IRIS Accounts Production v26.1.0.640 15511185 Board of Directors 1.1.25 31.12.25 31.12.25 23.3.26 false true false false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 15511185 2024-12-31 15511185 2025-12-31 15511185 2025-01-01 2025-12-31 15511185 2024-02-20 15511185 2024-02-21 2024-12-31 15511185 2024-12-31 15511185 ns15:EnglandWales 2025-01-01 2025-12-31 15511185 ns14:PoundSterling 2025-01-01 2025-12-31 15511185 ns10:Director1 2025-01-01 2025-12-31 15511185 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 15511185 ns10:SmallEntities 2025-01-01 2025-12-31 15511185 ns10:Audited 2025-01-01 2025-12-31 15511185 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 15511185 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 15511185 ns10:FullAccounts 2025-01-01 2025-12-31 15511185 1 2025-01-01 2025-12-31 15511185 ns10:Director3 2025-01-01 2025-12-31 15511185 ns10:RegisteredOffice 2025-01-01 2025-12-31 15511185 ns5:CurrentFinancialInstruments 2025-12-31 15511185 ns5:CurrentFinancialInstruments 2024-12-31 15511185 ns5:ShareCapital 2025-12-31 15511185 ns5:ShareCapital 2024-12-31 15511185 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 15511185 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 15511185 ns5:ComputerSoftware 2024-12-31 15511185 ns5:ComputerSoftware 2025-01-01 2025-12-31 15511185 ns5:ComputerSoftware 2025-12-31 15511185 ns5:ComputerSoftware 2024-12-31 15511185 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 15511185 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-12-31 15511185 ns5:FurnitureFittings 2024-12-31 15511185 ns5:ComputerEquipment 2024-12-31 15511185 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-01-01 2025-12-31 15511185 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-01-01 2025-12-31 15511185 ns5:FurnitureFittings 2025-01-01 2025-12-31 15511185 ns5:ComputerEquipment 2025-01-01 2025-12-31 15511185 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-12-31 15511185 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-12-31 15511185 ns5:FurnitureFittings 2025-12-31 15511185 ns5:ComputerEquipment 2025-12-31 15511185 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 15511185 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-12-31 15511185 ns5:FurnitureFittings 2024-12-31 15511185 ns5:ComputerEquipment 2024-12-31 15511185 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 15511185 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 15511185 ns5:DeferredTaxation 2024-12-31 15511185 ns5:DeferredTaxation 2025-01-01 2025-12-31 15511185 ns5:DeferredTaxation 2025-12-31

REGISTERED NUMBER: 15511185 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Henge UK Ltd

Henge UK Ltd (Registered number: 15511185)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Henge UK Ltd

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | G Ravaglia

| S Cazzaniga

| REGISTERED OFFICE: | 5th Floor

| 10 Brook Street

| Mayfair

| London

| W1S 1BG

| REGISTERED NUMBER: | 15511185 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Lorraine Curtis

| AUDITORS: | Nordens Audit Limited

| The Retreat

| 406 Roding Lane South

| Woodford Green

| Essex

| IG8 8EY

Henge UK Ltd (Registered number: 15511185)

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | 286,856 |  |

Tangible assets | 5 | 517,240 |  | 294,596 |  |

517,240 |  | 581,452 |  |

CURRENT ASSETS

Stocks | 78,443 |  | - |  |

Debtors | 6 | 860,440 |  | 261,189 |  |

Cash at bank | 493,114 |  | 35,494 |  |

1,431,997 |  | 296,683 |  |

CREDITORS

Amounts falling due within one year | 7 | 2,904,648 |  | 1,402,240 |  |

NET CURRENT LIABILITIES | (1,472,651 | ) | (1,105,557 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (955,411 | ) | (524,105 | ) |

PROVISIONS FOR LIABILITIES | 8 | 35,834 |  | 39,306 |  |

NET LIABILITIES | (991,245 | ) | (563,411 | ) |

CAPITAL AND RESERVES

Called up share capital | 10,000 |  | 10,000 |  |

Retained earnings | (1,001,245 | ) | (573,411 | ) |

(991,245 | ) | (563,411 | ) |

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 23 March 2026 and were signed on its behalf by:

S Cazzaniga - Director

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Henge UK 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.

| Sale of goods

| Revenue from the sale of goods is recognised when all the following conditions are satisfied:

| - the entity has transferred to the buyer the significant risks and rewards of ownership of the goods;

| - the amount of revenue can be measured reliably;

| - it is probable that the economic benefits associated with the transaction will flow to the entity; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably

| Stocks

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

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial assets

| The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, prepayments, accrued income and cash and bank balances. Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

| Trade, other receivable, prepayments, accrued income and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss. Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

| Financial liabilities

| Financial liabilities The company's financial liabilities comprise of basic financial liabilities, including trade and other payables, corporation tax, accruals and deferred income. These are initially recognised at transaction price.Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| 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 current liabilities.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

| Directors remuneration

| The directors received no remuneration during the year

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| 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.

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Tangible fixed assets

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

| Depreciation

| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Long leasehold property - On straight line basis over the lease term

| Equipment - 20% straight line

| Furniture and Fittings - 20% straight line

| Impairment of fixed assets

| A review for indicators of impairment is carried our at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset

| is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

| The lease premium relating to the Company’s leasehold property has been transferred from intangible assets to tangible fixed assets during the year. This reclassification has been made to reflect the requirements of FRS 102, which require leasehold interests to be presented as tangible fixed assets. The transfer does not affect the net book value of fixed assets or the reported results for the year.

| Lease premium is being amortized evenly over its estimated useful life of 7.76 years

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costless any accumulated amortization and any accumulated impairment losses.

| During the year, the lease premium previously recognised within intangible assets has been reclassified to tangible fixed assets. This follows a review of the asset’s nature and the requirements of FRS 102, under which leasehold property interests are treated as tangible fixed assets rather than intangible assets. The reclassification has no impact on the net assets or profit for the year.

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The financial statements have been prepared on a going concern basis. The company incurred a loss of £427,834 for the year ended 31 December 2025 and, at the balance sheet date, had net liabilities of £991,245 and net current liabilities of £1,508,485. The company also has significant amounts owed to group undertakings and other creditors amounting to £2.84m falling due within one year.

| The directors have assessed the company's financial position, cash flow forecasts and future funding requirements for a period of at least 12 months from the date of approval of these financial statements. The assessment includes consideration of projected trading performance, the timing of cash inflows and outflows, and the availability of financial support from group companies and shareholders.

| The company is dependent on the ongoing financial support of its parent company and connected parties. The parent company has confirmed, in writing, its intention to continue to provide financial support to the company and not to seek repayment of amounts due for at least 12 months from the date of approval of the financial statements, and for as long as is necessary for the company to meet its liabilities as they fall due.

| Based on these considerations, the directors believe that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements are prepared on a going concern basis.

| Although material uncertainties exist due to the company's net liability position and reliance on continued financial support, the directors consider that the support available and the underlying trading forecasts provide a reasonable expectation that the company will continue to meet its obligations as they fall due.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

4. | INTANGIBLE FIXED ASSETS

| Lease

| premium

£ |

| COST

| At 1 January 2025 | 321,708 |  |

| Reclassification/transfer | (321,708 | ) |

| At 31 December 2025 | - |  |

| AMORTISATION

| At 1 January 2025 | 34,852 |  |

| Reclassification/transfer | (34,852 | ) |

| At 31 December 2025 | - |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | 286,856 |  |

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Lease |  | Long |  | and |  | Computer |

| premium |  | leasehold |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | - |  | 318,729 |  | - |  | 3,832 |  | 322,561 |  |

| Additions | - |  | 3,050 |  | 20,575 |  | - |  | 23,625 |  |

| Reclassification/transfer | 321,708 |  | - |  | - |  | - |  | 321,708 |  |

| At 31 December 2025 | 321,708 |  | 321,779 |  | 20,575 |  | 3,832 |  | 667,894 |  |

| DEPRECIATION

| At 1 January 2025 | - |  | 27,749 |  | - |  | 216 |  | 27,965 |  |

| Charge for year | 41,822 |  | 41,771 |  | 3,478 |  | 766 |  | 87,837 |  |

| Reclassification/transfer | 34,852 |  | - |  | - |  | - |  | 34,852 |  |

| At 31 December 2025 | 76,674 |  | 69,520 |  | 3,478 |  | 982 |  | 150,654 |  |

| NET BOOK VALUE

| At 31 December 2025 | 245,034 |  | 252,259 |  | 17,097 |  | 2,850 |  | 517,240 |  |

| At 31 December 2024 | - |  | 290,980 |  | - |  | 3,616 |  | 294,596 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 268,562 |  | - |  |

| Other debtors | 361,189 |  | - |  |

| VAT | 112,233 |  | 167,113 |  |

| Prepayments | 118,456 |  | 94,076 |  |

860,440 |  | 261,189 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 37,365 |  | 2,008 |  |

| Amounts owed to group undertakings | 973,140 |  | 1,032,494 |  |

| Social security and other taxes | 4,513 |  | 10,529 |  |

| Other creditors | 1,862,511 |  | 119,920 |  |

| Accruals and deferred income | 27,119 |  | 237,289 |  |

2,904,648 |  | 1,402,240 |  |

8. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 35,834 |  | 39,306 |  |

Henge UK Ltd (Registered number: 15511185)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 39,306 |  |

| Credit to Income Statement during year | (3,472 | ) |

| Balance at 31 December 2025 | 35,834 |  |

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

| The Report of the Auditors was unqualified.

| Lorraine Curtis (Senior Statutory Auditor)

| for and on behalf of Nordens Audit Limited

10. | 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.