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Registered number: 10622365 KHWS HOLDINGS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 30 JUNE 2025
KHWS HOLDINGS LIMITED REGISTERED NUMBER: 10622365 BALANCE SHEET AS AT 30 JUNE 2025
|  | 30 June |  | 31 December
|  | 2025 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 139,646 |  | 139,746
|  |  | 139,646 |  | 139,746
Current assets |  |  |  |  |
Cash at bank and in hand | 5 | 75,056 |  | 4,694 |
|  | 75,056 |  | 4,694 |
Creditors: amounts falling due within one year | 6 | - |  | (2,600) |
Net current assets |  |  | 75,056 |  | 2,094
Total assets less current liabilities |  |  | 214,702 |  | 141,840
Net assets |  |  | 214,702 |  | 141,840
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 603 |  | 603
Revaluation reserve | 8 |  | 139,043 |  | 139,043
Profit and loss account | 8 |  | 75,056 |  | 2,194
|  |  | 214,702 |  | 141,840
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KHWS HOLDINGS LIMITED REGISTERED NUMBER: 10622365 BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M Skelton
Director
Date: 2 April 2026
The notes on pages 3 to 6 form part of these financial statements. Page 2
KHWS HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
1. | General information
KHWS Holdings Limited is a private company limited by shares and incorporated in England & Wales (registered number: 10622365). Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The principal place of business address is 20 Farringdon Street, London, EC4A 4AB. The financial statements are presented in Sterling, which is the functional currency of the Company. The principal activity of the Company is that of a holding company. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.3 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.4 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.5 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 3
KHWS HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.6 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
3. | Employees
| The average monthly number of employees, including directors, during the Period was 3 (2023 - 3).
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KHWS HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 139,746
| Disposals | (100)
| At 30 June 2025 | 139,646
| Net book value |
| At 30 June 2025 | 139,646
| At 31 December 2023 | 139,746
5. | Cash and cash equivalents
|  |  |  |  | 30 June | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 75,056 | 4,694
|  | 75,056 | 4,694
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 30 June | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Amounts owed to group undertakings | - | 2,600
|  | - | 2,600
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KHWS HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
7. | Share capital
|  |  |  |  | 30 June | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2023 - 100) "A" Ordinary shares of £0.01 each | 1 | 1
|  | 20,000 (2023 - 20,000) "B" Ordinary shares of £0.01 each | 200 | 200
|  | 100 (2023 - 100) "C" Ordinary shares of £0.01 each | 1 | 1
|  | 20,000 (2023 - 20,000) "D" Ordinary shares of £0.01 each | 200 | 200
|  | 100 (2023 - 100) "E" Ordinary shares of 0.01 each | 1 | 1
|  | 20,000 (2023 - 20,000) "F" Ordinary shares of £0.01 each | 200 | 200
|  |  | 603 | 603
8. | Reserves
Other reserves Other reserves relate to the fair value of the EMI share options to be issued. Profit and loss account Profit and loss account reserves relate to the cumulative profits made by the Company, available for distribution amongst the shareholders.
9. | Share-based payments
| In the year ended 31 December 2018, the Company set up an EMI Share Option Scheme for the management employees of its subsidiary. The maximum term of current arrangements under the EMI scheme ends on 20 March 2028. Upon vesting, each option allows the holder to purchase one Ordinary "G" share at the pre-agreed option price. As at 30 June 2025, 10,640 share options (2023: 10,640) were granted at an exercise price of £39.15 (2023: £39.15), none of which had been exercised at the year-end. The fair value of the options granted was determined using the Black-Scholes option pricing model. The calculation takes into account no future dividends, a volatility rate of 25% based on an expected share price and a vesting period of 10 years. The risk-free interest rate was determined at 0.75%. This has given rise to a charge in the financial statements of £Nil (2023: £nil). As the EMI Scheme is in place for employees of the Company's subsidiary, KHWS Limited, the share option expense is immediately capitalised as part of the investment in the subsidiary.
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