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REGISTERED NUMBER: 09075255 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

HOWE UK Ltd.

HOWE UK Ltd. (Registered number: 09075255)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

HOWE UK Ltd.

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | S O Bateson

| REGISTERED OFFICE: | 823 Salisbury House

| 29 Finsbury Circus

| London

| REGISTERED NUMBER: | 09075255 (England and Wales)

| AUDITORS: | Krogh & Partners Limited, (Statutory Auditor)

| 823 Salisbury House

| 29 Finsbury Circus

| London

| EC2M 5QQ

HOWE UK Ltd. (Registered number: 09075255)

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 16,785 |  | 31,344 |  |

CURRENT ASSETS

Stocks | 3,076 |  | 39,413 |  |

Debtors | 5 | 471,028 |  | 121,738 |  |

Cash at bank | 741,321 |  | 924,192 |  |

1,215,425 |  | 1,085,343 |  |

CREDITORS

Amounts falling due within one year | 6 | 369,464 |  | 267,133 |  |

NET CURRENT ASSETS | 845,961 |  | 818,210 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 862,746 |  | 849,554 |  |

PROVISIONS FOR LIABILITIES | 8 | - |  | 1,000 |  |

NET ASSETS | 862,746 |  | 848,554 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 1,000 |  | 1,000 |  |

Retained earnings | 861,746 |  | 847,554 |  |

SHAREHOLDERS' FUNDS | 862,746 |  | 848,554 |  |

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 director and authorised for issue on 10 February 2026 and were signed by:

S O Bateson - Director

HOWE UK Ltd. (Registered number: 09075255)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| HOWE 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.

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.

| 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 from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the turnover can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the company.

| Pensions

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Tangible fixed assets

| Tangible fixed assets are stated at cost less accumulated depreciation and less any accumulated impairment losses.

| Depreciation is provided at the following annual rates over the expected useful lives of the assets:

| Fixtures, Fittings and Computer Equipment |  |  | 2-8 years |  |

| Impairment of fixed assets

| The carrying amounts of fixed assets are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation

| If so, the asset is written down to its lower recoverable amount.

| 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.

| Taxation

| 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.

HOWE UK Ltd. (Registered number: 09075255)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Debtors

| Debtors are valued individually and there are made provision according to this valuation.

| Cash at bank an in hand

| Cash at bank and in hand includes bank deposits.

| Creditors

| Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortised cost.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | and |

| property |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 69,019 |  | 90,250 |  | 159,269 |  |

| Additions | - |  | 2,382 |  | 2,382 |  |

| At 31 December 2025 | 69,019 |  | 92,632 |  | 161,651 |  |

| DEPRECIATION

| At 1 January 2025 | 41,521 |  | 86,404 |  | 127,925 |  |

| Charge for year | 13,749 |  | 3,192 |  | 16,941 |  |

| At 31 December 2025 | 55,270 |  | 89,596 |  | 144,866 |  |

| NET BOOK VALUE

| At 31 December 2025 | 13,749 |  | 3,036 |  | 16,785 |  |

| At 31 December 2024 | 27,498 |  | 3,846 |  | 31,344 |  |

5. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 357,782 |  | 62,130 |  |

| Amounts owed by group undertakings | 13,757 |  | - |  |

| Other debtors | 1,970 |  | 3,309 |  |

| Deferred tax asset | 38,336 |  | - |  |

| Prepayments | 33,836 |  | 30,952 |  |

445,681 |  | 96,391 |  |

HOWE UK Ltd. (Registered number: 09075255)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | DEBTORS - continued

2025 | 2024 |

£ | £ |

| Amounts falling due after more than one year:

| Deposits | 25,347 |  | 25,347 |  |

| Aggregate amounts | 471,028 |  | 121,738 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 28,132 |  | 50,023 |  |

| Amounts owed to group undertakings | 112,126 |  | 75,516 |  |

| Social security and other taxes | 15,518 |  | - |  |

| VAT | 115,429 |  | 77,587 |  |

| Accruals and deferred income | 98,259 |  | 64,007 |  |

369,464 |  | 267,133 |  |

7. | LEASING AGREEMENTS

| at 31 December 2025, the company had total commitments under non-cancellable operating leases of £44,100 (2024 - £100,800).

8. | PROVISIONS FOR LIABILITIES

2024 |

£ |

| Deferred tax

| Accelerated capital allowances | 1,000 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 1,000 |  |

| Change in the year | (39,336 | ) |

| Balance at 31 December 2025 | (38,336 | ) |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1,000 | Ordinary | 1 | 1,000 |  | 1,000 |  |

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| John Lindegaard (Senior Statutory Auditor)

| for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

HOWE UK Ltd. (Registered number: 09075255)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

11. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate parent undertaking is Whippoorwill Associates, Inc., incorporated and registered in the United States.

| HOWE A/S is the smallest group to consolidate these financial statements and copies can be obtained from:

| HOWE A/S

| Helgavej 26

| 5230 Odense M

| Denmark