| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Shaun Muir Racing Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Shaun Muir Racing Limited |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Shaun Muir Racing Limited |
| Company Information |
| for the Year Ended 31 December 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| 3 Kingfisher Court |
| Bowesfield Park |
| Stockton on Tees |
| TS18 3EX |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Balance Sheet |
| 31 December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Shaun Muir Racing Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Shaun Muir Racing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, SNM Holdings Limited, Victoria Court, Rectory Lane, Guisborough TS14 7GA. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Included within Plant and Machinery are certain speciality hospitality assets which are depreciated on a 15% reducing balance basis. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Investments in subsidiaries |
| Investments in subsidiaries are stated at cost. |
| Stocks |
| Stock represents race clothing for resale, motor parts and partially or wholly constructed motor cycles to be consumed in the rendering of the company's services. All are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| 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 or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| 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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their useful economic lives. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable/payable |
| Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| Transfer to ownership | (562,913 | ) | (24,683 | ) | (587,596 | ) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Transfer to ownership | (290,391 | ) | (15,925 | ) | (306,316 | ) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Rua Dr Josa Matos n17 2E, 8000-305, Faro, Portugal |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2025 | 2024 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 9. | LEASING AGREEMENTS - continued |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 206,210 | 80,229 |
| The bank overdraft is secured by way of a debenture over all company assets and a legal charge over the parent company's land and buildings. |
| Hire purchase liabilities are secured on the assets to which they relate. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred taxation | 186,500 | 176,000 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2025 |
| Charge to Income Statement during year |
| Balance at 31 December 2025 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Shaun Muir Racing Limited (Registered number: 04487362) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 14. | CAPITAL COMMITMENTS |
| 2025 | 2024 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| The above commitment at 31 December 2025 relates to the build and supply of a brand new asset, with commitments totalling €395,000. The amount disclosed has been converted at the exchange rate in existence at the year-end. |
| 15. | RELATED PARTY DISCLOSURES |
| During the year the company provided an interest free loan to a fellow group company. As at 31 December 2025 the balance outstanding on this loan was £52,842 (2024: £299). |
| 16. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of Mr S Muir by virtue of his shareholding in the immediate and ultimate parent company, SNM Holdings Limited. These financial statements are included in the consolidated financial statements of SNM Holdings Limited. The parent's registered office address is the same as Shaun Muir Racing Limited as detailed on the company information page. |