Timano H2O Racing Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 6

Company Information

Directors

Mr JD Marlow

Mr BG Whitwham

Registered office

Flat 3
12 Kenninghall Road
London
E5 8BY

Accountants

Michael J Emery & Co Limited
Chartered Accountants22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Timano H2O Racing Limited
for the Period Ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Timano H2O Racing Limited for the period ended 30 November 2025 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Timano H2O Racing Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Timano H2O Racing Limited and state those matters that we have agreed to state to the Board of Directors of Timano H2O Racing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Timano H2O Racing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Timano H2O Racing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Timano H2O Racing Limited. You consider that Timano H2O Racing Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Timano H2O Racing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

6 July 2026

Timano H2O Racing Limited

(Registration number: 16071575)
Balance Sheet as at 30 November 2025

	Note	2025 £
Current assets
Debtors	4	89,692
Cash at bank and in hand		4,731
		94,423
Creditors: Amounts falling due within one year	5	(94,662)
Net liabilities		(239)
Capital and reserves
Called up share capital		100
Retained earnings		(339)
Shareholders' deficit		(239)

For the financial period ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 July 2026 and signed on its behalf by:

.........................................
Mr JD Marlow
Director

Timano H2O Racing Limited

Notes to the Unaudited Financial Statements for the Period from 11 November 2024 to 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales, 16071575.

The address of its registered office is:
Flat 3
12 Kenninghall Road
London
E5 8BY
England

These financial statements were authorised for issue by the Board on 6 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Timano H2O Racing Limited

Notes to the Unaudited Financial Statements for the Period from 11 November 2024 to 30 November 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company during the period, including directors, was 2.

Timano H2O Racing Limited

Notes to the Unaudited Financial Statements for the Period from 11 November 2024 to 30 November 2025

4

Debtors

Current	2025 £
Trade debtors	89,692
	89,692

5

Creditors

Creditors: amounts falling due within one year

	2025 £
Due within one year
Trade creditors	74,863
Taxation and social security	18,586
Accruals and deferred income	1,000
Other creditors	213
	94,662

6	Related party transactions

Summary of transactions with other related parties

Kenninghall Consulting Ltd.
A company under common directorship.
During the year, Kenninghall Consulting Ltd invoiced the company £99,365 in consultancy fees. At the balance sheet date, the amount outstanding due to Kenninghall Consulting Ltd was £37,222. All transactions took place at market rates.

Timano Special Projects Szolgáltató Kft.
An overseas company under common directorship.
During the year, Timano Special Projects Szolgáltató Kft invoiced the company £99,365. At the balance sheet date, the amount outstanding due to Timano Special Projects Szolgáltató Kft was £37,222. All transactions took place at market rate.