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REGISTERED NUMBER: 02022536 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2026 |

| FOR |

| NICHOLAS HERBERT LTD |

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

| Page |

Company Information | 1 |

Accountants' Report | 2 |

Statement of Financial Position | 3 |  | to |  | 4

Notes to the Financial Statements | 5 |  | to |  | 8

NICHOLAS HERBERT LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTOR: | Mr E N D Herbert

| REGISTERED OFFICE: | 118 Lots Road

| London

| SW10 0RJ

| REGISTERED NUMBER: | 02022536 (England and Wales)

| ACCOUNTANTS: | Seymour Taylor Limited

| First Floor North

| 40 Oxford Road

| High Wycombe

| Buckinghamshire

| HP11 2EE

ACCOUNTANTS' REPORT TO THE DIRECTOR

ON THE UNAUDITED FINANCIAL STATEMENTS OF

NICHOLAS HERBERT LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nicholas Herbert Ltd for the year ended 31 March 2026 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nicholas Herbert Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nicholas Herbert Ltd and state those matters that we have agreed to state to the director of Nicholas Herbert Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nicholas Herbert Ltd and its director for our work or for this report.

It is your duty to ensure that Nicholas Herbert Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nicholas Herbert Ltd. You consider that Nicholas Herbert Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nicholas Herbert Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Seymour Taylor Limited

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

3 July 2026

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

STATEMENT OF FINANCIAL POSITION

31 MARCH 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,259 |  | 5,618 |  |

Investments | 5 | 475,570 |  | 522,073 |  |

479,829 |  | 527,691 |  |

CURRENT ASSETS

Stocks | 6 | 167,660 |  | 167,713 |  |

Debtors | 7 | 50,899 |  | 54,364 |  |

Cash at bank and in hand | 1,092,692 |  | 774,653 |  |

1,311,251 |  | 996,730 |  |

CREDITORS

Amounts falling due within one year | 8 | 150,137 |  | 120,744 |  |

NET CURRENT ASSETS | 1,161,114 |  | 875,986 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,640,943 |  | 1,403,677 |  |

PROVISIONS FOR LIABILITIES | 1,064 |  | 1,404 |  |

NET ASSETS | 1,639,879 |  | 1,402,273 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 80,805 |  | 80,805 |  |

Share premium | 1,124 |  | 1,124 |  |

Fair value reserve | 14,741 |  | (693 | ) |

Retained earnings | 1,543,209 |  | 1,321,037 |  |

SHAREHOLDERS' FUNDS | 1,639,879 |  | 1,402,273 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2026

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:

Mr E N D Herbert - Director

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Nicholas Herbert Ltd is a private company, limited by shares and incorporated in England & Wales. The address of the company's registered office is 118 Lots Road, London, SW10 0RJ. The registered number is 02022536.

| The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

| Turnover

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

| Turnover is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually on dispatch of the goods.

| Tangible fixed assets

| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

| useful life.

| Plant and machinery - reducing balance - 15%

| Computer equipment - straight line - 33%

| Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Investments

| Investments are initially recognised at fair value which is usually the transaction price. Subsequently, the investments are measured at fair value through profit or loss except for those investments which cannot be publicly traded or where fair value cannot be reliably measured.

| If reliable measurement of fair value cannot be obtained or this measure is no longer available, the investment's cost is deemed to be the fair value at the last point to which a reliable measurement was obtained. These instruments are recognised at cost less impairment until a reliable measure of fair value becomes available.

| Stocks

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

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2025 - 4 ) .

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 124,911 |  |

| DEPRECIATION

| At 1 April 2025 | 119,293 |  |

| Charge for year | 1,359 |  |

| At 31 March 2026 | 120,652 |  |

| NET BOOK VALUE

| At 31 March 2026 | 4,259 |  |

| At 31 March 2025 | 5,618 |  |

5. | FIXED ASSET INVESTMENTS

| Listed

| investments

£ |

| COST OR VALUATION

| At 1 April 2025 | 522,073 |  |

| Additions | 431,615 |  |

| Disposals | (491,274 | ) |

| Revaluations | 13,156 |  |

| At 31 March 2026 | 475,570 |  |

| NET BOOK VALUE

| At 31 March 2026 | 475,570 |  |

| At 31 March 2025 | 522,073 |  |

| In respect of the fixed assets stated at valuation, the comparable historical cost values are as follows:

|  | 2026 |  |  | 2025 |  |

|  | £ |  |  | £ |  |

| Historical cost |  | 460,830 |  |  | 522,595 |  |

6. | STOCKS

2026 | 2025 |

£ | £ |

| Stocks | 167,660 |  | 167,713 |  |

NICHOLAS HERBERT LTD (REGISTERED NUMBER: 02022536)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

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

2026 | 2025 |

£ | £ |

| Trade debtors | 49,591 |  | 47,898 |  |

| Other debtors | 1,308 |  | 6,466 |  |

50,899 |  | 54,364 |  |

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

2026 | 2025 |

£ | £ |

| Trade creditors | 40,070 |  | 45,399 |  |

| Taxation and social security | 91,235 |  | 62,025 |  |

| Other creditors | 18,832 |  | 13,320 |  |

150,137 |  | 120,744 |  |

9. | LEASING AGREEMENTS

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

2026 | 2025 |

£ | £ |

| Within one year | 30,000 |  | 30,000 |  |

| Between one and five years | 55,000 |  | 85,000 |  |

85,000 |  | 115,000 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: |  | Class: |  | Nominal |  | 2026 |  |  | 2025 |  |

|  | Value: |  | £ |  |  | £ |  |

| 68,735 |  | Ordinary |  | £1 |  | 68,735 |  |  | 68,735 |  |

| 9,070 |  | Ordinary A |  | £1 |  | 9,070 |  |  | 9,070 |  |

| 1,500 |  | Ordinary B |  | £1 |  | 1,500 |  |  | 1,500 |  |

| 1,500 |  | Ordinary C |  | £1 |  | 1,500 |  |  | 1,500 |  |

|  | 80,805 |  |  | 80,805 |  |