REGISTERED NUMBER: 09815196 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Hype Motorsport Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B J Hyland

M P Jarvis

R J Laslett

REGISTERED OFFICE:

The Motorist

New Lennerton Lane

Sherburn in Elmet

Leeds

LS25 6JE

REGISTERED NUMBER:

09815196 (England and Wales)

ACCOUNTANTS:

Ardor Business Solutions Limited

Chartered Certified Accountants

Unit 1

Shrine Barn

Sandling Road

Hythe

Kent

CT21 4HE

FIXED ASSETS

Tangible assets

5

210,767

158,750

CURRENT ASSETS

Debtors

6

50,404

22,040

Cash at bank

72,438

44,191

122,842

66,231

CREDITORS

Amounts falling due within one year

7

132,143

84,245

NET CURRENT LIABILITIES

(9,301

)

(18,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

201,466

140,736

CREDITORS

Amounts falling due after more than one year

8

262,936

190,622

NET LIABILITIES

(61,470

)

(49,886

)

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

79,950

79,950

Retained earnings

(141,570

)

(129,986

)

SHAREHOLDERS' FUNDS

(61,470

)

(49,886

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

B J Hyland - Director

1.	STATUTORY INFORMATION

Hype Motorsport 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 (£).

Amounts are rounded to the nearest Pound Sterling.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company meets its day to day working capital requirements through the financial support of its shareholders. The directors expect this financial support to continue for the foreseeable future and therefore consider it appropriate to prepare the accounts on a going concern basis. The accounts do not include any adjustments that may be required should this financial support no longer continue.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Furniture, Fixtures & fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Furniture,

Plant and

Fixtures

Motor

machinery

& fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

12,651

11,764

280,372

304,787

Additions

19,750

1,161

97,991

118,902

At 31 March 2025

32,401

12,925

378,363

423,689

DEPRECIATION

At 1 April 2024

5,447

4,501

136,089

146,037

Charge for year

4,805

1,511

60,569

66,885

At 31 March 2025

10,252

6,012

196,658

212,922

NET BOOK VALUE

At 31 March 2025

22,149

6,913

181,705

210,767

At 31 March 2024

7,204

7,263

144,283

158,750

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

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

195,563

DEPRECIATION

At 1 April 2024

71,328

Charge for year

31,059

At 31 March 2025

102,387

NET BOOK VALUE

At 31 March 2025

93,176

At 31 March 2024

124,235

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

29,162

2,864

VAT

4,599

18,676

Prepayments

16,643

500

50,404

22,040

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

27,683

27,686

Trade creditors

77,840

48,947

Social security and other taxes

1,344

1,406

Other creditors

-

3,231

Directors' current accounts

22,965

664

Accrued expenses

2,311

2,311

132,143

84,245

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

112,936

140,622

Directors' loan accounts

150,000

50,000

262,936

190,622