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REGISTERED NUMBER: 11581647 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HERNO UK LIMITED

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

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 |

HERNO UK LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTOR: | C Marenzi

| REGISTERED OFFICE: | 38 Craven Street

| London

| WC2N 5NG

| REGISTERED NUMBER: | 11581647 (England and Wales)

| AUDITORS: | Belluzzo Audit Limited

| Chartered Accountants and Statutory Auditors

| 38 Craven Street

| London

| WC2N 5NG

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

BALANCE SHEET

31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 18,600 |  | 27,900 |  |

Tangible assets | 5 | 698,230 |  | 538,987 |  |

716,830 |  | 566,887 |  |

CURRENT ASSETS

Stocks | 2,194,355 |  | 802,424 |  |

Debtors | 6 | 3,810,913 |  | 1,560,392 |  |

Cash at bank | 708,141 |  | 741,206 |  |

6,713,409 |  | 3,104,022 |  |

CREDITORS

Amounts falling due within one year | 7 | (4,311,933 | ) | (651,398 | ) |

NET CURRENT ASSETS | 2,401,476 |  | 2,452,624 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,118,306 |  | 3,019,511 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (2,886,969 | ) | (2,749,366 | ) |

NET ASSETS | 231,337 |  | 270,145 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | 230,337 |  | 269,145 |  |

231,337 |  | 270,145 |  |

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 director and authorised for issue on 3 July 2026 and were signed by:

C Marenzi - Director

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Herno UK 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.

| Related party exemption

| 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.

| Turnover

| Turnover comprises of the consideration received for the sale of specialised clothing, excluding discounts, deposits, value added tax and other sales taxes.

| Turnover on the provision of services are recognised net of value added tax and other sales taxes.

| Intangible assets

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

| Other Intangible Asset is being amortised evenly over its estimated useful life of five years.

| Tangible fixed assets

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

| Leasehold improvements at 15 years straight line

| Office fixtures and furnitures at 25% straight line

| Stocks

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

| 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, loans from banks and other third parties, and loans to or from related parties.

| Financial assets that are measured at 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 profit or loss.

| Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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.

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

| Going concern

| Being the early years of operation for the subsidiary in UK, it is still establishing the brand awareness. Hence the company still has not reached the profitable level. The director believes that with the support from the parent company Herno SpA in Italy, the business will continue to operate into the foreseeable future and for minimum of 12 months from the date that the financial statements are authorised for issue.

| Other intangible asset

| Renegotiation fees for the rent of operating leases are capitalised and amortised over the duration of the lease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 13 (2024 - 7 ) .

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 46,500 |  |

| AMORTISATION

| At 1 January 2025 | 18,600 |  |

| Charge for year | 9,300 |  |

| At 31 December 2025 | 27,900 |  |

| NET BOOK VALUE

| At 31 December 2025 | 18,600 |  |

| At 31 December 2024 | 27,900 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025 | 1,079,171 |  |

| Additions | 278,078 |  |

| At 31 December 2025 | 1,357,249 |  |

| DEPRECIATION

| At 1 January 2025 | 540,184 |  |

| Charge for year | 118,835 |  |

| At 31 December 2025 | 659,019 |  |

| NET BOOK VALUE

| At 31 December 2025 | 698,230 |  |

| At 31 December 2024 | 538,987 |  |

6. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 31,631 |  | 21,648 |  |

| Other debtors | 2,104,704 |  | 98,611 |  |

2,136,335 |  | 120,259 |  |

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

6. | DEBTORS - continued

2025 | 2024 |

£ | £ |

| Amounts falling due after more than one year:

| Other debtors | 1,674,578 |  | 1,440,133 |  |

| Aggregate amounts | 3,810,913 |  | 1,560,392 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 517,770 |  | 87,347 |  |

| Amounts owed to group undertakings | 3,379,333 |  | 307,601 |  |

| Taxation and social security | 235,986 |  | 163,099 |  |

| Other creditors | 178,844 |  | 93,351 |  |

4,311,933 |  | 651,398 |  |

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

2025 | 2024 |

£ | £ |

| Other creditors | 2,886,969 |  | 2,749,366 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Other loans more 5yrs non-inst | 2,343,697 |  | 2,343,103 |  |

| Interest on group loans | 406,605 |  | 256,430 |  |

2,750,302 |  | 2,599,533 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 1,380,000 |  | 1,380,000 |  |

| Between one and five years | 5,520,000 |  | 5,520,000 |  |

| In more than five years | 3,860,219 |  | 5,240,219 |  |

10,760,219 |  | 12,140,219 |  |

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

| The Report of the Auditors was unqualified.

| Francesco Andreozzi (Senior Statutory Auditor)

| for and on behalf of Belluzzo Audit Limited

HERNO UK LIMITED (REGISTERED NUMBER: 11581647)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is C Marenzi.

| The immediate controlling party is Herno S.p.A registered at Via Opifici 100, LESA, No.28040, Italy, which prepares the consolidated financial statements but these are not publicly available.