ACCOUNTS - Final Accounts

Registered number: 04867906

HAWKSMERE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

HAWKSMERE LIMITED

REGISTERED NUMBER: 04867906

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	56,236		56,236
Creditors: amounts falling due within one year	6	(7,551,405)		(7,553,551)
Net current liabilities			(7,495,169)		(7,497,315)

Net liabilities			(7,495,169)		(7,497,315)

Capital and reserves
Called up share capital	7	33,592	33,592
Share premium account		460,523	460,523
Profit and loss account		(7,989,284)	(7,991,430)
		(7,495,169)	(7,497,315)

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 profit and loss account 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 10 September 2026.

S Kroon

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

HAWKSMERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Hawksmere Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 179-191 Borough High Street, London, England, SE1 1HR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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.

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 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Graham Holdings Company as at 31 December 2025 and these financial statements may be obtained from the Company's director, 179 -191 Borough High Street, London, England, SE1 1HR.

2.3

Going concern

The Company previously ceased all trading activity with no intention of carrying out any other trade. No trade has been conducted in the current year.
As such, the Company is no longer considered to be a going concern and the financial statements have been prepared on a basis other than that of a going concern.
In preparing the financial statements on a basis other than going concern, assets have been written down to their net realisable value.

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HAWKSMERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss 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 Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price.

Page 3

HAWKSMERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, the director is required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and the future periods.
The directors have made no significant judgements or key estimates.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	56,236	56,236

Amounts owed from group undertakings are unsecured, non-interest bearing and repayable on demand.

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

Bank overdrafts	-	4
Amounts owed to group undertakings	7,551,405	7,553,547
	7,551,405	7,553,551

Amounts owed to group undertakings are unsecured, non-interest bearing and repayable on demand.

Page 4

HAWKSMERE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

185,185 Ordinary shares of £0.10 each	18,518.50	18,518.50
100 'A' Ordinary shares of £0.10 each	10.00	10.00
111,015 'B' Ordinary shares of £0.10 each	11,101.50	11,101.50
163,985 Deferred ordinary shares of £0.01 each	1,639.85	1,639.85
22,223 'B' Deferred ordinary shares of £0.10 each	2,222.30	2,222.30
100 Preference shares of £1.00 each	100.00	100.00

	33,592.15	33,592.15

8.	Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.

9.	Related party transactions
	The Company has taken advantage of the exemption under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from other related party transactions with other companies wholly owned within the Group.

10.	Controlling party

The immediate parent Company is Kaplan Financial Limited. The only group in which the results of the Company are consolidated is that headed by The Graham Holdings Company, being the ultimate parent company and controlling party, which is incorporated in the US.

11.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:

Emphasis of matter - financial statements prepared on a basis other than going concern
We draw attention to note 2.3 in the financial statements, which explains that the Company has ceased its trading activities and therefore does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 10 September 2026 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.

Page 5