ACCOUNTS - Final Accounts preparation

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:

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.

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

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

	Not later than 1 year	49,600	46,350
		49,600	46,350

Page 7