Despite continuing inflation and increasing costs these accounts show a solid performance from the Bugatti Owner’s Club which has now completed its financial review having looked at every aspect of the clubs financial activities. A full “drains up” review. The fixed asset revaluation is complete and moving forwards this will revert to depreciation using accepted accountancy practices and rates.

Our three-phase investment in CCTV has been completed and very well received, the system provides complete track coverage for race management and safety, commentators and security. Commentators now have their own dedicated area and are no longer resident in race control.

Our membership numbers are increasing and we are welcoming returning overseas members.

Additional effort continues in modernising and managing our Bugatti spares activities and new suppliers are being found for some of those difficult to find parts.

Coming in 2026 will be a large investment in repairing and improving the rear of our Clubhouse with a Clubhouse extension at the rear which will improve catering, security and storage. We will also provide new workshop facilities which will help our working party.

Preparations for the IBM 2027 are ongoing. This will be based at Rudding Park in the Yorkshire Dales and expressions of interest in attending are flooding in from members worldwide.

The notes on pages 4 to 8 form part of these financial statements.

For the financial year ended 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 of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The Bugatti Owners' Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Prescott Hill, Gotherington, Cheltenham, Glos., United Kingdom, GL52 9RD.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain other fixed assets at fair value. The principal accounting policies adopted are set out below.

Turnover represents the income received from membership subscriptions, the sale of Bugatti spares, regalia, entry and admission fees, sponsorship from Prescott events, drivers' school, corporate days, restaurant income, international rally income and other Bugatti material.

Membership subscriptions are invoiced in advance and an adjustment is made in the Statement of Financial position to take account of any income that is attributable to a subsequent accounting period. Similarly, any other income received in advance of the goods or services being provided is carried forward and recognised on delivery of the goods, events or service to which it relates.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation 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:

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:

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 surplus or deficit.

Freehold land is not depreciated.

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in connection with the projected tax liability if revalued fixed assets were disposed of at the carrying values in the financial statements.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation 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.

In the application of the company’s accounting policies, the directors are 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.

The exceptional item, in the prior year, relates to the write back of depreciation following a revaluation of certain assets.

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

Included in freehold property is land of £23,866 (2024: £23,866).

Land and buildings were revalued during the prior year to a value of £1,139,680, involving a write back of depreciation of £434,633 and an upward revaluation over cost of £205,939. The valuation adopted was based on a determination of current land and buildings values adopted by Council.

The significant trophy and pattern collections, from the original Bugatti factory in Molsheim, were also revalued in the prior year to a value determined by Council of £674,500, involving a write back of depreciation of £16,164 and an upward revaluation over cost of £650,687.

The revaluation surplus is disclosed in note 12.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

As security for the bank facilities, there is a debenture, dated June 2005, which includes a first legal charge over the freehold property, a fixed charge over the freehold and leasehold property, a first charge over any book debts, chattels, goodwill and uncalled capital, both present and future and a first floating charge over all assets and undertakings both present and future.

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

During the year, Stunt Drive UK Limited, a company owned by the husband of one of the senior management team, paid the company £1,810 (2024: £692) for land hire fees and parts on an arms' length basis. It also charged £8,684 (2024: £9,043) for Stunt School costs and repairs, also on an arms' length basis.

During the year, fixed assets to the value of £8,311 were purchased from one of the directors on an arms' length basis.