DUNDEE PIKCO LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").”

Group structure

1. DUNDEE PIKCO LIMITED · parent
   1. Dundee Holdco 3 Limited 1% · United Kingdom · Holding company
   2. Doncasters US Finance LLC 1% · United States · Financing company

Significant events

• “During the year ended 31 December 2024 a group-wide intercompany loan simplification project was undertaken.”
• “Company subscribed for an additional 10,000,000,000 1p ordinary shares and share premium of £959.8 million in Dundee Holdco 3 Limited, its wholly owned subsidiary.”
• “Company reduced its share premium to create £300.0 million of additional distributable reserves and subsequently declared a dividend to the immediate parent company Alloy Parent Limited.”
• “Company also received a dividend of £174.4 million from Dundee Holdco 3 Limited, which was settled by the transfer of newly created United States Dollar denominated preference shares.”
• “As part of the Group refinancing in April 2024 the Company issued an additional 4,581,638,600 1p ordinary shares which were fully subscribed by the immediate parent company, Alloy Parent Limited.”
• “On 25 April 2025, the Alloy Parent Limited Group drew an additional $50 million on the same terms as the existing term loan facility, which increased the level of liquidity available to the Group.”
• “Subsequent to the year end, as part of the group intercompany loan simplification project, inter-company accrued interest of $22.0 million was fully settled following receipt of US tax clearance.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

11

last 12 months

Capital events

4

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  +61.7%

  £526,869,000 → £851,849,000

• Employees

  —

  Not reported

• Operating profit

  +15,563.6%

  -£1,402,000 → £216,799,000

• Profit before tax

  +1,380.3%

  -£27,814,000 → £356,114,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers