REGISTERED NUMBER: 12438565 (England and Wales)

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

FOR

REAL ASSET METHODOLOGY (UK) LTD

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

M Lehtimaki

A F C Bonnet

REGISTERED OFFICE:

7 Clifford Street

London

W1S 2FT

REGISTERED NUMBER:

12438565 (England and Wales)

AUDITORS:

TC Group (Statutory Auditor)

Suite 4

2nd Floor

New Kings Court

Eastleigh

SO53 3LG

The directors present their report with the financial statements of the company for the year ended 31st March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property investment.

REVIEW OF BUSINESS

The profit/(loss) for the year, after taxation, amounted to (£9,552) (2025 - (£4,020)).

During the year, a fire occurred at the Company's investment property, resulting in significant damage to the premises. Following the incident, the property was vacated.

The directors have assessed the financial impact of the fire and have recognised the associated costs and any impairment of assets where appropriate within these financial statements. The Company maintains insurance coverage in respect of property damage and related losses, and claims have been submitted to the insurer. Any insurance recoveries recognised in these financial statements represent amounts that are considered virtually certain of receipt at the reporting date.

The directors continue to monitor the restoration and remediation process and are satisfied that the Company remains able to continue as a going concern.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2025 to the date of this report.

M Lehtimaki

A F C Bonnet

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	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 directors are 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. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TC Group (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Lehtimaki - Director

9th September 2026

Opinion

We have audited the financial statements of Real Asset Methodology (UK) Ltd (the 'company') for the year ended 31st March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2026 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Gillespie FCCA (Senior Statutory Auditor)

for and on behalf of TC Group (Statutory Auditor)

Suite 4

2nd Floor

New Kings Court

Eastleigh

SO53 3LG

22nd September 2026

TURNOVER

-

-

Administrative expenses

153,400

70,852

(153,400

)

(70,852

)

Other operating income

4

143,641

66,663

OPERATING LOSS

6

(9,759

)

(4,189

)

Interest receivable and similar income

38

-

LOSS BEFORE TAXATION

(9,721

)

(4,189

)

Tax on loss

7

(169

)

(169

)

LOSS FOR THE FINANCIAL YEAR

(9,552

)

(4,020

)

FIXED ASSETS

Tangible assets

8

173

1,062

Investment property

9

2,912,589

2,912,589

2,912,762

2,913,651

CURRENT ASSETS

Debtors

10

157,816

33,115

Cash at bank

42,341

71,249

200,157

104,364

CREDITORS

Amounts falling due within one year

11

205,810

101,185

NET CURRENT (LIABILITIES)/ASSETS

(5,653

)

3,179

TOTAL ASSETS LESS CURRENT LIABILITIES

2,907,109

2,916,830

PROVISIONS FOR LIABILITIES

12

33

202

NET ASSETS

2,907,076

2,916,628

CAPITAL AND RESERVES

Called up share capital

13

1

1

Capital contribution reserve

14

2,943,293

2,943,293

Retained earnings

14

(36,218

)

(26,666

)

SHAREHOLDERS' FUNDS

2,907,076

2,916,628

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2026 and were signed on its behalf by:

M Lehtimaki - Director

Called up

Capital

share

Retained

contribution

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st April 2024

1

(22,646

)

2,943,293

2,920,648

Changes in equity

Total comprehensive income

-

(4,020

)

-

(4,020

)

Balance at 31st March 2025

1

(26,666

)

2,943,293

2,916,628

Changes in equity

Total comprehensive income

-

(9,552

)

-

(9,552

)

Balance at 31st March 2026

1

(36,218

)

2,943,293

2,907,076

Cash flows from operating activities

Cash generated from operations

1

(31,972

)

30,325

Tax paid

3,026

-

Net cash from operating activities

(28,946

)

30,325

Cash flows from investing activities

Interest received

38

-

Net cash from investing activities

38

-

(Decrease)/increase in cash and cash equivalents

(28,908

)

30,325

Cash and cash equivalents at beginning of year

2

71,249

40,924

Cash and cash equivalents at end of year

2

42,341

71,249

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.26

31.3.25

£

£

Loss before taxation

(9,721

)

(4,189

)

Depreciation charges

889

889

Increase in amounts owed to groups

112,955

(4,420

)

Finance income

(38

)

-

104,085

(7,720

)

Increase in trade and other debtors

(127,727

)

(271

)

(Decrease)/increase in trade and other creditors

(8,330

)

38,316

Cash generated from operations

(31,972

)

30,325

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

42,341

71,249

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

71,249

40,924

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank

71,249

(28,908

)

42,341

71,249

(28,908

)

42,341

Total

71,249

(28,908

)

42,341

1.	STATUTORY INFORMATION

Real Asset Methodology (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets

The Company's financial assets comprise basic financial instruments, being trade and other receivables and cash balances, that are categorised as being debt instruments measured at amortized cost.

Cash is represented by deposits with financial institutions repayable without penalty on notice of no more than 24 hours.

Trade and other receivables are measured initially at transaction price and thereafter at the undiscounted

amount expected to be received, which is net of any impairment.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expire or

are settled, or when substantially all the risks and rewards of ownership have been transferred.

An impairment loss is measured as the difference between an asset's carrying amount and the amount that the Partnership would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and 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.

Financial liabilities

The Company's financial liabilities comprise basic financial instruments, being trade and other payables that are categorised as financial liabilities measured at amortised cost. These are initially recognised at transaction price and thereafter at the undiscounted amount expected to be paid.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Loans payable are measured at amortised cost using the effective interest rate method. The unwinding of any discount is taken to profit or loss as interest expense and the unamortised balance is included in reserves.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Turnover

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

Turnover is recognised at the point at which the service is delivered. Any amounts received in advance are

treated as a liability until the service is delivered.

Going concern

These accounts have been prepared on a going concern basis. The directors believe this is appropriate as they have reasonable expectations that the Company has adequate resources to meet its liabilities as they fall due for the foreseeable future.

The directors have considered the cash resources of the company and forecasts for a period of at least 12 months from the date of signing these financial statements, and are satisfied that the accounts should be prepared on a going concern basis.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Investment property is originally held at historical cost and revalued for any movement in market value

during the reporting period. Management continually use judgement to ascertain the fair value of the

Company's investment property and assess whether any indicators of impairment exist. In assessing fair

value, reference is made to latest market value estimates. In doing so, management can ascetain whether

an impairment of the investment property should be considered and accounted for in the financial

statements.

4.	OTHER OPERATING INCOME

31.3.26

31.3.25

£

£

Rents received

33,331

66,663

Insurance proceeds

110,310

-

143,641

66,663

5.	EMPLOYEES AND DIRECTORS

The Company has no employees other than the directors, who did not receive any remuneration (2024 -

£NIL).

31.3.26

31.3.25

£

£

Directors' remuneration

-

-

6.	OPERATING LOSS

The operating loss is stated after charging:

31.3.26

31.3.25

£

£

Depreciation - owned assets

889

889

Auditors remuneration

7,260

8,460

7.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

31.3.26

31.3.25

£

£

Deferred tax

(169

)

(169

)

Tax on loss

(169

)

(169

)

Reconciliation of total tax credit included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.26

31.3.25

£

£

Loss before tax

(9,721

)

(4,189

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2025 - 19%)

(1,847

)

(796

)

Effects of:

Expenses not deductible for tax purposes

169

188

recognised

Deferred Tax Movement

(169

)

(169

)

Group relief

1,678

608

Total tax credit

(169

)

(169

)

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st April 2025

and 31st March 2026

2,694

DEPRECIATION

At 1st April 2025

1,632

Charge for year

889

At 31st March 2026

2,521

NET BOOK VALUE

At 31st March 2026

173

At 31st March 2025

1,062

9.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2025

and 31st March 2026

2,912,589

NET BOOK VALUE

At 31st March 2026

2,912,589

At 31st March 2025

2,912,589

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other debtors

25,620

25,909

Tax

-

3,026

Accrued income

127,664

-

Prepayments

4,532

4,180

157,816

33,115

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Amounts owed to group undertakings

157,595

44,640

Other creditors

37,314

45,646

Accrued expenses

10,901

10,899

205,810

101,185

12.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

Accelerated capital allowances

33

202

Deferred

tax

£

Balance at 1st April 2025

202

Provided during year

(169

)

Balance at 31st March 2026

33

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

1

Ordinary

1

1

1

14.

RESERVES

Capital contribution reserve of £2,943,293 represents an injection of funds from the parent company, Methodology Capital Management (UK) Limited, to support the acquisition of an investment property.

15.	ULTIMATE CONTROLLING PARTY

The immediate parent of the Company is Methodology Capital Management (UK) Limited, a company

incorporated in England and Wales, by virtue of its 100% shareholding.

The ultimate parent of the Company is Methodology Group Capital Management Limited; a company

registered in the Cayman Islands. Its registered office and principal place of business is South Church Street,

KY1-9008, George Town, Cayman Islands.

There is no controlling party due to no single shareholder owning more than 50% of the issued share

capital in Methodology Group Capital Management Limited.

16.	RELATED PARTY TRANSACTIONS

Director

The investment property that the company owns is rented by a director, under a rolling lease. The

amount of rental income recognised under this lease for the year ended 31 March 2026 was £33,331

(2025: £66,663)

At 31 March 2026, £37,314 was due to the director (2025: £45,646).

Methodology Capital Management (UK) Limited

At the end of the year, an amount of £157,595 (2025 - £44,740) was owed to Methodology Capital

Management (UK) Limited .

Remuneration paid to members

No remuneration paid

Key management personnel

No key management personnel paid