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REGISTERED NUMBER: 11073656 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 28 February 2026 |

| for |

| Herzog Kendrick Ltd |

| Herzog Kendrick Ltd (Registered number: 11073656) |

Contents of the Financial Statements

for the Year Ended 28 February 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Chartered Accountants' Report | 9 |

| Herzog Kendrick Ltd |

Company Information

for the Year Ended 28 February 2026

| DIRECTORS: | S J Beahan

| Miss A C Beahan

| REGISTERED OFFICE: | Eldo House

| Kempson Way

| Suffolk Business Park

| Bury St Edmunds

| Suffolk

| IP32 7AR

| REGISTERED NUMBER: | 11073656 (England and Wales)

| ACCOUNTANTS: | Knights Lowe Chartered Accountants

| Eldo House

| Kempson Way

| Suffolk Business Park

| Bury St Edmunds

| Suffolk

| IP32 7AR

| Herzog Kendrick Ltd (Registered number: 11073656) |

Balance Sheet

28 February 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,114 |  | 1,485 |  |

Investments | 5 | 504,878 |  | 504,878 |  |

505,992 |  | 506,363 |  |

CURRENT ASSETS

Stocks | - |  | 1,247,370 |  |

Debtors | 6 | 141,354 |  | 4,109 |  |

Cash at bank | 601 |  | 6,296 |  |

141,955 |  | 1,257,775 |  |

CREDITORS

Amounts falling due within one year | 7 | 418,075 |  | 1,563,233 |  |

NET CURRENT LIABILITIES | (276,120 | ) | (305,458 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 229,872 |  | 200,905 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (247,263 | ) | (275,196 | ) |

PROVISIONS FOR LIABILITIES | 10 | - |  | (371 | ) |

NET LIABILITIES | (17,391 | ) | (74,662 | ) |

CAPITAL AND RESERVES

Called up share capital | 11 | 1 |  | 1 |  |

Retained earnings | (17,392 | ) | (74,663 | ) |

SHAREHOLDERS' FUNDS | (17,391 | ) | (74,662 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

| Herzog Kendrick Ltd (Registered number: 11073656) |

Balance Sheet - continued

28 February 2026

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 2 April 2026 and were signed on its behalf by:

S J Beahan - Director

| Herzog Kendrick Ltd (Registered number: 11073656) |

Notes to the Financial Statements

for the Year Ended 28 February 2026

1. | STATUTORY INFORMATION

| Herzog Kendrick Ltd 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.

| Turnover

| Turnover represents residential property development and rental income attributable in the period.

| Any rents received in advance are deferred to the future period to which they relate.

| Tangible fixed assets

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

| Computer equipment | - | 25% on reducing balance

| Stocks

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

| Herzog Kendrick Ltd (Registered number: 11073656) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

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 accounts receivable and payable, and loans from banks or other related parties.

| Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, 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 outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

| 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.

| 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, 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 balance sheet date.

| Deferred tax

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

| Herzog Kendrick Ltd (Registered number: 11073656) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

2. | ACCOUNTING POLICIES - continued

| Impairment

| At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

| Going concern

| Having discussed the projected results and cash flow of the company with the directors, it is anticipated that the company will generate profits and cash in the future. The company currently has the support of the directors in order that the cash demands can be met. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

| Investment property

| The value of the fixed asset investment on 28 February 2026 has been carried out by the directors on an open market basis and is considered to be equivalent to the cost. They are considered to have sufficient expertise to value this asset and provide a true and fair view. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2025 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 March 2025

| and 28 February 2026 | 3,865 |  |

| DEPRECIATION

| At 1 March 2025 | 2,380 |  |

| Charge for year | 371 |  |

| At 28 February 2026 | 2,751 |  |

| NET BOOK VALUE

| At 28 February 2026 | 1,114 |  |

| At 28 February 2025 | 1,485 |  |

| Herzog Kendrick Ltd (Registered number: 11073656) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

5. | FIXED ASSET INVESTMENTS

| Freehold

| property

£ |

| COST

| At 1 March 2025

| and 28 February 2026 | 504,878 |  |

| NET BOOK VALUE

| At 28 February 2026 | 504,878 |  |

| At 28 February 2025 | 504,878 |  |

| The value of the fixed asset investment on 28 February 2026 has been carried out by the directors on an open market basis and is considered to be equivalent to the cost.

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

2026 | 2025 |

£ | £ |

| Trade debtors | 138,000 |  | - |  |

| Other debtors | 3,354 |  | 4,109 |  |

141,354 |  | 4,109 |  |

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

2026 | 2025 |

£ | £ |

| Trade creditors | (211 | ) | 9,583 |  |

| Taxation and social security | 25,164 |  | 1,004 |  |

| Other creditors | 393,122 |  | 1,552,646 |  |

418,075 |  | 1,563,233 |  |

| Included in other creditors is a directors loan account. Interest has not been charged.

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

2026 | 2025 |

£ | £ |

| Bank loans | 247,263 |  | 275,196 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loan | 247,263 |  | 275,196 |  |

| Herzog Kendrick Ltd (Registered number: 11073656) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2026 | 2025 |

£ | £ |

| Bank loan | 247,263 |  | 275,196 |  |

| The bank loan is secured against the investment property in the form of debentures that contain fixed and floating charges over the assets of the company.

10. | PROVISIONS FOR LIABILITIES

2026 | 2025 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | - |  | 371 |  |

| Deferred |

| tax |

£ |

| Balance at 1 March 2025 | 371 |  |

| Credit to Income Statement during year | (371 | ) |

| Balance at 28 February 2026 | - |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Herzog Kendrick Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Herzog Kendrick Ltd for the year ended 28 February 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Herzog Kendrick Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Herzog Kendrick Ltd and state those matters that we have agreed to state to the Board of Directors of Herzog Kendrick Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Herzog Kendrick Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Herzog Kendrick Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Herzog Kendrick Ltd. You consider that Herzog Kendrick Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Herzog Kendrick Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

2 April 2026