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Registered number:
For the year ended
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Race Valley Limited
Company Information
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Race Valley Limited
Contents
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Race Valley Limited
Group Strategic Report
For the year ended 31 December 2025
The directors present the strategic report for the period ended 31st December 2025.
The group has seen a challenging 2025 over what was an improving 2024. These challenges presented themselves by way of a global tariff war, particularly impacting our market in USA, along with general economic and political headwinds surrounding government taxation policy and inflationary pressures surrounding cost of energy and materials. The impact of this environment was magnified on our results as customers reduced inventory holdings during this uncertainty, despite retail sales showing some resilience.
The directors consider the following financial measures to be key performance indicators in measuring the performance of the business: 2025 2024 Change £'000 £'000 % Turnover 12,571 13,248 (5) Operating profit (276) 735 (138) Net assets 5,335 5,662 (6) The Directors are pleased with the performance of the group maintaining modest profitability before amortisation; a strong balance sheet; and net cash position, through a particularly tough period. Throughout 2025, despite the challenges, the group continued to invest in new manufacturing methods, expand its R&D pipeline and launch new products. The Group is well positioned to invest in its future with a strong operating balance sheet; good liquidity and net cash resources. Charitable contributions In 2022 the company elected to support the North West Air Ambulance charity as its sole corporate charity of choice. The company has raised £17,504 for the NWAA since 2022.
The group operates in a global market and transacts in three major currencies. Whilst this gives the group some stability it also presents challenges in terms of currency risk. A number of efforts are made to manage currency risks as they arise but there is no fail safe strategy in this regard.
The group derives the majority of its revenue from high end aluminium and steel products. Whilst a number of efforts are made to manage purchasing risk, the group is constantly subject to the supply-demand economics of these metals.
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Race Valley Limited
Group Strategic Report (continued)
For the year ended 31 December 2025
This report was approved by the board and signed on its behalf.
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Race Valley Limited
Directors' Report
For the year ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The Group's principal activity during the year was the manufacture, marketing and sale of premium motor-cycle and cycle parts.
The directors who served during the year were:
The loss for the year, after taxation, amounted to £287,167 (2024 - profit £522,158).
Dividends of £nil (2024: £231,068) were paid during the year. The directors do not recommend the payment of a final dividend.
The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Group is well positioned to invest in its future with a strong operating balance sheet; good liquidity and net cash resources.
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Race Valley Limited
Directors' Report (continued)
For the year ended 31 December 2025
There have been no significant events affecting the company since the year end.
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Race Valley Limited
Independent Auditors' Report to the Members of Race Valley Limited
We have audited the financial statements of Race Valley Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the consolidated statement of income and retained earnings, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Race Valley Limited
Independent Auditors' Report to the Members of Race Valley Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
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Race Valley Limited
Independent Auditors' Report to the Members of Race Valley Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the industry and sector in which the group operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the Group's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations
°Detecting and responding to the risks of fraud
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory framework in which the Group operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Group, including General Data Protection requirements, and Anti- bribery and Corruption.
Audit response to risks identified
Our procedures to respond to the risks identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
∙Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
∙Enquiring of management about any actual and potential litigation and claims.
∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
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Race Valley Limited
Independent Auditors' Report to the Members of Race Valley Limited (continued)
We have also considered the risk of fraud through management override of controls by:
∙Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Hurst Accountants Limited
Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG
Date:
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Race Valley Limited
Consolidated Statement of Income and Retained Earnings
For the year ended 31 December 2025
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Race Valley Limited
Registered number: 11418626
Consolidated Statement of Financial Position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 31 form part of these financial statements.
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Race Valley Limited
Registered number: 11418626
Company Statement of Financial Position
As at
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not
presented its own Statement of Comprehensive Income in these financial statements. The profit for the parent company for the year was £Nil (2024: £Nil). The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 31 form part of these financial statements.
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Race Valley Limited
Consolidated Statement of Cash Flows
For the year ended 31 December 2025
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Race Valley Limited
Consolidated Analysis of Net Debt
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Race Valley Limited is a company limited by members capital incorporated in England and Wales. The address of the registered office and principal place of business is Bredbury Park Way, Bredbury, Stockport, SK6 2SN. The company registration number is 11418626.
The principal activity of the group is the manufacture and sale of motorcycle and cycle parts. The principal activity of the company is that of a holding company.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of income and retained earnings and cashflow statement in these financial statements
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The financial statements have been prepared on a going concern basis. The following paragraphs set out the
basis of which the directors have reached their conclusion. The Group has a Loss before tax of £300k (2024: Profit £708) and net assets totalling £5.3m (2024: £5.6m) at 31 December 2025. The Group currently meets its working capital requirements through its cash balances and credit facilities. Based on the Group's forecasts and projections, the directors believe they have sufficient facilities to trade through the next 12 month period. Therefore, the directors believe it is appropriate to prepare the accounts to 31 December 2025 on a going concern basis and there will be no adverse effect on solvency for more than 12 months after the date of approval of the financial statements.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
value added tax and other sales taxes. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery to the customer), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
2.Accounting policies (continued)
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.
Depreciation is provided on the following basis:
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.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
2.Accounting policies (continued)
In the consolidated statement of cash flows, cash is shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
2.Accounting policies (continued)
The Group 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 and loans to related parties.
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. 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 consolidated statement of income and retained earnings. 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. 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 Group would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the period. Actual outcomes may differ from these judgements, estimates and assumptions. The directors believe that judgements, estimates and assumptions do not have a significant risk of causing a material difference to the carrying amounts of the assets and liabilities within the next financial year.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
The whole of the turnover is attributable to the group's principal activity as described in note 1.
Analysis of turnover by country of destination:
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Page 28
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Profit and loss account
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £121,734 (2024: £130,144). Contributions totalling £865 (2024: £8,204) were payable to the fund at the balance sheet date and are included in creditors.
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Race Valley Limited
Notes to the Financial Statements
For the year ended 31 December 2025
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