Herner & Co Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 02540805

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,884		6,292

			4,884		6,292
CURRENT ASSETS
Stocks	5	427,260		438,802
Debtors	6	25,974		203,198
Cash at bank and in hand		29,557		96,070

		482,791		738,070
Creditors: Amounts Falling Due Within One Year	7	(334,842 )		(686,507 )

NET CURRENT ASSETS (LIABILITIES)			147,949		51,563

TOTAL ASSETS LESS CURRENT LIABILITIES			152,833		57,855

Creditors: Amounts Falling Due After More Than One Year	8		-		(9,167 )

NET ASSETS			152,833		48,688

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			152,831		48,686

SHAREHOLDERS' FUNDS			152,833		48,688

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Herner & Co Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Richard Herner

Director

22/07/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Herner & Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02540805 . The registered office is The Limes, 1339 High Road, Whetstone, London, N20 9HR.

The company's principal activity during the year continued to be that of dealing in works of art and providing consultancy services.

The Financial statements are presented in sterling which is the functional currency of the company and rounded to nearest £.

The significant accounting policies applied in the preparation of this financial statement are set out below.

These policies have been consistently applied to all years presented.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2025: 2)

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Herner & Co Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2025	15,485	5,900	21,385
Additions	219	-	219

As at 31 March 2026	15,704	5,900	21,604

Depreciation
As at 1 April 2025	13,618	1,475	15,093
Provided during the period	521	1,106	1,627

As at 31 March 2026	14,139	2,581	16,720

Net Book Value
As at 31 March 2026	1,565	3,319	4,884

As at 1 April 2025	1,867	4,425	6,292

5. Stocks

	2026	2025
	£	£
Finished goods	427,260	438,802

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	25,145	201,467
VAT	829	1,731

	25,974	203,198

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	9,237	308,196
Bank loans and overdrafts	10,000	10,000
PAYE/NI control	-	1,685
Other creditors	92,967	92,967
Accruals	6,042	6,042
Barclaycard Commercial	-	3
Pension creditors	-	(101 )
Accruals and deferred income	1,208	-
Director's loan account	215,388	267,715

	334,842	686,507

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Herner & Co Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Loans 1-2 yrs	-	9,167

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

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