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Registered number: 11209008 (England & Wales)
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ACAI (BROMPTON ROAD) LIMITED
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DIRECTORS' REPORT AND AUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
28 February 2025
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Pages for Filing with Registrar
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ACAI (BROMPTON ROAD) LIMITED
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CONTENTS
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Notes to the Financial Statements
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ACAI (BROMPTON ROAD) LIMITED
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COMPANY INFORMATION
- 1 -
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Registered number: 11209008 (England & Wales)
ACAI (BROMPTON ROAD) LIMITED
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BALANCE SHEET
AS AT 28 FEBRUARY 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Directors' Report and Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 7 form part of these financial statements.
- 2 -
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ACAI (BROMPTON ROAD) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
ACAI (Brompton Road) Limited is a private company limited by share capital, incorporated in England and Wales, registered number 11209008. The address of the registered office is of 8 Sackville Street, London, W1S 3DG.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company
The following principal accounting policies have been applied:
As at 28 February 2025 the Company had net current liabilities of £20,547,293 and net assets of £10,401,871. Included within creditors falling due within one year are loans of £60,510 due to the parent and £11,639,493 due to two fellow subsidiaries. The Directors of all entities have confirmed that they do not intend to seek repayment of the loans until the company is in a position to make such repayments without jeopardising its ability to continue as a going concern. As a result, the Directors are of the opinion that the financial statements should be prepared on a going concern basis.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Rental income
Turnover comprises of rent received. Rent received is recognised on a straight line basis over the lease term. The costs of lease incentives are recognised over the lease term on a straight line basis. All turnover arises in the UK.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Profit or Loss Account in the year in which they are incurred.
Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in the Profit and Loss Account.
- 3 -
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ACAI (BROMPTON ROAD) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Current and deferred taxation
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Tax is recognised in the Profit and Loss Account.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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The preparation of the Company's financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of turnover, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the reporting date. However, uncertainty about these assumptions and estimates could results in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.
- 4 -
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ACAI (BROMPTON ROAD) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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The average monthly number of employees, including Directors, during the year was 4 (2024 - 4).
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Freehold investment property
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As at 28 February 2025, the Directors, who are qualified and experienced in property valuation, have revalued the investment property with reference to a historic third party valuation and current market data. The carrying value of the investment property as at 28 February 2025 was £46.5m.
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Prepayments and accrued income
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Other debtors include tenants' deposits of £285,993 (2024 - £160,020).
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- 5 -
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ACAI (BROMPTON ROAD) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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The Company has a loan from PGIM Real Estate Finance LLC secured on the investment property amounting to £13,717,934 (2024 - £13,900,637).
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- 6 -
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ACAI (BROMPTON ROAD) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Charged to Profit and Loss Account
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Short-term timing differences
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Related party transactions
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The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.
During the year the Company incurred a management fee of £144,448 (2024 - £124,075) from a connected company. The balance was outstanding at the year end.
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The immediate parent undertaking is ACAI Investment Holdings Limited, a company incorporated in Jersey.
ACAI Holdings Limited is the ultimate parent company. The company's registered office is 44 Esplanade, St Helier, Jersey, JE4 9WG.
ACAI Group Holdings Limited is the parent of the largest and smallest group which ACAI (Brompton Road) Limited's financial statements are consolidated into. ACAI Group Holdings Limited's registered office is 8 Sackville Street, London, W1S 3DG. The consolidated financial statements can be obtained from Companies House.
The full financial statements from which these Pages for Filing with Registrar have been extracted have been audited by Lewis Golden LLP. The audit report was unqualified and signed by Keith Mitchell (Senior Statutory Auditor at Lewis Golden LLP).
The audit report was signed on 14 October 2025 by Keith Mitchell (Senior Statutory Auditor) on behalf of Lewis Golden LLP.
- 7 -
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