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Company No: 05826743 (England and Wales)

DRUM RISK MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

DRUM RISK MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DRUM RISK MANAGEMENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
DRUM RISK MANAGEMENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Director P H Hopkins
Secretary I I H Hopkins
Registered office Springfield House
Springfield Road
West Sussex
RH12 2RG
Horsham
United Kingdom
Business address 22 Tudor Street,
LondoN
EC4Y 0AY
Company number 05826743 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
DRUM RISK MANAGEMENT LIMITED

BALANCE SHEET

As at 31 December 2024
DRUM RISK MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 4 126,100 126,100
126,100 126,100
Current assets
Debtors 5 10,793 4,180
Cash at bank and in hand 13,110 17,794
23,903 21,974
Creditors: amounts falling due within one year 6 ( 277,460) ( 343,988)
Net current liabilities (253,557) (322,014)
Total assets less current liabilities (127,457) (195,914)
Net liabilities ( 127,457) ( 195,914)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 127,459 ) ( 195,916 )
Total shareholders' deficit ( 127,457) ( 195,914)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Drum Risk Management Limited (registered number: 05826743) were approved and authorised for issue by the Director on 10 July 2025. They were signed on its behalf by:

P H Hopkins
Director
DRUM RISK MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DRUM RISK MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
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

Drum Risk Management 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 Springfield House, Springfield Road, West Sussex, RH12 2RG, Horsham, United Kingdom. The principal place of business is 22 Tudor Street, London, EC4Y 0AY.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 - 0 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 40,000 40,000
At 31 December 2024 40,000 40,000
Accumulated amortisation
At 01 January 2024 40,000 40,000
At 31 December 2024 40,000 40,000
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 126,100
At 31 December 2024 126,100
Carrying value at 31 December 2024 126,100
Carrying value at 31 December 2023 126,100

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2024
Ownership
31.12.2023
Drum Risk Limited England and Wales Collateral risk management Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Amounts owed by related parties 4,592 0
Other debtors 6,201 4,180
10,793 4,180

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 14,484
Amounts owed to Group undertakings 35,755 4,199
Other creditors 241,705 325,305
277,460 343,988

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Other related party transactions

Drum Risk Limited (subsidiary undertaking)
At the balance sheet date the amount to Drum Risk Limited was £35,754 (2023:£4,199).

Drum Advisory Limited
(P H Hopkins is also a director and shareholder of Drum Advisory Limited)
At the balance sheet date the amount owed by Drum Advisory Limited was £4,592 (2023:£Nil).

9. Ultimate controlling party

The ultimate controlling party is P H Hopkins.