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Registered number: 12991606 (England & Wales)
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DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
28 FEBRUARY 2026
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Pages for Filing with Registrar
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CONTENTS
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Notes to the Financial Statements
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COMPANY INFORMATION
- 1 -
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Registered number: 12991606 (England & Wales)
ACAI (DEAN STREET) LTD
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BALANCE SHEET
AS AT 28 FEBRUARY 2026
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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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Provisions for liabilities
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- 2 -
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Registered number: 12991606 (England & Wales)
ACAI (DEAN STREET) LTD
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BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2026
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 year 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 prepared and 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 4 to 7 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
ACAI (Dean Street) Ltd is a private company limited by share capital, incorporated in England and Wales, registered number 12991606. The address of the registered office is 8 Sackville Street, London W1S 3DG.
2.Significant 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 Section 1A - Small Entities of Financial Reporting Standard 102, the 'Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The following principal accounting policies have been applied:
At 28 February 2026, the Company had net current liabilities of £15,958,889. Included within creditors falling due within one year is a loan of £15,794,982 due to a company under common control. The Directors of that company have confirmed that they do not intend to seek repayment of the loan until the Company is in a position to make such a repayment 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 comprises rent received from properties net of VAT. 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.
All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.
Investment property is measured initially at its cost, including related transaction costs. After initial recognition, investment property is carried at fair value determined at the balance sheet date by the Directors 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.
Short-term debtors are measured at the 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Significant accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and with other third parties and 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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There were no employees in the current or prior year.
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- 5 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
At 28 February 2026 the Directors, who are qualified and experienced in property valuation, have revalued the investment property to fair value with reference to current market data.
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Amounts owed by group undertakings
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Creditors: amounts falling due within one year
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Amounts owed to a connected company
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- 6 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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Creditors: amounts falling due after more than one year
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During the prior year, the Company and a fellow subsidiary entered into a £20 million loan agreement. The bank loan is split £6.8m to the Company and £13.2m to a fellow subsidiary. The Company is party to a cross guarantee arrangement under which Barclays Bank PLC holds a fixed and floating charge over the investment property held by the Company.
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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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Potential gain on sale of investment property
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As at the date of the Balance Sheet the Company had capital commitments amounting to £nil (2025 - £520,000).
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Related party transactions
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The Company have taken advantage of the exemption provided in FRS 102 Section 33 "Related Party Disclosures" from disclosing transactions with members of the same group that are wholly owned.
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Information about consolidating parent undertakings
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ACAI Group Holdings Limited is the parent of the smallest group into which ACAI (Dean Street) Ltd's financial statements are consolidated. ACAI Group Holdings Limited's registered office is 8 Sackville Street, London, W1S 3DG. The consolidated financial statements can be obtained from Companies House.
- 7 -
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