ACCOUNTS - Final Accounts preparation

Registered number: 15691454

HAWAII TOPCO LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

HAWAII TOPCO LIMITED

REGISTERED NUMBER: 15691454

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		Restated 2024
Note		£		£

Fixed assets
Investments	4		99		99
			99		99
Current assets
Debtors		9,001,444		3,363,404
		9,001,444		3,363,404
Creditors: amounts falling due within one year	5	(7,777,009)		(2,229,172)
Net current assets			1,224,435		1,134,232
Total assets less current liabilities			1,224,534		1,134,331

Net assets			1,224,534		1,134,331

Capital and reserves
Called up share capital	102	102
Share premium account	1,114,678	1,114,678
Profit and loss account	109,754	19,551
	1,224,534	1,134,331

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HAWAII TOPCO LIMITED

REGISTERED NUMBER: 15691454

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 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 on 11 August 2026.

J Olley	X Bardy
Director	Director

The notes on pages 3 to 4 form part of these financial statements.

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HAWAII TOPCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

Hawaii Topco Limited (15691454) is a private company limited by shares and registered in England & Wales. The address of its registered office is 1st Floor 99 Bishopsgate, London, EC2M 3XD.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentational currency is GBP to the nearest £.

The following principal accounting policies have been applied:

2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.3

Finance costs

Finance costs are charged to profit or loss 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.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Basic financial liabilities

Basic financial liabilities include preference shares classified as debt, are initially recognised at transaction price unless the arrangement 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.

2.6

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received, net of transaction fees.

Employees

The Company has no employees other than the directors, who did not receive any remuneration.

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HAWAII TOPCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	99
	At 31 December 2025	99

5.	Creditors: Amounts falling due within one year
		2025	Restated 2024
		£	£

Share capital treated as debt	7,777,009	2,229,172
	7,777,009	2,229,172

The shares include convertible redeemable preference shares of £1 each. The shares are entitled to nondiscretionary dividends at a rate of 8% per annum and are redeemable at the option of the company or an exit event. As such, the shares are recognised as liabilities at amortised cost.

6.	Prior year adjustment

During the year, an amendment was made to the allocation of equity and loan funding draw down during the year and prior period. As as result, a prior year adjustment has been recognised to reclassify £790,193 from share capital treated as debt to share premium, this reduced the debt and increased equity. The associated interest due was reduced by £19,551 resulting in a increase to retained earnings at 1 January 2025.

7.	Related party transactions
	The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.

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