REGISTERED NUMBER: 11581647 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HERNO UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

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

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.

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 ) .

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

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

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.