The director presents his report with the financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council.

No strategic report has been prepared as the Director has opted to apply the exemption available to small companies as per Section 414B of the Companies Act 2006.

The principal activity of the Company in the year under review was that of developing real estate properties and holding real estate assets in the UK.

Review of Business

The Company was incorporated on the 30th of June 2015 and was established to venture out to the UK for real estate development and to hold UK real estate assets.

In 2016, the Company purchased a real estate property in London (Title number LN107342) and novated the previous lease agreement signed between the previous landlord and tenant for a term of 15 year beginning on, and including the 24th of June 2016. The Company receives rent in advance on a quarterly basis of £12,500 (excluding VAT).

Going Concern

The directors, after carrying out necessary enquiries, believe that the Company has adequate sources of funding to meet its future investments and the payment of its expenses and is well placed to manage its business risk successfully.

After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. Accordingly, the Company has adopted the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in note 1.2 to the financial statements.

No dividend was paid during the year (2024: nil).

H Rodriguez Elias held office during the financial year from 1 January 2025 to the date of this report.

The company is limited by shares and registered in England and Wales. The Company is UK tax resident.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

• select suitable accounting policies and then apply them consistently;

• state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The accompanying notes on pages 6 to 11 form an integral part of these financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in accordance with section 476 of the Companies Act 2006.

The accompanying notes on pages 6 to 11 form an integral part of these financial statements.

The accompanying notes on pages 6 to 11 form an integral part of these financial statements.

Tremon UK Holdings limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O CSC CLS (UK) Limited, 5 Churchill Place, 10th Floor, London, United Kingdom, E14 5HU.

Information regarding the principal activities of the Company is included in the Report of the Director on page 1.

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

• the requirements of Section 4 Statement of Financial Position paragrah 4.12(a)(iv);

• the requirements of Section 7 Statement of Cash Flows;

• the requirements of Section 3 Financial Statement Presentation paragraph 3.1 (d);

• the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Related party exemption

The Company has taken advantage of exemptions, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiares within the group.

The financial statements have been prepared on a going concern basis because there are no material uncertainties related to events or conditions that may cast significant doubt about the Company's ability to continue as a going concern.true

The turnover and loss before taxation are attributable to the one principal activity of the Company.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property is initially measured at cost, including transaction costs. Such cost should not include start-up costs, abnormal waste, or initial operating losses incurred before the investment property achieves the planned level of occupancy. The estimated useful lives for the current and comparative periods are as follows:

The residual value and the useful life of an asset should be reviewed at least at each financial year-end and, if expectations differ from previous estimates, any change is accounted for prospectively as a change in estimate.

The depreciation method used should reflect the pattern in which the asset's economic benefits are consumed by the entity; a depreciation method that is based on revenue that is generated by an activity that includes the use of an asset is not appropriate.

Depreciation begins when the asset is available for use and continues until the asset is derecognised, even if it is idle.

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 current liabilities.

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction. In this case, the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar instrument. Basic financial instruments are subsequently measured at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constituted a financing transaction. In this case, the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar instrument. Basic financial liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Tangible fixed assets acquired uder finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed asets. The related obligations, net of future finance charge, are included in creditors.

Foreign currencies

Functional currency and presentation currency:                                

The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position are presented in Sterling (£).                                

Transactions and balances:                                

In preparing the financial statements of the individual entities, transactions in currencies other than the functional currency of the individual entities (foreign currencies) are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.                                                            

Exchange differences are recognised in profit or loss in the period in which they arise. However, in the consolidated financial statements exchange differences arising on monetary items that form part of the net investment in a foreign operation are recognised in other comprehensive income and are not reclassified to profit or loss.                                

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2025 nor for the year ended 31 December 2024.

The Company's investments property is measured in accordance with the cost model: cost less accumulated depreciation and accumulated impairment losses.

The Company holds one class of investment property (office building) in the UK. Revenues are derived from a single tenant.

At 31 December 2025, the Company's portfolio of financial investments consisted of alternative investments, equities and fixed income assets.

The portfolio is revalued at the end of the year at the market value rates and the resulting profit/loss is charged to the profit and loss account.

All foreign currency investments are converted to GBP at the exchange rate prevailing at the valuation date.

At 31 December 2025, all called-up share capital has been fully paid.

The revaluation reserve (£71,142 at 2025; same at 2024) give a fair and true representation of the shareholder's equity.This reserve carries the differences in value of paid initial share capital that resulted when comparing the cash received in the bank accounts and the value of each disbursements translated at the exchange rate ruling on the 30th June 2015 (date when the initial share capital was called).

No subsequent events have been noted since year end.

There was no related party transactions during the financial year 2025.

Grupo Inmobiliario Tremon S.A. (incorporated in Spain) is regarded by the director as being the Company's ultimate parent company.