Limited Liability Partnership registration number OC329230 (England and Wales)
ISLINGTON HOLDINGS LLP
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
ISLINGTON HOLDINGS LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
D A Pearlman
Shardell Ltd
LLP registration number
OC329230
Registered office
Quadrant House - Floor 6
4 Thomas More Square
London
E1W 1YW
Auditor
UHY Hacker Young
Quadrant House
4 Thomas More Square
London
E1W 1YW
Business address
1st Floor
9 White Lion Street
London
N1 9PD
ISLINGTON HOLDINGS LLP
CONTENTS
Page
Members' report
1 - 2
Independent auditor's report
3 - 6
Profit and loss account
7
Balance sheet
8
Reconciliation of members' interests
9
Notes to the financial statements
10 - 16
ISLINGTON HOLDINGS LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The members present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the limited liability partnership is that of property investment.

Members' drawings, contributions and repayments

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the l imited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

D A Pearlman
Shardell Ltd
Auditor

The auditor, UHY Hacker Young, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of members' responsibilities

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members 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 limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ISLINGTON HOLDINGS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
Statement of disclosure to auditor

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

- so far as the members are aware, there is no relevant audit information of which the limited liability partnership's auditor is unaware, and

- the members have taken all the steps that they o ught to have taken as members in order to make themselves aware of any relevant audit information and to establish that the limited liability partnership's auditor is aware of that information.

Small LLPs exemption

This report has been prepared in accordance with the special provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

Approved by the members on 8 June 2026 and signed on behalf by:
08 June 2026
Shardell Ltd
Designated Member
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ISLINGTON HOLDINGS LLP
- 3 -
Opinion

We have audited the financial statements of Islington Holdings LLP (the 'limited liability partnership') for the year ended 30 September 2025 which comprise the Profit And Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, 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 FRS 102 The Financial Reporting Standard applicabl e 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 limited liability partnership's affairs as at 30 September 2025 and of its profit 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 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 limited liability partnership 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 members' 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 limited liability partnership’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 members with respect to going concern are described in the relevant sections of this report.

INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ISLINGTON HOLDINGS LLP
- 4 -

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 members 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 as applied to limited liability partnerships 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

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

- the members were not entitled to prepare the financial statements in accordance with the small limited liability partnerships regime.

Responsibilities of members

As explained more fully in the Statement of Members' Responsibilities, the members 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 members 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 members are responsible for assessing the limited liability partnership’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 members either intend to liquidate the limited liability partnership or to cease operations, or have 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ISLINGTON HOLDINGS LLP
- 5 -

We gained an understanding using our general commercial and sector experience and through discussion with the Members and other senior management of the legal and regulatory framework applicable to the limited liability partnership and the industry in which it operates, and considered the risk of acts by the limited liability partnership that were contrary to applicable laws and regulations, including fraud. We enquired of management and the Members as to their identification of any non-compliance with laws or regulations, or any actual or potential claims. We performed our own checks of compliance with relevant areas identified which included financial reporting legislation (including related companies legislation), distributable profits legislation, taxation legislation, health & safety and anti-money laundering. We communicated identified laws and regulations and potential fraud risks throughout our team and remained alert to any indications of non-compliance or fraud throughout the audit. We agreed the financial statement disclosures to underlying supporting documentation to assess compliance with those laws and regulations having an impact on the financial statements. We reviewed Board meeting minutes and enquired of the Members and management as to the risks of non-compliance and any instances thereof. We challenged assumptions and judgements made by management in their significant accounting estimates, in particular in relation to the property valuations by reviewing the rental yields per property against market yields as per industry reports.

In relation to the risk of management override of internal controls, we undertook procedures to review journal entries processed up to the year end and evaluated whether there was a risk of material misstatement due to fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ISLINGTON HOLDINGS LLP
- 6 -

Use of our report

This report is made solely to the limited liability partnership's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the limited liability partnership'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 limited liability partnership and the limited liability partnership's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jessica Moorghen (Senior Statutory Auditor)
For and on behalf of UHY Hacker Young
8 June 2026
Chartered Accountants
Statutory Auditor
ISLINGTON HOLDINGS LLP
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
1,461,633
1,410,854
Property expenses
(185,637)
(218,658)
Gross profit
1,275,996
1,192,196
Administrative expenses
(14,614)
(16,327)
Operating profit
1,261,382
1,175,869
Interest receivable and similar income
4
5,083
2,592
Interest payable and similar expenses
-
(361)
Fair value gains and losses on investment properties
5
24,844
482,998
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
1,291,309
1,661,098
ISLINGTON HOLDINGS LLP
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
20,812,000
20,775,000
Current assets
Debtors
6
12,124,089
10,931,175
Cash at bank and in hand
16,588
4,530
12,140,677
10,935,705
Creditors: amounts falling due within one year
7
(11,096,461)
(11,145,798)
Net current assets/(liabilities)
1,044,216
(210,093)
Total assets less current liabilities
21,856,216
20,564,907
Represented by:
Members' other interests
Members' capital classified as equity
13,770,200
13,770,200
Other equity reserve
5,641,451
5,616,607
Other reserves classified as equity
2,444,565
1,178,100
21,856,216
20,564,907

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

The financial statements were approved by the members and authorised for issue on 8 June 2026 and are signed on their behalf by:
08 June 2026
Shardell Ltd
Designated member
Limited Liability Partnership registration number OC329230 (England and Wales)
ISLINGTON HOLDINGS LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
Current financial year
EQUITY
TOTAL
Members' other interests
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other equity reserve
Other reserves
Total
2025
£
£
£
£
Members' interests at 1 October 2024
13,770,200
5,616,607
1,178,100
20,564,907
Profit for the financial year available for discretionary division among members
-
-
1,291,309
1,291,309
Members' interests after profit for the year
13,770,200
5,616,607
2,469,409
21,856,216
Other movements
-
24,844
(24,844)
-
Members' interests at 30 September 2025
13,770,200
5,641,451
2,444,565
21,856,216
Prior financial year
EQUITY
TOTAL
Members' other interests
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other equity reserve
Other reserves
Total
2024
£
£
£
£
Members' interests at 1 October 2023
13,770,200
5,133,609
1,113,639
20,017,448
Profit for the financial year available for discretionary division among members
-
-
1,661,098
1,661,098
Members' interests after profit for the year
13,770,200
5,133,609
2,774,737
21,678,546
Other divisions of profits
-
-
(1,113,639)
(1,113,639)
Other movements
-
482,998
(482,998)
-
Members' interests at 30 September 2024
13,770,200
5,616,607
1,178,100
20,564,907
ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
1
Accounting policies
Limited liability partnership information

Islington Holdings LLP is a limited liability partnership incorporated in England and Wales. The registered office is Quadrant House - Floor 6, 4 Thomas More Square, London, E1W 1YW.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover represents rents, insurance receivable and service charges receivable, net of VAT.

Revenue is recognised at the point where the benefit of the service provided is transferred to the customer.

1.3
Members' participating interests

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 11 -
1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 12 -
Classification of 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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.7
Taxation
Taxation on the limited liability partnership's profits and losses is solely the liability of the individual members. Consequently neither taxation nor related deferred taxation arising in respect of Islington Holdings LLP is accounted for in these financial statements.
ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investment properties

The valuations the limited liability partnership places on its property portfolio require estimates to be made, including, but not limited to, market yields, expected rental values (ERVs), void periods and, currently, the likely short-term impact of rent concessions. These estimates are based on assumptions made by the valuers. The approach to the valuations and the amounts affected are set out in the accounting policies and note 5 on Investment Properties. The limited liability partnership has valued the investment properties at fair value.

3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Total
0
0
4
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
5,083
2,592
ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
5
Investment Properties
Land and buildings freehold
Land and buildings Long Leasehold
Total
£
£
£
Valuation
At 1 October 2024
7,345,000
13,430,000
20,775,000
Additions
12,156
-
12,156
Revaluation
52,844
(28,000)
24,844
At 30 September 2025
7,410,000
13,402,000
20,812,000
Carrying amount
At 30 September 2025
7,410,000
13,402,000
20,812,000
At 30 September 2024
7,345,000
13,430,000
20,775,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out as at 30 September 2025 by the Directors of one of the partnership's designated members (Shardell Limited) who are considered to have sufficient industry experience. The Directors are also employees of Shardell Limited's parent Structadene Limited and are hence connected to the partnership. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

The investment properties are secured against borrowings and settlement agreements held by the partnership and Group undertakings.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
172,885
210,857
Amounts owed by group undertakings
11,892,431
10,663,489
Amounts owed by related parties
31,724
28,336
Other debtors
1
1
Prepayments and accrued income
27,048
28,492
12,124,089
10,931,175
ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 15 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
40,541
50,115
Amounts due to group undertakings
23,497
33,497
Amounts due to undertakings in which the company has a participating interest
-
5
Other creditors
262,262
275,608
Members' current accounts
10,480,743
10,480,743
Accruals and deferred income
289,418
305,830
11,096,461
11,145,798
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank after unsecured creditors.

9
Members' other interests

Members capital classified as equity

Represents the nominal value of members capital.

Other equity reserve

Represents fair value movements in investment property and investments recognised in the current and previous reporting period.

Other reserves classified as equity

Includes all current and prior period retained profits and losses.

10
Related party transactions

The limited liability partnership h as taken advantage of the exemption available in FRS 102 "Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

"Amounts owed by related parties" in other debtors includes £31,724 (2024: £2 8,336) due from Pearl & Coutts Limited. D A Pearlman is one of the designated members and is also a director of the aforementioned company. "Members' current accounts" includes £57,493 (2024: £5 7,493) due to D A Pearlman. The s e amount s are non-interest bearing and repayable on demand.

ISLINGTON HOLDINGS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
11
Parent company

The partnership's immediate parent company is Shardell Limited. The ultimate controlling party is Structadene Limited, a company incorporated in England and Wales and with a registered office of Floor 6, Quadrant House, 4 Thomas More Square, London, E1W 1YW. Structadene Limited prepares group accounts where the results of Islington Holdings LLP are reflected. The group accounts are publicly available from the Registrar of Companies. The ultimate controlling party is D A Pearlman, a member of this partnership and a director and controlling shareholder of Structadene Limited.

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