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REGISTERED NUMBER: SC627974 (Scotland)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

AECR UK INVESTMENT I LIMITED

AECR UK INVESTMENT I LIMITED (REGISTERED NUMBER: SC627974)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AECR UK INVESTMENT I LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: M L Molton
A Hewitson
A M Four



SECRETARY: Alter Domus (Uk) Limited



REGISTERED OFFICE: c/o Brodies
110 Queen Street
Glasgow
G1 3BX



REGISTERED NUMBER: SC627974 (Scotland)



INDEPENDENT AUDITORS: MGR Weston Kay LLP
55 Loudoun Road
St John's Wood
London
NW8 0DL



BANKERS: Landesbank Baden-W³rttemberg
Am Hauptbahnhof 2
70173 Stuttgart
Germany



BANKERS: Société Générale
189 Rue d'Aubervilliers
75886 Paris Cedex 18
France

AECR UK INVESTMENT I LIMITED (REGISTERED NUMBER: SC627974)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Investment property 3 24,980,000 27,780,000

CURRENT ASSETS
Debtors 4 755,775 1,014,391
Cash at bank 539,627 379,621
1,295,402 1,394,012
CREDITORS
Amounts falling due within one year 5 (616,677 ) (785,721 )
NET CURRENT ASSETS 678,725 608,291
TOTAL ASSETS LESS CURRENT LIABILITIES 25,658,725 28,388,291

CREDITORS
Amounts falling due after more than one year 6 (24,275,000 ) (24,975,000 )
NET ASSETS 1,383,725 3,413,291

CAPITAL AND RESERVES
Called up share capital 7 3 2
Share premium account 11,107,374 10,707,375
Retained earnings (9,723,652 ) (7,294,086 )
SHAREHOLDERS' FUNDS 1,383,725 3,413,291

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





M L Molton - Director


AECR UK INVESTMENT I LIMITED (REGISTERED NUMBER: SC627974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. ACCOUNTING POLICIES

Accounting convention
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.

Turnover
Turnover represents the amounts receivable for rental income, service charge income and insurance apportioned on a daily basis net of VAT.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the year are included in profit or loss.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 27,780,000
Revaluations (2,800,000 )
At 30 April 2024 24,980,000
NET BOOK VALUE
At 30 April 2024 24,980,000
At 30 April 2023 27,780,000

The investment property is stated at the directors' estimate of market value at the balance sheet date based on a report by an independent valuer.

AECR UK INVESTMENT I LIMITED (REGISTERED NUMBER: SC627974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 24,980,000

4. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 333,538 81,629
Other debtors 117,746 628,271
451,284 709,900

Amounts falling due after more than one year:
Other debtors 304,491 304,491

Aggregate amounts 755,775 1,014,391

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 22,449 182,672
Amounts owed to group undertakings 167,888 41,625
Taxation and social security - 70,398
Other creditors 426,340 491,026
616,677 785,721

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 19,280,000 19,980,000
Other creditors 4,995,000 4,995,000
24,275,000 24,975,000

Loans totalling £19,280,000 (2023: £19,980,000) are secured by charges on the investment property and fixed and floating charges on the parent company Institutional Investment-Partner GMBH's assets.

AECR UK INVESTMENT I LIMITED (REGISTERED NUMBER: SC627974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1 3 2

On 26 January 2024, 1 Ordinary share was issued for cash at £400,000 per share, with a par value of £1, generating £399,999 share premium.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Walfisz FCA (Senior Statutory Auditor)
for and on behalf of MGR Weston Kay LLP

9. PARENT COMPANY

The parent company is Institutional Investment-Partners GMBH a company incorporated in Germany whose accounts are available to the public and may be obtained from Hamburger Allee 45, 60486 Frankfurt am Main.

10. COMPANY INFORMATION

AECR UK Investment I Limited is a company limited by shares incorporated in Scotland. The registered office is C/O Brodies, 110 Queen Street, Glasgow, G1 3BX.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.