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Company No: 03550936 (England and Wales)

# NITRON RACING SYSTEMS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH THE REGISTRAR

NITRON RACING SYSTEMS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

Contents

NITRON RACING SYSTEMS LIMITED

## BALANCE SHEET

AS AT 30 SEPTEMBER 2025
NITRON RACING SYSTEMS LIMITED

## BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,593,337 |  | 2,640,096
|  | 2,593,337 |  | 2,640,096
Current assets |  |  |  |
Stocks |  | 893,596 |  | 1,272,448
Debtors | 4, 9 | 1,102,787 |  | 944,650
Cash at bank and in hand |  | 385,121 |  | 186,426
|  | 2,381,504 |  | 2,403,524
Creditors: amounts falling due within one year | 5 | ( 850,171) |  | ( 795,245)
Net current assets |  | 1,531,333 |  | 1,608,279
Total assets less current liabilities |  | 4,124,670 |  | 4,248,375
Creditors: amounts falling due after more than one year | 6 | ( 1,056,101) |  | ( 1,140,437)
Provision for liabilities |  | ( 65,956) |  | ( 77,013)
Net assets |  | 3,002,613 |  | 3,030,925
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1,000 |  | 1,000
Profit and loss account |  | 3,001,613 |  | 3,029,925
Total shareholders' funds |  | 3,002,613 |  | 3,030,925

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Nitron Racing Systems Limited (registered number: 03550936) were approved and authorised for issue by the Director on 08 April 2026. They were signed on its behalf by:

Mr G S Evans Director |

NITRON RACING SYSTEMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
NITRON RACING SYSTEMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Nitron Racing Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8, Tungsten Park, Collett Way, Witney, OX29 0AX, United Kingdom.
These financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods are considered to have been transferred to the customer (usually on the dispatch of the goods); the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; and the cost incurred or to be incurred in respect of the transaction can be measured reliably.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery etc. | 15 - 25 % reducing balance
| 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets (other than those measured at fair value) to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset, with the net amounts presented in the financial statements, in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

##### Provisions

Provisions for warranty costs are recognised when the company has a present obligation (legal or constructive) as a result of a past event; it is probable that the outflow will be required to settle that obligation; and a reliable estimate can be made of the amount of the obligation. Warranty provisions are not discounted.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 33 |  | 36

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 October 2024 | 2,268,488 |  | 1,044,667 |  | 3,313,155
Additions | 50,593 |  | 40,935 |  | 91,528
Disposals | 0 |  | ( 68,694) |  | ( 68,694)
At 30 September 2025 | 2,319,081 |  | 1,016,908 |  | 3,335,989
Accumulated depreciation |  |  |  |  |
At 01 October 2024 | 118,813 |  | 554,246 |  | 673,059
Charge for the financial year | 42,265 |  | 89,823 |  | 132,088
Disposals | 0 |  | ( 62,495) |  | ( 62,495)
At 30 September 2025 | 161,078 |  | 581,574 |  | 742,652
Net book value |  |  |  |  |
At 30 September 2025 | 2,158,003 |  | 435,334 |  | 2,593,337
At 30 September 2024 | 2,149,675 |  | 490,421 |  | 2,640,096

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 412,691 |  | 283,062
Other debtors | 690,096 |  | 661,588
| 1,102,787 |  | 944,650

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 87,975 |  | 142,476
Trade creditors | 531,031 |  | 516,753
Corporation tax | 98,137 |  | 31,072
Other taxation and social security | 80,062 |  | 51,908
Obligations under finance leases and hire purchase contracts | 5,519 |  | 7,794
Other creditors | 47,447 |  | 45,242
| 850,171 |  | 795,245

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 1,049,142 |  | 1,139,138
Obligations under finance leases and hire purchase contracts | 6,959 |  | 1,299
| 1,056,101 |  | 1,140,437

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
950 Ordinary A shares of £ 1.00 each | 950 |  | 950
50 Ordinary B shares of £ 1.00 each | 50 |  | 50
| 1,000 |  | 1,000

#### 8. Retirement Benefit Schemes

Defined Contribution Schemes

| 2025 |  | 2024
| £ |  | £
Charge to profit or loss in respect of defined contribution schemes | 21,852 |  | 22,143

#### 9. Director's transactions

At the period end, the director owed the company £344,199 (2024: £348,293). Interest has been charged on the loan totaling £9,281 (2024: £7,511). There is no fixed date for repayment other than the loan is repayable on demand.