Company registration number 09353616 (England and Wales)
HARROW THE HUB (HOLDINGS) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
HARROW THE HUB (HOLDINGS) LIMITED
COMPANY INFORMATION
Director
A Sheikh
Company number
09353616
Registered office
Parkview House Ground Floor
82 Oxford Road
Uxbridge
UB8 1UX
Auditor
Moore NHC Audit Limited
East Wing
Goffs Oak House
Goffs Lane
Goffs Oak
Hertfordshire
EN7 5GE
HARROW THE HUB (HOLDINGS) LIMITED
CONTENTS
Page
Director's report
1
Director's responsibilities statement
2
Independent auditor's report
3 - 5
Income statement
6
Statement of financial position
7
Statement of changes in equity
8
Statement of cash flows
9
Notes to the financial statements
10 - 14
HARROW THE HUB (HOLDINGS) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The director presents his annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company in the year under review continued to be that of a holding company.

Results and dividends

The results for the year are set out on page 6.

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A Sheikh
Auditor

The auditor, Moore NHC Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

Each director in office at the date of approval of this annual report confirms that:

- so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

- the director has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

Small companies exemption

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

On behalf of the board
A Sheikh
Director
2 January 2026
HARROW THE HUB (HOLDINGS) LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

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 International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom. 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, International Accounting Standard 1 requires that directors:

- properly select and apply accounting policies;

- present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;

- provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial position and financial performance; and

- make an assessment of the company's ability to continue as a going concern.

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.

HARROW THE HUB (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HARROW THE HUB (HOLDINGS) LIMITED
- 3 -
Opinion

We have audited the financial statements of Harrow The Hub (Holdings) Limited (the 'company') for the year ended 31 March 2025 which comprise the income statement, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards.

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with UK adopted international accounting standards; 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 Auditor's 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the Director's Report has been prepared in accordance with applicable legal requirements.

HARROW THE HUB (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HARROW THE HUB (HOLDINGS) LIMITED (CONTINUED)
- 4 -
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 identifie d material misstatements in the Director's Report.

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 director's remuneration specified by law are not made; or

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

- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of small companies' exemption in preparing the Director's Report and take advantage of the small companies exemption from the requirement to prepare a Strategic Report.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

HARROW THE HUB (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HARROW THE HUB (HOLDINGS) LIMITED (CONTINUED)
- 5 -
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, International Financial Reporting Standards as adopted by the UK, and UK taxation legislation.

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Francis Corbishley (Senior Statutory Auditor)
For and on behalf of Moore NHC Audit Limited, Statutory Auditor
Chartered Accountants
East Wing
Goffs Oak House
Goffs Lane
Goffs Oak
Hertfordshire
EN7 5GE
2 January 2026
HARROW THE HUB (HOLDINGS) LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2025
2024
Notes
£
£
Revenue
-
-
Cost of sales
-
0
-
0
Gross profit
-
-
Exceptional items
4
(3,000,000)
-
0
Operating loss
(3,000,000)
-
Income tax expense
-
-
Loss and total comprehensive income for the year
(3,000,000)
-
0

The income statement has been prepared on the basis that all operations are continuing operations.

HARROW THE HUB (HOLDINGS) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 7 -
2025
2024
Notes
£
£
Non-current assets
Investments
6
100
3,000,100
Current liabilities
Trade and other payables
8
3,000,000
3,000,000
Net current liabilities
(3,000,000)
(3,000,000)
Net (liabilities)/assets
(2,999,900)
100
Equity
Called up share capital
9
100
100
Retained earnings
(3,000,000)
-
0
Total equity
(2,999,900)
100

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

The financial statements were approved and signed by the director and authorised for issue on 2 January 2026
A Sheikh
Director
Company registration number 09353616 (England and Wales)
HARROW THE HUB (HOLDINGS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 April 2023
100
-
0
100
Year ended 31 March 2024:
Balance at 31 March 2024
100
-
0
100
Year ended 31 March 2025:
Loss and total comprehensive income
-
(3,000,000)
(3,000,000)
Balance at 31 March 2025
100
(3,000,000)
(2,999,900)
HARROW THE HUB (HOLDINGS) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
13
(3,000,000)
-
Net cash outflow from operating activities
(3,000,000)
-
Investing activities
Investments written off
3,000,000
-
0
Net cash generated from investing activities
3,000,000
-
Net increase in cash and cash equivalents
-
0
-
0
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
HARROW THE HUB (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
1
Accounting policies
Company information

Harrow The Hub (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Parkview House Ground Floor, 82 Oxford Road, Uxbridge, UB8 1UX. The company's principal activities and nature of its operations are disclosed in the director's report.

1.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

1.2
Going concern

The director has at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fair value measurement

IFRS 13 establishes a single source of guidance for all fair value measurements. IFRS 13 does not change when an entity is required to use fair value, but rather provides guidance on how to measure fair value under IFRS when fair value is required or permitted. The resulting calculations under IFRS 13 affected the principles that the c ompany uses to assess the fair value, but the assessment of fair value under IFRS 13 has not materially changed the fair values recognised or disclosed. IFRS 13 mainly impacts the disclosures of the c ompany. It requires specific disclosures about fair value measurements and disclosures of fair values, some of which replace existing disclosure requirements in other standards.

1.4
Cash and cash equivalents

Cash and cash equivalents 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.

1.5
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

HARROW THE HUB (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
2
Adoption of new and revised standards and changes in accounting policies

At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to existing standards have been published by the IASB but are not yet effective and these have not been applied early by the company. Management anticipates that the following pronouncements relevant to the companies operation will be adopted in the companies accounting policies for the first period beginning after the effective date of the pronouncement, once adopted by the UK:

Title |  |  | Subject |  | Effective date per standard
Amendments to IAS 12 deferred tax related to assets and liabilities arising from a single transaction |  |  | Recognition of deferred tax on transactions that, on initial recognition give rise to equal amounts of taxable and deductible temporary differences |  | 1 January 2023
Amendments to IAS 12 international tax reform |  |  | Amendments provide a temporary exception to the requirements regarding deferred tax assets and liabilities related to pillar two income taxes |  | 1 January 2023
Narrow scope amendments to IAS 1, practice statement 2 and IAS 8 |  |  | Improved accounting policy disclosures |  | 1 January 2023
Amendments to IFRS 16, lease liability in a sale and leaseback |  |  | Amendments clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. |  | 1 January 2024
Amendments to IAS 1, Non-current liabilities with covenants |  |  | Amendments clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability |  | 1 January 2024
Disclosures: Supplier Finance Arrangements - |  |  | Amendments to IAS 7 and IFRS 7 |  | 1 January 2024

Issued IFRS not yet effective

At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to existing standards have been published by the IASB but are not yet effective and these have not been applied early by the company. Management anticipates that the following pronouncements relevant to the companies operation will be adopted in the companies accounting policies for the first period beginning after the effective date of the pronouncement:

Title |  |  | Subject |  | Effective date per standard
Annual Improvements to IFRS Standards 2018–2020 Volume 11 |  |  | Amendments to IFRS 1, IFRS 7, IFRS9, and IFRS10 |  | 1 January 2026
Subsidiaries without Public Accountability: Disclosures |  |  | IFRS 18 and 19 specifies reduced disclosure requirements in financial statements |  | 1 January 2027
Classification and Measurement of financial instruments |  |  | Amendments to IFRS 9 and IFRS 7 for the Classification and Measurement of Financial Instruments. |  | 1 January 2026
Lack of exchangeability |  |  | Amendments to IAS 21 |  | 1 January 2025

HARROW THE HUB (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Adoption of new and revised standards and changes in accounting policies
(Continued)
- 12 -

Title |  |  | Subject |  | Effective date per standard
Contracts Referencing Nature-dependent Electricity – |  |  | Amendments to IFRS 9 and IFRS 7 |  | 1 January 2026
IFRS 18 – Presentation and Disclosure in Financial Statements |  |  |  |  | 1 January 2027
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to |  |  | IFRS 10 and IAS 28 |  | Note (a)

Note (a): In December 2015, the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting.

The Directors expect that the adoption of the standards listed above will not have a material impact on the financial information of the company in future reporting periods.

3
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

4
Exceptional items
2025
2024
£
£
Expenditure
Impairment of investments
3,000,000
-
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management
1
1
HARROW THE HUB (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
6
Investments
Current
Non-current
2025
2024
2025
2024
£
£
£
£
Investments in subsidiaries
-
0
-
0
100
3,000,100

The company has not designated any financial assets that are not classified as held for trading as financial assets at fair value through profit or loss.

Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 31 March 2024 and 31 March 2025
3,000,100
Impairment
At 1 April 2023 & 31 March 2024
-
Impairment losses
(3,000,000)
At 31 March 2025
(3,000,000)
Carrying amount
At 31 March 2025
100
At 31 March 2024
3,000,100
7
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Country of incorporation (or residence)
Proportion of ownership interest (%)
Proportion of voting power held (%)
Nature of business
Harrow The Hub Investments Ltd
England and Wales
100.00%
100.00%
Property investment and development
Aequitas Estates (Maidstone) Ltd
England and Wales
80.00%
80.00%
Property investment and development
HARROW THE HUB (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
8
Trade and other payables
Current
2025
2024
£
£
Trade payables
62,475
62,475
Amounts owed to group undertakings
2,937,525
2,937,525
3,000,000
3,000,000
9
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
10
Capital risk management

The company is not subject to any externally imposed capital requirements.

11
Related party transactions

Included within creditors is an amount of £2,937,525 (202 4: £2,937,525) owed to the ultimate parent company Sheikh Holdings Group (Investments) Limited. The loan is interest free and repayable on demand.

12
Controlling party

The i mmediate and ultimate parent company is Sheikh Holdings Group (Investments) Limited. A company registered in England and Wales with Registered office address Parkview House Ground Floor, 82 Oxford Road, Uxbridge, UB8 1UX

The following are the parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Sheikh Holdings Group (Investments) Limited
Smallest group
Sheikh Holdings Group (Investments) Limited
13
Cash absorbed by operations
2025
2024
£
£
Loss for the year before taxation
(3,000,000)
-
Cash absorbed by operations
(3,000,000)
-
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