Company No: 05031408 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	A De Rijke
	J S Lencer
	S Lencer
	P J D Marsh
	S A Morgan (Resigned 01 August 2025)
	J Stichtenoth

REGISTERED OFFICE	37 Coate Street
	London
	E2 9AG
	United Kingdom

COMPANY NUMBER

05031408 (England and Wales)

ACCOUNTANT	Praxis
	1 Fore Street Avenue
	London
	EC2Y 9DT
	United Kingdom

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	333,598		379,231
Investment property	5	1,264,748		1,263,054
		1,598,346		1,642,285
Current assets
Debtors	6	844,994		848,469
Cash at bank and in hand	7	6,882		105,802
		851,876		954,271
Creditors: amounts falling due within one year	8	( 553,220)		( 487,766)
Net current assets		298,656		466,505
Total assets less current liabilities		1,897,002		2,108,790
Creditors: amounts falling due after more than one year	9	( 771,288)		( 771,747)
Net assets		1,125,714		1,337,043
Capital and reserves
Called-up share capital	11	865		865
Capital redemption reserve		1,065		1,065
Profit and loss account		1,123,784		1,335,113
Total shareholder's funds		1,125,714		1,337,043

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of D R M M Limited (registered number: 05031408) were approved and authorised for issue by the Board of Directors on 07 October 2026. They were signed on its behalf by:

Jonas Sebastian Lencer Director

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

D R M M 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 37 Coate Street, London, E2 9AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion.

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.

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 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery etc.	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
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.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	32		46

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	96,000		96,000
At 31 March 2026	96,000		96,000
Accumulated amortisation
At 01 April 2025	96,000		96,000
At 31 March 2026	96,000		96,000
Net book value
At 31 March 2026	0		0
At 31 March 2025	0		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2025	394,710		307,084		701,794
Additions	16,070		0		16,070
At 31 March 2026	410,780		307,084		717,864
Accumulated depreciation
At 01 April 2025	64,383		258,180		322,563
Charge for the financial year	36,234		25,469		61,703
At 31 March 2026	100,617		283,649		384,266
Net book value
At 31 March 2026	310,163		23,435		333,598
At 31 March 2025	330,327		48,904		379,231

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	1,263,054
Additions	1,694
As at 31 March 2026	1,264,748

Valuation

Investment properties are restated annually to their open market value by the directors of the company, based on their experience of the property market and comparable evidence. The directors do not feel the current market valuation is materially different from that shown in these financial statements.

6. Debtors

	2026		2025
	£		£
Trade debtors	549,529		654,960
Amounts owed by related parties	21,778		37,805
Deferred tax asset	17,120		0
Corporation tax	97,400		0
Other debtors	159,167		155,704
	844,994		848,469

Included within Other debtors are amounts owed by the directors totalling £68 (2025:£11,719). The amounts owed in 2025 do not bear interest and are repayable on demand. The amounts owed were also repayable on demand and bore interest at a rate of 2.25%.

7. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	6,882		105,802

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	223,400		73,461
Other taxation and social security	204,954		231,810
Other creditors	124,866		182,495
	553,220		487,766

There are no amounts included above in respect of which any security has been given by the small entity.

Included within Other creditors are amounts owed to the directors totalling £57,059 (2025:£48,741) . The amounts do not bear interest and are repayable on demand.

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

	2026		2025
	£		£
Bank loans (secured)	771,288		771,747

Included in creditors are bank loans secured by a fixed charge over the Company's investment property and also by floating charge over all of the Company's assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans (secured)	771,288		771,747

10. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	0		0
Credited to the Profit and Loss Account	17,120		0
At the end of financial year	17,120		0

11. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
765 Ordinary shares of £ 1.00 each	765		765
10,000 Ordinary B shares of £ 0.01 each	100		100
	865		865

12. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	152,188		157,576
Between one and five years	583,913		590,790
After five years	520,701		666,013
	1,256,803		1,414,379

Pensions

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

	2026		2025
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	8,520		15,696

13. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2026		2025
	£		£
Amounts owed by a company in which owners hold participating interest	21,778		37,805

Transactions with the entity's directors

14. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

15. Ultimate controlling party

Parent Company:

D R M M Holdings Limited

37 Coate Street, London, E2 9AG