Solution 1:

Go to your 123-reg control panel, in the Domain Names section select thehubworld.co.uk and click Manage. On the manage domain form, under Advanced Domain Settings click Manage DNS ... then Scroll down till you get to the A, CNAME and TXT records form. You can use this to Add New Entry

projects A 46.226.248.31

Click Update DNS. You should now have a new A record pointing to your IP address that will resolve to projects.thehubworld.co.uk. If Your apache is configured correctly then it should now serve pages from your sub domain.

Solution 2:

eps@gank:~$ host thehubworld.co.uk
thehubworld.co.uk has address 46.226.248.31
eps@gank:~$ host projects.thehubworld.co.uk
Host projects.thehubworld.co.uk not found: 3(NXDOMAIN)

You need to add "projects" to your DNS server/provider, either as a A-record directly against the IP or use CNAME against another hostname that points against the IP.