Company No: 05005577 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	49,515		73,551
Tangible assets	4	264,175		241,470
Investment property	5	334,019		334,019
		647,709		649,040
Current assets
Stocks	6	2,224,892		2,293,273
Debtors	7	926,920		675,188
Cash at bank and in hand		210,955		257,803
		3,362,767		3,226,264
Creditors: amounts falling due within one year	8	( 2,132,629)		( 1,947,690)
Net current assets		1,230,138		1,278,574
Total assets less current liabilities		1,877,847		1,927,614
Creditors: amounts falling due after more than one year	9	( 259,470)		( 381,761)
Provision for liabilities	10	( 32,115)		( 65,539)
Net assets		1,586,262		1,480,314
Capital and reserves
Called-up share capital		485,293		485,293
Profit and loss account		1,100,969		995,021
Total shareholder's funds		1,586,262		1,480,314

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Top Gear (Bridport) Limited (registered number: 05005577) were approved and authorised for issue by the Board of Directors on 03 July 2026. They were signed on its behalf by:

Mr S D Kilcoyne Director

1. Accounting policies

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

General information and basis of accounting

Top Gear (Bridport) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Development costs	5 years straight line
Trademarks, patents and licences	10 years straight line

Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	10 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	20		17

3. Intangible assets

	Goodwill		Development costs		Trademarks, patents and licences		Total
	£		£		£		£
Cost
At 01 February 2025	106,053		98,458		38,443		242,954
At 31 January 2026	106,053		98,458		38,443		242,954
Accumulated amortisation
At 01 February 2025	104,261		39,384		25,758		169,403
Charge for the financial year	500		19,692		3,844		24,036
At 31 January 2026	104,761		59,076		29,602		193,439
Net book value
At 31 January 2026	1,292		39,382		8,841		49,515
At 31 January 2025	1,792		59,074		12,685		73,551

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 February 2025	242,557		150,506		153,413		6,208		552,684
Additions	510		110,794		0		7,718		119,022
Disposals	0		( 30,250)		0		0		( 30,250)
At 31 January 2026	243,067		231,050		153,413		13,926		641,456
Accumulated depreciation
At 01 February 2025	168,329		15,985		125,508		1,392		311,214
Charge for the financial year	15,889		43,203		8,384		1,765		69,241
Disposals	0		( 3,174)		0		0		( 3,174)
At 31 January 2026	184,218		56,014		133,892		3,157		377,281
Net book value
At 31 January 2026	58,849		175,036		19,521		10,769		264,175
At 31 January 2025	74,228		134,521		27,905		4,816		241,470

5. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	334,019
As at 31 January 2026	334,019

6. Stocks

	2026		2025
	£		£
Stocks	2,224,892		2,291,948
Work in progress	0		1,325
	2,224,892		2,293,273

7. Debtors

	2026		2025
	£		£
Trade debtors	672,148		495,725
Amounts owed by Group undertakings	79,926		60,420
Other debtors	174,846		119,043
	926,920		675,188

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans and overdrafts	924,772		848,794
Trade creditors	226,448		231,553
Amounts owed to Group undertakings	0		19,980
Taxation and social security	220,600		176,834
Obligations under finance leases and hire purchase contracts	31,026		19,262
Other creditors	729,783		651,267
	2,132,629		1,947,690

9. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	127,000		280,000
Obligations under finance leases and hire purchase contracts	132,470		101,761
	259,470		381,761

Obligations under finance leases are secured upon the assets acquired.

The bank loan is secured by a charge over the company's assets. The bank loan is repayment by instalment within 5 years.

10. Provision for liabilities

	2026		2025
	£		£
Deferred tax	32,115		65,539

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	82,000		6,250
Between one and five years	328,000		0
After five years	328,315		0
Total future minimum lease payments under non-cancellable operating leases	738,315		6,250

12. Related party transactions

Transactions with the entity's directors

The Directors loan accounts are repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 February 2025 the balance owed from the directors was £9,883 During the year, the company made advances to directors amounting to £170,771 and received repayments of £79,468 leaving a balance due from the directors of £101,186.

At 1 February 2024 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £145,306 and received repayments of £135,423 leaving a balance due from the directors of £9,883.

13. Ultimate controlling party

Parent Company:

Top Gear (International Holdings) Limited

Leanne House, 6 Avon Close, Weymouth, Dorset, DT4 9UX