REGISTERED NUMBER: 11922326 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2026

FOR

HOLMES OAK TREE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C E S Hogg

Mr B J Hogg

Mr A Kollias

REGISTERED OFFICE:

Unit 1 Ashville Way

Whetstone

Leicester

LE8 6NU

REGISTERED NUMBER:

11922326 (England and Wales)

INDEPENDENT AUDITORS:

Watergates Ltd (Statutory Auditor)

109 Coleman Road

Leicester

Leicestershire

LE5 4LE

FIXED ASSETS

Investment property

5

2,768,112

-

CURRENT ASSETS

Debtors

6

881,710

1

Cash at bank

62,621

-

944,331

1

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

(2,806,499

)

-

NET CURRENT (LIABILITIES)/ASSETS

(1,862,168

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

905,944

1

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

(869,926

)

-

NET ASSETS

36,018

1

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

36,017

-

SHAREHOLDERS' FUNDS

36,018

1

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 Board of Directors and authorised for issue on 28th October 2026 and were signed on its behalf by:

Mr A Kollias - Director

1.	STATUTORY INFORMATION

Holmes Oak Tree 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

GOING CONCERN

The company uses liquid resources and working capital balances that arise directly from its operations. The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Liquidity is monitored regularly by reference to forecasts and available facilities.

At the year-end, the Company held cash at bank of £62,622 (2025: £0) and net assets of £36,518 (2025: £0). Although the Company was in a net current liability position of £1.9m (2025: £0), this predominantly comprises amounts owed to group undertakings. These balances have no contractual repayment date and, based on the Directors’ assessment, are not expected to be called for repayment in the foreseeable future. The parent has also confirmed its intention to continue to provide financial support to the Company.

The directors have reviewed future projections and prepared cash flow forecasts and sensitivity analysis, which they feel adequately reflects the current uncertain economic environment. The directors are satisfied that there will be sufficient cash resources generated from its operations to enable the company to continue as a going concern.

After considering all relevant uncertainties, the directors have a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

TURNOVER

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue consists of rental income, which is recognised based on the time of occupancy.

INVESTMENT PROPERTY

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

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.

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.

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 at 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. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:

- at fair value with changes recognised in the Income Statement if the shares are publicly traded or their fair value can otherwise be measured reliably;

- at cost less impairment for all other investments.

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 Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

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.

FOREIGN CURRENCIES

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 the Income Statement 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 Income Statement within 'finance income or costs'.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	AUDITORS' REMUNERATION

30/4/26

30/4/25

£

£

Fees payable to the Company's auditors for the audit of the Company's financial statements

3,750

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

2,768,112

At 30th April 2026

2,768,112

NET BOOK VALUE

At 30th April 2026

2,768,112

The directors have considered the value of the investment property taking account of current use and condition of the property and local market conditions prevailing at the balance sheet date. In their opinion the cost shown within the financial statements is a materially true and fair value.

6.

DEBTORS

30/4/26

30/4/25

£

£

Amounts falling due within one year:

Other debtors

9,888

1

Amounts falling due after more than one year:

Amounts owed by group undertakings

871,822

-

Aggregate amounts

881,710

1

Amounts owed by group undertakings after more than one year consist of the following:

The Lurex Company Ltd: Loan repayment in 5 years from loan issue date at 5.5% interest

Sildorex SA: Loan repayment in 5 years from loan issue date at 3.9% interest

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/26

30/4/25

£

£

Trade creditors

7,726

-

Amounts owed to group undertakings

2,768,112

-

Taxation and social security

15,246

-

Other creditors

15,415

-

2,806,499

-

Amounts owed to group undertakings within one year are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/4/26

30/4/25

£

£

Other creditors

869,926

-

9.

LOANS

An analysis of the maturity of loans is given below:

30/4/26

30/4/25

£

£

Amounts falling due between two and five years:

Other loans - 2-5 years

869,926

-

Other loans relate to two separate loans owed to Lurex Finance Ltd, a related party, with repayment in 5 years from loan issue date at 5% and 3.9% interest respectively.

The Company has entered into financing arrangements with Lurex Finance Ltd which include a negative pledge over the Company's investment property, 1-2 Harewood Row, London NW1 6SE. Under the terms of these arrangements, the Company is restricted from creating security over, or otherwise disposing of, specified assets without the consent of the relevant group company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/26

30/4/25

value:

£

£

1

Ordinary

£1

1

1

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nazir Malida FCCA (Senior Statutory Auditor)

for and on behalf of Watergates Ltd (Statutory Auditor)

12.	RELATED PARTY DISCLOSURES

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.

Included within the financial statements were the following transactions and balances with entities under

common control but not wholly owned:

Interest charges: £20,542

Loans owed to related parties: £869,926

The Company has entered into financing arrangements with Lurex Finance Ltd, a related party, which include a negative pledge over the Company's investment property, 1-2 Harewood Row, London NW1 6SE. Under the terms of these arrangements, the Company is restricted from creating security over, or otherwise disposing of, specified assets without the consent of the relevant group company.

13.	ULTIMATE CONTROLLING PARTY

Societe Sildorex is regarded by the director as being the Company's ultimate parent company. Societe Sildorex holds 100% of the share capital, is incorporated in France and the registered office is 92 rue de Richelieu, 75002, Paris, France.

The parent undertaking of the smallest and largest group for which consolidated financial statements are prepared is Societe Sildorex, a company incorporated in France. Consolidated financial statements are available from 92 rue de Richelieu, 75002, Paris, France.