Silverfin false false 31/12/2025 11/07/2024 31/12/2025 Dominic Bakker 11/07/2024 Stefan Textor 11/07/2024 Thomas Van Der Kallen 11/07/2024 Rutger Versluis 11/07/2024 09 April 2026 The principal activity of the company during the financial period was retail sales of premium watches and jewellery. The company commenced trading on 3 February 2025. 15832557 2025-12-31 15832557 bus:Director1 2025-12-31 15832557 bus:Director2 2025-12-31 15832557 bus:Director3 2025-12-31 15832557 bus:Director4 2025-12-31 15832557 core:CurrentFinancialInstruments 2025-12-31 15832557 core:ShareCapital 2025-12-31 15832557 core:RetainedEarningsAccumulatedLosses 2025-12-31 15832557 core:LandBuildings 2024-07-10 15832557 core:OtherPropertyPlantEquipment 2024-07-10 15832557 2024-07-10 15832557 core:LandBuildings 2025-12-31 15832557 core:OtherPropertyPlantEquipment 2025-12-31 15832557 bus:OrdinaryShareClass1 2025-12-31 15832557 2024-07-11 2025-12-31 15832557 bus:FilletedAccounts 2024-07-11 2025-12-31 15832557 bus:SmallEntities 2024-07-11 2025-12-31 15832557 bus:AuditExemptWithAccountantsReport 2024-07-11 2025-12-31 15832557 bus:PrivateLimitedCompanyLtd 2024-07-11 2025-12-31 15832557 bus:Director1 2024-07-11 2025-12-31 15832557 bus:Director2 2024-07-11 2025-12-31 15832557 bus:Director3 2024-07-11 2025-12-31 15832557 bus:Director4 2024-07-11 2025-12-31 15832557 core:LandBuildings core:BottomRangeValue 2024-07-11 2025-12-31 15832557 core:LandBuildings core:TopRangeValue 2024-07-11 2025-12-31 15832557 core:OtherPropertyPlantEquipment core:BottomRangeValue 2024-07-11 2025-12-31 15832557 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-07-11 2025-12-31 15832557 core:LandBuildings 2024-07-11 2025-12-31 15832557 core:OtherPropertyPlantEquipment 2024-07-11 2025-12-31 15832557 bus:OrdinaryShareClass1 2024-07-11 2025-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15832557 (England and Wales)

# PIG & HEN LTD

### Unaudited Financial Statements
For the financial period from 11 July 2024 to 31 December 2025
Pages for filing with the registrar

PIG & HEN LTD

## Unaudited Financial Statements

For the financial period from 11 July 2024 to 31 December 2025

Contents

PIG & HEN LTD

## BALANCE SHEET

As at 31 December 2025
PIG & HEN LTD

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 31.12.2025
|  | £
Fixed assets |  |
Tangible assets | 3 | 50,453
|  | 50,453
Current assets |  |
Stocks |  | 46,845
Debtors | 4 | 91,724
Cash at bank and in hand |  | 62,490
|  | 201,059
Creditors: amounts falling due within one year | 5 | ( 306,335)
Net current liabilities |  | (105,276)
Total assets less current liabilities |  | (54,823)
Net liabilities |  | ( 54,823)
Capital and reserves |  |
Called-up share capital | 6 | 100
Profit and loss account |  | ( 54,923 )
Total shareholder's deficit |  | ( 54,823)

For the financial period ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Pig & Hen Ltd (registered number: 15832557) were approved and authorised for issue by the Board of Directors on 09 April 2026. They were signed on its behalf by:

Thomas Van Der Kallen Director |

PIG & HEN LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 July 2024 to 31 December 2025
PIG & HEN LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 July 2024 to 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

Pig & Hen Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is C/O Fox Williams LLP, 10 Finsbury Square, London, EC2A 1AF, United Kingdom. The principal place of business is 64 Neal Street, London, WC2H 9PA.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has Net liabilities of £54,923. The company is supported through loans from the Parent Company, Pig & Hen Holdings B.V. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 3 - 5 years straight line
Plant and machinery etc. | 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

##### Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| Period from 11.07.2024 to 31.12.2025
| Number
Monthly average number of persons employed by the company during the period, including directors | 9

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 11 July 2024 | 0 |  | 0 |  | 0
Additions | 47,719 |  | 18,083 |  | 65,802
At 31 December 2025 | 47,719 |  | 18,083 |  | 65,802
Accumulated depreciation |  |  |  |  |
At 11 July 2024 | 0 |  | 0 |  | 0
Charge for the financial period | 12,207 |  | 3,142 |  | 15,349
At 31 December 2025 | 12,207 |  | 3,142 |  | 15,349
Net book value |  |  |  |  |
At 31 December 2025 | 35,512 |  | 14,941 |  | 50,453

#### 4. Debtors

| 31.12.2025
| £
Other debtors | 91,724

#### 5. Creditors: amounts falling due within one year

| 31.12.2025
| £
Trade creditors | 24,054
Amounts owed to group undertakings | 255,482
Other taxation and social security | 16,213
Other creditors | 10,586
| 306,335

#### 6. Called-up share capital

| 31.12.2025
| £
Allotted, called-up and fully-paid |
100 Ordinary shares of £ 1.00 each | 100

On 11 July 2025, the company issued 100 Ordinary shares of £1.00 each at par.

#### 7. Financial commitments

Commitments

| 31.12.2025
| £
Total future minimum lease payments under non-cancellable operating leases | 17,905

#### 8. Ultimate controlling party

Parent Company:

Pig & Hen Holding B.V.
Asterweg 75 1031HM Amsterdam Netherlands