4th Dimension Innovation Limited

Strategic Report for the Year Ended 31 March 2025

Engaging with our key stakeholders
We consider the Group, our customers, people, suppliers and regulators to be our key stakeholder groups, and their views and concerns are taken into account in developing our business model and strategy.

The Board endeavours to gain an understanding of the perceptions and attitudes of each stakeholder group and the weight they give to different issues. Where the views of different stakeholder groups do not align, the Board must decide on the best course of action to promote the Group’s long-term sustainability and success. It is important for all levels of the business to engage with stakeholder groups to gain a better understanding of their interests and concerns and the impact our decisions have on them.

More detail on how we engage with our key stakeholder groups or where to find more information is set out below.

Customers
Our ambition is to become the UK's most customer-centric and cost effective motorcycle claims management Group and aspects of our key KPIs relate to our customers, putting them at the heart of everything we do and making them our most important stakeholder group. We are committed to providing a great customer experience throughout the claims management process and in all aspects of our business, through the provision of great service and value.

In year ending 31 March 2025 we focused on the following areas:
1. Improving our claims management process to enhance the experience for policy holders from initial contact through to the whole claims process.
2. Driving improvements in our customers’ and their policy holder’s experience.
3. Creating a truly customer-centric culture by focusing on our people and ensuring they receive the best quality training and experience in the workplace.

Customer feedback is an important tool to help us improve their experience and our leaders are encouraged to use our customer feedback metrics to gain insights on the issues that customers raise and to provide feedback on how customer experiences could be improved.

People
Our people are at the heart of our business, supporting our customers and their policy holders every day. We want our people to feel engaged and empowered to deliver great outcomes for our customers and their policy holders, to feel that the Group is a great place to work and to be healthier and happier themselves. People are central to the value creation of the Group and are our greatest asset.

Regulators
Our business is regulated by the Financial Conduct Authority (FCA) and the Solicitors Regulation Authority (SRA) and we ensure that our processes are fully compliant with the laws and regulations required within the industry.

We are firmly committed to achieving high standards of compliance with our regulatory obligations. Increased levels of regulation and liaison between regulators are a continuous trend within our business. We take a proactive and coordinated approach to managing the regulatory risks to which we are exposed in order to reduce the risk of our customers or their policy holders suffering detriment and minimising any financial or reputational damage to our business.
 

4th Dimension Innovation Limited

Strategic Report for the Year Ended 31 March 2025

Suppliers
Our suppliers represent our brand and are critical to delivering a high-quality service to our customers.

We are committed to:
- treating our suppliers fairly and with respect
- paying suppliers within contractual terms
- selecting suppliers without prejudice
- supporting improvements in social, environmental and ethical practices
- maintaining a supply chain that reflects and aligns with our own standards of responsible business conduct
- actively encouraging innovation and ensuring that our carbon footprint is minimised as much as possible.

Communities and the environment
Our employees are regularly involved in Corporate Social Responsibility activities. This demonstrates the broader role we expect to play, not only in the interests of our customers and our people, but also for the wide community in which we operate. Our approach to sustainability is evidenced through our fully supported volunteering programmes.

High standards of business conduct
The group has a robust system of governance and risk management which takes into account the impact of processes and decision-making on various areas, including but not limited to, customer outcomes, people, capital management, supplier management, risk, data quality, information security, privacy, and wellbeing, health and safety.

Non-financial and sustainability information

Environmental matters

In accordance with section 414CB of the Companies Act 2006, sustainability information has been presented in the Directors' Report.

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

4th Dimension Innovation Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the consolidated financial statements for the year ended 31 March 2025.

Directors of the group

The directors who held office during the year were as follows:

M Oldfield

N C Foster - Company secretary and director

Dividends

No dividends were distributed during the year ended 31 March 2025 (2024: Nil).

Financial instruments
The group is impacted by both credit risk, in relation to the credit hire provided to our customers as part of our ongoing service provision, managed as part of our stringent claims vetting process to ensure, as far as possible, we only provide a bike to a customer where recoverability of the hire charges are likely, and also liquidity risk, principally associated with the management of working capital and ensuring the group has sufficient facility to continue to meet its obligation. The group has successful in growing its available facilities in recent years with a number of lenders, all of whom continue to support the business.

Information included in the Strategic Report

In accordance with section 414C of the Companies Act 2006 a review of how the directors have had regard to the need to foster the group’s business relationships with suppliers, customers and others, and the effect of that regard, including on the principal decisions taken by the group during the financial year are included in the strategic report.

4th Dimension Innovation Limited

Directors' Report for the Year Ended 31 March 2025

Streamlined Energy and Carbon Reporting

This report is for the financial year ending 31 March 2025 covering energy and carbon emissions data for all Group companies.

The Group was responsible for the data collection and aggregation, following the Government Guidance on how to measure and report greenhouse gas emissions in line with The Companies Act 2006 Regulations.

Greenhouse gas emissions were calculated according to the Greenhouse Gas Protocol Corporate Greenhouse Gas Accounting and Reporting Standard.

Scope and Subject Matter:

This report includes sources of environmental impacts under the operational control of the Group, including all active subsidiary companies.

Energy and GHG sources included in the process

Scope 1: Fuel used in Group-owned vehicles and natural gas:

Data Source: Fuel for travel of Group-owned vehicles and burning oil utilised for heating were provided as litres consumed, thus those were converted to kWh using the UK Government GHG Conversion Factors for Company Reporting. Gas consumption was provided in the form of building meter readings during the period.

Scope 2: Purchased Electricity:

Data Source: Electricity consumption was provided in the form of building meter readings during the period.

Mandatory reporting of emissions has been reported in tonnes of carbon dioxide equivalent (tCO2e), as follows:

4th Dimension Innovation Limited

Directors' Report for the Year Ended 31 March 2025

4th Dimension Innovation Limited

Directors' Report for the Year Ended 31 March 2025

Energy efficiency measures

The following measures were adopted in the 2024/25 financial year or have been planned to enhance energy efficiency within the Group.
• Review of all buildings regarding solar panel installation to increase energy efficiency
• Continued installation of motion sensors for lighting in all sites
• Continued installation of LED lighting to replace original lighting at all 4th Dimension sites
• Prioritised public transport access when siting new business locations
• Prioritised energy efficiency when siting new business locations to reduce internal transport movements and greater efficiencies in overall process
• Adoption of on-site fleet mechanic and tyre replacement services
• New and existing sites have been reviewed for energy reducing measures including creation of additional smaller entrance areas with plastic curtains
• Introduction of train-the-trainer strategy to reduce external training and therefore carbon footprint when travelling
• Promoted online meetings rather than face to face wherever possible
• Waste reduction and cost management program undertaken to focus the business on improved waste management and controls
• Continued adoption of the internal Facilities team across all sites to reduce the need for external contractors travelling to site
 

Disclosure of information to the auditor

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

4th Dimension Innovation Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4th Dimension Innovation Limited

Independent Auditor's Report to the Members of 4th Dimension Innovation Limited

Opinion

We have audited the financial statements of 4th Dimension Innovation Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

We have nothing to report in this regard.

4th Dimension Innovation Limited

Independent Auditor's Report to the Members of 4th Dimension Innovation Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

4th Dimension Innovation Limited

Independent Auditor's Report to the Members of 4th Dimension Innovation Limited

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

(1) Enquiries of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- the internal controls established to mitigate risks related to fraud or non-compliance of laws and regulations; and

(2) Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and FRS 102.

As a result of these procedures, we considered the particular areas that were susceptible to misstatement due to fraud were in respect of revenue recognition, complex related party transactions and management override. Our procedures to respond to risks identified included the following:

(1) reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

(2) testing documents to ensure completeness of revenue;

(3) enquiring of management concerning actual and potential litigation and claims;

(4) performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

(5) in addressing the risk of fraud through management override of controls, testing the appropriateness of any journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the rationale of any significant transactions that are unusual or outside the normal course of the company's operations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

4th Dimension Innovation Limited

Independent Auditor's Report to the Members of 4th Dimension Innovation Limited

......................................
Mr Gavin Fernandes FCA (Senior Statutory Auditor)
For and on behalf of MG Audit Services Limited, Statutory Auditor
 166 College Road
Harrow
Middlesex
HA1 1BH

17 December 2025

4th Dimension Innovation Limited

Consolidated Profit and Loss Account for the Year Ended 31 March 2025

The group has no recognised gains or losses for the year other than the results above.

4th Dimension Innovation Limited

Consolidated Statement of Comprehensive Income for the Year Ended 31 March 2025

4th Dimension Innovation Limited

Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	11	7,307,322	8,873,276
Investments	12	700	700
		7,308,022	8,873,976
Current assets
Stocks	13	27,241,810	23,523,263
Debtors	14	8,840,725	9,540,862
Cash at bank and in hand	15	355,910	634,550
		36,438,445	33,698,675
Creditors: amounts falling due within one year	16	(22,703,266)	(26,184,670)
Net current assets		13,735,179	7,514,005
Total assets less current liabilities		21,043,201	16,387,981
Creditors: amounts falling due after more than one year	16	(1,543,422)	(2,183,050)
Provisions for liabilities	17	(2,451,521)	(1,886,996)
Net assets		17,048,258	12,317,935
Capital and reserves
Called up share capital	18	100	100
Retained earnings		17,048,158	12,317,835
Shareholders' funds		17,048,258	12,317,935

As permitted by the Section 408 of the Companies Act 2006, the profit & loss account of the parent company is not presented as part of these financial statements.

The company made a profit after tax for the financial year of £4,730,323 (2024 - profit of £1,766,824).

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

......................................... N C Foster Company secretary and director

The notes on pages 22 to 41 form an integral part of these financial statements.

Page 18

 

4th Dimension Innovation Limited

Consolidated Statement of Changes in Equity for the Year Ended 31 March 2025
Equity attributable to the parent company

	Share capital £	Retained earnings £	Total £	Total equity £
At 1 April 2024	100	12,841,959	12,842,059	12,842,059
Profit for the year	-	6,731,231	6,731,231	6,731,231
At 31 March 2025	100	19,573,190	19,573,290	19,573,290

	Share capital £	Retained earnings £	Total £	Total equity £
At 1 April 2023	100	11,117,346	11,117,446	11,117,446
Profit for the year	-	1,724,613	1,724,613	1,724,613
At 31 March 2024	100	12,841,959	12,842,059	12,842,059

The notes on pages 22 to 41 form an integral part of these financial statements.

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4th Dimension Innovation Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

	Called up share capital £	Retained earnings £	Total £
At 1 April 2023	100	10,551,011	10,551,111
Profit for the year	-	1,766,824	1,766,824
At 31 March 2024	100	12,317,835	12,317,935

	Share capital £	Retained earnings £	Total £
At 1 April 2024	100	12,317,835	12,317,935
Profit for the year	-	4,730,323	4,730,323
At 31 March 2025	100	17,048,158	17,048,258

The notes on pages 22 to 41 form an integral part of these financial statements.

Page 20

 

4th Dimension Innovation Limited

Consolidated Statement of Cash Flows for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Cash flows from operating activities
Profit for the year		6,731,231	1,724,613
Adjustments to cash flows from non-cash items
Depreciation and amortisation	3	2,069,451	1,796,658
Loss on disposal of tangible assets		610,216	580,652
Finance income	4	(31,861)	(27,042)
Finance costs	5	901,528	779,552
Income tax expense (receipt)	9	2,073,844	692,972
		12,354,409	5,547,405
Working capital adjustments
Increase in stocks	13	(6,368,710)	(6,274,417)
Decrease/(increase) in trade debtors	14	369,030	(2,319,023)
(Decrease)/increase in trade creditors	16	(617,588)	5,684,650
Increase in provisions	17	206,026	190,801
Cash generated from operations		5,943,167	2,829,416
Income taxes paid	9	-	(1,804)
Net cash flow from operating activities		5,943,167	2,827,612
Cash flows from investing activities
Interest received		31,861	27,042
Acquisitions of tangible assets		(1,897,675)	(4,378,118)
Proceeds from sale of tangible assets		797,630	68,989
Net cash flows from investing activities		(1,068,184)	(4,282,087)
Cash flows from financing activities
Interest paid	5	(901,528)	(779,552)
Proceeds from bank borrowing draw downs		(2,065,724)	2,154,262
Payments to finance lease creditors		(1,406,692)	675,467
Net cash flows from financing activities		(4,373,944)	2,050,177
Net increase in cash and cash equivalents		501,039	595,702
Cash and cash equivalents at beginning of year		2,744,931	2,149,229
Cash and cash equivalents at end of year		3,245,970	2,744,931

The notes on pages 22 to 41 form an integral part of these financial statements.

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4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5 Alpha Way
Thorpe Industrial Estate
Egham
Surrey
TW20 8RZ
England

These financial statements were authorised for issue by the Board on 17 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has taken advantage of the exemption in section 408 of the Companies Act 2006 from presenting its individual profit and loss account.

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4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2025.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The group meets its day-to-day working capital requirements through its bank facilities.

In carrying out their duties in respect of going concern, the directors have reviewed the group’s forecast cashflow, borrowing facilities and expected operational activities of the group. The forecasts demonstrate that the group has sufficient cash reserve and available headroom under its borrowing facilities to pay all the debts as they fall due and is forecast to remain in compliance with the terms of its facilities for a period of at least 12 months from the date of the date of signing of these financial statements.

As such the directors believe that the group has adequate resources to continue to operate for the foreseeable future and thus consider it appropriate to adopt the going concern basis of accounting in preparing these financial statements.

Page 23

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Judgements

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that are considered to be relevant. Actual result may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation of tangible fixed assets:
The group establishes a reliable estimate of the depreciation of tangible fixed assets. The estimate is based on the expected useful life of the assets held.

Stock provision:
Stock is valued at the lower of cost and net realisable value. A provision for slow moving stock is included in where necessary in line with the group policy.

Work In Progress:
Work-in-progress in relation to the value of current open cases is estimated based on the best available latest information. Due to the inherent uncertainty as to the quantum at which cases are settled, this estimate is based on the expectation of management based on past cases.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

Government grants

Governments grants are recognised at the fair value of the assets received or receivable when there is reasonable assurance that grant conditions will be med and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. When a grant does not specify performance conditions it is recognised in income if the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Short leasehold	Straight line over the period of lease
Plant and machinery	25% Reducing balance
Fixtures & fittings	25% Straight line
Motor vehicles	18% Reducing balance for Bikes & 25% Straight line for Vans
Computer equipment	25% Straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Page 25

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patent & licences	10% Straightline

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks & Work-in-progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Work-in-progress is calculated based on the value that should be recoverable on current open claims as at the balance sheet date. Management have used the historical data from past completed cases as the basis for ascertaining a prudent valuation of Work-in-progress.

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4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors 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 the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the group has an obligation at the reporting date as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 27

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Financial instruments

The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

i. Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

ii. Financial liabilities
Basic financial liabilities, including trade and other payables and bank loans that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

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. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

iii. Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.
 

Page 28

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

3	Operating profit

Arrived at after charging

	2025 £	2024 £
Depreciation expense	2,069,427	1,796,025
Amortisation expense	24	633
Loss on disposal of property, plant and equipment	610,216	580,652

4	Other interest receivable and similar income

	2025 £	2024 £
Interest income on bank deposits	31,861	27,042

5	Interest payable and similar expenses

	2025 £	2024 £
Interest on bank overdrafts and borrowings	573,583	459,068
Interest on obligations under finance leases and hire purchase contracts	327,945	320,484
	901,528	779,552

6	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2025 £	2024 £
Wages and salaries	19,581,490	15,803,598
Social security costs	1,317,757	1,059,548
Pension costs, defined contribution scheme	234,145	191,632
Other employee expenses	386,472	646,029
	21,519,864	17,700,807

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

	2025 No.	2024 No.
Administration and support	294	226
Sales	28	13
Other departments	179	180
	501	419

Page 29

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7	Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	600,290	703,278
Contributions paid to money purchase schemes	4,081	4,081
	604,371	707,359

In respect of the highest paid director:

	2025 £	2024 £
Remuneration	273,777	278,000

8	Auditors' remuneration

	2025 £	2024 £
Other fees to auditors
The auditing of accounts of any associate of the company	64,506	59,115
Audit-related assurance services	10,558	10,190
	75,064	69,305

 

9

Taxation

Tax charged in the consolidated profit and loss account

	2025 £	2024 £
Current taxation
UK corporation tax	1,730,418	-
UK corporation tax adjustment to prior periods	(38,413)	-
	1,692,005	-
Deferred taxation
Arising from origination and reversal of timing differences	381,839	692,972
Tax expense in the income statement	2,073,844	692,972

Page 30

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

	2025 £	2024 £
Profit before tax	8,805,075	2,417,585
Corporation tax at standard rate	2,201,271	604,396
Decrease in UK and foreign current tax from adjustment for prior periods	(38,413)	-
Tax increase/(decrease) from effect of capital allowances and depreciation	370,438	(491,132)
Tax decrease from utilisation of tax losses	(841,576)	(113,264)
Deferred tax expense from unrecognised tax loss or credit	381,839	692,972
Tax increase (decrease) from other tax effects	285	-
Total tax charge	2,073,844	692,972

10	Intangible assets

Group

	Goodwill  £	Trademarks, patents and licenses  £	Total £
Cost
At 1 April 2024	3,452	6,357	9,809
At 31 March 2025	3,452	6,357	9,809
Accumulated amortisation
At 1 April 2024	3,452	6,333	9,785
Amortisation charge	-	24	24
At 31 March 2025	3,452	6,357	9,809
Carrying amount
At 31 March 2025	-	-	-
At 31 March 2024	-	24	24

Page 31

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11	Tangible assets

Group

	Short leasehold £	Plant and machinery £	Fixtures and fittings £	Motor vehicles £	Computer equipment £	Total £
Cost
At 1 April 2024	84,665	752,552	1,078,589	11,622,307	1,706,994	15,245,107
Additions	34,456	63,966	9,967	1,494,704	294,582	1,897,675
Disposals	-	-	-	(2,414,776)	-	(2,414,776)
At 31 March 2025	119,121	816,518	1,088,556	10,702,235	2,001,576	14,728,006
Accumulated depreciation
At 1 April 2024	51,159	609,120	652,288	3,790,029	1,150,068	6,252,664
Charge for the year	11,751	46,508	93,914	1,609,158	308,096	2,069,427
Eliminated on disposal	-	-	-	(1,006,930)	-	(1,006,930)
At 31 March 2025	62,910	655,628	746,202	4,392,257	1,458,164	7,315,161
Carrying amount
At 31 March 2025	56,211	160,890	342,354	6,309,978	543,412	7,412,845
At 31 March 2024	33,506	143,432	426,301	7,832,278	556,926	8,992,443

Page 32

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Company

	Short leasehold £	Plant and machinery £	Fixtures and fittings £	Motor vehicles £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	45,674	712,337	955,695	11,622,307	1,645,342	14,981,355
Additions	34,456	63,966	9,967	1,494,704	291,583	1,894,676
Disposals	-	-	-	(2,414,776)	-	(2,414,776)
At 31 March 2025	80,130	776,303	965,662	10,702,235	1,936,925	14,461,255
Depreciation
At 1 April 2024	22,895	573,101	609,332	3,790,029	1,112,722	6,108,079
Charge for the year	10,230	45,669	85,830	1,609,158	301,897	2,052,784
Eliminated on disposal	-	-	-	(1,006,930)	-	(1,006,930)
At 31 March 2025	33,125	618,770	695,162	4,392,257	1,414,619	7,153,933
Carrying amount
At 31 March 2025	47,005	157,533	270,500	6,309,978	522,306	7,307,322
At 31 March 2024	22,779	139,236	346,363	7,832,278	532,620	8,873,276

Page 33

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

12	Investments

Group

Details of undertakings

Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
BikeNation MCS Limited*	Unit 1,9A Farnham Trading Estate, Farnham, GU9 9NN	Ordinary share	100%	100%
Phase 1 MCS Limited*	Unit 1,9A Farnham TradingEstate, Farnham, GU9 9NN	Ordinary share	100%	100%
Ridenation Limited*	Strand House, Blackbushe Business Park, Galway Road, Yatley, GU46 6GE	Ordinary share	100%	100%
Spectare Limited*	5 Alpha Way, Thorpe Business Park, Egham TW20 8RZ	Ordinary share	100%	100%

Page 34

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
Motomine Limited*	Strand House, Blackbushe Business Park, Galway Road, Yateley, England, GU46 6GE	Ordinary share	100%	100%
Bike Assist Legal Limited*	Unit 4, Alpha Way, Thorpe Industrial Estate, Egham, England, TW20 8RZ	Ordinary share	100%	100%
Bike Assist Limited*	Unit 4, Alpha Way, Thorpe Industrial Estate, Egham, England, TW20 8RZ	Ordinary share	100%	100%

Subsidiary undertakings

The principal activity of BikeNation MCS Limited is Sale of motorcycles and ancillary equipment.

The principal activity of Phase 1 MCS Limited is Online retailer of motor cycle clothing and extras.

The principal activity of Ridenation Limited is Sale of motor bikes.

The principal activity of Spectare Limited is Solicitors.

The principal activity of Motomine Limited is Dormant Company.

The principal activity of Bike Assist Legal Limited is Dormant Company.

The principal activity of Bike Assist Limited is Dormant Company.

Company

	2025 £	2024 £
Investments in subsidiaries	700	700

Subsidiaries	£
Cost or valuation
At 1 April 2024	700
Provision
Carrying amount
At 31 March 2025	700
At 31 March 2024	700

Page 35

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

13

Stocks

	Group		Company
	2025 £	2024 £	2025 £	2024 £
Work in progress	32,324,361	27,442,538	24,527,092	21,736,564
Other inventories	4,597,226	3,110,339	2,714,718	1,786,699
	36,921,587	30,552,877	27,241,810	23,523,263

14

Debtors

		Group		Company
Current	Note	2025 £	2024 £	2025 £	2024 £
Trade debtors		55,660	1,491,613	441,693	1,263,793
Amounts owed by related parties	23	-	-	5,818,447	6,301,879
Other debtors		1,924,128	1,272,491	847,300	536,218
Prepayments		1,905,462	1,551,089	1,733,285	1,438,972
		3,885,250	4,315,193	8,840,725	9,540,862

15	Cash and cash equivalents

	Group		Company
	2025 £	2024 £	2025 £	2024 £
Cash on hand	1,722	1,121	1,265	166
Cash at bank	3,244,248	2,743,810	354,645	634,384
	3,245,970	2,744,931	355,910	634,550

16

Creditors

		Group		Company
	Note	2025 £	2024 £	2025 £	2024 £
Due after one year
Loans and borrowings	19	1,556,755	2,216,383	1,543,422	2,183,050

Page 36

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

		Group		Company
	Note	2025 £	2024 £	2025 £	2024 £
Due within one year
Bank loans and overdrafts	19	5,376,230	8,189,018	5,269,769	8,169,018
Trade creditors		5,295,498	5,750,602	5,275,799	5,399,716
Corporation tax	9	1,730,418	38,413	1,071,723	-
Social security and other taxes		394,171	431,148	380,841	1,455,739
VAT		1,351,687	1,030,311	1,055,831	946,684
Other creditors		2,261,068	2,157,725	196,121	481,230
Other creditors (customers)		7,012,481	7,122,531	7,012,481	7,122,531
Accruals		3,480,195	4,054,055	2,440,701	2,609,752
Honda financing		885,743	812,972	-	-
		27,787,491	29,586,775	22,703,266	26,184,670

17	Provisions for liabilities

Group

	Dilapidation provision £	Deferred tax £	Total £
At 1 April 2024	547,956	1,412,295	1,960,251
Increase in existing provisions	206,026	381,839	587,865
At 31 March 2025	753,982	1,794,134	2,548,116

Company

	Dilapidation provision £	Deferred tax £	Total £
At 1 April 2024	477,936	1,409,060	1,886,996
Increase in existing provisions	182,686	381,839	564,525
At 31 March 2025	660,622	1,790,899	2,451,521

18	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	100	100	100	100

Page 37

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

19	Loans and borrowings

Non-current loans and borrowings

	Group		Company
	2025 £	2024 £	2025 £	2024 £
Bank borrowings	13,333	33,333	-	-
Hire purchase contracts	1,543,422	2,183,050	1,543,422	2,183,050
	1,556,755	2,216,383	1,543,422	2,183,050

Current loans and borrowings

	Group		Company
	2025 £	2024 £	2025 £	2024 £
Bank borrowings	3,616,587	5,662,311	3,510,126	5,642,311
Hire purchase contracts	1,759,643	2,526,707	1,759,643	2,526,707
	5,376,230	8,189,018	5,269,769	8,169,018

20	Secured debts

21	Obligations under leases and hire purchase contracts

Group

Hire purchase contracts

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	1,759,643	2,526,706
Later than one year and not later than five years	1,543,422	2,183,050
	3,303,065	4,709,756

Operating leases

The total of future minimum lease payments is as follows:

Page 38

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

	2025 £	2024 £
Not later than one year	1,655,982	956,252
Later than one year and not later than five years	4,910,412	4,287,432
Later than five years	1,776,461	2,801,408
	8,342,855	8,045,092

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,975,539 (2024 - £1,326,889).

Company

Hire purchase contracts

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	1,759,643	2,526,706
Later than one year and not later than five years	1,543,422	2,183,050
	3,303,065	4,709,756

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	1,565,982	866,252
Later than one year and not later than five years	4,812,768	4,099,788
Later than five years	1,776,461	2,801,408
	8,155,211	7,767,448

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,818,029 (2024 - £1,177,210).

Page 39

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

22	Analysis of changes in net debt

Group

	At 1 April 2024 £	Financing cash flows £	New finance leases £	At 31 March 2025 £
Cash and cash equivalents
Cash at bank and in hand	2,744,931	501,039	-	3,245,970
Borrowings
Loan and borrowing - non current	(33,333)	20,000	-	(13,333)
Loan and borrowing - current	(5,662,311)	2,045,724	-	(3,616,587)
Hire purchase contract - current	(2,526,707)	-	767,064	(1,759,643)
Hire purchase contract- non current	(2,183,050)	-	639,628	(1,543,422)
	(10,405,401)	2,065,724	1,406,692	(6,932,985)
	(7,660,470)	2,566,763	1,406,692	(3,687,015)

Company

	At 1 April 2024 £	Financing cash flows £	New finance leases £	At 31 March 2025 £
Cash and cash equivalents
Cash at bank and in hand	634,550	(278,640)	-	355,910
Borrowings
Loan and borrowing - current	(5,642,311)	2,132,185	-	(3,510,126)
Hire purchase contract- current	(2,526,707)	-	767,064	(1,759,643)
Hire purchase contract - non current	(2,183,050)	-	639,628	(1,543,422)
	(10,352,068)	2,132,185	1,406,692	(6,813,191)
	(9,717,518)	1,853,545	1,406,692	(6,457,281)

23	Related party transactions

Group

Trading takes place between the parent company, 4th Dimension Innovation Limited and subsidiaries. All transactions are at market value and have been removed on consolidation. The group has taken advantage of the exemption available in FRS 102 “Related parties’ disclosure”; whereby it has not disclosed transactions with any wholly owned subsidiary undertakings.

Page 40

 

4th Dimension Innovation Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

24	Financial instruments

Group

Categorisation of financial instruments

	2025  £	2024  £
Financial assets measured at amortised cost	3,301,630	5,509,035
Financial liabilities measured at amortised cost	(13,114,226)	(24,680,627)

Company

Categorisation of financial instruments

	2025  £	2024  £
Financial assets measured at amortised cost	6,616,050	8,736,440
Financial liabilities measured at amortised cost	(12,088,990)	(21,245,189)

25	Ultimate controlling party

In the current financial year the group comprising 4th Dimension Innovation Limited, BikeNation MCS Limited, Phase 1 MCS Limited, Ridenation Limited, Spectare Limited, Motomine Limited, Bike Assist Legal Limited and Bike Assist Limited were controlled by N C Foster by virtue of his shareholding in the issued share capital of the parent company, 4th Dimension Innovation Limited.

Page 41