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REGISTERED NUMBER: 12994762 (England and Wales)

| RAAM LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 NOVEMBER 2025 |

RAAM LIMITED (REGISTERED NUMBER: 12994762)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

RAAM LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2025

| DIRECTORS: | Mrs P Rambojun

| R Rambojun

| REGISTERED OFFICE: | Apartment 5 The Courthouse

| 70 Horseferry Road

| London

| London

| SW1P 2DU

| REGISTERED NUMBER: | 12994762 (England and Wales)

RAAM LIMITED (REGISTERED NUMBER: 12994762)

BALANCE SHEET

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 7,829,158 |  | 7,065,199 |  |

CURRENT ASSETS

Debtors | 5 | 31,914 |  | 18,168 |  |

Cash at bank | 38,305 |  | 34,996 |  |

70,219 |  | 53,164 |  |

CREDITORS

Amounts falling due within one year | 6 | 167,625 |  | 193,319 |  |

NET CURRENT LIABILITIES | (97,406 | ) | (140,155 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,731,752 |  | 6,925,044 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (4,996,707 | ) | (4,212,150 | ) |

PROVISIONS FOR LIABILITIES | 8 | (403,362 | ) | (397,927 | ) |

NET ASSETS | 2,331,683 |  | 2,314,967 |  |

RAAM LIMITED (REGISTERED NUMBER: 12994762)

BALANCE SHEET - continued

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 9 | 300 |  | 300 |  |

Share premium | 2,498,870 |  | 2,498,870 |  |

Retained earnings | (167,487 | ) | (184,203 | ) |

SHAREHOLDERS' FUNDS | 2,331,683 |  | 2,314,967 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2026 and were signed on its behalf by:

Mrs P Rambojun - Director

RAAM LIMITED (REGISTERED NUMBER: 12994762)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

| Raam Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

| At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Significant judgements and estimates

| In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Investment properties - The fair value of investment properties involved the use of professional valuation techniques, which are r eviewed annually by management. Where factors that could impact the fair value are identified, appropriate adjustments are made through the income statement.

| Turnover

| Turnover represents rental income from investment properties and is recognised on a straight-line basis over the term of the lease. Rental income is accounted for on an accruals basis and is recognised in the period to which it relates.

| Income is measured at the fair value of the consideration received or receivable and excludes value-added tax (VAT) and other sales taxes where applicable.

RAAM LIMITED (REGISTERED NUMBER: 12994762)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Investment properties are held to generate rental income and capital appreciation. Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Investment properties are subsequently remeasured at fair value. An assessment of investment property fair value is performed annually. Any changes in fair value are recognised in the income statement.

| Deferred tax is recognised on any fair value changes at the rate that would apply to the sale of the investment property, unless the property has a limited useful life and is held as part of a business model to consume all of the economic benefits associated with it.

| Cash & cash equivalents

| Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Financial instruments

| The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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.

| Basic financial assets

| Basic financial assets, which include trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

| Basic financial liabilities

| Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

| 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.

RAAM LIMITED (REGISTERED NUMBER: 12994762)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 December 2024 | 7,065,199 |  |

| Additions | 763,959 |  |

| At 30 November 2025 | 7,829,158 |  |

| NET BOOK VALUE

| At 30 November 2025 | 7,829,158 |  |

| At 30 November 2024 | 7,065,199 |  |

| Investment properties are measured at fair value at the reporting date. The fair values have been determined by the directors, based upon formal valuations carried out for loan security purposes. These valuations consider recent market transactions for similar properties, rental yields, and other relevant market factors.

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 31,914 |  | 18,168 |  |

RAAM LIMITED (REGISTERED NUMBER: 12994762)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 52,656 |  | 66,653 |  |

| Other creditors | 114,969 |  | 126,666 |  |

167,625 |  | 193,319 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 4,996,707 |  | 4,212,150 |  |

8. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 403,362 |  | 397,927 |  |

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 397,927 |  |

| Charge in the year | 5,435 |  |

| Balance at 30 November 2025 | 403,362 |  |

| The deferred tax liability of £403,362 (2024 : £397,927) arises from carry forward trading losses and the fair value increase of investment properties over their original cost, resulting in a taxable temporary difference between their carrying value and their tax base cost.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 300 | Ordinary | 1 | 300 |  | 300 |  |

10. | SECURED LIABILITIES

| As at 30 November 2025, the company had bank loans amounting to £5,049,363 (2024 : £4,278,804), which are secured by fixed and floating charges over the company's investment properties.

RAAM LIMITED (REGISTERED NUMBER: 12994762)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

11. | TRANSACTIONS WITH DIRECTORS

| As at 30 November 2025 the company owed the directors £111,868 (2024 : £106,266) which is included within the creditors amounts falling due within one year.

| The balance is interest free and repayable on demand.

12. | ULTIMATE CONTROLLING PARTY

| The company is controlled by Mrs P Rambojun, by virtue of her majority shareholding in the company.