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Company No: 09925425 (England and Wales)

DRUM RISK LIMITED

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

DRUM RISK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DRUM RISK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
DRUM RISK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Director P H Hopkins
Registered office Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
United Kingdom
Business address 22 Tudor Street
London
EC4Y 0AY
Company number 09925425 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
DRUM RISK LIMITED

BALANCE SHEET

As at 31 December 2024
DRUM RISK LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 9,604 9,604
9,604 9,604
Current assets
Debtors 4 209,958 227,924
Cash at bank and in hand 30,362 3,144
240,320 231,068
Creditors: amounts falling due within one year 5 ( 31,538) ( 92,469)
Net current assets 208,782 138,599
Total assets less current liabilities 218,386 148,203
Creditors: amounts falling due after more than one year 6 ( 9,644) ( 19,908)
Net assets 208,742 128,295
Capital and reserves
Called-up share capital 7 126,100 126,100
Profit and loss account 82,642 2,195
Total shareholder's funds 208,742 128,295

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 Limited (registered number: 09925425) 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 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DRUM RISK 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 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, Horsham, West Sussex, RH12 2RG, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 6

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 9,604
At 31 December 2024 9,604
Carrying value at 31 December 2024 9,604
Carrying value at 31 December 2023 9,604

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2024
Ownership
31.12.2023
000 Drum Risk Management Russia Collateral risk management Ordinary 100.00% 100.00%
Drum Risk Yonetimi Limited Turkey Collateral risk management Ordinary 100.00% 100.00%
T00 Drum Risk Management Ukraine Collateral risk management Ordinary 100.00% 100.00%
Drum Risk Management Bulgaria Collateral risk management Ordinary 100.00% 100.00%
Drum Risk Management India Private Limited India Collateral risk management Ordinary 100.00% 100.00%

4. Debtors

2024 2023
£ £
Trade debtors 95,854 67,455
Amounts owed by Group undertakings 39,725 6,576
Amounts owed by related parties 60,530 142,843
Prepayments 0 849
Other debtors 13,849 10,201
209,958 227,924

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 10,276 12,102
Trade creditors 10,712 17,738
Amounts owed to director 306 8,570
Accruals 3,800 5,050
Other taxation and social security 2,963 46,625
Other creditors 3,481 2,384
31,538 92,469

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

2024 2023
£ £
Bank loans 9,644 19,908

Drum Risk Limited took out a Bounce Back Loan Scheme (BBLS) on 16 November 2020 for £50,000 and agreed a five-year repayment term. The government has undertaken to pay any lender-levied fees plus the first year’s interest charge in year one for this type of loan. The loan carries a nominal interest rate of 2.5% per year.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
126,100 Ordinary shares of £ 1.00 each 126,100 126,100

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,970 (2023 - £4,679). Contributions totalling £Nil (2023 - £911) were due to the fund at the balance sheet date.

9. Related party transactions

Other related party transactions

Drum Risk Management Limited (Parent company)
At the balance sheet date the amount owed by Drum Risk Management Limited is £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 is £60,530 (2023: £142,842).

Drum Risk Management (Bulgaria)
(P H Hopkins is also a director and shareholder of Drum Risk Management Bulgaria)
At the balance sheet date the amount owed by Drum Risk Management Bulgaria is £3,971 (2023: £Nil)

10. Ultimate controlling party

The ultimate parent undertaking is Drum Risk Management Limited and the controlling party is P H Hopkins.