Company registration number 05634945 (England and Wales)
BEAT THE STREET (UK) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
BEAT THE STREET (UK) LIMITED
COMPANY INFORMATION
Director
J Philipp
Secretary
N J Shelley
Company number
05634945
Registered office
29 Premier Way
Abbey Park Industrial Estate
Romsey
Hampshire
SO51 9DQ
Auditor
Sumer Auditco Limited
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
Business address
29 Premier Way
Abbey Park Industrial Estate
Romsey
Hampshire
SO51 9DQ
Bankers
HSBC Bank PLC
2 Market Place
Cirencester
GL7 2NS
Solicitors
Backhouse Jones Limited
The Printworks
Hey Road
Clitheroe
Lancashire
BB7 9WD
BEAT THE STREET (UK) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 32
BEAT THE STREET (UK) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The director presents the strategic report for the year ended 31 December 2025.

Fair review of the business

The Beat the Street (UK) Group provides specialist coaches for artists in the music industry during their tours across the United Kingdom and Europe. The company continues to maintain its position as a leading provider in this niche market, ensuring reliability and comfort for touring artists and their teams.

There have been no significant changes to the company’s principal activities during the year under review, and the director does not anticipate any changes in the foreseeable future.

For the year ended 31 December 2025, the group achieved a turnover of £38,258,543, an increase from £32,271,671 in 2024.

Profitability has also improved, with profit before tax rising to £4,903,171 (2024: £4,480,891).

The group's net assets position has remained stable at £7,173,992 as of 31 December 2025 (2025: £7,251,998). This demonstrates a strong financial position, reinforcing the company’s stability and capacity for future growth.

With a solid balance sheet and a continued focus on delivering high-quality services to touring artists, the company is well-positioned to sustain its success in the upcoming years.

Principal risks and uncertainties

Liquidity r isk

The group seeks to manage financial risk by ensuring liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The director regularly monitor s the cash flow projections of the group in order to ensure that it has sufficient available funds for its continuing operations.

Credit r isk

The principal credit risk arises from the group's trade debtors.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Foreign c urrency r isk

Risk largely arises from payment of wages to overseas employees.

Foreign currency risk is managed through the regular monitoring of risk policies and systems. The director is satisfied that these risks have been adequately managed through the year.

BEAT THE STREET (UK) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Key performance indicators

The group reviews and monitors its performance against a number of key performance indicators both financial and non-financial. The principal measures include revenue growth, maintaining service levels, improvement of gross margins and EBITDA. These are reviewed by the management team and reported to the Board on a monthly basis.

The Director and management have and will continue to monitor all of the KPI’s and daily operating controls and maintain a strong focus on increasing performance in all aspects of the business.

The main KPI’s and corresponding results are as follows:

| 2025 | 2024
Turnover | £38,238,543 | £32,271,671
Gross profit margin | 20.96% | 22.06%
Profit before tax | £4,903,171 | £4,480,891
Net assets | £7,173,992 | £7,251,998
Number of employees | 158 | 159

Turnover does vary year on year based on the artists touring during the period. Turnover has increased by 18% in 2025, which is a significant achievement and illustrates the strong pipeline of work secured and demand for the Group's services. The Group has a strong future order book and the Director is satisfied that turnover levels will be materially maintained.

Gross profit margin has reduced by 1.1% in the year. This is fundamentally a result of the increased costs affecting all businesses globally. The Director is satisfied that costs continue to be effectively managed and negotiated where possible.

Profit before tax remains substantial, with growth reported for 2025 as expected.

Net assets remained strong at £7.2m, providing a solid platform to support future investment and growth. The Director believes the Group's financial strength, established market position and reputation for delivering a high-quality service leave it well placed to pursue growth opportunities as they arise.

Employee numbers decreased marginally from 159 to 158 during the year. The Director recognises that the commitment, experience and expertise of the workforce are key factors in the Group's success and remains focused on ensuring the business has the skills and resources required to support its operational objectives and future growth.

The Director remains confident in the long-term prospects of the business and will continue to invest in its people, assets and operational capabilities to support sustainable growth and the continued success of the Group.

On behalf of the board

J Philipp
Director
2 July 2026
BEAT THE STREET (UK) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The director presents his annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the group continued to be that of the provision of specialist coaches for the music industry.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £3,750,000. The director does not recommend payment of a final dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

J Philipp
Future developments

The group will continue to provide specialist coaches for the music industry and is investing heavily in its fleet of vehicles.

The group has sufficient financial resources in place to execute its strategy to develop in the future.

Auditor

The auditor, Sumer Auditco Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of director's responsibilities

The director is responsible for preparing the Strategic Report, Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.

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

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

BEAT THE STREET (UK) LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
Strategic report

The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial risk management.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
J Philipp
Director
2 July 2026
BEAT THE STREET (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BEAT THE STREET (UK) LIMITED
- 5 -
Opinion

We have audited the financial statements of Beat the Street (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

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's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company 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 and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- T he information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the director's report have been prepared in accordance with applicable legal requirements.

BEAT THE STREET (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BEAT THE STREET (UK) LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the director (as required by auditing standards) and discussed with the director the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: laws related to employment, road & traffic, health & safety and data protection.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

BEAT THE STREET (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BEAT THE STREET (UK) LIMITED
- 7 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

- Matters are discussed amongst the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud

- Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud

- Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Mills (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited
2 July 2026
Statutory Auditor
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
BEAT THE STREET (UK) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
38,238,543
32,271,671
Cost of sales
(30,223,804)
(25,153,761)
Gross profit
8,014,739
7,117,910
Administrative expenses
(3,060,721)
(2,522,331)
Operating profit
4
4,954,018
4,595,579
Interest receivable and similar income
7
27,736
33,053
Interest payable and similar expenses
8
(78,583)
(147,741)
Profit before taxation
4,903,171
4,480,891
Tax on profit
9
(1,231,177)
(1,124,608)
Profit for the financial year
3,671,994
3,356,283
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

BEAT THE STREET (UK) LIMITED
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
8,700,441
10,004,074
8,700,441
10,004,074
Current assets
Stocks
15
264,287
167,834
Debtors
16
864,727
1,640,892
Cash at bank and in hand
2,942,742
3,327,616
4,071,756
5,136,342
Creditors: amounts falling due within one year
17
(2,791,697)
(4,302,795)
Net current assets
1,280,059
833,547
Total assets less current liabilities
9,980,500
10,837,621
Creditors: amounts falling due after more than one year
18
(784,444)
(1,548,329)
Provisions for liabilities
Deferred tax liability
20
2,022,064
2,037,294
(2,022,064)
(2,037,294)
Net assets
7,173,992
7,251,998
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
7,173,892
7,251,898
Total equity
7,173,992
7,251,998

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved and signed by the director and authorised for issue on 2 July 2026
02 July 2026
J Philipp
Director
Company registration number 05634945 (England and Wales)
BEAT THE STREET (UK) LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
2,641,018
3,259,983
Investments
13
3,461,652
3,461,652
6,102,670
6,721,635
Current assets
Debtors
16
456,470
757,232
Cash at bank and in hand
1,471,640
2,188,260
1,928,110
2,945,492
Creditors: amounts falling due within one year
17
(1,258,284)
(1,927,771)
Net current assets
669,826
1,017,721
Total assets less current liabilities
6,772,496
7,739,356
Creditors: amounts falling due after more than one year
18
(294,438)
(477,950)
Provisions for liabilities
Deferred tax liability
20
536,947
674,309
(536,947)
(674,309)
Net assets
5,941,111
6,587,097
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
5,941,011
6,586,997
Total equity
5,941,111
6,587,097

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £3,104,014 (2024: £2,568,338 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 2 July 2026
02 July 2026
J Philipp
Director
Company registration number 05634945 (England and Wales)
BEAT THE STREET (UK) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100
5,895,615
5,895,715
Year ended 31 December 2024:
Profit and total comprehensive income
-
3,356,283
3,356,283
Dividends
10
-
(2,000,000)
(2,000,000)
Balance at 31 December 2024
100
7,251,898
7,251,998
Year ended 31 December 2025:
Profit and total comprehensive income
-
3,671,994
3,671,994
Dividends
10
-
(3,750,000)
(3,750,000)
Balance at 31 December 2025
100
7,173,892
7,173,992
BEAT THE STREET (UK) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100
6,018,659
6,018,759
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
2,568,338
2,568,338
Dividends
10
-
(2,000,000)
(2,000,000)
Balance at 31 December 2024
100
6,586,997
6,587,097
Year ended 31 December 2025:
Profit and total comprehensive income
-
3,104,014
3,104,014
Dividends
10
-
(3,750,000)
(3,750,000)
Balance at 31 December 2025
100
5,941,011
5,941,111
BEAT THE STREET (UK) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
5,573,774
5,255,880
Interest paid
(78,583)
(147,741)
Income taxes paid
(1,911,570)
(846,955)
Net cash inflow from operating activities
3,583,621
4,261,184
Investing activities
Purchase of tangible fixed assets
(533,024)
(1,485,055)
Proceeds on disposal of tangible fixed assets
1,180,500
509,649
Interest received
27,736
33,053
Net cash generated from/(used in) investing activities
675,212
(942,353)
Financing activities
Proceeds/(repayment) of bank loans
(893,707)
(1,077,210)
Dividends paid to equity shareholders
(3,750,000)
(2,000,000)
Net cash used in financing activities
(4,643,707)
(3,077,210)
Net (decrease)/increase in cash and cash equivalents
(384,874)
241,621
Cash and cash equivalents at beginning of year
3,327,616
3,085,995
Cash and cash equivalents at end of year
2,942,742
3,327,616
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
1
Accounting policies
Company information

Beat the Street (UK) Limited (“the Company”) is a limited company domiciled and incorporated in England and Wales. The registered office is 29 Premier Way, Abbey Park Industrial Estate, Romsey, Hampshire, SO51 9DQ.

The Group consists of Beat the Street (UK) Limited and all of its subsidiaries.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Beat the Street (UK) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.5
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.

The group recognises revenue from the below major source:

- Ground transportation and tour bus hire

- Vehicle maintenance and repair services

The nature, timing of satisfaction of performance obligations, and significant payment terms of the group's major sources of revenue are as follows:

Ground transportation and tour bus hire

The group generates revenues from contracts for the provision of ground transportation and tour bus hire services to artists and touring productions.

Revenue from ground transportation services is recognised at the point in time at which the service is performed, reflecting the short-term nature of individual bookings.

Revenue from tour bus hire contracts is recognised over the period of the hire, by reference to the stage of completion at the reporting date. The stage of completion is determined based on the proportion of the hire period elapsed relative to the total contracted hire period.

Revenue is recognised only when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the group will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred, and the costs to complete the contract, can be measured reliably.

Where hire fees are invoiced in advance, amounts are deferred and recognised as revenue over the period to which the services relate.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -

Vehicle maintenance and repair services

The group also generates revenues from the provision of vehicle maintenance and repair services.

Revenue from vehicle maintenance and repair services is recognised upon completion of the repair or maintenance work. For longer or more complex jobs, revenue is recognised by reference to the stage of completion at the reporting date, based on the proportion of costs incurred relative to the total estimated costs of the contract.

Revenue is recognised only when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the group will receive the consideration due under the contract; and

- the costs incurred in respect of the transaction can be measured reliably.

Vehicle maintenance and repair services rendered to group companies are carried out on an arm's length basis.

Dividend income

Dividend income receivable from subsidiary companies is recognised in the period they are voted.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% p.a. straight line
Garage and office equipment
25% p.a. straight line and 33.3% p.a. straight line
Coaches
10% p.a. straight line
Motor vehicles
33.3% p.a. 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 recognised in the profit and loss account.

1.8
Fixed asset investments

I n the parent company financial statements investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -

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

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets 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.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
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.

1.11
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 current liabilities.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
1.12
Financial instruments

The group 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 instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

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.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducting all of its liabilities.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
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 paymen ts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised for tax purposes.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is 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 experience and other factors that are considered to be relevant. Actual results 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.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 21 -
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.

Tangible fixed assets

The useful economic life of tangible fixed assets has been estimated by the director to ensure that an appropriate depreciation charge is recognised each year. This estimate is based on management’s assessment of the assets' expected usage and condition.

Depreciation charged in the year amounted to £1,836,657 (202 4: £1,796,781).

Refer to note 1 2, showing the tangible fixed assets carrying values impacted by this key accounting estimate.

Investments in subsidiaries

Investments in subsidiary undertakings is recorded at historical cost, which includes the initial purchase price, related professional fees, and any deferred consideration where applicable.

Each year, the board carries out an impairment review, considering both the current performance and future profitability of the subsidiaries. This assessment is based on the EBITDA multiple established at the time of acquisition. Indicators of impairment may include a decline in revenue or profitability.

During the year, no impairment in the carrying amount of investments in subsidiaries has been deemed necessary (2024: £Nil).

Refer to note 1 3, showing the carrying values impacted by this key accounting estimate.

Classification of stock

Management has estimated the proportion of bus parts included within the closing stock balance at 31 December 2025 that are expected to be consumed in the maintenance of the group's own fleet of coaches, rather than held for resale to companies in the wider group. These parts are expected to provide economic benefit in future periods and therefore have been reclassified from stock to prepayments.

Based on management’s assessment, 40% of the bus parts balance has been reclassified as prepayments, resulting in £166,394 (2024: £226,595) recognised as a prepayment, and £264,287 (2024: £167,834) retained within stock. This estimate is based on the relative size of the fleet operated by the group compared to the wider group and therefore impacts the allocation between stock and prepayments.

Refer to note 1 5, showing the carrying values impacted by this key accounting estimate.

3
Turnover and other revenue

An analysis of the group's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Ground transportation and tour bus hire
37,573,480
31,368,585
Vehicle maintenance and repair services
665,063
903,086
38,238,543
32,271,671
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 22 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
16,628,881
14,649,168
Rest of the World
21,609,662
17,622,503
38,238,543
32,271,671
2025
2024
£
£
Other revenue
Interest income
27,736
33,053
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
149,561
(88,767)
Depreciation of owned tangible fixed assets
1,836,657
1,796,781
Profit on disposal of tangible fixed assets
(1,180,500)
(489,937)
Operating lease charges
223,726
222,112
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
18,650
13,500
Audit of the financial statements of the company's subsidiaries
14,850
12,200
33,500
25,700
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Administration
12
13
6
7
Drivers
119
120
64
63
Mechanics
27
26
-
-
Total
158
159
70
70

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
9,708,523
8,932,264
4,527,098
4,158,364
Social security costs
1,140,912
884,175
544,725
430,371
Pension costs
946,079
697,735
546,545
336,281
11,795,514
10,514,174
5,618,368
4,925,016

Directors remuneration in the year was £Nil (202 4: £Nil).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
27,736
33,053
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
78,583
147,741
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,246,407
1,011,570
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
2025
2024
£
£
(Continued)
- 24 -
Deferred tax
Origination and reversal of timing differences
(15,230)
113,038
Total tax charge
1,231,177
1,124,608

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
4,903,171
4,480,891
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
1,225,793
1,120,223
Tax effect of expenses that are not deductible in determining taxable profit
1,267
268
Depreciation on assets not qualifying for tax allowances
4,117
4,117
Taxation charge
1,231,177
1,124,608
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
3,750,000
2,000,000
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
891,988
Amortisation and impairment
At 1 January 2025 and 31 December 2025
891,988
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Intangible fixed assets
(Continued)
- 25 -
Company
The company had no intangible fixed assets at 31 December 2025 or 31 December 2024.
12
Tangible fixed assets
Group
Leasehold improvements
Garage and office equipment
Coaches
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
459,216
798,141
23,576,467
909,405
25,743,229
Additions
-
0
105,323
427,701
-
0
533,024
Disposals
-
0
(22,183)
(1,827,932)
(44,611)
(1,894,726)
At 31 December 2025
459,216
881,281
22,176,236
864,794
24,381,527
Depreciation and impairment
At 1 January 2025
292,222
662,077
14,350,069
434,787
15,739,155
Depreciation charged in the year
41,892
54,141
1,464,564
276,060
1,836,657
Eliminated in respect of disposals
-
0
(22,183)
(1,827,932)
(44,611)
(1,894,726)
At 31 December 2025
334,114
694,035
13,986,701
666,236
15,681,086
Carrying amount
At 31 December 2025
125,102
187,246
8,189,535
198,558
8,700,441
At 31 December 2024
166,994
136,064
9,226,398
474,618
10,004,074
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Tangible fixed assets
(Continued)
- 26 -
Company
Leasehold improvements
Garage and office equipment
Coaches
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
40,335
48,130
4,989,254
826,387
5,904,106
Additions
-
0
26,791
-
0
-
0
26,791
Disposals
-
0
-
0
-
0
(44,611)
(44,611)
At 31 December 2025
40,335
74,921
4,989,254
781,776
5,886,286
Depreciation and impairment
At 1 January 2025
40,335
45,493
2,172,098
386,197
2,644,123
Depreciation charged in the year
-
0
3,984
381,180
260,592
645,756
Eliminated in respect of disposals
-
0
-
0
-
0
(44,611)
(44,611)
At 31 December 2025
40,335
49,477
2,553,278
602,178
3,245,268
Carrying amount
At 31 December 2025
-
0
25,444
2,435,976
179,598
2,641,018
At 31 December 2024
-
0
2,637
2,817,156
440,190
3,259,983
13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
3,461,652
3,461,652
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
3,461,652
Carrying amount
At 31 December 2025
3,461,652
At 31 December 2024
3,461,652
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
14
Subsidiaries

These financial statements are separate company financial statements for Beat the Street (UK) Limited.

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of shares held
% Held
Direct
Indirect
Phoenix Bussing Limited
1
Dormant
Ordinary
0
100.00
Romsey Coaches Limited
1
Specialist coaches for the music iindustry
Ordinary
100.00
0

Registered office addresses (all UK unless otherwise indicated):

1 29 Premier Way, Abbey Park Industrial Estate, Romsey, Hampshire, SO51 9DQ

15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Consumable parts
264,287
167,834
-
0
-
0
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
467,361
702,713
370,511
513,730
Corporation tax recoverable
-
0
-
0
42,943
-
0
Amounts owed by group undertakings
32,780
-
0
32,780
-
0
Other debtors
119,791
44,241
1,038
1,038
Prepayments and accrued income
244,795
893,938
9,198
242,464
864,727
1,640,892
456,470
757,232
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
19
846,258
976,080
210,747
204,355
Trade creditors
181,851
724,145
24,489
53,351
Amounts owed to group undertakings
98,744
87,873
38,709
33,361
Corporation tax payable
46,407
711,570
-
0
490,109
Other taxation and social security
265,751
249,790
128,499
142,067
Other creditors
28,833
27,558
17,354
9,126
Accruals and deferred income
1,323,853
1,525,779
838,486
995,402
2,791,697
4,302,795
1,258,284
1,927,771

The bank loans are secured against the assets of the group to which they relate.

18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
784,444
1,548,329
294,438
477,950

The bank loans are secured against the assets of the group to which they relate.

19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
1,630,702
2,524,409
505,185
682,305
Payable within one year
846,258
976,080
210,747
204,355
Payable after one year
784,444
1,548,329
294,438
477,950

The group holds bank loans with Raiffeisen-Landesbank Tirol AG, all denominated in Euros. The loans were taken out for the purpose of financing the purchase of specific vehicles used in the group's operations.

The loans are repayable in quarterly instalments over their respective terms. Interest is charged at a variable rate based on 3-month EURIBOR plus a fixed margin, subject to a minimum rate of 1.125% per annum.

Each loan is secured by a retention of title over the specific vehicle to which it relates.

The group is exposed to foreign currency risk on these loans as they are denominated in Euros. Gains and losses arising on retranslation of the loan balances at the closing rate are recognised in the profit and loss account.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
ACAs
2,022,064
2,037,294
Liabilities
Liabilities
2025
2024
Company
£
£
ACAs
536,947
674,309
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 January 2025
2,037,294
674,309
Credit to profit or loss
(15,230)
(137,362)
Liability at 31 December 2025
2,022,064
536,947

T he deferred tax liability set out above relates to accelerated capital allowances which are expected to release over the useful economic life of the associated tangible fixed assets.

21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit and loss in respect of defined contribution schemes
946,079
697,735

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
23
Reserves

The Group and Company’s reserves are as follows:

Called up share capital

Called up share capital represents the nominal value of the shares issued.

Profit and loss reserves

The profit and loss account represents cumulative profits and losses net of dividends paid and other

adjustments.

24
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2025
2024
2025
2024
£
£
£
£
Acquisition of tangible fixed assets
1,293,600
-
-
-

As at 31st December 2025, the group has entered into a commitment for the delivery of three coaches from a supplier. The total capital commitment for these purchases amounts to €1,483,500, which has been translated into GBP at the exchange rate prevailing on this date. The translated amount is presented in GBP as at 31st December 2025.

Payment will be due on delivery, in line with the agreed terms. Given that the purchase is denominated in euros, exchange rate fluctuations between EUR and GBP may affect the final amounts payable at the time of payment.

BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 31 -
25
Related party transactions

Group

During the year, the group had transactions with Beat the Street Joerg Philipp Touring Service G mb H, a company under the control of Joerg Philipp. The se related party transactions include sales of £6,717,026 (2024: £6,305,296), purchases of £7,632,611 (2024: £6,196,924) and recharged expenses of £22,346 (202 4: £26,287).The group also incurred cross guarantee charges of £11,371 (2024: £15,370) and paid management charges of £65,026 (2024: £63,686). Included in creditors is an unsecured balance owed to Beat the Street Joerg Philipp Touring Service GmbH of £98,744 (2024: £87,873) and an amount owed from this related company of £32,780 (2024: £Nil).

During the year, the group paid rent to Joerg Philipp Properties Ltd of £171,600 (2024: £171,600). The balance outstanding at the year end £Nil (202 4: £Nil).

Company

The company has taken advantage of the exemption available in accordance with FRS 102 section 1.12 (e) 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

During the year, the company had transactions with Beat the Street Joerg Philipp Touring Service GmbH, a company under the common control of J Philipp. These related party transactions include sales of £5,733,355 (2024: £5,124,623), purchases of £7,354,560 (2024: £5,759,352), management charges of £24,347 (2024: £20,943), recharged expenses of £11,171 (2024: £26,048) and cross guarantee charges of £3,191 (2024: £3,840). At the year end, there were amounts due to Beat the Street Joerg Philipp Touring Service GMBH of £38,709 (2024: £33,361) and an amount owed from this related company of £32,780 (2024: £Nil).

During the year, the company paid rent to Joerg Philipp Properties Ltd of £15,600 (2024: £15,600). There was a balance of £Nil outstanding at the year end (2024: £Nil).

26
Controlling party

The company is under the immediate and ultimate control of Joerg Philipp Holding GmbH, a company registered in Austria, of whom J Philipp is the ultimate controlling party.

27
Cash generated from group operations
2025
2024
£
£
Profit after taxation
3,671,994
3,356,283
Adjustments for:
Taxation charged
1,231,177
1,124,608
Finance costs
78,583
147,741
Investment income
(27,736)
(33,053)
Gain on disposal of tangible fixed assets
(1,180,500)
(489,937)
Depreciation and impairment of tangible fixed assets
1,836,657
1,796,781
Movements in working capital:
Increase in stocks
(96,453)
(33,956)
Decrease/(increase) in debtors
776,165
(766,360)
(Decrease)/increase in creditors
(716,113)
153,773
Cash generated from operations
5,573,774
5,255,880
BEAT THE STREET (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 32 -
28
Analysis of changes in net funds - group
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
3,327,616
(384,874)
2,942,742
Borrowings excluding overdrafts
(2,524,409)
893,707
(1,630,702)
803,207
508,833
1,312,040
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