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Registered number: 10042383
MOTOR1 UK MEDIA LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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MOTOR1 UK MEDIA LTD
COMPANY INFORMATION
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Ecovis Wingrave Yeats LLP
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3rd Floor, Waverley House
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MOTOR1 UK MEDIA LTD
CONTENTS
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Notes to the Financial Statements
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MOTOR1 UK MEDIA LTD
REGISTERED NUMBER: 10042383
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2026.
The notes on pages 2 to 9 form part of these financial statements.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Motor1 UK Media Ltd is a private company, limited by shares, incorporated in England and Wales. The registered office and principal place of business is Henry Wood House, Langham Place, London, England, W1B 3DG. The registered company number is 10042383.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has reported a profit for the year amounting to £2,126,503 (2024 - loss of £349,712), however this primarily arises as a result of the write-off of amounts owed to group undertakings of £2,159,056, which has been recognised as exceptional income during the year. At the year end the Company's current liabilities exceeded its current assets by £6,723 (2024 - £2,133,226).
Since inception, the Company has relied on funding from group companies and its ultimate beneficial owner. In June 2023 the Company was acquired by Motorsport Network Media UK Limited, and the ultimate parent entity is now GMF Motorsport Investor LP which is ultimately owned by G Fegel. GMF Motorsport Investor LP has confirmed, although not provided a guarantee, that it will provide such financial support as necessary to the Company to enable it to continue to meet its liabilities as they fall due.
The director has confirmed their firm intention to retain the Company and have no intention to close or liquidate the Company. Although a formal business plan has not yet been finalised, the director is actively progressing potential new activities.
The director is committed to ensuring that the Company can meet its liabilities as and when they fall due for a period of at least 12 months from the date of approval of these financial statements. Having considered the director's' firm intention to repurpose the Company, the recent investments in the business, and the indications of support from the ultimate parent entity and ultimate controlling party, the director continues to adopt the going concern basis of accounting. Nevertheless, the absence of a finalised business plan and the Company's reliance on continued financial support indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Recoverability of intercompany balances
At the reporting date, the Company does not recognise any amounts due from group undertakings and therefore no judgement is required in respect of recoverability. In the prior year, the director exercised judgement in assessing the recoverability of group balances and, where uncertainty existed, a provision of £91,213 was recognised.
Deferred tax asset
The Company has not recognised a deferred tax asset of £413,095 (2024: £407,269) in respect of accumulated tax losses. Management is exploring repurposing the Company's operations during 2026 and as there is uncertainty as to when future profits will arise within the Company.
The Company did not have any employees, other than a director, during the year 0 (2024 - 8).
While employees were employed by another group entity, Motorsport Network Media UK Limited, no salary or related employment costs were recharged to the Company during the year (2024: salaries and related costs were recharged in respect of 8 employees).
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Called up share capital not paid
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Amounts owed by group undertakings were unsecured and were repayable on demand.
Amounts owed by group undertakings are net of provisions of £Nil (2024 - £91,213).
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Amounts owed to group undertakings were unsecured and were repayable on demand.
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Allotted, called up and fully paid
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1,000 (2024 - 1,000) Ordinary shares of £1.00 each
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Ordinary shares are non-redeemable, carry the right to vote on the basis of one vote per share, the right to participate in a dividend and the right to participate in a distribution of capital in proportion to the number of shares held.
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Profit and loss account
The profit and loss account includes all current period retained profits and losses. All are available for distribution.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Vane Finance Technology holds a fixed and floating charge over all the property and undertakings of the Company.
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Related party transactions
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The Company has taken advantage of the exemption contained within FRS 102 from disclosing transactions with entities that were wholly owned group companies during the year.
As at the year end, the Company was owed £Nil (2024 - £1,256) by group companies under common ownership that were not wholly owned at the year end.
During the year, the Company received revenues totaling £Nil (2024 - £808) from group companies under common ownership that were not wholly owned during the year.
Balances with group companies under common ownership that were not wholly owned during the year were written off amounting to £1,778 (2024 - £Nil) recognised as an expense.
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The immediate parent Company is Motor 1 LLC, a Company incorporated in the state of Florida, United States of America.
The ultimate controlling party is G M Fegel, who held an indirect majority shareholding in Motorsport Network Media LLC.
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MOTOR1 UK MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements. The Company has reported a profit for the year
amounting to £2,126,503 (2024 - loss of £349,712), however this primarily arises as a result of the write-off of amounts owed to group undertakings, which has been recognised as exceptional income during the year. At the year end the Company's current liabilities exceeded its current assets by £6,723 (2024 - £2,133,226).
Since inception, the Company has relied on funding from group companies and its ultimate beneficial owner. In June 2023 the Company was acquired by Motorsport Network Media UK Limited, and the ultimate parent entity is now GMF Motorsport Investor LP which is ultimately owned by G Fegel. GMF Motorsport Investor LP has confirmed, although not provided a guarantee, that it will provide such financial support as necessary to the Company to enable it to continue to meet its liabilities as they fall due.
As stated in note 2.2, these events or conditions, along with the other matters, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
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The audit report was signed on 2 September 2026 by Michael Storey (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.
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