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REGISTERED NUMBER: 07044380 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

HEMINGWAY FORWARD LIMITED

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 October 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| HEMINGWAY FORWARD LIMITED |

COMPANY INFORMATION

for the Year Ended 31 October 2025

| DIRECTOR: | Ms D. Doyle

| REGISTERED OFFICE: | Langley House

| 53 Theobald Street

| Borehamwood

| WD6 4RT

| REGISTERED NUMBER: | 07044380 (England and Wales)

| ACCOUNTANTS: | Accura Accountants Limited

| Langley House

| Park Road

| East Fichley

| London

| N2 8EY

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

STATEMENT OF FINANCIAL POSITION

31 October 2025

| 31.10.25 | 31.10.24 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 134,144 |  | 164,272 |  |

Investments | 5 | 1 |  | 1 |  |

Investment property | 6 | 1,560,210 |  | 1,200,000 |  |

1,694,355 |  | 1,364,273 |  |

CURRENT ASSETS

Stocks | 148,960 |  | 134,000 |  |

Debtors | 7 | 7,762 |  | 9,791 |  |

Cash at bank and in hand | 70,815 |  | 65,685 |  |

227,537 |  | 209,476 |  |

CREDITORS

Amounts falling due within one year | 8 | 464,196 |  | 104,622 |  |

NET CURRENT (LIABILITIES)/ASSETS | (236,659 | ) | 104,854 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,457,696 |  | 1,469,127 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (1,270,000 | ) | (1,270,000 | ) |

PROVISIONS FOR LIABILITIES | (33,129 | ) | (33,385 | ) |

NET ASSETS | 154,567 |  | 165,742 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Unrealised gains/ (losses) | 10 | (12,244 | ) | (12,244 | ) |

Retained earnings | 10 | 166,810 |  | 177,985 |  |

SHAREHOLDERS' FUNDS | 154,567 |  | 165,742 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

STATEMENT OF FINANCIAL POSITION - continued

31 October 2025

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 1 July 2026 and were signed by:

Ms D. Doyle - Director

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 October 2025

1. | STATUTORY INFORMATION

| Hemingway Forward Limited 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 as modified by the revaluation of certain assets.

| Related party exemption

| 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.

| Turnover and other income

| Revenue from the sale of goods and services are recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, or when the service has been provided. The amount of revenue must be able to be measured reliably, it is considered probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably

| Rents are recognised on an accruals basis.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

| Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 10% on cost and 20 years SLM.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficits arising from changes in fair value is recognised in profit or loss.

| This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Impairment of asset

| A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

3. | EMPLOYEES AND DIRECTORS

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

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 November 2024 | 35,320 |  | 4,456 |  | 459 |  |

| Additions | - |  | 2,167 |  | - |  |

| Disposals | - |  | (3,434 | ) | - |  |

| At 31 October 2025 | 35,320 |  | 3,189 |  | 459 |  |

| DEPRECIATION

| At 1 November 2024 | 19,426 |  | 2,766 |  | 439 |  |

| Charge for year | 1,766 |  | 964 |  | 5 |  |

| Eliminated on disposal | - |  | (2,963 | ) | - |  |

| At 31 October 2025 | 21,192 |  | 767 |  | 444 |  |

| NET BOOK VALUE

| At 31 October 2025 | 14,128 |  | 2,422 |  | 15 |  |

| At 31 October 2024 | 15,894 |  | 1,690 |  | 20 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 November 2024 | 286,500 |  | 6,235 |  | 332,970 |  |

| Additions | - |  | - |  | 2,167 |  |

| Disposals | - |  | - |  | (3,434 | ) |

| At 31 October 2025 | 286,500 |  | 6,235 |  | 331,703 |  |

| DEPRECIATION

| At 1 November 2024 | 141,150 |  | 4,917 |  | 168,698 |  |

| Charge for year | 28,650 |  | 439 |  | 31,824 |  |

| Eliminated on disposal | - |  | - |  | (2,963 | ) |

| At 31 October 2025 | 169,800 |  | 5,356 |  | 197,559 |  |

| NET BOOK VALUE

| At 31 October 2025 | 116,700 |  | 879 |  | 134,144 |  |

| At 31 October 2024 | 145,350 |  | 1,318 |  | 164,272 |  |

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 1 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1 |  |

| At 31 October 2024 | 1 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2024 | 1,200,000 |  |

| Additions | 360,210 |  |

| At 31 October 2025 | 1,560,210 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1,560,210 |  |

| At 31 October 2024 | 1,200,000 |  |

| Fair value at 31 October 2025 is represented by:

£ |

| Valuation in 2017 | (116,200 | ) |

| Valuation in 2022 | (96,043 | ) |

| Valuation in 2024 | 200,000 |  |

| Cost | 1,572,453 |  |

1,560,210 |  |

| In the opinion of director the value of the property in the accounts reflects its fair value.

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.10.25 |  | 31.10.24

| as restated |

£ | £ |

| Trade debtors | 2,554 |  | - |  |

| Other debtors | 5,208 |  | 9,791 |  |

7,762 |  | 9,791 |  |

| Included within other debtors are prepayments of £3,212 (2024: £2,835).

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

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

| 31.10.25 |  | 31.10.24

| as restated |

£ | £ |

| Trade creditors | 1,834 |  | - |  |

| Amounts owed to group undertakings | 11,454 |  | 11,454 |  |

| Taxation and social security | 4,169 |  | 11,706 |  |

| Other creditors | 446,739 |  | 81,462 |  |

464,196 |  | 104,622 |  |

| Included in other creditors are accrued expenses of £2,750 (2024: £2,130) and deferred income of £17,190 (2023: £3,742).

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.10.25 |  | 31.10.24

| as restated |

£ | £ |

| Other creditors | 1,270,000 |  | 1,270,000 |  |

10. | RESERVES

| Unrealised |

| Retained |  | gains/ |

| earnings |  | (losses) |  | Totals

£ | £ | £ |

| At 1 November 2024 | 197,985 |  | (12,244 | ) | 185,741 |  |

| Prior year adjustment | (20,000 | ) | (20,000 | ) |

177,985 |  | 165,741 |  |

| Deficit for the year | (1,175 | ) | (1,175 | ) |

| Dividends | (10,000 | ) | (10,000 | ) |

| At 31 October 2025 | 166,810 |  | (12,244 | ) | 154,566 |  |

| Within the reserves is an amount of £12,244 (2024: £12,244). This represents the fair value adjustment of the investment properties. FRS 102 requires that the changes in fair value be recognised in the profit and loss, but any unrealised gain is not to be distributed to the shareholders as dividends.

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

11. | RELATED PARTY DISCLOSURES

| The director has provided an interest free loan to the company of £1,696,799 (2024: £1,325,551). £426,799 (2024: £55,551) of this balance is disclosed in creditors due within one year, and £1,270,000 (2024: £1,270,000) is disclosed in creditors due after one year.