The UUID stands for Universally Unique Identifier. UUID is an simple 128 bit digit which uniquely distributed across the world.
Bluetooth sends data over air and all nearby device can receive it. Let's suppose, sometimes you have to send some important files via Bluetooth and all near by devices can access it in range. So when you pair with the other devices, they simply share the UUID number and match before sharing the files. When you send any file then your device encrypt that file with appropriate device UUID and share over the network. Now all Bluetooth devices in the range can access the encrypt file but they required right UUID number. So Only right UUID devices have access to encrypt the file and others will reject cause of wrong UUID.
In short, you can use UUID as a secret password for sharing files between any two Bluetooth devices.