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Registered number: OC451246 TAC UK Storage LLP Unaudited Financial statements Information for filing with the registrar For the year ended 31 December 2025
TAC UK Storage LLP Accountants' report to the members on the preparation of the unaudited statutory financial statements of TAC UK Storage LLP for the period ended 31 December 2025 In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of TAC UK Storage LLP for the year ended 31 December 2025 which comprise the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the members in accordance with the terms of our engagement letter dated 3 March 2025. Our work has been undertaken solely to prepare for your approval the financial statements of TAC UK Storage LLP and state those matters that we have agreed to state to the TAC UK Storage LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TAC UK Storage LLP and its members for our work or for this report. It is your duty to ensure that TAC UK Storage LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of TAC UK Storage LLP. You consider that TAC UK Storage LLP is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of TAC UK Storage LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ 18 August 2026 Page 1
TAC UK Storage LLP Registered number: OC451246 Balance sheet As at 31 December 2025
|  | 2025 |  | Restated 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 1,000 |  | 1,000
|  |  | 1,000 |  | 1,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 15,472,096 |  | 11,645,285 |
|  | 15,472,096 |  | 11,645,285 |
Creditors: Amounts Falling Due Within One Year | 6 | (45,408) |  | (248,289) |
Net current assets |  |  | 15,426,688 |  | 11,396,996
Total assets less current liabilities |  |  | 15,427,688 |  | 11,397,996
Net assets |  |  | 15,427,688 |  | 11,397,996
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Members' other interests |  |  |  |  |
Members' capital classified as equity |  | 15,641,503 |  | 11,447,971 |
Other reserves classified as equity |  | (213,815) |  | (49,975) |
|  |  | 15,427,688 |  | 11,397,996
|  |  | 15,427,688 |  | 11,397,996
Total members' interests |  |  |  |  |
Members' other interests |  |  | 15,427,688 |  | 11,397,996
|  |  | 15,427,688 |  | 11,397,996
Page 2
TAC UK Storage LLP Registered number: OC451246 Balance sheet (continued) As at 31 December 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime. The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements. The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements were approved and authorised for issue by the members and were signed on their behalf on 18 August 2026.
TAC UK Storage (US) Investors LLC
Designated member
The notes on pages 5 to 9 form part of these financial statements. Page 3
TAC UK Storage LLP Reconciliation of members' interests For the year ended 31 December 2025
| EQUITY Members' other interests
| Members' capital (classified as equity) | Other reserves | Total
| £ | £ | £
At incorporation | - | - | -
Loss for the year available for discretionary division among members | - | (49,975) | (49,975)
Members' interests after profit for the year | - | (49,975) | (49,975)
Amounts introduced by members | 11,447,971 | - | 11,447,971
Amounts due to members |  |  |
Amounts due from members |  |  |
Balance at 31 December 2024 (as restated) | 11,447,971 | (49,975) | 11,397,996
Loss for the year available for discretionary division among members | - | (163,840) | (163,840)
Members' interests after profit for the year | 11,447,971 | (213,815) | 11,234,156
Amounts introduced by members | 4,193,532 | - | 4,193,532
Amounts due to members |  |  |
Amounts due from members |  |  |
Balance at 31 December 2025 | 15,641,503 | (213,815) | 15,427,688
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
Page 4
TAC UK Storage LLP Notes to the financial statements For the year ended 31 December 2025
1. | General information
The Company is a limited liability partnership, incorporated in England and Wales. Its registration number is OC451246. The address of the registered office is: 27 Old Gloucester Street London WC1N 3AX 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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. The following principal accounting policies have been applied:
| 2.2 | Going concern
Management has assessed the going concern basis for a period of at least 12 months from the date the financial statements are authorised for issue. This assessment includes consideration of cash flow forecasts, revenue projections, and significant liabilities, with the Entity being supported by the group through financial support. Currently, there are no specific risks identified that could impact the going concern assumption. Management plans to ensure positive cash flows and reserves once the self-storage units have matured. Based on these factors, the financial statements have been prepared on the going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The LLP's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 5
TAC UK Storage LLP Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.4 | Finance costs
Finance costs are charged to profit or loss 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.
| 2.5 | Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period. An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making. The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable. Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the Balance sheet, pending a discretionary decision to divide the profits. In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
| 2.6 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.7 | Debtors
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.
| 2.8 | Creditors
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.
| 2.9 | Financial instruments
Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument. Page 6
TAC UK Storage LLP Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Basic financial liabilities 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 LLP after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The entity has no employees.
| The average monthly number of employees, including directors, during the year was 0 (2024 - 0).
Page 7
TAC UK Storage LLP Notes to the financial statements For the year ended 31 December 2025
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 1,000
| At 31 December 2025 | 1,000
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 15,472,096 | 11,645,285
|  | 15,472,096 | 11,645,285
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 29,148 | 248,289
| Accruals and deferred income | 16,260 | -
|  | 45,408 | 248,289
7. | Prior year adjustment
A prior year adjustment has been made to reclassify the loan from members, which was incorrectly presented as a creditor in the 2024 financial statements. The balance has now been appropriately reallocated to members’ other interest, with comparatives restated accordingly.
| As at 31 December 2024
|  | As originally reported | Adjustment | As restated
|  | £ | £ | £
| Creditors: Amounts falling due within one year | (11,696,260) | 11,447,971 | (248,289)
| Members' capital classified as equity | - | (11,447,971) | (11,447,971)
Page 8
TAC UK Storage LLP Notes to the financial statements For the year ended 31 December 2025
8. | Related party transactions
| The Entity has taken advantage of the exemption provided by section 1AC.35 of FRS 102 to not disclose related party transactions undertaken under normal market conditions.
9. | Controlling party
The Entity's immediate parent undertaking is TAC UK Storage (US) Investors LLC, incorporated in Delaware, USA.
Page 9