Company No: 06834573 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	14,966		19,955
Investment property	4	2,500,000		2,500,000
		2,514,966		2,519,955
Current assets
Debtors	5	871,972		818,360
Cash at bank and in hand	6	2,308		15,827
		874,280		834,187
Creditors: amounts falling due within one year	7	( 1,022,861)		( 890,622)
Net current liabilities		(148,581)		(56,435)
Total assets less current liabilities		2,366,385		2,463,520
Creditors: amounts falling due after more than one year	8	( 2,500,000)		( 2,500,000)
Net liabilities		( 133,615)		( 36,480)
Capital and reserves
Called-up share capital	9	1		1
Revaluation reserve		986,509		986,509
Profit and loss account		( 1,120,125 )		( 1,022,990 )
Total shareholder's deficit		( 133,615)		( 36,480)

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

Directors' 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 directors acknowledge 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 Statement of Comprehensive Income has not been delivered.

The financial statements of Acereef Limited (registered number: 06834573) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Neil Joseph Gourgey Director

20 May 2026

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

Acereef Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 48 Rochester Row, London, SW1P 1JU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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:

Plant and machinery etc.

25 % reducing balance

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 Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

The Company only enters into basic financial instruments and 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, loans to and from related parties and investments in non-puttable ordinary shares.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 September 2024	38,757		38,757
At 31 August 2025	38,757		38,757
Accumulated depreciation
At 01 September 2024	18,802		18,802
Charge for the financial year	4,989		4,989
At 31 August 2025	23,791		23,791
Net book value
At 31 August 2025	14,966		14,966
At 31 August 2024	19,955		19,955

4. Investment property

	Investment property
	£
Valuation
As at 01 September 2024	2,500,000
As at 31 August 2025	2,500,000

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	1,259,378		1,259,378

The fair value is determined annually by the directors, on an open market value for existing use basis.

5. Debtors

	2025		2024
	£		£
Trade debtors	11,385		16,500
Other debtors	860,587		801,860
	871,972		818,360

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	2,308		15,827

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other taxation and social security	654		0
Other creditors	1,022,207		890,622
	1,022,861		890,622

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	2,500,000		2,500,000

The loan is wholly payable within five years and is secured on the property of the company. Interest is charged at market rates. The directors have provided a guarantee to the bank for the loan.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

10. Related party transactions

In other debtors there is £860,585 (2024: £785,276) due from companies in which the directors have an interest.

Other creditors include amounts of £1,017,207 (2024: £882,705) due to companies in which the directors have an interest.

Management charges of £18,000 (2024: £18,000) have been paid to a company in which directors have an interest.