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Registered number: 16484896
TREC CAPITAL FAIRACRE LIMITED
Unaudited
Financial statements
Information for filing with the registrar
For the 7 month Period Ended 31 December 2025
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TREC CAPITAL FAIRACRE LIMITED
Registered number: 16484896
Balance sheet
As at 31 December 2025
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Debtors: amounts falling due within one year
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Cash and cash equivalents
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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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TREC CAPITAL FAIRACRE LIMITED
Registered number: 16484896
Balance sheet (continued)
As at 31 December 2025
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
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.
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 statement of comprehensive income 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 on 25 September 2026.
The notes on pages 4 to 10 form part of these financial statements.
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TREC CAPITAL FAIRACRE LIMITED
Statement of changes in equity
For the 7 month Period Ended 31 December 2025
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Comprehensive income for the period
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Shares issued during the period
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Total transactions with owners
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The notes on pages 4 to 10 form part of these financial statements.
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
TREC Capital Fairacre Limited is a private limited company, limited by shares and incorporated and domiciled in the UK. The Company's registered office is provided on the Company information page.
The principal activity of the Company is that of investment property.
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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).
The following principal accounting policies have been applied:
The Directors have undertaken an assessment of the ability of the Company to continue as a going concern for the next 12 months from the date of approval of these financial statements.
The Directors consider that the Company will have adequate financial resources to enable it to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.
The Directors have assessed the going concern status of the Company and concluded that there are no material uncertainties that may cast significant doubt about the Company's ability to continue as a going concern.
Accordingly, the financial statements are prepared on the going concern basis.
Revenue includes rental income, fees receivable from early termination of leases and fees receivable for compensation of dilapidation of property.
Rental income from operating leases is recognised on a straight-line basis over the lease term. When the Company provides incentives to its tenants, the cost of incentives are capitalised and recognised over the lease term, on a straight-line basis, as a reduction of rental income.
Amounts received from tenants to terminate leases or to compensate for dilapidations and other tenant recoverables are recognised in the statement of comprehensive income when the right to receive them arises.
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
2.Accounting policies (continued)
Interest income is recognised in profit or loss using the effective interest method.
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.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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 profit or loss.
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.
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
Called up share capital
Called up share capital is the nominal amount of the Company’s ordinary shares in issue
Profit and loss account
Profit and loss account represent the profits of the Company.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related
actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Investment property
The fair value of investment properties is determined by using valuation techniques. Further details of judgements and assumptions made are disclosed in note 6.
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
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Period Ended
31 December 2025
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Legal and professional fees
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The Company has no employees other than the Directors, who did not receive any remuneration during the period.
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The investment property valuation contains a number of assumptions which the fair value was based upon. The assumptions include, but are not limited to, matters such as the tenure and tenancy details for the property, structural condition of the property, prevailing market yields and comparable market transactions. These assumptions are market standard and are in accordance with the Royal Institution of Chartered Surveyors (RICS) Global Standards (incorporating the International Valuation Standards).
Market Value as defined by RICS is "the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm's length transaction after proper marketing and where the parties had each acted knowledgably, prudently and without compulsion". Market Value as defined in the RICS Valuation Standards is the equivalent of fair value under IFRS.I
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
6.Investment property (continued)
nvestment property is reclassified as held for sale where the property is being actively marketed for sale on or before the Statement of Financial Position date and where a letter of intent of purchase has been provided by the buyer, the property has exchanged for sale, or the property has sold post the Statement of Financial Position date.
Changes to fair values are recognised as gains or losses in the Statement of Comprehensive Income. Changes to fair value of the investment property is included in 'Unrealised gain/(loss) on revaluation of investment properties'. For investment property which are disposed of during the financial year, changes to fair value from reported valuation and fair value upon disposal are included in 'Realised gain/(loss) on sale of investment properties'.
(i) Valuation process
The valuation of investment property is performed annually by the external valuers comprising the income approach (yield method). Under the income approach (yield method), a property's fair value is estimated based on the normalised net operating income generated by the property, which is divided by the capitalisation rate (the investor's rate of return).
There were no changes in valuation technique during the period.
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Debtors: amounts falling due within one year
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Amounts owed by group undertakings
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Cash held by the property manager
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Prepayments and accrued income
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Amounts owed by group undertakings are interest free, unsecured and repayable on demand except those which are financing in nature whereby a market rate of interest is applied.
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Cash and cash equivalents
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
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Creditors: amounts falling due within one year
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Interest payable on loans from parent undertakings
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Accruals and deferred income
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Creditors: amounts falling due after more than one year
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Interest payable on bank loans
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Loans from parent undertakings
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Loans from parent undertakings
On 27 November 2025, the Company entered into a interest bearing loan facility of £473,604 with TREC Capital Propco Limited, the parent company. The loan incurs interest at the Bank of England Base Rate plus 4.5% per annum and is repayable on 30 September 2028. The facility was fully drawn as at 31 December 2025. Interest payable at 31 December 2025 amounted to £3,815 (note 9).
Bank loans
On 18 July 2026, the Company entered into an interest bearing facility with TREC LendCo 2 Limited. The loan incurs interest of 6.50% per annum and is repayable on 30 September 2028. The loan is secured by a fixed charge over the Company's investment property (note 6). Interest accrued at 31 December 2025 for the period amounted to £58,484 and is payable on maturity of the loan on 30 September 2028.
Note provides additional information and the corresponding interest relating to the loans.
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TREC CAPITAL FAIRACRE LIMITED
Notes to the financial statements
For the 7 month Period Ended 31 December 2025
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Operating leases - Company as lessor
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At 31 December 2025, the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Allotted, called up and fully paid
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3 Ordinary share of £1.00 each
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On 30 May 2025, the Company issued 3 ordinary shares of £1 each, for a total consideration of £3.
The Company’s immediate parent is TREC Capital Propco Limited.
TREC Capital Propco Limited is wholly owned by TREC Capital LLP (formerly Grey Cat Capital V LLP), a company registered in the United Kingdom. There is no ultimate controlling party of TREC Capital LLP (formerly Grey Cat Capital V LLP).
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