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Registered number: 10267295 HYDE PARK HOLDINGS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
HYDE PARK HOLDINGS LIMITED COMPANY INFORMATION
Directors | H McAlister
| C Brook-Partridge
Registered number | 10267295
Registered office | 80 Cheapside
| London
| England
| EC2V 6EE
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditors
| 3 Brook Business Centre
| Cowley Mill Road
| Uxbridge
| Middlesex
| UB8 2FX
HYDE PARK HOLDINGS LIMITED CONTENTS
| Page
Strategic report | 1 - 2
Directors' report | 3 - 4
Independent auditors' report | 5 - 9
Statement of comprehensive income | 10
Statement of financial position | 11
Statement of changes in equity | 12
Notes to the financial statements | 13 - 23
HYDE PARK HOLDINGS LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 JANUARY 2026
Introduction
The directors present their Strategic report for the year ended 31 January 2026.
Principal activity
The principal activity of the company is that of financial investment as well as a holding company. The principal activity of the group is to provide corporate brokerage services, with a focus on stock broking and corporate finance services.
Business review and future developments
Turnover increased by 141.396% to £31,709 (2025 - (£76,598)) notwithstanding the ongoing geopolitical uncertainty. The company generated a loss before tax of £40,259 compared to a loss before tax of £399,025 in the prior year. The directors intend to maintain their focus on growing and developing the core business. Principal risks and uncertainties Risk (both business and financial) is inherent in the company's business and activities. The company's ability to identify, assess, monitor and manage each type of risk is an important factor to the performance and future development of the company. The principal risks faced by the company are as follows:
Market risk
The most significant areas of market risk to which the company is exposed are price risk, credit risk and liquidity risk. The directors do not believe they have a material exposure to foreign exchange rate risk and interest rate risk.
Price risk
The company is exposed to market risk in respect of its financial instruments measured at fair value through profit or loss. The company seeks to manage this risk by increasing the diversity of its trading investments and closely monitoring individual positions relative to the company as a whole. The company holds trading investments on publicly traded markets. The trading investments are quoted on active markets and the related financial assets and liabilities are stated at fair values based on the contracted actual costs and the quoted market prices of those instruments at the Statement of financial position date. The company also holds investments in private companies. The fair values of these investments are based on the latest fundraising of the private companies.
Interest rate risk
As the company has no borrowings other than an overdraft facility, the risk is limited to the reduction of the interest received on cash surpluses held.
Credit risk
The company's credit risk is primarily attributable to its financial assets at fair value through profit or loss, trade receivables and cash equivalents. The company has implemented policies that require appropriate credit checks on customers and counterparties. Page 1
HYDE PARK HOLDINGS LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
Liquidity risk
The company seeks to manage liquidity risk to ensure that sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The company deems there is sufficient liquidity for the foreseeable future. Trading liabilities are not analysed by contractual maturity because trading assets and liabilities are typically held for short periods of time.
Key performance indicators
The directors use a number of different measures to monitor the ongoing performance of the company. These include daily reconciliations of revenue streams and the firm's liquid resources against budget together with detailed monthly analysis of trading versus budget. These daily snapshots of the business together with the monthly management accounts and the discussion and decisions that result from them are a vital part of the management of the business and the need to mitigate risk whilst maximising the growth and profitability of the business. Directors' statement of compliance with duty to promote the success of the company As the Board of Hyde Park Holdings Limited, we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the company and its stakeholders, and in doing so have regard (amongst other matters) to: ∙The directors have considered the reputation of the company with customers, employees and suppliers in their everyday decision making. ∙The directors have taken into account the financial returns of future business and the best interests of the company when making strategic decisions. The directors carefully consider the consequences of all projects, ensuring they are fully planned and costed, taking account of the potential financial returns as well as the wider impacts on the business and the environment. In addition, the company's operations continually strive for the minimum environmental impact. This report was approved by the board on 28 May 2026 and signed on its behalf.
................................................ H McAlister Director
Page 2
HYDE PARK HOLDINGS LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JANUARY 2026 The directors present their report and the financial statements for the year ended 31 January 2026.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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. Going concern In assessing the Company’s ability to continue as a going concern, the directors have considered its financial position, forecast cash flows and the nature of its liabilities. The Company is an intermediate holding company with limited trading activity. It has a net current liability position, which arises primarily from balances due to group undertakings. These balances are not expected to be recalled within the next twelve months, and the Company is supported by its owners, who have confirmed their intention to provide financial support as required. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis. Results and dividends The loss for the year, after taxation, amounted to £40,259 (2025 - £399,025). Dividends paid during the year amounted to £Nil (2025 - £Nil).
Directors
The directors who served during the year were:
H McAlister
C Brook-Partridge
Page 3
HYDE PARK HOLDINGS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
Matters covered in the Strategic report
The company has chosen in accordance with section 414C of the Companies Act 2006, to set out the following information, which would otherwise be included in the Directors' report, in the Strategic report: financial risk management and business review and future developments.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Post balance sheet events There have been no subsequent events that require disclosure or adjustments to the financial statements.
Auditors
Before the year end, Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006. This report was approved by the board on 28 May 2026 and signed on its behalf.
................................................ H McAlister Director
Page 4
HYDE PARK HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HYDE PARK HOLDINGS LIMITED
Opinion
We have audited the financial statements of Hyde Park Holdings Limited (the 'Company') for the year ended 31 January 2026, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 January 2026 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 directors with respect to going concern are described in the relevant sections of this report. Page 5
HYDE PARK HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HYDE PARK HOLDINGS LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Page 6
HYDE PARK HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HYDE PARK HOLDINGS LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Auditors' 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 Auditors' 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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: ∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; ∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the parent company, are as follows: °Companies Act 2006. °FRS102. °Tax legislation. ∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing board minutes; and ∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. Page 7
HYDE PARK HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HYDE PARK HOLDINGS LIMITED (CONTINUED) We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: ∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; ∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ∙Reviewing the financial statements and testing the disclosures against supporting documentation; ∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies; ∙Inspecting and testing journal entries to identify unusual or unexpected transactions; ∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and ∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company's usual course of business. The areas that we identified as being susceptible to misstatement through fraud were: ∙Management bias in the estimates and judgements made; ∙Management override of controls; and ∙Posting of unusual journals or transactions Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. Page 8
HYDE PARK HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HYDE PARK HOLDINGS LIMITED (CONTINUED)
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 Auditors' 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. Qasim Mehdi (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants & Statutory Auditors 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX Date: 28 May 2026 Page 9
HYDE PARK HOLDINGS LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JANUARY 2026
| 2026 | 2025
Note | £ | £
Turnover | 4 | 31,709 | (76,598)
Gross profit/(loss) |  | 31,709 | (76,598)
Administrative expenses |  | (63,166) | (6,342)
Operating loss | 7 | (31,457) | (82,940)
Amounts written off investments |  | - | (306,903)
Interest payable and similar expenses | 8 | (8,802) | (9,182)
Loss before taxation |  | (40,259) | (399,025)
Tax on loss | 9 | - | -
Loss for the financial year |  | (40,259) | (399,025)
Total comprehensive income for the year |  | (40,259) | (399,025)
The notes on pages 13 to 23 form part of these financial statements.
Page 10
HYDE PARK HOLDINGS LIMITED REGISTERED NUMBER: 10267295 STATEMENT OF FINANCIAL POSITION AS AT 31 JANUARY 2026
|  | 2026 |  | 2025
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Investments | 10 |  | 1,693,097 |  | 1,693,097
|  |  | 1,693,097 |  | 1,693,097
Current assets |  |  |  |  |
Current asset investments | 11 | 134,409 |  | 51,429 |
Cash at bank and in hand | 12 | 21,131 |  | 6,792 |
|  | 155,540 |  | 58,221 |
Creditors: amounts falling due within one year | 13 | (1,003,039) |  | (865,461) |
Net current liabilities |  |  | (847,499) |  | (807,240)
Net assets |  |  | 845,598 |  | 885,857
Capital and reserves |  |  |  |  |
Called up share capital | 15 |  | 4,899 |  | 4,899
Profit and loss account | 16 |  | 840,699 |  | 880,958
|  |  | 845,598 |  | 885,857
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
................................................ H McAlister
Director
The notes on pages 13 to 23 form part of these financial statements. Page 11
HYDE PARK HOLDINGS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JANUARY 2026
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 February 2025 | 4,899 | 880,958 | 885,857
Comprehensive income for the year |  |  |
Loss for the year | - | (40,259) | (40,259)
Total comprehensive income for the year | - | (40,259) | (40,259)
At 31 January 2026 | 4,899 | 840,699 | 845,598
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JANUARY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 February 2024 | 4,899 | 1,279,983 | 1,284,882
Comprehensive income for the year |  |  |
Loss for the year | - | (399,025) | (399,025)
Total comprehensive income for the year | - | (399,025) | (399,025)
At 31 January 2025 | 4,899 | 880,958 | 885,857
| The notes on pages 13 to 23 form part of these financial statements.
Page 12
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
1. | General information
Hyde Park Holdings Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 80 Cheapside, London, England, EC2V 6EE. The principal activity of the company is that of financial investment as well as a holding company. The principal activity of the group is to provide corporate brokerage services, with a focus on stock broking and corporate finance services. 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 Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d). This information is included in the consolidated financial statements of CHS Bidco Limited as at 31 January 2026 and these financial statements may be obtained from 80 Cheapside, London, England, EC2V 6EE.
| 2.3 | Going concern
In assessing the Company’s ability to continue as a going concern, the directors have considered its financial position, forecast cash flows and the nature of its liabilities. The Company is an intermediate holding company with limited trading activity. It has a net current liability position, which arises primarily from balances due to group undertakings. These balances are not expected to be recalled within the next twelve months, and the Company is supported by its owners, who have confirmed their intention to provide financial support as required. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
| 2.4 | Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006. Page 13
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2.Accounting policies (continued)
| 2.5 | Revenue
Income from securities trading activity comprises all realised gains and losses on trading and unrealised changes in the fair value of financial assets and liabilities held for trading, together with any related dividend income on positions held.
| 2.6 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the year.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | 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.
| 2.9 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position 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, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Page 14
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 15
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.10 | 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. Page 16
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2.Accounting policies (continued)
| 2.11 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
| 2.12 | Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.13 | Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
| 2.14 | Taxation
Tax is recognised in the Statement of comprehensive income 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 reporting date in the countries where the Company operates and generates income. Page 17
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In preparing these financial statements, the directors have had to make the following judgements in applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements: 1. Determine whether there have been any indicators of impairment in the value of the Company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future performance of the investments.
4. | Turnover
The whole of the turnover relates to the income from securities trading activity and arose in the United Kingdom.
5. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | No. | No.
| Management and administration | 2 | 2
|  | 2 | 2
6. | Directors' remuneration
During the year, the directors did not receive any emoluments (2025 - £Nil).
7. | Operating loss
| The operating loss is stated after charging the revaluation of current asset investments.
8. | Interest payable and similar expenses
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank interest payable | 8,802 | 9,182
|  | 8,802 | 9,182
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HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
9. | Taxation
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Total current tax | - | -
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2025 - higher than) the standard rate of corporation tax in the UK of 25% (2025 - 25%). The differences are explained below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Loss on ordinary activities before tax | (40,259) | (399,025)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%) | (10,065) | (99,756)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | - | 76,725
| Revaluation of current asset investment | 12,322 | -
| Unrelieved tax losses carried forward | (2,257) | 23,031
| Total tax charge for the year | - | -
| Factors that may affect future tax charges
Future tax charges are anticipated to be affected by the utilisation of losses carried forward. A deferred tax asset has not been recognised in respect of these losses due to uncertainty over the timing of the future utilisation of the losses. There is no expiry date of timing differences of unused tax losses. Page 19
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
10. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 February 2025 | 4,026,422
| At 31 January 2026 | 4,026,422
| Impairment |
| At 1 February 2025 | 2,333,325
| At 31 January 2026 | 2,333,325
| Net book value |
| At 31 January 2026 | 1,693,097
| At 31 January 2025 | 1,693,097
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Principal activity | Class of shares | Holding
| AlbR Capital Limited | 80 Cheapside, London, England, EC2V 6EE | Security and commodity contracts dealing | Ordinary | 100%
| Hyde Park Holdings Nominee 1 Ltd | 80 Cheapside, London, England, EC2V 6EE | Dormant company | Ordinary | 100%
| Hyde Park Holdings Nominee 2 Ltd | 80 Cheapside, London, England, EC2V 6EE | Dormant company | Ordinary | 100%
| Hyde Park Holdings Nominee 3 Ltd | 80 Cheapside, London, England, EC2V 6EE | Dormant company | Ordinary | 100%
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HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 Subsidiary undertakings (continued)
| The aggregate of the share capital and reserves as at 31 January 2026 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
|  | £ | £
| AlbR Capital Limited | 1,001,519 | (72,708)
| Hyde Park Holdings Nominee 1 Ltd | - | -
| Hyde Park Holdings Nominee 2 Ltd | - | -
| Hyde Park Holdings Nominee 3 Ltd | - | -
11. | Current asset investments
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Listed investments | 134,409 | 51,429
|  | 134,409 | 51,429
| The fair value of listed equity securities is based on current bid prices in an active market.
12. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 21,131 | 6,792
|  | 21,131 | 6,792
13. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 1,003,039 | 865,461
|  | 1,003,039 | 865,461
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HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
14. | Financial instruments
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Financial assets |  |
| Financial assets measured at fair value through profit or loss | 134,409 | 51,429
| Financial liabilities |  |
| Financial liabilities measured at amortised cost | 1,003,039 | 865,461
| Financial assets measured at fair value through profit or loss comprise listed investments. Financial liabilities measured at amortised cost comprise amounts owed to group undertakings.
15. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 49,000 Ordinary shares of £0.01 each | 490 | 490
|  | 440,905 Preferred Ordinary shares of £0.01 each | 4,409 | 4,409
|  |  | 4,899 | 4,899
| The Preferred Ordinary shares have preferential rights, in respect of dividends and capital distribution (including on winding up). The Ordinary shares and the Preferred Ordinary shares rank pari passu in all other respects.
16. | Reserves
Profit and loss account Profit and loss account includes all current and prior year retained profits and losses.
17. | Related party transactions
| The company has taken advantage of the exemption allowed by FRS102 not to disclose any transactions between the company and its wholly-owned subsidiaries.
18. | Post balance sheet events
There have been no subsequent events that require disclosure or adjustments to the financial statements. Page 22
HYDE PARK HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
19. | Ultimate parent undertaking and controlling party
The immediate and ultimate parent undertaking is CHS Bidco Limited, a company incorporated in England and Wales, with registered office 80 Cheapside, London, England, EC2V 6EE The smallest and largest group where this company’s financial statements are consolidated is CHS Bidco Limited. There is no ultimate controlling party.
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