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Company registration number: 11854533
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2025
| HP TUNERS EUROPE LTD
HP TUNERS EUROPE LTD |  |
COMPANY INFORMATION
Directors | R Mcintyre
| C J Piastri
| K Prociuk
Registered number | 11854533
Registered office | Richmond House
| Walkern Road
| Stevenage
| SG1 3QP
Accountants | Menzies LLP
| Chartered Accountants
| Richmond House
| Walkern Road
| Stevenage
| Hertfordshire
| SG1 3QP
HP TUNERS EUROPE LTD |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 7
HP TUNERS EUROPE LTD REGISTERED NUMBER:11854533 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 13,382 |  | 21,343
|  |  | 13,382 |  | 21,343
Current assets |  |  |  |  |
Stocks |  | 27,886 |  | 19,929 |
Debtors: amounts falling due within one year | 5 | 115,216 |  | 104,876 |
Cash at bank and in hand |  | 79,991 |  | 94,805 |
|  | 223,093 |  | 219,610 |
Creditors: amounts falling due within one year | 6 | (552,343) |  | (517,249) |
Net current liabilities |  |  | (329,250) |  | (297,639)
Total assets less current liabilities |  |  | (315,868) |  | (276,296)
Net liabilities |  |  | (315,868) |  | (276,296)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (315,968) |  | (276,396)
|  |  | (315,868) |  | (276,296)
Page 1
HP TUNERS EUROPE LTD REGISTERED NUMBER:11854533 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ R Mcintyre
Director
Date: 22 May 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
HP TUNERS EUROPE LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
HP Tuners Europe Ltd 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 (£). 2. Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis. The connected company, HP Tuners LLC, have indicated that they will contiue to support the company for the foreseeable future and will not demand payment of amounts due to them until the cash flow of the company allow for this. The financial statements have been prepared on a going concern basis accordingly.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 3
HP TUNERS EUROPE LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
HP TUNERS EUROPE LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% |
|  |  |  | Motor vehicles | - | 20% |
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Computer equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is 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.
| 2.8 | Financial instruments
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
3. | Employees
| The average monthly number of employees, including directors, during the year was 13 (2024 - 12).
Page 5
HP TUNERS EUROPE LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 24,923 | 26,033 | 39,936 | 40,634 | 131,526
| Additions | - | - | - | 4,742 | 4,742
| At 31 December 2025 | 24,923 | 26,033 | 39,936 | 45,376 | 136,268
| Depreciation |  |  |  |  |
| At 1 January 2025 | 18,233 | 20,826 | 39,936 | 31,188 | 110,183
| Charge for the year on owned assets | 3,999 | 5,207 | - | 3,497 | 12,703
| At 31 December 2025 | 22,232 | 26,033 | 39,936 | 34,685 | 122,886
| Net book value |  |  |  |  |
| At 31 December 2025 | 2,691 | - | - | 10,691 | 13,382
| At 31 December 2024 | 6,690 | 5,207 | - | 9,446 | 21,343
Page 6
HP TUNERS EUROPE LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 29,445 | 23,041
| Prepayments and accrued income | 5,704 | 14,864
| Deferred taxation | 80,067 | 66,971
|  | 115,216 | 104,876
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 8,851 | 4,024
| Amounts owed to group undertakings | 402,534 | 395,649
| Other taxation and social security | 97,206 | 87,582
| Other creditors | 35,832 | 22,074
| Accruals and deferred income | 7,920 | 7,920
|  | 552,343 | 517,249
7. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 49,600 | 46,350
|  | 49,600 | 46,350
Page 7