Within one year | 2,017,690 |  | 675,000
Between one and five years | 0 |  | 702,000
Total future minimum lease payments under non-cancellable operating leases | 2,017,690 |  | 1,377,000

#### 10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of disclosure exemptions available under Section 33 for FRS 102 whereby it has not disclosed transactions entered into with any wholly-owned subsidiary of the group.

#### 11. Ultimate controlling party

The parent company of Destiny Student Limited is Code Concepts Group Limited (15095779).
The registered office of Code Concepts Group Limited is C/O Johnston Carmichael LLP, Birchin Court, Birchin Lane, London. EC3V 9DU.