Gullwing Racing Support (UK) Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 13767789

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	252,520		59,839
Cash at bank and in hand		1,822,565		986,855

		2,075,085		1,046,694
Creditors: Amounts Falling Due Within One Year	5	(1,756,175 )		(746,795 )

NET CURRENT ASSETS (LIABILITIES)			318,910		299,899

TOTAL ASSETS LESS CURRENT LIABILITIES			318,910		299,899

NET ASSETS			318,910		299,899

CAPITAL AND RESERVES
Called up share capital	6		2		2
Profit and Loss Account			318,908		299,897

SHAREHOLDERS' FUNDS			318,910		299,899

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P Barnard Director	Mrs A Richardson-Barnard Director
30 June 2026

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Gullwing Racing Support (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13767789 . The registered office is Richbarn House 3 Daisy Lane, Shepshed, Loughborough, Leicestershire, LE12 9FX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from fees and commissions. Turnover is reduced for estimated rebates and other similar allowances.

2.4. Financial Instruments

Trade debtors

Trade debtors are amounts due from customers for insurance policies sold or services performed in the ordinary course of business.

Trade debtors are recognised initially measured at transaction price. At each reporting end, trade debtors are assessed for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect the amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay premiums and insurance premium tax for policies sold and settle claims that have been acquired in the ordinary course of business from insurers. 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 at transaction price.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2.7. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand, and call deposits.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Gullwing Racing Support (UK) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	252,385	57,382
Other debtors	135	2,457

	252,520	59,839

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,380,473	633,081
Other creditors	257,469	15,600
Taxation and social security	118,233	98,114

	1,756,175	746,795

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

7. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	120,000	65,000
Final dividend paid	200,000	-

	320,000	65,000

Dividends paid in the year

2RM Holding BV 2025: £90,000 (2024 : £48,750)

Flying Lap Holdings Ltd 2025: £30,000 (2024: £16,250)

Dividends proposed and paid after the year end

2RM Holding BV 2025: £150,000

Flying Lap Holdings Ltd 2025: £50,000

8. Post Balance Sheet Events

Subsequent to the balance sheet date, the directors have entered into negotiations regarding the potential sale of the business. At the date of approval of these financial statements, the sale has not been completed, and no binding agreement has been signed.

This represents a non-adjusting post balance sheet event. The outcome of the negotiations and any resulting transaction will be reflected in the financial statements of the subsequent period.

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